Mike Silagadzeš”
@MikeSilagadze
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This is bad for crypto, and bad for humanity. Straight out of idiocracy.
My NEW Official Trump Meme is HERE! Itās time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to ā Have Fun!
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Meme coins are a cancer. On chain data shows that >98% of players lose money. Itās more predatory than the worst casino. How long until the meme coin āeconomyā burns through all available players? Are they going to have a positive impression of crypto after theyāre washed up?.
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I never post price predictions, but my bet is that if you got into $ETH now you'll be pretty happy by end of 2025. Bookmark this tweet.
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Cardinal sins of crypto VCs:. 1. The multiple first-meetings:.You meet with a partner or associate. The meeting goes well. They book another call with one of the other partners. The next call the partner has no idea who you are, wasnāt briefed, hasnāt read the notes, so you have.
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Most VCs in crypto are hilariously predatory. Like, comic book villain moustache twirling level of evil. The kind of shit that would get you blacklisted forever, never-work-in-this-town-again type thing, in any other industry is basically the norm in crypto. Many reasons for.
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I don't know who needs to hear this, but if you've made more than $2M you need to put it into @aave and don't fucking touch it. That's your fu money. Everything else you can gamble based your risk tolerance, but the $2M is your safety net. Too many people risking it all.
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Prediction: by the end of 2025 there will be 10+ protocols on Ethereum that generate enough revenue that they could be publicly listed companies. By the end of 2026 there will be 100+. This is the bull case for Ethereum.
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For the longest time, I couldnāt figure out why the f he keeps saying this, because itās so obviously disingenuous. Then it occurred to me: because itās a threat to his $SOL bags. If Coinbase had chosen to build on Solana he would be shilling it endlessly (like when FTX did).
Future of Ethereum is Coinbase.
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The @ether_fi account has been suspended, along with @RenzoProtocol and @wormholecrypto and I assume others. Really glad we pay $1000/month for a verified org subscription so that we can submit an anonymous appeal form and have no phone number or email support of any kind āļø.
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@notlouisck The government doesn't print Bitcoin and doesn't inflate away your savings at a rate of 2-20% per year.
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I donāt think @ether_fi gets enough credit for running the best airdrop of this cycle. The team just knows how to execute. Weāre experienced founders who have run real businesses at scale. When in doubt, bet on the team that ships. Even season 3, which.
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The best trade is to just buy $ETH and do nothing for the next 10 years. Stake it if you're feeling adventurous. Your odds of being able to outperform that with active trading are very low.
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Dear sybils, plz make more of an effort at least. >10k claimers and >1.5M $ETHFI saved from dirty sybils. All they had to do was just claim their base allocation and they would have been fine, but instead they went for the top up and got rekt.
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Solana echo chamber in shambles as ETH FUD offensive falls apart. Endless cope posts from all the usual suspects. Hilarious.
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Around 2am last night I noticed something strange with our @ether_fi account. I logged in and quickly changed our password, forced logout from all active sessions, and started poking around the account settings. I saw that the email address had been removed from the account, so.
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The problem with crypto is that the highest profile VCs are predatory and nihilistic. They invest based on narrative with zero regard for actual value creation. I recall a meeting during our series A raise. I asked āI thought you guys donāt buy into Ethereum or restaking?ā The.
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Honestly the healthiest growth chart in all of DeFi is @ether_fi . Unbothered, moisturized, happy, in our lane, focused, flourishing.
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Outside of crypto conferences, how often do you run into normal people who use DeFi?. Basically never. I think there are sub 1 million real DeFi users out there, with about 5k people who own basically all the assets. The only mandate is to get more real users. Otherwise weāre.
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.@ether_fi is the number two staked asset in crypto now, second only to Lido. Bigger than Coinbase cbETH, Binance WBETH, rETH etc. Growing at 2-5% per day.
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User casually withdrawing $130m from @ether_fi . I hate losing deposits, but gotta admit Iām pretty damn proud to have this kind of liquidity available šŖ. Didnāt even make a dent, everything running smoothly.
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Honored to be among other giants this week in this very serious industry. Fundamentals szn $ETHFI š„²
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Honestly, donating 1% of tokens to @ProtocolGuild was a super easy decision. Supporting the team that is making Ethereum better is an obviously correct decision and is in my (and everyone elseās) long term self-interest. The reason Iām working on @ether_fi is because I believe.
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$SOL being in the same bucket as $XRP and $ADA seems appropriate.
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Reminder that the reason he keeps saying this is because it's a threat to his >$B in hedge fund fees on his $SOL bags. Coinbase (and Kraken and Bybit and OKX and Sony) are all building on Ethereum. They're doing this because Ethereum is credibly decentralized. Gaslighting mfer.
future of ethereum is coinbase.
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This is so bullish. Feels like the Ethereum sleeping giant has been awakened. So many exciting things are in progress. The market hasnāt priced this in yet.
A bit more on the reasons for my EIP to scale Ethereum L1 100x over 4 years:.
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It's really really hard to get an airdrop right. You need to nail about 100 different things. It's one of the most stressful things a team can go through. So have some empathy, give the teams space to figure things out.
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All the stuff we promised would melt faces in Q1 2025 is going to happen in Q2. Starting with the @ether_fi Cash launch for retail and corporate. Cash is going parabolic. By end of year weāll be the largest crypto payments platform. Bookmark this tweet.
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Month after month @ether_fi continues hitting ATH revenue and TVL numbers. I genuinely think we can 10x these numbers in 2025. We're just getting started.
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This is the actual slide from our @ether_fi seed round in March 2023. The only thing we got wrong was that our revenue run-rate is $45m today, not $25m. Might be the first time a seed pitch deck actually ended up being conservative
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Casually hitting ATH in $ETH TVL @ether_fi . No narratives or ponzi games, just solid consistent execution by the team.
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This is what product market fit looks like. This is literally the only thing that motivates me to build - seeing people use @ether_fi products in real-life and get value out of them. Fundamentals szn.
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Please stop using that picture of me what is even that??.
Restaking protocol @ether_fi has soared to record highs in terms of deposits and total value locked (TVL) as investors anticipate the approval of a spot ether exchange-traded fund (ETF) in the U.S. By @oknightcrypto.
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I donāt often leak alpha, but some of the stuff we have planned for @ether_fi Q1 is going to melt faces.
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Listening to crypto podcasts is depressing. Complete absence of operating chops in crypto. No understanding of what actual mass adoption of a consumer product takes (or looks like.). We might be in for another 10 years of meme coin trading.
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We had so little faith in ourselves that we didn't even implement the B on the front-end in case we hit a billion TVL
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Based on the $ETHFI buyback amount last week the effective APR would have been >120%, but we're capping at 35% so we can smooth it out over time. So that 35% is likely sustainable for a while, depending on how much $ETHFI continues to be staked.
This week 137 ETH ($320k) was used to buy 437k $ETHFI . Moving forward $ETHFI buybacks will be done weekly using withdrawal fee revenue, and monthly using all other protocol revenue. 100% of $ETHFI purchased will be remitted to staked $ETHFI holders. Fundamentals szn is coming.
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The @ether_fi TVL of the wallets on the waitlist for the Cash card is over $1B. My bold prediction is that by end of 2025 the partnership with @Scroll_ZKP will make it the #1 L2 by TVL. Bet on teams that ship.
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This is what product market fit looks like. Fundamentals szn.
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The @ether_fi numbers are wildly wrong and itās frustrating because we shared our concerns in advance with @gauntlet_xyz before this was published. 1. The number of holders doesnāt include $eETH holders, which undercounts our LRT users by 4x. Would you only count $wstETH for.
1/ Our LRT Risk Dashboard is live! š. Today, we're thrilled to release this dashboard as part of our partnership with the Eigen Foundation. It aims to provide LRT holders with insight into each LRT's potential market risks. Check it out belowš
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As you all know I don't like to exaggerate, so I literally mean it when I say that every single person in crypto is now an investor in @ether_fi . Needless to say it was super fun chasing 95 signatures for this round, would recommend š.
Weāve raised $27M led by @Bullish and @coinfund_io!. Crypto is back baby!. We had a huge number of amazing investors participate in this round and now have 95+ investors backing @ambergroup_io.@BanklessVC.@OKX_Ventures.@Consensys.@SeliniCapital
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Going to write a post-mortem on the token launch. So many lessons learned. Over a 7/10, could have done things so much better, but not bad overall.
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Understand what has happened. The president elect has launched a gambling instrument THAT HE CONTROLS (80% of supply.). He now has the ability to take an unlimited rake by selling, which evidence suggests his team has already done. Anyone not disgusted by this is amoral.
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Just seeing this graph now. The @ether_fi depositor base is quite diverse, which is a competitive advantage I think. ht @intotheblock
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One of the most fun parts about the @ether_fi ride has been building products that I want to exist. I can't wait to use Cash!.
šµ Introducing Cash!. SAVE, INVEST, and SPEND on Ā . Read more on our blog - Quick hits:Ā . ā
Cash is a mobile wallet and Visa credit card, that will let you be able to spend on
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Any @solana people want to pipe up and call out the cancerous shit going on at @pumpdotfun ?. Or is this what winning looks like to you?.
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Growth of $eBTC on @ether_fi continues to be parabolic. is your one stop shop for staking, earning and using your crypto. Vertical integration ftw.
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Ethics is important. I want my kids to be able to look back at their dad and see that in a sea of grey he was one of the good guys. Itās so easy to compromise for a quick win, or to justify some nefarious means for a supposedly good end. It never works out.
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Enough with the gambly bullshit. It's time to build. Products for real people.
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I donāt know who needs to hear this, but raising too much money at too high a valuation is basically a death sentence.
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Shipping a new product, staked liquid $EIGEN . Just an average Tuesday at @ether_fi.
š„ Introducing, eEIGEN which allows you to restake your $EIGEN on . ā
Restaked EIGEN earns restaking yield and additional restaking rewards, paid out in LRT^2. eEIGEN also earns and @veda_labs points. Stake your EIGEN at
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Flew up to Austin from Cayman for @consensus2024 last week. Beautiful night landing in Miami for a fuel stop on the way there
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Scaling ethereum L1 wonāt fix Ethereum. The problem is that EVM developers are overwhelmingly building on Base. The future of Ethereum is Coinbase.
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The future of crypto is in consumer apps. We need to stop it with the infra fetish and build things normal people can use.
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Growth continues to be strong. I think weāll blow away our targets for this year. Still coming soon:.- Travel rewards with +5% cashback. - $ETHFI staking for higher membership tiers. - Fiat on/off ramp for USD and EUR. - Native token swaps the vault.
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Flying is one of my very favourite things in the world. Excuse the brief departure from crypto nonsense for a personal threadā¦. š§µš
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People don't appreciate the power of the L2 scaling roadmap for Ethereum from a business standpoint. There will be dozens of major consumer platforms each with tens of millions of users using the full power of their BD teams to promote their L2s, and thus Ethereum. The $ETH.
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Weāre entering a quiet period of building and accumulation before the big moves happen. By next year there will be protocols doing >$500M in revenue. The market can ignore a lot of things, but it canāt ignore free cash flows.
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We've started posting all tweets from @ether_fi with replies only enabled for accounts we follow. Congratulations scammers, you won.
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Just saw this monstrosity on Pendle. It's beautiful. It's the most degen thing I've ever seen and it brings a tear to my eye š„¹. First you take the ETH and you put it into etherfi and turn it into eETH so it's restaked, then you take that and put it into Pendle and turn it into a
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Every serious protocol is now panicking trying to figure out how to mitigate this kind of attack. This is terrifying. The most sophisticated hack Iāve seen yet.
On October 16, 2024, Radiant Capital experienced a highly sophisticated security breach that resulted in the loss of $50 million USD. The attackers exploited multiple developers' hardware wallets through a highly advanced malware injection. The devices were compromised in such a.
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Check out the @ether_fi Farcaster account It doesnāt get randomly suspended and it doesnāt even cost us $1000/month!. BUT we donāt get a gold star āļø . Sad.
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This is what customer obsession looks like. The whole team gets a DAILY customer experience report that summarizes top issues and community sentiment. Everything we do is focused on making great products for our users.
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Looking forward to our first $1m buy week.
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One of the side effects of building things is perpetually living in the future. I've seen the future, and I don't think people have any idea how big is going to get. This is going to be a $10B rev business that just pops into existence out of nowhere.
EtherFi's cash card product is going parabolic & I think it will continue to do so. The thesis is simple:. Crypto people are far wealthier than most, they want to spend their money without dealing with CEXs & offramps, and they want to borrow against their crypto to do so.
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Epic.
Two. Million. ETH. Humbled. Thanks to our community for all the support! . Just getting started š
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If there was an index of DeFi tokens of projects that are cash-flow positive I bet it would outperform basically anything else over the next 12 months.
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In case you missed it $eETH is the largest restaking asset by a good margin.
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Over the long term (5+ year time horizon) this is all that matters.
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The @ether_fi Cash card + wallet is live! We opened access to a small number of beta users. If you want to try it out please reply below and I'll dm you an access code. The numbers are still tiny, so it's a bit embarrassing to be posting this dash, but.
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We ran 80,000 simulations and @ether_fi became the largest protocol in DeFi in all of them. Every. Single. One.
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The long term bull case for Ethereum is 100s of large business with billions in exogenous revenue built on it. Thatās it. If thatās happens, the ecosystem prospers. @ether_fi is one such business. There are a few others. We need more, many more.
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Before @ether_fi when Iād see posts about a projectās token action Iād think: āI bet those insiders on the team know whatās upā. Now I can tell you categorically that we have no f*cking idea. And itās super weird to see random crazy people posting conspiracy theories about it.
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Lots of speculation out there about LRT gov token launches and community distribution. More detail tomorrow, but if you think about the role that Pendle markets play then there is really only one option. Anything else ends up rugging a huge number of users.
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The reality of meme coin trading is that there are a small number of insiders and quant traders that are front running you and making essentially all the profits. If you're not sure if you're an insider, then you are not. You're exit liquidity.
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Just had a thought about why this is powerful, especially in crypto. In DeFi there are no GAAP standards. So most protocols lie. Protocols report bullshit revenue numbers, where they collect x $ and and then immediately pay out 2x $, as COGS to feed the ponzi. It's a sanity.
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I love the crypto space. For me itās the wild west vibes. The frontier where anyone can plant their flag and try out some crazy idea. I love the volatility, the chaos. Pure unbridled capitalism.
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There is a VERY real chance that we'll hit 690,420 ETH staked around TGE. CT community, we need to manifest this.
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Someone depositing about 500 ETH by doing individual 1 + Īµ ETH deposits. The slightly random time intervals and size variations is what really sells it š. The nice thing about sybils is that they usually are this transparently obvious. Bro season 2 is linear, donāt waste gas
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Weekly buybacks starting tomorrow. Fundamentals szn is coming.
Itās fundamental szn bitches. Fuck your no client, no revenue shitcoins. Give me that cash money in the form of buy back and burn. $ETHF = the Amex of #crypto
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This is going to be epic, come hear about the roadmap, projections, and updated $ETHFI tokenomics. We're going to be hosting these monthly for folks that want to keep tabs on the business of We're going to professionalize this space. Fundamentals szn!.
āļøThe first Analyst call will be this Monday, April 28 at 4p UTC. Format is a 30 minute presentation, then Q&A from audience. šļøRegister here:
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The number of scam accounts is staggering. We use @DoppelHQ for reporting, and we try to report scams ourselves, but itās just too easy to make new scam accounts. Letās try this: Iāll personally put up a $100k bounty for getting one of these scammers arrested and jailed.
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Timeline is so bearish that Iām starting to feel bullish again.
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Is there an LRT peg/de-peg dune dashboard out there?. Would love to see a list of LRTs with the peg status and on-chain liquidity depth (e.g. $ swap available up to 2% slippage). Would pay $ for this!.
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The Bybit hack was a moment of redemption for Ethereum. The DAO hack fork was the original sin. A state could now legitimately consider using Ethereum as a national settlement layer. Not a chance they could seriously consider Solana or any other smart contract platform.
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@KyleSamani I think youāre saying it to incite a feud between the Ethereum community and Coinbase so that they shoot themselves in the foot instead of taking it for the blessing that it is. Otherwise why keep repeating it? To what end? Itās clearly meant to be a pejorative. With L2s, as.
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The @ether_fi pool on @pendle_fi is now the largest one at >$25M, bigger than the stETH @LidoFinance pool, with no signs of slowing down. How wild is that?
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One of the problems with being first to do things is that others can clone what youāre doing and avoid the mistakes you had to make getting there.
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