"You can't have a truly capitalist system if the most important tool used to coordinate economic activity is centrally controlled." @MartyBent & @Matthew Mezinskis on why the income inequality blame is pointed at the wrong system, and why Bitcoin fixes it.

"Bitcoin and the stock market are on a collision course. In 10-15 years, they'll cross, and everyone will have to choose between chasing fiat or going back to the castle." @Matthew Mezinskis breaks down Bitcoin's power trend vs exponential growth.

The CLARITY Act quietly included federal protection for self-custody, your bitcoin can't be deemed "abandoned" just because it's sitting on-chain.

The Fed has quietly added ~$290 billion in Treasury bills to its balance sheet since December. That's the fastest T-bill accumulation since the COVID panic buying of 2020.

Frieberg's Netscape/Apache analogy, if the internet had been locked behind proprietary gates, it never would have taken off. Open-source AI means value diffuses to a million businesses instead of two or three companies.

Anthropic pirated 7 million books from LibGen to train Claude and maintains the right to train on all the world's output under fair use. But when Chinese companies look at their model's outputs, suddenly it's IP theft. Sacks: "They themselves never claimed it was IP theft because they know it would poison all of their fair use lawsuits."

"If you really care about distillation, you implement KYC." Chamath on Anthropic pushing the government to restrict open-source competitors.

India ordered GitHub to remove BitChat repositories within three hours. The government's argument: the app's offline, decentralized Bluetooth messaging lets protesters communicate during internet shutdowns, making "lawful interception" difficult. BitChat downloads in India jumped 32x on July 19 after authorities began restricting internet access around the student-led protests in New Delhi. India now accounts for 85% of global downloads, with over 91,000 installs in five days and 330,000 daily active users. The Indian government isn't targeting specific illegal content. They're targeting the architecture itself, the fact that BitChat works without central servers and can't be shut off by flipping a switch. As the Internet Freedom Foundation pointed out, "deleting a repository does not delete the application from any phone that carries it, and the mesh keeps functioning without servers. What the takedown actually prevents is scrutiny of the underlying code." This is the Samourai Wallet playbook applied to communication. Prosecute the tool because you can't control the protocol. Open source, peer-to-peer, no servers. That's why they're scared of it.

Fidelity, with $7.1T in assets, urges the Senate to pass the Clarity Act for clear digital asset rules.

"We don't live in a truly capitalist society when the most important tool in a capitalist society, money, is centralized." @MartyBent on why Gen Z's anger is aimed at the wrong target. We don't have late-stage capitalism. We have socialism light.

Elon Musk announces that next month every line of code for the X platform will be open-sourced and third-party audited. “Only total transparency deserves trust.”

Anthropic releases Claude Opus 5, stating the model approaches Fable 5 performance at half the price.

"They created the perpetual future contract, never got hacked, never lost user funds, and may have saved Bitcoin from going to zero on March 12, 2020." BitMEX is shutting down September 23rd. @MartyBent and (ODELLXYZ) pour one out. End of an era.

Sen. Dave McCormick on FOX urges action on the Clarity Act: “The bottom line is it’s time to move… there’s been negotiations around ethics language… we need to get this to the floor and vote on it… I think this is the time to play offense.”

DeepSeek's founder leaked a 4-hour investor meeting and the strategy is almost comically simple: build the best model, open-source it, price APIs at cost recovery, and let others build the applications. Meanwhile Altman and Amodei preach openness and safety while racing to control the model, the interface, the enterprise deal, the consumer account, and the policy moat. One side is trying to own the entire intelligence supply chain before the window closes. The other is acting like the work matters more than winning every adjacent market today. Scarcity breeds efficiency. DeepSeek had limited chips so they engineered around it. American labs had unlimited capital so they spent around waste. Guess which approach compounds better. Low time preference wins again. Bitcoiners know this.

Jensen Huang published an open letter co-signed by Meta, Microsoft, IBM, Palantir, a16z, Y Combinator, and 20+ other companies arguing that open-weight AI models are essential to American competitiveness and security. Huang writes that "AI leadership will be judged not by one frontier AI model, but by whether the United States builds a strong, open ecosystem that diffuses into every sector." He argues open weights let "anyone download, inspect, modify, and run on their own infrastructure" and that "America wins the AI era by diffusing it into the workflows of factories, hospitals, farms, classrooms, and main street businesses." On safety, Huang makes the case that closed models are actually the risk: "Concentrating advanced AI capabilities behind a small number of closed models compounds that risk. It results in a small number of single points of failure, weakens competition, and leaves critical technology in the hands of a few providers." The letter calls on policymakers to avoid "premature restrictions on open models that stifle competition or drive innovation overseas."

The Fraternal Order of Police, the largest law enforcement organization in the country with 382,000 members, now officially endorses the CLARITY Act, a complete reversal from two months ago when they "strongly opposed" the bill's developer safe harbor provision. The updated draft added a dedicated law enforcement section with increased funding for state and local crypto investigations, blockchain analytics tools, training programs for cops and prosecutors, a new "cyber center," and a requirement for stablecoin issuers to comply with lawful orders to freeze, seize, burn, or reissue tokens. The BRCA developer safe harbor reportedly survived intact. But the trade-off was handing law enforcement a funded surveillance upgrade that didn't exist before this bill. Worth watching what "blockchain analytics tools" and "cyber center" look like in practice.

France's 10-year yield just hit 4.01%. The highest since the Global Financial Crisis.

Freedom tech is becoming American foreign policy. Matthew Boyer is now embedded in the (StateDept) through a new Freedom Tech Excellence Program, bringing encryption, open monetary networks, and privacy tools into the diplomatic toolkit. These are the tools that protect dissidents, journalists, and citizens under authoritarian regimes. The fact that they're being formally recognized at the State Department level is a massive shift. Freedom Tech DC summit in Washington, September 22-23.

The US and UK AI safety institutes just published a joint evaluation of Kimi K3's cyber capabilities, and Commerce Secretary Howard Lutnick is using it to declare American AI dominance. The assessment, conducted by the UK's AI Security Institute and the US Center for AI Standards and Innovation (CAISI) at NIST, tested Moonshot AI's Kimi K3 on exploit development and simulated network attacks. The findings: Kimi K3 scored 32% on Carnegie Mellon's ExploitBench, compared to leading US models which achieved arbitrary code execution on 20 out of 41 tasks. Kimi K3 achieved it on zero. On a 32-step simulated corporate network attack called "The Last Ones," Kimi K3 reached step 17 on average. The most capable US models reached step 28.5. In one of 10 attempts, Kimi K3 did complete the full attack path, meaning it can autonomously attack small, weakly defended systems when given initial access. Lutnick posted: "CAISI's latest report shows that Kimi K3 remains behind America's leading frontier AI models. The United States continues to lead in frontier AI because we're home to the greatest innovators and technologists the world has ever seen." Worth noting, Kimi K3 still outperforms GLM-5.2, the most cyber-capable open-weight model as of June 2026. And the NIST report is careful to note its evaluation was "preliminary" and based on a limited set of benchmarks. The gap is real, but the framing as a clean US victory leaves out that Kimi K3 was released just days ago and is set to go open-weight on July 27.