100x T-Rex

Survived Cretaceous–Paleogene Extinction and then Invested in Crypto.

Trying to left-curve it this time.

[Clemente @clementetv_]

Owning hyperliquid:native is like finding the perfect girl after getting cheated on for years

It feels too good to be true.

You've gotten hurt so many times - why should this time be different?

But she's perfect.

Token buybacks. A founder that cares. True PMF. Price goes up.

She treats you right.

So you let yourself believe one more time.

And you hold.

Because what's the point of all of this if you don't believe in something?

[PerpetualCow.hl @PerpetualCow]

Been thinking about hyperliquid:native at $72 and the more I think about it, the more obvious the trade becomes.

Most people still regard Hyperliquid as a "perp DEX" that could "maybe kill Binance".

Hyperliquid is absorbing so many businesses, it's crazy to actually list them all.

Start with CEXs, the obvious play that everyone knows.

There is no reason to touch a CEX in 2026 anymore, the market has already acknowledged that.

CZ knows he's cooked and Binance won't survive, which is why he tried to make Aster a success. FAILED.

BNB to be absorbed alone is a $95b valuation that HYPE could eat.

But Hyperliquid is a far better product than CEXs, everyone knows that at this point.

On Hyperliquid you can deposit and withdraw spot tokens freely.

No "we've paused withdrawals," no proving your funds exist, no need to pray the exchange is actually solvent.

Binance, Coinbase, the whole cartel, they're offering a worse product with more counterparty risk. That entire business is getting absorbed.

Then the next play is HIP-3..

Permissionless markets, any asset, instant settlement, plugged into billions in existing liquidity.

Equity perps, treasuries, RWAs, all live.

The entire tradfi stack is coming on-chain, stocks, bonds, commodities, FX etc.

And it's settling on Hyperliquid, this is ALREADY HAPPENING.

Onramping to Hyperliquid is easier than a brokerage.

If you have ever tried opening a brokerage account in 2026 you will know what I mean.. the endless questionnaires.

Risk "appropriateness" tests, settlement delays, NO TRADING ON WEEKENDS OR AFTER-MARKET HOURS EVEN.

Hyperliquid is 24/7, settles instantly, and your margin actually earns.

It's a strictly better product.

It's only a matter of time until tradfi gets their lunch eaten, ALL BROKERAGES WILL DIE AT THE HAND OF HYPERLIQUID.

Then HIP-4 dropped and went straight for prediction markets.

Polymarket and Kalshi, fully onchain, with orderbook depth they can't match.

Still early phases I admit but so was HIP-3 when it first came out and now it does billions of volume daily.

So actually add up the addressable market.

Every centralized exchange, every prediction market, every sportsbook, every stock broker, every futures and FX venue.

What could the potential valuation of hyperliquid:native be?

TRILLIONS.

It's a business with a truly infinite upside potential/ceiling for once, it's extremely hard to find anything similar to it.

The last real bear case was legal risk, I could understand that.

But that's GONE NOW.

The CFTC has cleared the path, Hyperliquid is operating fully legal.

And the core reason it wins: composability requires shared state.

You can only build money legos on one execution layer.

Not across a dozen fragmented chains and bridges that turn into attack vectors.

Ethereum set out to be the settlement layer for all of finance, it couldn't execute.

Hyperliquid is becoming exactly what ETH was supposed to be.

The best products win in the end.

All roads lead to hyperliquid:native.

[Hyperliquid Policy Center @HyperliquidPC]

Today, Bloomberg reported on certain incumbent traditional exchanges raising concerns about the integrity and impact of markets for perpetual derivatives on Hyperliquid.

These concerns are unfounded.

Hyperliquid offers enhanced market transparency, publishing a complete onchain record of every transaction in real time, making it a uniquely hostile environment for insider trading or price manipulation. Hyperliquid’s transparency serves as a strong deterrent for misconduct and facilitates surveillance, detection, and investigation by regulators and law enforcement.

Hyperliquid also offers 24/7 trading, an innovation that substantially increases market efficiency. Prices move whether traditional exchanges are open or not. Continuous trading eliminates gaps and discontinuities between legacy market hours, improving price discovery for all participants.

Bloomberg correctly reports that U.S. law is not currently tailored for derivatives markets on public blockchains like Hyperliquid. We look forward to continuing our work with policymakers in Washington to bring onchain markets inside the regulatory perimeter.

[Basit @basit_]

https://t.co/Zf7VJOvejp

[kmoney @kmoney]

bro has arguably the worst pfp you could ever have while being accused of murdering your fiancée

[Honu @HonuIsATurtle]

'look i know i fumbled this cycle by not selling again and i know i missed the entire metals and semiconductors and energy trade but ive been experimenting with opencla...'

'peter im getting married'

[Balaji @balajis]

LIQUIDATION CONTAGION

Wealth taxes are even worse than you think. Any asset held by Californian billionaires or Dutch citizens is now at risk of experiencing forced liquidation pressure.

So: it’s not just that you don’t want to hold assets as a Dutchman. You also don’t want a Dutchman to hold your assets. Because the logic of forced liquidation is contagion.

Let’s think it through.

(1) First, suppose there is an asset with a total market cap of $10,000, with 10 shares total, of which 1 share each is held by 10 different holders, all in the Netherlands. To simplify the math, assume the Dutch holders bought those shares at par, or close to $0.

(2) Now suppose today is the unrealized cap gains tax day, and the share price is $1,000 per share. Each Dutch guy is hit with a 36% tax, and owes $360. The first guy sells his one share, gets $1,000, and pays $360 in tax while retaining $640.

(3) But the first guy’s sale reduces the market price to $960 per share. So when the second guy sells, he only retains $600 after paying $360 in tax.

(4) Now assume that by the 7th guy, all the selling has pushed the share price to collapse to $200 per share. This is a very reasonable scenario if 60% of the cap table has suddenly been dumped. Indeed it might go much lower.

(5) At $200 per share, the 7th guy actually has to go into debt to pay the tax as he owes $360. He sells his one share, pays all $200 of the proceeds in tax. And still owes $160 more in tax.

(6) The 8th, 9th, and 10th guys are even more screwed. By the time they sell, the price will likely have crashed to $100 per share or less. As with the 7th guy, even 100% liquidation will not cover their tax burden.

(7) So we immediately see many negative things about the Dutch unrealized cap gains tax bill.

(a) First, it will cause large simultaneous forced liquidations. Everyone must sell 36% of their stake near the same time.

(b) Second, it may be literally impossible to pay if a critical mass of the cap table is all subject to it at the same time. In the example above it was 100% Dutch holders, but has it been just 60% the result would have been much the same: a collapse in the share price.

(c) Third, that means it would be disastrous to have too many Dutch citizens (or Californian billionaires!) on the cap table. Their forced sales will crash your share price.

(d) So, you might have to start mass blocking those resident in wealth-taxing jurisdictions from investing in your companies.

(e) This in turn makes the poor Western European guy even poorer, as he gets locked out of high growth assets.

To be clear: I really do feel bad for the formerly Flying Dutchmen, now Crying Dutchmen. They invented much of modern capitalism. They founded New Amsterdam, now New York. They’ve punched way above their weight. I wish them only the best.

Nevertheless…they should prepare for the worst. This may be a tough century for Western Europe. The first ones out might get to freedom, while the slowest may be stuck behind a new Iron Curtain, spending a century paying off the debts their states incurred over the last century.

Because the long run fruits of Western Keynesianism are the same as Soviet Communism, in the sense of wealth seizure and pauperization.

I mean, if you knew the future, you wouldn’t want to co-own a farm with a Russian in 1916. For similar reasons, you might not want to co-own a share of stock with Dutch national in 2026. Or with anyone in a seizure-curious jurisdiction…which unfortunately includes much of Western Europe, Canada, and Blue America.

You instead want assets that are not held by those subject to forced liquidations. Now, I grant that this is an unusual way to rank assets…Dutch holders considered harmful?!? Yet it might sadly be necessary to minimize your exposure to liquidation contagion.

PS: guess which crucial stock is most held by the Dutch? ASML. So: this unrealized cap gains tax may not literally be a communist plot, but it would have the same effect.

[gainzy @gainzy222]

gratuitous chart of bitcoin

interact to influence the algo to show more crypto on your timeline

need more people posting charts with tickers and keywords

i click like on every crypto related tweet at this point because if i go 12 hours without doing it they all disappear

[Dev @devyn_distasio]

Only 996 I recognize

[Peapods Finance @PeapodsFinance]

1/ Revenue Thread - July Update:
Which DeFi protocol earns the most per $ of TVL?

Last month, Peapods topped the chart.

This month? Still #1 and now up to 29x more efficient than other top DeFi protocols!

Let’s dive into the numbers 🧵

[Eric Balchunas @EricBalchunas]

$IBIT blew through the $80b mark last night, fastest ETF to get there in 374 days, about 5x faster than the previous record, held by $VOO, which did it in 1,814 days. Also at $83b it's now 21st biggest ETF overall.. via @JackiWang17

[Omar @TheOneandOmsy]

The Tether hit piece in The Economist is unintentionally some of the best marketing copy you'll ever see (includes bangers like: "Tether’s efficiency makes money-laundering so easy anyone can do it"):

- On Tether's Original Conception: "It was originally intended as a gateway to the crypto ecosystem, but it proved to be far more than that: it set money free."

- On How Tether Works: "You convert your dollars, pounds or euros into tether, then transfer the tether to your mother on the other side of the world; she converts it into the local currency and can spend it on food, rent or anything else, without the banks keeping a big chunk of what you’ve given her. Who wouldn’t want that?"

- On Tether's Value Prop: "You can use it as you would a dollar, but without any of the checks and scrutiny that come from moving actual dollars around. It is the financial equivalent of being able to turn up at the airport, open a secret door and go straight on to the plane, without any X-rays, passport inspections, customs controls or intrusive questions."

- On Tether Reserves: "In January 2025 it owned bills worth $113bn. If Tether were a country, it would be between South Korea and the United Arab Emirates in the list of foreign holders of American debt."

- On Tether's Scale: "In 2024 the company issuing tether made profits of more than $13bn, almost twice as much as BlackRock, the world’s largest asset manager. Considering it has only around 150 employees, Tether may well have the highest profit per employee of any company ever."

- On Tether's Efficiency: "Money-launderers traditionally ask for at least a 10% cut of the sums they are cleaning. As far as British law-enforcement analysts can work out, Zhdanova was charging her clients less than 3% on each transaction. Tether’s efficiency makes money-laundering so easy anyone can do it."

- On CEO Paolo: "Ardoino, a crypto-expert who joined as chief technology officer in 2017 before rising to become the public face of the company six years later, is a handsome Italian who dresses in stealth-wealth casuals. He speaks enthusiastically about what Tether does, without the jargon and arrogance often displayed by the promoters of other cryptocurrencies."

- On Tether's Paolo Banking the Unbanked: "He is right that access to the formal financial system can be very difficult and expensive for people in developing countries. If they work abroad and want to send small remittances to their families for example, money-transfer companies will typically take a cut of about 10%. A tether transaction costs just a fraction of that."

- On Tether's Regulatory Status: "There aren’t many other products that are as useful to criminals, and as much of a threat to the financial system, that have been allowed to flourish with so little regulation."

- On Tether's Regulatory Moat: "law-enforcement agencies are reluctant to speak against the company even if they don’t need its co-operation currently, in case it comes back to haunt them when they need it in the future."

END: GGWP Tether

[Phantom @phantom]

Introducing: Phantom Perps 👻 ♾️

Go long or short in just a few taps.

100+ markets. Up to 40x leverage. All in your pocket.

Powered by @HyperliquidX

[ً @trading_axe]

One thing I often think about is how LOYAL your mind is to you.

If you tell your brain something, it won't ever question you.

Tell your mind that you're a failure, it'll believe you.

It'll start scanning for proof, reflecting on all your past mistakes, weaknesses and any moment you've ever given up.

CTRL+F: "Failures" in your mental archive.

It doesn't do this to break you or to be cruel,

It does this to be LOYAL and HELP YOU, following orders.

Your brain doesn't THINK FOR ITSELF, it only obeys.

It's like a "yes-man" in your corner 24/7.

If you say you're broken, it'll find the cracks.

People often say, "Your worst enemies are the friends who enable your bad behaviour."

But your real worst enemy is your own mind.

You need to operate doing EVERYTHING thinking you're the best and untouchable.

Your biggest "yes-man" will make you see why that's true.

~ Dr. Axius.

[100x T-Rex @Rex100x]

@danielesesta 🫢

[Blur @BlurCrypto]

Coinbase stuff is pretty bad

Phone, email, etc. is whatever (probably happens more often than we realize)

But addresses, balances, photo ID, is just asking for users to be hunted

Would be completely done with CB after this, but the new 4H candles are keeping me there for now

[blocmates. @blocmates]

Internet capital markets - the new meta? ⚡️

Here's @Grantblocmates with everything you need to know: what it means, what it is, the tokens, who the players are, etc.

Whether you think it's trash or a new paradigm, if you're serious about this space, it pays to have your finger on the pulse with this stuff.

///

Timestamps:

00:00 Introduction to Internet Capital Markets
00:42 Understanding the Concept
02:48 Key Platforms and Players
03:37 Tokenization and Its Implications
05:15 Case Study: Believe Platform
06:21 Market Trends and Analysis
13:00 Tools and Resources
14:35 Conclusion and Final Thoughts

Linking to YouTube in the next tweet.

[Dan Held @danheld]

The fact we're taxed on phantom gains (inflation) and that everyone is seemingly ok with it is mind blowing.

(ex: If your asset rose 10% in value but inflation was 10% you had no real return, but you pay cap gains on the appreciation)

[Vivek Sen @Vivek4real_]

MICHAEL SAYLOR JUST REVEALED HOW HE USED AI TO BUY OVER $50 BILLION #BITCOIN

THIS IS WILD!!!