this actually makes a ton of sense
for @HyperliquidX to function properly in the U.S., Jeff would need to find a suitable partner who understands HL but is also fully compliant
Kraken acquired NinjaTrader and Bitnomial recently, & with both of those acquisitions Kraken's parent company Payward has all of the CFTC licenses FCM+DCM+DCO
Hyperliquid already has existing infrastructure to support something like this with HIP-3, so Kraken could just be another integration similar to what @tradexyz has done for perpetual futures on stocks
@arjunsethi has been very vocal about playing positive sum games @ Kraken, definitely most underrated out of the existing CEXs in the US & this would be a huge chess move in gaining mindshare and adding a substantial line to their business
will be interesting to see how this plays out, because if true could be the beginning of other moves as well as they've been very aggressive with the acquisitions, & Payward has all the licenses across the financial stack: prediction markets, futures, & options
Havenโt made a meme in almost a year and a half
solana:CFPkPq1eYPR8GLzEo59wUbbMioX4bshaTQiSGzTSpump has re lit that memeing flame inside me
It has legs
kicking myself for not buying CYPH (ZEC DAT + ZEC eco investments/mining), brought it up a week ago as being a good ZEC beta with a big mNAV discount, now up over 2x
Given they're also doing ZEC mining, this might be the 'the' tradfi crypto trade of this cycle if they chill with the ATM sales
Just to give the new gen a refresher, last cycle:
- PEPE hit $12B
- WIF hit $5B
- BONK hit $5B
- Fartcoin hit $2.6B
- BRETT hit $2.3B
- SPX hit $2.3B
- POPCAT hit $2B
- MOG hit $1.6B
- GOAT hit $1.4B
- MEW hit $1.1B
- GIGA hit 950M
- TOSHI hit 950M
- BOME hit $920M
- ZEREBRO hit $800M
- SLERF hit $650M
Every single one of these coins produced 8-figure PnLs for multiple people. Every single one of these coins had multiple runs to new ATHs. Every single one of these coins recovered from multiple 80% drawdowns.
The current regime of memes being good for 1 pump and getting farmed to death by FnF kids has nothing to do with markets "maturing" or memecoins being "solved". It is explicitly a function of the 4 year cycle and the fact that we are deep into a bear market (after experiencing somewhat of a left-translated cycle).
If the coins you are in have even small semblances of community and cultural relevance, shed your PTSD. The best conditions are ahead of us.