Clear rules for stablecoins and the road ahead At the White House today, the first piece of U.S. crypto legislation will be signed into law: the GENIUS Act. It provides clear rules for stablecoins. This is a historic moment — not just for crypto, but for the world at large. That’s because stablecoins give us something we’ve never really had before: open money infrastructure. Stablecoins are a better form of money: faster, cheaper, and more global. They cut fees and eliminate intermediaries. They are auditable and programmable. They allow developers to build new kinds of apps that weren’t possible before: low-to-no cost remittances, programmatic micropayments, AI-native transactions, transparent and disintermediated global commerce, and more. Stablecoins give the world access to the dollar, they spread financial freedom, and they ensure that the next generation of financial infrastructure is built on U.S. standards. For too long, innovators in crypto have operated under legal uncertainty. That uncertainty has stifled progress, driven builders offshore, and created a fragmented internet. The GENIUS Act reverses this: it creates clarity for stablecoins and sets us on a path toward broader crypto market structure reforms. This is how the internet moves forward: through clear rule-making. With the GENIUS Act, stablecoins have clear rules, paving the way for better payments, financial products, and an overhaul of the global financial system. Next, we need the same for the rest of the crypto market. The Senate can do this by passing the CLARITY Act, which provides clear rules of the road for the broader crypto industry, opening a path for innovators while also protecting consumers from scams and bad actors. We believe that the U.S. can lead the next era of the internet — the read-write-own era — by enabling open, user-owned protocols instead of the closed, corporate platforms that defined the last one. This legislation lays the foundation for that future. It's the beginning of a new chapter.

We’re thrilled to announce our $20M Series B to fuel XMTP’s mission: 🌐 Build the most secure, decentralized messaging protocol 🤖 Support any identity across any digital ecosystem 📡 Help fuel the next generation of messaging applications XMTP is rebuilding secure messaging from first principles: secure, decentralized, identity-native, and open for developers. Let’s build.

I’m excited to announce we’ve led a $33 million seed round in @yupp_ai, a consumer product that allows anyone to discover and compare the latest AI models for free. AI needs robust and trustworthy human data. Crypto is built to provide it. Modern AI systems are shaped not only by compute and algorithms but by human feedback. Companies use post-training techniques such as Reinforcement Learning from Human Feedback (RLHF) and Direct Preference Optimisation (DPO) to improve their models. These techniques can reduce bias and enable higher quality, more coherent responses to prompts — crucial for accelerating progress in AI. Model evaluation is similarly critical, but a model can only be made better after first deciding what “better” means. That’s where challenges arise: Companies don't like to share — they keep their data and training processes secret. As a result, model improvements are constrained by what can be learned from closed systems or static benchmarks that are rarely informed by real-world use. These constraints make AI models difficult to evaluate. Users are also left in the dark, with little insight into how their feedback shapes models or whether it’s used at all. Some leaderboards and crowdsourcing sites attempt to shed light here, but they generally don’t enable users to audit their contributions or see any direct benefit from participating. Platforms that claim to be fair and transparent often rely more on good faith than enforceable standards. We believe crypto can bring transparency and ownership to this murky area of AI. Blockchains can make it easier for people to receive rewards for their contributions. They can also provide AI builders with assurances about the quality and provenance of the feedback data and evaluations they’re incorporating into their models. So users get incentives, builders get trustworthy data, and everyone can audit either side of the open market. Yupp crowdsources model evaluation: users enter prompts, see multiple AI-generated responses side-by-side, and then pick the best ones. Their choices create digitally signed “packets” of preference data that are useful for AI post-training and evaluation. In addition to users getting access to the latest models for free, they receive rewards based on the feedback that they provide. Yupp’s design turns human judgment into a renewable economic resource. Data “expires” as newer interactions replace it, creating a natural flywheel: more usage yields fresher evaluations; fresher evaluations yield better models; better models attract more usage. All participants — from users to AI model builders — can participate and see that the same transparent rules apply to everyone, ensuring a credibly neutral marketplace. No one can hide the scoreboard, and no one can manipulate the rewards or results. The founders bring deep experience in both AI and crypto. They built consumer-scale machine learning products together in the early days of Twitter. @pankaj ran global consumer engineering for Google Pay and @Coinbase. @gilad was a machine learning lead at GoogleX. The early team already counts senior engineers from Google, Coinbase, and top research labs. AI needs strong, reliable evaluation based on large-scale human input. Crypto is the trust machine that can help deliver it. By enabling people worldwide to contribute model-improving feedback, Yupp aims to become the default evaluation layer for the future of AI. We’re proud to back Yupp and look forward to helping them build the onchain feedback loop that ensures the rewards of AI innovation are shared by everyone who helps create it.