Good morning from Austin, where thousands of crypto devotees have braved storms and blazing heat to attend Consensus. The industry's biggest and longest-running conference, which can at times take on the feel of a religious revival, offers opportunities to schmooze and hear from prominent crypto names. And for a casual observer, Consensus offers a useful vibe check on an industry prone to wild swings in fortune.
Unsurprisingly, the vibe feels conspicuously upbeat compared to a year ago when crowds were thin and many attendees quietly confided to each other they were considering a pivot to AI. In practice, this means some of the more obnoxious elements have returned—though not to the level of Consensus 2018 in New York, when hucksters parked Lamborghinis outside the event and the halls were lined with booth babes and grifters offering "ICOs in a box."
