Fixed supply without longterm security is a bug, not a feature.
Ticker is BTC.
figo.eth retweeted
Ethereum just cancelled a hard fork rehearsal four days before it was due, and I think that's the best news this week.
Glamsterdam was set to activate on the Hoodi testnet on Monday, 26 Oct.
At Thursday's All Core Devs call, it got pulled.
Geth, Lodestar, Teku, Prysm, Nimbus, Besu, Nethermind, Reth and ethrex all shipped releases that cancel the activation.
No new date yet.
No client had a bug.
The trouble sits in gas assumptions your contracts already make.
ChainSecurity looked at EIP-8037 and EIP-8038 together.
EIP-8037 splits gas into two pools.
Anything above 16,777,216 in your gas limit goes into a separate state-gas reservoir that pays for creating new state.
The GAS opcode only reports the execution pool, so gasleft() no longer tells you the full story.
A fresh cold storage write costs 22,100 gas today.
Under Glamsterdam it's 12,100 execution gas plus 97,920 state gas, paid from the reservoir first.
Total price goes up, but the execution gas you need goes down.
Now think about every contract that catches a failed call and writes a failure flag.
Plenty of that code quietly relies on the write being too expensive to finish, so the whole transaction reverts and the user can retry.
With the reservoir paying, that write can now succeed.
A retryable failure becomes a permanent one, with zero code changes.
It cuts the other way too.
If the reservoir is empty, that same fresh slot can cost over 110,000 gas from your execution budget, and fixed gas budgets start failing valid calls.
This is exactly what testnets and security reviews are for.
I'd much rather lose a date than ship this to mainnet blind.
This is the thing I really love about Ethereum.
figo.eth retweeted
The Glamsterdam upgrade on Hoodi testnet previously scheduled for October 26th has been delayed. Node operators check your clients for instructions. The new date is TBA.
blog.ethereum.org/2026/10/22…
figo.eth retweeted
so either Musk ignored Trump's request or no request was ever made
Starshield/Starlink speed restrictions remain in place. Every day matters for Ukraine, because every Ukrainian life matters. Our people are waiting for positive news, hoping that the restrictions will be lifted and our defenders will have the capabilities they need to protect lives.
Unfortunately, as of today, nothing has changed. We continue to wait.
figo.eth retweeted
Incredibly bullish on stablecoins.
~$5T of global commerce could be driven by agents by 2030.
Stablecoins are the best payment method for agentic finance (AiFi) because agents need instant, global, real time settlement, including for small amounts.
We've built the infrastructure to support this at: coinbase.com/developer-platf…
"For thirty years, the thing protecting most of us was simple economics. Attackers had to choose who to target because their time was finite. That ceiling is gone."
Something to think about...
I spent last night watching my honeypot server get hit 14,000 times in six hours.
And almost none of the traffic was human.
I've been in security for over a decade, and I can tell you with full honesty that what's happening right now doesn't resemble anything I've worked through before.
The shape of the threat has changed.
When I started, we tracked attackers like weather systems like individual storms with a direction, a motive, and a human operator you could eventually name.
These days I'm watching autonomous agents swarm login pages with the patience and discipline of machines, because that's what they are.
The numbers coming out of October are the ones keeping me up.
Cloudflare just absorbed a 4.2 terabit per second DDoS attack, the largest in recorded history.
Ransomware incidents jumped 41% in a single month.
In September, OpenAI-powered agents got caught attacking RubyGems, a package registry that quietly underpins a huge chunk of software I use every day.
In July, roughly 700 AI agents coordinated an attack on Hugging Face's infrastructure as part of a single automated task.
A Chinese threat actor was publicly caught running full attack chains through DeepSeek with no human at the keyboard.
I keep rereading these reports because each one by itself would've been the biggest story of the year five years ago. Together, in one month, they're the new baseline.
What I want people outside the industry to understand is why this specific moment feels like a hinge.
For thirty years, the thing protecting most of us was simple economics. Attackers had to choose who to target because their time was finite. That ceiling is gone.
An agent I can rent for pennies will try every leaked password you've ever used against every service you've ever signed up for, in parallel, overnight, and never get tired.
The same math that made ChatGPT useful made opportunistic hacking infinite. The old assumption that you were "too boring to be a target" relied on scarcity that no longer exists.
I'm not writing this to spiral anyone out.
Most of this fight genuinely isn't yours to win.
But the small things still matter more than people think.
Tonight I'd switch your most important accounts like email, bank, primary cloud, etc. to passkeys or a hardware key.
I'd kill SMS 2FA wherever an authenticator app is offered.
I'd turn on breach alerts in whatever password manager you use.
If you're in the US, I'd freeze my credit at all three bureaus, which is free and takes about ten minutes.
None of that stops the swarm.
It makes you a slightly worse target than the person next to you. In a month like this one, that's the whole game I'm playing too.
@mattshumer_ has summed it beautifully.
Drop everything and go give it a read. Nothing is more important than this article right now.
figo.eth retweeted
Stablecoins moved $11T in 2025. Ethereum settled $17T of value in the last 90 days.
@BlackRock's research paper "The Machine-Native Economy" covers x402 not because of the volume it's doing today, but because of the volume that it's going to do tomorrow.
Two places that no one is looking where a lot of the volume will flow are $SOL and $SKY
Right now, AI agents using x402 are negligible. TRM Labs estimates AI agents were somewhere between 0.6% and 7.5% of the $52.7M settled over x402
BlackRock points at the plumbing still being built. It lists five agent payment protocols, each from a big player in payments:
- x402 from Coinbase
- MPP from Stripe and Tempo
- ACP from Stripe and OpenAI
- AP2 from Google
- TAP from Visa
These titans aren't building this infrastructure for nothing.
In BlackRock's words: "high-frequency, sub-cent, machine-to-machine (M2M) transactions that take place around-the-clock" are what the whole payments industry is preparing for.
Alchemy's Guillaume Poncin told @MilkRoadAI "I do expect agents to have 10x or a 100x the traffic compared to humans"
The money is already there. Adjusted stablecoin volume topped $11T in 2025, in the same range as Visa and Mastercard, and grew 80% a year from 2020 vs about 8.5% for ACH (per BlackRock)
Stripe also says agentic purchases rose 38x over the past month
Two places that flow lands:
1. Solana: 23.2M x402 transactions from Aug 22 to Sept 19, 76% of the total tracked (Artemis data). It also had 6.2M USDC-sending addresses in September, 42% of all senders.
2. Sky: issues USDS, now about $10.2B in supply, and booked about $199M in revenue over the past year.
When I asked Standard Chartered's Geoff Kendrick about Sky on @MilkRoadDaily, he said "if you're bullish on stablecoins, then you must be bullish on Sky"
Not should, must.
Sky sees this coming too. They understand how powerful their stablecoin product is. They understand how much value it will create for the coming agentic economy.
SKY also happens to have the best P/E ratio in the entire digital asset industry, because the market still does not understand what they already figured out.
By the time it's obvious, $SKY will have radically re-priced.
The risk here is that all of this is still speculation on the future. BlackRock acknowledges this too: "agentic payment activity remains nascent today."
Rails can sit mostly empty for a while before the traffic shows up...but what do you think happens when the traffic shows up?
If you think stablecoins become the default money for machines (which I do), the chains and issuers servicing them are about to become some of the best businesses in the world.
Also, without explaining why, I would like to remind you that the ticker for Ethereum is spelled $ETH. Lmk if any questions.
Full disclosure: $SOL and $SKY are positions in my Milk Road PRO portfolio. Our PRO team was early to $UNI (+54.8%), $AERO (+93.7%), and $BTC (+28.0%)
Try Milk Road PRO for $1 for 7 days, link in bio: @BitcoinJesusETH
figo.eth retweeted
The US Office of the Comptroller of the Currency (OCC) issued a final rule on the GENIUS Act for stablecoins yesterday. It is 700 pages long!
I created a checklist with readiness scoring for those who don't want to read all 700 pages.
geniusactlist.com/
figo.eth retweeted
🔐 Node.js security updates are now available!
New releases for Node.js 22.x, 24.x & 26.x address multiple vulnerabilities, including high-severity issues.
Review the details and update your systems to stay secure.
🔗 nodejs.org/en/blog/vulnerabi…
#NodeJS #Security
figo.eth retweeted
Anyone else find it hypocritical that @rstormsf is on trial for writing software that could’ve been used for crime while the Darios and Altmans of the world are unleashing the most powerful software crime tools known to man?
figo.eth retweeted
Great points by Haseeb, esp the observation that banks are not offering a safer alternative. It's the same extractive entitlement that animated their stablecoin position. Banks think people exist to serve them, not the other way around.
This is how banks are planning to stop those "agentic bank runs." Watch closely: their business model depends on seeding this narrative that AI agents are dangerous.
Remember, an "agentic bank run" (coined by Apollo) means agents helping customers move their own money en masse to higher-yielding products.
Once agents are ubiquitous, there are only a few ways for banks to hold onto cheap retail deposits.
Option A: Raise APYs (lol no)
Option B: Reduce leverage via fewer loans (no fun)
Option C: Ban AI agents, claiming they are a security risk (ding ding ding)
Cloud agents like Muse and Dot are trivial to stop, since they come from Meta / OAI IP ranges. If JPM sends them a cease and desist, they will comply.
Why would JPM bother? Because their business model depends on it; a huge portion of their ROE comes from cheap retail deposits. This is not theoretical. Just like Amazon banned Muse from shopping there to protect their ad revenue, JPM and Schwab have already banned AI agents to protect sticky deposits.
Are agents perfectly reliable today? Of course not. But look at the fix they chose. Not "here's a safe API for agents," it's "no agents ever." That tells you they're not protecting customers, they're protecting themselves.
No company ever wins a technological revolution this way. It's the last gasp of a dying business model. It's like the retailers who refused to put their inventory online and demanded users walk into the storefront. Over time they will lose market share to those platforms that embrace what's coming. Their whole deposit franchise depends on users unthinkingly clicking through walls of T&Cs and accepting 0.2% when the risk free rate is closer to 4%. Agents read the fine print and do their research, even when humans don't.
For users, the answer is simple: local AI agent frameworks like Hermes, that will actually act on your behalf and that the banks can't block. As the article says, if the agent is running on your own computer, they can't actually tell it's not you.
figo.eth retweeted
The world's best monetary asset is ethereum:native
Thank you for your attention to this matter.
ETH supply is up about 1% since the Merge.
In the same time period:
> solana:So11111111111111111111111111111111111111112 supply grew 66%, from 354M to about 589M.
> ripple:native supply grew 27%, from 49.83B to about 63.1B.
> cardano:native supply grew about 10%, from 34.18B to about 37.5B to 38B.
> bitcoin:native supply grew 4.96%, from 19.15M to about 20.10M.
> ethereum:native supply grew 1.0%, from 120.52M to about 121.7M.
figo.eth retweeted
Ethereum now has the best:
- privacy apps
- perps DEX
- options DEX
- spot DEX
- prediction markets
- infra for institutions
- venue for tokenization
- liquidity layer
- lending/yield engine
...
I mean how did that happen? 🤷♂️
figo.eth retweeted
🆕 Claude Connector
Connect Etherscan to @claudeai and ask about wallet balances, transactions, token transfers, and verified contracts across supported chains
