Companies will not enter crypto governance because they are curious about DAOs. If they enter at all, it will start with money movement. Stablecoin settlement, cross-border payments, treasury management, tokenized deposits, and tokenized assets are easier for mature companies to understand because they map to problems they already have: speed, cost, liquidity, compliance, and market access. That part of the story is already underway. The harder part, at least for me, is what comes after money...

Cross-chain crypto activity still asks users to make a lot of execution decisions. A simple swap can involve choosing a bridge, checking the destination asset, managing gas, approving tokens, comparing routes, and waiting for settlement. Experienced users may understand these steps, but the process still creates room for mistakes and hidden trust assumptions. Intents are one approach to simplifying that flow. Instead of asking the user to specify every step, an intent lets the user specify th...

In April, the Lazarus group, a cybersecurity organization sponsored by the North Korean government, exploited KelpDAO for about $292 million. The hacked used forged cross-chain messages to mint 116,500 unbacked rsETH and then use that asset inside DeFi lending markets. Note: rsETH, issued by Kelp DAO, is a liquid restaking token (LRT), that allows users to deposit their Ethereum staking assets (like stETH or ETHx) into EigenLayer and earn compounded yields. The exploit destabilized the DeFi i...

A question I get a lot from friends is some version of: “What do you actually do?” When I try to answer, I usually reach for an imperfect analogy: governance work in crypto is closest to a board of directors — except it’s decentralized, transparent, and governing an open-source, permissionless protocol rather than a single company. That difference matters a lot. In most crypto ecosystems, there are three distinct stakeholder groups that coexist in tension:the Corporation or Labs entity that o...