RedSkull

We’re so back.

[𝕯𝖆𝖓𝖌𝖊𝖗 @safetyth1rd]

Vitalik proposing defi primitives

Last time I remember this happening was ten years ago

Love to see it

[simp 4 satoshi @iamgingertrash]

Continuously Learning
Local Machines

Are the end game

We’ve spent so long
in the idea maze

And we’re almost there
Just a bit more ..

[Bark @barkmeta]

Crypto is wild because you literally have no idea when opportunities will hit.

You could make nothing for years and then randomly make 6-7 figures overnight.

Nowhere else on earth can you realistically do this.

[Sam Hyde 🇺🇸 @wigger]

Hitting your kids is in the same category as circumcision, iPads, strict adherence to the CDC vaccine schedule---it is for Ns, goyim, and walmart pajama people. It lowers IQ (Straus, 1995), increases aggression (Gershoff, 2016), is less effective than a timeout, and requires escalation to keep working. The replies to articles like this are filled up with the Dumbest People Who Ever Existed saying "it worked for me" and then genuinely malicious and hateful morons dropping reaction gifs of like daffy duck swinging a belt

"EVERY STATE IN AMERICA ALLOWS YOU TO PHYSICALLY CORRECT YOUR CHILD. It's legal. It's fun. Bring it on." -- profile says: Cat Sanctuary Dad. Unyielding steel. Workouts, keto, cat chaos, anime rants. Godzilla, Gundam, Mazinger, Ultraman, classical art, manga.

If you hit your kids, you will create permanent emotional distance with the only person/people you could ever be that close to, not to mention sending them down the road of being as much of a lost fuckup loser as you are who will hit their own kids, or wont, but only after spending a decade figuring out why they reflexively apologize all the time.

[f(x) Protocol @protocol_fx]

First private stablecoin mint in DeFi history just happened.

Borrow without surveillance. This was supposed to be impossible.

$fxUSD is the first stablecoin you can borrow privately on @ethereum. Ever.

[Convex Finance @ConvexFinance]

TWO PROTOCOLS, ONE PATTERN

Today we discuss @fraxfinance and @protocol_fx.

Two independent DeFi protocols that Convex built on top of. Convex wrapped their ve-tokens to bring better yields to their LP holders.

That's the partnership. Let's break it down.

[RedSkull @RDSKLD]

https://t.co/xKWwYc46vz

[Wazz @WazzCrypto]

$7 Billion in outflows in 1 day for Defi

Yeah, we're cooked

[Nick O’Neill @chooserich]

It cannot be overstated how big this news is.

Being able to run a frontier AI model on your own hardware means token costs are effectively free.

AI will be as ubiquitous and cheap as the internet itself. This is a dagger in OpenAI and Anthropic.

[David Sun @arcticinstincts]

Status symbols of the 2030s:

1. Avoided the COVID shot (no spike protein dmg)

2. Palantir goyscore above 700 (not homeless & microchipped)

3. Foreskin intact (No imperial submission)

4. Can read long form text (no scrollcel brain dmg)

5. Avoided the Iran war draft (not dead)

[simp 4 satoshi @iamgingertrash]

Few know, but we’ve shipped
One Hundred Computers

Built and assembled
entirely by hand

From a garage,
in Los Angeles

While not posting about it,
doing launch videos,
or anything else publicly

[simp 4 satoshi @iamgingertrash]

“Agents won’t use stables!”
“They’ll use credit cards!”

Okay, how does an agent take a loan?
Or access margin?
Or escrow capital, for services?

The foolish finance companies
Like Stripe or Ramp
Haven’t thought things through

You are middlemen,
And will be annihilated

[Erik Voorhees @ErikVoorhees]

It may be obvious in hindsight that we actually built crypto for the machines

[Aakash Gupta @aakashgupta]

Everyone’s missing the real story here.

ZeroHedge is framing this as Jane Street single-handedly causing the 2022 crypto winter. The lawsuit is more surgical than that, and what it actually describes is worse.

A former Terraform intern named Bryce Pratt, working at Jane Street, created a private group chat called “Bryces Secret�� with Terraform’s software engineer and head of business development. That chat became a pipeline for material nonpublic information about Terraform’s liquidity positions.

The May 7, 2022 sequence took 10 minutes.

At 5:44 PM EST, Terraform quietly pulled 150 million UST from Curve’s 3pool. No announcement. No disclosure. Within 10 minutes, a Jane Street wallet pulled 85 million UST from the same pool. Largest single transaction in the pool’s history. Combined: 235 million UST drained before anyone outside those two firms knew anything had changed. The peg cracked that night. Six days later, $40 billion was gone.

Then on May 9, while retail investors were watching their portfolios disintegrate in real time, Pratt messaged Do Kwon offering to buy Luna or Bitcoin at “steeply discounted prices.” Kwon told him Jump Trading’s co-founder Bill DiSomma should have already reached out about a fundraise. So Jane Street was front-running the collapse with one hand and offering to buy the wreckage with the other, fully aware of the financial condition it helped create.

This tells you everything about what “providing liquidity” actually meant in crypto.

The firm that allegedly used a private chat room to drain $235 million from a stablecoin pool before retail could react now generates $24 billion in trading revenue through three quarters of 2025. $10.1 billion in a single quarter. More than Goldman. More than JPMorgan’s entire trading operation. Over 10% of North American equity volume. Lead authorized participant for the biggest Bitcoin ETFs.

And this is the second lawsuit from Terraform’s administrator. He already sued Jump Trading for $4 billion in December, alleging Jump inflated UST through a backdoor deal before the implosion. The Jane Street complaint alleges insider information flowed between the two firms. The picture forming is two of Wall Street’s most sophisticated trading operations allegedly coordinating around inside information while retail absorbed the full $40 billion hit.

Do Kwon got 15 years. Terraform paid $4.47 billion in SEC penalties. The institutions that allegedly turned a private group chat into a front-running operation are posting record profits. The question a Manhattan federal judge now gets to answer: when does “market making” become market taking?

[Bark @barkmeta]

Jane Street was running an algorithm that dumped Bitcoin every single morning at 10am. Every day. For months. Crashing the price. Liquidating retail. Buying back lower. Rinse and repeat.

The second they got sued it stopped. The 10am dump disappeared. Now Bitcoin just had the best day in months.

One trading firm... That’s all it took to suppress the entire crypto market for months.

Now ask yourself how much of the crypto price action is even real. How many people panic sold because the charts look terrible. How many people got liquidated. How many billions were taken from regular people by a single trading desk.

And this is just the first one to get caught so far… it’s about to get VERY interesting.

[Coin_collectiva @cvx_collectiva]

From LTCM to @fraxfinance and @ConvexFinance : The Limits of Classical Valuation in a Nonlinear Financial World.
An essay on how traditional models of business evaluation are not fit for DeFi, drawing on ideas from Friedrich Nietzsche, Gilles Deleuze, Nassim Nicholas Taleb, the historical fall of Long-Term Capital Management, and the Nisbett and Wilson Stocking Study.

[prim @0xprimdotfun]

Had an idea for a tax token.

Ticker is $USA.

Buy tax of 3.8%.
Sell tax of 3.8%.

Proceeds from both taxes automatically buy another ticker called $ISRAEL, but nobody can sell $ISRAEL because it’s a honeypot.

I just realized this is a terrible idea nvm.

[Insane Reality Leaks @InsaneReality]

FPV RC with head tracking feels like you’re actually in the cockpit

[simp 4 satoshi @iamgingertrash]

The internet will be rearchitected to become a first-class experience for AIs

There is no bot problem
Once they have economic agency

The red carpet
will be rolled out to bots

[frankie @FrankieIsLost]

jobs in the future:
- guy with “taste”
- looksmaxxer
- agent (human that’s hired by LLMs)
- docusign L3 engineer
- memecoin trencher
- warlord