Just to recap: Every first Friday of the month, we: 1⃣ Tally all the views you've given @coinage_media over the prior month 2⃣ Our penguin friends calculate the total $PLYBTN burn those views earned 3⃣ We throw $PLYBTN into the @solincinerator Like clockwork 🔥🔥🔥

NEW: Bitcoin's rally was sparked by the Treasury intervening in the bond market — and pressures continue to mount The macro set up, and renewed action by the Treasury, could push $BTC back above $100K before the end of the year, says @FundstratDirect @SeanMFarrell

As Hyperliquid hits yet another all-time high, we chatted with @multicoin GP @SpencerApplebau about why $HYPE is now the firm's largest position: Watch our full episode ⬇️

.@blockworksres star @AvgJoesCrypto says a slowdown for @RobinhoodCrypto after its exponential start is normal: Zooming out, "Robinhood Chain right now is operating at a level ... that the entire L2 sector has never operated at" ⬇️

Bitcoin revolutionized ownership in 2009. But as AMC and Robinhood battle over tokenized stocks, what would Satoshi say?

The Trader Who Made Millions on Robinhood Chain @AvgJoesCrypto nitter.siddz.com/i/broadcasts/1DxLdZVBN…

NEW: Coinbase announces the "Base App," formerly known as "Coinbase Wallet," is now the Coinbase Wallet. Thank you for your attention to this matter.

A lot of blood, sweat, and tears go into building a @YouTube channel Appreciate everyone who watches and shares ❤️

There has been a lot of fear about Wall Street and institutions co-opting crypto's original revolution But I loved this take from @CaitlinLong_ about why the revolution is still very much alive: We don't need liquidity. We don't need volumes. We need permissionless ownership

when you’re on a first date and they mention they are into crypto 💘

Not only did @SeanMFarrell absolutely nail the Treasury stepping in on @coinage_media last week — but listen to his explanation on why Bessent's move just sparked a leg higher for bitcoin:native ⬇️

VCs and Wall Street continue to think tokenizing “real-world assets” like stocks and bonds is the hottest opportunity in investing right now But I will die on the hill that tokenizing *entirely new assets* is the real whitespace. For example, the creator economy is booming - with Goldman Sachs predicting it will hit nearly half a trillion dollars in just a couple years. And yet, despite YouTubers making very consistent cash flows from content, independent creators don’t have great access to capital. If a YouTuber can even get access to funding, it’s usually loans or debt. But why not equity? To experiment, I became the first creator to tokenize my upside in 2023 via @trustless_media Tickets into membership to own my upside launched in 2023 at $192. They now trade in 2026 at $383 (up 100%) The launch unlocked a total of ~$500,000 for me to continue creating award-winning content. My fans are happy. I am happy. As my content attracts more ad dollars, we all win and I can produce content that isn’t slop. Annual payout for holders in ‘24: $250 Payout for ‘25: $125 Now, I would like you to contrast that experience with the nightmare that is memecoins and Hawk Tuah girl. Basically everyone lost and Hawk Tuah girl destroyed her whole shot at stardom. This is the future of creator capital markets: - Creators consistently generate the most valuable asset on the internet (attention.) - AI just sparked a categorical shift in reducing their production costs. - When the host of Call Her Daddy is raising at a $500M valuation, it seems silly to point this out, but creators are the new startup. The next Mr. Beast will be tokenized via the Tokenized Creator Offering. I know this because I was the first to see it work for me. (Even with a paltry 40,000 followers back in 2023)

As discussed on today's show, @thinkingcatRH thinks. Therefore it is.

Four years ago, I launched an experiment in media. Like all good experiments, we had a hypothesis that was built on two parts: 1⃣) That the internet is changing money. and 2⃣) That attention is money. Bitcoin had already proved the first point a decade prior — but what would this look like for attention? For whatever reason, people continue to think the answer to 2 is memecoins. (By now, I shouldn’t have to explain why they are not.) Even so, I launched the largest creator coin on Coinbase’s blockchain last year to disprove that idea once and for all myself. Instead, my thesis was that if attention is as valuable as money, independent creators are being categorically under-appreciated and under-priced. This should not come as a surprise — their true value is being captured by intermediaries. YouTube. Meta. TikTok. All of these platforms taking in billions from the work of creators while paying them pennies on the dollar. As an intermediary sitting between a creator and their fans, their algos ultimately king-make who has value and who doesn’t. They are the ultimate arbiters of attention. They are the ultimate arbiters of money. But there’s a funny thing about the relationship between a content creator and their fans. It’s one of the rare types of network businesses that grow on both sides of the equation: More eyeballs, means more attention 🔼 And a creator can charge advertisers higher prices 🔼 It’s the perfect two-sided network 🔁 So, we set out to ask: What if a creator could offer fans a way to co-own the upside in themselves and their content. If fans are already watching, why not grow alongside a creator? I pitched the co-founder of Netlfix @marcrandolph on the idea. (As far as revolutionizing media and attention goes, probably no one more qualified.) The thesis of dis-intermediating the relationship between a creator and fans clicked, and he jumped in as one of our first backers at @coinage_media I set out to offer anyone the chance to join us as an equal-part member in co-owning my show for $169. Launch day came, and after we had dropped a pretty big exclusive interview I was feeling pretty confident — and we had just grown our YouTube channel from 0 to 3,000 in a month. We launched our site, expecting a deluge of buyers. I held my breath as the sale officially opened AND! ... we sold 7 memberships. The office fell silent. I sat still in the silence, refreshing my screen. My ears started ringing. And my hands went numb. This wasn’t the way it was supposed to go lol. But then… it started to work. One member introduced me to a guest that became our best performing video. Another proposed an idea with a sponsor that became our biggest revenue driver that year. Subscribers surged past 100,000. And as we grew, more people joined the experiment. The value of the membership to co-own my show grew as well. Even though anyone could trade their ticket into membership at anytime, the price went up from $169 to $383. And we own that value together. As we’ve grown our community, we’ve been able to charge advertisers a premium. Why? Because in a sea of AI slop and bot followers, we have the community to back up what we are building. And as the show has grown, we’ve paid back distributions to those fans who took a bet on me. We've done so using stablecoins — all powered by attention. So, what have we learned? 1⃣The creator economy is ripe for disruption. 2⃣Creators are the new startup — no one is better at generating attention than them. 3⃣Fans want to own the upside in their favorite creators. 4⃣The ability to pay out stabelcoin distributions from creators and their content makes them a valuable asset. And most importantly, 5⃣There is a better, more sustainable way to tokenize creators — and we have pioneered it at @trustless_media No self respecting creator will want to re-live the sins of $TRUMP, or sell out their followers like Hawk Tuah Girl. There is down 99%, and there is up more than 100%. There is speculation, and there is ownership. There is OnlyFans. And there is community. The age of tokenizing creators and fans, sustainably, is finally here. The era of the tokenized creator offering is upon us.

Solana sponsoring WSOP is the best marketing I’ve seen in a while. Traders love poker. But it’s hilarious to me that the guy who won their influencer activation also recently admitted to pump-and-dump schemes to “take advantage” of his own followers ⬇️

THE GARY GENSLER TRAP! All of crypto is waiting, hoping, praying for CLARITY to advance this week — but can we just quickly consider the path if that doesn't happen? 1) The SEC likely deploys their Project Crypto stop-gap band-aid 2) Then there's a 80/20 shot Dems undo it all in the next admin Nobody really believes anything meaningful is coming onchain if builders need to worry about a Gary Gensler 2.0 (this, of course, is the whole reason the crypto industry is pushing for the rules proposed in CLARITY.) But I think there is a silver lining worth exploring here — and maybe it's what Gensler feared all along. (For anyone who was in crypto before the great purge of 2022, this should be fairly obvious.) Back then, the Gensler playbook was pretty clear: Go after anyone offering anything of value in crypto for unregistered security offerings. NFTs? Securities. ETH? Potentially a security. Memecoins? Basically the only thing that was allowed. lol Considering that, it's a pretty obvious reaction to see the crypto industry giants (like Coinbase, etc.) pursue a bill that will codify how this process can legally work, and finally lay out rules for when *exactly* an asset becomes a security vs. a commodity. But is that the best outcome for everything in crypto? Particularly for an industry that once prided itself on decentralization, dis-intermediation, and root ownership, it is OK to say no! After all, it was Bitcoin's original model that pioneered value accrual to a community that used a network. This value did not accrue to a VC. This value did not accrue to insiders. But to anyone who cared enough to be early and participate permissionlessly. It's been 2 years since the industry had Gensler hanging over it. In those two years, the major industry players have seemingly bent the knee to the same thinking — that anything of value in crypto must follow the security framework onchain. Does that give you something closer to the old system Bitcoin sought to destroy? Or something closer to Bitcoin? Whether CLARITY passes or not, the industry still needs to reckon with that question.

BlackRock, JPMorgan, Vanguard and more are launching a trial of tokenized securities led by the DTCC, per WSJ The trial begins with trading on HyperLedger Besu, DTCC’s private blockchain, or Canton 👀

NEW: Odds of The CLARITY Act passing this year are falling off a cliff. ~21% are the lowest since the market began 👀

I’m not saying Strategy is out of the woods yet, but some very promising numbers to show the market has digested the new signal from Saylor: - $STRC reclaiming $90 - $MSTR back above $100 a share - $BTC holding $62K (even after $216M sale) - Dividend coverage up to 17 months

Private credit continues to suffer from more redemptions as a lack of transparency triggers more panic I enjoyed chatting with @CapApp founder @Benjamin918_ to discuss what bringing private credit onchain unlocks Watch our full interview on @coinage_media ⬇️

The biggest winner in the $SPCX IPO is @HyperliquidX More than $1.2B now in trading volume today — around the same price range $HYPE had generally predicted more than a week ago @dschamis called it back on @coinage_media 3 weeks ago ⬇️