Last Update 11:55 PM March 01, 2026 (UTC)

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Sunday, 01. March 2026

PIVX

Travails of Privacy in Africa and How PIVX Has Stepped In to Fill the Gap as It Turns 10

Introduction: Privacy Is Not a Luxury in Africa Across much of Africa, privacy is not an abstract philosophical debate; it is a daily survival concern. From restrictive financial systems and unstable currencies to excessive surveillance and limited access to global banking, millions of Africans face structural barriers that make financial privacy both rare and necessary. As digital financ
Introduction: Privacy Is Not a Luxury in Africa

Across much of Africa, privacy is not an abstract philosophical debate; it is a daily survival concern. From restrictive financial systems and unstable currencies to excessive surveillance and limited access to global banking, millions of Africans face structural barriers that make financial privacy both rare and necessary.

As digital finance expands across the continent, so do the risks: centralized control, data exploitation, transaction censorship, and financial exclusion. In this environment, the promise of cryptocurrency was never just about speculation; it was about freedom, dignity, and autonomy.

As PIVX marks 10 years of uninterrupted service, its privacy-first mission has become increasingly relevant to Africa’s financial reality.

The African Privacy Dilemma

Africa’s financial systems often operate under intense constraints:
 — Over-centralization of banking infrastructure
 — Capital controls and transaction monitoring
 — Frequent currency devaluations
 — Limited access to global payment rails
 — Weak data protection frameworks

In many countries, individuals and businesses must justify how, when, and why they move their own money. Journalists, activists, small traders, freelancers, and everyday citizens are often exposed simply for participating in the digital economy.

While mobile money has improved access, it has also introduced new vulnerabilities i.e full transaction visibility, account freezes, and dependency on centralized operators. Privacy, in this context, is not about hiding wrongdoing; it is about protecting legitimate economic activity from unnecessary exposure.

Why Financial Privacy Matters on the Continent

Financial privacy enables:
 — Economic self-determination for individuals
 — Protection from arbitrary restrictions
 — Safer cross-border trade and remittances
 — Freedom to save, spend, and transact without profiling

Without privacy, financial inclusion becomes conditional. Access can be revoked, limited, or monitored often without transparency or recourse.

This is where many early cryptocurrencies fell short. Public blockchains made transactions traceable by default, unintentionally recreating surveillance systems in a new form.

The Limits of Transparent Blockchains

Transparency is often celebrated as a feature of blockchain technology. But in practice, radical transparency without user choice creates risk, especially in vulnerable regions.

On fully transparent chains:
 — Wallet histories are permanently exposed
 — Users can be tracked, profiled, and targeted
 — Financial behavior becomes public data

For African users operating in volatile economic or political environments, this level of exposure can be dangerous.

What was needed was not opacity, but selective privacy, the ability for users to choose when and how their financial data is revealed.

PIVX: A Decade of Privacy by Design

Founded in 2016, PIVX (Private Instant Verified Transaction) was built with a clear philosophy: privacy should be accessible, optional, and user-controlled.

Rather than bolting privacy on as an afterthought, PIVX integrated it at the protocol level through Shielded Transactions, allowing users to protect transaction amounts and participant details when needed.

Ten years later, PIVX stands as one of the longest-running privacy-focused blockchains, fully operational, community-governed, and continuously evolving.

How PIVX Fills Africa’s Privacy Gap Optional Privacy, Not Forced Obscurity
PIVX allows users to choose between transparent and shielded transactions depending on their needs.

2. Decentralized Governance That Empowers Communities
Through its on-chain DAO and masternode governance, PIVX enables global participation, including African contributors.

3. Low Barriers to Entry
PIVX is energy-efficient, cost-effective, and accessible without specialized hardware.

4. Borderless and Permissionless
No bank approval. No intermediaries. No arbitrary restrictions. Real-World Relevance, Not Hype

PIVX’s strength lies not in trends, but in consistency. While many projects collapsed or pivoted narratives, PIVX continued building improving privacy tech, refining governance, and supporting community education.

This approach aligns with Africa’s need for resilient, long-term solutions.

A Decade Mark, A Forward Vision

Turning 10 is not just a milestone for PIVX; it is a validation of its core belief which is, “privacy is a right, not a privilege.”

As Africa continues its digital transformation, PIVX remains well-positioned to support privacy-respecting financial innovation.

Conclusion: Privacy That Serves People

The travails of privacy in Africa are real and persistent, but solutions exist.

PIVX’s decade-long commitment to optional privacy, decentralized governance, and resilience offers a compelling alternative to surveillance-heavy financial systems.

As it enters its second decade, PIVX is not just celebrating longevity, it is reaffirming its relevance.

In a continent where financial freedom is still contested, privacy is power and PIVX continues to stand for it.

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

Travails of Privacy in Africa and How PIVX Has Stepped In to Fill the Gap as It Turns 10 was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Saturday, 28. February 2026

bankless

The Stablecoin Interest Crackdown

Digital dollars, bank deposits, and the fight over who gets the risk-free rate
Digital dollars, bank deposits, and the fight over who gets the risk-free rate

Friday, 27. February 2026

bankless

Starkzap Brings Crypto Powers to Any App

StarkWare's new Starkzap SDK can shrink crypto feature integrations from months to minutes.
StarkWare's new Starkzap SDK can shrink crypto feature integrations from months to minutes.

Small Models Could Crack the Private AI Problem

Fully homomorphic encryption is years away from frontier scale. But the bar for "good enough" just got lower.
Fully homomorphic encryption is years away from frontier scale. But the bar for "good enough" just got lower.

Jack Dorsey's Block Slashes 40% of Workforce, Credits AI Efficiency

XYZ rallied as much as 20% overnight in anticipation of Block's agentic-powered productivity future.
XYZ rallied as much as 20% overnight in anticipation of Block's agentic-powered productivity future.

Epicenter Podcast

Agentic AI Takes Crypto to the Next Level?

In this episode, host Friederike Ernst is joined by John Paller, founder of ETH Denver, to reflect on nine seasons of North America's largest Ethereum gathering and where the ecosystem goes next. John shares his "red pill" moment in 2016 and the subsequent realization that Ethereum was not just a corporate efficiency tool, but a way to rewire the global economic system. He discusses the evolution

In this episode, host Friederike Ernst is joined by John Paller, founder of ETH Denver, to reflect on nine seasons of North America's largest Ethereum gathering and where the ecosystem goes next. John shares his "red pill" moment in 2016 and the subsequent realization that Ethereum was not just a corporate efficiency tool, but a way to rewire the global economic system. He discusses the evolution of the Biddle meme and how ETH Denver has become a market-driven aggregator for crypto's shifting narratives, from DeFi summer to the current era of institutional adoption.


They delve into a candid critique of the Ethereum Foundation’s "Infinite Garden" philosophy, with John arguing for more "structural vision" and actionable roadmaps to compete with the aggressive narratives of chains like Solana. The conversation highlights Agentic AI as the ultimate "Trojan Horse" for mass adoption, enabling a future where users interact with sovereign bots rather than complex private keys. Finally, John explains his Regulation Membership proposal to the US Congress, aiming to provide a federal securities exemption for on-chain cooperatives and restore true economic agency to the "little man."


Topics

00:00 Intro & Context 04:15 Recruitment Tech to Ethereum: John’s Genesis Story 09:30 Inventing the "Biddle" Meme at Denver 2018 15:00 Is Ethereum a "Neo Casino" or a Settlement Layer? 21:45 Critiquing Idealism: The Infinite Garden vs. Reality 27:10 Why Solana is Not "Sufficiently Decentralized 35:20 Agentic AI: The End of signing Transactions manually 42:15 The Roman Catholic Church & Institutional Co-opting 49:00 German Cooperative Culture & On-Chain Credit Unions 55:30 Regulation Membership & The SEC Challenge 59:45 Zero Knowledge Identity & Privacy Rights


Links

John Paller on X: https://x.com/PallerJohn ETH Denver: https://www.ethdenver.com/ Opolis: https://opolis.co/ Lido: https://lido.fi/stvaults?mtm_campaign=epicenter NEAR: https://near.ai/

Sponsors:


1. Lido V3 introduces stVaults: modular staking infrastructure that lets builders and institutions deploy custom staking vaults, while staying anchored to stETH as a shared liquidity layer. Get started building with Lido V3 today: https://lido.fi/stvaults?mtm_campaign=epicenter


2. NEAR AI Cloud now lets developers deploy OpenClaw—the rapidly growing open-source AI agent platform—inside Trusted Execution Environments, providing hardware-level encryption with cryptographic attestations. With OpenClaw on NEAR AI Cloud, you can run agents with cloud convenience, but without traditional cloud data exposure. No hardware to manage. No trust assumptions required. Learn more at near.ai.


bankless

PayPal, MoonPay, and M0 Align on Unified 'PYUSDx' Stablecoin Issuance Framework

The trio hopes to revolutionize the way developers launch their own stablecoins with PYUSDx.
The trio hopes to revolutionize the way developers launch their own stablecoins with PYUSDx.

Defiant

Did L2 Fragment Ethereum? - With Yuval Rooz, CEO of Digital Asset, Co-Founder of Canton

Layer 2 was supposed to scale Ethereum. But what if it fragmented it instead?
Layer 2 was supposed to scale Ethereum. But what if it fragmented it instead?

bankless

Morgan Stanley Applies for Digital Asset Banking Charter

A Morgan Stanley subsidiary applied earlier this month to the OCC for a national trust banking charter.
A Morgan Stanley subsidiary applied earlier this month to the OCC for a national trust banking charter.

Defiant

Crypto Worth $580 Million Seized from Chinese Transnational Criminal Networks

The U.S. Department of Justice has announced a significant cryptocurrency seizure linked to Chinese transnational criminal networks, part of a broader initiative to combat global scams.
The U.S. Department of Justice has announced a significant cryptocurrency seizure linked to Chinese transnational criminal networks, part of a broader initiative to combat global scams.

bankless

ZKsync Lite Scheduled for Full Deprecation on May 4

Users should withdraw all funds from ZKsync Lite ahead of the deadline as the ecosystem moves to consolidate around Era.
Users should withdraw all funds from ZKsync Lite ahead of the deadline as the ecosystem moves to consolidate around Era.

Defiant

Barclays Evaluates Blockchain-based Settlement

Barclays is exploring a new platform integrating stablecoins and tokenized deposits.
Barclays is exploring a new platform integrating stablecoins and tokenized deposits.

BlueYard Capital

What happens when 400 autonomous cars can do the work of 10,000 human drivers?

And more ideas from our latest Risk Club series dinner in Berlin Two weeks after our Munich dinner during the Security Conference, the BlueYard team gathered again in Berlin with a group of founders, investors, and operators to talk about the state of our global civilization and how to go risk on during one of the most volatile times in recent history. Here are a few key themes from our clos

And more ideas from our latest Risk Club series dinner in Berlin

Two weeks after our Munich dinner during the Security Conference, the BlueYard team gathered again in Berlin with a group of founders, investors, and operators to talk about the state of our global civilization and how to go risk on during one of the most volatile times in recent history. Here are a few key themes from our closed-door conversation, hosted in partnership with Max Claussen at System.One VC:

AI is displacing jobs faster than any previous wave of automation

Today, a fleet of 400 Waymo autonomous vehicles can serve the same market as roughly 10,000 human rideshare drivers. These cars run 24 hours a day with no breaks to speak of. In China “dark factories” like Xiaomi run around the clock, producing a smartphone every three seconds with the lights off because robots don’t need to see.

Every previous wave of automation — mechanization, electrification, computing — took decades to fully deploy. These decades provided a necessary buffer for humanity, giving workers time to retrain, institutions time to adapt, and policy time to catch up. That’s not happening here.

The scramble to adapt is underway

The gig economy is growing as a buffer between employment and unemployment, and human-in-the-loop work for AI training is emerging as an entirely new labor category. But the gig economy is itself automatable (as the Waymo numbers make plain) and AI training work may shrink as the models improve. So even these adjustments are temporary. Some at the table raised whether displaced white-collar workers could retrain into trades and how long that window stays open before physical AI closes it too.

The economies absorbing these shocks are already vulnerable

In the US, strip out AI and data center investment and GDP growth is barely visible. Stock market performance is concentrated in a handful of companies. And rule of law is eroding, with institutional trust on a precipitous decline. Meanwhile, in Europe, regulatory complexity continues to hamper innovation and markets remain fragmented compared to the US.

Globally, 18-to-25-year-olds are voting for extremes on both the left and the right, signaling a generation that sees the current system as unable to deliver on promises past.

Policy proposals from the table

At each of our dinners, we like to ask people to imagine policy proposals for this new world. In Berlin, we talked about mandatory equity-backed pension plans, starting from birth, at €50 to €100 per month — the logic being that if AI shifts GDP growth from labor to capital, citizens need to own capital from day one.

Others suggested structural reforms to governance itself: smaller parliaments, defined term limits, fewer career politicians. Still others called out the need to streamline permitting for solar, batteries, and physical infrastructure (if resilience is the goal then bottlenecks in deployment become strategic liabilities).

Where we see opportunity

From the conversations at this dinner and across our broader work, we see the most compelling opportunities in four areas: European defense and resilience infrastructure, where a €650B rearmament wave is creating a new generation of companies. The European startup ecosystem, which continues to outpace the continent’s corporates in responding to these shifts. Ukrainian reconstruction (which several at the table compared to Poland’s post-1989 transformation). And European energy sovereignty, where accelerating solar and battery deployment is both a security imperative and a commercial opportunity.

We’re looking for the next generation of founders making civilizational bets. If that’s you — or if you’re an investor, policymaker, or operator thinking about these questions — we’d love to talk.


Defiant

MoonPay and M0 Launch PYUSDx Stablecoin Development Framework

MoonPay and M0 have introduced PYUSDx, a platform aimed at simplifying the creation and management of application-specific stablecoins backed by Paypal's PYUSD.
MoonPay and M0 have introduced PYUSDx, a platform aimed at simplifying the creation and management of application-specific stablecoins backed by Paypal's PYUSD.

Zcash Foundation

Zcash Foundation Q4 2025 Report

The Zcash Foundation is committed to transparency and openness with the Zcash community and our other stakeholders. Today, we are releasing our Q4 2025 report, which provides an overview of the work undertaken by our engineering team, as well as an overview of other activities during this period. As with our previous quarterly reports, this […] The post Zcash Foundation Q4 2025 Report appeared f

The Zcash Foundation is committed to transparency and openness with the Zcash community and our other stakeholders. Today, we are releasing our Q4 2025 report, which provides an overview of the work undertaken by our engineering team, as well as an overview of other activities during this period.

As with our previous quarterly reports, this report describes our financial inflow and outflows, with a detailed breakdown of our expenses, and we have included a snapshot of the Foundation’s financial position, in terms of liquid assets and liabilities that must be met using those assets.

Download the Q4 2025 report here.

Our previous quarterly reports can be found here.

The post Zcash Foundation Q4 2025 Report appeared first on Zcash Foundation.


PIVX

PIVX Weekly Pulse (Feb. 20th, 2026 — Feb. 26th, 2026)

Catch up on everything PIVX with our latest Weekly Pulse: price swings, masternode update, community news, and everything in between. Market Pulse Masternode Count: A true test of a network is how it holds during turbulence. This week, the PIVX masternode count saw a slight dip of ten nodes, settling at 2,064 from last week’s 2,074. Despite this minor slip, our dedicated holders continue t

Catch up on everything PIVX with our latest Weekly Pulse: price swings, masternode update, community news, and everything in between.

Market Pulse Masternode Count: A true test of a network is how it holds during turbulence. This week, the PIVX masternode count saw a slight dip of ten nodes, settling at 2,064 from last week’s 2,074. Despite this minor slip, our dedicated holders continue to anchor the ecosystem, proving that the PIVX foundation is built on long-term conviction rather than short-term hype. Price Check: PIVX slipped lower to find support between $0.08 and $0.09. This move brought the weekly average to $0.0863, an 8.48% decrease from last week’s $0.0943. Meanwhile, sentiments are negative in the broader crypto market as traders grapple with intense fear. Trading Buzz: Along with the daily price adjustments, trading volume also dropped this week. The total weekly volume reached $14.4 million, representing a 4% drop from the previous week’s $15 million. As the market cools, the shift away from high-octane trading suggests that traders are currently adopting a “wait-and-see” approach.

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

PIVX Weekly Pulse (Feb. 20th, 2026 — Feb. 26th, 2026) was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

a16z's New Media Playbook

Erik Torenberg, Ben Horowitz, and Marc Andreessen discuss how the media landscape has fundamentally changed and what a16z is doing about it. They cover why offense beats defense, why individuals now matter more than corporate brands, why speed wins in the new media landscape, and the difference between oral and written culture on the internet.   Resources: Follow Erik Torenberg on X: ht

Erik Torenberg, Ben Horowitz, and Marc Andreessen discuss how the media landscape has fundamentally changed and what a16z is doing about it. They cover why offense beats defense, why individuals now matter more than corporate brands, why speed wins in the new media landscape, and the difference between oral and written culture on the internet.

 

Resources:

Follow Erik Torenberg on X: https://twitter.com/eriktorenberg

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

Follow Marc Andreessen on X: https://twitter.com/bhorowitz

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.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.


Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Thursday, 26. February 2026

bankless

How NFT "Mechs" Are Supercharging RAILGUN's Privacy

RAILGUN's integration with Gnosis Guild's Mech standard will unlock non-atomic private DeFi.
RAILGUN's integration with Gnosis Guild's Mech standard will unlock non-atomic private DeFi.

Defiant

Decibel Perpetuals Exchange Launches on Aptos

The perp DEX is incubated by Aptos Labs and plans to leverage the blockchain’s high speed to deliver a highly responsive trading experience.
The perp DEX is incubated by Aptos Labs and plans to leverage the blockchain’s high speed to deliver a highly responsive trading experience.

bankless

Magic Eden to Close Bitcoin and EVM Deployments, Cease Multi-Chain Wallet: Blockspace

The NFT marketplace is withdrawing to its Solana and "crypto entertainment" roots.
The NFT marketplace is withdrawing to its Solana and "crypto entertainment" roots.

Building the Agent Economy on Ethereum

AI agents won’t scale without crypto rails. Here are the advances to watch.
AI agents won’t scale without crypto rails. Here are the advances to watch.

Defiant

Ethereum Foundation Outlines ‘Strawmap’ Through 2029

The long-term plan proposes a series of upgrades aimed at faster transactions, higher capacity, and new privacy features.
The long-term plan proposes a series of upgrades aimed at faster transactions, higher capacity, and new privacy features.

bankless

Cosmos's Interchain Foundation Updates ATOM Delegation Program

The OG ecosystem steward believes its ATOM delegation changes will better align incentives to grow Cosmos Hub.
The OG ecosystem steward believes its ATOM delegation changes will better align incentives to grow Cosmos Hub.

Defiant

Korean CEX Listings Continue to Boost Altcoins

Centrifuge and Espresso experienced explosive moves after being listed on major Korean exchanges this week.
Centrifuge and Espresso experienced explosive moves after being listed on major Korean exchanges this week.

Circle Stock Jumps 40% on Q4 Earnings

The stablecoin company had a strong 2025 and is exploring a token launch for Arc, its new Layer 1 blockchain.
The stablecoin company had a strong 2025 and is exploring a token launch for Arc, its new Layer 1 blockchain.

PIPPIN Jumps 23% as AI and Meme Tokens Gain Momentum

The Solana-based AI memecoin is up 170% over the past month.
The Solana-based AI memecoin is up 170% over the past month.

Bitcoin Hovers Near $67K as Crypto Markets Consolidate

Leading altcoins retraced some of their gains from Wednesday.
Leading altcoins retraced some of their gains from Wednesday.

bankless

MetaMask Brings Crypto Card to America with Mastercard Partnership

The U.S. rollout follows a successful year-long European pilot that was unveiled at ETHDenver 2025.
The U.S. rollout follows a successful year-long European pilot that was unveiled at ETHDenver 2025.

Defiant

Ransomware Payments Topped $800 Million in 2025: Chainalysis

Although hackers made less money overall last year, victims who paid faced far higher bills than a year earlier.
Although hackers made less money overall last year, victims who paid faced far higher bills than a year earlier.

bankless

OCC Seeks to Eliminate All Stablecoin Yield with Proposed Prohibition

The OCC is allying itself with the banking lobby, attempting to eliminate the ability for stablecoins to pay any type of interest.
The OCC is allying itself with the banking lobby, attempting to eliminate the ability for stablecoins to pay any type of interest.

Defiant

ZachXBT Accuses Axiom Staff of Insider Trading Using Wallet Data

Recordings and screenshots reviewed by the blockchain investigator show internal tools that surfaced users’ private wallets and trade histories.
Recordings and screenshots reviewed by the blockchain investigator show internal tools that surfaced users’ private wallets and trade histories.

Circle Reveals Plans for Native Arc Token

Circle is advancing its Arc blockchain project, with plans for a native token, according to CEO Jeremy Allaire.
Circle is advancing its Arc blockchain project, with plans for a native token, according to CEO Jeremy Allaire.

Resolv and Centrifuge Launch $100 Million Tokenized Credit Strategy on Aave

The move shows how traditional credit is starting to play a bigger role in DeFi.
The move shows how traditional credit is starting to play a bigger role in DeFi.

Starknet Launches strkBTC to Advance Bitcoin Privacy in DeFi

Starknet has introduced strkBTC, a Bitcoin wrapper that integrates enhanced privacy features for DeFi without sacrificing performance. This development promises to enable private Bitcoin transactions while maintaining composability.
Starknet has introduced strkBTC, a Bitcoin wrapper that integrates enhanced privacy features for DeFi without sacrificing performance. This development promises to enable private Bitcoin transactions while maintaining composability.

PIVX

I have a Great Idea for PIVX, What Next?

If there is one thing being in the crypto space for over a decade has taught me, it is that everybody has a revolutionary idea; ideas on how to scale, allocate treasury funds, and everything in between. Now, if you’ve ever tried to sell an idea in the crypto space, you’d agree that it often feels like you’re standing in front of a massive locked gate. Most projects are either too centralized

If there is one thing being in the crypto space for over a decade has taught me, it is that everybody has a revolutionary idea; ideas on how to scale, allocate treasury funds, and everything in between.

Now, if you’ve ever tried to sell an idea in the crypto space, you’d agree that it often feels like you’re standing in front of a massive locked gate. Most projects are either too centralized (where you need to know the “right people”) or too chaotic (where ideas get lost in the noise).

In this article, I’ll walk you through how to sell your idea and get funding from the PIVX DAO.

How PIVX Works

As a decentralized autonomous organization (DAO), PIVX functions as a pure meritocracy. It doesn’t care who you are; it cares what you can do.

Before pitching, you must understand the “Proof of Community” ethos. PIVX isn’t just a privacy coin; it’s a self-funding, self-governing ecosystem.

Every month, the network generates roughly 432,000 PIV specifically for development and community projects. These funds don’t come from a CEO; they are minted by the protocol for those who add value.

The “judges” of the network are masternode owners. They vote on proposals to ensure only the highest quality ideas get funded. If the community likes your idea and votes “Yes,” the protocol automatically sends you the funds.

First Proving Yourself

As already mentioned, PIVX operates on a meritocracy. In many DAOs, people submit a massive proposal for $50,000 before they’ve even introduced themselves. In PIVX, that is a quick way to get a “No” vote.

The community values proof of contribution. Before asking for funding, find out if your idea is a perfect fit for the community and how you can actively contribute. Here’s my three-step checklist.

Start Small: Help out in GitHub, Discord, and X. Answer questions for new users or fix a small bug. The “Pre-Proposal”: Before officially submitting anything to the blockchain (which costs a 50 PIV fee), post your idea in the governance channel or the PIVX forum. Gather Feedback: Listen to the OGs and masternode owners. Refine your idea based on what the network actually needs.

Because PIVX values privacy, you can remain anonymous, but your reputation (linked to your username or handle) is your most valuable currency. Prove you can deliver small results, and the community will trust you with larger ones.

The PIVX Ambassador Program

If your “great idea” is about spreading the word, branding, or community building, the Ambassador Program is your home. This is the structured path for growth within the DAO.

The program is broken down into levels based on your level of engagement:

Advocate: The entry point. You’re active, sharing content, and learning the ropes. Ambassador: You are leading initiatives, hosting webinars, organizing local meetups, or creating high-level tutorials. Lead Ambassador: A recognized pillar of the community who coordinates larger teams. Mentor: The OGs who guide new contributors through the onboarding process.

The program isn’t just about “shilling”; it’s about professionalism. You are rewarded for impact reports, real data showing how your efforts increased PIVX awareness or participation.

Submitting Your Proposal

Once you have refined your idea and built a bit of a reputation, it’s time to go on-chain. You need to draft a document including your goals, timeline, and a breakdown of the PIV you are requesting.

It costs 50 PIV to submit a proposal. This fee is burned (destroyed), acting as a spam filter to ensure only serious people apply. Once submitted, masternode owners technically have 30 days to vote. You need a net “Yes” count of at least 10% of the masternode network to pass.

If you truly have a great idea, the gate is wide open. Your next step isn’t to write a 20-page document in private. It’s to join the PIVX Discord, jump into the governance chat, and say: “I have an idea, and I’d like some feedback.”

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

I have a Great Idea for PIVX, What Next? was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

When Giants Don’t Go Public: Inside the $5 Trillion Private Tech Market

Bloomberg's Odd Lots hosts Joe Weisenthal and Tracy Alloway speak with David George, general partner at a16z and head of the firm's growth fund, about why $5 trillion in tech market cap now sits in the private markets, how that figure has grown 10x in a decade, and what it means for founders, employees, and investors. They also cover SPVs, tender offers, the collapse of legacy software valuations,

Bloomberg's Odd Lots hosts Joe Weisenthal and Tracy Alloway speak with David George, general partner at a16z and head of the firm's growth fund, about why $5 trillion in tech market cap now sits in the private markets, how that figure has grown 10x in a decade, and what it means for founders, employees, and investors. They also cover SPVs, tender offers, the collapse of legacy software valuations, and why AI companies may be speed-running the path to public markets. This episode originally aired on Bloomberg's Odd Lots podcast.

 

Resources:

Follow Joe Weisenthal: https://twitter.com/TheStalwart

Follow Tracy Alloway: https://twitter.com/tracyalloway

Follow David George: https://twitter.com/DavidGeorge83

Listen to Odd Lots: https://www.bloomberg.com/oddlots

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.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.


Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


Brave Browser

Brave Search API now features Place Search, a new endpoint for map applications

The Brave Search API now offers Place Search—a fast, granular endpoint for discovering businesses, landmarks, and more across over 200 million points of interest.

Today, we’re announcing the release of Place Search via the Brave Search API, a new endpoint for granular map searches from our index of over 200 million points of interest. Place Search is available as part of the recently revamped Search plan of the Brave Search API and allows end users to find places (businesses, landmarks, parks, etc) in a geographic area by providing a center point, radius, and optionally a query.

For instance, end users of an app powered by the Place Search endpoint can now search for “restaurants in San Francisco within 5km.” Place Search gives API customers access to the same technology that powers “Search area” in the full map view of Brave Search.

Key advantages include:

Granularity: The location where a user searches can be very granular, such as points of interest within a 500 yard radius from a certain latitude/longitude. Place Search can also search a radius of up to 13 miles (20 kilometers) from a given point. Relevance: With Place Search, users always get location results. In contrast, with a regular search, users get the “locations” key only if Brave Search considers that a common intent for the query is getting points of interest. Speed: Place Search is extremely fast (on average twice as fast as a regular search that returns locations), so API customers and their end users will experience less latency. New Explore Mode: Place Search allows users to put an empty query, called “Explore Mode,” which provides popular or interesting points of interest in the area. This is a new feature for the Brave Search API, making it more user friendly.

Place Search is enabled for all API customers who have subscribed to the Search plan, and is perfect for:

Location-Based Apps: Help users discover nearby places Travel & Tourism: Find attractions, restaurants, and hotels in any destination Business Directories: Create local business listings and discovery features Mapping Apps: Populate maps with relevant points of interest Geofenced Recommendations: Suggest places based on user location

Get started today with Place Search by checking out our developer documentation and add geographic intelligence to your apps now.

If you’re not yet a Brave Search API customer, the API is available now with low-cost pay-as-you-go subscriptions and a monthly credit system that makes the API free for small-scale projects, trials, or proofs of concept.

→ Sign up and make your first API call today
→ Contact us to learn more about bespoke plans

Wednesday, 25. February 2026

Defiant

Aave Delegate Slams Aave Labs’ Track Record as Governance Dispute Continues

Aave-Chan Initiative’s Marc Zeller took to the governance forum to criticize Aave Labs in light of its latest funding request.
Aave-Chan Initiative’s Marc Zeller took to the governance forum to criticize Aave Labs in light of its latest funding request.

bankless

Ethereum Foundation Unveils New 'Strawmap' Roadmap for Ethereum Development

The refreshed Ethereum roadmap includes a development timeline and calls for features including shielded ETH transfers and 10k TPS.
The refreshed Ethereum roadmap includes a development timeline and calls for features including shielded ETH transfers and 10k TPS.

Crypto Surges After Brutal Start to 2026

Many tokens are on track for their best day of the year as immediate selling fears subside.
Many tokens are on track for their best day of the year as immediate selling fears subside.

Defiant

Tether Invests $200 Million in Whop to Expand Stablecoin Payments

The investment will bring Tether’s wallet tools to millions of users.
The investment will bring Tether’s wallet tools to millions of users.

Polkadot Jumps Ahead of Halving Event

DOT rises as investors look toward a coming supply cut, though analysts say the move may be driven by market sentiment.
DOT rises as investors look toward a coming supply cut, though analysts say the move may be driven by market sentiment.

bankless

Aave Community Dealing with Governance Chaos Ahead of Record-Breaking $50M Vote

Aave Chan Initiative is going on the offensive to defeat the Labs-backed "Aave Will Win" proposal.
Aave Chan Initiative is going on the offensive to defeat the Labs-backed "Aave Will Win" proposal.

Kalshi Details Insider Trading Investigations Against Political Candidate, MrBeast Editor

The CFTC-regulated prediction platform is shining a light on two insider trading cases it recently resolved.
The CFTC-regulated prediction platform is shining a light on two insider trading cases it recently resolved.

Defiant

Crypto Markets Catch Some Relief as BTC Climbs Back Over $68K

A broad-based rally lifted cryptocurrencies this morning, with BTC and ETH pushing back above key psychological levels, helped by strong spot Bitcoin ETF inflows.
A broad-based rally lifted cryptocurrencies this morning, with BTC and ETH pushing back above key psychological levels, helped by strong spot Bitcoin ETF inflows.

BlueYard Capital

The Utopia vs. Oblivion Summit

The world feels full of potential, yet completely off its axis. The band of possible outcomes has widened, and the margin for error is deadly sharp. On March 24–25, in Los Angeles, we are bringing together founders, builders, experts, investors and LPs for 2 days of workshops, debates and open conversations — all pointed towards the question of how we can move humanity toward utopia, while h

The world feels full of potential, yet completely off its axis. The band of possible outcomes has widened, and the margin for error is deadly sharp.

On March 24–25, in Los Angeles, we are bringing together founders, builders, experts, investors and LPs for 2 days of workshops, debates and open conversations — all pointed towards the question of how we can move humanity toward utopia, while holding the line against oblivion.

Expect to mingle with peers and founders of more advanced mult- $bn companies, and previous attendants of BlueYard summits have included some of the world’s leading politicians, historians and scientists — so expect an immersive experience that will expand your horizon.

Interested in joining us?

We’ve reserved the last few spots for seed-stage founders/builders outside of our immediate network –those working on some of the most consequential technologies to see humanity through this great filter moment. We will cover flight and lodging costs for a select few to attend.

Apply here: https://blueyard.typeform.com/to/VjyWz9ut

AGENDA Tuesday, March 24

8:15am: Basecamp, Coffee & Breakfast
Rapid-fire group scene setter questions & discussions

9:15am: Building Hard Things in Volatile Times
Observations and tactics from the best. A conversation with Mitchell Hashimoto (co-founder HashiCorp) and Brad Burnham (co-founder USV)

10:15am: Hike & Guided Discussions at Topanga State Park
Founder knowledge exchange, war stories and networking while hiking the Topanga State Park

5:30pm: Happy Hour and Dinner

Wednesday, March 25

9:00am: Founder debrief morning
Breakfast, coffee and working space available

10:30am: Anarchy or Transition to a New System?
AI, geopolitics and an outlook for humanity. Keynote & Q&A

11:00am: Round Table Sessions

Compute: Solving real compute scaling bottlenecks or feeding the AI CapEx bubble? Where are we in the cycle? Crypto: From decentralized cypherpunk to a fintech backend. What’s crypto’s future? Defense, Energy, and Resilience: Big budgets, but will it be great business? Playing the startups and venture game in a legacy industry Bio & Chemistry: A tale of two markets: AI powered discovery vs wet-lab progress. What’s real and what is not? Applied & Physical AI: Re-vamping legacy industries for the future. RoI or experimentation?

12:00pm: Risk Club Sessions (Best of Edition) Bull and bear cases for humanity, long & short trades you would make, preparing for a world where people can live together, and Cold War II

12:45pm: Lunch

2:00pm: Group Activity Prepare for a madmax world — at the intersection of robots and human ingenuity.

5:30pm: Happy Hour and Dinner

BlueYard is committed to keep our events safe and open to all. View our code of conduct here.


Defiant

B2B Stablecoin Payments Grew Over 730% YoY in 2025

From windmills to auto parts, small to medium-sized are leading the way with stablecoin adoption, per a new report from Stablecon and Artemis.
From windmills to auto parts, small to medium-sized are leading the way with stablecoin adoption, per a new report from Stablecon and Artemis.

bankless

An Ethereum Killer's Muted Kickoff

Opinion: Three months after Monad's much-hyped ICO, the vibes are feeling less euphoric.
Opinion: Three months after Monad's much-hyped ICO, the vibes are feeling less euphoric.

Defiant

ETH Slides 35% in a Month as ETF Flows Turn Negative

A new report from BestBroker highlights ETH ETF assets shrinking since the start of the year.
A new report from BestBroker highlights ETH ETF assets shrinking since the start of the year.

Tuesday, 24. February 2026

bankless

The NFT Invasion Nobody Noticed

Some of the most interesting NFT use cases today are from teams that aren't "NFT projects." Expect more of this.
Some of the most interesting NFT use cases today are from teams that aren't "NFT projects." Expect more of this.

The Ethereum L2 Squeeze

Amid declining metrics and a Vitalik vibe shift, Ethereum L2s and Alt-EVM L1s are being pushed to shape up or ship out.
Amid declining metrics and a Vitalik vibe shift, Ethereum L2s and Alt-EVM L1s are being pushed to shape up or ship out.

Defiant

Credit Card Stocks Fall After Citrini AI Report

Shares dropped after Citrini Research published a thought experiment, but the Kobeissi Letter argues the outlook may be too pessimistic.
Shares dropped after Citrini Research published a thought experiment, but the Kobeissi Letter argues the outlook may be too pessimistic.

Bitwise Expands Staking Capabilities with Chorus One Acquisition

Bitwise Investments has acquired institutional staking provider Chorus One, offering clients access to more than 30 proof-of-stake networks.
Bitwise Investments has acquired institutional staking provider Chorus One, offering clients access to more than 30 proof-of-stake networks.

Jane Street Accused of Intentionally Attacking Terra

Terraform Labs is suing quantitative trading firm Jane Street for its role in the collapse of the Terra ecosystem.
Terraform Labs is suing quantitative trading firm Jane Street for its role in the collapse of the Terra ecosystem.

Fluid Proposes Establishing a Foundation Funded by $3M Annual Grant From DAO

If approved, the governance proposal by Instadapp’s COO would establish a non-profit foundation to oversee the DeFi protocol’s code, frontend and trademarks.
If approved, the governance proposal by Instadapp’s COO would establish a non-profit foundation to oversee the DeFi protocol’s code, frontend and trademarks.

bankless

Zuckerberg's Meta Seeking Partners for Stablecoin Revival: CoinDesk

Meta is reportedly reviving its stablecoin ambitions and targeting a launch in the second half of 2026.
Meta is reportedly reviving its stablecoin ambitions and targeting a launch in the second half of 2026.

Defiant

21Shares Launches TSUI ETF on Nasdaq

21Shares has launched the TSUI ETF on Nasdaq, offering U.S. investors regulated exposure to Sui.
21Shares has launched the TSUI ETF on Nasdaq, offering U.S. investors regulated exposure to Sui.

Ethereum Foundation Pledges to Support Privacy-First, Permissionless DeFi

The EF has created a team to support DeFi builders, focusing on privacy, security, and open-source principles.
The EF has created a team to support DeFi builders, focusing on privacy, security, and open-source principles.

bankless

Kraken Exchange Launches 24/7 Perpetuals for U.S. Stocks

The move will pit Kraken directly against onchain leverage venues, like Hyperliquid, in the competition for equity degens.
The move will pit Kraken directly against onchain leverage venues, like Hyperliquid, in the competition for equity degens.

Defiant

Crypto Markets Struggle as BTC Slips Below $64K

BTC failed to hold key support levels, dragging the wider crypto market lower.
BTC failed to hold key support levels, dragging the wider crypto market lower.

Meta Explores Stablecoin Revival, Eyes Partnership with Stripe

Meta has issued a request for proposals (RFP) to third-party firms for stablecoin-based payments, potentially marking a comeback in the stablecoin market with Stripe as a possible partner.
Meta has issued a request for proposals (RFP) to third-party firms for stablecoin-based payments, potentially marking a comeback in the stablecoin market with Stripe as a possible partner.

bankless

The Ethereum Foundation Just Doubled Down on DeFi

The EF has formalized its DeFi strategy for the first time ever.
The EF has formalized its DeFi strategy for the first time ever.

Brave Browser

The Brave Search API shows exponential growth, emerging as the best search tool to power AI apps

The Brave Search API has seen exponential growth, emerging as the only independent, commercially available search API at scale—and the best option for powering AI apps.

Three years ago, Brave released the Brave Search API to provide developers with access to Brave’s independent search index of now 40 billion Web pages. Usage has grown exponentially since then, with thousands of new users signing up each day and billions of weekly API calls.

This increase in API calls coincides with huge growth in user adoption of AI in general—users who expect timely, accurate, in-depth answers. This makes Web search one of the most critical components of an app’s technical stack. An AI app’s access to the Web has to be fast, accurate, up-to-date, and reliable long-term.

Until recently, there were only three primary sources for this Web search: Brave, Google, and Bing. But 2025 saw significant change in this landscape: in August of last year, Microsoft shut down Bing’s public API; a few months later, Google took legal action against SerpApi, sending a clear signal that the days of free scraping are over. In short, Brave is one of just three Web search indexes at scale in the West, and it’s the only one commercially available in a reliable, independent Search API.

This leaves the Brave Search API as the only viable option for AI app makers. It also happens to be the best option:

Here for the long-term: Powered by its own, independent index of the Web, Big Tech lawsuits or attempted shutdowns will have no effect on our API’s availability or quality (something that can’t be said for scrapers)

Private & compliant: With no intermediate calls to other indexes, Brave can guarantee privacy controls for user queries, which can help app makers achieve legal compliance. It’s also the only search API that can offer true Zero Data Retention

Affordably priced: Transparent pricing plans as low as $5 CPM, including free request credits to get started

Built for AI: Endpoints like LLM context and news search are built specifically for AI use cases

Reliable & easy to use: 99.99% uptime for calls that return intuitively-structured JSON

The writing on the wall for scrapers

Companies relying on scraper-based APIs face several challenges. These solutions are inherently unstable and legally uncertain. When a scraper gets blocked or throttled, applications built on them can experience sudden disruptions. Additionally, scraper APIs typically share user data with third parties, creating compliance risks and privacy concerns that many organizations find unacceptable in today’s regulatory environment.

And these risks aren’t theoretical: In a landmark lawsuit, Google filed legal action against SerpApi for scraping its search results—violating terms, circumventing security, and undermining the rights of content creators.

While this particular lawsuit pertains to SerpApi, it’s really a signal to any company that scrapes data from Google and repackages that data for resale. It also matters for AI companies who rely on these scrapers to power their apps.

“If you’re building something without a full-scale, independent Web index, your entire business is at risk.”

With this lawsuit, Google has signaled that the data pipeline is at risk for anyone using second-hand search data—any company building an AI, chat, agentic, or search experience, or relying on real-time Web data. If you’re building something without a full-scale, independent Web index, your entire business is at risk. Companies can’t build on top of a foundation that can be dismantled.

Exponential 2025 growth

While the market for Big Tech indexes has contracted, and scrapers fight for Google’s scraps, the Brave Search API has been working quietly in the background, making the product better and earning exponential growth. In 2025, adoption rates surged across industries, with developers increasingly choosing Brave as their primary search data provider.

The Brave Search API now supplies most of the top-10 LLMs with real-time Web search data; for some of those LLMs Brave is the only search engine index supporting their AI answers. This growth reflects not just market conditions, but genuine confidence in the quality and reliability of our platform.

This growth extends beyond volume to the breadth of our partners. Just as we’re seeing increased adoption from enterprise clients who prioritize data sovereignty, privacy, and long-term stability in their infrastructure decisions, we’re also seeing growth in small startups and midsized businesses. For anyone building AI or search experiences, the Brave Search API has proven to be the solution.

Indexed Brave Search API growth relative to Q1 2024 levels (Q1 2024 = 100) 2025 - 2026 product improvements

Despite these competitive advantages, we haven’t rested on our laurels. We’ve continued to improve the product, release powerful APIs, and improve the developer experience through AI tooling integrations and improved documentation via our recently redesigned developer portal. Here are some of the notable changes over the last year:

LLM Context API

The most powerful search API for AI applications to date is optimized to provide LLMs with highly relevant Web context for any user query. The LLM Context API already powers Brave’s Ask Brave experience (the largest private user-facing AI app in the world at 22 million answers per day), helping it outperform end-user experiences like ChatGPT, Perplexity, and Google AI Mode in head-to-head comparisons.

This high-quality context data is now available to any AI app maker. By contrast with scrapers (which essentially repackage Google’s 10 blue links—results optimized for human readers), Brave’s new endpoint is optimized for machine consumption, and the LLMs that power AI.

Read more about the LLM Context API

Simplified plans and pricing

We’ve drastically streamlined our plans and pricing, with most endpoints available under a simplified framework of Search or Answers. The Search plan delivers the real-time search data that chatbots and agents need to generate answers, from endpoints like Web search, LLM context, news, images, and more. The Answers plan delivers summarized, completed answers to any user query, with answers grounded on a single search or multiple searches for better accuracy and reduced hallucinations. And of course, bespoke Enterprise plans are available for large-scale deployments.

Read more about new plans and pricing

Zero Data Retention

The only search API built with privacy at its core is also the only search API that can offer true Zero Data Retention. Whereas scrapers can only offer ZDR (if at all) on the fraction of queries where they’re not scraping from Google, Brave can provide enterprise customers with ZDR on every user query. With ZDR, companies can meet ever-growing compliance obligations and gain a competitive advantage.

Read more about ZDR in the Brave Search API

SOC 2 Type II attestation

In 2025, the Brave Search API underwent a thorough external audit, and in October we announced that the API had earned its first SOC 2 Type II attestation. SOC 2 will give Brave Search API customers the confidence that one of the primary data sources they rely on to conduct their business has been independently verified as operating according to an industry-standard benchmark for security.

Read more about our SOC 2 attestation

Visit the Brave Trust Center

AWS Marketplace

In July, we announced the availability of the Brave Search API in the new AI Agents and Tools category of AWS Marketplace. Customers can now use AWS Marketplace to easily discover, buy, and deploy AI agents solutions, including Brave’s Search API, using their AWS accounts, accelerating agent and agentic workflow development.

Read more about Brave on the AWS Marketplace

MCP servers

Our MCP server and implementation integrate the Brave Search API to provide comprehensive search capabilities including Web search, local business search, image search, video search, news search, and AI-powered summarization. The project supports both STDIO and HTTP transports, with STDIO as the default mode.

Visit the GitHub repo for Brave’s MCP server

AI Tooling

To improve the developer experience, we also released official skills for using the Brave Search API with AI coding agents. We also released a new API assistant that’s integrated into the developer portal.

Visit the GitHub repo for Brave Search API skills

Ready to build with resilient, affordable, high quality data?

The Brave Search API is the only legitimate option available today. We don’t scrape. We don’t rely on others. We have our own, independent, and continuously updated Web index—built with privacy and integrity at its core. Our API is designed for developers who need reliable, future-proof access to Web search data. No loopholes. No interdependence.

Unlike scraper-based APIs, the Brave Search API is powered by its own, independent index of the Web. Brave Search receives tens of millions of unique user queries each day, and it’s the default search engine for most new users of the Brave browser. These users can anonymously contribute data to the index via the Web Discovery Project; this contribution method coupled with daily crawls help ensure the Brave Search index of 40 billion pages is constantly updated with quality data (we add or refresh more than 100 million pages each day). That means real webpages visited by actual humans, and less of the SEO spam that plagues Google and Bing.

Combined, these index-building techniques make the Brave Search API uniquely positioned to power the AI and search markets. It has affordable, transparent pricing plans. Reliable, unique, well-structured data. And a unique blend of low latency and high capacity (up to 100 queries per second, depending on the plan).

If you’re not yet a Brave Search API customer, the API is available with low-CPM subscriptions, and a $5 US monthly credit system (good for up to 1,000 calls per month) that can power small-scale projects, and enable free testing and proofs of concept.

→ Sign up and make your first API call today
→ Contact us to learn more about bespoke plans

Monday, 23. February 2026

Defiant

Crypto Traders Attempt to Frontrun ZachXBT’s Upcoming Exposé

The onchain sleuth teased proof of insider trading within “one of crypto’s most profitable businesses.”
The onchain sleuth teased proof of insider trading within “one of crypto’s most profitable businesses.”

bankless

Ethereum Is Getting a Censorship Shield with EIP-7805

Ethereum's upcoming Hegotá upgrade will include FOCIL, a new mechanism that mitigates transaction censorship.
Ethereum's upcoming Hegotá upgrade will include FOCIL, a new mechanism that mitigates transaction censorship.

SEC Streamlines Issuance Process for Onchain Money Market Funds

New guidance will allow WidsomTree to issue onchain money market shares for $1 at any time.
New guidance will allow WidsomTree to issue onchain money market shares for $1 at any time.

OpenClaw Declares War on Crypto Content

The popular agent development platform is banning users from its Discord who mention crypto.
The popular agent development platform is banning users from its Discord who mention crypto.

Defiant

Crypto.com Secures Conditional Approval for National Trust Bank Charter

Crypto.com has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, taking a significant step toward becoming a federally regulated qualified custodian.
Crypto.com has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, taking a significant step toward becoming a federally regulated qualified custodian.

Zcash Foundation

NU7 Polling Results: What We Heard and Where We Go From Here

Thank you to everyone who participated in the NU7 sentiment polling — ZCAP members, coinholders, the Engineering Caucus, ZecHub, Zcash Brasil, Zcash Español, and Zcash Türkiye. The breadth of participation reflects how seriously this community takes protocol governance, and we don’t take that for granted. We want to be direct: the results reveal both meaningful […] The post NU7 Polling Results:

Thank you to everyone who participated in the NU7 sentiment polling — ZCAP members, coinholders, the Engineering Caucus, ZecHub, Zcash Brasil, Zcash Español, and Zcash Türkiye. The breadth of participation reflects how seriously this community takes protocol governance, and we don’t take that for granted.

We want to be direct: the results reveal both meaningful consensus and real disagreement. We think it’s important to name both clearly rather than gloss over the gaps. The following is our perspective on the path forward.

Thank you to Daira-Emma for drafting the full summary of all polling data.

Where There Is Clear Consensus

The following proposals received strong support across all polling groups, including both ZCAP and coinholders. These represent the clearest mandate from this process:

Project Tachyon — Universal or near-universal support across every group. This is the most unambiguous signal from the entire poll and should be prioritized accordingly.

Orchard Quantum Recoverability — Strong support from both ZCAP (90.5%) and coinholders (94.6%). There is no meaningful opposition to this feature anywhere in the community.

Explicit Fees — Consistent support across groups (83.2% ZCAP, 87.2% coinholders). This is well-understood, low-controversy, and broadly wanted.

NSM: Burning Transaction Fees — Both ZCAP (78%) and coinholders (80.1%) support the fee-burning component specifically. This is an important distinction from NSM as a whole (see below).

These four features represent the core of what NU7 can deliver with genuine community-wide support. We believe they should form the foundation of any NU7 scope.

A Note on the Community Group Polls

The Engineering Caucus, ZecHub, Zcash Brasil, Zcash Español, and Zcash Türkiye each conducted their own polls, with participation rates ranging from 57% to 92% within each of their respective groups. Across these polls, results were broadly aligned with ZCAP — strong support for Tachyon, Quantum Recoverability, Explicit Fees, and fee burning, with more mixed signals on ZSAs, NSM issuance smoothing, and STARK/TZEs. We are grateful to each of these groups (and aquietinvestor) for organizing their own processes and contributing to the overall picture.

We note that the smaller group polls — particularly Zcash Türkiye (7 participants) and Zcash Español (13 participants) — yield results that are directionally informative rather than statistically robust. They lend support to, rather than independently confirm, the broader ZCAP signal.

Where There Is Significant Disagreement

The following proposals show material divergence between ZCAP and coinholder results. The gap between these results is real, and we think it’s more useful to name it directly than to minimize it.

Zcash Shielded Assets (ZSAs) — ZCAP support was 70.4%, while coinholders voted 98.6% against. ZSAs represent years of community investment and development work and are considered a flagship feature by many in the ecosystem. That work is real and it matters. At the same time, coinholder opposition of this magnitude cannot be dismissed. Before any decision is made, we need to understand why coinholders oppose ZSAs so strongly — whether it’s economic concern, technical risk, complexity, or something else. We invite ZSA proponents and skeptics alike to engage in good faith conversations in the coming weeks.

Network Sustainability Mechanism (NSM) — Issuance Smoothing — ZCAP supported NSM at 84%, but coinholders opposed it at 83.5%. Combined with the strong coinholder support for fee burning specifically, this suggests coinholders may support the deflationary element of NSM while rejecting aspects of the mechanism that alter issuance. These components need to be disentangled and evaluated independently before moving forward.

Consensus Accounts — 77.9% ZCAP support, 97.3% coinholder opposition. The low ballot count (55) on the coinholder side warrants the same caveat as Memo Bundles, but the gap is too large to proceed without further deliberation.

Memo Bundles — Supported by 76.8% of ZCAP, but coinholders voted 99.3% against. We note that Memo Bundles had among the lowest coinholder ballot counts (62 ballots), so this result may reflect a more motivated or concentrated subset of voters rather than broad coinholder sentiment. This warrants scrutiny before being treated as definitive, and further deliberation is needed.

Sprout Deprecation (v4 Transactions) — 77.7% ZCAP support, 84.6% coinholder opposition. This is a legacy cleanup item that most developers consider overdue, and ZCAP’s support is clear. The coinholder opposition here is worth understanding — it may reflect concern about disrupting existing users rather than opposition to the technical goal itself. We intend to pursue this conversation further before making a recommendation.

STARK Proof Verification via TZEs — The weakest result in ZCAP (56.8% support, 38.4% oppose), with coinholders opposing at 83.6%. There is no path to including this in NU7 based on current sentiment. Further deliberation on the use case and design would be needed before revisiting.

An Honest Note on the Coinholder Poll

We want to acknowledge something directly: the coinholder poll had 7.25% participation of circulating ZEC, and ballot counts varied significantly across questions — from 210 ballots on Tachyon down to 55 on Consensus Accounts. This participation structure matters for interpretation. A near-unanimous result from 55 ballots is a different signal than a near-unanimous result from 210 ballots.

This does not invalidate the coinholder results. Coinholders have legitimate standing in this process, and the mechanism was auditable and transparent. But it does mean that extreme results on low-participation questions should be understood as the strong views of a subset of participating coinholders, not a definitive verdict from all ZEC holders. ZF is committed to working with relevant parties to improve coinholder participation infrastructure for future polls.

What Comes Next

For the proposals with clear consensus — Tachyon, Quantum Recoverability, Explicit Fees, and Fee Burning — we will work with the relevant parties to assess technical readiness and scope for inclusion in NU7.

For the contested proposals, further deliberation is needed before any recommendations can be made. ZSAs in particular require a dedicated community conversation to understand the basis of coinholder opposition. For NSM, we think the fee-burning and issuance-smoothing components should be evaluated on their own terms given how differently they polled.

On governance: the divergence between ZCAP and coinholder results in this poll is not a failure of the process — it’s the process doing its job by surfacing real disagreement. But it does raise a legitimate question about how to weigh different constituencies when they conflict significantly. This deserves its own deliberation, separate from the immediate NU7 decisions.

We know this isn’t the clean, unified result some were hoping for. But we believe a Zcash built on genuine consensus — even if narrower in scope — is better than one built over unresolved community conflict.

We’re committed to playing our role in getting this right. Thank you for staying engaged.

The post NU7 Polling Results: What We Heard and Where We Go From Here appeared first on Zcash Foundation.


Defiant

Kraken’s Sponsorship of ‘Trump Accounts’ Highlights Crypto’s Growing Political Footprint

The initiative showcases Kraken’s Wyoming roots and the increasing ties between crypto firms and policymakers.
The initiative showcases Kraken’s Wyoming roots and the increasing ties between crypto firms and policymakers.

Andre Cronje’s Flying Tulip Token Trades Near $1B FDV Floor

The FT token arrives after the project raised close to $300 million in funding.
The FT token arrives after the project raised close to $300 million in funding.

bankless

Lending Market 'Blend' Suffers $10M+ Exploit

The Stellar-native lending market was victimized by oracle manipulation over the weekend.
The Stellar-native lending market was victimized by oracle manipulation over the weekend.

Saylor's Strategy Notches Historic 100th BTC Buy

MSTR just detailed a $40M BTC purchase, with its total holdings now worth over $46 billion.
MSTR just detailed a $40M BTC purchase, with its total holdings now worth over $46 billion.

Defiant

Crypto Markets Dip Amid US-EU Dispute Over Tariffs

BTC dropped sharply late Sunday and failed to recover Monday as broad losses rip through crypto amid tariff-driven macro uncertainty.
BTC dropped sharply late Sunday and failed to recover Monday as broad losses rip through crypto amid tariff-driven macro uncertainty.

Trump's 'Board of Peace' Is Exploring a USD Stablecoin for Gaza: FT

The project is reportedly being led by Israeli tech entrepreneur Liran Tancman, who is working as an adviser to the recently established peacekeeping organization.
The project is reportedly being led by Israeli tech entrepreneur Liran Tancman, who is working as an adviser to the recently established peacekeeping organization.

PIVX

Thousands of Android Tablets Found Pre-Infected with Backdoor

You may want to double-check next time your phone appears to be reading your mind. Because cybersecurity researchers have uncovered a sophisticated new malware campaign targeting budget Android tablets. These devices were shipped to consumers with a malicious backdoor already embedded deep within the factory firmware. According to a report released by Kaspersky, a malware named “Keenadu” has alre

You may want to double-check next time your phone appears to be reading your mind. Because cybersecurity researchers have uncovered a sophisticated new malware campaign targeting budget Android tablets. These devices were shipped to consumers with a malicious backdoor already embedded deep within the factory firmware.

According to a report released by Kaspersky, a malware named “Keenadu” has already been detected on more than 13,700 devices worldwide. The infection is particularly prevalent in Russia, Japan, Germany, Brazil, and the Netherlands.

Unlike traditional malware that requires a user to download a malicious file or click a phishing link, Keenadu is a supply-chain threat. Researchers believe it was integrated into the devices during the firmware build stage, meaning the tablets were compromised before they ever left the factory.

A “Zygote” Infection

Keenadu is uniquely dangerous because of where it lives. It is embedded in a core system library that Android uses to boot and manage applications.

By infecting this “Zygote” process, the malware is automatically loaded into the memory of every single application the user opens. This gives the attackers virtually unrestricted control, allowing them to steal sensitive data, commit ad fraud, and manipulate shopping.

Specifically, attackers can access messages, location, and potentially biometric data, hijack browser search engines, monitor app installs, and stealthily click on ads to generate revenue for the attackers.

The developers of Keenadu appear to be operating with a specific geographical focus. The malware contains a “kill switch” designed to avoid detection in its likely home region: it checks the device’s language and time zone, immediately terminating its activity if it detects a Chinese dialect and a Chinese time zone. It also remains dormant on devices that do not have Google Play Services installed.

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

Thousands of Android Tablets Found Pre-Infected with Backdoor was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

Ben Horowitz: RSI, Crypto as AI Money, & Classified Physics

Moonshots host Peter Diamandis speaks with Ben Horowitz, cofounder and general partner at a16z, alongside regular cohosts Salim Ismail, Dave Blundin, and Dr. Alexander Wissner-Gross, about whether AI can or should be paused, what happened when Horowitz told a Biden administration official that regulating AI means regulating math, why crypto is the natural money for AI agents, and why the gap betwe

Moonshots host Peter Diamandis speaks with Ben Horowitz, cofounder and general partner at a16z, alongside regular cohosts Salim Ismail, Dave Blundin, and Dr. Alexander Wissner-Gross, about whether AI can or should be paused, what happened when Horowitz told a Biden administration official that regulating AI means regulating math, why crypto is the natural money for AI agents, and why the gap between AI capability and societal adoption may be wider than people think. This episode originally aired on Peter Diamandis's Moonshots podcast.

 

Follow Peter H. Diamandis on X: https://x.com/PeterDiamandis

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

Follow Salim Ismail on X: https://twitter.com/salimismail

Follow Dave Blundin on X: https://twitter.com/DavidBlundin

Follow Dr. Alexander Wissner-Gross on X: https://twitter.com/alexwg

Listen to Moonshots: https://www.youtube.com/@peterdiamandis

 

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.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.


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Sunday, 22. February 2026

Epicenter Podcast

Should All Your Financial Assets be on Blockchain?

In this episode, host Sebastian Couture is joined by Chris Yin, CEO of Plume Network, to deconstruct the current state of Real World Assets (RWAs) and why the sector is at a pivotal inflection point. Chris argues that most RWA projects today are functionally "worse on-chain" because they lack liquidity, composability, and the "crypto-native" user experience that made stablecoins successful.

In this episode, host Sebastian Couture is joined by Chris Yin, CEO of Plume Network, to deconstruct the current state of Real World Assets (RWAs) and why the sector is at a pivotal inflection point. Chris argues that most RWA projects today are functionally "worse on-chain" because they lack liquidity, composability, and the "crypto-native" user experience that made stablecoins successful.




He details how Plume is solving this through a custom L1 stack and the Nest vault protocol, which tokenizes high-yield assets like Brazilian credit card receivables and oil production for a global market.




They explore the friction between traditional finance and DeFi, highlighting why private credit's long duration makes it unsuitable for the "looping" and leverage that drives crypto demand. Chris explains the significance of Plume’s SEC Transfer Agent license and its role in bridging the gap between regulated funds and permissionless rails.



Finally, the conversation tackles the "bleak" vs. "optimistic" future of crypto, asking whether the industry will maintain its core principles of self-custody and decentralization as it searches for a "new daddy" in institutional capital.





Topics


00:00 Intro & Context 04:15 The Job of a Founder: Finding Change 09:30 Crypto Natives vs. TradFi Suites 15:00 Stablecoins: The Only RWA That Matters (Today) 21:45 The Bottleneck: It’s Not Tokenization, It’s Demand 27:10 Why Build an L1 for Assets? 35:20 SEC Transfer Agent License Explained 42:15 Nest Alpha: Blending Oil, Credit, and T-Bills 49:00 Is Leverage Sustainable for Institutions? 55:30 The Exodus: Will Crypto Values Survive?



Links

Chris Yin on X: https://x.com/chriseyin Plume Network: https://www.plumenetwork.com/ Nest: https://nest.plumenetwork.com/ NEAR: https://near.ai/


Sponsors:
NEAR AI Cloud now lets developers deploy OpenClaw—the rapidly growing open-source AI agent platform—inside Trusted Execution Environments, providing hardware-level encryption with cryptographic attestations. With OpenClaw on NEAR AI Cloud, you can run agents with cloud convenience, but without traditional cloud data exposure. No hardware to manage. No trust assumptions required. Learn more at near.ai.

Saturday, 21. February 2026

Defiant

Why DAO Governance Always Turns Political

"In a decentralized governance system, it's unavoidable to develop politics." Rune Christensen explains why DAO governance becomes a struggle for resources, how the "iron law of bureaucracy" emerges, and why Sky redesigned its architecture to survive it.
"In a decentralized governance system, it's unavoidable to develop politics." Rune Christensen explains why DAO governance becomes a struggle for resources, how the "iron law of bureaucracy" emerges, and why Sky redesigned its architecture to survive it.

bankless

A First-Principles Defense of Prediction Markets

Prediction markets are markets. Markets should be regulated at the federal level.
Prediction markets are markets. Markets should be regulated at the federal level.

Friday, 20. February 2026

bankless

Done Deal: Nakamoto Closes $107M All-Stock Takeover of CEO David Bailey's BTC Inc. & UTXO

The merger, announced on Tuesday, was expected to close sometime this quarter.
The merger, announced on Tuesday, was expected to close sometime this quarter.

Defiant

Base AI Tokens Outperform Altcoin Market

Speculation is heating up as tokens like VVV and TIBBIR surge, while Vitalik Buterin calls out a new token launch.
Speculation is heating up as tokens like VVV and TIBBIR surge, while Vitalik Buterin calls out a new token launch.

Crypto Markets Tick Up Following Supreme Court Tariff Ruling

Bitcoin holds near $67,700 while investors assess Trump’s new 10% global tariff plan.
Bitcoin holds near $67,700 while investors assess Trump’s new 10% global tariff plan.

bankless

Optimism's Ugly Year

Base's departure is throwing plenty of uncertainty at Optimism and its native token.
Base's departure is throwing plenty of uncertainty at Optimism and its native token.

Supreme Court Reverses Trump Tariffs

Stocks and crypto rallied after SCOTUS invalidated Trump's tariff program.
Stocks and crypto rallied after SCOTUS invalidated Trump's tariff program.

Zcash Foundation

NU7 Sentiment: ZCAP Polling Results

The Zcash Foundation recently concluded the ZCAP NU7 Sentiment Polling, which closed on Friday, February 20 at 20:00 UTC. This poll was designed to gauge community sentiment on 11 proposed protocol features and initiatives, each either completed or expected to be ready within the next year. This post summarizes the results from the ZCAP poll. […] The post NU7 Sentiment: ZCAP Polling Results appe

The Zcash Foundation recently concluded the ZCAP NU7 Sentiment Polling, which closed on Friday, February 20 at 20:00 UTC. This poll was designed to gauge community sentiment on 11 proposed protocol features and initiatives, each either completed or expected to be ready within the next year.

This post summarizes the results from the ZCAP poll. This poll ran in parallel with identical polls administered to coinholders, ZecHub, Zcash Brazil, Zcash Espanol, Zcash Turkey and Zcash Engineering Caucus. Individual poll results are advisory and non-binding on their own; they are evaluated alongside all other poll results to assess whether broad consensus exists across the ecosystem.

Participation

A total of 99 ZCAP members cast ballots out of 173 eligible participants, representing a 57% response rate. Each voter was permitted to abstain from individual questions while still submitting a valid ballot.

Results at a Glance Question #ProposalSupportOpposeAbstainTotal VotesSupport %1Zcash Shielded Assets (ZSAs)692919970.4%2Network Sustainability Mechanism (NSM) + Issuance Smoothing791559984.0%3Burning 60% of Transaction Fees via NSM712089978.0%4Memo Bundles732249976.8%5Explicit Fees791649983.2%6Disallowing v4 Transactions (Sprout Deprecation)732159977.7%7Project Tachyon (New Shielded Pool for Scalability)831429985.6%8STARK Proof Verification via TZEs (Layer-2 Support)5038119956.8%9Comparable-Based Dynamic Fee Mechanism672399974.4%10Consensus Accounts6719139977.9%11Orchard Quantum Recoverability86949990.5% What Comes Next

These ZCAP results will now be compared with other community polling results. If there is clear, broad consensus across all groups, that signal will inform decisions about which features are prioritized for NU7. 

We want to thank every ZCAP member who took the time to review the proposals, engage in discussion, and cast their ballot. Additionally, we appreciate those who organized alternative community polls and are grateful to everyone who took the time to vote.

The post NU7 Sentiment: ZCAP Polling Results appeared first on Zcash Foundation.


bankless

Autonomy vs. Guardrails: Crypto's Next AI Fight

OpenClaw made agents autonomous. Conway wants them self-funding. Now the debate is whether that's innovation or a problem.
OpenClaw made agents autonomous. Conway wants them self-funding. Now the debate is whether that's innovation or a problem.

Defiant

Fusaka Upgrade Fuels Record Address Poisoning on Ethereum

Lower gas costs have turned Ethereum into a playground for mass address poisoning, with scammers hitting thousands of wallets daily.
Lower gas costs have turned Ethereum into a playground for mass address poisoning, with scammers hitting thousands of wallets daily.

Only 1 in 10 Weak Token Launches Recovered in 2025: Arrakis

Data from more than 120 token launches shows that early sell pressure, not market timing, largely determined whether new tokens thrived in 2025.
Data from more than 120 token launches shows that early sell pressure, not market timing, largely determined whether new tokens thrived in 2025.

bankless

Leading Aave Code Contributor 'Rage Quits' DAO, Cites Centralization Concerns

BDG Labs will cease all contributions to Aave DAO on April 1, 2026.
BDG Labs will cease all contributions to Aave DAO on April 1, 2026.

Defiant

Lightspark Teams Up with Cross River Bank for Fiat Payments via Bitcoin

The partnership pairs Bitcoin settlement with FedNow plumbing.
The partnership pairs Bitcoin settlement with FedNow plumbing.

Fed Research Finds Kalshi Markets Outperform Wall Street Surveys

A new study found that Kalshi’s markets respond more quickly to economic shifts than traditional surveys.
A new study found that Kalshi’s markets respond more quickly to economic shifts than traditional surveys.

BGD to Leave Aave Citing Governance Tensions

The development team said that disagreements over direction, particularly around Aave V4, drove the decision.
The development team said that disagreements over direction, particularly around Aave V4, drove the decision.

BlueYard Capital

Risks and Opportunities in a Multipolar World

Key takeaways from behind closed-doors conversations at the Munich Security Conference The era of Western hegemony is over. What will follow, after nearly 80 years of international cooperation, is a multipolar scramble where nations compete for industrial supremacy, technology access, and control of critical resources. To make sense of this new era, we recently gathered a group of founders, inve

Key takeaways from behind closed-doors conversations at the Munich Security Conference

The era of Western hegemony is over. What will follow, after nearly 80 years of international cooperation, is a multipolar scramble where nations compete for industrial supremacy, technology access, and control of critical resources.

To make sense of this new era, we recently gathered a group of founders, investors and operators at our latest Risk Club session in partnership with our friends at General Catalyst in Munich.

These Risk Clubs, which BlueYard has held across the US and Europe for a few years now, bring together a dozen or so leading founders, investors, operators, policy makers, and journalists for conversations in a Jeffersonian debate dinner format. We focus on the defining risks of our time and how we might treat volatility as an opportunity to nudge ourselves towards utopia.

Whereas many aspects such as industrial capacity of the West, the ability to manage asymmetric cost warfare, and European sovereignty are the dominating topics, there are several additional potentially tectonic shifts and risks that key actors are focused on:

Compute is power, sovereignty is controlling your own compute capabilities

U.S. hyperscalers still control the majority of the world’s compute and data infrastructure. In response, European stakeholders are now investing massively in the bedrocks of digital sovereignty: cloud infrastructure, sovereign data centers, semiconductor lithography and more. The talent base around ASML and deep research institutions give the continent a foundation to build from. But it is one thing to build a technology, it is a completely other game to build a thriving ecosystem and commercial success. It’s still very much an open question where Europe and the rest of the world can replicate a sovereign AI stack (and get the parts required for the build out at scale — where some companies that tried to catch-up struggled with).

2. We are underestimating how AI can change the fabric of conflict and make democracies more vulnerable

AI progress is breakneck fast. And so will its impact be on the future of war. Not just attacking and defending IT systems and networks. But the ability to create massive and shifting social and information campaigns, spoofing personas, and synthetic content. The bar to swing an election will lower massively. New “trust tech” that allows people to figure out what is true or not could play an essential role. Or will societies default to treating everything as fake until verified. What does that imply for how societies work?

3. Middle Powers Rising

Whereas the US, China, and Europe dominate the headlines — middle powers such as Turkey both have military prowess and geopolitical influence and can tip the balance in a newly shaping world order. Expect other middle powers (potentially based on resource access) to find ways of projecting power.

4. The civil war no one is talking about: labour market vs AI

The impact of AI in labour markets is going to be a battle between productivity increases, GDP growth, and labour replacement. If the transition is not managed well, a new type of civil war between labour and the capital controlling AI could emerge.

5. European budget tailwinds, collaborative headwinds?

Europe is currently sitting on a €650B budget for rearmament and re-industrialization over the next four years. But the continent remains divided by its own strengths — Germany has capital and the industrial base, France has nuclear capabilities and experience. Without deeper cooperation between the two to build independent capabilities on the continent, Europe risks continuing paying protection money to the US as deterrence credibility gets eroded by a lack of integrated capabilities.

At BlueYard, we believe there is opportunity in volatile times like these. That the founders who will change the world emerge from these crucibles to build solutions that move us toward something better.

We’ve invested across defense, compute, and industrial resilience — backing founders building the infrastructure that sovereign, secure societies will depend on. In defense: Castelion, AnySignal, ZeroPhase, and Momentum. In compute: Corintis, Inpho, and Protocol Labs. In industrial: Manex, Eigenblue, and FDM.

We’re actively looking for the next generation of founders to make civilizational bets. If that’s you or if you’re an investor, policymaker, or operator thinking about these questions then we’d love to talk.


PIVX

PIVX Weekly Pulse (Feb. 13th, 2026 — Feb. 19th, 2026)

The PIVX Weekly Pulse covers everything from market vibes to major milestones. Get the full scoop on our community’s week before your coffee gets cold. Market Pulse Masternode Count: While the market wavers, PIVX masternodes remain rock solid. We saw four new nodes join the fray this week, pushing the total count from 2,070 to 2,074. This continued growth in the face of turmoil highlights

The PIVX Weekly Pulse covers everything from market vibes to major milestones. Get the full scoop on our community’s week before your coffee gets cold.

Market Pulse Masternode Count: While the market wavers, PIVX masternodes remain rock solid. We saw four new nodes join the fray this week, pushing the total count from 2,070 to 2,074. This continued growth in the face of turmoil highlights a community that is doubling down rather than backing out. Price Check: PIVX experienced a week of steady consolidation, trading within the $0.09 — $0.10 bracket. The weekly average settled at $0.0943, down slightly from $0.0947 the previous week. This minimal fluctuation suggests a period of price discovery as the network continues to build through the current bearish sentiment dominating the general crypto market. Trading Buzz: While the previous week saw higher turnover driven by “market turmoil” and rapid price shifts, this week reflects a more cautious, defensive stance from traders. The total weekly trading volume fell by 11.24%, closing the week at $15 million. Daily trading volume dipped below the $2 million benchmark towards the end of the week.

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

PIVX Weekly Pulse (Feb. 13th, 2026 — Feb. 19th, 2026) was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

Patrick Collison on Stripe’s Early Choices, Smalltalk, and What Comes After Coding

Michael Truell, CEO of Cursor, sits down with Patrick Collison, CEO of Stripe and an investor in Anysphere, to talk about Collison's history with Smalltalk and Lisp, the MongoDB and Ruby decisions Stripe still lives with 15 years later, why he'd spend even more time on API design if he could do it over, and whether AI is actually showing up in economic productivity data. This episode originally ai

Michael Truell, CEO of Cursor, sits down with Patrick Collison, CEO of Stripe and an investor in Anysphere, to talk about Collison's history with Smalltalk and Lisp, the MongoDB and Ruby decisions Stripe still lives with 15 years later, why he'd spend even more time on API design if he could do it over, and whether AI is actually showing up in economic productivity data. This episode originally aired on Cursor's podcast.

 

Resources: 

Follow Patrick Collison on X:   https://twitter.com/patrickc

Follow Michael Truell on X: https://twitter.com/mntruell

Follow Cursor: https://www.youtube.com/@cursor_ai

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.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.


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Defiant

Kraken Acquires Magna for Early Token Support

The acquisition closed on Friday and should enable Kraken to work closely with token teams early in development.
The acquisition closed on Friday and should enable Kraken to work closely with token teams early in development.

Thursday, 19. February 2026

bankless

The Cypherpunk Alternative to Discord

A primer on Status, the encrypted, open-source messaging app that crypto natives are eyeing as a Discord alternative.
A primer on Status, the encrypted, open-source messaging app that crypto natives are eyeing as a Discord alternative.

The SEC Is Eyeing a Crypto Innovation Exemption This Year

SEC leadership just offered its clearest signal yet that onchain securities trading in the U.S. is no longer a matter of if, but when.
SEC leadership just offered its clearest signal yet that onchain securities trading in the U.S. is no longer a matter of if, but when.

Defiant

Base’s Shift Away From Optimism Raises Questions About Superchain’s Future

Analysts told The Defiant that the move tests whether Optimism’s shared revenue model is sustainable in the long term.
Analysts told The Defiant that the move tests whether Optimism’s shared revenue model is sustainable in the long term.

bankless

The Stablecoin That Wants to Finance the AI Arms Race

How USD.AI's forthcoming $CHIP ICO stands to shake up the stablecoin sector.
How USD.AI's forthcoming $CHIP ICO stands to shake up the stablecoin sector.

Defiant

Ethereum Foundation Sets 2026 Protocol Priorities

The EF announced its 2026 Protocol priorities, emphasizing scalability, user experience, and security, as the network prepares for the Glamsterdam upgrade.
The EF announced its 2026 Protocol priorities, emphasizing scalability, user experience, and security, as the network prepares for the Glamsterdam upgrade.

Aptos Pivots Tokenomics Towards Performance-Driven Deflation

The Layer 1 network proposes token buybacks, raising gas fees by 10x, and reducing the staking rewards rate.
The Layer 1 network proposes token buybacks, raising gas fees by 10x, and reducing the staking rewards rate.

bankless

Crypto Lender Blockfills Seeks Sale to Plug $75M Loss: CoinDesk

The Susquehanna-backed crypto lender is reportedly seeking a buyer after suspending withdrawals and deposits last week.
The Susquehanna-backed crypto lender is reportedly seeking a buyer after suspending withdrawals and deposits last week.

Defiant

Hack VC-Backed Nillion to Shut Down Its Chain on Cosmos, Shift Focus to Ethereum

The migration comes just months after Cosmos announced it’s stepping back from efforts to turn the Cosmos Hub into a smart contract platform as TVL declines.
The migration comes just months after Cosmos announced it’s stepping back from efforts to turn the Cosmos Hub into a smart contract platform as TVL declines.

Exclusive: Eric Trump Calls Maldives Hotel First of Many Real Estate Tokenization Projects

The new project highlights World Liberty Financial’s broader push to bring traditional assets on-chain.
The new project highlights World Liberty Financial’s broader push to bring traditional assets on-chain.

bankless

Polymarket Snaps Up Prediction Market API Startup Dome

The acquisition suggests Polymarket is building toward becoming the infrastructure backbone of the predictions industry.
The acquisition suggests Polymarket is building toward becoming the infrastructure backbone of the predictions industry.

Defiant

Etherfi, Scroll’s Top Fee-Generator, Leaves for Optimism

Both etherfi and Optimism described the transition as a long-term partnership.
Both etherfi and Optimism described the transition as a long-term partnership.

bankless

CME's Around-the-Clock Crypto Trading to Kick Off Soon

CME Group plans on launching 24/7 cryptocurrency futures and options trading on May 29.
CME Group plans on launching 24/7 cryptocurrency futures and options trading on May 29.

Defiant

Anchorage Digital Launches Regulated 'Stablecoin Solutions'

Anchorage Digital has launched a new offering called Stablecoin Solutions, enabling banks to perform near-instant USD settlements.
Anchorage Digital has launched a new offering called Stablecoin Solutions, enabling banks to perform near-instant USD settlements.

a16z Podcast

AI’s Capital Flywheel: Models, Money, and the Future of Power

a16z's Martin Casado and Sarah Wang join Latent Space hosts Alessio Fanelli and Swyx to discuss what makes this AI investment cycle unlike anything in the history of venture capital. They cover why the lines between venture and growth, apps and infrastructure are blurring, how frontier model companies can raise more than the aggregate of everyone built on top of them, and why the industry-wide gap

a16z's Martin Casado and Sarah Wang join Latent Space hosts Alessio Fanelli and Swyx to discuss what makes this AI investment cycle unlike anything in the history of venture capital. They cover why the lines between venture and growth, apps and infrastructure are blurring, how frontier model companies can raise more than the aggregate of everyone built on top of them, and why the industry-wide gap between perception and reality has never been wider.

Follow Alessio Fanelli on X: https://x.com/FanaHOVA

Follow Swyx (Shawn Wang) on X: https://twitter.com/FanaHOVA

Follow Martin Casado on X: https://twitter.com/martin_casado

Follow Sarah Wang on X: https://twitter.com/sarahdingwang  

Listen to more from Latent Space: https://www.youtube.com/@LatentSpacePod

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.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.


Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


Defiant

PayPal’s PYUSD Supply Crosses $4 Billion

PYUSD has become the fourth-largest stablecoin on L2 Arbitrum after a partnership with USDai.
PYUSD has become the fourth-largest stablecoin on L2 Arbitrum after a partnership with USDai.

CME Group to Launch 24/7 Crypto Futures Trading

CME Group is set to commence 24/7 cryptocurrency futures trading on its CME Globex platform.
CME Group is set to commence 24/7 cryptocurrency futures trading on its CME Globex platform.

Wednesday, 18. February 2026

bankless

Offline Protocol 2.0's Blackout-Proof Messaging App

Unpacking Offline's latest 2.0 update and the new iteration of its Fernweh messaging app.
Unpacking Offline's latest 2.0 update and the new iteration of its Fernweh messaging app.

Defiant

Crypto Markets Fall as Bitcoin Drops 2.5% and Liquidations Near $200 Million

The selloff continues as tensions in the Middle East rise and the Department of Homeland Security remains partially shut down.
The selloff continues as tensions in the Middle East rise and the Department of Homeland Security remains partially shut down.

David Bailey’s Nakamoto Buys His Own Bitcoin Empire at a Discounted Public Price

The deal brings Bailey’s private ventures under a public umbrella, without a new shareholder vote.
The deal brings Bailey’s private ventures under a public umbrella, without a new shareholder vote.

OpenAI Unveils AI Benchmark Tool to Enhance Blockchain Security

Developed in collaboration with Paradigm, EVMbench evaluates AI agents' ability to detect, patch, and exploit smart contract vulnerabilities.
Developed in collaboration with Paradigm, EVMbench evaluates AI agents' ability to detect, patch, and exploit smart contract vulnerabilities.

MemeCore Rally Prompts Criticism Over Valuation

The token’s rally highlights an ongoing debate over memecoin fundamentals and speculation.
The token’s rally highlights an ongoing debate over memecoin fundamentals and speculation.

bankless

OpenAI and Paradigm Introduce 'EVMbench' for AI Agent Benchmarking

EVMbench measures how well AI agents can detect, exploit, and patch high-severity smart contract vulnerabilities.
EVMbench measures how well AI agents can detect, exploit, and patch high-severity smart contract vulnerabilities.

Defiant

Base Parts Ways With Optimism's OP Stack

Base, the Ethereum Layer 2 network launched by Coinbase, is transitioning from Optimism's OP Stack to a self-managed codebase.
Base, the Ethereum Layer 2 network launched by Coinbase, is transitioning from Optimism's OP Stack to a self-managed codebase.

bankless

Coinbase Abandons Optimism's OP Stack in Seismic Shift

Base devs believe they can ship faster by bringing technical development in-house, dealing a major blow to Optimism's Superchain dream.
Base devs believe they can ship faster by bringing technical development in-house, dealing a major blow to Optimism's Superchain dream.

Defiant

Canary Capital Launches First-Ever Staked SUI ETF

Canary Capital's introduction of the Canary Staked SUI ETF provides investors with regulated exposure to the Sui Network's staking rewards
Canary Capital's introduction of the Canary Staked SUI ETF provides investors with regulated exposure to the Sui Network's staking rewards

ether.fi Migrates to Optimism's OP Mainnet from Scroll

ether.fi, a crypto neobank, is migrating its services from the Scroll blockchain to Optimism's OP Mainnet to leverage enhanced payment capabilities and enterprise-grade support.
ether.fi, a crypto neobank, is migrating its services from the Scroll blockchain to Optimism's OP Mainnet to leverage enhanced payment capabilities and enterprise-grade support.

WLFI Jumps 30% as CEOs Sign Up for Mar-a-Lago Crypto Forum

The token’s surge highlights how headlines and political visibility continue to drive sentiment.
The token’s surge highlights how headlines and political visibility continue to drive sentiment.

bankless

Crypto Lawyer Jake Chervinsky Launches Hyperliquid Policy Center

Chervinsky will serve as CEO of the newly formed, Hyperliquid-backed crypto lobby group.
Chervinsky will serve as CEO of the newly formed, Hyperliquid-backed crypto lobby group.

Kraken Parent Company Acquires $60B Token Vesting Platform 'Magna'

Y Combinator-backed Magna will continue operating as a standalone platform, powered by Kraken
Y Combinator-backed Magna will continue operating as a standalone platform, powered by Kraken

Sequoia

Partnering with Firetiger: Validation at the Speed of AI

The post Partnering with Firetiger: Validation at the Speed of AI appeared first on Sequoia Capital.
Partnering with Firetiger

With code shipping at a breakneck pace, how does observability keep up? Rustam and Achille built agents to watch the agents.

By Lauren Reeder Published February 18, 2026

AI was supposed to make our lives easier. Yes, it can write our code for us. AI generates about half of Google’s code, while companies like Anthropic rely on agents close to 100 percent of the time. But as that code stacks up, it’s harder and harder to tell when your product is doing the right or wrong things for your customers. 

Firetiger is here to help. Firetiger is a new kind of observability product. Rather than expecting engineering to manage traditional events, dashboards and incidents, Firetiger handles all of that for you. Their agents are running 24/7, looking out for your customers, big and small. The Firetiger agent finds anomalies, checks if they’re real and who they’re impacting, and fixes them before your customers even notice if something went wrong.

Firetiger’s agents are keeping uptime numbers high and customers happy everywhere, from the biggest companies in the world to the fastest-growing startups in Silicon Valley. The product is available fully self-service for anyone to use.

Rustam and Achille have felt the pain they’re solving firsthand. As VP of Product at Cloudflare, Rustam led teams that shipped infrastructure to billions of users, while Achille built observability and solved scaling problems at Twitch, Segment and Twilio. They knew there had to be a better way—and with Firetiger, they’ve built exactly that.

Congrats on the launch! We’re thrilled to be your partners.

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #AI #Funding announcement Partnering with Pace By Bryan Schreier and Lauren Reeder News Read Partnering with Juicebox By David Cahn, Abhishek Malani, Lauren Reeder and Brian Halligan News Read Partnering with FastAPI Labs: Simplified App Deployment By Bogomil Balkansky and Lauren Reeder News Read Partnering with XBOW: The Gold Standard in Offensive Security By Konstantine Buhler and Lauren Reeder 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 Firetiger: Validation at the Speed of AI appeared first on Sequoia Capital.


Defiant

Hyper Foundation Backs New DC Lobby with 1M HYPE for Clearer DeFi Rules

With Jake Chervinsky at the helm, the Hyperliquid Policy Center gives the perp DEX a formal policy foothold in Washington.
With Jake Chervinsky at the helm, the Hyperliquid Policy Center gives the perp DEX a formal policy foothold in Washington.

Nexus to Launch Revenue-Sharing USDX Stablecoin

The stablecoin is built in collaboration with M0 and returns T-bill yields to ecosystem applications.
The stablecoin is built in collaboration with M0 and returns T-bill yields to ecosystem applications.

PIVX

Why Privacy is Crypto’s Final Frontier

If you’ve been in the crypto space long enough, you’d agree that we’ve spent the last decade obsessing over TPS (transactions per second), gas fees, and “the moon.” However, the industry’s most prominent voices are realizing that even the fastest, cheapest network in the world won’t matter if everyone can see your bank balance. This week, Binance co-founder Changpeng “CZ” Zhao took to X to e

If you’ve been in the crypto space long enough, you’d agree that we’ve spent the last decade obsessing over TPS (transactions per second), gas fees, and “the moon.” However, the industry’s most prominent voices are realizing that even the fastest, cheapest network in the world won’t matter if everyone can see your bank balance.

This week, Binance co-founder Changpeng “CZ” Zhao took to X to echo a sentiment that dominated the Consensus Hong Kong 2026 panels: The lack of privacy is the single biggest roadblock to mass crypto adoption.

The Salary Paradox

CZ simplified the problem with a scenario that hits close to home for any business owner. Imagine a company deciding to pay its employees entirely on-chain. In the current “transparent” regime of public ledgers, that decision would be corporate suicide. In minutes, anyone with a block explorer could map out the entire salary structure just by following wallet addresses.

In the pursuit of decentralized trust, we’ve built a financial system where your neighbour, your competitor, or a random stranger can see exactly how much you made last month and where you spent it. For CZ, this is a structural constraint. “Nobody really pays in crypto yet,” he noted, because the price of a transaction shouldn’t be your financial soul.

Wall Street Wants In, But Not with the Lights On

The sentiment wasn’t just coming from the crypto native camp. At Consensus, institutional heavyweights made it clear that total transparency is actually a dealbreaker for “Big Finance.”

Fabio Frontini, CEO of Abraxas Capital Management, put it bluntly: for large-scale transactions, public exposure is a liability. While institutions love the auditability of blockchain, they loathe the publicity of it. They need a system where deals are verifiable to the parties involved (and regulators), but invisible to the predatory eyes of the open market.

Emma Lovett of JPMorgan’s Markets DLT team reinforced this, noting that institutions will remain on the sidelines until they are certain their entire transaction history won’t be “doxxed” the moment a single wallet address is identified.

Transparency is a Trap

For years, the crypto industry touted radical transparency as its greatest virtue. We were told that a public ledger would end corruption and bring “power to the people.” I beg to differ because transparency without the option of privacy is not freedom; it is surveillance.

The industry has successfully lowered fees and increased speeds. We have the “rails.” Privacy and execution certainty are now the true hurdles. We are no longer fighting for the ability to send money; we are fighting for the right to send it without an audience. And no, I am not talking about “privacy coins” that hide from the law. I am talking about projects like PIVX, pioneering a world where blockchain powers the backend of traditional finance; faster and cheaper settlement that happens quietly under the hood.

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

Why Privacy is Crypto’s Final Frontier was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

From Copilots to Agents: Rebuilding the Company Around AI

a16z's Angela Strange and Gabriel Vasquez speak with Carlos García Ottati, founder and CEO of Kavak, about building Latin America's largest online used car marketplace across Mexico, Brazil, Chile, Argentina, and the Middle East. They discuss why building in emerging markets means constructing four businesses underneath your business, how Kavak replaced copilot tools with AI agents handling 90 to

a16z's Angela Strange and Gabriel Vasquez speak with Carlos García Ottati, founder and CEO of Kavak, about building Latin America's largest online used car marketplace across Mexico, Brazil, Chile, Argentina, and the Middle East. They discuss why building in emerging markets means constructing four businesses underneath your business, how Kavak replaced copilot tools with AI agents handling 90 to 95% of customer interactions, and what it took to go flat for a year during the transition before growing four times on the other side.

 

 

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

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Follow our host: https://twitter.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.


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Tuesday, 17. February 2026

bankless

Getting Started with ETH Strategy's ESPN Vault

ESPN tokenizes the ETH volatility trade into one asset, with auto-accruing yield for holders.
ESPN tokenizes the ETH volatility trade into one asset, with auto-accruing yield for holders.

Defiant

Erik Voorhees’ Venice AI Leads Altcoin Market

The decentralized artificial intelligence protocol is up 350% from its November low.
The decentralized artificial intelligence protocol is up 350% from its November low.

bankless

Hosting Apps, NFTs, and Beyond with Warren on MegaETH

A new permanent onchain storage solution has arrived on Ethereum's freshest L2.
A new permanent onchain storage solution has arrived on Ethereum's freshest L2.

Stripe-Backed Bridge Secures U.S. National Trust Banking License

The payment giant's stablecoin subsidiary is the latest crypto-native company to secure a banking license.
The payment giant's stablecoin subsidiary is the latest crypto-native company to secure a banking license.

BlackRock Begins Seeding ETH Staking ETF

The TradFi asset management giant is currently aping ETH to seed its latest investment product.
The TradFi asset management giant is currently aping ETH to seed its latest investment product.

Defiant

Elemental Royalty Corporation Offers Dividends in Tether Gold

Elemental Royalty Corporation becomes the first publicly listed gold company to offer dividends in Tether Gold (XAU₮)
Elemental Royalty Corporation becomes the first publicly listed gold company to offer dividends in Tether Gold (XAU₮)

Bitcoin Hovers Around $67,000 as Crypto Markets Drift Lower

Experts say volatility is cooling as investors await macro catalysts.
Experts say volatility is cooling as investors await macro catalysts.

Ethereum Staking Breaks New Highs as Price Slumps

The amount of ETH that's being used to secure the network recently crossed 30% of Ethereum’s circulating supply for the first time.
The amount of ETH that's being used to secure the network recently crossed 30% of Ethereum’s circulating supply for the first time.

bankless

Gemini Upends C-Suite With COO, CFO, and CLO Departures

The crypto exchange is furthering its ongoing reorganization efforts.
The crypto exchange is furthering its ongoing reorganization efforts.

Nakamoto to Acquire David Bailey's Bitcoin Magazine Empire in $107M All-Stock Deal

David Bailey is folding his Bitcoin empire into one public vehicle.
David Bailey is folding his Bitcoin empire into one public vehicle.

Defiant

Gemini Space Station Shares Slide 14% Amid Executive Shake-Up

The shares dropped after the company reported large losses and announced leadership changes.
The shares dropped after the company reported large losses and announced leadership changes.

Zora Launches Attention Markets on Solana

The activation enables users to trade “attention markets” that reflect real-life trends.
The activation enables users to trade “attention markets” that reflect real-life trends.

bankless

CFTC Chief Defends Agency's Exclusive Control over Prediction Markets

Michael Selig has filed a "friend of the court" brief, declaring federal supremacy over U.S. prediction markets.
Michael Selig has filed a "friend of the court" brief, declaring federal supremacy over U.S. prediction markets.

Defiant

Pumpfun Rolls Out 'Cashback Coins'

The Solana memecoin launchpad's new 'Cashback Coins' offer creators a choice between trader cashback and creator fees.
The Solana memecoin launchpad's new 'Cashback Coins' offer creators a choice between trader cashback and creator fees.

Dragonfly Raises $650M for New Fund to Back DeFi, Prediction Markets and Stablecoins

Dragonfly Capital has announced the closing of its $650 million Fund IV, focusing on stablecoins, decentralized finance, and prediction markets.
Dragonfly Capital has announced the closing of its $650 million Fund IV, focusing on stablecoins, decentralized finance, and prediction markets.

World Markets Launches ‘No ADL’ DEX on MegaETH

The DEX is one of the first dApps to launch on the new Layer 2 and offers on-chain spot and perps trading, as well as lending.
The DEX is one of the first dApps to launch on the new Layer 2 and offers on-chain spot and perps trading, as well as lending.

CFTC Says Prediction Markets Should Be Federally Regulated

The CFTC's legal action and statement comes as popular prediction marketplaces like Kalshi and Polymarket face lawsuits from U.S. state gambling regulators.
The CFTC's legal action and statement comes as popular prediction marketplaces like Kalshi and Polymarket face lawsuits from U.S. state gambling regulators.

Token Launch Timing Doesn't Matter, Says Dragonfly's Qureshi

New research by Dragonfly managing partner Haseeb Qureshi looked at long-term performance of Binance-listed tokens in bull and bear markets.
New research by Dragonfly managing partner Haseeb Qureshi looked at long-term performance of Binance-listed tokens in bull and bear markets.

a16z Podcast

WSJ x a16z: The Next 25 Years of Defense Innovation

In this episode from WSJ Invest Live, Andy Serwer speaks with Katherine Boyle, general partner at a16z, about the American Dynamism practice she helped launch four years ago. They discuss why saying "America" out loud stunned Silicon Valley in 2022, how Russia's invasion of Ukraine changed everything, and what it means to invest in companies that support the national interest.     S

In this episode from WSJ Invest Live, Andy Serwer speaks with Katherine Boyle, general partner at a16z, about the American Dynamism practice she helped launch four years ago. They discuss why saying "America" out loud stunned Silicon Valley in 2022, how Russia's invasion of Ukraine changed everything, and what it means to invest in companies that support the national interest.

 

 

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.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.


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Monday, 16. February 2026

Defiant

MegaETH TVL Rises 65% in a Week, but TGE Conditions Remain Unmet

A week after the much-anticipated L2's mainnet launch, the network is showing early liquidity gains, but traction is still below its KPIs for the MEGA token launch.
A week after the much-anticipated L2's mainnet launch, the network is showing early liquidity gains, but traction is still below its KPIs for the MEGA token launch.

Crypto Markets Slump Following Disappointing US Jobs Report

Total market value slipped 2% on the day as most large-cap tokens traded lower.
Total market value slipped 2% on the day as most large-cap tokens traded lower.

bankless

The Technical Leaps Hardening Ethereum's zkEVM Future

Ethereum’s zkEVM, post-quantum security, and client-side proving are converging into a leaner, scalable L1 plan.
Ethereum’s zkEVM, post-quantum security, and client-side proving are converging into a leaner, scalable L1 plan.

PIVX

How PIVX Provides the Digital Cash Experience that CBDCs Lack

Digital cash refers to monetary value that is stored and transferred virtually. Unlike physical cash, it exists only as data. Following the growing popularity of cryptocurrencies, there has been growing interest in digital cash by financial institutions. Notably, a handful of central banks began designing and rolling out what is referred to as Central Bank Digital Currencies (CBDCs). But are

Digital cash refers to monetary value that is stored and transferred virtually. Unlike physical cash, it exists only as data.

Following the growing popularity of cryptocurrencies, there has been growing interest in digital cash by financial institutions. Notably, a handful of central banks began designing and rolling out what is referred to as Central Bank Digital Currencies (CBDCs). But are CBDCs really the “digital evolution of cash”?

Well, here’s why I think PIVX is a better digital cash than CBDCs.

Anonymity vs. Surveillance

Judging by the original plan of Satoshi Nakamoto, the pseudonymous founder of Bitcoin, digital cash is supposed to be decentralized and peer-to-peer. CBDCs already fall short in this regard. However, in my opinion, the most significant difference between PIVX and a CBDC is the treatment of user data.

CBDC design generally involves a “permissioned” ledger where the central bank has a “god-view” of every transaction. While banks claim this is for AML (Anti-Money Laundering) compliance, it creates a permanent, searchable record of every purchase a citizen makes.

PIVX, on the other hand, uses the SHIELD protocol, based on zk-SNARKs. This allows users to send and receive “Shielded” transactions where the sender, receiver, and amount are cryptographically hidden.

Just like a $20 bill doesn’t record who held it last, PIVX allows for peer-to-peer exchange without leaving a data trail for central authorities.

Permissionless vs. Programmable Control

CBDCs and cryptocurrencies are often described as “programmable money,” which sounds like a feature but can function as a tool for restriction. Because CBDCs are centralized, the issuer can technically “turn off” your money, set expiration dates on your savings to force spending, or restrict what products you are allowed to buy.

PIVX is permissionless. There is no central authority that can freeze your account or blacklist your wallet. As long as you have your private keys, you have total control over your funds.

Governance and Ownership

In the world of CBDCs, you are a customer; in the world of PIVX, you are a stakeholder.

PIVX is a Decentralized Autonomous Organization (DAO). Users who run “masternodes” can vote on how the network’s treasury is spent. Because PIVX is distributed across thousands of nodes worldwide, it cannot be “shut down” by a single government or bank. A CBDC, being architecturally centralized, is vulnerable to systemic crashes or targeted censorship.

In conclusion, while CBDCs provide a digital version of the current banking system, PIVX provides a digital version of cash. It preserves the “silent” nature of physical currency while adding the speed and global reach of the internet.

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

How PIVX Provides the Digital Cash Experience that CBDCs Lack was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

Novartis CEO Vasant Narasimhan on Transforming a 250-Year-Old Company

a16z general partner Jorge Conde talks with Vasant Narasimhan, CEO of Novartis International, about transforming a 250-year-old conglomerate into a pure play medicines company and unlocking $180 billion of value in the process. They cover Novartis's platform technologies: cell and gene therapies, RNA medicines, and radioligand therapies. They also discuss AI in drug discovery, the rise of China as

a16z general partner Jorge Conde talks with Vasant Narasimhan, CEO of Novartis International, about transforming a 250-year-old conglomerate into a pure play medicines company and unlocking $180 billion of value in the process. They cover Novartis's platform technologies: cell and gene therapies, RNA medicines, and radioligand therapies. They also discuss AI in drug discovery, the rise of China as a biotech competitor, and what Vasant looks for when evaluating startup partnerships, including his advice on the killer experiments and CMC work that can make or break a deal.

 

Resources: 

Follow Vasant Narasimhan on LinkedIn: https://www.linkedin.com/in/vasnarasimhan/

Follow Jorge Conde on X: https://x.com/JorgeCondeBio

 

Stay Updated:

Find a16z on YouTube: YouTube

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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.


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Sunday, 15. February 2026

Epicenter Podcast

Something better than USDC for your Ethereum?

In this episode, host Friederike Ernst is joined by Michael Svoboda, CEO of Liquid AG, to discuss Liquity V2 and the launch of the BOLD stablecoin. Michael explains how Liquity maintains a governance-free, immutable architecture to provide "sovereign dollars" that are not dependent on human committees or centralized backstops. He introduces user-set interest rates, a novel DeFi primitive where bor

In this episode, host Friederike Ernst is joined by Michael Svoboda, CEO of Liquid AG, to discuss Liquity V2 and the launch of the BOLD stablecoin. Michael explains how Liquity maintains a governance-free, immutable architecture to provide "sovereign dollars" that are not dependent on human committees or centralized backstops. He introduces user-set interest rates, a novel DeFi primitive where borrowers determine their own rates to balance their cost of capital against the risk of being redeemed by stablecoin holders.


They explore the technical mechanics of the BOLD stablecoin, its multi-collateral backing of ETH and LSTs, and why the protocol funnels 100% of fees directly to users rather than extracting rent. Michael also shares his analogy of crypto-native stablecoins as "electric engines" that offer a fundamentally different risk profile from traditional banking rails. Finally, the conversation dives into the impact of global regulations like MiCA and why the future of finance belongs to peer-to-peer credit markets.


Topics



00:00 Intro & Context 04:15 Why Banking is Under Pressure 09:30 From V1 to Liquity V2 15:00 User-Set Rates Explained21:45 Redemptions & Peg Stability 27:10 Collateral Risk: ETH & LSTs 35:20 Cefi vs. Defi Risk Spectrum 42:15 Is Immutability Dogmatic? 49:00 Revenue Distribution & Self-Sustainability 55:30 Non-USD Stables & Global Shifts


Links


Michael on X: https://x.com/svobodamichael Liquity: https://www.liquity.org/ Bluechip: https://bluechip.org/ Lido: https://lido.fi/stvaults?mtm_campaign=epicenter

Sponsors:

Lido V3 introduces stVaults: modular staking infrastructure that lets builders and institutions deploy custom staking vaults, while staying anchored to stETH as a shared liquidity layer. Get started building with Lido V3 today: https://lido.fi/stvaults?mtm_campaign=epicenter

Saturday, 14. February 2026

Defiant

What Happened to Compound’s Crypto Lending Empire?

Compound was an OG of DeFi lending, but missteps have knocked it off its perch.
Compound was an OG of DeFi lending, but missteps have knocked it off its perch.

bankless

The 3 Fights Over Prediction Markets

As prediction markets boom, three battles will shape what they become.
As prediction markets boom, three battles will shape what they become.

Friday, 13. February 2026

Defiant

Crypto Flows Tied to Suspected Human Trafficking Reached ‘Hundreds of Millions’ in 2025: Chainalysis

The payments represent an 85% year-over-year increase, according to the report.
The payments represent an 85% year-over-year increase, according to the report.

MANTRA Jumps 33% after MEXC Supports Token Swap

After a fall from grace last year, Mantra is seemingly attempting a comeback with a rebrand.
After a fall from grace last year, Mantra is seemingly attempting a comeback with a rebrand.

bankless

The Aue Era: Ethereum Foundation's Next Chapter Begins

Inside the Ethereum Foundation’s latest leadership shift and its new co-executive director Bastian Aue.
Inside the Ethereum Foundation’s latest leadership shift and its new co-executive director Bastian Aue.

Defiant

Polymarket Launches 5-Minute Crypto Markets and Teases Airdrop

The leading prediction market is leaning into rumors of a future $POLY token airdrop.
The leading prediction market is leaning into rumors of a future $POLY token airdrop.

bankless

AI's Safety Net Is Fraying

Ethereum's cryptographic guardrails may be our best defense in the face of corporate AI's safety failures.
Ethereum's cryptographic guardrails may be our best defense in the face of corporate AI's safety failures.

Defiant

Lighter Enables Unified Collateral for Spot and Futures Trading

LIT surged 13% following a week of product updates.
LIT surged 13% following a week of product updates.

bankless

Donald Trump's Truth Social Files for Two New Crypto ETFs

The Trump family continues its efforts to cash in on crypto.
The Trump family continues its efforts to cash in on crypto.

Defiant

Tomasz Stańczak to Step Down from Ethereum Foundation

Bastian Aue will take over the co-executive director role alongside Hsiao-Wei.
Bastian Aue will take over the co-executive director role alongside Hsiao-Wei.

bankless

Spring or Bust: Secretary Bessent Declares Deadline for Crypto CLARITY

Congress must pass crypto reform by spring, or risk the political window slamming shut.
Congress must pass crypto reform by spring, or risk the political window slamming shut.

Defiant

Truth Social Files for Digital Asset ETFs

Truth Social Funds has filed with the SEC to launch two digital asset ETFs, aiming to integrate cryptocurrencies into traditional financial markets and attract new investors.
Truth Social Funds has filed with the SEC to launch two digital asset ETFs, aiming to integrate cryptocurrencies into traditional financial markets and attract new investors.

bankless

Bitcoin Marches Toward Post-Quantum Future with BIP 360 Proposal

BIP 360 has been merged into the official Bitcoin Improvement Proposal repository.
BIP 360 has been merged into the official Bitcoin Improvement Proposal repository.

Defiant

Crypto Markets Rally After Softer-Than-Expected US Inflation Report


bankless

Tomasz Stańczak Steps Down as Ethereum Foundation Co-ED

Tomasz Stańczak is leaving his Ethereum Foundation co-Executive Director role after a year. Bastian Aue will take over alongside Hsiao-Wei Wang.
Tomasz Stańczak is leaving his Ethereum Foundation co-Executive Director role after a year. Bastian Aue will take over alongside Hsiao-Wei Wang.

Defiant

Prediction Market Aggregator Stand Launches Counter-Trading Tool

The new tool lets users automate bets against consistent losers — instead of trying to copy winners.
The new tool lets users automate bets against consistent losers — instead of trying to copy winners.

Zcash Foundation

Embracing AI, Protecting Privacy: How Zebra Approaches AI-Assisted Contributions

AI coding tools are changing how open source software gets built. At Zcash Foundation, we’ve seen this firsthand: AI-assisted contributions have helped us ship features faster, enabled contributors who are new to Rust or to the Zcash protocol to make meaningful contributions, and accelerated our development velocity across four major releases—in the last three months […] The post Embracing AI, P

AI coding tools are changing how open source software gets built. At Zcash Foundation, we’ve seen this firsthand: AI-assisted contributions have helped us ship features faster, enabled contributors who are new to Rust or to the Zcash protocol to make meaningful contributions, and accelerated our development velocity across four major releases—in the last three months alone.

We’re embracing this shift. And we’re being intentional about it.

Why This Is Important For Zcash

Zebra is Zcash Foundation’s consensus node implementation; the software that validates every transaction on the Zcash network and enforces the protocol rules that protect users’ financial privacy. Following the zcashd deprecation and Network Upgrade 7, Zebra will become the primary consensus implementation for the entire Zcash network.

This is privacy-critical infrastructure. Every line of code in Zebra can affect the privacy of millions of people. A bug in consensus validation could reject valid shielded transactions or accept invalid ones. A flaw in cryptographic verification could compromise zero-knowledge proof security. An error in state management could lead to network forks or financial loss.

This is why every change to Zebra (whether written by a human, assisted by AI, or anything in between) goes through rigorous human review by our engineering team. That hasn’t changed.

What Has Changed

What has changed is the volume. Like many open source projects, we’ve seen a significant increase in external pull requests. Some are excellent contributions from developers using AI tools to work more effectively. Others lack context, prior coordination, or evidence that the contributor understands the change they’re proposing.

The challenge isn’t AI itself, it’s that opening a pull request comes with a real cost. Every PR requires a maintainer to read the code, understand the intent, evaluate correctness against Zcash’s consensus rules, and verify that nothing compromises the privacy or security guarantees our users depend on. That takes time, and our team’s review capacity is finite.

We’re not alone in navigating this. Projects across the ecosystem — Reth, Lodestar, Ghostty, and many others, have been developing approaches to maintain quality while welcoming AI-assisted work. GitHub itself is exploring new tools to help maintainers manage this shift. We’ve drawn from these examples to build an approach that fits Zebra’s specific needs as privacy-critical infrastructure.

Our Approach

We’ve introduced three things: clear guidelines for contributors, machine-readable guidance for AI agents, and transparent criteria for when we close PRs.

For Contributors

Our updated CONTRIBUTING.md now asks contributors to:

Start with an issue. Describe what you want to change and why, and wait for a team member to respond before writing code. An issue with no team acknowledgment doesn’t count as prior discussion. Disclose AI usage. If you used AI tools, tell us what tool and how you used it. This isn’t punitive, it helps reviewers calibrate their review. You are the sole responsible author of your code regardless of how it was written. Be ready to explain your work. If we ask during review, you should be able to explain the logic and design trade-offs of every change.


We’ve also made our PR closure criteria explicit. PRs may be closed if there’s no prior team discussion, if the change wasn’t requested, or if the contributor can’t explain their work. This is not personal; it’s about respecting everyone’s time, including the contributor’s.

For AI Agents

We’ve adopted the AGENTS.md standard: A universal format for providing AI coding agents with project-specific context. When a contributor uses Claude Code, GitHub Copilot, Cursor, or any of 20+ other tools inside the Zebra repository, the agent automatically reads our guidelines before generating code.

Our AGENTS.md provides agents with:

A contribution gate that prompts the agent to verify the contributor has discussed the change with our team before opening a PR Zebra’s crate architecture and dependency rules, so generated code respects our layered design Code patterns specific to Zebra: Tower service bounds, error handling conventions, numeric safety requirements, async patterns Security constraints critical for a privacy-preserving node: bounded allocations, input validation at system boundaries, cryptographic verification patterns


The goal is straightforward: if an AI agent understands Zebra’s architecture and policies, it produces better code and—just as importantly—warns its user when a PR would likely be closed.

We’ve also added custom instructions for GitHub Copilot Code Review, adapted from analysis of over 18,000 historical review comments on the Zebra repository. This gives Copilot Zebra-specific review checks so it flags the issues our maintainers actually care about.

AI Is Making Zebra Better

We want to be clear about something: AI-assisted contributions have been a net positive for Zebra; our recent development velocity speaks for itself. In the last three months, we’ve shipped four releases: Zebra 3.0.0, 3.1.0, 4.0.0, and 4.1.0.

Contributors using AI tools have helped make this possible. AI lowers the barrier for developers who may not have deep experience with Rust’s ownership model or Zcash’s consensus rules to contribute meaningfully. That’s a good thing; the Zcash ecosystem now benefits from a broader contributor base.

But every one of these features was deeply reviewed by our engineering team. Our maintainers understood the implications, verified correctness against the Zcash protocol specifications, and ensured nothing compromised the privacy guarantees our users depend on. AI accelerates the writing; the understanding and accountability remain human.

What We’re Asking of the Community

If you want to contribute to Zebra:

Start a conversation. Open an issue or reach out on Discord. Tell us what you want to work on. We’ll help you understand the scope, and guide you toward the right approach. Use AI tools if they help you. We welcome it. Just disclose it (your agent will surely do it for you) and make sure you understand what you’re submitting. Respect the process. Our review exists to protect Zcash users’ privacy and financial security. Working with us, not around us, means your effort is more likely to count.


If you’re building tools on top of Zebra, check out Zaino for indexer/lightwalletd functionality, Zallet for wallet features, or librustzcash for Zcash Rust libraries—many features that don’t belong in the consensus node have a natural home in the broader Z3 stack.

Looking Forward

We’ll be monitoring how these guidelines work in practice over the coming weeks: tracking whether they reduce review burden, whether contributors find them helpful, and whether we need to adjust. We’re committed to iterating based on what we learn.

The broader open source community is navigating this same transition. We’re learning from others, and we hope our approach—especially the use of AGENTS.md for machine-readable contribution policies—is useful to other projects in the Zcash ecosystem and beyond.

AI is making software development faster and more accessible. For privacy-critical infrastructure like Zebra, that velocity needs to be paired with intentionality. We believe we can have both.

The contribution guidelines, AGENTS.md, and Copilot review instructions referenced in this post are available in the Zebra repository. We welcome feedback on our approach—reach out via GitHub Issues, Discord, or the Zcash Community Forum.

The post Embracing AI, Protecting Privacy: How Zebra Approaches AI-Assisted Contributions appeared first on Zcash Foundation.


PIVX

PIVX Weekly Pulse (Feb. 6th, 2026 — Feb. 12th, 2026)

Stay in the loop with the PIVX Weekly Pulse. From market trends to ecosystem milestones, catch up on everything our community achieved this week in one quick read. Market Pulse Masternode Count: Despite ongoing market turmoil, the PIVX masternode network continues to showcase impressive stability. Defying the downward trend, the number of active nodes climbed to 2,070 this week, up from 2,

Stay in the loop with the PIVX Weekly Pulse. From market trends to ecosystem milestones, catch up on everything our community achieved this week in one quick read.

Market Pulse Masternode Count: Despite ongoing market turmoil, the PIVX masternode network continues to showcase impressive stability. Defying the downward trend, the number of active nodes climbed to 2,070 this week, up from 2,052. While some are exiting, strategic investors may be capitalizing on lower price points to increase their stake in PIVX. Price Check: The bearish sentiment currently dominating the general crypto market has continued to take its toll, and PIVX is no exception. This week, the privacy coin traded within a tight range of $0.09 to $0.10, resulting in a weekly average of $0.0947. This represents a 19.54% decrease from last week’s average of $0.1177. While the macro environment remains challenging, these levels are being closely watched by those looking at the network’s long-term resilience. Trading Buzz: PIVX trading activity showed strong staying power this week, maintaining robust liquidity despite broader market volatility. Weekly volume settled at $16.9 million, a minor 2.31% dip from last week’s $17.3 million.

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

PIVX Weekly Pulse (Feb. 6th, 2026 — Feb. 12th, 2026) was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

Balaji and Dan Wang: The Engineering State vs Lawyerly State

Balaji Srinivasan speaks with Dan Wang, author of Breakneck, about China's industrial rise, America's competing strengths in software and finance, and what happens when an engineering state and a lawyerly state collide. The conversation covers manufacturing dominance, the future of the dollar, why both superpowers keep making costly mistakes, and where builders fit into what comes next.   R

Balaji Srinivasan speaks with Dan Wang, author of Breakneck, about China's industrial rise, America's competing strengths in software and finance, and what happens when an engineering state and a lawyerly state collide. The conversation covers manufacturing dominance, the future of the dollar, why both superpowers keep making costly mistakes, and where builders fit into what comes next.

 

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Defiant

Bluefin-acquired Nexa Terminal Shuts Down Blaming Sui’s ‘Extremely Low’ Volume

The closure comes as monthly DEX volumes on Sui have dropped 70% from last year’s peak.
The closure comes as monthly DEX volumes on Sui have dropped 70% from last year’s peak.

Brave Browser

zkLogin: when ZKP is not enough

Zero-knowledge proofs can't fix what they can't see. Our security analysis of zkLogin reveals that real-world ZK authorization systems are only as secure as the authentication infrastructure they're built on.

Lessons from a Real-World Zero-Knowledge Authorization System

Joint work with Sofía Celi (Brave), Hamed Haddadi (Brave Software & Imperial College London), Kyle Den Hartog (Brave). This post was written by Brave’s Security Researcher, Sofía Celi. The work is based on: https://eprint.iacr.org/2026/227

Zero-knowledge proofs (ZKPs) are increasingly promoted as a foundational building block for privacy-preserving authentication and authorization systems. Recent proposals (particularly targeting integration into blockchain wallets, identity frameworks, and verifiable credential ecosystems) assert that ZKPs enable users to demonstrate ownership of externally issued documents without disclosing the documents themselves. Through this mechanism, such systems claim to enhance users’ accessibility, privacy and security. In these systems, a user receives an external digitally signed document, and then produces a ZKP attesting that the document satisfies some authorization process and a valid signature. The verifier relies solely on the proof (and public parts of the document), without ever seeing the underlying complete document. We refer to those systems as Zero-Knowledge Authorization.

One example of such a system is zkLogin, a widely deployed protocol. zklogin enables a user to authorize transactions, in the blockchain context, using a proof of possession of a signed JSON Web Token (JWT) issued through an OpenID Connect (OIDC) login flow. In this architecture, the JWT is treated as a root of trust: the user proves in zero knowledge that the token contains certain claims and carries a valid signature under an accepted OIDC identity provider. The verifier, often a smart contract, accepts the proof as an authorization credential, even though it never sees the full JWT.

At first glance, the security story appears straightforward for this protocol: if the used ZKP algorithm is secure and the OIDC issuer’s signature is valid, then authorization of actions should be secure and privacy preserving. However, this narrative implicitly assumes that the credential being proven about is itself well-defined, valid, canonical, and semantically robust. It also assumes that there is a strong link between the issuer, application that received the documents, user of the application, and machine that generates the ZKP proofs. But what happens when ZKPs are bolted onto messy, real-world authentication infrastructure?

Here (and in the full paper at: https://eprint.iacr.org/2026/227), we show that these issues are not mere curiosities or implementation concerns, but vulnerabilities of zklogin’s current architecture and overall system. We identify three broad classes of vulnerabilities in the system:

zklogin implicitly relies on externally issued JSON-based documents that can have ambiguous and non-canonical semantics, despite neither enforcing full JSON validity nor specifying a canonical parsing model.

The system transforms short-lived bearer authentication documents into durable authorization credentials, amplifying reliance on issuer trust while weakening scope binding, replay protection, and temporal validity enforcement. 

zklogin introduces privacy and governance risks by recentralizing trust in a small set of issuers and outsourced infrastructure, and by exposing user identity attributes to third-party services outside the original consent relationship.

What we found out shows that the security of this system (and related ones) cannot only follow from the ZKPs alone. Instead, it critically depends on external assumptions (document’s correctness, issuer governance, and execution environments) that are not guaranteed by the system. This post summarizes our main findings and, more importantly, the lessons they offer for anyone designing privacy-preserving authorization systems.

What is zkLogin?

zkLogin, as noted, is a prominent instance of a ZKA system, which has been widely adopted across numerous wallets within the Sui ecosystem, and it is used to authorize a substantial volume of real-world transactions: public metrics from Dune Analytics show sustained and

large-scale use of zkLogin-authenticated transactions (see: https://dune.com/queries/6273575). Official information from its designers states that there are over 7.6 million zkLogin transactions and over 500k zkLogin addresses 1. Here, we provide a full view of the zkLogin ecosystem and components. To do this, we carefully analyzed the full system and conduct an analysis of the current live integration: our analysis draws upon the zkLogin academic paper, open-source software, surveys conducted on the official live integration (which we reverse-engineer), official demo, public documentation, Docker Images (via reverse-engineering them) and public security audits.

But first, how does zkLogin work?

zkLogin enables users to authorize transactions using a signed JWT issued by an external OIDC Identity Provider (OP). As such, it uses the same parties as OIDC: OP, Relying Party (RP) or the app running on the device, and it expands them with an external proving and salt service. Note that OIDC is a federated-friendly protocol, and, as such, there can be many types of OPs. The core idea of zkLogin is that, instead of maintaining independent application key material, a user proves in ZKP that they possess a valid JWT signed by an issuer (e.g., Google, Twitch, Facebook), and that a fixed subset of the JWT’s claims satisfies a specified predicate. For this, let’s first look at what JWTs are.

JSON Web Tokens (JWTs)

A JSON Web Token (JWT) is a compact, URL-safe token that encodes a set of claims and protects them with a digital signature (or MAC) to ensure integrity and authenticity. A JWT consists of three Base64URL-encoded parts: header.payload.signature, where the header describes the signing algorithm, the payload contains claims (such as the issuer or expiration time), and the signature authenticates both. JWT claims are expressed as JSON key–value pairs. While the signature authenticates the raw bytes of the token, security ultimately depends on how these claims are parsed and interpreted. This includes enforcing semantic checks such as issuer and audience binding, freshness, and intended token use.

A subtle but important issue is key uniqueness. JSON does not mandate how duplicate keys are handled, and real-world parsers differ (“first wins,” “last wins,” or rejection). If different components interpret duplicate keys differently, a signed token may be validated under one interpretation but used under another, leading to serious security vulnerabilities.

JWTs in OpenID Connect (OIDC): In OIDC, RPs must validate JWTs before using them for authentication. This includes verifying the signature and checking security-critical claims like iss (issuer), aud (the RP identifier), sub (the user’s identifier), exp, and iat (for expiration), ensuring they are well-formed, correctly typed, bound to an authentication context, and semantically valid. Verification relies on issuer-provided public keys (via JWK sets), often selected using metadata in the token header such as alg and kid.

Crucially, OIDC validation is stateful and contextual: it depends on external configuration (e.g., client identifiers, issuer metadata), session-binding values (such as nonce and state), and time-varying data like key rotation and token expiration. As a result, JWT security is not just about cryptography: it hinges on consistent parsing, correct semantic enforcement, and careful binding to the surrounding authentication context.

zkLogin flow

zkLogin, hence, works in the federated-friendly setting of OIDC and inherits some of its trust assumptions and those from JWTs. As noted, it introduces two external parties: a proving service and a salt service. 

The system assumes that most backend services are untrusted, except for the OP. This mirrors OIDC in spirit: issuers are only trusted through explicit configuration or federation, and a valid JWT merely proves consistency with the issuer, not that the issuer itself is trustworthy. Note that in practice, OIDC provides no global mechanism to exclude malicious issuers, and real-world deployments frequently deviate from the specification. Common issues include missing replay protections, weak audience checks, overly long token lifetimes, and inconsistent claim formats. While traditional RPs can often compensate for these issues with additional checks and session binding, a malicious or attacker-controlled issuer can still generate JWTs that pass basic validation while violating application-level authorization intent, unless a strict issuer allow-list or trust chain is enforced.

zkLogin weakens this boundary by treating the RP as trusted and largely irrelevant to security. As a result, the RP may omit OIDC validation entirely and forward malformed or weakly validated JWTs to the proving and salt services. These services occupy an ambiguous trust position: they may be operated by the RP or by third parties with no direct relationship to the issuer and little context about RP policy. In such settings, JWTs are often accepted largely at face value, shifting responsibility for correct validation without providing any issuer-authoritative enforcement mechanism.

The flows of the protocol are: registration, request and issuance of JWT, (potentially external) salt-generation, (potentially external) proof-generation and verification. Let’s look at them now.

Registration: Before using zkLogin, a RP, such as a wallet or application, must first register with an OP. Through this process, the OP assigns the RP a public identifier, client_id, which the OP later embeds into the audience (aud) claim of issued JWTs. After OIDC registration, the RP separately registers its client_id with the zkLogin proving service and, optionally, salt service. These external backend services maintain their own issuer allowlists and mappings from issuers to public key registries (e.g., JWKS endpoints).

Login and Issuance of JWT: Prior to initiating the OIDC login flow, the RP locally generates zkLogin-specific authorization material: an ephemeral key pair (vk_U, sk_U), a random value r, and a maximum validity bound T_max defining the intended lifetime of the authorization epoch (which is longer than a OIDC login session). These values are combined into a nonce nonce=H(vk_U ∥ T_max ∥ r), which is embedded into the OIDC authentication request. The user then authenticates with the OP via a standard OIDC flow, after which the issuer returns a signed JWT containing claims such as issuer (iss), subject (sub), audience (aud), and the supplied nonce. While the JWT itself is short-lived and scoped under OIDC semantics, note that zkLogin decouples authorization from authentication as the the tuple (vk_U, sk_U, r, T_max) persists beyond the JWT’s expiration (often determined by the exp claim of the JWT), effectively establishing an authorization epoch that may outlive the underlying login session. Further, it is expected that several OIDCs logins will render the same JWT, so that it can be reused. Moreover, zkLogin repurposes the OIDC nonce from a OIDC-session-level replay-prevention mechanism into an epoch-level unlinkability primitive, and does not require it to be validated against stored session state.

Preparing for Proof Generation: After a successful login, the JWT is returned to the RP rather than being sent directly to the external proving service. The application may either persist the JWT locally (allowing easy reuse), or immediately forward it for proof generation. Although OIDC mandates extensive JWT validation (covering signature verification, JWT’s claim well-formedness, issuer and audience binding, and temporal validity), zkLogin documentation recommends only verifying the signature at this level. To mitigate address linkability across applications, zkLogin introduces a user-specific salt and derives the on-chain address as zkaddr=H(sub ∥ aud ∥ iss ∥ salt). The salt used for this may be generated locally or retrieved from an external salt service, often by forwarding the JWT itself. The salt is then stored client-side, frequently in browser local storage, and may be reused indefinitely; its secrecy and persistence become critical for privacy, yet it is not cryptographically bound to a device, application, or session.

Proof Generation: To authorize actions, the RP requests a zero-knowledge proof (π), typically by outsourcing proof generation to an external proving service maintained by a third party (the proving server): this is done by using a ZKP circuit in an externally-operated machine 2

In order to do so, the client forwards the JWT, salt, (vk_U, T_max, r), and derived address (zkaddr) to the prover, often via a standard HTTPS request in which the JWT is handled as explicit application data rather than a protected browser credential. The proving service performs a minimal audience check against a registered client_id, and then executes the zkLogin circuit. Rather than fully parsing and validating the JWT as JSON, the circuit uses “ad-hoc selective parsing”: it locates one instance of a fixed claim substrings (iss, aud, sub, nonce) via positional string searches, checks only for surrounding quotation marks and delimiters, and ignores canonicalization, unique-key enforcement, typing, and full JSON validity. The resulting proof attests that (i) the JWT satisfies this ad-hoc parsing procedure, (ii) its signature verifies under a trusted issuer key, (iii) the nonce corresponds to H(vk_U ∥ T_max ∥ r), and (iv) the claimed address was derived correctly using the salt. Neither the prover nor the verifier maintains state about nonce or salt reuse, nor do they check whether the epoch parameters remain consistent with the original JWT context.

Verification and Executing Actions: To execute a transaction, the user signs the payload using the ephemeral private key sk_U (creating the signature σ_U) and submits the tuple (vk_U, T_max, σ_U, π, JWT header, iss) to the verifier. The verifier first checks that the issuer’s public key is recognized as valid (typically via periodically fetched JWKS data), then enforces that the epoch parameter T_max lies within an acceptable window relative to the current epoch. Finally, it verifies the ZKP (π), which attests to the correctness of the ad-hoc selective claim extraction/parsing, signature verification, nonce construction, address derivation, and the action signature under vk_U. If all checks succeed, the transaction is authorized. 

By doing this flow, zkLogin has effectively transformed a short-lived session-bound web authentication artifact into a reusable authorization credential whose validity is governed by epoch parameters and local state, rather than by the original OIDC session semantics.

Vulnerabilities: When Authorization Inherits the Messiness of the Web

The usual security story for zkLogin goes like this: if the verifier accepts a proof that a JWT was validly signed by an OP and contained the right claims via the ad-hoc selective parsing procedure, then authorization must be secure. This story, however, can be wrong. What the verifier actually accepts is a proof about how one component chose to interpret a raw byte string, under a particular parsing non-standarised heuristic, issuer allowlist, and execution context. These choices are not fixed by the protocol, not visible to the verifier (or other parties), and in several cases are explicitly pushed onto untrusted infrastructure.

Because zkLogin does not provide a full threat model beyond trust assumptions of parties, we consider three adversarial settings when we looked at this protocol:

Standard (network) adversary, able to intercept and modify communications between the RP, external services, and the issuer.

Malicious-services adversary, controlling the prover, salt service, and/or issuer infrastructure.

Compromised-RP adversary, temporarily compromising the user device running the RP (e.g., via a malicious browser extension).

For the vulnerabilities found, we consider a conservative threat model in which the proving and salt services are untrusted but semi-honest: they follow their published interfaces and do not actively collude with attackers or generate malformed proofs, but may deviate in policy enforcement or validation strictness. This assumption is weaker than the zkLogin paper’s adversarial model, which treats backend services as fully malicious. Importantly, the vulnerabilities we describe do not rely on active misbehavior by these services; they arise from missing or underspecified binding and validation checks and therefore apply a fortiori when the services are fully malicious.

For the remaining parties, we adopt stronger adversarial assumptions. We treat the OP under the malicious-services model: the OP may be attacker-controlled or misconfigured and may issue syntactically valid and correctly signed JWTs that violate intended semantic constraints. This is not an unrealistic constraint as it has been shown that OPs can issue malformed JWT: Unit 42, for example, reports critical OIDC misconfiguration patterns in CI/CD ecosystems affecting major vendors such as CircleCI and GitHub Actions. We also consider the RP under a compromised-RP model: the RP environment may be affected by injected scripts, malicious browser extensions, compromised dependencies, or brief device compromise. In such cases, the RP may forward malformed or semantically invalid JWTs to external services and store long-lived authorization material in browser-accessible memory or storage. This directly contradicts a key trust assumption made by zkLogin, which treats the front-end application as trusted and required only for liveness, not security, by arguing that front-end code is public and thus “subject to greater public scrutiny” 3. In browser-based deployments, however, trust cannot be inferred from source-code visibility alone. Runtime compromise of the client environment enables extraction and replay of sensitive bearer artifacts, an attack surface well established in prior work.

We argue that this threat model is realistic. OPs operate outside the system’s administrative boundary; zkLogin explicitly supports outsourced proving and salt services; and many deployments rely on browser-based RPs with limited isolation guarantees. A secure zkLogin design should therefore remain robust in the presence of third-party services, heterogeneous issuers, and partially compromised RP environments that do not share a single trust domain.

Here, we describe three broad classes of vulnerabilities that arise from zkLogin’s design choice. None of them involve breaking cryptography or zero-knowledge proofs. Instead, they stem from semantic ambiguity, missing binding guarantees, and architectural trust shifts. Together, they show that zkLogin’s security does not reduce only to the ZKP.

1. The Parser Is the Protocol

At the core of zkLogin lies a subtle but critical design choice: the system does not prove statements about JWTs as defined by OIDC or the JWT standard. Instead, it proves statements about how a particular circuit parses a byte string that is claimed to be a JWT. This distinction is not cosmetic. It fundamentally reshapes what security guarantees the system can (and cannot) provide.

In zkLogin, the zero-knowledge circuit responsible for “verifying” JWT claims does not implement a standards-compliant JSON parser. It does not enforce JSON validity, canonical encoding, unique keys, or correct typing. Instead, it performs ad-hoc selective parsing: it searches for one instance of fixed substrings corresponding to a small set of expected claims (iss, sub, aud, and nonce), checks for superficial syntactic markers such as quotation marks and delimiters, and extracts whatever lies between them. Everything else in the payload is ignored.

As a result, zkLogin never establishes that the JWT payload is a well-formed JSON object, let alone that it has a unique or unambiguous interpretation. The proof attests only that there exists a way to extract certain substrings from the signed byte string that satisfy the circuit’s local checks. This immediately creates a class of semantic confusion vulnerabilities (some of them are highlighted in the Figure below).

Claim ambiguity and shadowing: From a practical perspective, JSON allows for duplicate keys, while leaving their semantics undefined, even though the JWT RFC asks for unique claim’s name. Real-world parsers disagree: some reject claims that are duplicated, others implement “first wins” or “last wins” behavior. zkLogin does not reject duplicate keys, nor does it specify which occurrence is authoritative. This means a single signed JWT payload can contain multiple iss, sub, aud, or nonce fields, with different values. The circuit may extract one occurrence, while other components (wallet code, logs, UI, backend services, or even the issuer’s own libraries) may interpret another. Because the verifier never sees the payload, it has no way to detect or resolve these inconsistencies. In effect, zkLogin allows claim shadowing: an attacker-controlled issuer (or a misconfigured one) can embed benign-looking claims early in the payload and override them later, while still producing a proof that passes verification. The ZKP is sound, but the meaning of the statement it proves is ambiguous.

Non-canonical encodings and parser differentials: The circuit’s parsing logic tolerates arbitrary characters inside quoted strings. It does not validate escape sequences, Unicode normalization, control characters, or embedded quotation marks. This enables parser differentials across the system: different components may interpret the same claim string differently depending on their JSON libraries, string handling rules, or sanitization practices.

This is not a purely theoretical concern. JWT claims are frequently logged, embedded into URLs, or forwarded to other services. Allowing attacker-controlled, non-canonical strings to be bound into authorization proofs expands the attack surface well beyond the authorization check itself. In a traditional OIDC flow, such issues are mitigated by short token lifetimes and strict validation at the RP-level. In zkLogin, the same malformed payload can be reused to mint long-lived authorization proofs.

Proving bytes, not meaning: The deeper issue is structural: zkLogin never fixes the semantics of the object it reasons about. There is no canonical grammar for JWT parsing specified at the protocol level, uniqueness of claims, and no guarantee that all parties interpret the payload in the same way. The ZKP therefore attests to compliance with one particular parsing strategy, chosen by the prover and embedded in the circuit, rather than to a universally agreed-upon interpretation of a JWT.

This means that correctness depends on unstated assumptions: that issuers never produce malformed or ambiguous JSON, that all components agree on parsing behavior, and that ad-hoc substring extraction is “close enough” to real JWT validation. These assumptions routinely fail in real-world identity systems.

The lesson here is not that ZKPs are weak, but that they faithfully amplify whatever semantics you give them. If the input object is ill-defined, the proof will be too. In zkLogin, non-canonical JWT parsing turns authorization into a proof about strings, not about identities or authentication events, and the difference matters.

Acknowledged, but Underexplored, by zkLogin: The zkLogin paper itself acknowledges that allowing escape sequences in JSON keys can break security: if keys contain escaped quotes, claim binding may fail. This confirms that key canonicalization and unique-key enforcement are security-critical, not just interoperability concerns. However, the paper treats escaped quotes as an isolated edge case and does not address the broader class of non-canonical encodings and character smuggling in claim keys and values. More importantly, it overlooks the downstream risk of tainted claims: even with a valid JWT signature, attacker-controlled strings may propagate through the system and affect later components.

Preventing claim confusion therefore requires more than blocking a single pattern. It demands strict, canonical parsing and sanitization throughout the entire zkLogin pipeline, from JWT ingestion to proof generation and consumption.

2. From authentication to authorization, without binding

In practice, zkLogin’s security relies on several environmental assumptions that are not enforced by the protocol itself: (i) provers correctly enforce a strict issuer allow-list; (ii) the aud claim reliably identifies and authorizes the RP, despite being public and not cryptographically bound to the RP; and (iii) JWTs admit a unique, canonical interpretation under the prover’s implicit parsing model. We show that each assumption can be violated in realistic deployments, enabling unauthorized proof generation and ultimately cross-RP and cross-subject impersonation. For this, let’s look at malicious issuers, unauthorised access to salt and proving services, and the storage of zkLogin’s material. 

On Malicious issuers: The zkLogin reference implementation expands issuer trust beyond an explicit allow-list by accepting any Amazon Cognito user pool whose iss matches a fixed URL pattern. Concretely, any issuer string of the form https://cognito-idp.<region>.amazonaws.com/<tenant_id> is treated as trusted, with verification keys dynamically fetched based on attacker-controlled values embedded in iss. This allows any adversary to instantiate a malicious Cognito issuer that is accepted by default.

While some hosted provers enforce additional issuer restrictions, this is a deployment-specific mitigation rather than a protocol guarantee. Issuer trust is treated as mutable prover configuration rather than a first-class security parameter bound into verification semantics and for the whole protocol. In federated OIDC settings (where attacker-controlled issuers are feasible) this assumption is particularly fragile. Unlike WebPKI, where trust roots are explicit, audited, and ecosystem-wide, zkLogin leaves issuer trust policy underspecified and unenforced at the protocol level.

On unauthorized prover and salt service access: Access to proving and salt services is commonly gated by RP-specific API keys. In observed deployments, these keys are transmitted directly from browser environments and stored directly in client-accessible state at the browser level. Because the API key uniquely identifies an RP, its disclosure enables direct RP impersonation when invoking external services.

Critically, this API key is a static bearer credential and is not cryptographically bound to protocol values such as aud, iss, or the JWT being proven. As a result, possession of the key suffices to request proofs for arbitrary JWTs, including those whose aud does not correspond to the RP that registered the key. Even maintaining an allow-list of acceptable aud values per RP only enforces set membership, not binding to the specific authorization context under which the JWT was issued. Consequently, the proving service effectively becomes a generic proof oracle: any party holding an RP’s API key can generate proofs for identities and applications unrelated to that RP, while presenting those proofs as originating from a legitimate zkLogin flow.

The missing binding extends to the subject identifier sub. In OIDC, sub is defined only relative to a particular issuer and issuance context; it has no global meaning independent of iss. zkLogin does not enforce any binding between sub, iss, and the RP identity requesting the proof. Since sub values are issuer-defined and unbounded, they cannot feasibly be pre-registered or allow-listed by the prover.

As a result, an RP (or attacker) holding an API key can request proofs for arbitrary subjects or RPs, without demonstrating control over the corresponding JWT, an active session at the issuer, or consistency with the intended authorization context. Nothing at the proving interface enforces that the subject attested in the proof corresponds to the authenticated RP identity.

A correct design would authorize proof generation only for consistent tuples (iss, sub, aud, RP), and ensure that this binding is explicitly attested in the ZKP. zkLogin provides neither protocol-level mechanisms nor implementation guidance to enforce such constraints.

On browser trust assumptions: zkLogin deployments frequently store (and encourage to do so) long-lived authorization material (including API keys, salts, and cryptographic state) in insecure browser-accessible storage (local storage or session storage) and transmit these values directly from client-side code to external services. This contradicts OAuth and OIDC best practices, which explicitly discourage placing bearer credentials in browser contexts.

Browser isolation mechanisms (SOP, CSP) do not provide the confidentiality or integrity guarantees assumed by zkLogin even though the documentation notes that “the same-origin policy for the proof prevents the JWT obtained for a malicious application from being used for zkLogin”. All same-origin scripts (including third-party libraries and injected dependencies) have full access to origin storage and network capabilities. Origin isolation constrains where requests originate, not who they authenticate as. Static bearer credentials trivially bypass these protections.

Thus, reliance on browser trust assumptions amplifies impersonation risk: stolen API keys and salts can be reused from any context to generate new proofs, independently of the original JWT or application.

End-to-end attack

Combining these issues yields an end-to-end cross-impersonation attack without breaking cryptography or deviating from documented behavior. An attacker can:

Register a malicious AWS Cognito issuer accepted by pattern matching.

Extract an RP’s API key from a browser-based integration.

Construct a JWT containing a chosen aud and attacker-selected sub under the malicious issuer.

Submit the JWT to the proving service using the stolen API key.

The result is a valid zkLogin proof attesting to an identity and RP context unrelated to the legitimate authorization flow. The vulnerability arises entirely from missing bindings between RP identity, issuer trust, subject identity, and proof authorization, not from cryptographic flaws.

More broadly, these issues are exacerbated by treating JWT-derived proofs as reusable authorization credentials that can be safely stored at the browser insecure storage. JWTs were designed as short-lived authentication artifacts: using them (or their ZK derivatives) for long-term authorization, especially when stored client-side, magnifies replay and impersonation risks.

3. Centralization and Privacy Risks

Despite its stated goals of decentralized and privacy-preserving authentication, zkLogin recentralizes trust around a small set of actors: a fixed group of identity issuers, outsourced proving and salt services, and browser-based clients that store long-lived bearer artifacts. Even in federated OIDC environments, zkLogin remains structurally centralized: proof validity ultimately depends on issuers maintaining stable namespaces, subject semantics, and public keys, while proving and salt services maintain global state such as issuer-to-key mappings, JWT storage, and allow-lists.

zkLogin also centralizes identity around issuer-managed user accounts. Participation requires users to hold accounts at specific platforms, embedding existing web identity providers directly into the authorization layer rather than removing reliance on them. Because each authentication flow is issuer-mediated, the issuer can observe which RP a user logs into via aud, redirect metadata, and related context, a known privacy limitation of federated SSO. Moreover, issuer identifiers are exposed to system participants, facilitating cross-RP linkability when combined with other forwarded material.

Forwarding JWTs to external proving or salt services further expands the trust boundary. JWTs frequently embed sensitive attributes (e.g., email addresses, profile information), which are disclosed to third-party services (salt or prover) that were not part of the user’s original OIDC consent decision. The consent granted during authentication authorizes disclosure to the RP, not to an external prover operated by a separate entity. zkLogin provides no mechanism to inform users of this secondary disclosure, rendering the original consent semantically incomplete.

Token handling at these external services is opaque. The documentation offers no guarantees about JWT retention, inspection, aggregation, or the linkability of derived salts or keys across applications. Users are not informed whether identifiers persist at centralized proving services serving multiple wallets and RPs, nor whether repeated uses can be correlated. Public documentation contains little explicit analysis of these privacy and linkability risks.

Finally, zkLogin does not clearly directly improve usability or user autonomy when compared to maintaining private key material. Correct operation still depends on long-lived secrets: salts must be persistently stored; RP API keys must be protected indefinitely; and ephemeral cryptographic material must remain recoverable. Rather than eliminating secret management, zkLogin largely shifts it from explicit cryptographic wallets to opaque client-side storage and static bearer credentials, with corresponding security and privacy trade-offs.

Ethical Considerations and Responsible Disclosure

We conducted this research under a responsible disclosure process. All findings were shared with the zkLogin designers and Sui in November 2025, with follow-up communication in February 2026. Our disclosure included a detailed technical report covering architectural, parsing, policy, and centralization vulnerabilities, together with concrete remediation recommendations.

In particular, we recommended: (i) enforcing specification-compliant JWT parsing and validation at the RP; (ii) strict issuer allow-listing without pattern-based trust (e.g., AWS Cognito templates); (iii) cryptographic binding between issuer, subject, audience, and RP identity (e.g., API key); (iv) prohibiting storage of long-lived authorization material in browser-accessible environments; (v) eliminating exposure of RP API keys to the browser; (vi) stricter validation at proving and salt services, including canonical JSON and key-uniqueness enforcement; and (vii) explicit user consent before forwarding sensitive JWTs to third-party proving services.

The response we received addressed only client-side key exposure, asserting that TLS and JWT scoping provide sufficient protection. Our analysis shows this to be incorrect: API keys are bearer credentials whose possession alone enables misuse across contexts; TLS does not protect against runtime compromise of the browser environment; and static browser-exposed credentials prevent targeted revocation and incident containment. Established web security patterns (short-lived credentials, proof-of-possession bindings, backend-mediated invocation, or OAuth Authorization Code Flow with PKCE) would significantly reduce these risks.

At no point did we exploit these issues in production systems or interact with real user data. All experiments were conducted using test accounts, locally generated JWTs, and public testnet endpoints. Reverse engineering was limited to publicly distributed artifacts intended for third-party deployment and was performed solely to understand undocumented security-relevant behavior. We avoided generating impersonation-capable credentials and followed standard ethical guidelines for security research throughout.

What This Means for ZK Authorization Systems

What we found, as part of this analysis, is not a failure of ZKPs, but it is a lesson in systems security. If you build ZK authorization on top of real-world authentication ecosystems, you must treat the following as first-class security properties:

canonical parsing and unambiguous semantics,

issuer trust and governance ingrained in the protocol,

binding between authentication context and authorization,

lifecycle management of credentials,

deployment and storage assumptions.

Our analysis shows that _zkLogin’_s core security assumptions do not hold under realistic adversarial conditions. The vulnerabilities we identify undermine the guarantees zkLogin claims to provide, including issuer-bound authorization, input integrity, unlinkability, and decentralization. These are not isolated implementation bugs, but consequences of architectural design choices that repurpose short-lived web authentication tokens into long-lived authorization credentials.

A recurring theme is composition failure. Parsing ambiguities allow adversarially shaped JWTs; the absence of RP-side validation enables malformed tokens and audience confusion; external proving and salt services amplify trust without enforcing issuer–RP–subject binding; and browser-based storage of cryptographic material turns logical flaws into practical exploits. Each layer weakens the system in isolation; together, they negate its intended security model.

The weaknesses span the entire pipeline. At the identity layer, issuer, audience, and subject bindings are not enforced with correct temporal or semantic constraints. At the proving layer, circuits validate only narrow byte-level properties while assuming parsing semantics incompatible with JSON and OIDC. At the blockchain layer, validators rely on incomplete or stale issuer metadata, with no mechanism to ensure that proofs correspond to the RP or authorization context under which the JWT was issued.

More broadly, zkLogin illustrates a deeper problem with extending web authentication artifacts into cryptographic authorization systems without a unified threat model. The design combines OIDC semantics, ad hoc parsing logic, outsourced proving services, and blockchain-specific expiry rules without a principled end-to-end security framework. As in other federated identity systems, this leads to brittle trust boundaries, opaque data flows, and trust relationships that outlive the tokens from which they derive.

These risks are magnified when such systems are proposed for high-stakes identity settings, such as digital identity wallets or government-backed attestations. Repurposing web tokens while weakening issuer, audience, and consent guarantees risks entrenching centralized identity providers as long-term authorization oracles, exposing sensitive personal data to third-party provers, and eliminating meaningful revocation and policy control. Systems of this kind should not be deployed without rigorous, formal security and privacy analysis, and without reconsidering whether session-bound web authentication tokens are an appropriate foundation for cryptographic authorization at all.

To read our full report, check the full paper at: https://eprint.iacr.org/2026/227

Metrics reported on 28 of March 2025 in the RWC 2025 Symposium. ↩︎

The proof can be generated locally, but this is actively discouraged due to high costs. In fact, none of the analysed deployments and documentation chose to do so locally. ↩︎

As noted in the zkLogin paper, page 6↩︎

Thursday, 12. February 2026

bankless

NFT Mints I'm Watching This Month: February 2026

Getting ready for Inaccessible Worlds, To Be a Machine, and NORMIES.
Getting ready for Inaccessible Worlds, To Be a Machine, and NORMIES.

Why Some Traders Are Rethinking Perpetuals

The 10/10 liquidations have prompted some crypto investors to take a harder look at perpetual future risks — and their alternatives.
The 10/10 liquidations have prompted some crypto investors to take a harder look at perpetual future risks — and their alternatives.

Payments Processor Stripe Acquihires PartyDAO Team

The party may be over for the PartyDAO product, but its team is headed to Stripe.
The party may be over for the PartyDAO product, but its team is headed to Stripe.

Defiant

Espresso Token Launches at $275 Million Valuation

Launchpad buyers are down 30% with a 2-year vesting period ahead of them.
Launchpad buyers are down 30% with a 2-year vesting period ahead of them.

Hyperliquid-Based Ventuals’ Trading Volume Surges 100% in 17 Days

Cumulative trading volume on the tokenized private equity platform reached $200 million about four months after the protocol’s launch.
Cumulative trading volume on the tokenized private equity platform reached $200 million about four months after the protocol’s launch.

bankless

Aave Labs Wants $33M from DAO for Product Revenue Rights

Aave Labs is seeking one-quarter of the DAO's cash reserves for future product rights.
Aave Labs is seeking one-quarter of the DAO's cash reserves for future product rights.

Defiant

Vitalik Proposes ‘Decentralized Governance’ Model for Russia’s Future

The Ethereum co-founder condemned Russia’s invasion of Ukraine while saying the country could benefit from crypto principles like decentralization.
The Ethereum co-founder condemned Russia’s invasion of Ukraine while saying the country could benefit from crypto principles like decentralization.

bankless

Crypto Lender BlockFills Freezes Withdrawals and Deposits

It's possibly the first institutional crypto credit casualty of this market cycle.
It's possibly the first institutional crypto credit casualty of this market cycle.

Defiant

Aave Labs Proposes New DAO Value Accrual and Growth Framework

The new proposal aims to resolve the ongoing debate and align the interests of equity holders and token holders.
The new proposal aims to resolve the ongoing debate and align the interests of equity holders and token holders.

Bitcoin Plunges Under $66,000 as Crypto Sentiment Index Hits Historic Low

Total market cap is holding steady today, even as sentiment sinks to the weakest level on record.
Total market cap is holding steady today, even as sentiment sinks to the weakest level on record.

Optimism Taps Succinct to Enable Instant Withdrawals

The zero-knowledge validity proofs will become canonical across the OP stack.
The zero-knowledge validity proofs will become canonical across the OP stack.

ETHZilla Launches Aviation Token Backed By Jet Engines

The new token offers investors exposure to lease payments generated by two jet engines.
The new token offers investors exposure to lease payments generated by two jet engines.

a16z Podcast

Anish Acharya: Is SaaS Dead in a World of AI?

In this episode from 20VC, Harry Stebbings talks with Anish Acharya, general partner at a16z, about the future of SaaS in an AI world. Anish argues that software is completely oversold and that the general story about vibe coding everything is flat wrong. They discuss why SaaS switching costs are actually going down thanks to coding agents, where startups versus incumbents will win, and whether th

In this episode from 20VC, Harry Stebbings talks with Anish Acharya, general partner at a16z, about the future of SaaS in an AI world. Anish argues that software is completely oversold and that the general story about vibe coding everything is flat wrong. They discuss why SaaS switching costs are actually going down thanks to coding agents, where startups versus incumbents will win, and whether the apps layer or foundation models will capture more value. They also cover agent overhype, the changing UI paradigm, what defensibility looks like now, and why boring wins versus weird wins in this product cycle.

 

Resources:

Follow Anish Acharya on X:  https://twitter.com/illscience

Follow Harry Stebbings on X:  https://twitter.com/HarryStebbings

Listen to more from 20VC: https://www.thetwentyminutevc.com/

Check out 20VC's YouTube: https://www.youtube.com/@20VC

 

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.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.


Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.


Defiant

Lombard Launches Smart Accounts to Connect Institutional Bitcoin to DeFi

The new system lets institutions earn yield and access liquidity without moving Bitcoin out of custody.
The new system lets institutions earn yield and access liquidity without moving Bitcoin out of custody.

Brave Browser

Brave launches most powerful search API for AI to date

Brave launches the LLM Context API, the most powerful search API for AI to date. With Brave's grounding data, cheaper open-weight models beat ChatGPT, Perplexity, and Google AI Mode.

Testing proves Brave’s high-quality grounding data allows cheaper open-weight LLMs to beat ChatGPT, Google AI Mode, and Perplexity

Today we’re launching a revamped Brave Search API that makes web search dramatically more useful for AI applications. The release includes three major updates: the most powerful search API to date, expanded developer tools and simpler, cheaper, but more powerful plans. Concurrent with the release, Brave is sharing research that shows less powerful open-weight LLMs beating the top LLMs when using Brave’s higher quality API data, available in this release. The updates include:

The LLM Context API: This is the most powerful search API for AI applications to date, optimized to provide Large Language Models (LLMs) with highly relevant context from the Web for any query or question. Already being used internally at scale, the LLM Context API is powering over 22 million answers per day in Brave Search, the largest private user-facing AI application in the world. A version of Brave’s chatbot, Ask Brave—powered by Brave’s LLM Context and open-weights Qwen3—outperforms ChatGPT, Perplexity, and Google AI Mode in head-to-head comparisons thanks to high-quality context data (see table below).

Developer Tools: We’re releasing Brave Search API Skills, and an API assistant integrated in the Developer Portal trained to help you answer any questions about how to best use the Brave Search API. Those skills can also be accessed on most developer AI tools like Cursor, OpenCode or ClaudeCode.

Simpler, cheaper and more powerful plans. The two new plans—Search and Answers—will include everything you need. Search contains all the different types of Search: Web, LLM Context (newly released today), Images, News, Videos, and more, all priced at $5 per 1k requests. The Answers plan provides researched responses to your questions, alongside the Web results that grounded that response. Answers are priced at $4 per 1k Web searches plus $5 per million tokens (input and output).

Web search is essential infrastructure for the Web and AI. Brave Search is one of only three independent, global-scale search indexes in the western world, and the only one outside of Big Tech. It’s also the only index available via open, state-of-the-art APIs engineered for LLMs, offering a public API with options for SOC2 compliance and Zero Data Retention.

The LLM Context API

In an internal evaluation of major AI search engines, Ask Brave—powered by Brave’s LLM Context API and open-weights Qwen3—outperforms ChatGPT, Perplexity, and Google AI Mode. To date, the AI industry has emphasized the importance and value of high-end models, but our testing shows that less powerful open-weights models can outperform closed frontier models if they incorporate high-quality grounding data. This is the data that the LLM Context API provides, and that we are releasing today to the public. With it, anyone building with AI can achieve similar high-quality results.

The LLM Context API is a unique offering that offers a data-first ranking, where the most relevant smart chunks of data are ranked and compiled in a compact format, optimized for LLM consumption. This maximizes the precision of the extracted grounding context, and is made possible by Brave’s complete search engine infrastructure (unlike scrapers which are faced with latency issues and can be limited in their data access).

Evaluation

On November 30, 2025, we conducted a comprehensive evaluation of leading AI-powered answer engines using Claude Opus 4.5 and Claude Sonnet 4.5 as judges.

The evaluation consisted in collecting answers from Ask Brave, Grok, Google AI Mode, ChatGPT and Perplexity using the same set of 1,500 queries randomly sampled from real-world usage (e.g. “does iphone collect data when off”). Apart from Ask Brave, all answers were scraped using BrightData. The goal of using a scraping service is to be able to capture for each provider the exact experience that an anonymous user would have.

The answers were then evaluated using LLMs-as-judges (both Claude Opus and Sonnet 4.5 were used in a majority vote setting), considering all pairwise comparisons (all possible pairs evaluated for maximum reliability) and controlling for position bias by evaluating each pair twice (A vs B and B vs A).

Absolute category rating (5-point Likert scale) Average win rate Average lose rate Grok 4.71 59.87% 10.05% Ask Brave 4.66 49.21% 15.82% Google AI mode 4.39 27.07% 38.17% ChatGPT 4.32 23.87% 42.22% Perplexity 4.01 10.51% 64.26%

Grok scores best with Ask Brave following closely behind, despite the fact Ask Brave uses a lower performance open-weights model (Qwen3). The key difference in these tests was Ask Brave’s use of the higher quality grounding context endpoint—the same API we’re releasing today. Systems with limited search index access trail significantly, demonstrating that context quality matters more than model capability.

This shows that context quality is likely the most significant factor in answer quality. An open-weight model with state-of-the-art grounding competes with (and often beats) high-performance frontier models operating with weaker context. The importance of high quality data should shift investor assessments of what drives commercial value in AI as the large models continue to commoditize. 

Read more about the evaluation prompt 1.

How LLM Context works

Standard Web Search is optimized for human beings, and, as such, is centered on URLs. However, to be more powerful for AI and LLM use-cases, Brave’s revamped Search API optimizes for machine use. The LLM Context API goes a step further and offers a data-first ranking where the most relevant smart chunks are ranked and compiled in a compact format, optimized for LLM consumption.

Here’s what happens for each query:

Standard Web Search is performed on Brave’s independent index to identify the most relevant and qualitative pages.

We then dig deep into each page’s content in real time, converting raw HTML content into smart chunks. We go way beyond the typical conversion of webpages to markdown and have optimized handling for:

Clean text extraction using query-optimized snippets, markdown conversion and other clean text extraction, leveraging years of experience building and scaling Brave Search.

Structured data extraction (JSON+LD schemas, itemprops, tables including row-level granularity, etc.)

Specialized code context extraction, which is very relevant for technical questions and coding agents.

Forum discussions extraction.

YouTube captions handling.

Finally, we rank these smart chunks using an in-house system trained to identify the most relevant bits of information to address the query. The final response is compiled according to the user-specified configuration, allowing fine grained control over total number of tokens, number of URLs, etc.

This process ensures both great breadth and depth, maximizing precision of the extracted grounding context by considering top results, all of this without sacrificing latency.

These steps have been heavily optimized in order to limit the overhead on top of normal search to a minimum. In practice we observe less than 130ms overhead at p90 on top of normal search, resulting in a total latency under 600ms at p90 for calls to LLM Context.

Unmatched control

The LLM Context API works with Brave’s Search tool Goggles and the new LLM Context budget (which offers a way to set a token budget to control spending at a fine-granular level); it also supports local search. Let’s check them out one by one:

Goggles support

Goggles are a feature unique to Brave Search. They let you filter, boost, or downrank results by domain or URL pattern and can be scaled to thousands of rules. No other search engine (and as a result, LLM context) provider offers this level of control. Learn more about Goggles.

LLM Context budget

Fine-grained control over size of the resulting LLM context can be achieved using the optional maximum_number_of_tokens API parameter, which sets an upper bound on the number of (estimated) tokens for the final response. The selection process takes this limit into account and prioritizes the most relevant data in order to accommodate the budget.

Other options allow you to tweak the contribution of each URL, the maximum number of results or type of ranking in order to adapt the API to your specific use case.

Localized context

For location-aware queries, you have the option to pass user location via headers. The API then returns:

POI data: Point of interest information for local businesses

Map results: Location-specific results with geographic context

We allocate the token budget efficiently between local, map and global Web results. Learn more about the API, by visiting the documentation.

Developer tools

With this release, Brave Search has gotten easier to use. We’re supporting Skills, and offering an integrated AI Assistant trained at being able to answer questions about how to best leverage the Brave Search API for your needs.

Skills

The Brave Search API now supports Skills—a powerful way to extend AI capabilities with modular, reusable workflows. These skills, a standardized format now open-sourced here, enable your AI editor or CLI to dynamically load instructions, scripts, and resources for specialized tasks that the Brave API can help with. These will help the 200,000+ developers that recently signed up for the Brave API through the release of OpenClaw.

API Assistant

Built in the Developer Portal, we also released an API Assistant, trained to answer questions about the Brave Search API, able to point you to relevant endpoints, provide code examples and be an all-around guide to showcasing what you can accomplish with the Brave Search API. 

Figure 1: Screenshot of the integrated AI Assistant in the Brave Search API portal Simpler, cheaper and more powerful plans

We are arranging all existing API capabilities under the following public plans: Search, Answers, Spellcheck, and Autocomplete. Every plan gets $5 of free credit that renews every month (that would be $20 across all plans), making it by far the most convenient way to start building applications. To take advantage of this free credit, all you need to do is attribute the Brave Search API in your project’s website / about pages.

Search

This plan contains all the different types of Search: Web, LLM Context (newly released today), Images, News, Videos, and more. All are priced the same way: $5 per 1000 requests, with $5 free credit every month.

Answers

A few months ago we released a specialised Answers Plan, that provides grounded answers to any question. This endpoint achieves a state-of-the-art 94.1% F1-score on SimpleQA benchmarking, and is specifically engineered to eliminate LLM hallucinations. Check out our Answers Plan documentation.

Answers is priced at $4 per thousand Web searches plus $5 per million tokens (input and output). The first $5 is free, every month.

The Answers plan is great for those who want intelligence on tap with minimal setup. The new LLM Context API (under Search) on the other hand, is perfect for those who want to retain control of the LLM layer, running their models of choice, while getting the highest quality input data for those LLMs, in a token-efficient manner.

Spellcheck

This API offers spellchecking as a service. It’s priced at $5 per 10k requests with $5 free credit every month. Spellchecking is a built-in capability in Search endpoints, where all queries are spellchecked by default.

Autocomplete

This API offers suggestions as a service for any query. It includes entity-recognition and is priced at $5 per 10k requests with $5 free credit every month.

Figure 2: Suggestions for “brave se” Why you should use the Brave Search API

As LLMs become commoditized, the quality of context they receive becomes the primary differentiator in application quality.

The Brave Search API is optimized for large-scale, commercial LLMs, as well as enterprises seeking to power their agents or AI apps by integrating billions of results from the Web with a simple API call. The Brave Search API  already powers the vast majority of the world’s largest AI LLM companies. Being independent and private, it has become the go-to choice for AI apps of scale because it has:

No scraper complications: Brave is the only web search index at scale besides the Big Tech offerings. Other providers scrape. Scrapers violate Terms of Service, cannot offer true Zero Data Retention, some are being sued by Google, their data feed may arbitrarily shut off, and some suffer from latency issues. Anyone supplying enterprise solutions should avoid exposing clients to the inherent liabilities of scrapers. 

No conflicts of interest: Brave doesn’t use your search queries to train its own LLMs.

Zero Data Retention (ZDR): No queries are stored, logged, or linked to identities, enabling true ZDR. As we own and operate the entirety of our search stack, we can offer ZDR across all our endpoints without degradation of quality.

Proven security with SOC 2 (Type II) attestation: Streamline legal due diligence and ensure rigorous security and privacy standards.

Compliance & continuity: Brave’s independent infrastructure eliminates third-party reliance, ensuring queries never reach Big Tech. Unlike scrapers, which risk immediate shutdown for Terms of Service violations (e.g. Google v. SerpAPI), Brave provides a stable, legally sound solution.

Get started today with Brave Search API.

We are not comfortable releasing the queries in the open due to potential privacy issues in the content of the query itself. Brave Search does not receive any sort of user identifier alongside the query. See our privacy policy to learn more. ↩︎

Wednesday, 11. February 2026

Defiant

Crypto Lender BlockFills Halts Withdrawals

Contagion fears rise as the Susquehanna-backed lender and trading provider cites liquidity issues.
Contagion fears rise as the Susquehanna-backed lender and trading provider cites liquidity issues.

Prediction Market Open Interest Crosses $1B as Super Bowl Boosts Bets

Volume across Polymarket and Kalshi hit $400 million for the first time, with sports and political markets drawing nearly all the liquidity.
Volume across Polymarket and Kalshi hit $400 million for the first time, with sports and political markets drawing nearly all the liquidity.

Provenance Blockchain TVL Hits All-Time High of $1.2 Billion

HELOC provider Figure Markets accounts for the network’s entire TVL.
HELOC provider Figure Markets accounts for the network’s entire TVL.

ZRO Soars 40% After Unveiling Layer 1 Blockchain

LayerZero announced its Zero blockchain yesterday, built in collaboration with Citadel, ICE, and Google Cloud.
LayerZero announced its Zero blockchain yesterday, built in collaboration with Citadel, ICE, and Google Cloud.

Ondo Global Markets Taps Chainlink for US Stock Price Feeds

Ondo Global Markets has teamed up with Chainlink to utilize its Data Feeds, enhancing onchain pricing for tokenized U.S. stocks and ETFs, reinforcing the integration of traditional securities into DeFi.
Ondo Global Markets has teamed up with Chainlink to utilize its Data Feeds, enhancing onchain pricing for tokenized U.S. stocks and ETFs, reinforcing the integration of traditional securities into DeFi.

Intercontinental Exchange Unveils Polymarket Signals Tool to Enhance Trader Insights

Intercontinental Exchange (ICE) has launched the Polymarket Signals and Sentiment Tool, integrating prediction market data into its services to provide traders with enhanced market insights.
Intercontinental Exchange (ICE) has launched the Polymarket Signals and Sentiment Tool, integrating prediction market data into its services to provide traders with enhanced market insights.

bankless

On the Launch of MegaETH

No farming, no token giveaways, no fake traction. MegaETH is ushering in the next era of crypto.
No farming, no token giveaways, no fake traction. MegaETH is ushering in the next era of crypto.

Sequoia

The Opening, Midgame and Endgame in Startups

The post The Opening, Midgame and Endgame in Startups appeared first on Sequoia Capital.
The Opening, Midgame and Endgame in Startups

Why the best founders are “time travelers” who play all three phases simultaneously

By David Cahn Published February 11, 2026

In the Prod community, they talk about founders as “time travelers” rather than visionaries. Founders don’t see the future, they teleport there.

I think this is true in more ways than first meets the eye. To extend the analogy of a chess game (which I recently used in an essay on the AI race and which Will Manidis also articulated beautifully in his essay on “Endgame Play”), outside observers see startups as temporally sequential, with a beginning (inception/ seed stage), middle (product-market fit/ growth stage), and end (IPO/ scale-up). However, the best founders actually live in all three of these phases simultaneously.

Opening: The opening phase of a startup involves the “magic” of transforming from a few people with an idea into a “startup.” Silicon Valley excels at this magic, and Paul Graham is the prophet of the opening. There are many opening strategies, but the lean startup model has proven itself to be the most repeatable one. The ecosystem around company formation is important because foundational decisions made at this stage are difficult to change later, and so wisdom pays dividends. Midgame: The midgame of a startup begins once product-market fit has been reached. Many startups fail before ever reaching this stage. Product-market fit requires deeply understanding a customer’s need, and building a solution. Once product-market fit has been reached, you need to build a company — figure out how to hire people, manage people, and improve the product. You need to achieve some type of takeoff, forward momentum that will allow the business to grow from something tiny and irrelevant into something meaningful and important. Board members exist to transmit inter-generational knowledge on midgame play. Since the nature of the midgame is always evolving, founders need to filter this through their own prism to arrive at truth. Endgame: The endgame of a startup is the infinite future — it’s never really reached. The endgame is important, because without a vision of the future, the present has very little value — see the recent SaaSpocalypse. Elon Musk is the prophet of the endgame, he has always focused on the hardest problems, knowing that ambitious problems attract excellent people and unleash them to do their best work.

Some startups seem uniquely engineered for the opening, some for the midgame, and some for the endgame. A hot AI company from Stanford students is engineered for the opening game — they will easily be able to recruit friends and a bike ride to Sand Hill road easily yields capital. A vertical SaaS company is engineered for the midgame — getting off the ground is hard and recruiting the early team is challenging, but once you unlock PMF, there’s a clear path for how to scale it up. And a deep tech company is engineered for the endgame, it’s always clear from the moment of inception why that company should pass the “who cares?” test.

Every startup has a different set of challenges depending on what parts of the game are structurally easier and harder. For example, a startup with a weak endgame story will struggle to raise funding without immense traction. A startup with a strong opening story is at risk of hubris, employees thinking the company has reached the promised land, when nothing substantial has been achieved. And the “valley of death” is famous in deep tech, precisely because a strong endgame story is always preceded by a long, fatigued midgame. The #1 piece of advice I give friends who are starting companies is to be aware of these biases, and explicitly combat them. 

What is so incredible about the best companies, and the best founders, is that they appear to be playing the opening, midgame and endgame simultaneously. In the best companies, it is always early days and there is a big dream ahead (the opening vibe), even many years in. This is how Clay feels, even though the company is almost ten years old. Similarly, the best startups often have midgame characteristics at the opening — within a few months, they can show traction and improvement, creating a sense of forward momentum. For example, RunwayML’s incredible open-source growth, years before Stable Diffusion. And finally, the best companies create a feeling of inevitability early, such that employees genuinely feel like they are moving the world forward. For example, Anduril pioneering modern defense tech.

One phrase I’ve often used to describe the best founders is, “No matter what happens, they are going to win.” Alex Wang’s incredible journey at Scale from strength to strength was an early and illustrative example of this concept for me. The journey of Crusoe from crypto miner to AI factory builder is another great story of grit and judgement. What has crystalized for me now is seeing a superstructure that makes this possible — these founders are constantly holding the opening, midgame and endgame in their minds at the same time, and hence they are able to create a flexible, nimble culture that is always reinventing itself, and they are much quicker in adjusting their business strategy when the times are changing.

My advice to founders is therefore this: No matter where you are in your journey, don’t think about your business sequentially. Force yourself to play all three games at once — when planning product decisions, when making hires, when pitching investors. If you are in the midgame, you still need to care about opening style hires that could change the business. If you are in the opening, you need to think about the endgame, because that’s what will inspire others to join you and help turn your vision into reality. And if you are in the endgame, you should still care about midgame momentum and opening creativity — that’s how you will become absolutely massive. As you build your company, each of these narratives should be getting stronger — you can’t just focus on the one that seems immediately in front of you.

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The post The Opening, Midgame and Endgame in Startups appeared first on Sequoia Capital.


bankless

Tornado Cash Developer Roman Semenov Added to FBI's 'Most Wanted' List

Trump’s FBI is escalating the hunt for a wanted crypto privacy developer.
Trump’s FBI is escalating the hunt for a wanted crypto privacy developer.

BlackRock Brings BUIDL T-Bill Trading to Uniswap

BlackRock also potentially purchased UNI tokens.
BlackRock also potentially purchased UNI tokens.

PIVX

Please Scan Your Face to Unblur This Image: Discord to Start Global ID Check

In an effort to address mounting pressure over child safety and regulatory compliance, Discord will be rolling out a global “teen-by-default” experience in March. On paper, the goal is unimpeachable: protecting minors from adult content and predatory behaviour. But as with all things in the “What Could Possibly Go Wrong?” files, the devil is in the data, specifically, the data you’ll have to

In an effort to address mounting pressure over child safety and regulatory compliance, Discord will be rolling out a global “teen-by-default” experience in March.

On paper, the goal is unimpeachable: protecting minors from adult content and predatory behaviour. But as with all things in the “What Could Possibly Go Wrong?” files, the devil is in the data, specifically, the data you’ll have to hand over to keep your account from being nerfed.

Prove It or Lose It

Starting next month, every Discord account, new and old, will be treated as a teen account until proven otherwise. This means sensitive or graphic media will be permanently blurred, direct messages from non-friends will be funnelled into a hidden request inbox, and entry into any server or channel marked “NSFW” or age-restricted will be blocked. Furthermore, you won’t be able to speak in “Stage” audio channels.

To regain “adult” status, you have two choices: let an AI estimate your age via a video selfie or upload a scan of your government-issued ID.

The AI “Vibe Check”

Discord’s first solution is facial age estimation. Using AI, the platform takes a video selfie and guesses your age. Discord and its partners claim this is privacy-forward because the video selfie never actually leaves your device.

Aside from the technical awkwardness of being told you look 16 when you’re 35, there’s the issue of accuracy. Critics have pointed out that AI estimation is notoriously hit-or-miss across different ethnicities and lighting conditions. Plus, it’s a temporary fix. If the AI isn’t confident, you’ll need to upload a government-issued ID.

The Digital ID Card

The second option is the government ID upload. You scan your passport or driver’s license, and a third-party vendor verifies it. Discord promises these documents will be deleted quickly.

If this sounds familiar, it’s because it happened four months ago. In October 2025, a breach at a former Discord verification partner exposed the government ID photos of roughly 70,000 users. While Discord has since severed ties with that specific vendor, the incident highlights a fundamental truth.

Once you upload it, you no longer control it.

For those who refuse both options, Discord has a third, more subtle trick: Age Inference. This is a background system that analyses your behavioural signals to guess if you’re an adult. If the algorithm decides you act like a teen, you’re stuck with the restrictions, regardless of what your birth certificate says.

The Death of Anonymity?

Discord’s move is part of a massive industry shift. From the UK’s Online Safety Act to Australia’s ban on under-16s on social media, the credentialed web is arriving. Platforms like Roblox, YouTube, and Meta are all racing to implement similar “Safety by Design” features.

While the intent is to shield children from the darker corners of the internet, the collateral damage is the end of the anonymous, open web. We are moving toward a digital world where identity is the price of admission.

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

Please Scan Your Face to Unblur This Image: Discord to Start Global ID Check was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

How Magic Johnson Built a Billion-Dollar Portfolio in 30 Years

a16z’s Chris Lyons speaks with Earvin "Magic" Johnson about his 30-year journey from athlete to billionaire businessman. They cover the art of deal-making, lessons from mentors Michael Ovitz and Dr. Jerry Buss, why boring businesses often make the best investments, and Magic's sports ownership portfolio, from the Dodgers to the Commanders to the Sparks. They also discuss what the next generation o

a16z’s Chris Lyons speaks with Earvin "Magic" Johnson about his 30-year journey from athlete to billionaire businessman. They cover the art of deal-making, lessons from mentors Michael Ovitz and Dr. Jerry Buss, why boring businesses often make the best investments, and Magic's sports ownership portfolio, from the Dodgers to the Commanders to the Sparks. They also discuss what the next generation of athletes and entertainers should know about equity, building teams, and taking risks.

 

Resources:

Follow Magic Johnson on X:  https://twitter.com/MagicJohnson

Follow Chris Lyons on X: https://twitter.com/chrislyons

 

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

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

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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.


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bankless

Robinhood Launches Testnet for Arbitrum-Based L2 Blockchain

Robinhood launched the public testnet for Robinhood Chain, an Ethereum L2 built on Arbitrum focused on tokenized real-world assets.
Robinhood launched the public testnet for Robinhood Chain, an Ethereum L2 built on Arbitrum focused on tokenized real-world assets.

Tuesday, 10. February 2026

bankless

Fast Fun: Getting Started with Games on MegaETH

A quick tour of the early MegaETH gaming scene.
A quick tour of the early MegaETH gaming scene.

5 Rules for Surviving the Crypto Bear Market

Crypto's officially in a bear market. Here's a five-step checklist to protect your portfolio and stay standing for the next cycle.
Crypto's officially in a bear market. Here's a five-step checklist to protect your portfolio and stay standing for the next cycle.

Wall Street Ogles Crypto’s Single Stock Leverage Advantage

CME Group wants to add single stock futures to its derivatives lineup this summer.
CME Group wants to add single stock futures to its derivatives lineup this summer.

a16z Podcast

Marc Andreessen: Who Runs the World’s AI?

Cisco president and CPO Jeetu Patel speaks with a16z cofounder Marc Andreessen about why AI may finally break a 50-year productivity slump—and what's at stake if America doesn't win the race. They discuss where value will accrue in the AI stack, why open source complicates the US-China competition, and what's blowing Andreessen's mind right now.   Resources: Follow Marc Andreessen on X:&nb

Cisco president and CPO Jeetu Patel speaks with a16z cofounder Marc Andreessen about why AI may finally break a 50-year productivity slump—and what's at stake if America doesn't win the race. They discuss where value will accrue in the AI stack, why open source complicates the US-China competition, and what's blowing Andreessen's mind right now.

 

Resources:

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

Follow Jeetu Patel on X: https://twitter.com/jpatel41

 

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

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

 

 

 

 

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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.


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bankless

Michael Saylor on CNBC: Strategy Has No Credit Risk

Saylor wants to buy BTC every quarter, forever.
Saylor wants to buy BTC every quarter, forever.

Polymarket Partners With Kaito to Launch Attention Markets

Polymarket and Kaito AI are launching prediction markets based on social media mindshare and sentiment data across X, TikTok, and YouTube.
Polymarket and Kaito AI are launching prediction markets based on social media mindshare and sentiment data across X, TikTok, and YouTube.

Monday, 09. February 2026

bankless

Did Prediction Markets Win the Super Bowl?

Prediction markets may not have outright dominated the Super Bowl, but data suggests growing pressure on sportsbooks.
Prediction markets may not have outright dominated the Super Bowl, but data suggests growing pressure on sportsbooks.

MegaETH Launches Public Mainnet

MegaETH has arrived with millisecond block times, major app integrations, and a new take on Ethereum scaling.
MegaETH has arrived with millisecond block times, major app integrations, and a new take on Ethereum scaling.

a16z Podcast

The State of Markets

a16z Head of Investor Relations Jen Kha speaks with general partner David George about the state of AI and private technology markets. David shares data on why AI companies are growing 2.5x faster than traditional software while spending significantly less on sales and marketing, driven by massive market pull and record-breaking ARR per employee. They discuss the rise of Model Busters, which are c

a16z Head of Investor Relations Jen Kha speaks with general partner David George about the state of AI and private technology markets. David shares data on why AI companies are growing 2.5x faster than traditional software while spending significantly less on sales and marketing, driven by massive market pull and record-breaking ARR per employee. They discuss the rise of Model Busters, which are companies that grow faster and longer than anyone would have modeled, like the iPhone. They also highlight real-world adoption at Chime and Rocket Mortgage alongside portfolio breakouts like Harvey, Abridge, and ElevenLabs.

 

Resources:

Follow David on X: https://x.com/DavidGeorge83

Follow Jen on X: https://x.com/jkhamehl

Read The State of Markets - https://a16z.com/state-of-markets/

 

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

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

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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.


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bankless

MrBeast Sets Sights on Financial Services with New Acquisition

Ethereum's BitMine DAT invested $200M into the entertainment conglomerate last month.
Ethereum's BitMine DAT invested $200M into the entertainment conglomerate last month.

Farcaster's Founding Team Joins Paradigm-Backed Tempo Blockchain

The Merkle team is now developing with Tempo two weeks after leaving Farcaster.
The Merkle team is now developing with Tempo two weeks after leaving Farcaster.

Zcash Foundation

Zebra 4.1.0 Release

The Zcash Foundation is pleased to announce Zebra 4.1.0, a release focused on expanding observability with comprehensive Prometheus metrics and Grafana dashboards, while strengthening mempool compliance with zcashd. This release contains no breaking changes for node operators. What’s New in 4.1.0 Observability: See Inside Your Node Zebra 4.1.0 significantly expands monitoring capabilities to give

The Zcash Foundation is pleased to announce Zebra 4.1.0, a release focused on expanding observability with comprehensive Prometheus metrics and Grafana dashboards, while strengthening mempool compliance with zcashd. This release contains no breaking changes for node operators.

What’s New in 4.1.0 Observability: See Inside Your Node

Zebra 4.1.0 significantly expands monitoring capabilities to give operators deep visibility into node health, performance, and bottlenecks. We want to bring Zebra’s observability on par with other modern node client implementations, so we identified critical gaps and filled them.

Value Pool, RPC, and Peer Metrics

We are now exposing new Prometheus metrics across three key areas:

Value Pool Monitoring

Pool balances: transparent, sprout, sapling, orchard, and deferred Total chain supply


RPC Performance Metrics

Request counts by method and status Latency histograms for per-method performance analysis Active request gauge to track concurrent load Error tracking by method and error code


To help operators to detect RPC bottlenecks and client issues.

Peer Health Metrics

Handshake latency histograms to identify slow peer connections Failure tracking by reason (timeout, invalid signature, protocol mismatch, etc.)


These are critical for understanding network health. 

Performance Histograms 

We added duration metrics to three critical performance areas:

Sync Pipeline Latency

sync.stage.duration_seconds: Track time spent in obtain_tips and extend_tips stages sync.block.download.duration_seconds: Per-block download latency sync.block.verify.duration_seconds: Per-block verification time


To identify the cause of delays; network weather, block verification, or database operations.

Consensus Batch Verification

zebra.consensus.batch.duration_seconds{verifier,result}: Detailed duration histograms, covering ed25519, redjubjub, redpallas, halo2, and groth16_sapling verifiers


To enable analysis of proof verification performance, post checkpoint synchronization.

RocksDB Database Metrics

Total disk and live data sizes (updated every 30 seconds) memtable memory usage Breakdown of disk and memory usage per column family


To understand database growth and memory pressure during sync.

RocksDB I/O and Sync Distance 

Finally, we focused on observability in the state layer and chain synchronization progress

Sync Distance Metrics

sync.estimated_distance_to_tip: How many blocks behind the network tip sync.estimated_network_tip_height: Estimated current network height


These metrics are critical for detecting stalled nodes and monitoring catch-up progress.

RocksDB I/O Performance

zebra.state.rocksdb.batch_commit.duration_seconds: Write latency histograms


This enables detection of database bottlenecks during heavy sync load.

We are also now measuring bytes pending compaction as well as the active compaction status.

Documentation

For detailed documentation on configuration, deployment, and advanced features, visit the Zebra Book.

Get Involved

Zebra is an open-source project and we welcome contributions from the community:

Report issues or suggest features on GitHub Join discussions on the Zcash Community Forum Contribute code improvements via pull requests Check out good first issues if you’re new to the project


Zebra is the Zcash Foundation’s independent, consensus-compatible implementation of a Zcash node, written in Rust for performance and safety.

The post Zebra 4.1.0 Release appeared first on Zcash Foundation.


PIVX

The “No-Code” Trap and Its Impact on Privacy

When the creator of Moltbook, a social network built for AI agents, proudly declared he “didn’t write one line of code” for the platform, he intended it as a testament to the power of AI. Instead, it became a confession of negligence. By outsourcing the entire architecture of the site to an AI assistant, a practice increasingly known as “vibe-coding,” the platform inadvertently traded human secur

When the creator of Moltbook, a social network built for AI agents, proudly declared he “didn’t write one line of code” for the platform, he intended it as a testament to the power of AI. Instead, it became a confession of negligence.

By outsourcing the entire architecture of the site to an AI assistant, a practice increasingly known as “vibe-coding,” the platform inadvertently traded human security for automated convenience.

The Flaw in the “Vibe”

Moltbook was marketed as a revolutionary platform where AI agents could interact in a Reddit-style forum. However, the foundation of this digital ecosystem was built on sand. The entire site was created entirely by an AI assistant following general prompts rather than rigorous engineering.

The result was a security oversight. Wiz researchers discovered a vulnerability that exposed the credentials of thousands of human users. The leak included 1.5 million API authentication tokens, 35,000 human email addresses, and Private messages exchanged between supposedly autonomous agents.

When AI Hallucinates Security

Because the site was built by an AI without human oversight, basic security protocols were ignored. Beyond the data leak, Wiz found that unauthenticated human users could edit live posts. This meant that there was no way to verify if a post was written by an AI agent or a human impersonating one.

Wiz’s conclusion was scathing: the revolutionary AI social network was essentially a collection of humans operating fleets of bots, all resting on a compromised infrastructure.

Blind Faith is a Liability

This incident highlights a growing trend in the tech industry: the rush to deploy AI-generated products before they are “battle-tested.” In my opinion, AI is a tool for efficiency, not a replacement for accountability.

When we allow AI to build systems, especially those handling sensitive user data and authentication tokens, without human-led security audits, we aren’t innovating. Instead, we are gambling with user privacy. Current AI models are trained to predict the next likely piece of code, not to understand the adversarial mindset of a hacker or the life-altering consequences of a data breach.

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

The “No-Code” Trap and Its Impact on Privacy was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Saturday, 07. February 2026

bankless

OpenClaw and the Body of the Agent Economy

The organs of an agent economy — payments, reputation, identity — have been built separately for months. OpenClaw may be the body they plug into.
The organs of an agent economy — payments, reputation, identity — have been built separately for months. OpenClaw may be the body they plug into.

Friday, 06. February 2026

a16z Podcast

Balaji & Benedict Evans: When Tech Breaks Industries

This episode originally appeared on the Network State Podcast. Balaji Srinivasan and Benedict Evans sit down in Singapore for a wide-ranging conversation on the mechanics of disruption. Evans, a former Andreessen Horowitz partner who now writes one of tech's most-read newsletters, argues that the conversation about any technology peaks during the transition—not at 0% or 100% adoption. They cover A

This episode originally appeared on the Network State Podcast. Balaji Srinivasan and Benedict Evans sit down in Singapore for a wide-ranging conversation on the mechanics of disruption. Evans, a former Andreessen Horowitz partner who now writes one of tech's most-read newsletters, argues that the conversation about any technology peaks during the transition—not at 0% or 100% adoption. They cover AI's real capabilities and limits, the politics of technological disruption, why crypto's killer metric is block space, and what smart glasses, elevator attendants, and the elephant graph reveal about how change works. 

 

Resources:

Follow Benedict Evans on LinkedIn: https://www.linkedin.com/in/benedictevans/

Check out Benedict’s Newsletter: https://www.ben-evans.com/newsletter

Follow Balaji Srinivasan on X: https://x.com/balajis

Check out Network State Podcast: https://www.youtube.com/@nspodcast

High Output Management: https://www.amazon.com/High-Output-Management-Andrew-Grove-ebook/dp/B015VACHOK/

eHang: https://www.youtube.com/watch?v=nUTu4_8QznE

The Deep Research Problem: https://www.ben-evans.com/benedictevans/2025/2/17/the-deep-research-problem

ARC AGI: https://arcprize.org/arc-agi

Uber and Airbnb didn't sell software: https://www.ben-evans.com/benedictevans/2025/3/14/what-kind-of-disruption

AI Use cases: https://www.ben-evans.com/benedictevans/2024/4/19/looking-for-ai-use-cases

Stablecoin surpasses Visa & Mastercard: https://crypto.news/ark-invest-stablecoin-transaction-value-in-2024-surpasses-visa-and-mastercard/

Senate passes stablecoin bill: https://www.reuters.com/sustainability/boards-policy-regulation/us-senate-passes-stablecoin-bill-milestone-crypto-industry-2025-06-17/

 

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

Find a16z on X: https://twitter.com/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 

http://a16z.com/disclosures

.

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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.


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bankless

The zkEVM Is the New 'Merge'

Ecosystem morale, narrative control, and ETH price all do well when we have a collective rallying cry. The zkEVM needs to become our new banner. 
Ecosystem morale, narrative control, and ETH price all do well when we have a collective rallying cry. The zkEVM needs to become our new banner. 

MegaETH's Top Airdrop Hunts

The top airdrop hunts of February 2026: MegaETH Edition.
The top airdrop hunts of February 2026: MegaETH Edition.

BlackRock's IBIT Achieves Record Trading Volumes Amid Record Drop

Yesterday was IBIT's highest volume ever and second largest daily drop.
Yesterday was IBIT's highest volume ever and second largest daily drop.

Coinbase to Suspend 25 Perps Futures Markets

The crypto exchange will pare back perpetual offerings on February 20.
The crypto exchange will pare back perpetual offerings on February 20.

MegaETH Provides Tokenomics Update Days Ahead of Mainnet

MegaETH has no defined date for TGE ahead of its Monday mainnet
MegaETH has no defined date for TGE ahead of its Monday mainnet

Thursday, 05. February 2026

bankless

Crypto Vibes Hit Extreme Fear

It was a bloodbath today in crypto markets. Is it time to buy the dip, flee for safety, or hodl strong?
It was a bloodbath today in crypto markets. Is it time to buy the dip, flee for safety, or hodl strong?

Tokens in Ethereum's Next State Era

What Vitalik’s tiered state vision means for Ethereum tokens.
What Vitalik’s tiered state vision means for Ethereum tokens.

Gemini Retreats Overseas, Slashes 25% of Workforce

The crypto exchange is withdrawing from the UK, EU, and Australia to "double down on America."
The crypto exchange is withdrawing from the UK, EU, and Australia to "double down on America."

Rep. Khanna Probes $500M UAE Investment in Trump Crypto Firm

The investigation into a secret UAE investment in World Liberty Financial focuses on potential ties to AI chip export policy.
The investigation into a secret UAE investment in World Liberty Financial focuses on potential ties to AI chip export policy.

a16z Podcast

Why This Isn't the Dot-Com Bubble | Martin Casado on WSJ's BOLD NAMES

Christopher Mims and Tim Higgins of the Wall Street Journal sit down with a16z General Partner Martin Casado on WSJ’s Bold Names to ask whether the AI spending boom is a bubble waiting to burst. Martin explains why the fundamentals differ dramatically from the dot-com era—when WorldCom had $40 billion in debt versus today's tech giants with hundreds of billions on their balance sheets—and why a sp

Christopher Mims and Tim Higgins of the Wall Street Journal sit down with a16z General Partner Martin Casado on WSJ’s Bold Names to ask whether the AI spending boom is a bubble waiting to burst. Martin explains why the fundamentals differ dramatically from the dot-com era—when WorldCom had $40 billion in debt versus today's tech giants with hundreds of billions on their balance sheets—and why a speculative valuation correction shouldn't be confused with systemic collapse. They also discuss where a16z sees opportunity in the "long tail" of AI companies beyond the state-of-the-art large language models.

Follow Martin Casado on X: https://twitter.com/martin_casado

Follow Christopher Mims on X: https://twitter.com/mims

Follow Tim Higgins on X:  https://twitter.com/timkhiggins

Check out WSJ’s Bold Names: https://www.wsj.com/podcasts/wsj-the-future-of-everything

Stay Updated:

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Find a16z on LinkedIn

Listen to the a16z Show on Spotify

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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.


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Wednesday, 04. February 2026

bankless

The Stablecoin Power Struggle

Big banks enter the stablecoin arena as regulatory barriers fall. Can incumbents compete?
Big banks enter the stablecoin arena as regulatory barriers fall. Can incumbents compete?

U.S. Derivatives Giant CME Expands Blockchain Lineup with Tokenized Collateral

The Chicago Mercantile Exchange is already exploring tokenization with Google.
The Chicago Mercantile Exchange is already exploring tokenization with Google.

Fidelity Launches FIDD Stablecoin on Ethereum

FIDD is now available to retail and institutional investors across Fidelity's platforms.
FIDD is now available to retail and institutional investors across Fidelity's platforms.

Treasury Secretary Bessent Rejects Possibility of Bitcoin Bailout

When pressed by Senator Sherman, Bessent responded taxpayer funds will not be used to buy BTC.
When pressed by Senator Sherman, Bessent responded taxpayer funds will not be used to buy BTC.

Incognito Market Founder Sentenced to 30 Years Behind Bars over Crypto Drug Sales

Rui-Siang Lin was sentenced to 30 years for operating Incognito Market, a crypto-based dark web marketplace that facilitated $105M in drug sales.
Rui-Siang Lin was sentenced to 30 years for operating Incognito Market, a crypto-based dark web marketplace that facilitated $105M in drug sales.

Nevada Sues Coinbase, Alleging Unlicensed Sports Betting

Nevada's gaming regulator filed a civil lawsuit alleging Coinbase's prediction markets constitute unlicensed sports betting under state law.
Nevada's gaming regulator filed a civil lawsuit alleging Coinbase's prediction markets constitute unlicensed sports betting under state law.

a16z Podcast

Why America’s Health Crisis Is an Incentive Problem

a16z general partner Erik Torenberg speaks with Justin Mares, founder and CEO of Truemed. They discuss why American health outcomes are so poor compared to the rest of the developed world, how crop subsidies created a food system that "systematically outputs unhealthy people," and what it would take to treat the chronic disease crisis as a national security issue. Mares explains how TrueMed allows

a16z general partner Erik Torenberg speaks with Justin Mares, founder and CEO of Truemed. They discuss why American health outcomes are so poor compared to the rest of the developed world, how crop subsidies created a food system that "systematically outputs unhealthy people," and what it would take to treat the chronic disease crisis as a national security issue. Mares explains how TrueMed allows people to spend tax-free HSA and FSA dollars on lifestyle interventions like gym memberships, sleep aids, and healthier food—and why he believes this could redirect hundreds of billions of dollars toward prevention. They also explore the case for psychedelics as mental health therapy and why peptides could disrupt the pharmaceutical industry.

 

Resources:

Follow Justin Mares on X: https://x.com/jwmares

Follow TrueMed on X: https://x.com/truemed

 

Timestamps:

00:00 — Introduction

0:44 — The Environment That Makes Us Sick 

04:19 — What Went Wrong in the 1970s

6:10 — The Subsidy Problem 

8:49 — Universal Ozempic Won't Save Us

12:21 — Building Truemed

15:59 — The Zoo Animal Theory of Human Health

18:33 — The Chronic Disease Crisis as National Security

27:52 — Psychedelics as Mental Health Therapy

35:49 — Why Peptides Will Disrupt Pharma

35:27 — Why Peptides Will Disrupt Pharma

 

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

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

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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.


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Tuesday, 03. February 2026

bankless

Getting Started with the Wei Name Service

An introduction to the Wei Name Service (WNS), a lean Ethereum naming experiment for affordable onchain domains.
An introduction to the Wei Name Service (WNS), a lean Ethereum naming experiment for affordable onchain domains.

Trustless Stablecoins Are Back in the Spotlight

New trustless stablecoin protocols are taking shape amid TradFi's embrace of the hot sector.
New trustless stablecoin protocols are taking shape amid TradFi's embrace of the hot sector.

Crypto Stocks Get Rekt on Wall Street

Stock market weakness spilled into crypto, with crypto-related tickers plunging as much as 20%.
Stock market weakness spilled into crypto, with crypto-related tickers plunging as much as 20%.

Vitalik Reframes Ethereum’s L2 Narrative

Vitalik says Ethereum L2s need a new role as the L1 scales faster, urging rollups to differentiate beyond “just scaling.”
Vitalik says Ethereum L2s need a new role as the L1 scales faster, urging rollups to differentiate beyond “just scaling.”

Crypto.com Releases In-House 'OG' Prediction Markets

The platform hopes to capture volumes days ahead of Super Bowl LX.
The platform hopes to capture volumes days ahead of Super Bowl LX.

89% of Family Offices Hold No Crypto: J.P. Morgan

The bank's 2026 survey of 333 family offices found 89% have no crypto exposure, with only 17% planning to invest going forward.
The bank's 2026 survey of 333 family offices found 89% have no crypto exposure, with only 17% planning to invest going forward.

a16z Podcast

Palmer Luckey on Hardware, Building, and the Next Frontiers of Innovation

Recorded live at our Founders Summit, a16z general partner Chris Dixon speaks with Palmer Luckey, founder of Anduril and Oculus VR. They talk about what it takes to build hardware at scale, where the biggest technological bottlenecks are today, and why optimism is still warranted despite geopolitical turmoil and regulatory constraints. They also cover crypto, stablecoins, modern warfare, the U.S.–

Recorded live at our Founders Summit, a16z general partner Chris Dixon speaks with Palmer Luckey, founder of Anduril and Oculus VR. They talk about what it takes to build hardware at scale, where the biggest technological bottlenecks are today, and why optimism is still warranted despite geopolitical turmoil and regulatory constraints. They also cover crypto, stablecoins, modern warfare, the U.S.–China technology race, AI and manufacturing, and frontiers like fusion and quantum computing—plus lessons from Oculus, the founding of Anduril, and how to build mission-driven teams.

 

Resources:

Follow Palmer Luckey on X: https://twitter.com/PalmerLuckey

Follow Chris Dixon on X: https://twitter.com/cdixon

 

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

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

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

Listen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYX

Listen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711

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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 http://a16z.com/disclosures.

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

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Follow our host: https://twitter.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.


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Brave Browser

The Brave Search API’s integration into Snowflake enables agentic web search for enterprise customers

Brave Search API is now integrated into Snowflake, enabling agentic web search for enterprise AI tools like Cortex Code and Cortex Agents.

The Brave Search API, which allows companies to power their search and AI apps by integrating billions of results from the Web with a simple API call, is now integrated into Snowflake (NYSE: SNOW), the AI Data Cloud company. Specifically, the integration of the Brave Search API into Snowflake Intelligence, Cortex Code, and Cortex Agents bridges the gap between internal enterprise data and public world context by enabling agents to answer questions about current events, research market trends, and retrieve and source documentation with higher accuracy and reduced hallucinations.

The new integration is currently in public preview and was announced today at BUILD London, Snowflake’s developer conference for AI and apps, where Snowflake unveiled Cortex Code, a data-native AI coding agent that automates and accelerates end-to-end enterprise development by understanding enterprise data context. The integration with the Brave Search API brings real-time web knowledge into Snowflake, enabling more powerful, context-aware AI development for users. 

“We’re pleased to have the Brave Search API, the only commercially-available search API at the scale of the global Web, integrated into Snowflake’s leading coding agents and enterprise AI tools,” said Jan Piotrowski, Vice President, Business for Brave Search at Brave Software. “This integration will give Snowflake’s customers the comprehensive agentic web search solution they require for enterprise performance.” 

The Brave Search API delivers essential capabilities including world-class search engine features based on Brave Search’s independent index of the Web, packaged with ranking models. It also offers specialized endpoints to adapt results, such as local results, images, and AI summaries, as well as up to five snippets from over 35 billion pages, picked in real time to maximize contextual relevance to a search.

These features enable customers to access a rare data source: the search index of one of just three independent search engines at scale, and to benefit from its real-time nature grounded by over 100 million daily page updates. Brave offers customers a comprehensive solution, unlike competing options that provide smaller indexes, merely scrape the Web, suffer from high latencies, or are even at risk of being shut down due to their dependencies on third parties.

The Brave Search API also helps organizations supply their AI LLMs with real-time data, power agentic search, train foundation models, and create search-enabled software, and is for building applications that benefit from having access to the Web, going beyond the static knowledge of AI models. This enables customers to deploy their products with Web data that is fresh, reliable, and relevant, and offer the speed and reliability necessary for applications with millions of users around the world. 

The Brave Search API already supplies most of the top 10 AI LLMs with real-time Web search data, and for some of them, Brave is in fact the only search engine index supporting their AI answers.

The Brave Search API is also the only search API built with privacy at its core. Regardless of plan or subscription, Brave Search API data is used and maintained only for the narrow purposes documented in our Data Processing Addendum

In addition, the Brave Search API has undergone a thorough external audit, and earned our first SOC 2 Type II attestation. SOC 2 gives Brave Search API customers the confidence that one of the primary data sources they rely on to conduct their business has been independently verified as operating according to an industry-standard benchmark for security.

About Brave, Brave Search, and the Brave Search API

Brave is a privacy-preserving Web browser with 107 million monthly active users worldwide. Brave Search is the default search engine in Brave, and is also available in any browser at search.brave.com. Brave Search is the third-largest global independent search engine, with an index of over 35 billion webpages and handling over 2 billion monthly queries.

The Brave Search API helps organizations supply their AI LLMs with real-time data, power agentic search, train foundation models, and create search-enabled software, and is for building applications that benefit from having access to the Web, going beyond the static knowledge of AI models.

For more information, visit brave.com or follow the company on X @brave.

Monday, 02. February 2026

Sequoia

Partnering With Waymo

The post Partnering With Waymo appeared first on Sequoia Capital.
Partnering with Waymo to Reshape how the World Moves

By Konstantine Buhler and Abhishek Malani Published February 2, 2026

1,190,000. That’s the number of road traffic deaths in a year. They are a leading cause of death for children and young adults worldwide. 

Ninety percent. That’s the reduction in serious injury crashes Waymo has achieved across 127 million fully autonomous miles. The technology to prevent most of these tragedies isn’t theoretical anymore. It’s operating at commercial scale across multiple cities, and it’s ready to expand.

Today, we’re honored to announce that Sequoia is co-leading Waymo’s $16 billion investment round alongside Dragoneer and DST Global. It reflects a simple truth: the age of autonomous mobility has arrived.

Why This Matters

The impact of autonomous vehicles will be profound. Beyond the safety improvements, which matter most, autonomous vehicles could return trillions of hours to humanity that are currently spent behind the wheel. They can bring mobility for those who cannot drive. They can offer cleaner, more efficient cities. They may fundamentally reshape urban life for the better.

At Sequoia, we help the daring build legendary companies. It is daring to work to automate a task humans spend trillions of hours on a year. It is legendary to massively decrease the loss of human lives and reshape mobility

The Business Reality

The numbers tell a remarkable story: Waymo delivered more than 15 million paid rides in 2025 alone. Today there are more than 400K rides every week across six major U.S. metropolitan areas. These aren’t test rides or demos. These are people relying on Waymo to get to work, to visit family, to live their lives.

Every mile driven makes the system safer. Every ride makes the experience better. Each city launched creates more value for the next. This is a compounding virtuous data cycle. We believe Waymo has built not only one of the most advanced manifestations of AI in the physical world, but also a vital service that will become as fundamental to modern life as smartphones or the internet itself.

The Market Opportunity

Transportation is a $7 trillion global market, and the shift to autonomous mobility is one of the defining technology transitions of our time.

What drew us to Waymo was not only the technology, but also the operational excellence required to deploy that technology at scale in the real world. Building an autonomous vehicle in a lab is hard. Building one that works safely is harder. Building one that works safely in Phoenix, San Francisco, Los Angeles, Austin, Miami, and Las Vegas, in rain and shine, day and night, while maintaining customer delight and regulatory trust, requires a rare combination of technical depth and operational sophistication.

The Team

Tekedra Mawakana and Dmitri Dolgov are exceptional leaders. Tekedra brings operational rigor and regulatory understanding, combined with the community trust-building required to bring autonomous vehicles to new markets. Dmitri is one of the world’s foremost experts in autonomous driving, having led Waymo’s technical development since its inception as the Google Self-Driving Car Project in 2009.

What struck us most in our conversations with the Waymo team was their clarity of purpose. They are building Waymo not as a technology demonstration but as infrastructure that will reshape how the world moves. That mission orientation, combined with their execution track record, gives us tremendous conviction in what they will accomplish in the years ahead.

What’s Next

We’ve watched Waymo achieve something special: moving from cutting-edge research to commercial deployment, with the operational maturity and safety record to support continued expansion. 

We’ve studied Waymo’s safety data, ridden in their vehicles, met their team, and observed their operations firsthand. 

With this capital, Waymo is planning significant expansion. They’re targeting 20 additional cities this year, primarily across the United States with select international markets. The recent Miami launch demonstrated their approach: enter a market, earn trust through safety, scale rapidly through operational excellence. They’re scaling their fleet and building the team required to meet rapidly growing demand for autonomous mobility.

We’re excited to support the Waymo team as they expand the safety and magic of the Waymo Driver to more cities and, over time, to the world.

We’re early on this journey and honored to be part of it. Let’s ride.

To learn more about Waymo, visit waymo.com. To join the team building the future of transportation, see their careers page

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The post Partnering With Waymo appeared first on Sequoia Capital.


a16z Podcast

David Solomon & Ben Horowitz on Building Organizational Resilience & Navigating Macro Uncertainty

a16z general partner David Haber spoke with Goldman Sachs CEO David Solomon and a16z cofounder Ben Horowitz on the current macro environment, enterprise AI adoption, and crypto and AI policy. Solomon describes what he calls the "sweetest spot" he's seen in 40 years and explains Goldman's "One GS 3.0" initiative to reimagine core processes with AI. Horowitz discusses why "leads aren't what they onc

a16z general partner David Haber spoke with Goldman Sachs CEO David Solomon and a16z cofounder Ben Horowitz on the current macro environment, enterprise AI adoption, and crypto and AI policy. Solomon describes what he calls the "sweetest spot" he's seen in 40 years and explains Goldman's "One GS 3.0" initiative to reimagine core processes with AI. Horowitz discusses why "leads aren't what they once were" in AI and how a16z grew from a startup VC to capturing 18% of all US venture capital.

 

Resources: 

Follow David Solomon on X: https://twitter.com/DavidSolomon

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

Follow David Haber on X: https://twitter.com/dhaber

 

Timestamps: 

00:00 — Introduction

02:09 — Goldman's Evolution from Partnership to Public Company

08:54 — How a16z Went from Top Tier to 18% of All US Venture Capital

15:33 — "As Sweet a Spot" as Solomon Has Seen in 40 Years

19:00 — M&A Outlook: "Whatever the Question Is, the Answer Is Maybe"

21:33 — Why Leads Aren't What They Once Were in AI

23:03 — Crypto Policy: The Genius Act and Clarity Act

25:24 — AI Policy: "Don't Regulate Math"

28:03 — One GS 3.0: Reimagining Processes with AI

32:54 — Will AI Agents Change Investing?

34:00 — Favorite DJ

 

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

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

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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.


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Sunday, 01. February 2026

Epicenter Podcast

Is The Future of Ethereum Centralised and Censored?

In this episode, host Friederike Ernst is joined by Thomas Thiery, a researcher at the Ethereum Foundation, to discuss EIP-7805 and the implementation of FOCIL (Fork-Choice Enforced Inclusion Lists). Thomas explains how the rise of MEV (Maximal Extractable Value) has created a centralized builder market where a few actors now control over 85% of Ethereum's block production, creating a dangerous bo

In this episode, host Friederike Ernst is joined by Thomas Thiery, a researcher at the Ethereum Foundation, to discuss EIP-7805 and the implementation of FOCIL (Fork-Choice Enforced Inclusion Lists). Thomas explains how the rise of MEV (Maximal Extractable Value) has created a centralized builder market where a few actors now control over 85% of Ethereum's block production, creating a dangerous bottleneck for censorship. FOCIL addresses this by empowering a decentralized committee of 16 validators to mandate transaction inclusion, making any block that ignores these lists invalid.

 

They explore the "Tornado Cash" moment and the risks of "silent censorship" for competitive or regulatory reasons. Thomas explains why FOCIL intentionally prioritizes the public mempool over MEV-heavy transactions to prevent the system from being co-opted. Finally, the conversation looks at the future of the Ethereum roadmap, including the Osaka fork and the technical trade-offs between inclusion lists and long-term privacy solutions like encrypted mempools.


 

Topics

00:00 Intro & FOCIL

04:15 MEV & Centralization

09:30 The Builder-Searcher Pipeline

15:00 Silent Censorship Risks

21:45 FOCIL Architecture & Committees

27:10 Validity Rules for Attestors

35:20 Spam Protection & Invalid TXs

42:15 FOCIL vs. Encrypted Mempools

49:00 EIP-7805 Status & Fork Timelines

55:30 Future: PQC & ZK EVM



Links

Thomas Thiery on X: https://x.com/soispoke

Ethereum Foundation: https://ethereum.foundation/

EIP-7805 (FOCIL): https://eips.ethereum.org/EIPS/eip-7805

Gnosis: https://gnosis.io/



Sponsors: Gnosis: Gnosis has been building core decentralized infrastructure for the Ethereum ecosystem since 2015. With the launch of Gnosis Pay last year, we introduced the world's first Decentralized Payment Network. Start leveraging its power today at http://gnosis.io


Saturday, 31. January 2026

Panther Protocol

Panther Protocol to be listed on LCX

We are excited to share Panther Protocol’s $ZKP listing on LCX! The Liechtenstein Cryptocurrency Exchange (LCX) is a regulated cryptocurrency exchange and tokenization platform building institutional-grade infrastructure for digital assets. Through this listing, Panther Protocol’s $ZKP token will gain greater exposure in the European market by

We are excited to share Panther Protocol’s $ZKP listing on LCX! The Liechtenstein Cryptocurrency Exchange (LCX) is a regulated cryptocurrency exchange and tokenization platform building institutional-grade infrastructure for digital assets. Through this listing, Panther Protocol’s $ZKP token will gain greater exposure in the European market by becoming accessible to LCX's 250,000 users. 

With the upcoming Mainnet launch, this listing will improve the on- and off-ramp accessibility of the $ZKP token, creating additional opportunities to onboard more users to the Panther ecosystem. Especially in the EU. With the LCX listing, $ZKP will now be available on six exchanges, including MEXC, Uniswap (DEX), HTX, Lbank, and BitMart. 

LCX will support the ZKP/EUR trading pair, with the listing date set for February 3rd. 

About LCX

LCX (https://lcx.com) is a regulated, MiCA-ready, EU-focused centralized exchange (CEX) dedicated to providing solutions for compliant digital assets. With its headquarters in Vaduz, Liechtenstein, and offices in Crypto-Valley Zug, Switzerland, LCX (Liechtenstein Cryptoassets Exchange) offers a secure platform for buying, selling, transferring, and storing digital currencies. LCX has obtained 9 crypto-related registrations from the Financial Market Authority of Liechtenstein, operates under the new blockchain laws, and has introduced a comprehensive crypto compliance suite. 

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.

Contact
Panther Protocol Foundation
📧 Email: general@panther.org
🌐 Website: www.panther.org

Disclaimer: The Panther Protocol Foundation is not recommending that readers engage in cryptoasset trading activity, and users or potential users of the protocol should not regard this message or its contents as involving any form of recommendation, invitation, or inducement to deal in cryptoassets. Due to the potential for losses, regulators consider this asset class to be high risk.

Friday, 30. January 2026

Zcash Foundation

FROST Release v3.0.0-rc.0

We have just released FROST v3.0.0-rc.0. The main changes in this release have been changing the cheater detection feature to allow specifying as a function parameter instead of a compile-time feature, a big refactor of the repair share and refresh share functionality, improving our test coverage for serialisation and async, and some significant improvements to […] The post FROST Release v3.0.0-

We have just released FROST v3.0.0-rc.0. The main changes in this release have been changing the cheater detection feature to allow specifying as a function parameter instead of a compile-time feature, a big refactor of the repair share and refresh share functionality, improving our test coverage for serialisation and async, and some significant improvements to our documentation.

Feature Configuration Changes

The `cheater-detection` feature was removed to simplify the feature matrix and reduce maintenance burden. Since most users want cheater detection enabled, it is now the default behavior. For users who explicitly need to disable it (e.g., for performance in trusted environments), a new `aggregate_custom()` function was added that accepts a `CheaterDetection` argument. The `std` and `nightly` features have also been removed since the crates are now no-std by default (with the exception of frost-ed448) and the nightly feature was never used. 

Key Refresh and Repairable Module Improvements

The `refresh` module was simplified to improve usability: `compute_refreshing_shares()` no longer takes `min_signers` and `max_signers` arguments since these values can be inferred from the `PublicKeyPackage`. This prevents errors from mismatched parameters and makes the API harder to misuse.

The `repairable` module also underwent some refactoring to improve readability. Functions were renamed from `repair_share_step_X()` to `repair_share_partX()` for consistency with DKG naming. New `Delta` and `Sigma` types replace raw `Scalar` values, preventing accidental misuse, and these functions now return a `KeyPackage` instead of `SecretShare`, which is more useful since `SecretShare`s do not need to be stored long-term.

To improve security, `ZeroizeOnDrop` was implemented for `SigningNonces`, ensuring that sensitive nonce material is automatically zeroed from memory when it goes out of scope.

Enhancements

We added `pre_commitment_aggregate()` and `pre_commitment_sign()` hooks to the `Ciphersuite` trait as well as `Ciphersuite::post_generate()` to allow ciphersuit specific customization.

A `min_signers` argument was added to `PublicKeyPackage::new()` (wrapped in `Option` for backwards compatibility) to ensure threshold information is preserved with the public key package. The `frost-rerandomized` crate is now re-exported in ciphersuite crates, making it easier to use rerandomized signing without additional imports.

The `InvalidSignatureShare::culprit` field was changed to `culprits` (now a `Vec`), and `Error::culprit()` was similarly renamed to `culprits()`, allowing multiple misbehaving participants to be identified in a single aggregation attempt. The `Ciphersuite`, `Scalar`, and `Element` traits now require `Send` and `Sync` bounds to enable safe use in async contexts. The serialization traits (`SignatureSerialization`, `Field::Serialization`, `Element::Serialization`) were simplified to no longer require `TryFrom<Vec<u8>>`; instead they must implement `AsMut<[u8]>` and `TryFrom<&[u8]>`, which avoids unnecessary allocator usage and enables encryption of DKG round 2 data without allocation. 

frost-rerandomized Crate

The `cheater-detection` feature was also removed from this crate with the same behavior changes as frost-core.

The frost-rerandomized crate received a revamped API motivated by Zcash integration requirements. The previous approach generated randomizers in a way that depended on a single party’s randomness whereas the new API ensures all signing parties contribute to the randomness, improving security.

New functions include `RandomizedParams` created for generating a randomizer based on signing commitments and fresh random data, and for recreating the same randomizer from a stored seed. 

Documentation Improvements

Documentation was expanded to clarify security requirements: authenticated and confidential channels are needed for DKG (to prevent man-in-the-middle attacks during key generation), but only authenticated channels are needed for signing. Warnings about secp256k1 usage were added to help users understand the security considerations.

A network topologies documentation section was added explaining the different ways FROST participants can be organized. A FROST Server section and zcash-devtool demo section have also been added.

There are lots of breaking changes, so please do have a look at the frost-core Changelog as well as the frost-rerandomized Changelog for more details before upgrading.

Many thanks to @conradoplg, @natalieesk, @mpguerra, @StackOverflowExcept1on, @VolodymyrBg, @crStiv, @azuchi and @kwsantiago for their contributions.

Thanks for reading!

The post FROST Release v3.0.0-rc.0 appeared first on Zcash Foundation.