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Update today.
E159: @Hyperliquidx: Housing all of Finance
@chameleon_jeff came back on the When Shift Happens Podcast to talk about the Hyperliquid journey since the TGE and what the future holds for one of the most loved and prolific protocols in the space
Hyperliquid
Timestamps
0:00 Intro
2:01 Singapore
2:27 Reminiscing on the Token Launch
5:00 Was This Scale Of Wealth Expected?
6:28 Doing The Right Thing In Crypto
9:07 The Responsibility that comes with Billions of $
11:10 @JupiterExchange@KASTxyz
11:51 Bringing Hyperliquid to the masses
15:21 Pre TGE and Post TGE: Operational difference
20:13 Choices on what to build Internally vs Externally
22:05 How to build a reliable team
24:51 Did the Team celebrate the HYPE wealth Generation event?
26:45 How to test talents for High Integrity
28:31 How much does the Hyperliquid team sleep?
30:05 Employee Vesting Fears
31:41 Dealing with FUD
32:28 How Does Jeff Personally Handle FUD
35:02 Token "Buybacks" critics
37:20 Why Hyperliquid can't have Discretionary "Buybacks"
39:04 HyperEVM, explained Simply
40:00 @paradex@zodl_app
40:41 HyperEVM: Success so Far?
44:05 HIP-3, explained Simply
47:44 What makes Hyperliquid's approach different
48:19 Why Should People Care?
51:33 Bring All Finance On Chain
52:08 Why Is The Hyperliquid Approach Better?
53:47 Key Numbers showing that Hyperliquid Is Doing it right
59:01 What Has the @unitxyz team demonstrated with spot trading on Hyperliquid in 2025
1:03:29 HIP-4: Outcome Markets
1:08:01 @Trezor@bitwise@SuiNetwork
1:08:58 What does "Housing All Of Finance" mean?
1:10:51 Why Hyperliquid is not a crypto company
1:12:23 Why Does Hyperliquid have A Stablecoin USDH (@nativemarkets)
1:14:39 What Is @Kinetiq_xyz & Why Does It Matter?
1:16:15 Why Is What @Hyperlendx Is Building Important For HyperLiquid
1:23:39 Where did Fairness cost the most?
1:24:47 What should Hyperliquid be Remembered for?
1:25:24 Why should people stay in Crypto when there's an AI brain drain?
1:28:10 Closing Thoughts
ECONOMICS > POLITICS
No election can pay off America's $175T in debt.
Only the printing press can.
Because as Elon, Dalio, and others realize...the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility, they’ve also been lying about the economy. And so they're going to print a lot of currency. But take a look at the data and judge for yourself.
1) MORE EMERGENCY LOANS THAN 2008
First, did you know the Fed[1] made more emergency loans in 2023 than during the financial crisis of 2008? The banking system is on life support thanks to the US government first selling billions in bonds to financial institutions and then devaluing them with surprise rate hikes.
Just look at this graph from the Fed. The blue bump below on the left is the lending from the 2008 crisis — you know, that little old thing. The purple is COVID. And the giant orange/aquamarine monster on the right is the 2023 banking crisis. See how much higher it is than even 2008?
2) MORE BORROWING THAN COVID
Second, did you know the US is borrowing more[2] under the "Biden boom" than it did during COVID? Set aside whether a coronavirus should have been treated as a financial crisis. At least the COVID borrowing was at ~0% rates. But today the US government is borrowing historical sums of money in peacetime…and at 5% rates! This is the act of a desperate man maxing out his credit cards to pay his bills.
3) MORE INTEREST THAN DEFENSE
Third, did you know that all this borrowing has made interest payments on the national debt the single largest government expense? More than defense, or social security, or anything else[3a, 3b]. The number one thing all tax dollars (and printed dollars) now go towards as of 2024 are payments to bondholders. And even still, anyone who bought US Treasuries (or other bonds) got annihilated over the past few years.
For all the warfare and all the welfare, it was buy now pay later. And as you can see from the graph, the time to pay has come.
4) MORE DEVALUATION OF THE DOLLAR
Fourth, did you know that the dollar has lost at least 25% of its value in just four years[4a]? This one you probably knew from just your lived experience of inflation. But Larry Summers estimates[4b] that purchasing power has been eroded even more radically than this, with annual numbers hitting 18% if you include the enormous spike in loan payments due to rate hikes. Compounded over four years, that’d be considerably more than 25% of the dollar's value.
But wait, there's more. Six more graphs, and references. 👇