A BTC crypto big timer
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Joined January 2024
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TTD retweeted
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.
trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States.
In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch.
We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress.
ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid.
Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it.
ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one.
We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them.
To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story.
Anything. Anytime. On ICE[XYZ].
TTD retweeted
falling asleep on planes is a feminine trait
what do you mean your brain allows you to let your guard down 35,000 feet above the ground in a compressed tin can with no way out
if you feel ‘sleepy’ in this situation then you do not have true warrior blood
it’s not time to sleep, we are VERY far from base camp and MUST stay alert
TTD retweeted
incredible article
extremely well reasoned in a clear, cogent manner
this is the stuff you expect VCs to produce but never do
11/10
TTD retweeted
you work with boomers long enough the ellipses .... just sort of creep on you .... its so easy .... so calming ........
TTD retweeted
crypto is going through its venture --> liquid transition as an investible asset class.
most infra has been built, most chains we need exist. there is less of a need for massive vc rounds for infra slop and most funding is now focused on the app layer. this layer needs less vc capital in general and is suited for smaller funds and angels. mega-vc's no longer needed or desired.
crypto vcs starting to diversify into other asset classes is a healthy and natural consequence of this. there are other industries that are only venture investable at this stage, where as crypto is no longer this way.
we are slowly unfucking the tokens and moving towards a much healthier liquid market. high fdvs have been sent to hades, investor skepticism around non-rev protocols has only gotten louder and more detrimental to those tokens, and real, sustainable revenue generating protocols are emerging and being rewarded.
it's an exciting time to be a liquid crypto investor. crypto is still the best technology in the world to move and trade assets and the next few years will solidify this. everything is coming onchain.
strap in, buckle up, hold onto your butts, lock the fuck in. we're making crypto cool again.
2.5 years ago I was trading a coin named after Drake's cat, joined TGs and raided to pump my shitters, and thought "American Coin" would get me out of 5 figure hell
TTD retweeted
Think that in this zero-friction / abundance world, capability will become the new luxury and flex
The old flex was “I don’t have to deal with this.” Driver, concierge, business class, staff, everything handled
The new one is “I don’t have to, but I still can”
For most of history, status meant not having to do things yourself. The flex was insulation. But if Uber/AI/delivery/concierge-level services become available to basically every affluent person, then “I never have to deal with this” stops being an interesting signal. What becomes impressive is the person who doesn’t need the infrastructure despite having access to it
Because there’s a weird point where convenience stops expanding your range and starts shrinking it. Uber everywhere until a 20-min walk feels annoying. Business class until economy becomes “impossible”. Five-star hotels until a slightly shit room genuinely ruins the trip. Assistant handles every booking / complaint / bit of admin until some restaurant losing your reservation becomes a problem you don’t even think of solving yourself. You’re objectively richer and more comfortable, but the number of situations you can happily operate in keeps getting smaller
You see the extreme version with properly rich people. Driver, chef, assistant, concierge, house manager, travel agent, members’ club, someone to fix basically anything that goes wrong. Again all amazing individually, I’d happily use half of them. But stack enough infrastructure around yourself and eventually you become weirdly dependent on it. There’s a difference between having someone make your life easier and reaching a point where normal life feels difficult without them
Think that’s the part people miss when talking about freedom. We usually measure it by what you can afford: can fly private, stay anywhere, have someone handle everything. But there’s another kind of freedom which is basically how wide your acceptable range still is. Can you take the Subway, eat somewhere random, deal with a cancelled flight, navigate a new city, sleep somewhere basic, cook for yourself, change plans when something is fucked. Money should increase the number of lives you could comfortably live, not progressively narrow them
It’s also probably why the wealth curve gets so funny at the top. Poor people suffer involuntarily friction, the middle class spends decades paying to remove it, then rich people start paying $$$ to put it back in (Marathons, sailing, remote expeditions, climbing mountains, fasting, silent retreats, difficult travel etc.) Basically spending 20 years making sure you never have to be cold / hungry / lost / uncomfortable, then pay $10k to be all four in Patagonia
And tbh I don’t think that’s contradictory. Once comfort is abundant, difficulty becomes scarce. More importantly, chosen difficulty is a way of checking you can still function without all the infrastructure around you. The remote trip / marathon / whatever isn’t valuable because suffering is somehow virtuous. Part of the appeal is probably just proving to yourself that convenience hasn’t made you incapable
Obviously I’m not going to start flying economy for character development or cleaning my flat to preserve agency. Use money to remove dumb repetitive shit, that’s literally the point
But I increasingly think the real luxury end-state isn’t zero-friction, it’s having complete control over which friction you experience without becoming dependent on everything you bought to remove it
Removing friction is how rich people end up losing agency and human IQ
It starts with Uber-everywhere, grocery delivery, all-inclusive holidays, then private driver, chef, assistant etc… without noticing you’re also removing exposure to reality
I see this in London with young ambitious professionals aka HENRYs (High Earners Not Rich Yet) trying to remove every tiny friction from life so they can focus on work + gym + sleep + money, while forgetting that a lot of the “inefficient” shit they’re deleting (cooking, walking somewhere, random talks etc) is also just… being a human in your 20s/30s
The thing is you’re not only saving time, you’re removing thousands of tiny reps of dealing with the world. Finding the place, fixing the booking, working out what to do when the train gets cancelled, asking someone for help, improvising because the plan is fucked. None of these makes you smarter on its own, but remove basically all of them for 10 years and I’d be surprised if it has zero effect. You can become incredibly high-agency at work while weirdly low-agency at normal life
It’s why so many high-agency rich people are deliberately paying to add friction back into their lives (difficult travel, long treks, sailing, marathons, remote places, silent retreats, climbing mountains, etc). They’ve understood that once comfort is abundant, difficulty becomes scarce. The luxury good eventually becomes optional hardship. The distinction is agency. Being forced to walk 10km because your car broke down sucks. Choosing to hike 20km in Patagonia feels meaningful
The way I think about it personally is just aggressively remove boring / repetitive friction, while keeping a decent amount of unpredictable friction. I’ll happily pay more for the direct flight, live centrally to kill a commute, outsource cleaning/admin, take the Uber if it genuinely saves 40 mins. A 15-min annoyance x300 a year is actually expensive. There is absolutely no hidden life lesson in doing your laundry for the 800th time or spending 2h getting somewhere you could reach in 30 mins
Think the objective of wealth shouldn’t be zero friction, but simply choosing your friction. Basically removing all the boring shit so you can expose yourself to more of the interesting stuff
Barron Trump has made an outstanding impact on my life for the past 3 years
Credit where it's due
goodalexander says Barron Trump saved Hyperliquid
“The reason Hyperliquid pumped so hard is because a lot of people in the know were like, ‘Oh yeah, Hyperliquid is gonna get prosecuted.’ Obviously, that’s not fucking true”
“So if Trump is coming out and saying Hyperliquid, it means Barron was like, ‘Hey dad, no, Hyperliquid’s the jam,’ and that is the policy now”
“It’s great for crypto because that means there are more onchain fees and better assets. It’s just unambiguously positive because fees flow to chains, whether that’s Circle’s new chain, Ethereum, or Solana. There’s a race between all these L1s, but at least you’re racing for something instead of racing for an indictment”
TTD retweeted
bear market astrology
- ogs sell >100k. selling above the 6-fig psychological accomplishment after holding for a decade+. below this round number they'll wait it out.
- etf holders (retail and hedge funds) accelerate selling below 100k. they r simply trend-following paperhands.
- at some point (80-90k) these sellers exhaust and more long term buyers come in. a local bottom forms.
- we pump to near 100k making everyone believe we r back. typical bear market rally that makes bears doubt their view.
- "macro" actually deteriorates and we bleed to 60-70k
- 6-9mo of consolidation in this area including one final capitulation leg down. no one believes we'll ever come back except for 5 ppl on this site.
- new cycle begins.