"Is this token a security?" has always been the biggest regulatory issue for crypto in the USA. The SEC's top priority should be answering that question with a safe harbor for token issuance.

One of the areas where crypto can catalyze productivity gains is within the realm of physical infrastructure. Projects in this category are often referred to as DePINs (decentralized physical infrastructure networks).

We’re excited to announce our pre-seed investment in Plastic Labs. The team has built Honcho, a plug-and-play platform that lets developers personalize any LLM app effortlessly.

gm, We're hosting a Builder Day on Tuesday, April 8 in NYC with Blockaid, Anchorage, and Spearbit — focused on best practices for securing your protocol across the full stack. It’ll be a mix of short talks, demos, and time to connect with other founders. If protocol security is on your roadmap this year, this one’s for you. Full details and registration here (approval required):Variant Builder Day: Protocol Security with Blockaid, Anchorage & Spearbit · LumaJoin Variant, Blockaid, Anchorage, ...

Good crypto x AI projects leverage the features of crypto to overcome limitations faced by AI.

What if NFTs did more than just provide provenance and prove possession? As Dan writes in this newsletter, turning agents into NFTs would also let their holders improve their digital property.

Agents have “memories” that allow them to record their experiences performing tasks for their principals. These experiences are unique, which makes them non-fungible. An NFT could represent an agent, and holding this NFT could provide exclusive read/write access to an associated memory slot in a trustless memory layer (functioning effectively as a “license” to these memories).

Our seed investment in Pluralis Research is premised on using crypto ownership to solve the resource problem of foundation AI models.

There is a particular type of coordination problem ownership via crypto is well-suited to solve: open software with a “resource problem.”

The Reserve and Stockpile are likely good for US fiscal policy and market prices, but neither are enough to make the USA the crypto capital of the world. For that, we need new policies empowering entrepreneurs to launch protocols and products made in the USA.