Corey Frayer

I'd like to meet the brilliant financial or legal mind at Anthropic who thought this would make a great first amendment to their registration statement. I would have put it in the first draft but hey what do I know? www.washingtonpost.com/technology/2...

"People having an interest in democracy shouldn't interfere with other governments," said mildew smell in human form Matthew Yglesias. "That's what unfettered free trade is for."

re: Anthropic Day Private markets have made the story of an IPO raising capital to expand business a myth. IPOs are commonly insiders and VC firms exiting while dumping risk on retail and pensions. As with their AI products, it's not Anthropic taking huge financial risks. It's the rest of us.

Anthropic financials admittedly look better than expected leading to big cheerleading. No need to worry about the wild financial engineering and leverage foundational to industry funding that could collapse. Prospectuses famously guarantee that past performance is indicative of future results!

How can Anthropic be allowed to go public with all these crazy disclosures?! At the SEC we used to joke you can register a Ponzi scheme as long as you disclose it's a Ponzi scheme and that's barely hyperbole. Registering a security is just about full disclosure. www.sec.gov/Archives/edg...

As Nixon said, it's only legal if the President does it. www.justice.gov/opa/pr/chine...

Imagine running for governor of Indiana and campaigning on "we don't race cars in Indy!"

First, why does this guy even have opinions about DC bike lanes. Second, RAGBRAI, a seven day long ride across Iowa, is the oldest, largest, longest recreational biking event *IN THE WORLD*

Imagine if DTCC said "might break all securities settlement" and that's the closest comparison. "Might break *all* smart contracts" is the kind of stability you want in a $125 trillion dollar market. www.coindesk.com/tech/2026/10...

It is our most modestly-priced receptacle

Gillibrand's "I lost on postal banking so I pivoted to crypto" is the new "I got cancelled for sexual misconduct so I became MAGA." [I didn't know what to do with my hands so I waved them] nymag.com/intelligence...

Scoop: "More than half of the top holders listed as competing for seats at President Trump's next meme coin dinner have used cryptocurrency exchanges that prohibit U.S. customers" @gabekaminsky.bsky.social, Madeline May,Steve Reilly for @cbsnews.com

Trump dipping back into the memecoin market with another buy-your-access dinner. www.washingtonsun.com/economy/trum...

Hmmmmmmmmmmmmmm.

🚨 Remember that fancy dinner Trump hosted at his golf club for top holders of his meme coin, and Justin Sun and a bunch of other foreign investors attended? Well, he's doing it again. @jeffstein.bsky.social for @washingtonsun.com

How many CLARITY Act autopsies are we at? It's like a whole class of seventh grade biology students sharing one frog. www.coindesk.com/news-analysi...

With the caveat that there are still *a lot* of truly excellent career staff policy experts working on the Hill, this is spot on. Also - the deference to lobbyists by staff isn't just lack of expertise or due to lavish trips or gifts, it's the lure of landing an extremely high-paying lobbying gig.

Me, trying to fit in with the guys by talking about the 'big game between the Sixers and the Packers' last night.

A couple things: Anthropic isn't making a huge bet with their IPO, they're asking us to make a huge bet buying it. Securities lawyers - isn't leaking this info prior to filing a gun-jumping violation? www.reuters.com/business/fin...

A rogue superintelligent AI agent caused extinction via hackswarm in this newsletter New CFA EyeOnTech eyeontech.substack.com/p/a-rogue-su...

Brian Armstrong: CLARITY failed because the big bank cartel stepping on your necks killed it Also Brian Armstrong: Citi Expands Digital-Assets Footprint With Coinbase Partnership www.wsj.com/finance/curr...

It's like they're only competitive bidding for dad's unavailable love.

STOP ME BEFORE I KILL AGAIN!

Looking like a cyclist struck and killed in DC's Logan Circle. Terrible sign of what's to come as Trump continues his attacks on our already inadequate cycling infrastructure. www.popville.com/2026/09/deve...

The ability to wash trade your prediction market bets on crypto assets that are regularly wash traded provides liquidity, or something. www.coindesk.com/markets/2026...

Sherrod - didn't even vote on the crypto bill, crypto announces $30 million against him. Susan Collins - voted against the bill, crypto announces nothing. Crypto is a right wing movement disguised as technology.

Crypto is more a political movement than a financial one. Sherrod isn't in the Senate and didn't vote on the crypto bill but he's the target of crypto spending. Susan Collins is in the Senate and voted against the crypto bill and they aren't targeting her race. www.nytimes.com/2026/09/21/u...

First, Sherrod's going to win this seat. Second, saying crypto cost him the election is delusional. Trump beat Harris by 11% in Ohio while Moreno only beat Sherrod by 3.5%. He lost a brutal election in a red state determined at the top of the ticket. www.nytimes.com/2026/09/21/u...

Called this over a month ago. www.wsj.com/articles/how...

Back in my day, video games were 8-bit and Presidential corruption meant selling weapons to countries run by religious authoritarians to fund drug-smuggling militias on an entirely different continent. Simpler times.

New: Trump called crypto "thin air." Last year, he reported $1.4 billion in income from it. Buyers of his crypto? They're an estimated $4.7 billion underwater. I made an 8-bit game out of it— 📈 Play as Trump: you cannot lose money. 📉 Play as an investor: you cannot win.

I spent months at SEC working with crypto to help them comply with the law. Both sides of Congress criticized us for not getting a deal with them It's rewarding to watch this bill fail as Congress learns what I already knew: crypto doesn't negotiate in good faith www.coindesk.com/policy/2026/...

Remember when Brian Armstrong threw a Twitter tantrum that killed the January markup, dragging things out for months and creating more problems every week? What an own-goal.

Still a couple weeks left to try and negotiate but the sticking points seem immovable. The WH is not going to budge on ethics. Banks won't give on stablecoin yield. Fixing tribes and prediction markets costs defi industry support. Armstrong killed this with his January tantrum.

Clarity Act has just surpassed 41 NOs in the cloture vote; it will not advance to a full vote. The bill is essentially dead in the water under this Congress.

GILDED RAGE: ELON MUSK AND THE RADICALIZATION OF SILICON VALLEY will be published in paperback, with a new afterword, next Tuesday. There are also cheap hardcovers on the 'zon. www.amazon.com/Gilded-Rage-...

TODAY: The Senate is expected to take up a bill that would turbocharge Trump’s corruption. There is absolutely no good reason for any Democrat to support this legislation. Email your senators and demand that they vote NO on the CLARITY Act.

Corey Frayer (@csfrayer.bsky.social), former SEC crypto adviser on how carefully definitions were drafted to miss Trump’s actual businesses: “whoever wrote it knows Trump’s crypto businesses inside and out. And then they made sure Trump’s crypto businesses would remain outside and not in.”

Molly brings the goods on the meaningless ethics add to the Senate's crypto bill. @molly.wiki This ethics proposal is a cruel joke, it makes Trump's interests in crypto explicitly legal, and anyone who votes for it should be impeached for corruption. www.citationneeded.news/clarity-act-...

Shame on any Democrat who votes for the abominable pro-crypto CLARITY Act. Call your senators and tell them to vote NO when it comes up for a crucial procedural vote tomorrow: (202) 224-3121.

"You could fly an illegally gifted Qatari jet through the loopholes in the definition of 'issue' or 'sponsor' but the more important point is the President doesn’t even need to."

Trump wrote his own ethics rules for the Senate crypto bill. They don't do anything. eyeontech.substack.com/p/clarity-ac...

The Senate could soon vote on a bill that would turbocharge Trump’s corruption. Since the GOP only needs to peel off a handful of Democrats to pass this crypto legislation, it’s extra important for the Senate to hear from us. Send an email and demand that your senators vote NO on the CLARITY Act.

Trump is lining up his next crypto rug-pull with WLFI. (I feel like I got airdropped into a @zacheverson.com @molly.wiki collab.) www.washingtonsun.com/donald-trump...