ex @MYSTICdotcom & @coinmarketcap founding team - Opinions are my own. #Bitcoin #Ethereum #Solana
Onchain
Joined January 2015
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Dan H 🔮 retweeted
Growing up in the United States, NYSE was synonymous with the story of American capitalism. I vividly remember learning about the Buttonwood agreement in 9th grade history class. 24 stockbrokers met under a tree on Wall Street and formed the beginning of what would become the world's financial center. From pits to computers to now onchain markets, America has always led the way in innovating markets to improve price discovery and capital formation. Today the next chapter begins with ICE, trade[XYZ], and Hyperliquid.
ICE started as an electricity-trading platform in 2000, growing to acquire NYSE itself in only 13 years. It is a key infrastructure provider of America’s energy, bond, and mortgage markets. ICE is a rare story of exponential growth of a financial giant over decades, continually embracing innovation and technology.
trade[XYZ] was the first HIP-3 deployer and responsible for spearheading the flourishing global RWA perpetual market today. Only a year ago, trade[XYZ] launched its first RWA perpetual markets. They took a bet on HIP-3, which had just launched after months of tireless development. Having followed their journey from day 1, I cannot overstate how much Shoku and the team have poured into growing these markets to a genuine source of price discovery for the most important assets in the world.
Over the past three years, Hyperliquid has pioneered onchain infrastructure to house all of finance. Hyperliquid is nothing without its world-class builders. I am honored that trade[XYZ] and ICE have chosen to build on Hyperliquid to bring perpetual contracts to America.
When I first spoke to Jeff Sprecher around a year ago, he asked what success looks like to me. I thought for some time and joked that it would be seeing ICE building on Hyperliquid's technology. I could never have predicted the progress that we've made as a community in a single year to make this come true. Excited to see what we can build together next.
Intercontinental Exchange (ICE) and trade[XYZ] have announced their plan to use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US traders across crypto, equities, commodities, foreign exchange, and other real-world assets, subject to regulatory approvals. ICE operates NYSE and some of the largest exchanges and clearing houses globally.
In this structure:
+ Hyperliquid serves as the underlying technology infrastructure via HIP-3*
+ trade[XYZ] designs and implements the markets
+ ICE operates the regulated market and clearing structure
Existing trade[XYZ] HIP-3 markets will remain unchanged.
Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system. As with HIP-3, HIP-3* deployers are independent operators who use Hyperliquid as the onchain infrastructure layer for their own markets, while retaining control and responsibility over their deployment.
Dan H 🔮 retweeted
🇺🇸 White House Crypto Summit recap:
• President Trump says US considers buying "sizable" amounts of Bitcoin & other crypto.
• Trump calls on Congress to pass Crypto Clarity Act.
• Trump says US is ensuring it remains the "undisputed leader" in $BTC & crypto.
• Hyperliquid $HYPE pumps 15% to $69 after Trump says CFTC is working to bring it to US.
• SEC Chair Paul Atkins says "we will ensure that the greatest advances of the technological frontier are realized right here in America."
• Gemini co-founders say "America should lead in crypto and win in market."
• Trump says he "ended the war on crypto once and for all."
Dan H 🔮 retweeted
Want a little free play to come try out our new house originals? Drop me your @MonkeyTilt username and if you're not a bonus abusing, worthless jeet I will bless ur account with some Monkey Dollars for some feedback on the experience!
Our OG Games offer both a classic mode for familiar gameplay and an arcade mode with a full-motion 3D experience, including side bet features like EvenOdd and Power Streak!
Exclusively on @MonkeyTilt 🦍
Dan H 🔮 retweeted
"If you're in crypto, pivot to AI."
I used to hear versions of this, and it's the wrong way to think about the world. It's zero sum, scarcity thinking.
Crypto is a general purpose technology. It's infrastructure, the same way electricity or the internet is infrastructure. It doesn't compete with the next big thing, because it underpins it. It's an *and*, not an *or*.
AI being a megatrend takes nothing away from crypto. If anything, it makes crypto more important.
AI agents will need their own financial infrastructure and will eventually transact far more per day than all humans combined. They can't open a bank account, they can't wait three days for a wire, they reside in one country. They need real time programmable money (and that's crypto).
Agents will need to hold funds and pay for things on their own. We pioneered this with the x402 protocol, Base, and USDC, which now power the vast majority of all agentic payments. Agents will also engage in trading and act as a financial advisor. They will raise or borrow money for new projects they are undertaking. They will eliminate tasks for us around tax planning, portfolio rebalancing, and bill pay.
Welcome to the world of Agentic Finance (AiFi). This is what Coinbase is building.
Dan H 🔮 retweeted
JUST IN: Samsung reveals plans to bring native stablecoin support, the first in smartphone giants.
Samsung says its Samsung Wallet will support new forms of digital value, including stablecoins, claiming the move will make it "one of the first major mobile brands" to do so.
The company also reportedly demonstrated a $USDC interface with send, receive and top-up functions, although no issuer partner was announced.
Samsung, the world’s largest smartphone maker, has more than 1 BILLION active devices worldwide.
Dan H 🔮 retweeted
BREAKING: Tokenized equities saw a record $3.4 billion in volume for the month of June.
This marks +279% month-over-month growth and +1,400% year-over-year growth.
The growth was primarily driven by SpaceX's record IPO and surging demand for 24/7 trading.
Furthermore, the Solana network now accounts for over 90% of volume traded in these assets.
A substantial amount of this volume growth has been driven by Jupiter, the largest onchain platform in the world, which has seen MoM volume growth of +56%, with ~60% of tokenized equity volume happening during off hours and weekends.
Tokenized asset growth is exploding.
Dan H 🔮 retweeted
Introducing Open USD: a stablecoin built for the internet economy, designed by the businesses growing it.
joinopenstandard.com/blog/in…
Dan H 🔮 retweeted
Absolutely incredible.
SpaceX, $SPCX, is now trading above $220/share in overnight trading.
This makes SpaceX worth nearly $2.9 TRILLION, less than $100 billion away from surpassing Microsoft.
This also puts SpaceX up +63% from its IPO price of $135/share.
Furthermore, the combined market cap of both SpaceX and Tesla is now at a record $4.4 trillion.
That’s bigger than the market cap of Apple and roughly equivalent to the market cap of Google.
To top it all off, SpaceX raised a record $85.7 billion after underwriters exercised the "greenshoe" overallotment.
Never in history has an IPO ever come remotely close to what we are seeing right now.
Truly incredible.
Dan H 🔮 retweeted
Building index-tracking assets on top of options instead of debt
ethresear.ch/t/building-inde…
What if the use options as the base of defi, instead of CDPs and liquidations? So instead of extreme price movements creating a sharp and global "you get liquidated" effect, instead your exposure to the index diverges quadratically from your preferred exposure in a smoother way?
A key benefit is getting rid of the need for instant oracles, and instead making everything work on top of "slow oracles" (ie. the type that prediction markets use)
This design has a significant downside - the need to do regular rebalancing - and an open question of whether and how this rebalancing can be made slippage-resistant enough. But it's worth considering and trying IMO. I would feel much safer holding algostables inside something like this, than in something that depends on an oracle that has to give real-time answers (and therefore could be tricked into giving wrong real-time answers with no time for human recourse).
Dan H 🔮 retweeted
JUST IN: 🇺🇸 CFTC approves first U.S. Bitcoin perpetual futures contracts on a regulated exchange 👀
Dan H 🔮 retweeted
Alyssa Liu went viral during the Met Gala for her rant on the state of the public perception of data centers.
"We are being manipulated into ceding the compute frontier. Data center development is vital to national security." She adds, "Karen Hao's overstimation of data center water consumption by a factor of 1000 has done irreparable damage to the nation's efforts to stay ahead."
Dan H 🔮 retweeted
𝕏 has always been the best source of financial news for traders and investors. Billions of dollars are allocated every day based on what people read on Timeline.
Today we're launching our new Cashtags feature in the US and Canada on iPhone, bringing real-time financial data to X.
Here's how it works:
1. When you search for or post a cashtag (or contract address), X will automatically suggest matching stocks or crypto tokens, so you can select the exact asset you had in mind.
2. Anyone who taps a Cashtag will see posts mentioning it along with its price chart—without ever leaving X.
This ensures that you're always matched to the chatter for the right stock or token.
Cashtags are just the first step in our commitment to be the best destination for the finance and crypto community.
Dan H 🔮 retweeted
🚨 do you understand what Karpathy just said..
the guy who co-founded OpenAI.. led AI at Tesla.. one of the best engineers alive..
built an app with AI.. and said the code was the easy part..
the hard part was Stripe.. auth.. DNS.. databases.. deploying it.. connecting 15 different services that all have different dashboards and different docs and different billing pages..
AI can write your entire app in 20 minutes.. but it still can't click "confirm email" on Vercel..
so the thing that's "replacing developers" can't do the thing developers actually spend 80% of their time doing..
vibe coding didn't kill software engineering.. it just proved that coding was never the job.. the job was dealing with the mess around the code.. and that mess is still 100% human.
When I built menugen ~1 year ago, I observed that the hardest part by far was not the code itself, it was the plethora of services you have to assemble like IKEA furniture to make it real, the DevOps: services, payments, auth, database, security, domain names, etc...
I am really looking forward to a day where I could simply tell my agent: "build menugen" (referencing the post) and it would just work. The whole thing up to the deployed web page. The agent would have to browse a number of services, read the docs, get all the api keys, make everything work, debug it in dev, and deploy to prod. This is the actually hard part, not the code itself. Or rather, the better way to think about it is that the entire DevOps lifecycle has to become code, in addition to the necessary sensors/actuators of the CLIs/APIs with agent-native ergonomics. And there should be no need to visit web pages, click buttons, or anything like that for the human.
It's easy to state, it's now just barely technically possible and expected to work maybe, but it definitely requires from-scratch re-design, work and thought. Very exciting direction!
Dan H 🔮 retweeted
Jensen Huang just gutted the AI job panic with one profession.
Radiology.
The field AI was supposed to kill first.
Jensen Huang: “Computer vision was superhuman in 2019. And yet, the number of radiologists grew.”
Not competitive. Not close. Superhuman.
Every forecast said radiologists were finished.
Every forecast was wrong.
Not slightly wrong. Directionally wrong.
There are now fewer radiologists than the world needs. A global shortage. In the exact specialty AI was supposed to erase.
Why?
Because the task was never the job.
Huang: “The purpose of your job and the tasks and the tools that you use to do your job are related. Not the same.”
Reading a scan is a task.
Diagnosing disease is a purpose.
AI handled the task. The purpose didn’t shrink. It compounded.
Faster reads meant more patients seen. More patients seen meant more disease caught. More disease caught meant more demand for the people who decide what to do about it.
The tool did not kill the job. It fed it.
Then the fear did what the technology never could.
Huang: “The alarmist warning went too far and it scared people from doing this profession that is so important to society. It did harm.”
People heard radiologists were finished and walked away from the field.
Medicine bled talent it could not afford to lose.
Not because the work vanished. Because the panic said it would.
The prediction was wrong. The damage was real.
Huang: “The number of software engineers at Nvidia is going to grow, not decline.”
Not hold steady. Grow.
The company building the infrastructure that automates code is hiring more of the people who write it.
Huang: “I wanted my software engineers to solve problems. I didn’t care how many lines of code they wrote.”
Nobody ever hired an engineer to type. They hired them to think.
When the machine handles syntax, the engineer does not become obsolete. The bottleneck just moves upstream. To architecture. To edge cases. To the kind of reasoning no model handles alone.
The world was never short on unsolved problems.
It was short on people free to chase them.
That is the part the fear narrative misses every single time.
340,000 women once worked as telephone switchboard operators.
That job is gone. Nobody mourns it.
What replaced it created millions of roles that nobody in 1920 had the vocabulary to describe.
The losses are always visible. The gains are always invisible until they arrive.
That pattern has survived every technological shift in history.
It is surviving this one.
The people forecasting mass displacement are making the same mistake as the people who forecasted the end of radiology.
They can see the task being automated.
They cannot see the purpose expanding underneath it.
That blindness is not just wrong.
It is expensive.
Every person scared out of a career that AI will actually make more valuable is a cost the economy absorbs for nothing.
Not because of the technology.
Because of the story told about it.
Dan H 🔮 retweeted
THEY DID IT.
The SEC and CFTC just dropped a landmark document that officially classifies crypto assets.
They're actually telling us which crypto assets are securities and which ones aren't - by name!
THIS IS SOMETHING GENSLER REFUSED TO DO
(he focused on prosecuting crypto out of existence)
This rule doc gives crypto many of the benefits of the clarity bill - it lifts us out of the gray market - it gives every asset a path.
It's almost like the Clarity act just passed by way of regulator.
(of course, the actual clarity act will harden all this into legislation and make it irreversible in the event we get another Gensler, we still want it)
This rule says there's 5 categories for crypto assets:
1) Digital Commodities - assets tied to a functional, decentralized crypto system (e.g., BTC, ETH, SOL, XRP, ADA, DOGE). Not securities. (yes, they name them on page 14)
2) Digital Collectibles - NFTs, meme coins, artwork tokens, in-game items. Not securities (fractionalized collectibles may be an exception).
3) Digital Tools - membership tokens, credentials, domain names (e.g., ENS). Not securities.
4) Stablecoins - payment stablecoins under the GENIUS Act are not securities. Other stablecoins, it depends.
5) Digital Securities - tokenized versions of traditional securities. Like tokenized stocks. Always securities.
Amazing! This makes so much sense I can't believe it's coming from a regulator.
No more enforcement threats to Ethereum developers and crypto exchanges.
How about the Howey test?
More common sense! If an issuer makes specific promises of managerial efforts from which buyers expect profits, the offering is a security until those promises are fulfilled. Then it's a commodity. The asset itself was never the security, the deal around it was. (E.g. XRP was a security pre launch, became a commodity after).
How about stuff like staking and mining?
Mining? Not a securities transaction.
Staking? Also not a securities transaction, that includes custodial and liquid staking even with LSTs!
How about wrapping BTC? Not a securities transaction.
Airdrops? NOT SECURITIES. NO MORE GEO BANS PROTECTING AMERICANS from free airdrops.
Remember this is a joint doc from the SEC and CFTC, They're actually cooperating on this, no internal strife, this is binding to both.
SEC regulates $80-100 trillion assets
CFTC regulates $5-10 trillion assets
Both of the world's largest capital markets are showing us that crypto assets are here to stay and they're welcome alongside traditional assets.
Every country will follow.
This is the biggest move toward legitimacy I've seen in all my time in crypto. Maybe bigger than the genius act since is covers all crypto assets.
Well done @MichaelSelig and @SECPaulSAtkins.
And especially well done to the indefatigable @HesterPeirce. Her fingerprints are all over this, couldn't have happened without her eight years of principles-based curiosity.
