Without stablecoins, real-time AI payments become incredibly difficult.
Vincent Chok explains why stablecoins are the necessary fuel for efficient, instant machine-to-machine financial interactions
Follow @FD_XYZ for more on AI-native financial infrastructure.
Without stablecoins, real-time AI payments become incredibly difficult.
Vincent Chok explains why stablecoins are the necessary fuel for efficient, instant machine-to-machine financial interactions
Follow @FD_XYZ for more on AI-native financial infrastructure.
Nick O'Neill says the tech behind the biggest assets in crypto is essentially stagnant.
We love the narrative that everything is revolutionary.
But the reality is that the actual software hasn't changed in years.
"Let’s be honest, this technology sucks."
The real value isn't the code; it’s the fact that the asset is durable enough to survive and persist in an unforgiving market.
While other technologies have been invented and deployed within a single lifetime, some have succeeded and some have failed.
If you are betting on the "tech" as the primary investment thesis, you are ignoring why this asset actually stays standing
Senor Tilt moving all-in with the 100% lock, and Kevin Hart is left playing detective at the table.
That slow call hurts to watch. Down $97.5K just like that
using fifa as a worthy example
The biggest startup killer isn’t competition or funding.
It’s founders quitting too soon.
In this Kevin WSH interview, the Kalshi founder explains why solving a real problem matters less than surviving long enough for the world to notice.
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
The biggest startup killer isn’t competition or funding.
It’s founders quitting too soon.
In this Kevin WSH interview, the Kalshi founder explains why solving a real problem matters less than surviving long enough for the world to notice.
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
Traditional media gets paid for attention.
Prediction markets get paid for accuracy.
In this Kevin WSH interview, the Kalshi founder explains why financial incentives could create a better way to discover the truth.
@Kalshi
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
Kalshi isn’t just building prediction markets.
It’s building a future where finance, media, and forecasting merge.
As the Kalshi founder explains in this Kevin WSH interview, the future of information may be probabilistic.
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
2000 days of showing up
with no results and no validation.
That’s the part most people skip
when they romanticize entrepreneurship.
— @mansourtarek_ on @KevinWSHPod
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
The worst feeling is when people ask
how your “thing” is going…
as if it’s some random hobby
you’ve dedicated years of your life to.
— @mansourtarek_ | @KevinWSHPod
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
2000 days of showing up
with no results and no validation.
That’s the part most people skip
when they romanticize entrepreneurship.
— @mansourtarek_ on @KevinWSHPod
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
There’s no first-principle reason
why the US should be different
from the offshore market.
We’re bringing regulated perps to America.
— @mansourtarek_ | @KevinWSHPod
E174: Tarek Mansour - Launching the First Regulated Perps In The U.S and building the next generation of financial markets
@mansourtarek_ is the co-founder and CEO of @Kalshi, the first regulated prediction market exchange in the US, valued at $22 Billion. He grew up in Lebanon with a single mom, studied at MIT, worked at Citadel, and spent 6 years years building a company most people ignored before it finally took off. We talk about what it actually takes to not give up, why markets are better at finding truth than experts, why Kalshi is launching the first regulated Perps in the US, and how his team is building what he calls the next generation of financial markets.
Timestamps:
0:00 Intro
1:54 Urgency
3:11 Anime
4:53 Who is Tarek?
7:02 Mathematics & Certainty
9:10 Tarek's chip on the shoulder
13:33 Partnerships: @Trezor@Bitwise
15:19 Resilience
16:31 Entrepreneurship is Therapy
18:23 The startup emotional rollercoaster
22:16 Showing up for 2000 days with no results
24:45 First time Founder advantage
26:40 When Kalshi almost made it, but did not
29:54 Partnerships: @KASTxyz
31:19 Focus Inputs, Not Results
33:16 The Kalshi beginnings story
36:00 The True Innovation Of Prediction Markets
38:28 How Prediction Markets Revolutionize The Media
41:37 Prediction Markets and Hedging explained simply
44:55 Leverage In Prediction Markets
47:16 Partnerships: @JupiterExchange@ethena
48:00 Insider Trading
51:19 Insider Trading Rules enforcement: who is responsible?
55:26 How Kalshi spots Suspicious Behavior
56:59 Tarek's Honest View On Crypto
59:41 Launching the first Regulated Perps In The U.S
1:00:30 What Does Regulated Perps Mean?
1:02:22 Was Kalshi perps launch inspired by Hyperliquid?
1:03:41 Competition
1:05:58 Kalshi Endgame
1:07:06 What is Kalshi doing with the billions of $ they raised
1:08:31 Happiness and engagement
1:13:08 One Thing Tarek Should Let Go Of
1:14:18 Closing Thoughts
It’s not every day you see a tech titan get leapfrogged on the billionaire list, but Michael Dell just pulled it off.
He has officially flipped Mark Zuckerberg in net worth, a move driven by the ongoing AI bubble pushing tech stocks to new heights.
It is the kind of situation that makes you stop and really question how these valuations are moving so fast, with Nick openly joking that he could certainly use an extra $240 billion for himself.
"He just flipped Mark Zuckerberg, are you kidding me?"
This isn't just about rankings; it’s a direct reflection of how aggressively capital is flowing into the AI sector.
While it's easy to get caught up in the celebrity of it all, the real story here is the sheer velocity of the current tech cycle and how quickly the hierarchy of wealth can shift when the market decides to pump.
Nick says Wall Street is meeting Hyperliquid in a way that signals a major shift in how we track market data.
The biggest mistake traders make is relying on outdated charts while the next generation of finance is already flipping the market leaders.
The sheer scale of assets like Hyperliquid, which has surpassed $63 billion in fully diluted market cap, proves that traditional tracking methods are becoming obsolete.
The irony is that while the broader market remains volatile, decentralized platforms are quietly flipping established heavyweights like Solana in volume.
"What we got here is Hyperliquid, it's 63 billion, massively flipping Solana."
True market dominance is no longer about legacy status; it belongs to the protocols that can handle massive liquidity with enough transparency to keep the smart money engaged.