Gerald Wong

| Prev @bigbrainvc @Blockchainff @Syndicaterip @DigiFTTech | correlation != causation

[Gerald Wong @Rndom31]

Great read

[Jukan @jukan05]

Taiwanese semiconductor analyst Andrew Lu’s take on the recent scandal involving Jensen Huang:

Why the US Seized on the Scandal to Draw Its Sword: Three Strategic Objectives

The purpose of this scandal is by no means to expose an affair. It is to force through three critical objectives that had made no headway in the tech war between the US and China because Jensen Huang opposed them.

The first cut: Completely destroy the legitimacy of Jensen Huang's lobbying against sanctions in Washington

Over the past two years, the loudest and most influential business leader in Silicon Valley opposing a total ban on chip exports to China has been Jensen Huang. He has told the White House the same thing all along: "Cede the Chinese market to Huawei, and the only one that ends up dead is the American tech industry."

But the moment US intelligence labels the woman named as Huang's affair partner "a spy working for China's Ministry of State Security who sought to steer the US toward easing its chip controls," every bit of lobbying he has done for looser controls takes on an entirely different political meaning. It becomes a national security matter, raising the possibility that a foreign spy used a secret relationship to exert influence.

Huang can no longer say a single word in defense of the Chinese market before Congress or the White House. If he does, he will be branded as someone who "fell for an intelligence operation and still hasn't come to his senses."

The second cut: Reverse the H200 export approvals for China and sever the link between Chinese shell companies and Southeast Asian smuggling networks

Look at the timing of the two reports.

On November 8, the very day the Jensen Huang scandal broke, The New York Times published an investigation for which its reporters went in person to dozens of Chinese companies that the US Commerce Department had approved to handle Nvidia's H200 chips. New Matrix in Beijing was one of them. According to the report, the registered addresses of companies approved to buy the chips turned out to be empty "ghost offices," and some of the companies had close ties to entities on US sanctions lists and to firms under contract with the Chinese military.

One exposé says Nvidia's CEO was having an affair with a female spy from Megaspeed, the Singapore company that handled the chip smuggling. The other says the Chinese companies Commerce approved to buy H200s are nothing but shell companies trading on behalf of the Chinese military. The aim of these two reports is clear. They are meant to pressure the Trump administration and the Commerce Department into fully revoking or freezing H200 export approvals for China and, going further, to force a sweeping overhaul of the loophole that let chips be diverted through data centers run by third parties in Singapore and elsewhere in Southeast Asia.

The third cut: Put Nvidia on a national security leash through congressional oversight and an independent investigation

As the world's largest company by market cap and the dominant force in AI, Nvidia has until now enjoyed broad autonomy in how it runs its business. But in the wake of this incident, the three congressional committees responsible for China, foreign affairs, and intelligence have begun examining Nvidia's internal security measures directly. They have even pressured Nvidia's board into forming an independent investigation committee to look into the company's own founder and CEO.

In effect, Washington's national security establishment has planted a watchdog right inside Nvidia's board. From now on, the goal is to make sure that everything, down to where each and every one of Nvidia's high performance chips ends up, conforms strictly to US national security strategy. It also means there is no more room for skirting the edge of the rules or releasing chips with specs specially tailored to regulatory thresholds.

Conclusion

"The scandal was a detonator set off right on cue. The real goal was to plug the holes chips were leaking through."

Jensen Huang made the fatal mistake of letting his guard down in his private life and personal relationships. In the end, he fell into a honey trap, the textbook tactic of intelligence warfare, and was compromised. America's national security and intelligence agencies ruthlessly exploited the weakness his private life had exposed. As a result, they solved three thorny problems in a single stroke: Nvidia's lobbying at the White House to ease restrictions on China, the flow of H200 chips into Chinese shell companies, and smuggling routed through Singapore.

The closed congressional hearing set for November 18 will be the decisive turning point at which the US moves in earnest to tighten its sanctions on China's AI compute even further.

[Gerald Wong @Rndom31]

This is insane

[MrBujok @BujokMr]

** IMMINENT STOCK MARKET CRASH OCTOBER 26, 2026-NOVEMBER 9, 2026 **

I am writing this message to give a detailed analysis, as to what I believe will be happening starting Monday October 26, 2026, and the main event to take place the following Monday November 2-3, 2026, with the bottom of the crash coming on November 9. I also want to explain what I believe the Federal Reserve is going to do as a means of trying to fix the crisis, and how it is going to lead to the end of the U.S dollar, bringing about a sovereign debt and currency crisis. This crisis will be the main focal point and issue that the Democratic Party is going to run on in the 26' midterms and the 28' elections, undermining the Republican Party and Donald Trump's populism, and eventually using it to try to usher in Communism, via a World Economic Forum/Black Rock policy and vision.

[Gerald Wong @Rndom31]

Most of us made the false assumption that blockchains would be the preferred rail for agentic payments but I really like Circle’s approach to this

They’re serving the end state of agentic payments - financial transactions that needs to be enforced by smart contracts, agent to agent payments, micro transactions where using traditional rails doesn’t make sense

It is hard to predict the future but Circle seems to be positioning themselves for net new payment categories that hasnt emerged yet

[Circle @circle]

Circle Q3 2026 Earnings Call https://t.co/Er3tD0EXB7

[Gerald Wong @Rndom31]

@Cryptophileee @rektpenguin @wintermute_t i think you should delete the original post it’d only be fair to that poor dude lol

[Gerald Wong @Rndom31]

This is crazy

[Chainalysis @chainalysis]

Our investigators are observing never-seen-before laundering patterns with the stolen funds from the Binance exploit. Thousands of transactions in a short period suggest that the attackers are using automation to obscure the trail of funds. Rather than simply moving funds onward, they repeatedly circulate them among addresses, often sending funds back to addresses involved earlier in the sequence.

Read more: https://t.co/PJ71R2dxnS

[BLANEY @cryptoblaney]

The Binance hacker might have just pulled off one of the smartest moves I’ve seen in crypto.

First, Tether froze $1.5 billion in USDT.

Then Circle froze another $800 million in USDC.

At that point, it looked like the hacker’s money was trapped.

But apparently, he had already planned for that.

Instead of holding the stolen USDT in a wallet, he allegedly deposited it into Aave and used it as collateral to borrow ETH.

Then he walked away.

That’s where the story gets crazy.

Tether can freeze the USDT sitting in the wallet.

But it can’t freeze the ETH he already borrowed.

So now Aave is left holding frozen collateral, while the hacker is sitting on liquid ETH.

And unless the protocol can recover it somehow, he may not even need to pay the loan back.

Two companies froze billions of dollars in seconds.

But someone who understood how to use DeFi may have found a way around both of them.

Pretty insane when you think about it.

[Gerald Wong @Rndom31]

@HadickM @dragonfly congrats!

[Gerald Wong @Rndom31]

@hosseeb @HadickM @tomhschmidt @dragonfly wow congrats :)

[Gerald Wong @Rndom31]

@jbrukh hey jake ive dropped you a dm

[Gerald Wong @Rndom31]

Marc called it in April btw

[Marc Andreessen 🇺🇸 @pmarca]

Frontier models become more expensive to serve. Token demand explodes at exponential rates. Solve for the equilibrium.

[Gerald Wong @Rndom31]

@brezshares in fact, actually bullish that the lab entity received funding and any growth in the labs funnels attention back to $PRL itself

[Gerald Wong @Rndom31]

My take on this is that this caps the fdv ‘ceiling’ for $PRL as a token. If you hold the token you’re effecitvely long $PRL as a SoV + potential future use cases tied to the token such as verifiable inference, compute marketplace, agent payments, and compute accounting.

This is still a net positive because any growth in the entity side of the labs will bring attention to the token itself.

So take it as the entity ‘part’ of $PRL is taken out of the equation

[⏢brianbreslow @brezshares]

Nipping this one in the bud right away.

Pearl is a fair launch L1. There is no equity / token split.

Pearl Research Labs is an equity business AI lab, completely separate from the token. The only way to acquire Pearl is to mine it, or buy it from a miner.

This is no different than the multitude of Bitcoin core contributors that built and raised for projects on top of Bitcoin after launch, for example Lightning network or Blockstream.

IMO it makes total sense that there will be things built on top of Pearl. This is very different from the typical equity / token split concerns that emerge when holding a token is meant to represent interest / exposure to a business

[Gerald Wong @Rndom31]

@brezshares exactly, people who bought the token had zero expectations of value accrual from the labs because the main thesis is SOV

which is why i stated the raise is a nothing burger that adds a cap to the fdv ceiling

[Gerald Wong @Rndom31]

@akshaybd @DegenMack finally!

[Gerald Wong @Rndom31]

@decircusmaster watch the movies too

[Gerald Wong @Rndom31]

@KeliCallaghan hey keli i’ve dropped you a dm

[Gerald Wong @Rndom31]

@jords @Branche_SC cmon you look great

[Gerald Wong @Rndom31]

@arrington hey michael i’ve dropped you a dm, would appreciate if you could take a quick look

[Gerald Wong @Rndom31]

Really enjoyed the @arthur0x lore, and especially his take on the anti-fragility of crypto

We should’ve gone to zero as an industry many times in the past but we’re still here today

[Taiki Maeda @TaikiMaeda2]

Interview with @Arthur0x discussing the highs and lows of running a liquid crypto fund, and how he expects the next crypto bull market to play out.

0:00 Bull Market or Bear Market?
3:40 Running 8 Figs to 9 Figs in 2020-21
11:57 Drawing Down 90% in 2022
23:12 Bull Market Playbook
33:15 $ZEC and Bitcoin
41:30 Is $HYPE Overvalued?
48:50 Why $NEAR is this Cycle’s Winner
56:00 “You’re Only as Good as Your Last Trade”
1:01:38 Are Great Traders Born or Made?
1:07:38 Identifying Edge & Position Sizing
1:15:22 $100k to $1M and $1M to $10M
1:21:00 How to Make it This Cycle