Native Bitcoin-backed borrowing is live on Public Testnet with @aave v4.
Powered by Babylon Trustless Bitcoin Vaults, users can post Bitcoin as collateral and borrow without giving up custody, wrapping, or bridging.
This is the latest step in building native Bitcoin-backed credit markets.
My first interview w @sulaimanghori, Member of Technical Staff @xAI.
0:41 WTF is happening at xAI
1:46 Predicting future bottlenecks
3:05 Shredding conventional timelines
4:23 Experience joining xAI
9:23 Bootstrapping off the Tesla network
11:59 What is Macrohard
13:14 How Elon deals w fires
16:30 What it’s like working at xAI
20:33 Cybertruck bet with Elon
21:12 Using 80 mobile generators + battery packs to balance load at their data centers
22:45 How they built Colossus in 122 days
23:35 Work backwards & figure out the highest leverage thing you can be doing
25:51 How xAI hires
30:27 Challenging requirements
32:46 Experimentation
34:55 How Elon recalibrated his timeline estimates
39:15 AI engineers vs AI researchers
40:36 No one tells me ‘no’
42:09 Everyone’s an engineer
44:06 Why fuzziness between teams is an advantage
48:25 Testing human emulators as employees
50:00 Biggest blunders
53:23 What a meeting w Elon is like
54:22 How Elon gives feedback
56:44 Figuring out ‘what is truth’ for Grokipedia
59:21 What happens when Elon sees wrong Grok outputs on X
1:00:08 What a surge feels like & operating in xAI’s war room
1:02:53 Making fidget spinners & 3D printers in his bedroom
1:08:48 Creating a liquid fuel rocket engine
Jeff Sprecher, founder and CEO of $ICE (owns the NYSE) on Hyperliquid:
"This Hyperliquid that we're talking -- if you haven't heard about it, it's bigger than NASDAQ, okay? It's 11 people. You look at it, you're like, wow, that's pretty something."
If it wasn't clear before, hyperliquid:native has grown far beyond crypto. The incumbents have noticed, are paying close attention, and even spending time with the team
Bernstein excerpt below and worth the read imo:
The first novel Spoke implementation proposal for Aave V4 by the Babylon team introduces trustless BTC collateral on Aave V4 without Bitcoin ever leaving the Bitcoin network.
Babylon already has over $4B in BTC staked, which is expected to be used as collateral on Aave.
If people want to understand what synthetics mean to me in this context, see the staff statement on tokenization, which distinguishes tokenized versions of issuer-sponsored stocks and of stocks that SEC-registered firms hold for their customers from synthetic instruments that provide exposure to stocks. https://t.co/XvVmjndGR5
BlackRock is plugging BUIDL (its $2.5B money market fund) into @okx, with @StanChart as custodian.
Traders can now use BUIDL as collateral to trade and keep earning Treasury yield instead of letting cash sit idle.