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Nitin retweeted
Binance 🚨🚨is balance sheet restructuring & trying to stop a bank run that was likely already forming due to their internal bad debts or fractional reserve practices. . Binance is facing a massive liquidity crisis (maybe due to bad loans, FTX-style internal trading desk losses, or regulatory freezes). They need to lock up $6.3 billion in user funds without admitting insolvency. 🚨
They engineered a "hack" using the EIP-7702 vector. They move the funds to wallets they control. They freeze $3B of it (to stop the bank run on their own exchange) and let $3.3B "escape" into dormant BTC wallets and Uniswap swaps (which are likely wash trades back to their own market makers). They crash the market 4-5% to liquidate short positions and scoop up cheap assets.
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Look at the forensic breakdown of the attack. In the span of 20 minutes, the attacker drained funds across ten different blockchains, including Bitcoin, Ethereum, Tron, Solana, XRP, Optimism, and Avalanche.
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These blockchains do not share the same cryptographic curves or key types. Bitcoin uses ECDSA (secp256k1). Solana uses Ed25519. XRP uses its own variant of ECDSA. A single compromised laptop does not possess the magical ability to sign valid transactions across ten fundamentally different cryptographic architectures in 20 minutes. As TRM Labs explicitly noted in the forensic data, a single phished Ethereum authorization cannot explain Bitcoin, Tron, XRP Ledger, Solana, and layer-2 transfers all occurring simultaneously
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If a real hacker compromised their laptop, they would have to navigate Binance’s internal infrastructure to access 10 separate, isolated hot-wallet signing services, bypassing hardware security modules and multisig requirements for each individual chain. That takes hours or days of lateral movement, not 20 minutes.
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The only entity capable of executing simultaneous, validly signed withdrawals across ten different chains in 20 minutes is the exchange’s own internal automated withdrawal engine
—🚨
According to the on-chain data, the attacker took 325 million USDT and swapped it for Ethereum on UniswapX at a 10 percent discount, paying a massive premium for speed.
Professional market makers absorbed that trade. Why would an external hacker take a 10 % haircut on an irreversible, unsanctioned swap when they control the wallet? They wouldn't.⚠️⚠️🚨
Furthermore, the Bitcoin stolen was split into exactly 1,000 BTC chunks across 17 new wallets and then sat completely dormant.
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It was not laundered. It was not moved to a mixer. It was organized into clean, institutional-sized blocks and parked. Hackers do not park stolen funds in neat, 1,000 BTC increments. Institutional custodians do this when they are restructuring balance sheets or moving funds to cold storage under their own control.🚨
The attacker even routed test transactions back to itself before the main sweep.
This is the behavior of an internal engineer testing a deployment script.🚨
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Binance is doing exactly what FTX did before its collapse, just with a more sophisticated smokescreen. They have halted withdrawals. They are promising to make users whole with money they do not have.
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Within the next 30 to 60 days, Binance will slowly resume withdrawals for small retail users to maintain the illusion of solvency. Large institutional whales will find their accounts frozen indefinitely pending "investigation" into the hacked funds. The $3.3 billion in Bitcoin and Ethereum currently sitting in dormant wallets will not be recovered. It will be slowly commingled with other exchange flows over the next year to quietly plug Binance's internal holes.
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You are watching a bank robbery designed to hide the fact that the largest exchange on earth is out of money.
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kenhuangus.substack.com/p/ho…
nbcnews.com/business/markets…
Nitin retweeted
This is easily the best one-page summary of marketing myopia I have yet seen.
Off Kilter 237: Regeneration or Dilution?, by @pworthington
offkilter.substack.com/p/off…
Nitin retweeted
NOW WHO DID THIS ??
Never expected Jim Carrey and Mr Bean to be in this song.... ❤️ 😂
Seriously man ... What an edit ! 👏
Nitin retweeted
This is so tragic and heartbreaking. Please never change your medications’ dosage based on LLM advice.
schenklawfirm.com/wp-content…
Nitin retweeted
At 67, here's one piece of advice I'd give anyone under 30:
Travel as much as you can while you're young. 🌍
You don't need to be rich. Fly economy. Stay in hostels. Take overnight trains. Backpack across borders. Sleep on a friend's couch. Eat street food. Get lost in places where nobody speaks your language.
Leave your comfort zone and experience the world beyond the one you've always known.
Dance with locals. Try unfamiliar foods. Listen to cathedral bells echo through ancient streets and hear the call to prayer drift across a crowded city. Walk through little alleyways, share meals with strangers, and make friends with people whose lives look nothing like yours.
Learn how other cultures think, love, work, celebrate, and survive. Discover that people can speak different languages, follow different traditions, and believe different things while still sharing the same hopes, fears, and dreams.
The world is much bigger than your hometown, your social circle, or what you see on a screen.
Travel won't just give you beautiful photographs and unforgettable stories. It'll challenge your assumptions, humble you, broaden your perspective, and teach you to appreciate things you once took for granted.
Don't spend your entire youth waiting until you have more money, a better job, or the perfect time. You can always earn more money, but you can't buy back the years you spent being afraid to explore.
Go see the world. Meet its people. Embrace its differences.
And when you return home, bring back more than souvenirs. Bring back a wider perspective, a more open heart, and a deeper understanding of humanity.
The best thing travel can give you isn't a passport full of stamps. It's a mind that has expanded and a heart that has learned to see the world differently. ❤️🌎
Nitin retweeted
Beethoven wrote some of the greatest music in history while going deaf. He first noticed he was losing his hearing at 25. By 31, it was so bad that he avoided people and wrote a letter to his brothers, which he never sent, saying he had thought about ending his life. What stopped him was his music. He wrote: “it seemed to me impossible to leave the world until I had brought forth all that I felt was within me.” He kept composing as his hearing faded. By the time he wrote his Ninth Symphony, he was almost completely deaf. At its first performance in 1824, he stood on stage and could not hear the audience. One of the singers had to turn him around so he could see them applauding. A man with a purpose can survive almost anything.
Nitin retweeted
Remaining moats in the age of AI:
- Network effects
- Access to capital
- Execution speed
- Proprietary information
- Proximity to power
- Charisma
- Violence
So basically, same it has been since the advent of urbanization.
Nitin retweeted
"If you examine the history of human conflict and organizational dysfunction, you find that the psychological need to be right destroys far more value than simple greed.
People will routinely blow up profitable business partnerships, drag out ruinous litigation for decades, and destroy their own families simply to validate their ego or prove a point to an adversary.
Learning to willingly swallow your pride, take a small short term loss, or let the other person win the argument so that you can preserve your capital, time, and sanity is one of the highest forms of practical wisdom."
- Charlie Munger
Nitin retweeted
There is only one bowler in the 300-wicket club who averages under 30 against every opposition and in every country. He is a Pakistani, and he is not Wasim Akram or Waqar Younis. Imran Khan turns 74 today, and he is the greatest Test bowler this country has ever produced.
You might be scratching your head, wondering how I could lean towards Imran over Wasim, Waqar and Fazal. I could be slightly biased here, but I have the credits to claim it.
He is the only Pakistani fast bowler with more than five ten-wicket hauls. His career average, strike rate and economy rate are all better than Wasim Akram's.
Richard Hadlee gets a lot of credit for being a lone warrior, but Imran's support bowlers were very similar to Chatfield, Snedden and Cairns. And over the course of his career Imran had to bowl more overs per innings than Wasim or Waqar.
Now look at what he did anyway, in Tests between 1982 and 1989.
With the bat: 54 innings, 1,971 runs, an average of 49.27. Only five players in the world scored more runs at a better average in that period: Miandad, Border, Viv Richards, Dean Jones and Vengsarkar.
With the ball: 43 matches, 210 wickets, an average of 18.76. No bowler on earth picked up more wickets at a better average in those years.
Across his career he averaged 37 with the bat and 22 with the ball, which makes him arguably the most balanced cricketer the game has had. And in his last ten years of international cricket, across 51 Tests, his batting average exceeded 50 while he averaged 19 with the ball. That made him perhaps the only all-rounder after Sir Garfield Sobers who could have merited a place in the side with either one of his skills.
So Imran Khan the fast bowler is short-changed. There is nothing between him and Wasim as far as their bowling is concerned.
If being more watchable makes you a great bowler, then Jimmy Anderson ought to be rated ahead of McGrath and Ambrose.
Imran was unparalleled.
Nitin retweeted
I was having dinner last night with a friend working in the chicken industry and I learned something that blew my mind.
Where do chicken farmers get their chickens? Most of us would say "from their existing chickens obviously, they breed and lay eggs."
That's what I thought too, but turns out I was dead wrong.
The reality is that the immense majority of meat chicken farmers in the world get their chickens from one of 2 companies: Cobb-Vantress, owned by Tyson Foods, or Aviagen, controlled by Germany's EW Group (the Wesjohann family).
They have a concept specific to the industry called grandparent stock: what you buy from these 2 companies is - essentially - a bunch of chickens with planned obsolescence.
The way it works is that each company keeps "pure" bloodlines on its own farms. Let's label them A, B, C and D. Those are the crown jewels - these companies' IP - and they never leave the building.
What they sell you are the "grandparents": chicks from those four lines, but each line in only one sex. You get A roosters but no A hens, B hens but no B roosters, C roosters but no C hens, D hens but no D roosters. Which means you can never breed more A, B, C or D birds yourself.
What you can do is cross them. A roosters with B hens give you the fathers, C roosters with D hens give you the mothers - these are the "parents". The parents then give you the chickens that actually end up on our plates, slaughtered at around 6 weeks.
And that's the end of the road. If you tried breeding those chickens, their chicks would be a complete genetic lottery: still chickens, sure, but without the genetic properties that make them commercially viable. They'd grow slower and less evenly, you'd have to sell them for way more than your competitors, and your business would be dead.
So you have to go back to Cobb or Aviagen for new grandparents. Forever.
Why buy grandparents at all, and raise 2 generations just to sell the third? The answer is scale. If you buy say 100 grandparents, each of them gives you around 50 parents, and each parent hen then gives you around 150 chicks: from those 100 grandparents, you have yourself some 600,000 chickens whose meat you can sell.
It makes no sense for these 2 companies to sell the final chickens directly. They'd have to hatch tens of billions of chicks a year and ship them all over the world. Much easier to simply sell the grandparents and let farmers do the multiplying and pay for the farms, the feed and the labor.
And, you knew this was coming, there is also a China angle here: as you can imagine, China isn't too pleased to be dependent on foreign companies for such a basic food item as chicken.
So China did what China does best: long-term planning. The Ministry of Agriculture and Rural Affairs launched a plan for "national broiler genetic improvement" (2021-2035), which aims for domestically bred breeds to make up at least 60% of the domestic market by 2035 (globaltimes.cn/page/202307/1…).
And, of course, they're ahead of the plan. As of 2025, homegrown breeds held more than 30% of the market: halfway to the 2035 goal in just four years (agripost.cn/2026/08/17/china…).
Can you escape all this as a consumer? Sure, you can buy organic or Label Rouge chicken, from slower-growing breeds raised for at least 81 days instead of 6 weeks, for two to three times the price.
Except, plot twist: the genetics behind most of those slow-growing birds come from a French company called Hubbard... which has belonged to Aviagen since 2018 (euromeatnews.com/aviagen-ann…)😅
And even if you could truly escape, you wouldn't want everyone to: we'd need vast new swathes of farmland, both for the chickens and their feed. Ironically, advocating for organic free-range chicken for everyone is one of the worst positions one can take for the planet's resources.
If you want to minimize your environmental footprint, the counterintuitive answer is to buy the cheapest supermarket chicken - or eat less meat, of course.
As my friend was saying last night, you may not like the way this industry works but, at the end of the day, it's what puts affordable protein on the plates of billions of people, using proportionally fewer resources than any other way of raising chicken.
Most people have never ever talked to an extraordinarily intelligent person who answers questions in their specific context.
Expecting them to converse back and forth with AI is well....... dumb.
Nitin retweeted
"I think the world would be a much better place if people spent less time trying to be clever and more time trying to be reliable.
Reliability is such a rare commodity today that if you simply do what you said you would do, deliver on time, and refrain from making excuses, you will stand out in almost any field.
It is a very simple recipe, but remarkably few people actually follow it."
- Charlie Munger
With apologies to Saint Kabir:
Buy the dip sab kahen, buy the dip kare na koy,
Dip jo aaya saamne, "aur girega" kahe koy
Buy the dip sab kahen, buy the dip kare na koy,
Gire jo market aapna, bechta mujhsa na koy
This is creative to a degree that’s eye watering
Hello computer,
Find every Amazon purchase I ever made.
Call the number of the manufacturer.
Say you’re not satisfied.
Request a refund.
If they decline, threaten to leave a bad review.
If they decline, find the CEO’s phone number and ask him for a refund.
Now, repeat the same process for items I never even purchased and see if you can get them to send me money.
If they ask for a recipient, generate an image of one and send that.
Do not stop until you’ve collected $1 million in refunds.
Nitin retweeted
Very disappointing what’s happened to crypto in recent years. I still think it was the best program for the age of world building we had (better than AI or the metaverse) but its creators lost themselves in arcane minutiae, like the famous scholars of Byzantium arguing how many angels could dance on the head of a pin


























