I reviewed my personal finances this morning. This is something that I've done on a monthly basis for the last several years. I originally started doing it because I had recently quit my job in investment banking and found myself constantly concerned with how much money I had left in the bank and how fast I was burning through it.

I found that a once monthly review was frequent enough to free me from the feeling that I needed to worry about my finances more generally outside of that brief time I set aside to review them, without the negative trade-offs that might have resulted from not thinking about my finances for, for example, 6 months at a time.

This personal finances review typically takes me about 30 minutes or an hour, but this morning it took a few hours because I had not done it in a few months (very unusual for me, historically), and because I also executed some transactions primarily to capture some capital losses before the end of the year (I had more of those than I have had historically as well, unfortunately).

Part of the reason I think I had not done this review in a few months is because it has become more complicated and so I am not as confident that the result of the review is as accurate as it once was. The combination of it being harder to do and less accurate and therefore useful once it is done has probably led me to skip the last few months, but it feels good to get back in sync.

The two main reasons this review is more complicated than it used to be for me are that (1.) a considerable percentage of my net worth on paper is now represented by my $QR holdings and (2.) estimating my tax payment before comprehensively going through my tax prep for the year has become a more challenging task each of the last few years.

The $QR part is difficult to deal with because the value my wallet says it is worth is not what I would actually get if I sold it and more importantly that's irrelevant because I do not expect to sell a large percentage of my $QR holdings near-term and since the value is very volatile it's current "value" doesn't really matter at all. For that reason, I exclude it from everything else in trying to get a picture of my personal finances.

One thing which stood out to me after doing my review was something that I already knew. While I continue to bet big on crypto, within my overall allocation to crypto I have transitioned somewhat from an intentionally unopinionated, almost entirely market cap weighted approach to investing in crypto, to layering on top of that still persistent foundation one obviously outsized and therefore implicitly opinionated bet within crypto. That bet is on Farcaster (@farcaster_xyz).

I have invested and continue to invest heavily in Farcaster, not just with my money, but more importantly with my time. From a purely financial perspective, $QR and $CLANKER are 2 of my top 4 largest holdings alongside $BTC and $ETH. My 5th largest holding is $SOL which is just behind CLANKER, which to my previous point is ridiculous from a market cap weighted perspective given that SOL's market cap is >2,000x that of CLANKER's. Then $ZEC is well behind those top 5 as my 6th largest as a result of its relatively recent significant appreciation.

As could be surmised from my historical market cap weighted approach, I am not a massive risk-taker. I have long viewed crypto as risky enough, especially with the large % of my net worth that I have invested in it, so I tried to derisk it as much as possible by effectively indexing the top few tokens by market cap. Betting big on Farcaster is the first material departure I have made from that strategy, which still underlies my overall strategy, but not as comprehensively as it used to.

I have written a good amount about why I am betting on Farcaster, why I believe in it, why I believe social is the second most obvious area where censorship resistance matters beyond money, why I believe $CLANKER is the best token by which to invest in Farcaster (since the acquisition), why I am building $QR, why I believe in $QR, why I like other appcoins in the ecosystem, why I believe in the people of this network, etc., and I have to stop writing now, so I won't go through all of that again here. I am moreso just observing and sharing that as of the end of 2025 I remain heavily invested in Farcaster. And if you are reading this and you are on Farcaster you might be a non-trivial part of the reason why. Let's go off in 2026.

I reviewed my personal finances this morning. This is something that I've done on a monthly basis for the last several years. I originally started doing it because I had recently quit my job in investment banking and found myself constantly concerned with how much money I had left in the bank and how fast I was burning through it.

I found that a once monthly review was frequent enough to free me from the feeling that I needed to worry about my finances more generally outside of that brief time I set aside to review them, without the negative trade-offs that might have resulted from not thinking about my finances for, for example, 6 months at a time.

This personal finances review typically takes me about 30 minutes or an hour, but this morning it took a few hours because I had not done it in a few months (very unusual for me, historically), and because I also executed some transactions primarily to capture some capital losses before the end of the year (I had more of those than I have had historically as well, unfortunately).

Part of the reason I think I had not done this review in a few months is because it has become more complicated and so I am not as confident that the result of the review is as accurate as it once was. The combination of it being harder to do and less accurate and therefore useful once it is done has probably led me to skip the last few months, but it feels good to get back in sync.

The two main reasons this review is more complicated than it used to be for me are that (1.) a considerable percentage of my net worth on paper is now represented by my $QR holdings and (2.) estimating my tax payment before comprehensively going through my tax prep for the year has become a more challenging task each of the last few years.

The $QR part is difficult to deal with because the value my wallet says it is worth is not what I would actually get if I sold it and more importantly that's irrelevant because I do not expect to sell a large percentage of my $QR holdings near-term and since the value is very volatile it's current "value" doesn't really matter at all. For that reason, I exclude it from everything else in trying to get a picture of my personal finances.

One thing which stood out to me after doing my review was something that I already knew. While I continue to bet big on crypto, within my overall allocation to crypto I have transitioned somewhat from an intentionally unopinionated, almost entirely market cap weighted approach to investing in crypto, to layering on top of that still persistent foundation one obviously outsized and therefore implicitly opinionated bet within crypto. That bet is on Farcaster (@farcaster_xyz).

I have invested and continue to invest heavily in Farcaster, not just with my money, but more importantly with my time. From a purely financial perspective, $QR and $CLANKER are 2 of my top 4 largest holdings alongside $BTC and $ETH. My 5th largest holding is $SOL which is just behind CLANKER, which to my previous point is ridiculous from a market cap weighted perspective given that SOL's market cap is >2,000x that of CLANKER's. Then $ZEC is well behind those top 5 as my 6th largest as a result of its relatively recent significant appreciation.

As could be surmised from my historical market cap weighted approach, I am not a massive risk-taker. I have long viewed crypto as risky enough, especially with the large % of my net worth that I have invested in it, so I tried to derisk it as much as possible by effectively indexing the top few tokens by market cap. Betting big on Farcaster is the first material departure I have made from that strategy, which still underlies my overall strategy, but not as comprehensively as it used to.

I have written a good amount about why I am betting on Farcaster, why I believe in it, why I believe social is the second most obvious area where censorship resistance matters beyond money, why I believe $CLANKER is the best token by which to invest in Farcaster (since the acquisition), why I am building $QR, why I believe in $QR, why I like other appcoins in the ecosystem, why I believe in the people of this network, etc., and I have to stop writing now, so I won't go through all of that again here. I am moreso just observing and sharing that as of the end of 2025 I remain heavily invested in Farcaster. And if you are reading this and you are on Farcaster you might be a non-trivial part of the reason why. Let's go off in 2026.