backpack exchange doing $100m+ annual revenue at a $60m market cap. 0.6x revenue multiple with 78% YoY growth. cross-asset collateral just went live, letting you margin trade tokenized stocks against crypto positions in a single account with 10 second settlement. coinbase trades at 15x revenue for comparison. BP has 75% of supply still locked which cuts both ways but the 20% exchange equity offer to 1 year stakers is a tokenomic structure i haven't seen anyone else attempt. MiFID II license, DTCC list for october, surpassed kraken perp volume with 25 pairs vs 391. the unified margin engine that runs perps, stocks, lending, and prediction markets through one liquidation waterfall is genuinely new infrastructure. zero fees all june is going to stress test whether user acquisition converts to retention once fees return
good chance that the hyperliquid gains translate into other defi bluechips, I think over the next quarter we will see revenue generating apps move up on leaderboards past L1s
Will share more on this soon. It’s been over three years in the making to get to this point, but the holy trinity has been achieved. The only other exchange in the world that has gotten regulated perps, spot, and payments live in the EU is Kraken. The other will be Backpack. We’re coming Europe.
[ DOOMER ]
ANTHROPIC LAUNCHES "AGENTIC ECONOMY FUND" FOCUSED ON INVESTING IN AREAS OF CRYPTO THAT ENABLE AGENTS TO PARTICIPATE IN THE GLOBAL ECONOMY: BBG
I've submitted 3 small PR's to solidity that speed via-ir compilation up about 11%.
It's fun to learn about the insides of the compiler we all use, so let's tour each speed up. 1/7
Introducing DARC: the Digital Asset Risk & Compliance Standard.
Built by @Wonderland in collab with @_SEAL_Org, DARC is an opsec standard with 250 controls continuously monitored across your GitHub, cloud infra, multisig wallets, and more.
Running every day, automatically.
when people say crypto has become a casino, in reality it is their first step in realizing that the global financial system we are replacing always has been a casino