Web3 | Identosphere Blogcatcher

Crypto project Pump

The week of July 14 will see votes on both the stablecoin and broader crypto industry regulation bills.

Metaversal Weekly Recap: Ethereum boosts apps, OpenSea acquires Rally.

Yes, go buy ETH. But there are other ways we're getting Ethereum exposure right now.

In a livestream demo, xAI showed how its latest AI, Grok 4, integrates Polymarket prediction data — with a spotlight on the 2025 World Series.

Fidelity compares Ethereum’s network growth and activity to a real-world economy.

Rushi Manche, who was terminated following a token deal controversy, seeks a declaratory judgment against Movement Labs.

Clanker v4 unleashes customizable token launches with multi-pool liquidity, dynamic fees, anti-sniping measures, and more!

The four-day event on humanity’s permissionless future was invite-only, without even a stint for a few of the ‘next billion users’

XRP, DOGE, ADA and XLM are seeing double digits gains today

A year ago, The Defiant started publishing AI-generated stories provided by DeepNewz.

ETH pushed past $3K earlier today for the first time since February.

The deal marks what appears to be the centralized exchange's first major data integration with a large-scale LLM.

The memecoin launchpad makes its first acquisition, targeting wallet analytics and copy-trading features.

The memecoin is surging, with the Canary Spot PENGU ETF looking more likely, plus a spot listing on DEX Hyperliquid.

PIVX Weekly Pulse (July 4th, 2025 — July 10th, 2025)

Stay informed with your weekly PIVX digest, featuring the latest market trends and important community updates.

Top Stories Swipe Right on Privacy with PIVX & Cardstorm: PIVX has inked a brand-new partnership with Cardstorm.io, a gateway for spending crypto privately, instantly, and without the hassle of KYC, accounts, or banks. Imagine this: you can now effortlessly convert your PIVX into 6,000+ gift cards and prepaid cards for all your favourite retailers and services, all while maintaining the privacy you value. Earn While You Learn, CoincoursePro Beta is LIVE: coincoursePro’s “Learn to Earn” beta is officially live, offering an exciting new way to earn crypto simply by learning about it. Dive into bite-sized lessons on various blockchains and cryptocurrencies to gain valuable insights. Then, complete simple tasks to solidify your understanding and claim your well-deserved crypto rewards. Market Pulse Masternode Count: The PIVX network showed a slight rebound in the number of active masternodes this week. As of press time, a total of 1,998 masternodes were online, relative to last week’s count of 1,991. Price Check: PIVX experienced more positive price action this week, with its Daily USD Value ranging from $0.12 to $0.15. There were notable moments, too, as intra-day spikes hit $0.19 on Tuesday. Reflecting this upward trend, the weekly average climbed to $0.1326, up from $0.1261 last week. Trading Buzz: This week, PIVX experienced a massive surge in trading activity. While it began as a typical week, Tuesday saw significant spikes in trading volume, likely driven by growing conversations about privacy within the wider crypto market. Consequently, PIVX’s Weekly Trading Volume skyrocketed to $61.4 million, a dramatic increase from last week’s $18.5 million.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

PIVX Weekly Pulse (July 4th, 2025 — July 10th, 2025) was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

The foundation offloads $30M in ETH to SharpLink Gaming, bolstering the firm's crypto treasury.

Robinhood Markets Inc

ETH hits a multi-month high amid surging institutional demand.

This week on the a16z Podcast, we're sharing a feed drop from Impact Theory with Tom Bilyeu, featuring a wide-ranging conversation with a16z cofounder Ben Horowitz.

Artificial intelligence isn't just a tool — it's a tectonic shift. In this episode, Ben joins Tom to break down what AI really is (and isn't), where it's taking us, and why it matters. They dive into the historical parallels, the looming policy battles, and how innovation cycles have always created — not destroyed — opportunity.

From the future of work and education to the global AI race and the role of blockchain in preserving trust, Ben shares hard-won insights from decades at the forefront of technological disruption. It's a masterclass in long-term thinking for anyone building, investing, or navigating what's coming next.

Resources: 

Listen to more episodes of Impact Theory with Tom Bilyeu: https://link.chtbl.com/impacttheory

Watch full conversations on YouTube: youtube.com/tombilyeu
Follow Tom on Instagram: @tombilyeu

Learn more about Impact Theory: impacttheory.com

Timecodes: 

00:00 Introduction to Impact Theory with Ben Horowitz

01:12 The Disruptive Power of AI

02:01 Understanding AI and Its Implications

04:19 The Future of Jobs in an AI-Driven World

06:52 Human Intelligence vs. Artificial Intelligence

10:31 The Role of AI in Society

21:41 AI and the Future of Work

35:07 The AI Race: US vs. China

41:25 The Importance of Blockchain in an AI World

44:26 Government Regulation and Blockchain

45:16 The Need for Stablecoins

45:45 Energy Challenges and AI

49:53 Market Structure Bill and Token Regulation

53:51 Blockchain's Trust and Adoption

01:04:17 Elon Musk's Government Involvement

01:12:03 Historical Figures and Modern Parallels

01:18:41 AI and Creativity in Business

01:21:29 Conclusion and Final Thoughts

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures

Ethereum’s ether token climbed above $3,000 in early trading on 11 July, the first time it has crossed the level since February

Solana-based trading platform Pump

The protocol now holds 48% of all DeFi lending TVL and nearly a quarter of DeFi TVL overall.

The L1 network has processed more than double its total 2024 transaction count in the first half of 2025.

Five tokens that have caught our eyes this month.

Corporate BTC treasuries now control nearly 4% of the BTC supply, per a new report from Keyrock.

Federal Reserve Governor Christopher Waller said stablecoins should be regarded primarily as a new way to make payments, likening them to existing digital transactions rather than to speculative assets

Stablecoin developer Agora has raised $50 million in a Series A round led by venture capital firm Paradigm, with additional funding from Dragonfly, according to statements on 10 July

BTC gains almost 4% on the day amid $218M in ETF inflows

Less than 60 days after launch, DWF Labs’ stablecoin stumbled below $1 as users pulled liquidity and doubts mounted over its reserves.

The post Voice Agents: Easy to Use,
Hard to Build appeared first on Greylock.

Euler Finance’s TVL and EUL’s market capitalization have been surging, alongside EulerSwap volumes.

The crypto exchange and AI services startup are working to bring users more real-time crypto data services.

The TRON founder doubles down on his support for Trump-linked crypto assets.

Trump Media explores crypto rewards to power its growing subscription and fintech ecosystem.

BIT Mining Ltd., the Nasdaq-listed cryptocurrency mining company better known for its bitcoin operations, said it is overhauling its business to focus on the Solana blockchain

US Securities and Exchange Commission Commissioner Hester Peirce said on 9 July that blockchain-based versions of stocks, bonds or other assets remain subject to existing federal securities laws

President Nayib Bukele said El Salvador’s sovereign Bitcoin reserve is now worth about $691 million, giving the country an unrealized gain of nearly $400 million

Breaking down my EthCC talk on the three design archetypes that actually work.

Some users are going as far as to call it “the biggest scam in Polymarket history”, while UMA goes on record to say there is “no evidence” of foulplay.

Explore the unfolding landscape of crypto and blockchain innovation in our in-depth interview with Stuart Popejoy, CEO of Kadena and former head of JP Morgan’s Center for Blockchain Excellence. Guided by the following chapters, this conversation illuminates the journey from the earliest days of institutional blockchain to Kadena’s latest breakthroughs.

The XRP-issued dollar token hits a major milestone as Ripple pursues a U.S. banking charter.

Warren warns that the GENIUS Act could allow companies like Meta and Tesla to bypass SEC regulations.

If you could build a new kind of NFT marketplace, how would you do it?

The fund would hold top crypto assets, as well as CRO, a nod to ETF partner Crypto.com.

ETH, XRP, and SOL all see modest gains today, as total market cap dips.

After over a month of anticipation, memecoin launchpad pumpfun announced the official details of its upcoming ICO for PUMP.

Peapods Finance’s leveraged yield protocol suffered a $200,000 exploit attack after bad actors apparently manipulated its oracle.

Circle Internet Financial, the issuer of USD Coin (USDC), said it has entered a strategic partnership with cryptocurrency exchange OKX aimed at expanding USDC’s liquidity and reach

Ripple’s U.S. dollar-pegged stablecoin, RLUSD, has surpassed a market capitalization of roughly $500 million

The tradition of Epicenter x Vitalik Buterin continued this year as well at EthCC[8], where we got the chance of picking his brain about recent research, interests and Ethereum Foundation’s direction going forward. Join us for a fascinating discussion on biotech and how Vitalik’s Shiba ended up funding it, the utility of blockchains in nowadays society and Vitalik’s view on the Ethereum ecosystem and the Foundation’s response to community requests.

Topics covered in this episode:

Vitalik’s current interests How Shiba Inu funded biotech research The Merge and its impact Vitalik’s motivation and view on blockchain utility Ethereum Foundation’s changes Is supporting ETH price important for EF? Are L2s incentively aligned with Ethereum L1? Native L2s The risk of quantum computers

Episode links:

Vitalik Buterin on X Ethereum on X Ethereum Foundation on X EthCC on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus One: one of the largest node operators worldwide, trusted by 175,000+ accounts across more than 60 networks, Chorus One combines institutional-grade security with the highest yields at - chorus.one

This episode is hosted by Brian Fabian Crain & Sebastien Couture.

The Solana memecoin platform is selling 15% of its supply starting July 12.

Ripple on Wednesday named Bank of New York Mellon as the primary custodian for the U.S. dollar reserves backing Ripple USD (RLUSD)

Japanese public company Remixpoint has raised approximately ¥31.5 billion (around $215 million) through a financing round aimed at expanding its Bitcoin holdings.

On this week’s episode of “What Could Possibly Go Wrong?”, an IT worker has been nabbed in connection with a $100 million cyber theft. The crazy part? He allegedly sold his login credentials to hackers for a mere $2,700.

Brazilian police have arrested an IT employee for facilitating a theft exceeding $100 million from the nation’s instant payment system, PIX. The incident, which saw funds siphoned from at least six financial institutions, reinforces the critical vulnerabilities introduced by human error.

João Roque, an employee at C&M Software, a company integral to the PIX system’s operations, was taken into custody after admitting to selling his login details to hackers for approximately $2,700 in cash. According to police, Roque met the perpetrators at a bar, who then provided him with instructions on how to create additional accounts and enable remote access within the system, effectively granting them a backdoor into the sensitive financial infrastructure.

Authorities revealed that over 540 million Brazilian reais (more than $98.3 million) was stolen from at least one financial institution, with investigations ongoing into potential further losses from other banks.

The Central Bank has taken immediate action, restricting access to parts of C&M Software’s system. At the same time, police continue their search for at least four other individuals believed to be involved in the sophisticated operation. Approximately $49 million connected to the theft has reportedly been frozen. Cryptocurrency investigator ZachXBT is reportedly tracking some of the stolen funds, noting conversions into Bitcoin, Ethereum, and USDT.

The breach serves as a stark warning about the dangers of insider threats and the ripple effect of compromised credentials. Even with advanced cybersecurity safeguards in place, the weakest link often remains the human element.

Beyond the immediate financial impact, the theft raises serious concerns about data privacy and security. The compromised system handles sensitive transactional data, and any unauthorized access poses a significant risk to the privacy of individuals and financial institutions alike.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

Sold for Scraps: How a $2,700 Sellout Caused Over $100 Million in Damages was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Emirates Airline has signed a memorandum of understanding with cryptocurrency exchange Crypto.com

a16z Crypto General Partners Ali Yahya, Arianna Simpson, and Erik Torenberg break down what’s actually working in crypto today - starting with the rise of stablecoins as a real-world payments layer. They discuss how stablecoins are being adopted by companies like Stripe and SpaceX, why regulatory shifts are opening new doors for crypto startups, and how AI and crypto are beginning to intersect.

They also cover:

The future of decentralized social networks Where Ethereum, Solana, and others stand today Misconceptions still holding the space back

A grounded conversation on what’s real, what’s hype, and where crypto’s finally finding traction.

Timecodes:

00:00 Introduction to Crypto and AI

00:16 The Rise of Stable Coins

00:40 Current State of Crypto

02:02 Deep Dive into Stable Coins

07:39 Institutional and Consumer Adoption

22:09 The Future of Crypto and AI

29:13 Misconceptions and Policy Changes

33:06 Smart Contract Platforms

36:14 Closing Thoughts

Resources: 

Find Ali on X: https://x.com/alive_eth

Find Arianna on X: 

https://x.com/AriannaSimpson

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures

Polygon plans to activate its Heimdall v2 hard fork on 10 July, aiming to cut transaction finality on the proof-of-stake network to about five seconds and eliminate legacy code dating from 2018-19

SharpLink, whose shares trade under the ticker SBET, disclosed that it now holds about 205,634 ether, purchased at an average price of roughly $2,604

Paris-based 5G and internet-of-things chipmaker Sequans Communications has completed a private placement of debt and equity that raised about $384 million

The layoffs at Eigen Labs follow a $70M token sale to a16z.

Crypto wallet provider Phantom has introduced "Phantom Perps," a direct perpetual-futures trading feature powered by Hyperliquid

Stable-coin issuer Tether Holdings Ltd. said it has amassed almost 80 metric tons of gold—worth about $8 billion—in a vault it built and operates in Switzerland.

The memecoin launchpad wars rage on, but the most recent development has letsBONK tokens in free fall.

In this episode of The Defiant Podcast, we sit down with Vlad Tenev, Co-founder and CEO of Robinhood, to explore how Robinhood is bringing tokenized U.S. stocks to the EU, launching an Ethereum L2 with Arbitrum tech, and shaping the future of finance. From tokenized private shares to the long-term vision of blockchain adoption, Vlad shares insights on regulation, innovation, and the battle between Robinhood and Coinbase. Is crypto the backbone of global finance? Tune in to find out!

Bitcoin trades flat while Ethereum climbs and XRP dips.

Ethereum is winning. ETH investors still aren't. Here's how we fix that.

The gaming stock announced another buy, adding nearly $20 million to its ETH coffers.

New products, the recent Robinhood partnership, and a growing role in asset tokenization are helping to drive growth on the L2.

The challenger launchpad is leading by 24-hour volume and revenue.

IBIT cements its lead as the largest Bitcoin ETF amid surging institutional demand.

The liquid staking protocol is one of the most hyped dApps coming to the Hyperliquid ecosystem.

Pakistan’s federal cabinet has approved the creation of the Pakistan Virtual Assets Regulatory Authority, an independent body that will license, monitor and supervise virtual-asset service providers while aligning the country’s rules with Financial Action Task Force standards

The Dubai Financial Services Authority has granted regulatory approval for the QCD Money Market Fund, the first tokenised money-market vehicle authorised in the Dubai International Financial Centre

What Ethereum's builders were gabbing about in Cannes.

All eyes are on UMA voters as they decide the fate of one of Polymarket's most controversial markets to date.

Most large-cap crypto assets are down slightly, with the exception of XRP.

The record-setting digital bank heist successfully targeted a banking infrastructure startup before draining reserve accounts.

Business-intelligence firm Strategy said it has launched a $4.2 billion at-the-market offering for its 10% perpetual STRD preferred stock.

The movement of $8B in BTC after 14 years of wallet dormancy triggered trader concern over the weekend.

Ethereum co-founder Vitalik Buterin and Ethereum Foundation researcher Toni Wahrstätter have filed Ethereum Improvement Proposal 7983, calling for a hard cap of 16.77 million gas on every transaction executed on the network.

Russia has introduced a nationwide registry of cryptocurrency-mining equipment, marking its most comprehensive effort yet to monitor the industry’s energy consumption and curb unlicensed operations

In case you’ve not realized, there is a growing buzz around privacy in the Web3 space. Recently, Ethereum co-founder Vitalik Buterin expounded on the urgent need for robust privacy solutions, dubbing it “an important guarantor of decentralization.”

But let’s face it, the crypto landscape has been a battleground where innovation clashes with regulation. This conflict is especially pronounced for privacy-centric cryptocurrencies, which are viewed with suspicion and increasing scrutiny by governments worldwide. Here’s the burning question: “Can privacy coins truly resist government pressure, or are they destined to be curbed, controlled, or even eradicated?”

Two Sides of a Coin: The Government’s Stance

Privacy coins employ a variety of cryptographic methods to achieve anonymity. From Ring Signatures to Zero-Knowledge Proofs, Stealth Addresses, and Ring Confidential Transactions, proponents argue that privacy coins are essential tools for financial freedom. On the flip side, governments harbour significant concerns about privacy coins due to their potential for money laundering, tax evasion, terrorist financing, and sanction evasion.

Ironically, data confirms that these regulatory fears are not well-founded — cash is still the primary vehicle for money laundering, at least for now.

Notwithstanding, governments have adopted a multi-pronged approach in response to these concerns, including:

Delisting from Centralized Exchanges (CEXs): A common tactic is to pressure centralized cryptocurrency exchanges to delist privacy coins. Japan and South Korea have been particularly aggressive in this regard, with major exchanges like UPbit and OKEx delisting Monero, Dash, and Zcash. The EU is set to implement regulations from 2027 that will effectively ban the trading of privacy coins by regulated crypto-asset service providers. Sanctions and Enforcement Actions: The U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) had in the past sanctioned crypto mixing services like Tornado Cash, making it illegal for U.S. citizens to use. This signals a broader intent to target tools that enable financial anonymity. Increased Reporting Requirements: Regulations like the Financial Action Task Force’s (FATF) “Travel Rule” aim to extend oversight into crypto transactions, requiring Virtual Asset Service Providers (VASPs) to collect and transmit customer information for transactions above a certain threshold. Privacy coins, by design, make compliance with such rules challenging. New Regulatory Frameworks: Countries are developing and implementing comprehensive cryptocurrency regulations, often with explicit provisions addressing privacy-enhancing technologies. The EU’s Markets in Crypto-Assets (MiCA) regulation, phasing in by 2025, is a prime example. How Privacy Coins and Their Communities Push Back

Despite the mounting pressure, privacy coins and their communities exhibit inherent characteristics and strategies that contribute to their resilience. First, the very design of privacy coins makes direct government control or shutdown extremely difficult. Their decentralized nature, combined with robust cryptography, means there’s no central entity to target or shut down. As long as the underlying network remains active, transactions can technically occur.

Secondly, as centralized exchanges delist privacy coins, users can migrate to decentralized exchanges (DEXs) or engage in peer-to-peer (P2P) trading, which are far more challenging for governments to monitor and regulate.

Meanwhile, privacy coin communities often emphasize the legitimate use cases for financial privacy, such as protecting personal financial data from surveillance, enhancing security against data breaches, and enabling transactions in oppressive regimes. They aim to raise awareness that privacy is not inherently linked to illicit activity.

The Interplay

The future of privacy coins will likely be shaped by a continuous interplay between governmental efforts to impose transparency and the inherent resistance mechanisms of these technologies. While delisting from major exchanges undoubtedly reduces the mainstream accessibility and liquidity of privacy coins, it does not eradicate their use. Those determined to maintain financial privacy will find alternative avenues, even if they are more cumbersome.

Governments are investing in advanced analytics and forensic tools to attempt to trace even privacy-enhanced transactions. While complete de-anonymization may be technically challenging, partial linkages or behavioural analysis could still pose a risk to users.

Some propose “hybrid” models where privacy coins might integrate optional transparency features or allow for selective disclosure under specific legal frameworks, such as for large transactions or at the point of entry/exit from regulated financial systems. Interestingly, optional privacy is already available on PIVX.

Conclusion

The question of whether privacy coins can resist government pressure does not have a simple “yes” or “no” answer. While governments possess significant power to influence their accessibility and public perception, the decentralized and technologically resilient nature of privacy coins makes their complete eradication highly improbable.

Instead, we will likely see a compromised coexistence. Privacy coins may become less prominent in regulated, mainstream financial channels, but their underlying networks will persist, serving those who prioritize financial anonymity, whether for legitimate reasons or otherwise.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

Can Privacy Coins Resist Government Pressure? was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Why release a transparency report? Electric Coin Co. (ECC) is committed to openness and transparency — as we help evolve and support the Zcash digital currency, and in support of […]

Source

"Fiat is hopeless," the former DOGE chief told a supporter on X.

On this episode, taken from The Ben & Marc Show, a16z co-founders Marc Andreessen and Ben Horowitz dive deep into the unfiltered story behind the founding of Andreessen Horowitz—and how they set out to reinvent venture capital itself. 

For the first time, Marc and Ben walk through the origins, strategy, and philosophy behind building a world-class venture capital firm designed for the future—not just the next fund. They reveal how they broke industry norms with a bold brand, a full-stack support model, and a long-term commitment to backing exceptional builders—anchored in the radical idea that founders deserved real support, not just checks. 

Joining them to guide the conversation is Erik Torenberg—Andreessen Horowitz’s newest General Partner—who makes his Ben & Marc Show moderating debut. Erik is a technology entrepreneur, investor, and founder of the media company Turpentine.

Together, they explore: 

- Why traditional VC needed reinvention 

- How a16z scaled with a platform model, not a partner model 

- The "barbell strategy" reshaping venture capital today 

- Why venture remains a human craft, even in the age of AI 

Timecodes: 

00:00 - Intro 

01:00 - Why Traditional Venture Capital Was Broken 

03:05 - Marc on Discovering VC and Its Legends 

05:12 - Surviving the Dot-Com Crash and Angel Investing Collapse 

07:05 - Helping Founders Raise Venture / Fix VC Relationships 

08:47 - The a16z Strategy: Building a Support Platform 

12:07 - First Fund Wins: Skype, Instagram, Slack, Okta 

12:50 - Building a 'World-Dominating Monster' 15:00 - The Sushi Boat VC Problem 

18:07 - Treating LPs Differently 

21:40 - Marc and Ben's Working Relationship 

23:30 - Updating a16z’s Media Strategy for the Social Era 

27:20 - History of the Decentralized Media Environment

30:36 - Decline of Corporate Brands and Going Direct 

36:06 - Naming the Firm 

40:13 - Building the a16z 'Cinematic Universe' of Talent 

42:16 - Creating a Federated Model 

51:02 - Deciding to Market the Firm 

53:26 - Recruiting General Partners 

56:33 - Evolution to Full-Stack Companies 

01:03:53 - The Barbell Theory: The Death of Mid-Sized VCs

01:11:50 - Why Venture Capital Should Stay Overfunded 

01:19:50 - When a16z Knew It Could Be Top Tier 

01:25:58 - Venture Capital is an Art, Not a Science

Resources:

Marc on X: https://twitter.com/pmarca 

Marc’s Substack: https://pmarca.substack.com/

Ben on X: https://twitter.com/bhorowitz 

Erik on X: https://x.com/eriktorenberg 

Erik's Substack: https://eriktorenberg.substack.com/

The United Arab Emirates’ Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority and Dubai’s Virtual Assets Regulatory Authority issued a joint statement denying that crypto investors can qualify for the country’s 10-year Golden Visa

Elon Musk said his newly formed America Party will incorporate Bitcoin into its economic platform, declaring that "fiat is hopeless."

Billionaire investor Bill Miller IV said the U

We at PIVX are proud to celebrate our Privacy Partners

Edge, Houdini, NOWNodes, and Coinomi innovative solutions strengthen our mission to champion #privacy and #FinancialFreedom. A huge Shout-out to Jeffrey our Business Development Lead, for securing these vital partnerships.

Together, we’re advancing #PIVX as the leading privacy-focused, Proof-of-Stake cryptocurrency powered by zk-SNARKs.

Here’s to continuing our quest for innovation and privacy!

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

Partners in Privacy was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ukrainian President Volodymyr Zelenskyy has signed a new sanctions package aimed at disrupting Russia’s reliance on digital assets to finance its war effort

Our chart of the week is USELESS.

Trends to Watch (Hyperliquid ecosystem TGEs, Summer trading)

A single wallet moved about 80,000 bitcoin—worth roughly $8 billion at current prices—over several transactions, according to data reviewed by blockchain-analytics firm Arkham

Metaversal Weekly Recap: Azuki unveils an anime studio, Farcade rebrands.

Weekly Recap: Robinhood's RWA push, Trump's Big Beautiful Bill shocker

A growing number of crypto firms have applied for banking licenses or are thinking of doing so as TradFi and crypto continue to mingle.

Our top early episodes chronicling humanity's most ambitious tech explorations.

New research from Flipside reveals that fewer than 5% of wallets typically handle the majority of on-chain transfer volume.

More than $868 million worth of crypto stolen in the Bybit hack has disappeared, according to data from the exchange’s Lazarus Bounty website.

VC firm Breed predicts that companies emulating Strategy’s Bitcoin treasury will run into danger during the next bear market.

Bitwise's CIO says it's still too early to call predictions for BTC all-time highs and ETF flows for this year.

The Open Platform just joined the billion-dollar club with its latest raise.

Using palm scans, Humanity has developed a tool that enables airdroppers to block bots and prevent users from claiming tokens using multiple identities.

ETH slides 3.8% to $2,513, while Solana and XRP lose 3%

Robinhood’s tokenized stock rollout is raising eyebrows, as OpenAI distances itself and some suggest the stock tokens may actually operate in a “walled garden.”

World Liberty Finance opened a governance proposal on 4 July to permit public trading of its native $WLFI token, moving the project from a closed network to full market access

Ondo Finance said it has agreed to acquire Oasis Pro, a U.S. brokerage platform that holds Securities and Exchange Commission registrations for broker-dealer, alternative trading system and transfer-agent services.

PIVX Weekly Pulse (June 27th, 2025 — July 3rd, 2025)

Your weekly PIVX digest is here, packed with top market trends and important community updates.

Market Pulse Masternode Count: After hitting a new all-time high of 2,126, the number of active masternodes on the PIVX network has dropped to 1,991 this week. The decrease in masternode count may be attributed to a few key reasons. Some nodes could have temporarily disconnected, or perhaps operators are cashing in on recent price action. This shift ultimately points to a change in strategy or sentiment among masternode operators. Price Check: The Daily USD Value of PIV showed an encouraging trend this week, trading between $0.12 and $0.13. This positive movement was reflected in the weekly average, which rose to $0.1261, a significant bump from last week’s $0.1193. Trading Buzz: Amid the price recovery in the wider crypto market, PIVX saw heightened trading interest this week. The Weekly Trading Volume climbed to roughly $18.5 million, a solid increase from $16.5 million.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

PIVX Weekly Pulse (June 27th, 2025 — July 3rd, 2025) was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Two Bitcoin wallets that had been inactive since 3 April 2011 moved a combined 20,000 BTC—now worth roughly $2

The FTX Recovery Trust asked the Delaware bankruptcy court to approve a new “hold-and-review” framework that could block payments to customers in 49 jurisdictions where cryptocurrency use is banned or heavily restricted, according to a filing made public this week

House Republican leaders have designated 14-18 July as “Crypto Week,” scheduling floor votes on three high-profile digital-asset bills

Taken from the AI + a16z podcast, Arcjet CEO David Mytton sits down with a16z partner Joel de la Garza to discuss the increasing complexity of managing who can access websites, and other web apps, and what they can do there. A primary challenge is determining whether automated traffic is coming from bad actors and troublesome bots, or perhaps AI agents trying to buy a product on behalf of a real customer.Joel and David dive into the challenge of analyzing every request without adding latency, and how faster inference at the edge opens up new possibilities for fraud prevention, content filtering, and even ad tech.Topics include:

Why traditional threat analysis won’t work for the AI-powered web The need for full-context security checks How to perform sub-second, cost-effective inference The wide range of potential actors and actions behind any given visit

As David puts it, lower inference costs are key to letting apps act on the full context window — everything you know about the user, the session, and your application.

 

Follow everyone on social media:

David Mytton

Joel de la Garza

Check out everything a16z is doing with artificial intelligence here, including articles, projects, and more podcasts.

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. 

China's leading technology companies, including JD.com and Alibaba's fintech affiliate Ant Group, are actively lobbying the People's Bank of China to authorize the issuance of yuan-based stablecoins

The CoreWriter contract will enable HyperEVM DeFi applications to directly interact with Hyperliquid’s perpetuals exchange, Hypercore.

A simple bet on whether the Ukrainian President would wear a suit has turned into a messy showdown on the leading prediction market.

The decentralized cloud platform now supports over 1,000 enterprises as $ICNT goes live on Binance, Kraken, and Bybit.

The Thai zoo’s viral baby hippo will celebrate its first birthday with a three-day extravaganza, just as South Korean exchange Upbit lists its eponymous token.

Ildar Ilham, known as Prometheus on X, was arrested in the United Arab Emirates (UAE) today.

Bitcoin tags $110,000 as investor sentiment improves following positive jobs data.

The token is up 90% this week as the Solana memecoin trenches slowly crawl back to life.

A time capsule filled with community submissions will be locked on July 30 to commemorate the 10th anniversary of Ethereum’s genesis block.

The promise of airdrops rewarding early adopters and building vibrant Web3 communities has been undermined by a persistent, costly crisis: bot manipulation.

In recent years, bots and Sybil attacks have consistently hijacked airdrop campaigns, draining rewards from real users and eroding trust across the ecosystem.

The Airdrop Bot Crisis

Airdrops are intended to reward genuine engagement and foster decentralized communities. Most projects rely on heuristic filters (activity patterns, wallet age, transaction volume), manual reviews from centralized teams and multiple snapshots or social media checks.

These methods are not only opaque and error-prone, but also exclude real users and fail to reliably block bots, who constantly adapt and exploit loopholes. It causes:

❌ Bots and Sybil attacks Automated scripts create thousands of fake accounts, often claiming majority of airdrop allocations. ❌ Real users lose out Bots outnumber real users by multiples, diluting rewards and undermining the value of community participation. ❌ Failed anti-bot measures and community trust erodes Last-minute disqualifications and unclear eligibility criteria have become common, damaging project reputations and discouraging real engagement Empeiria’s Solution: Verifiable Credentials (VCs)

Empeiria sets a new standard by making airdrop eligibility provable, transparent, and bot-proof through Verifiable Credentials (VCs).

How it works?

✅ Every participant must obtain a cryptographically signed Verifiable Credential. By scanning a QR code in the Empe DID Wallet app. ✅ No Verifiable Credential = no reward. No exceptions. This cryptographic proof cannot be faked or automated by bots. ✅ Rules are enforced by code, not centralized teams. Once you hold a valid VC in your Empe Wallet, your reward is guaranteed — no last-minute exclusions or arbitrary cuts. ✅ All qualifying actions are transparently recorded on-chain. Ensuring full auditability and fairness. Empeiria’s On-Chain Testnet Airdrop

Since launching its testnet in April 2024, Empeiria’s Layer-1 blockchain has processed over 1,000,000 transactions and is secured by 150 top-tier validators. Recognized as a top 5 transformative crypto project by OKX and piloted with leading institutions.

Join Empeiria’s On-Chain Testnet Airdrop: docs.empe.io/user-guide/airdrop/on-chain-testnet-airdrop

The new legislation mirrors the addition she sought for inclusion in Trump's mega spending bill earlier this week.

The five airdrop paydays to chase this month.

The TON developer raised $28.5M from Silicon Valley heavyweights Ribbit Capital and Pantera Capital.

Robinhood has clarified the tokens are 'derivatives' and don't represent equity stakes.

Ripple has partnered with London-based financial-infrastructure firm OpenPayd to integrate real-time euro and pound payment rails into Ripple Payments and provide direct mint-and-burn capabilities for Ripple USD (RLUSD), the company’s dollar-backed stablecoin

Nasdaq-listed Addentax Group Corp. said it has entered into a non-binding term sheet to buy as many as 12,000 Bitcoin

The U.S. Securities and Exchange Commission has stayed a July 1 decision made by a delegated authority

Tom Lee, a well-known market strategist, has forecasted that major banks such as Goldman Sachs and JPMorgan are likely to adopt Ethereum (ETH) as a foundational infrastructure for their stablecoin operations

Tech investors Peter Thiel, Palmer Luckey and Joe Lonsdale have teamed up to create Erebor, a digital-first commercial bank designed for cryptocurrency firms and venture-backed technology startups

Belgium’s KBC Bank, the country’s second-largest banking institution with approximately 4 million users and $300 billion in assets, plans to enable retail clients to trade Bitcoin (BTC) and Ether (ETH) through its Bolero investment platform

The REX Shares ETF went live today and garnered $8 million in volume within the first 20 minutes, but SOL is lagging behind other major cryptocurrencies.

ENSv2 and Namechain are set to revolutionize the UX around onchain identity.

ETH jumps 6% to $2,560, while Solana and XRP gain over 3%

“PostParams is building massive online multiplayer functionality into the artistic expression that we support on Art Blocks,” founder Snowfro told The Defiant.

The REX-Osprey SOL + Staking ETF offers investors exposure to Solana's native token and its staking rewards.

Time.fun is a Solana marketplace where creators tokenize time, offering expert access and token speculation via bonding curves.

Coinbase continues to build out its crypto empire, acquiring token management startup Liquifi just two months after its $2.9 billion purchase of Deribit.

Ethereum led all ecosystems in security losses in the first half of 2025, with DeFi platforms losing around $470 million, according to the blockchain security firm.

Ripple Labs has applied for a U.S. national banking license, according to the Wall Street Journal.

The DEX processed $529 billion in Q2, more than doubling its Q1 volume as new features and cross-chain growth drove momentum.

The report from Glassnode and Bybit shows that Ethereum and Solana trading activity bounced back post-exploit, suggesting strong market resilience.

U.S. Securities and Exchange Commission Chair Paul Atkins said the agency views asset tokenization as a significant financial innovation

Bitcoin L2 Stacks is using Wormhole’s infra to bring native Bitcoin liquidity to Solana and Sui.

Coinbase announced its latest deal following its May $2.9B purchase of Deribit.

In what could pass as a scene from a crime thriller, a British IT worker will be cooling off in jail for hacking his employer after being suspended.

It was in July 2022. The air crackled with tension as Mohammed Umar Taj faced suspension from his position. Within hours, resentment transformed into a digital weapon. He launched a calculated cyberattack against his employer, an unidentified firm with a global reach across the UK, Germany, and Bahrain. His mission was to cripple their operations by altering login credentials and sowing chaos.

The firm reeled. Daily activities ground to a halt, and the financial damage mounted, reaching a staggering £200,000 (approximately $275,000), not to mention the harm to their reputation. But Taj’s fury wasn’t sated.

The very next day, he escalated his assault, changing access credentials and multi-factor authentication, directly impacting the firm’s clients and creating a ripple effect of disruption that stretched far beyond the UK’s borders.

Unbeknownst to Taj, a digital breadcrumb trail was being laid. Investigators from West Yorkshire Police’s cyber team meticulously pieced together the fragments of his attack. What they uncovered was chilling: Taj had not only recorded his malicious activities but had also brazenly discussed his digital assault in phone recordings.

The hammer of justice finally fell last week. Taj pleaded guilty to a Computer Misuse Act offense and was sentenced to seven months on June 26. But this is not an isolated case; it’s a modern-day fable, a chilling reminder that in the interconnected world, the human element remains the most unpredictable vulnerability, capable of wielding digital tools for destruction when trust is broken and anger takes hold. What could possibly go wrong?

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

Disgruntled IT Worker Bags 7-month Jail Time for Hacking Employer was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

With Trump flexing his strength for quick passage, House Republicans still appear wary to sign off on the bill in current form.

What if now is the best time in decades to start a company?

In this episode, taken from Speedrun, a16z’s accelerator for early-stage founders, Marc Andreessen joins games General Partner Jonathan Lai to make the case that we’re entering a once-in-a-generation window for innovation. From the rise of AI to the cultural and policy shifts reshaping the global economy, Marc explains why the next four years present a rare opportunity for builders to seize the moment.

Along the way, they discuss market timing, platform shifts, and what sets successful founders apart - including lessons from Steve Jobs, insights into AI’s impact on storytelling and games, and why being “too early” can feel just like being wrong.

Timecodes

0:00 Lessons from Steve Jobs on Leadership & Innovation

2:27 The AI Boom: How It’s Changing Everything

5:52 Market Timing: The #1 Factor in Startup Success

8:13 Why the Next 4 Years Are Critical for Tech

11:30 AI & The Future of Gaming, Storytelling & Virtual Worlds

14:28  Why Some Startups Fail While Others Explode

17:11  The Role of Founders in the AI Era

Resources: 

Find Marc on X: https://x.com/pmarca

Find Jonathan on X: https://x.com/Tocelot

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

The L2 has had a quietly killer summer of growth.

Stripe has established itself as a leading payment solution for both enterprises as well as startups and individual sellers. By abstracting away all the complexities of traditional payment rails through simple plug-and-play APIs, Stripe created a facile route for cross-border payments, simplifying e-commerce. Similarly, Stripe’s recent integration of stablecoins could further bolster the adoption of decentralised payment solutions, be them USD or other currency proxies. This allows businesses to reach more markets, at a lower cost, with near-instantaneous settlement.

Topics covered in this episode:

John’s background Stripe’s mission How Stripe solves the complexity of internet payments Integrating crypto for payments Supported blockchains Stripe’s Web3 services Upsides of accepting stablecoin payments Non-USD stablecoins Merchant UX Expanding crypto support outside the U.S. On- and off-ramping Acquiring Bridge and Privy The best of both worlds: CeFi & DeFi

Episode links:

John Egan on X Stripe on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus One: one of the largest node operators worldwide, trusted by 175,000+ accounts across more than 60 networks, Chorus One combines institutional-grade security with the highest yields at - chorus.one

This episode is hosted by Friederike Ernst.

One of the buzziest presentations at EthCC insists the EF isn’t working hard enough to make ETH a world reserve asset.

The Trump admin scored a win against privacy advocates who remain concerned about government financial data requests.

The USDC issuer has applied for a US trust bank license which would allow it to custody its own reserves.

Focus: Enhancements Across Redeemer, PIVCards, and MyPIVXWallet for 6.0 Testnet Preparation

The PIVXLabs development team has been advancing multiple projects: Redeemer, PIVCards, and MyPIVXWallet (MPW), to ensure a robust and user-friendly ecosystem in preparation for the PIVX 6.0 testnet release. This report highlights the most significant updates in chronological order, focusing on key features like multi-account support and voting groups in MyPIVXWallet, alongside notable improvements in Redeemer and PIVCards. Smaller but interesting pull requests (PRs) are briefly mentioned to provide a comprehensive overview.

Completed Improvements

Error Handling Fix for UTXO Failures
Description:
Implemented a minor but critical fix to improve error handling when a UTXO fails, enhancing the reliability of the Redeemer system.Commit Link: Redeemer #3817021

Final Changes to Blockbook for New Coin Support
Description:
Finalized updates to Blockbook to support three new coins, including server configuration and bug fixes. This effort enables Redeemer to operate seamlessly on a test server, marking a significant step toward broader coin compatibility. The process involved resolving minor bugs and optimizing server setup, ensuring stability for the live test environment.
PR Link: Blockbook #4

PIVCards

System Refactoring for Future-Proofing
Description:
Conducted extensive refactoring of the PIVCards codebase, focusing on improved documentation, code consolidation, and testing. This overhaul ensures the system is adaptable for future provider integrations, making it easier to add or modify providers as needed.

Vector Avatar & Banner Editing Feature
Description:
Introduced a highly requested feature allowing users to edit avatars and banners, enhancing profile personalization. Additional improvements include displaying nPub in the profile tab, standardizing icons with the UntitledUI icon set, and implementing theme-based icon coloring for visual consistency. These updates improve the user experience and align PIVCards with modern design standards.

Expanded Layout for Larger Screens
Description:
Expanded the layout to better support larger screens, addressing community feedback and improving usability across diverse devices.

Testing Framework Implementation
Description:
Added a testing framework to streamline development, enabling faster and more stable deployment of new features. This framework enhances the efficiency of the development process and ensures higher reliability for PIVCards updates.

MyPIVXWallet (MPW)

Multi-Account Support
Description:
A major feature addition, multi-account support allows users to manage multiple PIVX accounts within a single wallet interface. This enhances usability for advanced users, such as those managing personal and business funds or multiple staking profiles, by providing seamless switching between accounts without needing separate wallets. The feature includes robust security measures to ensure account isolation and is a cornerstone of the 6.0 wallet experience. While still in progress, this PR represents a significant leap in functionality and user flexibility.
PR Link: MyPIVXWallet #542

Voting Groups
Description:
Introduced voting groups, a powerful feature enabling users to participate in PIVX governance more effectively. This allows users to organize and cast votes as part of predefined groups, streamlining the process for community-driven proposals and decision-making. The feature includes an intuitive interface for managing group votes and tracking proposal status, making governance more accessible and collaborative. This PR is a critical component of enhancing PIVX’s decentralized governance model and is expected to significantly impact community engagement.
PR Link: MyPIVXWallet #565

Notable In-Progress PRs for MyPIVXWallet

Several smaller but impactful PRs are currently in progress, addressing usability, performance, and reliability. Highlights include:

Memo Sending Capability
Adds the ability to include memos with transactions, enhancing communication and record-keeping for users.
MPW #551

Improved Shield Loading Bar and Efficiency
Optimizes the loading bar for shielded transactions, improving both performance and user feedback.
MPW #555

Allow Offline Login
Enables wallet access in offline mode, improving accessibility for users in low-connectivity environments.
MPW #562

Add Resync Button
Introduces a resync button to refresh wallet data, addressing synchronization issues efficiently.
MPW #563

Hide Contested Proposals When None Exist
Improves the governance interface by hiding empty contested proposal sections, enhancing clarity.
MPW #564

Alert for Empty or Invalid Amount/Address
Adds user alerts to prevent transaction errors due to invalid inputs, usability.
MPW #570

Summary

This development cycle has delivered significant advancements across Redeemer, PIVCards, and MyPIVXWallet. Key highlights include the Blockbook integration for new coin support in Redeemer, the user-focused avatar and banner editing in PIVCards, and the transformative multi-account and voting group features in MyPIVXWallet. Smaller PRs, such as memo sending and offline login capabilities, further enhance the user experience and system reliability. These efforts collectively strengthen the PIVX ecosystem as it approaches the 6.0 testnet phase. Next Steps The team will focus on finalizing open PRs, particularly the multi-account and voting group features, while continuing to test and refine all components. Future reports will provide updates on merged PRs and additional progress toward the testnet launch.

To learn more about PIVXLabs: https://discord.pivxla.bz/
Website: https://pivxla.bz/

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

PIVXLabs Development Report June was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Before Panther’s recent successful Limited Mainnet Beta launch, the Panther community tested the protocol components and functionalities through Panther’s testnet, which consisted of nine different testnet stages. We would like to extend our gratitude to all testers and their feedback, which helped us fulfill our mission of building tomorrow’s decentralized finance. Today, we share everything you need to know about the testnet airdrop and how you could claim your testnet rewards. Let´s dive in!

Panther’s testnet recap and reward allocation

For approximately one and a half years, testers tried out the protocol’s UTXO algorithm, reward mechanisms, relayers, swap functions, and more. In total, 1.7M $ZKP has been allocated to the testnet participants. Aside from stress-testing the infrastructure, the goal of the testnet was also to enhance the end-to-end functionality of the protocol before launching the Limited Mainnet Beta version, which is available for testing today. And now, these 1.7M $ZKP testnet rewards can be claimed.

Distribution/Claim details

Since the launch of the testnet, rewards have been allocated to users who have engaged with the protocol's functionalities. The testnet rewards can be claimed through Sablier, an onchain token distribution infrastructure. By searching for the ‘’Panther Testnet’’ in the search bar, testers can find the right airdrop program for this airdrop. Testers can check their eligibility by connecting their Rainbow, Metamask, or Coinbase wallet to the Sablier application. In total, there are 5203 addresses eligible for claiming their testnet rewards.

The airdrop contract was deployed on June 30, and the program continues until October 30, 2025, as shown on Polygoncan. Within these 121 days, testers can claim their rewards. 

To claim your testnet rewards, visit Sablier here: https://app.sablier.com/airdrops/campaign/0x4d4d8b839f8e3a9eb214c0dc5a1ebbea261acf2d-137/

By completing this airdrop, the Panther ecosystem is one step closer to its mainnet launch. Once again, a big thank you to all the participants. We will keep you posted on the progress as we progress towards a fully functional Panther Protocol. 

About Panther Protocol Foundation

Panther Protocol Foundation is a non-profit organization dedicated to supporting the growth, sustainability, and responsible use of Panther Protocol. While it does not operate the protocol or facilitate digital asset services, the Foundation plays a critical role in promoting adoption, supporting open-source development, advancing research, and raising awareness around the protocol’s core privacy-preserving technologies.

By empowering users, developers, and permissioned actors within DeFi and web3, the Foundation contributes to building a more secure and confidential digital future.

For more information, visit www.panther.org.

To learn more about Panther Protocol, visit www.pantherprotocol.io.

Building BAT Utility and Driving Adoption

Since launching in March, the Brave Rewards 3.0 Partner Program has steadily gained momentum. Designed to expand Basic Attention Token (BAT) utility across Web3, the program connects partners with Brave’s over 88 million monthly users through premium placements—including New Tab Takeovers and the new Rewards Offer Wall—and amplifies reach through co-marketing and community-driven initiatives.

This month, we’re sharing progress updates from our existing cohort of partners, highlighting how they’re leveraging BAT to power new experiences across decentralized identity, DeFi, fitness, gaming, the metaverse, sports, and more. From Brave Ads campaign performance to live activations and on-chain integrations, each milestone fuels BAT’s multichain expansion and real-world utility.

Highlights include:

Bandit supporting 20 Web3 projects in running self-hosted campaigns through Brave’s private advertising platform Brave and Ubisoft hosting a live community event on July 1 at EthCC in Cannes (Masters of pETHanque) and gameplay demos inside the Brave browser with the new Brave avatar skin  Over 6,200 .brave domains minted on Unstoppable Domains The debut of a new Brave-themed character mask in Decentraland Fanon and Brave working directly to launch Brave Games  A collaboration on an exclusive Brave merch capsule for the GolfN Pro Shop Over 225,000 BAT locked in GuanoCoin’s Cave for increased utility on Solana A new Brave Community Group on the Moonwalk Fitness app Updates from our Rewards 3.0 Program Partners Bandit’s Badchain 

Bandit’s Badchain launched a $1 million Growth Fund in June to accelerate Web3 adoption—starting with Brave. As part of the Rewards 3.0 Partner Program, Bandit will curate and deploy the fund to support 20 Web3 projects in running self-hosted campaigns through Brave’s private advertising platform, reaching millions of users worldwide. These campaigns will combine premium exposure via Brave Ads with Bandit’s proven growth tools, including quests, leaderboards, and NFT mints.

The initiative reflects a shared commitment to authentic growth; Bandit and Brave aim to help projects reach the next 50 million real users through meaningful, product-led engagement rather than chasing hype or vanity metrics. As Brave approaches 100 million users, the Growth Fund presents a powerful opportunity for Web3 builders to find early market fit within one of the most crypto-native audiences on the Web.

Decentraland 

On Friday, July 11, Brave and the BAT Community will host an immersive metaverse event in Decentraland, featuring the debut of a new Brave-themed character mask. The event will include a live presentation on Brave and BAT, followed by an interactive afterparty with a DJ and other community-led activities. Attendees who participate will be able to claim the exclusive Brave mask in-game.

Those interested can join the event directly through Decentraland using Brave Wallet or another Web3 wallet in the Brave browser. We recommend downloading the Decentraland app in advance to ensure the best experience. Additionally, follow @AttentionToken on X for announcements about the event time, location, and other details.

GolfN

Brave and GolfN are collaborating on an exclusive merch capsule for the GolfN Pro Shop, featuring custom Brave golf towels, golf tees, and ball markers, introducing new sports and lifestyle-oriented utility for BAT. Fans will be able to purchase items using BAT, as well as other cryptocurrencies or credit cards. A dedicated banner in the Brave Merch Store will guide users directly to GolfN’s storefront.

This upcoming drop marks the next step in an ongoing partnership focused on bridging rewards and recreation, both on the green and beyond. 

GuanoCoin

Since joining the Rewards 3.0 Partner Program in March, GuanoCoin’s Cave has grown to over 225,000 BAT locked, a milestone that reflects rising community participation and long-term belief in the BAT ecosystem. By locking BAT in the Cave, fans help reduce the circulating supply and reinforce BAT’s utility on Solana, all while earning GUANO rewards.

Born from within the BAT Community, GuanoCoin continues to deliver creative, community-first ways to engage with BAT on-chain. Follow @Guanocoin for exciting quests and ecosystem experiments emerging from the Cave.

Moonwalk Fitness

Brave recently joined Moonwalk Fitness’s new Communities feature, a social layer within the Moonwalk app that makes movement more interactive, connected, and habit-forming. Communities foster accountability and shared goals by bringing together users based on their interests, location, or the type of challenge they face.

The new Brave community group offers a dedicated space where Rewards users and BAT holders can access exclusive invite-only games, share updates, and participate in group step challenges. Fans can join by downloading the Moonwalk Fitness app on iOS or Android and searching for Brave’s community.

In May, Brave sponsored Moonwalk’s Accelerate Impact, a charity step challenge which raised over $64,000 to benefit BONK’s Bonk for Paws initiative. Building on that success, Brave and Moonwalk plan to launch additional challenges, some supporting charitable causes, others offering BAT-powered rewards for users who hit their daily step goals.

Pudgy Pop, Fanon, & Brave Games

As part of our ongoing partnership, Brave previously teamed up with Pudgy Pop to explore new ways of engaging users through socially driven, gamified campaigns. Based on the strong community response to those experiences, built on Fanon’s social gaming platform, Brave is now working directly with Fanon to launch Brave Games: a new series of interactive challenges designed to deepen visibility and engagement for Rewards 3.0 Partner Program campaigns. Pudgy Pop will also participate by rewarding top Brave Games players with collectible pins. 

Brave Games blends prediction mechanics, progressive “Squid Game”-style rounds, and social gameplay to transform passive questing into something far more dynamic. Instead of static checklists and inflated incentives, players stay engaged by making smart guesses, completing challenges, and outlasting the crowd.

Ubisoft

Brave and Ubisoft are bringing their collaboration to life at EthCC in Cannes with a live community event on July 1: Masters of pETHanque. (Register here.) At the event, they’ll co-host a dedicated space featuring Watch Dogs: DedSec gameplay demos inside the Brave browser and unveil the new Brave avatar skin in __ Captain Laserhawk: The G.A.M.E., a community-driven adventure set in a dystopian world where players shape the narrative through collective decision-making. 

The custom Brave skin is a symbol of digital defiance, created for players who challenge the status quo and believe in reclaiming their agency—whether from Big Tech or fictional adversaries—values deeply shared by both Brave and Ubisoft. This experiential activation continues Ubisoft’s involvement in the Rewards 3.0 Partner Program, underscoring its commitment to delivering rich, meaningful experiences to Brave users and its broader gaming audience.

Preview of the custom Brave skin in Captain Laserhawk: The G.A.M.E

Unstoppable Domains 

Interest in the new .brave on-chain top-level domain, launched last month in partnership with Unstoppable Domains, continues to grow. In just four weeks, over 6,200 .brave domains have been minted, each representing a piece of digital identity that lives fully on-chain. Fans can still claim theirs at get.unstoppabledomains.com/brave, using BAT, other cryptocurrencies, or a credit card.

In a recent episode of The Brave Technologist podcast, Unstoppable COO Sandy Carter and Brave’s Luke Mulks discussed what could be next for .brave: a potential application to become an official ICANN-registered domain. If approved, .brave would operate across both Web2 and Web3 infrastructure, making it the first digital identity asset to be fully on-chain and recognized within the traditional DNS system. That means .brave domains could eventually be used as standard website URLs, compatible across all browsers and apps, while remaining rooted in the decentralized web.

This partnership is a bold step toward bridging the worlds of Web2 and Web3, and underscores Brave’s broader mission to give users ownership over their online identity: on-chain, in the browser, and beyond.

How interested partners can get involved

Web3 builders and projects can join the Rewards 3.0 Partner Program to gain access to a highly engaged, privacy-conscious user base, and help shape the next wave of utility for BAT. Get in touch to learn more.

Stay tuned for more partner announcements and ways to engage with BAT.

Brave is a driving force leading the way for Web3 adoption, directly supporting Web3 into the broader Web through its privacy browser, independent search engine, and browser-native, multi-chain crypto wallet. Brave currently has over 88 million monthly active users. Learn more at brave.com and basicattentiontoken.org.

Catch up on previous posts in this series March April May

fxhash’s new "art coins" are designed to power an ecosystem of dynamic, open-form generative art.

Robinhood pounded the pavement at EthCC with crypto announcements on stock tokens, new financial products, and its very own L2 on Ethereum. Bullish.

The public company chaired by investor Tom Lee is the latest to gun for becoming the Strategy of ETH.

The fintech giant is combining its two loves: stock trading and crypto trading.

The country's government is postponing testing a CBDC as it pivots focus to stablecoin legislation.

There are primarily two options when it comes to storing your cryptocurrencies: to self-custody your digital assets or trust a third-party exchange. Each approach comes with its own pros and cons and this article will help you decide which option is right for you.

What is Self-Custody?

Have you ever had an issue with your bank that led to the freezing of your account? Maybe not! But the reason your traditional bank is able to freeze your account is because you do not have full control. They can come up with new KYC or tax rules that you will be forced to comply with and you don’t really have a choice. Self-custody is the opposite of all I have just talked about.

A self-custody wallet (aka non-custodial wallet) allows you to hold your private keys, the cryptographic string of characters that grants access to your funds. This means that no central authority, government, or exchange can freeze your funds. You are probably familiar with the crypto saying, “Not your keys, not your coins.”

The tools for self-custody range from hardware wallets (like Ledger or Trezor), which store your private keys offline, to software wallets (like MetaMask, Trust Wallet, and MyPIVXWallet), which offer convenience for everyday transactions. For many, the peace of mind that comes with knowing they are the sole guardian of their digital wealth is invaluable.

At the other end of the spectrum is custodial wallets, otherwise known as exchange wallets. These wallets are ideal for crypto newbies. Their user-friendly design makes them an excellent gateway for those just starting to explore blockchain technology and fundamental actions like crypto trading. Exchanges like Binance and Coinbase fall under this category.

Pros of Self-Custody

· Absolute Control: You may not realize it but self-custody embodies the foundational ethos of cryptocurrency. Satoshi Nakamoto, in the Bitcoin whitepaper, repeatedly mentioned the need to transact without third parties. While custodial wallets such as centralized exchanges offer ease of use, users do not have full control of their funds.

Reduced Counterparty Risk: From Mt. Gox to the infamous FTX, and countless others, self-custody eliminates the risk of an exchange being hacked, going bankrupt, or engaging in questionable practices with your assets. Your funds are not commingled with those of millions of other users. Imagine the CEO of an exchange using your digital assets to buy a Lambo. Privacy: Although many blockchain transactions are public, self-custody offers a greater degree of privacy regarding your holdings. This is because they may not be directly linked to a KYC-verified exchange account. Cons of Self-Custody Irrecoverable Loss: Lose your private keys or your seed phrase, and your funds are gone forever. There’s no “forgot password” button in crypto. Hardware wallet malfunctions, house fires, or simple forgetfulness can lead to catastrophic losses. I still remember the story of James Howells, a computer expert who accidentally threw a drive containing 8,000 Bitcoin in 2013. He has been in a running battle with local authorities for years to buy the Welsh landfill, which now holds over $800 million worth of Bitcoin. Trust me, you don’t want to be this guy. Vulnerability to Personal Hacks: While exchanges are targets for large-scale hacks, individuals are susceptible to phishing scams, malware, and social engineering attacks that can compromise their personal devices and, by extension, their self-custodied funds. For example, one of the offline wallets of Bybit was hacked in February 2025, with the attacker(s) making away with nearly $1.5 billion worth of cryptocurrency. Complexity and User Experience: Although the UI and UX of self-custody wallets have improved greatly, setting up and managing self-custody solutions can be daunting for newcomers. The learning curve for securely storing seed phrases, understanding transaction fees, and navigating different blockchain networks can be steep. Pros of Custodial Wallets Ease of Use: Centralized cryptocurrency exchanges (CEXs) offer a familiar user experience, akin to traditional online banking or brokerage accounts. Buying, selling, and trading are streamlined, making them ideal for beginners. Liquidity: Exchanges provide deep liquidity, allowing users to buy and sell cryptocurrencies quickly and efficiently at competitive prices. This is particularly useful if you are a trader. Customer Support & Recovery Options: In many cases, if you forget your password or have issues with your account, there’s a customer support team to assist. Some exchanges also offer insurance against certain types of hacks (though the scope and reliability of this vary wildly). Advanced Trading Features: For active traders, CEXs offer a range of tools like margin trading, futures, and staking services, often with higher yields than self-custodial options. Cons of Custodial Wallets Centralization Risk: The primary drawback of using a CEX is encapsulated in the popular crypto adage: “Not your keys, not your crypto.” You are entrusting your funds to a single entity, making them vulnerable to exchange hacks, regulatory crackdowns, or internal mismanagement. The collapse of FTX served as a brutal reminder of this risk. Lack of Control: Exchanges can freeze your account, restrict withdrawals, or even seize your funds if they deem your activity suspicious or are compelled by legal authorities. Reduced Privacy: To comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, exchanges require extensive personal information, linking your identity directly to your crypto holdings. Finding the Sweet Spot

In conclusion, rather than settle for a one-size-fits-all approach, I believe that the optimal solution lies in a hybrid approach. Use exchanges for quick trades, dollar-cost averaging into positions, or keeping smaller amounts of crypto readily accessible for immediate use. On the flip side, move significant portions of your portfolio and assets you intend to hold for the long term into secure hardware or software wallets. This minimizes exposure to exchange risk.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

Self-Custody or Not: Should I Store My Crypto on an Exchange? was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Why does seriousness feel radical today? a16z General Partner Katherine Boyle joins The LaBossiere Podcast to explore what it means to build for the national interest—and why that starts with purpose.

Katherine, part of the American Dynamism team at a16z, shares how we got to a place where public service became uncool, how tech can help rebuild trust in government, and why suffering, friction, and responsibility are essential ingredients for growth. From the collapse of civic duty to the rise of meme-driven politics, they dig into the cultural forces shaping America—and the opportunity to reclaim a sense of mission.

They also discuss why Silicon Valley is more idea than place, what journalists and investors have in common, and why being laughed at might be the clearest sign you’re on the right path.

Timecodes: 

0:00 - Intro

4:48 The Decline in Public Service

7:47 Making Government Cool Again

10:07 Silicon Valley’s Aversion to National Security

13:15 Positive Sum vs Zero Sum Cultures

16:27 China, Authoritarianism, and Doing Hard Things

19:27 What Makes America Special?

23:03 Silicon Valley and the “Real Economy”

26:28 Investing in Mature Markets

29:08 Vanna White and The Wheel of Fortune

30:27 Journalism and Loneliness

32:52 - Time and Suffering

38:10 - Seriousness and Purpose

41:11 - Is Culture Downstream of Technology?

42:48 - Propaganda and Coolness as a Strategic Asset

44:40 - Florida, Texas, and Regulatory Arbitrage

47:51 - DC, Silicon Valley, and Florida

50:20 - What Should More People Be Thinking About

Resources: 

Find Katherine on X: https://x.com/KTmBoyle

Find Alex on X: https://x.com/adlabossiere

Listen to more from The LaBossiere Podcast:

YouTube: ⁠https://bit.ly/3QDLQFt⁠

Apple: ⁠https://apple.co/478Be6M⁠

Spotify: ⁠https://spoti.fi/3sfiFiE⁠

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on X: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Horizen 将于2025 年 7 月 23 日迁移到 Base ，EON 网络将逐渐关闭。

快照仅捕获原生 ZEN。wrapped ZEN（wZEN）以及 DeFi 池中的代币将不会自动迁移。

为确保您的资金包含在迁移中，您必须在 7 月 23 日快照日期之前采取行动。

你需要做什么

退出 EON 上的所有 DeFi 池

将您的 wZEN 解包为原生 ZEN

将非原生代币桥接回其原始链。使用Archon或Wanchain，具体取决于您的桥接方式。

最后期限

 2025 年 7 月 23 日之前

此日期之后，EON 上剩余的任何资产或资产池中的资产将不包括在迁移中。

需要帮助或有疑问吗？ 

加入Discord上的讨论和支持频道，  以获得 Horizen 团队和社区的帮助。

安全提醒：仅关注官方渠道获取可靠信息

Horizen X：  https://x.com/horizenglobal

Horizen Discord：  https://horizen.io/invite/discord

Horizen 电报群：  https://t.me/horizencommunity

Horizen 网站：  https://horizen.io

不要点击非官方来源提供的链接或下载应用程序。

有用的迁移资源：

迁移指南

迁移测试网试运行

迁移安全最佳实践

交易所支持状态跟踪器

The post 为 ZEN 迁移做好准备：7 月 23 日前将您的 wZEN 和 DeFi 代币从 EON 迁移 appeared first on Horizen Blog.

By Matt McAlister, Senior Director, Premium Products and Services at Brave

In late 2023 we published our first roadmap for Leo, Brave’s built-in AI browser assistant. In that post, we outlined our vision for Leo as a companion that helps you make sense of the Web, while still preserving your control and privacy.

Since then, Leo has been evolving from a helpful browsing companion toward a smart, personalized collaborator—a shift that reflects broader changes in how we think about AI and the Web. While we’ve delivered on our core promises around model quality, search capabilities, and multi-platform support, several of our most exciting innovations weren’t even on our original roadmap. Features like Multi-Tab Context, Tab Focus Mode, and Agentic AI emerged from user feedback and our ongoing commitment to making AI fundamental to how browsers work.

What hasn’t changed is our commitment to privacy-by-design and user choice. Given the product’s evolution since late 2023, we thought it was time to document Leo’s journey and share where we’re heading next.

What we’ve accomplished

Over the past 18 months, we’ve made progress with both foundational capabilities and innovative features:

Model improvements and performance

When we first launched Leo, we started with Llama 2 models. Since then, we’ve expanded our model offerings and given you more choice and options:

Better default models: We’ve upgraded our default from Llama 2 13B to Mixtral 8x7B to Llama 3.1 8B, and we also offer Claude Haiku and  Qwen 3 14B, with Premium users getting access to reasoning models like Claude’s latest Sonnet 4 and DeepSeek R1. Model selection: You can choose from a variety of models, with free and premium tiers offering different capabilities. Or you can let Leo choose the best model for each response with the new automatic model selection. Bring your own model (BYOM): Brave also lets you choose your preferred AI provider via a feature called bring your own model (BYOM). This lets you connect your own API endpoints for models like GPT-4, Grok, and others, or connect to locally-running models through tools like Ollama.

Learn more about the differences between Leo’s AI models.

Context and content Awareness: Leo adapts to different content types, handling webpages, PDFs, YouTube videos, Google Docs, and more. Leo can suggest questions about your page to help surface deeper insights. Automatic mode determines the best model to use for the current context. We’ve also recently added image understanding. Content generation: Leo can generate documents, lists, tables, code, and more using output formats including standard markdown. Edit prompts and regenerate responses to get the best output for your needs, then copy and paste into other projects and tools. Inputs and outputs: We’ve increased context window sizes and rate limits, allowing for more comprehensive conversations looking at multiple contexts. Outputs were increased for more robust responses, and ongoing performance improvements have reduced first token latency. Going native Browser: Use Leo in the sidebar as a companion while browsing, or in full-page mode for a dedicated conversation at brave://leo-ai. Multi-platform support: Leo is available on desktop (Windows, macOS, and Linux) and mobile (Android and iOS). Leo for Android and Leo for iOS also include voice input capabilities. Quick access: Use the browser toolbar icon to open Leo or start a conversation from the browser sidebar. Right-click tools: Quick access to Leo’s capabilities through contextual menu options for working with page content. Internationalization: Support for multiple languages in both the interface and models, ensuring Leo detects and maintains conversation in your preferred language. Search: Like many AI products on the market today, Leo uses the Brave Search API to incorporate real-time Brave Search results and provide more accurate, up-to-date information. It also includes citations with links to sources used to inform responses. Links between Brave Search and Leo help you transition between different information needs. Brave Talk: Summarize meetings, catch up if you join late, and automatically generate meeting notes from Brave Talk video call transcriptions, all thanks to the Leo / Brave Talk integration.

Learn how to use Brave Leo on desktop and mobile.

Learn how Leo gets current information with the Brave Search API.

User experience improvements Chat history: With chat history, conversations are saved locally (rather than sent or saved to Brave servers), allowing you to manage conversations and continue them later. Feedback: Like or dislike buttons and feedback forms to help us improve Leo based on in-the-wild usage. Conversation starters: Contextual suggestions to help you get more from Leo. Ongoing UI/UX improvements: Continual refinements to interfaces, including model lists and presentation, conversation UI, content output, tab attachment and document upload, and more. Privacy and security enhancements

We’ve added to our original privacy protections with better documentation and consistency in our messaging when new features are added:

Account-free access: Access Leo’s free tier without creating a Brave account. Privacy-preserving subscription model: Leo Premium uses unlinkable tokens to validate subscriptions, and the email used for account creation remains separate from day-to-day Leo usage, creating a privacy-preserving credentialing system. No chats in the cloud: Your conversations and chat history are never stored on our servers, and your chat history exists only on your device in your local storage. Chats can be temporary, meaning they aren’t kept in your local storage, and chat history can be disabled entirely so conversations don’t exist on your device or anywhere else after you close them. No context in the cloud: Unlike other AI assistants that require you to upload files or copy-paste content that gets stored on their servers, Leo works natively in your browser and can seamlessly access your browser tabs with page content and documents without storing that information on external servers.  No logs: We don’t log your IP address or keep any server-side records of your Leo usage to retain, analyze, or share. Innovative new features: beyond the original roadmap

Building on this foundation, we’re currently working on new features that transform what a web browser can do:

Agentic AI…with guardrails

As the browser evolves with agentic AI features, it will become a more active partner in using the Web. We’re still refining the safety features before releasing our implementation, but it’s plain to see how helpful agentic AI will be, with the browser acting on your behalf to:

Navigate to websites for you while you follow along or work on other projects Execute and refine search queries until you have all the information you need Extract and organize information collected from sources across the Web so you can focus on analysis and decision-making Automate multi-step workflows and tasks that take up too much of your time

While some browsers give their AI access to your data and logged-in webpage sessions (such as your email, calendar, bank accounts, or social media accounts), Brave is working to ensure you retain full control of your AI’s activities. We’re implementing several safeguards and controls such as restrictions on access to extensions, separate storage partitions, and clear warnings and visual indicators while it’s activated. Our implementation will ensure you consent before letting AI act on your behalf.

Context management

Browser-based AI can work within your existing workflow when you choose to activate it, without requiring you to copy/paste and explain your intentions as you do with cloud-based or standalone AI chat apps. Brave’s multi-tab context feature lets you ask questions that span resources already open in your browser–PDFs, articles, spreadsheets, and more–whether you’re working on school assignments, company reports, or research projects.

Share context from webpages, PDFs, documents, images, and videos when you want comprehensive analysis Ask questions, identify patterns and find connections between sources you’ve chosen to include Generate summaries that draw insights from all the materials you’ve provided

Soon you’ll be able to add tabs, bookmarks and history as attachments by mentioning them with the “@” symbol, simplifying context management even further.

Improved context handling

We have also implemented many enhancements and continue improving the way content is processed to provide the highest quality insights and output:

Better extraction and processing methods for more content types Smart truncation for large contexts and extended conversations Dynamic routing for the most relevant model when in automatic mode Vision support

Leo now understands and analyzes images, bringing multi-modal capabilities to your browsing experience:

Ask questions about images on webpages and in PDFs Get detailed descriptions of visual content Analyze and extract text and information from images Compare visual elements across different sources by adding multiple images Tab organizer

Developers and business users often find themselves with numerous tabs open in multiple windows across client projects, research, and personal browsing. Rather than hunting manually through this digital mess, they now ask Leo to organize tabs by workflow stage, documentation type, language, or many other custom structures:

Filter and organize open tabs based on topics or themes Group related tabs for better focus Create new windows with filtered tabs for specific tasks

Learn how to use tab focus mode.

Looking ahead

As browsers evolve with more AI capabilities, they become the natural platform for AI to orchestrate your digital activities rather than simply assist with individual tasks. So, in addition to these ongoing improvements and upcoming releases, our near term plans include capabilities like:

Tasks and scheduling

Building on the agentic foundations referenced above, we’ll also add a task scheduling system that will let you:

Create recurring tasks and schedule automated workflows Monitor webpages and alert you when something important happens Receive notifications when tasks are complete and results are ready for you

Imagine setting up Leo to check for concert tickets within your price range, monitor GitHub issues that mention you, or collect news on topics you care about—all automatically and on a schedule you define.

On-device AI

We’re also exploring ways to expand on Leo’s initial BYOM capabilities for more on-device AI. This includes fully integrated local model support for running models, and enabling offline AI capabilities for tasks with even higher security needs on both desktop and mobile devices.

Better outputs

Using the latest models and tools such as the Brave Search API, users will be able to generate higher quality outputs. Product data, sports data, cryptocurrency prices, and richer outputs including images, tables, and other content formats will help you learn more about your personal interests. Audio mode will respond to you with a voice of your choice. You’ll also be able to create more robust and professional documents for work, school, or home.

Longer term

With these strong foundations in place, we’re changing the way we operate and deliver AI features in the browser.

We listen closely to what users are asking for. They’re telling us about what models they use, where to integrate them in the browser, and what would help them in their work. They’re telling us how to enable more control over AI.

We’re also our own power users, using AI tools internally to learn faster and achieve more. This experience drives our conviction that AI should work the way you do.

That’s exactly what we’re building: AI that adapts to your workflow, not the other way around, optimized with tools and services that help you learn faster, do more, and make better decisions. We’ll deliver this through a comprehensive AI operating environment, guided by your feedback, our focus on useful tools over flashy features, and our unwavering commitment to user choice and privacy.

Roadmap progress and future direction

As we reflect on our journey so far, the table below shows what we’ve delivered, what we haven’t completed yet, and how our understanding has evolved as we’ve released features and capabilities. 

Strategic Direction Successfully achieved Incomplete Beyond original roadmap Future Privacy-First Architecture Opt-in consent Settings for disabling features Reverse proxy to anonymize IP addresses Zero data retention Privacy-preserving subscriptions Agentic AI guardrails (in development) Task progress indicators Activity previewer User intervention controls User consent mechanisms Access limitations Dedicated agent execution environment Enterprise group policy Chat history delete, disable Temporary chats More agentic AI guardrails Task management UI Permission management Activity/audit trails Rollback/undo More enterprise controls Agent-to-agent guardrails Auth for 3rd party APIs More controls for contexts, memories, models, local storage AI privacy policy summaries AI security warnings, alerts for suspicious ads, sites, network activity, etc AI Model Infrastructure Better models Vision model support Rate limiter Multi language support (limited number of languages) Integrated, pre-configured client-side models Many languages Image generation Bring your own model (BYOM) capability Rapid model deployment Performance improvements Reasoning model support Support for multiple images, screenshots Automatic model selection Automatic prompt routing MCP interfaces Integrated, pre-configured client-side models WebLLM exploration (in development) Improved model routing Multi-model, multi-agent orchestration More languages Text-to-speech Translation for live streams Image generation Context & Understanding Large context sizes Improved context extraction Context awareness for different content DOM tree parsing, accessibility tree Video transcript support PDF summarization Image understanding Brave Search augmented answers Video conference (Brave Talk) transcription understanding Entity highlighting Content suggestions/auto-completion User-defined boundaries, mood, and context awareness Customized tone and summary styles Drag and drop context Smart truncation Structured language handling Support for Google Docs Help Docs used to answer user questions Prompt classification (in development) Multiple attachments Screenshot upload Bookmarks (in development) Browser history (in development) Memory (in development) Larger contexts Context optimizations Specialized understanding (e.g. weather,  cryptocurrency, products) Agent-to-agent context pipelines 3rd party APIs (Google, Notion, GitHub, etc.) Personalized, adaptive memories Automatic context updates Pre-emptive context loading Data, visualization, complex interface understanding Drag and drop context Live video stream comprehension Real-time grammar and style suggestions Intelligent query refinement and search suggestions Customized, adaptive AI personality and response styles Custom prompt templates and shortcuts User-editable system prompts Smart next action suggestions Personalized task suggestions Productivity and utility Right-click tools for text generation Conversation persistence Filling in editable fields Browser developer tools integration News integration Financial tools (e.g., cryptocurrency context) Plugin/extension framework Agentic actions (in development) Navigation Page interactions Form automation Tab controls Multi-site workflows Background tasks Multi-context conversations – tabs, bookmarks, history, uploads, etc. Right-click tools menu improvements Tab focus mode Conversation starters Editable prompts and responses Response regeneration Import SERP to Leo Chat with Brave Talk video transcription Writing assistant (in development) Smart Tasks Scheduling Progress tracking Task history Parallel tasks Auto-completion features Search tools MCP tools Browser developer tools Plugin/extension framework (incl MCP tools) Deep research (business analysis, academic papers, planning documents) Smart shopping  Comparison tools Price tracking agents Suggestions Cart management Booking automation Personalized news insights Improved content generation (documents, code, images) Content generation versioning Smart bookmarks, browser history tools User Experience Full-page UI via brave://leo-ai/ Sources and citations Mobile parity on Android and iOS Conversation UI Response formatting UI Code, markdown output (w copy/paste) Enhanced Feedback Enhanced mobile UI (tab-based) Full UI language translation Voice-controlled prompt entry Rich-media responses Voice responses with emotion, accents and laughing 3rd party content spaces Agent-to-agent management interfaces Cross-device sync Business model Premium subscriptions Ad-supported option Brave Rewards integration Crypto payments for subscriptions (in development) Ad-supported option Brave Rewards integration Affiliate partnerships Agent marketplaces Payments

For users who prefer not to use AI features, you can choose not to opt in, and if you wish to turn it off after trying it you can always disable Brave Leo completely.

As we shared in our recent roadmap, Leo has evolved from a helpful browsing companion toward a smart, personalized collaborator, adapting to your workflow to help you be more productive. Now you’ll see in the latest release of Brave browser how Leo takes this collaborator approach further, intelligently choosing the right AI models for your specific needs.

New Automatic mode: Always the best model available

Leo’s new Automatic mode ensures you’re always using the most capable AI models available to you without having to research, evaluate, or manually switch as new models are released. As the AI landscape rapidly evolves with new and more powerful models, Automatic mode provides access to the best default option whether you are using Leo in the free tier or Leo Premium where the most advanced models are available to subscribers.

The Automatic option in the model selector provides intelligent defaults for convenience while always preserving your ability to manually select any specific model when desired. You’ll always be able to see which model was used, and you can immediately switch to manual selection and choose your preferred model, regenerate with any other model, or set your own default preferences at any time. 

As we continue improving Automatic mode, it will become even smarter at matching the right model to your specific tasks. It currently routes images to vision-capable models appropriate for your access tier, and we’re adding routing capabilities for more context types like languages, code, and task-specific use cases like organizing browser tabs or conducting deep research.

Leo’s model evolution: Continuous improvement

Leo’s model offerings have continuously evolved to provide users with access to the most capable AI available:

Timeline Defaults Upgrades Key Capabilities Fall 2023 Free: Llama 2 13B
Premium: Claude 2 Sonnet Initial Leo launch with Llama 2, Claude 2 Haiku and Sonnet General conversation, basic tasks Winter 2024 Free: Mixtral 8x7B
Premium: Claude 2 Sonnet Added Mixtral 8x7B to replace Llama 2 as default Faster, higher quality responses Summer 2024 Free: Mixtral 8x7B
Premium: Claude 3.5 Sonnet Upgraded Claude 2 in Premium tier to Claude 3.5 (Haiku and Sonnet), upgraded Llama to 3 Enhanced reasoning, better creative writing, improved accuracy Fall 2024 Free: Llama 3.1 8B
Premium: Claude 3.5 Sonnet Changed default for free tier access to Llama 3.1 to improve response quality Enhanced coding, image analysis, multilingual support Winter 2025 Free: Llama 3.1 8B
Premium: Claude 3.7 Sonnet Upgraded Claude Sonnet to 3.7, added Qwen 14B Improved reasoning, better multilingual capabilities, faster processing Spring 2025 Automatic Selection Upgraded Claude Sonnet to Claude Sonnet 4 and Qwen to Qwen 3, added Llama 3.2 Vision, DeepSeek R1 and Gemma 3 (soon), removed Mixtral, introduced smart routing. Eliminated 30-day retention for Claude models Automatic intelligent routing, advanced reasoning

Current Model Lineup:

Llama 3.1 8B: General-purpose chat and content generation Qwen 3 14B: Advanced reasoning, coding, and multilingual support Claude Haiku 3.5: Lightning-fast chat optimized for speed Claude Sonnet 4 (Premium): Advanced analysis, creative writing, coding and reasoning DeepSeek R1 (Premium): Complex problem-solving and logic Llama 3.2 Vision: Image understanding and analysis Gemma 3: Multiple image analysis and more languages, to be released soon

With Automatic mode, you get the best of all these models without needing to track their individual strengths or manually switch between them unless you choose to do so.

Edit, regenerate, and refine

Building on Leo’s existing capabilities, you can now edit prompts and regenerate responses to get the best output for your needs. This workflow lets you:

Start with Automatic mode to get an intelligent first response using the most capable model Regenerate with different models to compare approaches Edit your original prompt and try again Copy the best results into your projects and workflows Complete model control with BYOM

For users who want ultimate control, Leo’s Bring Your Own Model (BYOM) capability lets you connect your own AI models—whether running locally on your device or hosted remotely. You can use frameworks like Ollama to run models directly on your device and connect them to Leo, keeping all data private. If you wish to use third-party APIs like OpenAI’s GPT-4, BYOM connects to them using your own key.

BYOM works seamlessly with Leo’s conversation UX and browser-native context handling features—you can even set your custom model as the default model for generating responses. Other Leo features will be integrated with BYOM soon, such as response regeneration and tab organization.

Privacy architecture that enables innovation

These new features are built on Leo’s unique privacy-first infrastructure:

Our open models in the free tier—Llama, Qwen, and Gemma—run in Brave’s own secure AWS environment, configured to drop conversation data immediately when your session ends.  DeepSeek and the Claude models operate through AWS Bedrock with the same zero-retention configuration. 

Eliminating third-party data retention: We’ve eliminated the 30-day data retention that previously applied to Claude models under Anthropic’s standard API terms. By migrating Claude models to AWS Bedrock, all models now operate under identical privacy standards.

The result:

No chats in the cloud: Your conversations and chat history are never stored on our servers. All data from query processing is lost after your response is generated, and your chat history exists only on your device in your local storage. Local chats can be temporary, meaning they aren’t kept in your local storage, and chat history can be disabled entirely so conversations don’t exist on your device or anywhere else after you close them. No context in the cloud: Unlike other AI assistants that require you to upload files or copy-paste content that gets stored on their servers, Leo works natively in your browser and can seamlessly access your browser tabs with page content and documents without storing that information on external servers.  No logs: We don’t log your IP address or keep any server-side records of your Leo usage to retain, analyze, or share.

This combination of self-hosted and Bedrock-configured models creates privacy guardrails that matter to people who use AI for work, school or their personal workflows. In addition, our independence from any single model provider means we can adopt the best available options without being constrained by vendor lock-in or restrictive terms that limit what others can offer.

Transparency in automation

Automation in Leo is designed to respect your intelligence and agency. When Automatic mode selects a model, you see which one and can immediately try alternatives. When you regenerate responses, you can compare how different models approach the same task. 

This transparency reflects our broader philosophy that the best personalized AI collaborator isn’t one that makes decisions for you. It’s one that makes you more capable of making your own.

Metaversal Weekly Recap: GONDI revamps its NFT platform, Matt Furie faces mint exploits.

While L2 rollups did help scale Ethereum, they also created siloed ecosystems, all fighting over the same liquidity, users and devs. t1 Protocol is building layer-2 infrastructure to achieve seamless cross-rollup interoperability through real-time proving, powered by TEEs. t1's low-latency with 1-second block times provides faster preconfirmations, significantly improving UX, all while maintaining full Ethereum composability.

Topics covered in this episode:

Can’s background Why Enigma/Secret Network built on Cosmos Solving Ethereum’s liquidity fragmentation t1’s rollup & real-time proving in TEEs Sequencer setup inside the TEE Dealing with other rollup trust assumptions Integrating new L2s Permissionless TEEs Potential attack vectors TEE alternatives Asset issuance on mainnet vs. L2s t1 development Partnerships & BD Solana vs. Ethereum UX TEE misconceptions

Episode links:

Can Kisagun on X t1 Protocol on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus One: one of the largest node operators worldwide, trusted by 175,000+ accounts across more than 60 networks, Chorus One combines institutional-grade security with the highest yields at - chorus.one

This episode is hosted by Friederike Ernst.

Trump sidestepped whether he would divest from his crypto ventures if that proved a sticking point for passing crypto legislation.

The product allows customers to trade futures with lower margin requirements than standard futures.

Kraken's Cash App competitor has over 300 digital assets to keep you occupied.

By rewarding users transparently, Yupp reframes AI training as participatory, auditable labor.

The hardware wallet, which the firm stopped selling in 2022, will no longer receive vital software updates.

PIVX Weekly Pulse (June 20th, 2025 — June 26th, 2025)

Get your weekly PIVX update, featuring the hottest market trends and essential community news.

Top Stories

coincoursePro Beta Opens Soon: Get ready to learn it, earn it, and claim it with coincoursePro. The wait is almost over as the Web3 Learn to Earn platform is set to launch its beta next week. This is your exclusive invitation to be among the first to experience the future of crypto learning, powered by PIVX.

Market Pulse Masternode Count: The PIVX network has surged to 2,126 active masternodes, marking an impressive recovery from last week’s 2,092. It appears masternode operators strategically bought last week’s dip, boosting the number of active masternodes to a new all-time high. Price Check: The Daily USD Value of PIV experienced further declines this week, trading between $0.11 and $0.13. The weekly average reflected this slide, dropping to $0.1193 from the previous week’s $0.1256. Trading Buzz: This week’s lower prices were met with increased trading activity. The Weekly Trading Volume rose to $16.5 million, up from $15.7 million. Daily trading volume also remained healthy, consistently staying above the $2 million mark.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org

PIVX Weekly Pulse (June 20th, 2025 — June 26th, 2025) was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

In this episode of ‘This Week in Consumer’, a16z General Partners Anish Acharya and Erik Torenberg are joined by Steven Sinofsky - Board Partner at a16z and former President of Microsoft’s Windows division - for a deep dive on how today’s AI moment mirrors (and diverges from) past computing transitions.

They explore whether we’re at the “Windows 3.1” stage of AI or still in the earliest innings, why consumer adoption is outpacing developer readiness, and how frameworks like partial autonomy, jagged intelligence, and “vibe coding” are shaping what gets built next. They also dig into where the real bottlenecks lie, not in the tech, but in how companies, products, and people work.

 

Resources: 

Find Anish on X: https://x.com/illscience

Find Steven on X: https://x.com/stevesi

Watch Andrej Karpathy’s talk: https://www.youtube.com/watch?v=LCEmiRjPEtQ

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Brave for Android is now available as an F-Droid repository. This new officially-supported repository allows users of the F-Droid client to install the browser and receive automatic updates without requiring the Google Play app to be installed.

As we are a user-first privacy-focused browser, we understand that many users are seeking an alternative to the Big Tech app stores with all of the tracking and restrictions that come with them. We are excited to make our app available on a decentralized and account-free platform. These builds are identical to the ones available via Google Play.

If you are using an Android device without the Google Play Store, or if you just want to try an alternative way to download the browser you love, give it a try and let us know what you think.

Is the F-Droid version of Brave any different from the one on Google Play?

No. Both are built on Brave’s infrastructure from the same source code.

Why is Brave using a third-party repository instead of listing in the main F-Droid repository?

Just like with our official Linux packages, we maintain our own repository as a way for users to integrate Brave onto their operating systems while ensuring that updates are delivered promptly to users and that only fully-supported versions of Brave are available through these repositories.

Repositories like F-Droid, Debian, and Ubuntu that have their own inclusion policies and/or release cadence are free to distribute the Brave Browser under our Open Source license, but we do not at this time have the resources available to support them directly.

Can I still find the Brave Android app on the Google Play Store?

Yes, the Brave Android app is available on Google Play Store in addition to Brave’s F-Droid version.

Can anyone download the Brave app from the F-droid repository, or is any technical expertise required?

Installing Brave for Android through our F-Droid repository requires a few more steps, but anyone can follow our official instructions.

Can I use premium features such as Brave VPN + Firewall, Brave Leo or Brave Rewards without a Google account?

No. At the moment, these features require a Google account on Android.

Polymarket and Kalshi continue to garner attention. Here's how you can capitalize.

The newly public asset investor has secured a new fund to back crypto startups.

The European Union's Markets in Crypto Assets license will allow Kraken to operate across the 27 EU member states.

The mobile payments app will allow users to send each other cash and a variety of crypto tokens.

Exploring an onchain release flow for books, from decentralized draft backups to NFT drops and multisig vaults.

A number of privacy-enhancing technologies (PETs) are rapidly making their way into new crypto apps. That's a very good thing.

U.S. Director of Federal Housing William Pulte is urging mortgage companies to 'prepare' for the big change.

The bitcoin treasury firm is loading up its coffers yet again as it follows the Strategy playbook.

HB 2324 enables the formation of a Bitcoin and digital asset reserve for the state.

The post Congratulations, Predibase and Rubrik! appeared first on Greylock.

New stringent regulations are on the horizon for Turkish crypto users. Once enforced, crypto platforms will be forced to collect detailed information on the origin and purpose of every transfer.

According to reports from Turkey’s state-run Anadolu Agency (AA), the Ministry of Treasury and Finance is driving these stricter regulations as part of efforts to combat money laundering and financial crime. A key component of the new rules will be the mandatory collection of a transaction description of at least 20 characters for each transfer.

In addition to transaction descriptions, platforms will be required to impose holding periods on crypto withdrawals, especially when the “Travel Rule” does not apply. These include a 48-hour delay for most withdrawals and a more extended 72-hour delay for the first withdrawal from any new account.

The ministry also plans to introduce daily and monthly limits on stablecoin transfers. These limits, set at $3,000 per day and $50,000 monthly, are designed to prevent the rapid outflow of illicit funds, particularly those linked to illegal betting and fraud. Platforms that fully comply with Travel Rule obligations, which involve collecting comprehensive sender and recipient identity details, may be permitted to apply these limits at double the standard threshold.

Treasury and Finance Minister Mehmet Şimşek affirmed that the objective of these regulations is to curb criminal misuse of cryptocurrencies without stifling legitimate activity. He stated that “Left-wing space for legitimate crypto asset activities will be maintained.”

The new rules also come with serious penalties for non-compliance, including administrative fines, criminal sanctions, and potential denial or cancellation of licenses for platforms that fail to adhere to the regulations. However, transfers related to liquidity provision, market making, and arbitrage will be exempt from these limits, provided users can prove the source of funds and the activities are monitored under the platform’s responsibility.

These proposed regulations are part of Turkey’s broader strategy to align its crypto policies with global frameworks, such as the European Union’s Markets in Crypto-Assets (MiCA) regulation. In March, Turkey’s Capital Markets Board (CMB) introduced comprehensive licensing and operational rules for Crypto Asset Service Providers (CASPs), granting the CMB full regulatory authority over crypto exchanges, wallet providers, and custodians. This includes strict requirements for executive backgrounds, shareholder structures, and minimum capital thresholds, with crypto exchanges needing at least $4.1 million in capital and custodians $13.7 million.

While these measures are expected to enhance investor protection and combat financial crime, they are part of a broader, accelerated crackdown by Turkey’s Ministry of Treasury and Finance, signalling a clear intent to exert greater control over crypto asset service providers and users.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news visit PIVX.org and Discord.PIVX.org

The State vs. Satoshi: Turkey’s Battle for Digital Cash Control was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

The post Introducing Mandolin: AI Teammates for Healthcare appeared first on Greylock.

What if virality wasn’t a tactic — but the entire product?

In this episode, a16z General Partners Erik Torenberg and Bryan Kim sit down with Roy Lee, cofounder and CEO of Cluely, one of the most talked-about consumer AI startups of 2025. Cluely didn’t raise a mega round or drop a feature suite to get traction - it broke through by turning distribution into design: launching viral short-form videos, pushing polarizing product drops, and building in public with speed and spectacle.

We cover:

– Why virality is Cluely’s moat

– Building a brand-native AI interface

– The Gen Z founder mindset

– What most startups get wrong about attention

– Why creators are the new product managers

– Cluely’s long-term vision for ambient AI

Cluely is a glimpse at the next generation of startups,  where the line between product and performance is disappearing.

 

Timecodes: 

00:00 Introduction 

01:07 Early Success

02:02 Roy's Journey: From College Kid to Tech Universe

04:37 The Turning Point: Harvard and Beyond

06:57 Building Cluey: The Early Days

08:27 The Viral Strategy: Mastering Algorithms

13:56 The 50 Interns Experiment

15:30 The Investment Journey: Roy and Bryan's Partnership

19:20 Momentum as a Moat: The Future of AI Companies

20:32 The Evolution of Product Strategy in the AI Era

21:19 The Importance of Speed and Adaptability

22:48 The Role of Distribution in Modern Startups

24:26 Roy's Journey and Product Development

25:25 The Power of User Data and Feedback

26:58 Innovative Marketing and Distribution Tactics

28:25 The Future of AI Integration and Translucent Overlays

32:15 Controversial Marketing and Authenticity

34:01 The Impact of Radical Transparency

36:42 The Changing Landscape of Professionalism

38:26 Concluding Thoughts and Future Vision

Resources: 

Find Roy on X: https://x.com/im_roy_lee

Find Bryan on X: https://x.com/kirbyman01

Learn more about Cluely: http://cluely.com/

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

The high-profile integration will help cardholders convert fiat into crypto.

Making sense of crypto's most premiere venues for getting in on options.

The NFC-equipped card allows users to recover access to assets on its newer hardware devices.

The predictions market is reportedly wrapping up a $200 million fundraise.

The post Gen AI Present and Future: A Conversation with Shamim Mohammad, EVP and Chief Information and Technology Officer at CarMax appeared first on Greylock.

US Crypto Landscape – A Washington Perspective

The post Fireside Chat: Kyrsten Sinema, Hogan Lovells Partner and Former US Senator, Arizona appeared first on GDF.

Partnering with Delphi: Meet Your Heroes

Dara, Sam and their team are democratizing access to expertise.

By Jess Lee Published June 24, 2025

What if you could meet your heroes?

What if you could sit down with the best minds in the world—your favorite author, your childhood hero, the sharpest thinker in your field—and ask them anything? Throughout life, we’re shaped by the people we learn from. But the right guidance is often out of reach. The best coaches are booked. The industry veterans don’t take many meetings. And the people we most wish we could hear from—our grandparents, or the genius whose biography sits on our bookshelf—may no longer be around.

What if that wasn’t the case?

That’s the question at the heart of Delphi: What if you could create a digital version of someone’s mind—one that thinks like them, speaks like them and can share their expertise, on demand and endlessly patient?

The first time I met Delphi CEO Dara Ladjevardian, this idea sounded equal parts fascinating and science fiction. But the more I saw it in action, the more obvious—and inevitable—it felt.

Delphi began with one person’s desire to reconnect.

Dara had just quit his job as an engineer at C3.ai and was seeking advice on what to do next. In particular, he wanted guidance from his grandfather Akbar, who was a successful entrepreneur in Iran before the revolution and fled to America to create a better life for his family. But Akbar had suffered a stroke that affected his ability to speak, and could no longer hold the conversations Dara longed for.

What Dara did have, though, was his grandfather’s memoir—and a background in AI. So he used the full text of that book to create the first Delphi, an interactive mirror of his grandfather’s teachings.

Later Dara joined OpenStore, where he used the same technology to build an AI chatbot of Nest co-founder Tony Fadell to help give his team product advice. It was there that Dara met his co-founder, Sam Spelsberg. Together they ran a book club and found common ground in their love of learning from great mentorship through books—then went on to co-found Delphi one month before the launch of ChatGPT.

Fast forward to today, and Delphi is a platform where anyone can build their own “digital mind.” Just connect your existing content—writing, podcasts, interviews, tweets—or sit for an interview, and Delphi handles the rest. The result is an interactive version of your perspective that people can talk to, text or video call—even in languages you don’t speak. The experience feels personal, thoughtful and uncannily true to you.

The diversity of use cases and personas is fascinating, with everyone from PM expert Lenny Rachitsky to Arnold Schwarzenegger using Delphi to multiply their impact. Coaches like Matthew Hussey and Hadar Shemesh scale themselves to hundreds of clients, doctors like Mark Hyman answer patient questions, and professors like entrepreneur/VC Jeff Bussgang offer 24/7 access to their Harvard Business School courses and books. Beyond the obvious business applications, there are also parents who want to preserve their knowledge for their kids, foundations of legends like Ayn Rand who want to sustain legacy, and people who bring Delphi to their IRL meetings as if it’s their own chief of staff. Delphi lets these experts be everywhere to everyone, all at once.

The excitement is catching on inside Sequoia, too. Growth Partner and HubSpot co-founder Brian Halligan uses his Delphi for founder coaching. Design Partner James Buckhouse created one to consult on design and storytelling—complete with insights from his blog. And Sequoia steward Roelof Botha’s Delphi, trained on our Crucible Moments podcast, doesn’t just reflect his knowledge—it even captures his South African accent.

At Sequoia, we’ve seen a familiar pattern with legendary consumer companies: what starts as a niche—cat videos on YouTube, couch surfing on Airbnb, dancing teens on TikTok—can quickly become the new normal. Delphi founders Dara and Sam share the traits we’ve seen in many great consumer founders: clear vision, high conviction, velocity and the ability to win over early believers—including us. We’re proud to lead Delphi’s Series A and support their work toward a future where the world’s best knowledge isn’t locked away—but is instantly accessible to anyone, at any time. A future where you don’t just read about your heroes. You talk to them.

We signed the term sheet on Halloween. Dara was Wolverine. I was Han Solo. Sam’s shirt said “Not a Clone.” That’s Delphi for you: built by superhumans, rebels and people who like to keep it real. If that sounds like you, come join us, we are hiring! Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #AI #Consumer #Funding announcement Partnering with Cove: The Next Gen of Assistants By Jess Lee News Read Partnering with Freed: An AI-Powered Clinician’s Assistant By Josephine Chen and Jess Lee News Read Partnering with Squint: Instructions for the Real World By Jess Lee News Read JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Partnering with Delphi: Meet Your Heroes appeared first on Sequoia Capital.

Start exploring MegaETH’s testnet today to get ready for the next wave of real-time culture apps!

The exchange, which paid a $500M settlement with the DOJ earlier this year, has U.S. IPO ambitions, The Information reports.

The exchange secured a MiCA license in Luxembourg, opening its services to all EU member states.

Tether CEO Paolo Ardoino joines Bankless to discuss GENIUS compliance, U.S. expansion, AI, mining & more.

The crypto stock traded as high as $298 on Monday, valuing the stablecoin issuer at $77B.

In this episode, general partner Chris Dixon joins economist and author Tyler Cowen to explore the themes behind Chris’s book, Read, Write, Own: Building the Next Era of the Internet.

They trace the internet’s evolution from open, decentralized beginnings to today’s consolidated platforms—and ask: how can we build something better? From stablecoins, tokenized payments, and open blockchains to AI's impact on coding, media, and politics, this wide-ranging conversation dives deep into how technologies like crypto and AI could help redistribute power online and reshape the future of ownership and innovation.

The two also debate:

Whether banks and legacy institutions will adopt stablecoins The long-term role of NFTs and digital property rights How AI might rewrite venture capital, education, and economic planning Whether we're heading toward a creative renaissance—or a world of AI-generated monoculture

Listen to similar conversations, listen to web3 with a16z: https://web3-with-a16z.simplecast.com/

 

Resources: 
Listen to Conversations with Tyler: https://conversationswithtyler.com/

Find Chris on X: https://x.com/cdixon

Find Tyler on X: https://x.com/tylercowen

Join a16z’s Crypto Substack:https://a16zcrypto.substack.com/

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

In this episode, a16z general partner Bryan Kim joins TBPN hosts John Coogan and Jordi Hays to discuss the recent launch of Cluely , a consumer AI product. The conversation covers early traction, evaluating distribution and momentum, and how investors assess go-to-market strategies in emerging AI applications.

 

Resources: 

Find Bryan on X: https://x.com/kirbyman01

Watch TBPN: https://www.tbpn.com/

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Weekly Recap: Zora unveils Creator Coins, Fileverse launches dSheets.

Explore how ZKP2P’s V2 offers a privacy-preserving, low-cost way to move funds on and offchain

As the summer tour of European crypto conferences landed in Berlin, one of crypto’s cradles, we couldn’t miss DappCon 25, where we got to sit with Jerome de Tychey, Nixorokish & Joshua Dávila to discuss Ethereum’s restructure and whether its culture is still relevant to the wider crypto community. Join us for a fascinating discussion on the impact of crypto politicization and how Ethereum’s ecosystem evolved amidst a society with ever-changing values.

Topics covered in this episode:

Jerome, Nixorokish & Josh backgrounds Ethereum Foundation restructuring Ethereum’s culture & crypto politicization DAOs & the evolution of Ethereum’s ecosystem Is privacy still a societal value? User experience & account abstraction Future hopes for Ethereum

Episode links:

Jerome de Tychey on X Nixorokish on X Joshua Davila on X DappCon on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus One: one of the largest node operators worldwide, trusted by 175,000+ accounts across more than 60 networks, Chorus One combines institutional-grade security with the highest yields at - chorus.one

This episode is hosted by Friederike Ernst.

How is AI actually being used in classrooms today? Are teachers adopting it, or resisting it? And could software eventually replace traditional instruction entirely?

In this episode of This Week in Consumer AI, a16z partners Justine Moore, Olivia Moore, and Zach Cohen explore one of the most rapidly evolving — and widely debated — frontiers in consumer technology: education.

They unpack how generative AI is already reshaping educational workflows, enabling teachers to scale feedback, personalize curriculum, and reclaim time from administrative tasks. We also examine emerging consumer behavior — from students using AI for homework to parents exploring AI-led learning paths for their children.

 

Resources:

Find Olivia on X: https://x.com/omooretweets

Find Justine on X: https://x.com/venturetwins

Find Zach on X: https://x.com/zachcohen25

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Bankr’s AI trading bot is a hit. Here’s how to onboard, prompt trades, and unlock premium perks.

Morpho’s $6B lending empire is a rising star for borrowing and earning in DeFi.

Exploring the top yield hubs fueling DeFi Summer’s latest rush.

Welcome to Empeiria’s monthly developer update!

We’re excited to bring you the latest enhancements and features that continue to push the boundaries of decentralized identity and privacy-preserving technologies..

1. Revocation List Implementation

One of the major milestones this month is the implementation of the Revocation List based on the Bitstring Status List v1.0 standard.

This feature is a critical component of our Self-Sovereign Identity (SSI) framework, as it enables the dynamic revocation of credentials in a way that preserves user privacy.

Verifiers can check the revocation status of a credential without revealing any identifying information about the holder. The revocation list is published on the blockchain, ensuring it is always accessible, tamper-proof, and resistant to falsification. 2. OneClick Portal Enhancements

Our OneClick portal has received significant updates to improve user experience and functionality:

Subscription Plans and Payments
We’ve introduced a variety of subscription plans, along with seamless payment options and suggestions, making it easier for users to select and pay for the services they need. Log Viewing
Users can now access detailed logs for their services, offering greater transparency and control over their deployments.

These updates make the OneClick portal fully ready for production use, empowering users to manage their identity services with ease.

3. Blockchain Update with Linked Resources Support

We’ve successfully updated our blockchain to a version that includes support for linked resources, a feature we highlighted in last month’s update. This update allows for:

More flexible and powerful interactions within the Empeiria ecosystem. Improved management of decentralized identifiers (DIDs) and verifiable credentials (VCs) through blockchain-anchored resources. 4. Comprehensive Testing

Quality assurance remains a top priority. This month, we’ve conducted extensive end-to-end integration tests for verifying the reliability, performance, and security of the entire ecosystem.

Components Tested: Issuer, verifier, wallet, and blockchain.

These tests provide an additional layer of confidence as we prepare for broader adoption and real-world use cases.

5. New Company Website

We’re proud to announce the launch of our completely redesigned company website for better communication of our mission, offerings, and the value we bring to the verifiable data space.

Explore the new site to learn more about our vision and the solutions we’re building: https://empe.io/

6. Web-Based Wallet for Holders

To support both testing and future development, we’ve introduced a web-based wallet for holders:

Testing Utility
This wallet allows for easy interaction with our system during development and testing phases. Foundation for AI Agents
Web-based Wallet serves as a base for AI agents to manage their identity data, enabling more autonomous and intelligent identity interactions.

This tool is a stepping stone toward more advanced use cases, including AI-driven identity management.

7. DevOps and Production Environment Preparation

Behind the scenes, our DevOps team has been busy preparing the production environment for the launch of critical components such as issuers and verifiers to ensure that our systems are robust, scalable and secure.

This work is essential for supporting our growing user base and maintaining high availability.

These updates represent significant steps forward in our mission to deliver a secure, user-friendly, and innovative identity management solution.

From enhancing privacy with revocation lists to preparing our infrastructure for production, we’re laying the groundwork for the future of decentralized identity.

We’re grateful for your continued support and look forward to sharing more exciting developments in the coming months. Stay tuned!

Partnering with Traversal: Because every engineer remembers their first time … troubleshooting

Anish, Ahmed, Raaz and Raj are bringing AI to troubleshooting—one of the biggest pain points for engineering teams.

By Bogomil Balkansky and Charlie Curnin Published June 18, 2025 TEAM TRAVERSAL.

We’ve been looking for a company like Traversal for years. 

For more than a decade, we at Sequoia have been obsessed with “the rise of the developer,” guiding our partnerships with companies that cater to engineers like GitHub, MongoDB and Stripe. And Bogomil has been fascinated with observability for years: shortly after joining Sequoia in 2020, after a friend pointed out to him that “observability is a s***show,” he identified that a new generation of tools would help technical teams care for their systems.

More recently, it became clear that the road to reinventing observability ran through AI. Back in 2023, as GitHub Copilot caught lightning in a bottle, Charlie and our partners Stephanie and Josephine recognized that founders might apply AI to many problems engineering teams face beyond writing code. One we were excited about in particular was troubleshooting, the painstaking process of finding the root cause of a bug, often using observability data.

All we needed to do was find the right team to work with. 

Believe it or not, our relationship with Traversal’s team dates back years, too. Traversal’s founder, Anish Agarwal, knew our partner, Shaun Maguire, and former partner Dan Chen through their shared alma mater, Caltech. They remembered him as the star student who somehow managed to triple major, excel on the tennis team and still have a social life. Charlie knew co-founder Ahmed Lone, met the rest of the team and encouraged them to apply to Arc, our company-building program for Sequoia pre-seed and seed-stage founders.

They were the type of team we were looking for. In our view, AI troubleshooting was first and foremost an AI problem, and an observability problem only second. Traversal’s team of three Ph.D.s from MIT and Berkeley, who’d studied causal ML and reinforcement learning—and one former Citadel Securities quant trader who’d lived this problem firsthand—seemed like the right fit. 

In March 2024, when we finally all got in one room—Sequoia’s San Francisco space atop a chocolate factory—it was obvious to us as investors what to do. 

Observability is one of the crown jewels of infrastructure and a hotspot for generational companies. Businesses like Splunk, Datadog, Grafana and Cribl help thousands of engineers monitor their systems and generate billions in annual revenue in the process. And still, the job is unfinished. Troubleshooting remains deeply painful.

Picture getting woken up at 3 a.m., gathering with dozens of people in a Slack war room and “dumpster diving” through heaps of observability data to find the proverbial “needle in a haystack” root cause. That’s what engineers today do to troubleshoot. It takes hours, sometimes days, sometimes the needle is never found at all. When there are issues (and every software company has issues), slow troubleshooting costs companies dearly in terms of missed revenue and customer trust. And it costs devops and site reliability engineers (SREs) dearly in terms of lost sleep and missed dates.

Troubleshooting is so painful, in fact, that “Every engineer remembers their first time”—their first production incident, that is—in the words of Traversal (then Interaction Labs) co-founder Ahmed, a former quant trader at Citadel Securities, where troubleshooting is about as high stakes as it gets. Below, he talks about a harrowing experience of troubleshooting, with minutes before the market opened. 

AHMED TALKING ABOUT HIS “FIRST TIME”—TROUBLESHOOTING—A HARROWING EXPERIENCE AS A QUANT TRADER, MINUTES BEFORE THE MARKET OPENED. 

Traversal automates troubleshooting. Their AI SRE uses a unique mix of LLMs and causal ML to do the dumpster diving, finding root causes automatically. Traversal does the dirty work, so engineers can fix problems ASAP. Companies save money and gain customer trust, and engineers no longer need to pull their hair out in the middle of the night. 

Traversal only got started a year ago, and already they’re showing they can deliver real business ROI to companies like DigitalOcean, American Express, Cloudways, Eventbrite and more. LLMs aren’t always great troubleshooters out of the box, but Traversal’s team has developed a unique approach: swarms of parallel investigations with proprietary statistical tools make them immediately effective at enterprise scale. 

Combine their technical skills and sense of humor with their customer obsession and ability to recruit exceptional talent, and you’re starting to get a picture of Traversal’s team. That’s why we’re so excited to be their partners after leading their seed round a year ago, and to support their mission: making life for engineers and engineering teams much, much better. 

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #AI #Funding announcement Partnering with FastAPI Labs: Simplified App Deployment By Bogomil Balkansky and Lauren Reeder News Read Partnering with Listen Labs By Bryan Schreier and Charlie Curnin News Read Partnering with Apex Security: The AI-Empowered Future, Secured By Bogomil Balkansky News Read Partnering with Reflection By Stephanie Zhan and Charlie Curnin News Read JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Partnering with Traversal: Because every engineer remembers their first time … troubleshooting  appeared first on Sequoia Capital.

What if the rise of Apple also built modern China?

a16z’s Erik Torenberg is joined by board partner and former Microsoft Windows chief Steven Sinofsky to unpack how Apple’s pursuit of design excellence and supply chain scale catalyzed China’s manufacturing superpower status - and why that partnership is now under intense scrutiny.

Inspired by the book Apple in China (but not a book review), the episode dives deep into:

The early days of Apple’s shift to Chinese manufacturing  What experts got wrong in 1999 about trade, globalization, and China’s trajectory How Tim Cook’s operational playbook reshaped the global tech industry Behind-the-scenes stories from Microsoft’s own hardware battles and Surface launch Why Apple’s entanglement with China may now be a strategic liability What COVID revealed about fragile global dependencies — and where innovation goes next How national policy, intellectual property, and AI intersect in the new industrial era

The episode opens with a few reactions to WWDC: Apple’s new UI, the iPad’s evolving role, and why Apple’s AI story still feels unfinished - before zooming out into one of the most consequential tech and geopolitical stories of our time.

TImecodes:

00:00 Introduction

00:37 Guest Introduction: Steven Sinofsky

00:49 WWDC Reactions and Apple's AI Story

02:27 WWDC Highlights: Liquid Glass and iPad Updates

05:16 Apple's AI Strategy and Market Dynamics

06:34 Meta's AI Moves and Market Implications

13:30 Apple's Manufacturing Evolution: From Garage to Global

20:50 The Rise of ODMs and Global Manufacturing

26:32 Microsoft's Struggle with Piracy in China

27:19 Apple's Revolutionary MacBook Air

29:30 Challenges in PC Manufacturing

31:05 The Rise of Chinese Manufacturing Skills

32:07 The Point of No Return for Apple and China

32:59 Global Trade and Intellectual Property Issues

37:04 COVID-19's Impact on Global Manufacturing

41:19 Future of Innovation and Manufacturing

47:10 Navigating Intellectual Property in the AI Era

48:55 Conclusion and Final Thoughts

Resources:

Find Steven on X: https://x.com/stevesi

Find Erik on X: https://x.com/eriktorenberg

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Check out this list of starter resources for trying out Kraken's Ink L2.

Breaking down GENIUS and laying out the bill's USDT impact.

The Ethereum L2 is planning a token airdrop, its foundation says.

The @pumpdotfun account and Pump founder Alon's handle were among those suspended Tuesday.

Over 35 million ETH, or 29% of the total circulating supply, is being staked.

Partnering with Crosby: A Law Firm at the Speed of AI

Ryan, John and their team are pairing legal LLMs and bright legal minds to enable companies scaling quickly to execute their contracts faster than ever.

By Josephine Chen and Alfred Lin Published June 17, 2025 CROSBY CO-FOUNDERS JOHN SARIHAN AND RYAN DANIELS.

In the age of AI, everything from coding to design to sales is moving faster — but contracting remains slow and has become a major impediment, especially for companies that are scaling fast. 

Crosby lets the fastest growing companies reach agreement between humans, at the speed of software. They’re bringing together world-class legal and engineering talent to build the world’s first hybrid law firm, one that combines human oversight with AI’s superhuman speed.

Semantics, details and nuance are foundational in law. Crosby co-founders Ryan Daniels and John Sarihan recognized that people are still better than technology at capturing the subtleties of certain clauses and connecting the dots between business context and legal documents. Crosby built their product accordingly, with both people and AI agents playing a vital role. Agents handle initial passes at standard changes, flag common issues and prepare preliminary redlines, allowing Crosby’s attorneys to focus on strategic decisions and complex legal reasoning. 

That MSA you need signed ASAP? Crosby will return a marked-up copy in less than an hour, advising which terms to accept or push back on based on their context about your business. Crosby plugs into your existing deal desk workflow, ingests inbound contracts and order forms and delivers results faster than any human, at a fraction of the cost. 

Critical to Crosby’s success is the complex knowledge base they build for each customer, incorporating legal preferences and becoming more bespoke over time. Ultimately, Crosby will enter a negotiation understanding everything about your preferences — and the preferences of the business across the table — so it can suggest the optimal solution. Your contract process is faster and more affordable, without sacrificing trust or quality. Crosby provides your company the same legal resources as a larger enterprise, and frees up your GTM team to do what they do best: closing deals and winning, faster. 

We’re already seeing this happen for Crosby’s customers, including Cursor, Clay and UnifyGTM. They’re processing sales contracts in two hours or less, saving thousands of dollars and dozens of hours as Crosby turns what once was an expensive, lengthy process into a competitive accelerant.

Like Crosby itself, Ryan and John’s partnership pairs exceptional legal and engineering talent. We at Sequoia already knew John, a phenomenal engineer and product leader, from his days at Ramp. Ryan worked with our general counsel at Cooley after researching legal AI at Stanford Law. The two of them are wonderfully complementary and have incredible chemistry, which has translated to them building a killer team and serving raving customers. We are proud to lead Crosby’s seed round, and to be alongside their expanding team as they become a trusted partner for fast-growing companies.

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #AI #Funding announcement Partnering with Nuvo: The Future of B2B Commerce By Bryan Schreier and Josephine Chen News Read Partnering with Nominal By Anas Biad and Alfred Lin News Read Partnering with Freed: An AI-Powered Clinician’s Assistant By Josephine Chen and Jess Lee News Read Partnering with Cobot: Builders at Heart By Alfred Lin News Read JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Partnering with Crosby: A Law Firm at the Speed of AI appeared first on Sequoia Capital.

Why AI Labs Are Starting to Look Like Sports Teams

With compute more abundant, talent is the new bottleneck in AI. Star players are signing pay packages that resemble those of professional athletes.

By David Cahn Published June 17, 2025

I wrote extensively about AI last summer, starting with AI’s $600B Question, The Game Theory of AI CapEx, AI is Shovel Ready, Steel, Servers & Power, and ending with AI’s Supply Chain Tug of War.

Reflecting one year later, it’s interesting how little has changed: AI’s $600B Question is now roughly AI’s $840B Question, assuming that Nvidia reaches something like $210B in run-rate data center revenue by year-end 2025. OpenAI remains the lion’s share of AI’s overall revenue, crossing $10B recently, according to Reuters. The total revenue in the AI ecosystem still pales in comparison to the dollars that have been put into the ground — if anything, my estimates last year around how much revenue the Big Tech companies were making on AI were probably too high.

There have been three major improvements in AI over the last year: First, coding AI has really taken off. A year ago, the demos for these products were mind-blowing, and today, the coding AI space is generating something like $3B in run-rate revenue. The second change is that reasoning has found product-market fit, and the AI ecosystem has gotten excited about a second scaling law, around inference-time compute. By repeatedly querying these models and by using reinforcement learning, we can get better, more robust results. And finally, there seems to be a “smile curve” around ChatGPT usage, where this new behavior is really getting ingrained into day-to-day life.

The app layer ecosystem for AI has continued to improve, leveraging cheap compute and integrated workflows to build durable businesses. More abundant compute has been good for the startup ecosystem, and companies like Harvey, Sierra, Abridge, SmarterDx, Perplexity, OpenEvidence, Clay, Sesame and many others have made great strides around packaging this capability for their customers. Our ambition one year ago was to back as many of these companies as possible, and that continues to be our ambition today.

There is one dynamic, however, that has really changed since last year. A year ago, everyone was talking about cluster size and pre-training scaling, and now that seems to have quietly disappeared from the public dialogue. Perhaps this is because new clusters are taking longer to get online, or because as Ilya Sutskever said in December, “Pre-training as we know it will end.” By the same token, one year ago we were seeing a consolidation in research labs because of the daunting costs of building a foundation model lab. Microsoft/OpenAI, Amazon/Anthropic, Google, Meta and xAI emerged as five “finalists” in the AI race as others folded, because these companies had reached GPT-4 level models and had sufficient capital to continue scaling. Now, by contrast, a new cohort of players has sprouted up, including SSI, Thinking Machines, and DeepSeek, who claim talent, not raw compute scale, as their primary differentiators.

Whereas one year ago the narrative was around pre-training compute requirements driving consolidation, today the narrative is all about talent advantages being critical in a world of increasing compute abundance. This is especially true for Google and Meta. Google is under siege from a product positioning perspective and is doing everything in their power to reverse this dynamic. Meta’s bold decision to acquire a 49% stake in Scale and bring in CEO Alex Wang to lead their new “founder mode” AI lab is an even more clear move in this direction. For both companies — and for the ecosystem at large — the message of 2025 is that large-scale clusters alone are insufficient. Everyone understands that new breakthroughs will be required to jump to the next level in the AI race — whether in reinforcement learning or elsewhere — and talent is the unlock to finding them.

With their obsessive focus on talent, the AI labs are increasingly looking like sports teams: They are each backed by a mega-rich tech company or individual. Star players can command pay packages in the tens of millions, hundreds of millions, or for the most outlier talent, seemingly even billions of dollars. Unlike sports teams where players often have long-term contracts, AI employment agreements are short-term and liquid, which means anyone can be poached at any time. One irony of this is that while the notion of AI race dynamics was originally popularized by the AI safety community as a boogeyman to avoid, this is exactly what has been wrought across two distinct domains: First compute and now talent.

I think this is a function of human nature. When have humans ever seen something wonderful, and then said, “Now we have enough, it’s time to cool off?” It is an intrinsic property of humanity that once critical thresholds are passed, we take things all the way to the extreme. We cannot hold ourselves back. And when the prize is as big as the perceived AI prize is, then any bottleneck that gets in the way of success — especially an illiquid bottleneck like talent — will be pushed to staggering levels.

And yet, even amidst this fierce competition, the broader AI ecosystem also feels calmer today than at any point in the last three years. That’s because for most people, the race itself is now a constant and the market structure feels stable. People are getting comfortable with the status quo. The unstable competitive equilibrium is itself stable — for now.

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Why AI Labs Are Starting to Look Like Sports Teams appeared first on Sequoia Capital.

Exploring Lens, where Lens Chain, GHO, and the Grove data layer power monetizable, user-first onchain apps.

Why I came back to Farcaster—and why now might be the perfect time for others to rediscover it too.

The firm linked to Sun is working closely with Eric Trump who will hold a senior leadership role at the company.

Bitcoin remains an untapped source of net-new liquidity that could be injected into DeFi. This would completely reshape Bitcoin’s utilization from a mere store of value to a liquid asset that can be ported cross-chain and traded like a liquid staking derivative. Lombard’s LBTC builds upon Babylon’s Bitcoin staking primitive and aims to unlock new yield sources for the industry’s leading asset by increasing its DeFi utilization.

Topics covered in this episode:

Jacob’s background Lessons gathered from Polychain Focusing on Bitcoin Why Bitcoin staking is crucial for BTC DeFi Building on top of Babylon LBTC minting Sources of BTC yield PoS inflation and native token incentives BTC as a trading pair in DeFi Lombard chain Future challenges to overcome Bitcoin L2s Lombard milestones

Episode links:

Jacob Phillips on X Lombard on X Babylon on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus One: one of the largest node operators worldwide, trusted by 175,000+ accounts across more than 60 networks, Chorus One combines institutional-grade security with the highest yields at - chorus.one

This episode is hosted by Brian Fabian Crain.

Trump's social media company is showing few signs of slowing down as it continues to dive into the crypto space.

The post Introducing Aspora: The Financial Super App for the Global Diaspora appeared first on Greylock.

In this recent episode of The Ben & Marc Show, a16z co-founders Marc Andreessen and Ben Horowitz sit down with Adam Neumann—founder of WeWork and now Flow—to unpack one of the most unlikely comeback storie s in tech.

What began as a personal reckoning after a very public fall has become a bold new vision for how we live and belong. Flow isn’t just a real estate company—it’s an operating system for community, built on first-principles software, design, and soul.

Joined by a16z General Partner Erik Torenberg, the group goes deep on:

Why Adam’s childhood shaped his obsession with community Adam’s fall from WeWork—and how he found a new path to redemption How Flow is re-architecting real estate from scratch Why loneliness is the greatest design challenge of our time

With reflections on dyslexia, the American dream, and the thin line between failure and greatness, this is a candid and wide-ranging conversation about redemption, vision, and building something that matters in this world. We hope you enjoy this deeply human conversation about the future of living.

Timecodes

00:00 Introduction 

00:51 Adam's Early Life and Family Background

07:56 Military Service and Discipline

10:08 Transition to the US and Education

14:43 Entrepreneurial Journey Begins

17:49 The Concept of Flow and Vision

20:28 Meeting and Partnership Formation

25:22 Overcoming Challenges and Resilience

28:30 The Isolation Phenomenon

30:03 Navigating Post-Crisis Relationships

31:50 Real Estate Strategies During COVID

33:47 The Genesis of a New Venture

36:47 Lessons from WeWork

38:49 Building Flow: The Vision

41:44 The Importance of Alignment

51:23 Technological Innovations in Real Estate

55:44 Revolutionizing Real Estate Software and Flexible Living Solutions

56:28 Challenges and Innovations in Multifamily Housing Rental Markets

58:40 Global Housing Crisis and Solutions

01:06:10 Expanding to Saudi Arabia

01:08:49 Success in Saudi Arabia

01:12:43 Real Estate Funds and Future Plans

01:19:10: Why Is This an Opportunity? 

01:20:45 Impact of COVID on Living and Working

01:26:14 Future Potential of Housing and Living

Resources: 

Read Marc's blog post about Flow: https://a16z.com/announcement/flow/

Marc on X: https://x.com/pmarca 

Marc’s Substack: https://pmarca.substack.com/ 

Ben on X: https://x.com/bhorowitz 

Erik on X: https://x.com/eriktorenberg 

Erik's Substack: https://eriktorenberg.substack.com/

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Public disclosures show the sitting President is minting cash from his crypto ventures.

Partnering with Aspora: Diaspora Banking Goes Global

Parth and his team are bringing digital banking to immigrants around the world.

By Luciana Lixandru, George Robson, and James Flynn Published June 15, 2025 PARTH GARG, FOUNDER OF ASPORA.

The day we met Parth Garg, we knew he was special. After an intro over Zoom, we scheduled a 24-hour trip to see him and the Aspora team in-person—and found them crammed into a Dubai hacker house, pushing tirelessly toward a major campaign. When we asked where we should go to discuss a possible partnership, Parth suggested perching on a few armless chairs in the apartment’s tiny, windowless and very active kitchen.

We ended up finding a spot to chat in our hotel that was a bit more comfortable for a three-hour meeting, but that moment reinforced what we already knew and loved about Parth: he was intensely focused on the company. Success in fintech often hinges on building not only in the right order, but also as quickly as possible. Parth is in the 99th percentile on both.

He is also smart, ambitious, decisive—and all the more impressive, self-taught. Born in India but growing up across the Middle East (where he played cricket, acted, participated in Physics Olympiads, and founded an NGO) Parth saw the roadblocks his parents and other non-resident Indians (NRIs) faced to participating in India’s economy. By age 21, he had dropped out of Stanford to solve the problem himself with Aspora.

The Indian diaspora represents one percent of the country’s population, but has a massively outsized impact on its economy. These 15 million NRIs don’t just send money home to their families. They also invest in the booming Indian stock market, take out loans, and account for close to a quarter of the country’s real estate transactions. But opening an NRI account with a legacy bank is still a painful, months-long process of mailing paper forms and even flying back to sign in-person.

This is a problem for Indians abroad, but also for most other immigrant communities. Aspora is bringing diaspora banking into the modern age, with fully digitized services to allow global diasporas to participate in their home countries’ growth stories—starting with non-resident Indians around the world. Parth and his team have already transformed remittances for these customers, streamlining the process of sending money home at half the cost of competing solutions. Next, Aspora will expand to offer a comprehensive neobanking product, with access to local savings, investing and more. And the product is just the beginning of Aspora’s growth: while the NRI market itself is massive, it is just one of many diasporas that want to support the economy at home.

We at Sequoia were privileged to be among Aspora’s first believers when we led their Series A late last year, and in the few short months since, their performance has reached new heights. Like Parth himself, the team around him is relentlessly driven and intent on delighting their customers, delivering constant product improvements and drastically cutting transaction times. Their customers have responded in kind, and total payment volume has increased every month, to approximately $2B today. 

To stay ahead of that rapid growth, Aspora is ramping up hiring, looking for ambitious, hungry people to help them solve this complex problem. If you are interested in joining this remarkable team, please reach out. 

As Parth worked out of Sequoia’s London office in recent months, we’ve had a firsthand view of his leadership. He is a dynamo, with maturity to match his intensity and an ability to go deep on every aspect of the business, and our conviction in him and the high-caliber Aspora team has only grown. We are excited to support them as they scale—and as Aspora expands into the U.S., Canada and Europe—by doubling down and co-leading their Series B.

Aspora’s new HQ here in London is a far cry from that crowded apartment where we first met, but Parth and his team remain fiercely focused on the same mission that drove them back then. We can’t wait to see how they bring digital banking, and new opportunities, to immigrants all over the world.

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #Fintech #Funding announcement UiPath: From Bucharest to Global Category Leader Crucible Moments S2: EP4 Podcast Listen Partnering with nsave: Trusted Accounts For Everyone By George Robson News Read Partnering with Robco By Luciana Lixandru, Shaun Maguire and Cornelius Menke News Read Partnering with Tola: Cash-Flow Management for Small Businesses By George Robson News Read JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Partnering with Aspora: Diaspora Banking Goes Global appeared first on Sequoia Capital.

Weekly Recap: Farcaster releases Pro NFTs, OpenSea deprecates Deals.

OpenAI may be building a social network, and World could provide the human verification, infrastructure, and incentives to power it.

Grading the corporate crypto treasury plays catching headlines this summer.

Coinbase brought out the big guns at its State of Crypto Summit in New York City. Here's what they announced.

The firm, which is now the largest corporate holder of ETH, dropped 66% in after-hours trading Thursday.

The highly anticipated stablecoin bill is likely to get the stamp of approval from lawmakers on Tuesday.

Things in consumer AI are moving fast. In this episode, Justine and Olivia Moore, investing partners (and identical twins!) at a16z, break down what’s real, what’s overhyped, and what’s next across the consumer AI space. They cover: 

Veo 3: how Google's video model unlocked a new genre of content  OpenAI’s Advanced Voice Mode: upgrades, realism, and... um, human-like hesitation  Apple's AI announcements  11Labs V3: expressive voice tags, real-time interruptions, and narrative tools for creators  New data from a16z: AI consumer startups are ramping revenue faster than ever—and they show you how  Justine walks through how she used ChatGPT, Ideogram, and Krea to launch a fully AI-assisted brand prototype (store photos and all)

Timecodes: 

00:00 Introduction  

00:28 Meet the Hosts: Justine and Olivia

00:44 Veo 3: The Game-Changer in AI Video

06:34 ChatGPT's Advanced Voice Mode Updates

10:22 Apple's AI Announcements and Siri's Shortcomings

12:18 11 Labs' New Voice Model: 11 V3

15:50 Report from a16z: AI Revenue Growth

23:14 Demo of the Week: AI in Brand Creation

Resources: 

Read ‘What “Working” Means in the Era of AI Apps’: https://a16z.com/revenue-benchmarks-a... 

Find Justine on X: https://x.com/venturetwins 

Find Olivia on X: https://x.com/omooretweets

Tools Discussed: 

Veo 3: https://gemini.google/overview/video-... 

OpenAI: https://openai.com/chatgpt 

11Labs (V3 voice model) – https://elevenlabs.io/ 

Ideogram (logo/image generation) – https://ideogram.ai/ 

Black Forest Labs/Flux Context (image editing via Krea) – https://www.krea.ai/ 

Flux Context demo (Krea launch post) – https://www.krea.ai/blog/flux-context 

Hedra: https://www.hedra.com/

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

The newspaper shares that the retail giants are weighing their own stablecoins amid increasing legal clarity.

San Francisco, CA, June 12, 2025 – At AWE USA 2025, XRSI, a global Standards Developing Organization (SDO), announced the launch of the Responsible Data Governance (RDG) 2025v1. This first-of-its-kind global standard is designed to help organizations mitigate data exposure risks across AI, cloud, immersive, and traditional environments. RDG offers a structured approach to building trust throughout the entire data lifecycle, encompassing creation and collection, storage, processing, sharing, archiving, and deletion.

RDG applies to any organization that designs, deploys, or operates technologies that interact with real-world user behavior, make algorithmic decisions, handles sensitive or inferred data that spans industries such as healthcare, education, government, and consumer platforms.

“RDG is how we move from aspiration to accountability,” said Kavya Pearlman, Founder and CEO of XRSI, “it gives organizations a clear, certifiable way to demonstrate responsible data use from the moment they begin.”

RDG turns fine-print promises into clear, auditable proof of trust.

From the moment you start your journey with RDG you earn a publicly verifiable Seal to demonstrate your commitment. This is a clear signal to your customer base of your intent to demonstrate your trust. As you go through your assessment and demonstrate adherence to the 7 goals of RDG, your certification is granted.

RDG – A New Global Baseline for Trustworthy Data Governance

The RDG standard is built around seven strategic goals:

Comprehensive Data Lifecycle Management Role-based Accountability Process Standardization Third-Party Data Governance Automated Decision Making & Use of AI Systems Alignment with Regulatory Compliance Continuous Improvement

Certified organizations, through accredited Certifying Bodies (CBs), receive:

A two-year certification with annual check-ins A publicly verifiable Seal of Trust Audit reports and evidence-based validation Sector-specific deployment support and custom integrations RDG – Independent Certification Administered by Cautelare

Cautelare is the Principal Certifying Body responsible for ensuring the quality and long-term integrity of the RDG certification process. Tasked with administering assessments and overseeing compliance, Cautelare plays a critical role in upholding the RDG standard through impartial oversight and mission-aligned governance.

“We’re putting the XRSI RDG standard into practice by working directly with the visionary organizations that recognize its value,” said Kavya Pearlman, Founder and CEO of XRSI. “XRSI created the standard, but we’re choosing to stay actively involved to ensure that the first wave of adopters gets it right with Cautelare.”

RDG – Globally Aligned, Immediately Actionable

RDG functions as a flexible overlay to existing compliance regimes, simplifying complexity while providing a measurable path toward governance maturity and regulatory readiness.

RDG 2025v1 Release

The standard is available for reading now at https://rdg.xrsi.io
and is on its inaugural version (2025v1).

WEBSITE AND SOCIAL MEDIA

https://xrsi.org/  | https://cautelare.com/ | X Account – XRSI | LinkedIn Account – XRSI

ENDS

For any inquiries or more information, please contact XRSI via info@xrsi.org

Partnering with Nominal: Powering the Next Era of Hardware Engineering

Cameron, Jason and Bryce are building the modern software stack that hardware teams have always needed but never had.

By Anas Biad and Alfred Lin Published June 12, 2025 Jason, Cameron and Bryce.

Hardware engineers built the electric grid, put humans on the moon and connected continents with airplanes. They designed the world we live in. 

The hardware manufacturing that enabled those innovations followed a linear process: build a prototype -> test it -> validate it -> move to large-scale production. This process assumed long timelines, rigid production cycles and minimal testing after deployment. It worked in an era when hardware products were shipped every decade, not every year. 

But we are entering a new age of hardware. Reindustrialization, rising defense spending, global competition and the pace set by companies like SpaceX are putting pressure on hardware teams to move fast. Today’s hardware engineers need to continuously test, build and improve their systems, not just once, but throughout the entire development and operations.

This approach of continuous building and testing is not a new concept. It happened in software engineering and defined the cloud era. But, it has mainly remained unachievable in hardware, as we simply didn’t have a modern, purpose-built technology stack for it. Instead, hardware engineers were relying on workarounds, often involving a patchwork of solutions not built for hardware telemetry, and strung together with custom code or working with incumbent hardware testing systems from the 1980s, intended for traditional hardware companies that ship new products every 10 years, not every 10 weeks. 

Nominal’s three co-founders, Cameron McCord, Jason Hoch and Bryce Strauss, saw these pain points firsthand from their experiences at the U.S. Navy, Lockheed Martin and with Palantir’s customers. They founded Nominal to finally solve this and enable hardware engineers to continuously test and build physical products in the same way software engineers continuously test and build digital products.

Nominal is building a multi-product platform. There are currently two publicly available products, with additional announcements to follow.

Nominal Core was the first product. It enables engineering teams to manage, monitor, and analyze hardware telemetry data in a single, collaborative environment, from testing to production and operations. Nominal Connect is the second product launched earlier this year. It’s a solution to build hardware-in-the-loop test applications for automation and edge processing.

These software-for-hardware products are already transforming how hardware engineers design and build their products. Nominal’s current customers range from modern hardware startups and scale-ups to very large enterprises, from defense/aerospace to energy and transportation, from the U.S. to Europe, and from the DoD to commercial customers. 

These successes, among others, are just the beginning, and we are excited to lead their Series B and be by their side in creating and defining this new software category that will power the next era of hardware.

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #Funding announcement #Hardware Partnering with Clay: On a Mission to Grow By Mike Vernal and Alfred Lin News Read Partnering with Avelios: Healthcare for the Modern Age By Anas Biad News Read Partnering with Finch: AI-Powered Justice By Alfred Lin News Read Partnering with Veed: The Future of Video News Read JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Partnering with Nominal: Powering the Next Era of Hardware Engineering appeared first on Sequoia Capital.

Op-Ed: Wall Street understands the value of BTC. Here's how institutions should think about the opportunity to own ETH.

A bipartisan group of Senators voted the bill forward, with final approval likely set for the coming days.

Savvy acquisitions are setting Stripe up in prime position to take stablecoin adoption supersonic.

Check out these new onchain apps serving fresh takes on collectibles, social trading, and beyond.

After nearly 5 years of dedicated service as an Engineering manager at Zcash Foundation, we’re excited to share that Pili will be taking a well-deserved, brief sabbatical. From July 1, 2025 through  September 30, 2025, Pili will be stepping away to recharge and spend quality time with her family.

We wholeheartedly support Pili’s decision to take this break and look forward to welcoming her back refreshed and re-energized this fall.

What’s Next?

During Pili’s sabbatical, technical project management responsibilities will be handed over to Natalie Eskinazi (@nsheep). As a capable and longstanding member of the engineering team, Natalie brings a wealth of experience and a deep understanding of our projects. We’re confident that the transition will be seamless, and the ZF engineering team will continue its work as usual.

Keep Testing Zebra

We encourage everyone in the community to continue testing Zebra, sharing your feedback, and collaborating with the ZF engineering team. Your continued engagement is invaluable and helps us build a stronger, more resilient ecosystem.

We invite you to reach out to our team by opening issues or discussions on the Zcash Foundation Zebra Github repository or messaging us on the Zcash R&D discord, in the #zebra channel.

The post Announcing Pili’s Sabbatical appeared first on Zcash Foundation.

The payments giant is acquiring the wallet infrastructure startup for an undisclosed sum.

Sandeep Nailwal is taking control at the Polygon Foundation, saying the community 'needs clear direction.'

Today Stripe is announcing the acquisition of our portfolio company Privy. We originally partnered with Henri Stern and Asta Li in the Seed Round (co-lead with Sequoia) in 2021, and have invested in every round since then (joining Paradigm and Ribbit Capital as they led later rounds). Henri’s reputation as a crisp intellectual and rigorous executor from his days at Protocol Labs made us pay attention when we heard he was going to build a new company, and meeting his co-founder Asta Li gave us the conviction that this was going to be an n of 1 team for the mission.

Privy started a little over three years ago and, in that short period, has built the preeminent infrastructure for the adoption of crypto wallets, supporting 75 million accounts, over 1,000 developer teams and billions of transactions. Maybe most importantly, Privy is a key enabling fabric for a plethora of crypto rails-based applications. We are ecstatic for the team, and have been in awe of their execution quality, drive and tenacity that powered them through the inevitable dark hours that arise on any entrepreneurial journey.

While discussing the merits of partnering with Stripe together, Henri said something to us that stuck: “it’s not a finishing line–it’s a starting line” — because Privy has also built a core pillar for the future adoption of stablecoins and the enablement of new financial applications. Teaming up with Stripe and working with the Bridge team, will allow Privy to tap into one of the internet’s largest ecosystems to further execute on their vision.

Though from the outside it may have looked like an easy ride for Henri and Asta, the truth is much more complicated. They started the company with a seemingly very different mission: to provide an infrastructure for privacy as a service so small to medium-sized companies could operate safely on sensitive user data without having to give up important usability features which rely on PII such as emails & notifications. As user privacy & security is a core part of the founding DNA of Privy, their evolution to providing leading wallet infrastructure was not only in line with their ideals but with the expertise they had already built in technologies such as TEEs (Trusted Execution Environments) and safe UX. It was this focus on what is truly good for users that kept Henri and Asta focused through the crypto euphoria of 2021 to the depths of despair in 2022 and to where we are today.

We can’t wait to see what team Privy continues to build — and why don’t you consider joining them.