David Yang

📥| Crypto Investment 🏄‍♀️| Crypto Lifestyle 📓| Honorary Doctorate in Finance 🏡| Director of David Justin Academy 📑| Director of MDL Distribution S.B

[David Yang @davidyang_dj]

Saylor's model worked perfectly in a bull market.

But STRC hit $82.50 (designed to be $100) while MSTR is down 32% from highs. This is the stress test nobody stress-tested.

Preferred equity dividends don't care if BTC pumps or not. You still have to pay them.

Bitcoin treasury companies built a structure that only works in one direction. The market is now asking what happens in the other.

[David Yang @davidyang_dj]

Claude Opus 4.8 found a 4-year-old ZEC bug in 24 hours.

Think about what that means for every protocol.

AI can burn unlimited compute attacking ONE target. Security teams have to protect hundreds simultaneously. The economics completely favor the attacker.

The ZEC supply might have been quietly inflated for 4 years. Nobody knows. That's the scary part.

Every crypto protocol with complex cryptography is a ticking clock. Whitehats need to AI-audit their own code NOW. Before the blackhats do it for them.

[David Yang @davidyang_dj]

Arthur Hayes sold his entire HYPE and NEAR positions before his own price targets hit.

Burned everyone who followed him in.

Here's the thing: no one owes you their trade. When a KOL publishes a bullish call, they've already positioned. You're last.

The lesson isn't "don't trust Hayes." It's this: use their research. Never use their signals.

Form your own thesis. Or pay the price.

[David Yang @davidyang_dj]

Everyone is asking which L2 dies next. Wrong question.

The right question: what actually survives?

Not 'another EVM chain.' Winners are chains tied to real businesses. Payments. Tokenized assets. Exchange user bases.

Vitalik said it himself: L2s aren't scaling Ethereum. They're application platforms.

General-purpose L2 era is over. App chains win. Base and Arb already own 80% of TVL. The rest is noise.

[David Yang @davidyang_dj]

Fear & Greed at 12. BTC down 17% in 4 days. Everyone panicking.

Meanwhile Fannie Mae just closed the first government-guaranteed mortgage backed by Bitcoin.

The U.S. government now officially recognizes BTC as collateral for a home loan. Not a startup. Not DeFi. Fannie Mae.

Retail is scared. The infrastructure is being built.

[David Yang @davidyang_dj]

Everyone's watching BTC crash and panic selling.

I'm watching Mastercard announce stablecoin settlement across $9 trillion in annual transaction flow. USDC. RLUSD. PYUSD. On Solana, Base, XRP Ledger.

The price going down is noise. Stablecoin rails getting embedded into global payment infrastructure, that's the actual signal. Bear markets are when the real work gets done.

[David Yang @davidyang_dj]

BTC at $64k. Fear and Greed at 11. Everyone's asking if this is the bottom.

Wrong question.

Real question: does BTC behave like gold when wars actually start? In 2008, gold went UP. Today institutions still hold BTC as a risk asset. When Strait of Hormuz gets blockaded and oil hits $120, their models say sell.

BTC becomes digital gold the day allocators stop treating it like Nasdaq. We're not there yet.

[David Yang @davidyang_dj]

Saylor sold BTC for the first time since 2022. 32 coins. To pay a dividend.

Twitter calling it betrayal. But the real problem: he layered TradFi obligations on a crypto asset. Fixed dividends don't care what BTC price does. When price falls, the liability stays.

The crack isn't Bitcoin. It's the debt wrapper around it.

[David Yang @davidyang_dj]

Why is BTC down 7% while Nasdaq hits all-time highs?

Capital rotation. AI stocks now have a government procurement story. NVDA and Anthropic are quasi-defense contractors. SpaceX and Anthropic IPOs incoming. Crypto has no comparable catalyst right now.

Summer might be rough. But Fear and Greed at 23 with institutional setups building quietly... that's where the next cycle seeds get planted.

Strive bought 2,500 BTC at $74K averages while everyone panicked. Smart money doesn't tweet. It buys.

[David Yang @davidyang_dj]

Strategy sold 32 BTC. Out of 580,000. That's 0.005% of their stack. But BTC dumped hard.

Saylor's brand was built on one word: never.

Narrative damage is real damage. In crypto, identity IS the product. Crack the story, trust is the hardest asset to rebuild.

Don't build your brand on an absolute you can't keep.

[David Yang @davidyang_dj]

Hyperliquid priced in 80% of the WTI crude move BEFORE CME even reopened.

US-Israel-Iran tensions hit over the weekend. Oil perps on Hyperliquid exploded from $25M to $550M notional. Traditional markets were still closed.

CME and ICE are now lobbying regulators to shut them down. When incumbents run to government for protection, the disruptor is winning.

[David Yang @davidyang_dj]

Anthropic IPO at $1T. OpenAI coming. xAI at $1.75T.

2026 is the year AI becomes publicly investable at scale.

People keep asking if crypto is the future. The real question: when AI infrastructure trades on Nasdaq, what happens to risk appetite for speculative tech?

My bet: AI legitimizes the asset class. Crypto catches the wave. The rising tide is real.

[David Yang @davidyang_dj]

Vitalik just proposed replacing CDPs with options as DeFi's foundation.

Most people skimmed it and moved on.

CDPs liquidate you. Suddenly. Automatically. It's a trap waiting to spring.

Options give you a defined exit price, not a price to get wrecked at.

The entire liquidation cascade problem, gone. If this gets built, DeFi stops being a casino and starts being actual infrastructure.

[David Yang @davidyang_dj]

Strategy sold 32 BTC. Everyone is panicking.

They hold 843,000 BTC. The sale was 0.004% of their stack.

That's not capitulation. That's dividend management.

But here's what nobody is saying: Saylor built a financial machine so complex it now sells BTC without him choosing to. The complexity is the new risk. Not the 32 BTC.

[David Yang @davidyang_dj]

S&P near all-time highs, 9 weeks straight up. BTC down 16% YTD.

They used to move together. They don't anymore.

Institutions picked AI and semis over crypto for growth exposure. The ETF narrative brought them in, something spooked them out.

BTC at 73k, volatility at 9-month low, Fear & Greed at 29. Dark pool panic sells.

Trap door or coiled spring. I'm betting coiled spring. This is the last shakeout.

[David Yang @davidyang_dj]

NYSE/ICE CEO just met Hyperliquid's founders and asked regulators if US exchanges can offer 24/7 perp futures.

The fight is over. Crypto won the product war. TradFi is just figuring out how to copy it now.

Hyperliquid did to stock exchanges what Robinhood did to brokerages, except faster and harder to stop.

[David Yang @davidyang_dj]

Someone paid $29.5M to exit BlackRock's BTC ETF fast.

$1.26B sold in a dark pool at a 2.3% discount. No matching CME trade. Not a basis unwind. The seller was bigger than any disclosed 13F holder.

That's not a trade. That's panic. Someone burned $30M just to guarantee they got out.

9 days of outflows. $2.8B gone. Fear & Greed at 28.

Who was so scared they couldn't wait for better prices?

[David Yang @davidyang_dj]

Everyone's worried about quantum cracking wallet keys. That's not the real threat.

Google flagged 'harvest now, decrypt later.' Adversaries are already capturing your encrypted exchange API calls and bridge signatures. Just waiting for quantum to catch up.

Ethereum has a post-quantum migration roadmap. Bitcoin doesn't. Google's deadline is 2029. That's 3 years away.

[David Yang @davidyang_dj]

BTC Fear index hit 23 yesterday. S&P just posted its longest win streak since 2023.

.8B pulled from BTC ETFs in 9 straight days. The institutional bid that carried 2025 is on pause.

But this isn't bearish conviction. It's waiting. Iran deal, Coinbase perps, legislation. Pick a trigger. When it comes, there's no seller left.

[David Yang @davidyang_dj]

The CEO of NYSE just called Hyperliquid "bigger than NASDAQ."

He's met the founders multiple times. When the guy who built the world's biggest exchange says an 11-person crypto team built something bigger, he's not paying a compliment. He's scared.

HYPE +19% this week. Still blocked to US users. Wait til that changes.