Yesterday, the Republican leaders in the Senate brought a bill to the Senate floor called the Digital Asset Market Clarity Act, otherwise known as the Clarity Act. This is the culmination of many years of work by the crypto industry and elected officials on both sides of the aisle to create laws in the US to govern the structure of crypto markets in the US.

My partners at USV and I have been investing in the crypto industry for fifteen years without the benefit of clearly written rules on what is allowed and what is not. I have been sued, dragged into the basement of the SEC and interrogated, threatened, and more. And many of the founders in crypto that we have backed have experienced worse. It is extremely challenging to build new technologies, markets, and businesses without a clear set of rules.

I have been asking for "market structure legislation" here at AVC and in the halls of Congress for over a decade and have met with countless regulators and elected officials lobbying for sensible rules in place of capricious regulators.

And now here we are at the "one yard line" as Treasury Secretary Bessent called it yesterday.

The current version of the Clarity Act is far from a perfect bill. I could tell you a dozen things that are wrong with it. And yet I support this legislation with everything I've got because I believe we need rules and we need them badly.

Here are some of the important things we get from this bill beyond regulatory clarity:

• meaningful consumer protections

• stronger tools for law enforcement

• clear definitions of what is a security, what is a commodity, what is decentralization, what is a protocol, and more

• a federal framework vs a hodgepodge of state regulations that is impossible to navigate

This is our moment. We must get this across the goal line and we need to do it in the two weeks between now and the August recess. We have a bill that all three arms of the federal legislating system support. We have a bill that most of the crypto sector supports. We have bipartisan support. This can get done and it can get done now.

I urge everyone to support this and encourage their Senators and Representatives to support it. Nothing is perfect. But perfect is the enemy of good. And this is good.

I've been playing around with agent harnesses since OpenClaw dropped at the start of the year. I've been particularly interested in agents who have money and can transact for me.

So I've been doing the classic Chris Dixon weekend hobby thing and hacking around on fun stuff that isn't the least bit mission-critical to anyone.

Given that we are fast approaching the knockout round of the World Cup, I thought I'd blog about a particularly fun project that I did last month and have been actively using since.

Two projects that I've spent a lot of time with over the last few months are Hermes and Pascal. Hermes is an agent harness from the team at Nous Research. You can use it to build agents that run on any models you choose. Pascal is a prediction market built fully onchain on the Solana blockchain that has a highly performant API that agents can easily use. And Pascal has every single World Cup game available to trade with plenty of liquidity. They came out of stealth yesterday on Twitter.

In anticipation of a summer of World Cup matches here in the US, Canada, and Mexico, I want to engage a lot more with this incredible sporting event.

So here is what I did:

1/ I took an old Mac Mini that was gathering dust in my storage basement and did a factory reset on it. I did not connect to iCloud or Google Mail on it so I could explicitly control what the agent has access to. I then opened the Terminal app and installed all of the programming tools and then installed Hermes on it. I did not use the Hermes Desktop app but if I was starting this project today, I would have.

2/ I created an agent profile in Hermes called Pele and told it that it was going to trade the World Cup prediction markets for me.

3/ I used my OpenRouter account to run Pele on one of the inexpensive Gemini models. I could have chosen any model, including the latest and greatest from Anthropic and OpenAI, but I want to see what is possible using a very inexpensive model. To date, my Pele project has spent a grand total of $21.84 on tokens.

4/ I connected Pele to the Telegram app on my phone using Telegram's BotFather feature.

5/ I used the Solana CLI and web3.js tools to generate a keypair and create a Solana wallet, which I then gave my Hermes agent access to. Then I opened the Phantom app on my phone and sent $1500 of Solana and USDC on Solana to my Pele agent's wallet.

6/ I told Pele to go look at the Pascal API docs and figure out how to create an account and start trading. I ran into a few transaction signing issues so I had to ask Pele to read the signing instructions carefully as well.

That was all it took to get up and running with Pele and Pascal.

Then I engaged in a weeklong conversation with Pele about how I wanted to approach the World Cup. I also talked to a few friends who are huge European Football fans to get their advice.

I wanted to construct a ladder portfolio that includes a bunch of Qualifier Bets (bets on teams to qualify for the knockout round that aren't locks), some longshot bets (teams that theoretically could win but are longshots to win), and then once my Qualifier bets pay off, I want to put those winnings into some favorites to hedge the longshot bets.

Pele and I ultimately settled on Senegal, South Korea, Turkey, and Scotland as the Qualifier Bets. All of them were about 1.5x returns if they qualify.

We settled on Portugal, Germany, and Netherlands as the long shot bets. All of them were 10-1 to 20-1 bets before the tournament started.

Pele placed all of those bets on the Pascal prediction market before the tournament started. I never visited the Pascal web app. I did all of this in Telegram, talking to Pele.

We have not yet made the front-runner bets. But we are leaning toward France, Spain, and Argentina at this time.

I trained Pele to do the following for me:

1/ Give me a twice-daily report that shows all of my open and closed bets and how much I've made or lost on them so far. The header image to this post is the top of that report.

2/ Alert me each day what matches are being played and when and if any of the teams I bet on are playing and what the current Pascal odds are on all of those games.

3/ Make suggestions of trades I should make to lock in some gains or mitigate some losses. I have done a few of those trades but have mostly let the bets run so far.

So what have I learned from doing all of this:

1/ Using agents in a messenger app is super fun way to bet on sports.

2/ Accessing prediction markets via an API is way better than having to open them on your phone or desktop and transact.

3/ Giving agents a wallet and some onchain money is drop dead simple to do.

4/ I am not a great picker when it comes to the World Cup. Turkey hasn't worked out and I've sold half of my position. I am underwater on Senegal too, and have sold some of that as well. Portugal has underwhelmed as well. I could have and may should have asked Pele to make all of the picks for me. He probably would have done better than me. But picking stuff (stocks, bets, etc) is so much fun for me. I'm not turning that over to an agent so quickly.

5/ Hacking around on this stuff is a ton of fun and a great way to figure out what to invest in. It has always worked best for me.

A year ago, USV decided to explore what an AI native VC firm would look like. We hired Spencer who built a platform and a bunch of agents and wrote this post about all of that before departing to do a startup. And we paused our longstanding analyst program last year and saw how far we could get with agent analysts instead of humans analysts.

That experiment was incredibly successful and we got a very long way without human analysts but in the end we concluded we could not get all the way without them. So we announced last week that we are recruiting for two new analysts.

That led our friend and fellow VC Yoni Rechtman to ask on Twitter, "What, the agents aren't good enough???"

To which our partner Rebecca answered:

Rebecca Kaden

@rebeccakaden

This is a good question! Here are things we used to think about in analyst hiring/need analysts to be good at that now won’t be on the list bc agents do it:
-reserves analysis and fund modeling
-LP reporting and company updates
-board meeting summaries and reports
-decks

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4:36 PM • May 12, 2026

Of course, this was all pretty predictable. Humans are going to be better at being human for the foreseeable future.

So if you are interested in a career in VC and your superpowers include these things:

-be immersed in networks of early day founders interested in our thesis areas

-be someone those founders want to share ideas with

-have great judgement of people and have interesting and compelling points of view

-be human with other humans and an organizer of great people together

Then you would be a great candidate for our new analyst program that will emphasize these things.

If you want to apply, you can do so here.