Sunsetting the w3w newsletter.

Like a lot of people these days, I'm sick to death of corporate social platforms.

In that spirit, I'm getting off Substack and effectively retiring w3w, my regular tech newsletter that I've distributed primarily through that platform. This will be the last edition.

Going forward, I'll focus instead on this self-hosted blog as my main channel for writing about emerging tech (and sometimes other topics as well). In 2026, I anticipate a looser publication schedule here, with more experimentation in different media formats. I'd like to do more video in particular. Maybe write a book as well.

I'm also starting a new email distribution list for the blog, starting Jan. 30. So that will hopefully fill the gap for old w3w subscribers.

If you previously gotten the newsletter deliverd to your inbox by Substack, just hang tight. No action needed. By default, I will include all w3w's Substack subscribers as of Jan. 30 on this blog's new email distribution list. Thus we can continue our conversation about tech into 2026 and beyond, if you want.

To be honest, w3w was always basically a one-man show anyway. So I figure this approach will make sense for most subscribers.

That said, I also want to be transparent about moving people's email addresses from one service to another. If you don't want to be included on my post-Substack distribution list, there are two easy ways to opt out:

• Unsubscribe from w3w via Substack before Jan. 30. Or...
• Email me directly at peter[at]pmckay[dot]com, and I will remove you manually. (This is also a good option if you have questions or comments you want to pass along. I'm all ears!)

Many thanks to everyone who has followed and spent time with w3w over the years. For paid subscribers, I still need to do my 2025 tech outlook soon. So please do keep an eye out for that.

All that said, I do think it's time to change things up a bit. To that end, the changes described above mark a new beginning. Stay tuned. 😊

Week in Review: Dec. 14-20, 2025

• Despite a 6% decline in bitcoin's price this year, BlackRock's exchange-traded bitcoin fund (IBIT) has seen a $25 billion inflow of investor cash. The surge of investment activity underscores the increasing appetite for bitcoin exposure among conventional finance firms that prefer a vehicle listed on Wall Street's public securities exchanges. (CoinDesk)
• Gold-backed stablecoins are booming. The Block reports that the combined valuation of such tokens recently topped $4 billion, led by Tether Gold (XAUt).
• In the U.S., progress on crypto payments: Both the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC) proposed new rules for their regulated institutions to handle crypto payments in ways that limit risk to firms' conventional asset reserves... Visa announced a new payment settlement service in America using the USDC token on the Solana network.
• The Securities and Exchange Commission slapped lengthy bans on a trio of former FTX executives from serving as officers or directors of U.S.-listed public companies. (The Block)
• Google has been aggressively rehiring former employees. About 20% of its AI software engineers hired in 2025 have been so-called "boomerang employees." (CNBC)

Market Snapshot

A quick look at some major indicators as of Friday's close on Wall Street:

Looking Ahead

• Mixed news for crypto in the U.S. Senate: Key committees are set to take up the Clarity Act, a major market structure bill, in January. That moves the legislation closer to a full floor vote early next year... On a less auspicious note, Sen. Cynthia Lummis, a staunchly pro-crypto Republican from Wyoming, said she will not seek re-election next year.
• The U.K. Treasury is drawing up rules for the country's Financial Conduct Authority to begin overseeing crypto companies in 2027 in a way similar to conventional financial firms. The push for clearer rules comes at a time when public confidence in the token market appears to be at an ebb in Britain. In 2025, the rate of crypto ownership among U.K. adults has fallen to just 8%, down from 12% in 2024.
• Analysts at Mizuho fretted in a recent note that Coinbase's plan to launch a prediction market could "cannibalize" the company's core token-trading business. Hmm...

Odds & Ends

• Opioid treatment in the U.S. could stand a big update, writes Dr. Zoe Adams in Slate. She's hoping the tragic murders of Rob and Michele Reiner, allegedly at the hands of their son who had been out of drug rehab 18 times in his life, might spark more conversation about needed changes. Adams notes that U.S. residential rehab facilities tend to emphasize 12-step programming pioneered by Alcoholics Anonymous, relying entirely on sudden and complete withdrawal. Only 30% of facilities offer drugs like buprenorphine or methadone that have been medically proven to help wean addicts off opioids.
• Merriam-Webster named "slop" its 2025 Word of the Year. Out of several distinct definitions for the word, the venerable dictionary publisher now lists this one first: "digital content of low quality that is produced usually in quantity by means of artificial intelligence."

That's it for now. Thanks for reading the newsletter today! If you want to know more about w3w's history and (ahem) the author, that info is available here.

Please note, I regularly use several AI apps to assist production of w3w. But the final edit is 100% by me. For fuller detail, see the newsletter's commit history on GitHub.

If you need to reach me directly, please email peter[at]pmckay[dot]com.

Best wishes for a healthy and productive week ahead. 😊