π Grayscale Research: Hyperliquid is the breakout success story of modern digital assets.
β³ ~$800M in 2025 revenue
β³ 8th largest crypto asset by market cap
β³ No VC backing
β³ Still geoblocked in the U.S.
Our latest report unpacks how it happened, and what's next.
Hyperliquid.
https://t.co/bS3TGy42U5
So let me start. DeFi is the future of the World Financial System. That's my belief, and this is why we are here.
This amount of absolutely preventable hacks we see in DeFi (with root causes attributable to CENTRALIZED points of failure) is enormous recently. This damages out industry, and I build for this industry. So I cannot remain silent.
Imagine an average grandma (mass adoption is here?) putting her life savings on Aave. And then BOOM, she cannot withdraw her funds on Monday. Aave (the biggest DeFi protocol btw) said it's operating as intended - just rsETH got exploited. rsETH said that all code is safu - just LayerZero bridge got hacked. LayerZero (the biggest bridge securing quarter of a trillion $) said that everything operating as intended. Yet, she cannot withdraw here funds. WTF? Are we industry of clowns?
But here's the thing. All issues like this should be prevented BEFORE they happen, not AFTER. Number of single points of failure should be reduced, not increased. When these points of failure are unavoidable - trust should be split. If there's a reliance on infrastructure - we should share best practices how to configure it. Not to mention that code should be very well checked - everyone gets that already.
We should probably come together and develop safety standards for DeFi. How to build safely, and how to verify safety. Probably everyone should bring their best practices, and the projects, auditors and risk assessment groups should know them. Maybe we need @ethereumfndn and @SolanaFndn bringing all the ecosystem projects to participate and come up with principles, rules and recommendations of safe building. And, perhaps, we can even learn something about protecting the few remaining centralized points of failure from traditional finance who have many more of those.
DeFi will win
@laurashin Why mention Hyperliquid in particular after Drift's hack? All of Defi should prioritize security, not just HL. Mentioning one particular project suggests vague FUD on your part.
Broadcasters that are running hoaxes and news distortions - also known as the fake news - have a chance now to correct course before their license renewals come up.
The law is clear. Broadcasters must operate in the public interest, and they will lose their licenses if they do not.
And frankly, changing course is in their own business interests since trust in legacy media has now fallen to an all time low of just 9% and are ratings disasters.
The American people have subsidized broadcasters to the tune of billions of dollars by providing free access to the nationβs airwaves.
It is very important to bring trust back into media, which has earned itself the label of fake news.
When a political candidate is able to win a landslide election victory after in the face of hoaxes and distortions, there is something very wrong. It means the public has lost faith and confidence in the media. And we canβt allow that to happen.
Time for change!
Thatβs it
Like for real
Bam Adebayo drops 83 points and I need to shut down a stupid narrative
EVERY FOUL THE WIZARDS COMMITTED ON BAM LAST NIGHT
Quick thread:
@blknoiz06 The biggest voices in crypto have ignored the dangers of a fascist oligarchy because they thought Trump would pump their bags πΊπΈ $BTC $ETH