Rewiring Wall Street with Ethereum as General Counsel @etherealize_io. Previously at @Coinbase & DOJ, Law Professor @Ndlaw.
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Great article on “adverse ordering” - a feature of every market since the dawn of time. Blockchains just make the positions of privilege transparent.
I've been loudly pushing back on the corp-chain FUD that MEV makes permissionless networks un-useable for traditional fin'l tx's. My article in @traders_tweets today lays out the full rebuttal. Open networks have won out every time; they'll win again now.
tradersmagazine.com/flashbac…
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Molly is an amazing legal leader and it’s so cool that she’s stepping into this role.
Congrats @mollyisonchain!
@mollyisonchain will take over to lead our legal efforts as Coinbase’s new General Counsel. Molly has been in the trenches with me on our most important legal battles for 5+ years. Molly is a warrior and ready to lead.
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I have a lot of thoughts on Clarity and Ethereum, but first time in my life I’ve been accused of working for an “advocacy organization”
Etherealize general counsel @syelderman on the Clarity Act in Fortune:
“I think it’s going to pass, based on all the great progress that has been made on both sides of Congress, and the support this bill is getting from the White House,” Steve Yelderman, general counsel of Ethereum-focused advocacy organization Etherealize, told Fortune. “That said, it’s Washington, and anything could happen.”
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Steve Yelderman retweeted
Etherealize general counsel @syelderman on the Clarity Act in Fortune:
“I think it’s going to pass, based on all the great progress that has been made on both sides of Congress, and the support this bill is getting from the White House,” Steve Yelderman, general counsel of Ethereum-focused advocacy organization Etherealize, told Fortune. “That said, it’s Washington, and anything could happen.”
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Steve Yelderman retweeted
What makes blockchain technology neutral infrastructure (like a highway) and what makes it a regulated intermediary (like a bank)?
The debut episode of Proof of Research is now live feat. @SMULawSchool Professor @Prof_CarlaReyes & @Etherealize_io General Counsel @syelderman 🎙️
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Every redline tells a story
Today we’re introducing a new Legal Agent in @Microsoft Word, built to support the precision and rigor legal work demands. Every clause matters. Every redline tells a story. That’s why this agent was built to follow the structured workflows lawyers use while keeping them fully in control.
Early in my career, I asked for a computer on my desk because I believed technology could change how lawyers work. It did. Today, I believe this next generation of tools will do the same, grounded in trust and responsible use.
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Steve Yelderman retweeted
Last week, @TheDRC_ hosted Policy Day at @EYnews 10th Annual Global Blockchain Summit, and the takeaway was clear: digital asset policy is entering a consequential phase.
The conversation is no longer about whether digital assets are here to stay. It’s about whether policymakers and regulators can deliver rules that provide clarity, support innovation, and preserve the core benefits of decentralized technologies.
Grateful to join @_jikim, @Advocate4Web3, and @SH_Brennan to discuss the latest on the CLARITY Act and what meaningful market structure legislation could unlock.
We also heard strong insights from @syelderman and @fundstrat on institutional adoption, @MarinaMarkezic on EU regulatory developments, and @dao_officer and @kkirkbos on the barriers facing L2s and their critical role in the ecosystem.
I was especially glad to host Taylor Lindman for his first public engagement since becoming Chief Counsel of the @SECGov's Crypto Task Force, where we discussed the SEC’s new interpretive guidance and regulatory agenda.
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Steve Yelderman retweeted
New Op-Ed from Etherealize General Counsel @syelderman in @CoinDesk on why privacy is the next regulatory frontier to onboard banks, asset managers and market makers.
"Much of our law already recognizes that financial privacy is not only an important civil liberty, but an essential economic good. Software developers and market participants do not need loopholes; they need to know what the law requires of them."
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Why don’t we just float individual barrels of oil down the Strait of Hormuz? There’s no way they can hit them all.
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Steve Yelderman retweeted
Surrounding yourself with sycophants leads to:
* Dunning–Kruger effect
* Less critical thinking
* Loss of touch with reality
Never forget that most LLMs are explicitly trained to be sycophantic, because humans love feeling flattered. It's basically the AI industry's nicotine.
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I predict recipe subscriptions and actual recipe books are going to boom in the next few months / years. No one wants to cook literal slop suggested by AI.
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Just think of all the additional cases we’ll be able to litigate with all our newly productive lawyers
This is counterintuitive for some, which is why there’s a paradox named after it. But if you lower the cost of something that was previously supply constrained, demand for that thing goes up. Software engineering is just one of the easiest examples to contemplate.
The process goes like this: every small business, every IT team, every large enterprise sees that engineering can now drive vastly more output. They then start to consider all the new things they can build or automate. They even test building prototypes themselves.
They only get so far with that approach because they realize there are still 50 other tasks that go into building software and maintaining it. So they start to hire more engineers to do that work. All of this for work they never would have considered automating or having software for if AI didn’t exist.
So yes, automating tasks, in plenty of fields, will lead to demand for experts, not less.
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1/ A brilliant insight: Execution is no longer the most important constraint on our output. Rather, it’s the ability to verify that work has actually been done correctly. It’s an inversion of scarcity between doers and supervisors.
21/ Verification is the ultimate complement to abundant intelligence—and it is structurally scarce. In the agentic economy, durable advantage belongs not to those who generate output but to those who can certify it.
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5/ Now take that and replace your doctor, accountant, kid’s teacher, therapist, etc. Without an ability to measure performance, we are throwing ourselves to the wolves.
29/ This is Goodhart's Law with teeth—optimization treating every unmeasured dimension as an unconstrained degree of freedom.
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6/ This is the AI hype cycle I worry about. If we overbuild a few data centers, so be it. But if we hand over the keys and abandon human expertise in places that matter, we may not appreciate what we’ve lost until it’s too late.
34/ Runaway Risk Zone—cheap to automate, but unaffordable to verify. This is where the structural danger lives. And as the Measurability Gap widens, more of the economy migrates here.
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