Alpin Yukseloglu

Do you have an explanation as to why it's been so slow?

My sense is that it's almost entirely a social thing.

I mean, in my peer group, crypto is the biggest industry that has remained the most contrarian.

And I think part of that is because it's very reputationally volatile.

And part of it is because there's this dynamic where the best people in the industry, the gap between the best people in the industry and the median person in the industry is much larger than anywhere else.

So if you, for example, don't have exposure to the high quality pocket of crypto, then all you see are the scams.

And it's like that can distort your view such that you just completely dismiss the industry.

And historically, there's been a lot of alpha in that, right?

And I think a lot of us have benefited from the fact that there's significant reputational volatility.

And if you aren't as sensitive to that as a person in terms of your temperament, you can do very well in crypto.

But I think it's a social...

thing.

And I think it's just this legibility point about there just hasn't been a brand that can bridge the crypto and the AI worlds.

I think it's like if something touches crypto, it sort of in the AI world historically has been tarnished.

And as a result, people just have tried to avoid it altogether.

And this has created an opening for something like, for example, something like EVM Bench to get built

and shipped inside OpenAI without any sort of... I think all of the major model labs are going to be running on this benchmark and probably any future versions of it without significant competition inside the labs.

There aren't like 30 to 50 crypto-related benchmarks or training environments that people are shipping.

In some sense, it's actually agency-inducing for us because they'll just defer to the crypto industry to just figure out what's valuable for them.

But I think it's...