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Why Most Cryptocurrencies Won’t Accrue Value
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15 September
Software engineer, Wikipedia editor and crypto critic; writes Citation Needed and runs Web3 is Going Just Great.
The Clarity Act cloture vote has failed by a 49–50 margin; well short of the 60 votes needed. No Democrats crossed over to vote for the bill, and three Republicans voted against. Senator Collins’ (R-ME) NO vote on Clarity was the most surprising today. She was defending the bill to constituents as recently as last week. My guess is she did not believe the bill had a chance to pass, and was more worried about defending a yes vote as her re-election prospects look slimmer. #crypto #cryptocurrency #USpol #USpolitics crypto Related
14 September
Software engineer, Wikipedia editor and crypto critic; writes Citation Needed and runs Web3 is Going Just Great.
Newsletter: The supposedly “unprecedented” ethics restrictions in the industry-written Clarity Act exempt Trump’s crypto businesses and leave enforcement to his loyalists. Senators must vote no on cloture tomorrow. https://www.citationneeded.news/clarity-act-ethics-charade/ #crypto #cryptocurrency #USpol #USpolitics #ClarityAct #CitationNeededNewsletter crypto Related
31 August
Software engineer, Wikipedia editor and crypto critic; writes Citation Needed and runs Web3 is Going Just Great.
Newsletter: The SEC’s “Reg Crypto” aims to carve out exemptions, the CFTC wields emergency powers to shield prediction markets from state regulators, and a Trump family crypto firm gets a bank charter. https://www.citationneeded.news/issue-109/ #crypto #cryptocurrency #USpol #USpolitics crypto Related
29 August
Software engineer, Wikipedia editor and crypto critic; writes Citation Needed and runs Web3 is Going Just Great.
A bit rich for Senator Bernie Moreno — by far the #1 beneficiary of crypto super PAC spending in 2024, now a champion of the industry's legislation — to accuse anyone of caping for special interest super PACs #crypto #cryptocurrency #USpol #USpolitics crypto Related
11 August
Software engineer, Wikipedia editor and crypto critic; writes Citation Needed and runs Web3 is Going Just Great.
Spotted in Coinbase’s most recent 10-Q: Coinbase has stopped using trading volume as a key metric, which is I’m sure completely unrelated to the 38%/48% decrease in spot trading volume they reported over the past three/six months #Coinbase #crypto #cryptocurrency crypto Related
27 July
Software engineer, Wikipedia editor and crypto critic; writes Citation Needed and runs Web3 is Going Just Great.
17 July
General partner at Andreessen Horowitz from 2013 to 2018 and CTO of Coinbase from 2018 to 2019; co-founder of Counsyl and Earn.com. Wrote The Network State (2022), free in full at thenetworkstate.com, and founded the Network School.
I don’t usually post DMs, but this is a rare exception as I actually asked him before doing so and he consented. Danial is a local Malaysian. Several months ago he asked “Would be cool if you could repost our current portfolio of projects as well, under KD Labs 👀”. I invited him to the Network School campus, as I do many Malaysian builders. He also said he wanted to build a virtual campus for Malaysians, a similar vision to me regarding a network state. Of course, I support him in that vision! And of course it shows that the concept of the network state, like the concept of cryptocurrency, h… Quoting @masterofnone The Network School (@ns) drama is all over the Internet What's really happening? I'm Malaysian & Irish ~ born and raised in London. Recently moved back to 🇲🇾 for good. My plan? To help build Malaysia's AI Builders Hub (@KrackedDevs) ~ upskilling our people, pulling Malaysian builders together, an… Related
1 January
Long-time Debian developer and free-software maintainer (remctl, INN, pam-krb5) who has published book reviews on his personal site since the 1990s.
Their words
I didn't read much non-fiction this year, but the best of what I did read was Zeke Faux's Number Go Up about the cryptocurrency bubble. This book will not change anyone's mind, but it's a readable and entertaining summary of some of the more obvious cryptocurrency scams. I also had enough quibbles with it to write an extended review, which is a compliment of sorts.
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eyrie.org
17 September 2025
Freelance research analyst and writer of the blog Aceso Under Glass, known for 'epistemic spot checks' of non-fiction claims.
FTX, Golden Geese, and The Widow’s Mite From 2019 to 2022, the cryptocurrency exchange FTX stole 8-10 billion dollars from customers. In summer 2022, FTX’s charitable arm gave me two grants totaling $33,000. By the time the theft was revealed in November 2022…
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