I’m excited to announce that we’re leading the $15M seed round in @joinlegend to simplify DeFi & help bring the next 100M users onchain. While DeFi activity has grown, it has also become more complex, & remains too complicated for many people to use. Legend is pointing the way to a simpler user experience & broader adoption. Their first product is an embedded smart contract wallet that allows users to borrow, lend, or swap across chains without manual wallet connections or the risk of interacting with malicious websites. Legend’s founders @json, @hayesgm, & @mykel all worked together at DeFi pioneer Compound. Geoffrey was an inventor of the Compound protocol, and a co-founder of Compound Labs. Mykel & Jayson worked together on product and design at Compound Labs before Jayson took the reins as CEO. With their user-facing product expertise and empathy for DeFi developers, the Legend team is perfect to address the UX challenge that’s still hindering DeFi adoption. We’re delighted to support them.
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A year ago today, Read Write Own was released. So much has happened in crypto since then. The past year, I spent a lot of time traveling and speaking at events—some crypto-focused, some not. Even as crypto faced regulatory uncertainty in Washington and sustained criticism from mainstream media, I kept hearing something different from the people I met: passion and optimism. There was a clear gap between the narrative out there and what I was seeing on the ground. So, while I’m excited to see the tides turn with growing bipartisan and institutional support, I’m not entirely surprised. Crypto was never going away. At some point, the value of what blockchains enable—stablecoins, DeFi, AI systems, games, social experiences, and more—had to be recognized. We’re still far from the full vision I described in Read Write Own, but we’re moving forward. Huge thanks to all the founders, builders, and supporters who tuned out the noise and kept building. Onward.
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Crypto is advancing quickly on multiple fronts, with much more to come in 2025. I talked with @laurashin on Unchained about the recent momentum and what I'm excited about, including: 🟧 The President’s EO and the opportunity for lasting, bipartisan crypto legislation 🟧 The intersection of crypto & AI 🟧 Blockchain infra is now ready for apps to flourish 🟧 What a multichain future could look like https://open.spotify.com/episode/6LFiJDstAdNpm5MU62ok9v
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