Crypto McLovin

Just a squirrel trying to get a nut 🌰

[The_Hubris_Filled_Moron 🇺🇲 @HubrisMoron]

@FoxNews @Brooketaylortv the side of racism in American that no media outlet talks about

[Crypto McLovin @Redorb420]

@Tradermayne Bagel boy in Brooklyn

[The White Whale @WhiteWhaleLabs]

How Two Things Can Be True At Once - Hyperliquid

I find myself in a weird place with Hyperliquid.

I am incredibly bullish on the hyperliquid:native token.

But I am becoming increasingly bearish on Hyperliquid as a trader-facing exchange.

For many months now, I’ve talked about how much I wish Hyperliquid would spend real time improving its user interface and overall user experience.

Because traders live and work inside these products.

The interface matters. The flow matters. Intuitive design matters. The small things that reduce friction matter a lot when real money is on the line.

And yet, for over a year, Hyperliquid has failed to ship any meaningful improvements in those areas.

As one of the largest revenue-generating protocols in all of crypto, at some point you have to ask: why?

The answer seems pretty clear.

They chose to be an infrastructure company.

They chose to build the rails. The engine. The backend. The liquidity layer. The thing other people can build on top of.

And to be fair, they have done that incredibly well.

For a while, I wondered if I was just a lone voice in the wilderness. Maybe the things I wanted only mattered to me. Maybe most traders were perfectly happy with the experience as-is.

But $82 million generated by builder codes tells me I’m not alone.

Over 20,000 unique traders connect to Hyperliquid through another interface every single day.

That is not a rounding error.

That is the market speaking.

That is traders saying, “We like the liquidity. We like the engine. But we want a better cockpit.”

Companies like Based, Insilico, and even wallet apps have listened to what active traders actually want. They have focused on smoother trading interfaces, better workflows, simpler execution, and features that make the experience feel less like you're fighting the product and more like using it.

That revenue exists only because the demand exists.

And that’s the part I don’t think should be ignored.

It is entirely possible to focus on infrastructure while also improving the customer experience. I understand Hyperliquid runs an incredibly lean team. I understand the desire to pick a lane and stay focused. A lot of infrastructure companies don’t try to be everything to everyone. They focus on becoming the best infrastructure layer possible.

There is nothing fundamentally wrong with that.

But that is much closer to a B2B business model.

And my personal passion is B2C. It's where I've spent much of my adult life.

And I am a consumer of these products, after all. I am a trader. I care about what it actually feels like to use them every day.

And from that perspective, Hyperliquid has become a strange contradiction inside my own mind.

As infrastructure, I think Hyperliquid will continue to dominate.

As the "AWS of perps", it may become one of the most important companies in the entire industry.

And because so much revenue flows back toward HYPE, I believe the token has some of the best potential in crypto. I fully expect HYPE to be one of the darling runners of the next cycle. In fact, it already has been - in a bear market no less.

But as a trader?

I keep feeling disappointed.

Because it could be so much better.

That is the frustrating part.

The trader experience still feels like an afterthought.

And the data shows I'm not alone in feeling that.

So yes, two things can be true at once.

HYPE can be one of the best tokens in crypto.

And Hyperliquid can still be leaving a massive amount of trader love, loyalty, and user experience on the table.

🫡 From the depths —
The White Whale 🐋

[Elon Musk @elonmusk]

🎯

[Elon Musk @elonmusk]

The real reason they don’t want voter ID is to commit voting fraud. That is the obvious truth.

[Michael Saylor @saylor]

Strategy has acquired 1,550 BTC for $101 million to increase our $BTC Reserve to ₿845,256. We have also increased our USD Reserve by $100 million to $1.0 billion. $MSTR $STRC https://t.co/1Zf1AVsP1H

[Brandon Avedikian @bavedikian]

Bought a $1,742.80 camera online from BestBuy.

The FedEx delivery driver stole it. FedEx admitted it.

But BestBuy won’t give a refund. They said we need to “work with local law enforcement.”

Thought everyone should know if you buy from @BestBuy and a @FedEx driver steals what you paid for, your money is gone. Neither company will make it right.

I’ve spent over $30K at BestBuy and will never spend another penny there.

[Lee Hurst @LeeHurstComic]

For maximum UK police protection.

[F.A. United States Attorney Bill Essayli @USAttyEssayli]

California Is Blocking a Federal Audit of Its Voter Rolls

California allows first-time voters to register using forms of ID that most Americans would find surprising, including:

-Gym membership card
-Employer ID card
-Credit or debit card
-Prescription drug label
-Insurance card (California provides free health coverage to undocumented immigrants)

Full list: https://t.co/BvfviJsYG8

This is permitted when a voter fails to provide a Social Security number or driver’s license at registration. Our office believes this policy deserves a closer look.

We also have serious concerns about how California maintains its voter rolls. There are open questions about whether the state is promptly removing deceased voters, people who have moved, and individuals convicted of disqualifying felonies.

On top of that, California allows third parties to collect and turn in ballots on voters’ behalf (a practice known as ballot harvesting) with few restrictions. This makes it difficult to track who actually received, completed, and submitted each ballot.

For over a year, the Department of Justice has been trying to audit California’s voter rolls. Federal law gives the Attorney General the authority to review state voter files and confirm that only eligible U.S. citizens are voting in federal elections.

@AAGDhillon sent California a letter explaining our legal authority. California refused to comply, claiming state privacy laws block the review, an argument that does not hold up because those laws don’t apply to the federal government in this context. We’ve sued California in federal court, and the case is before the Ninth Circuit Court of Appeals.

If California genuinely wants voters to trust its elections, it should open its records, not fight to keep them closed.

What are they afraid of?

[GB Politics @GBPolitcs]

🚨NEW: Iceland founder, Sir Malcolm Walker, has come out to say 'two-tier policing exists,' as he reveals police rushed to one of his stores 3-minutes after a phoney accusation of racism, but didn't attend when staff were seriously hurt or threatened with violence by shoplifters

[Elon Musk @elonmusk]

The reason ID is banned in California (and New York) elections is to enable large-scale fraud.

When you combine no ID and mail-in voting, fraud is de facto legalized.

[Coin Bureau @coinbureau]

🚨 ARTHUR HAYES UNDER FIRE AFTER ZACHXBT QUESTIONS RECENT TOKEN EXITS

On-chain sleuth ZachXBT publicly accused Arthur Hayes of repeatedly posting bullish targets on tokens before quickly exiting his positions.

He questioned how much “exit liquidity” may have been provided by his followers who bought into the narrative on WLD, NEAR, HYPE, and ZEC.

[Elon Musk @elonmusk]

@GadSaad Interesting

[Crypto McLovin @Redorb420]

@wizardofsoho Pacifico is good one!

[smac @0xsmac]

there’s no actual value accrual for vvv

the only sustainable economic link is the programmatic burn which is effectively zero - it’s $2/$5/$10 of vvv burned per NEW sub (pro / pro+ / max). there’s no programmatic burn for ongoing subs so it’s a onetime pymt only on new subs. it captures economic value just for new signups one time. the $18 / $68 / $200 monthly rev doesn’t go to the token. conservatively speaking they’d need to add 10-25x of its current paid sub acquisition rate just to offset emissions

the discretionary buyback can be terminated any time (it’s just trust me bro)

vvv captures imo 5-10% of revenue with the rest going to equity (equity biz prob p good tbh) but even if you take the recent delphi (optimistic imo) 12mo forward target of $260M ARR, at 5% capture that’s $13M/yr in buy pressure which provides little support for the existing valuation + emissions

you’re basically relying on team to juice discretionary buybacks and imo if that were really their intention then part of the recurring monthly sub rev would be going to programmatic burn. i don’t buy the “we are in growth mode so we don’t want to burn token” — don’t do it all then

[Crypto McLovin @Redorb420]

@beaniemaxi What about all the apes you buying... doesn't sound so sidelined

[Crypto McLovin @Redorb420]

@coinbureau That competition is not close.

[Freak ⛳️ @ThatAIFreak]

Hate to criticize Hyperliquid but the inconsistency with the HIP-4 launch is extremely frustrating

Totally missing out on not having the Game 3 market up for the NBA Finals now that Game 2 ended

Games 1 & 2 were put up at the same time and now nothing

The World Cup starts in a week and we still have no markets live on mainnet

There is one for the World Cup winner that hit quorum but for some reason is yet to go live on mainnet

They are their own oracle and yet there is no 15M recurring crypto market or even a hyperliquid:native market

Just wish there was more clarity or even allow deployers to go live on testnet

I’m sure there’s a reason for the slow start but it’s a bit weird

[LuBu (privacy szn) @ZhugeLyang]

Arthur Hayes has absolutely zero shame

> he founded BitMEX in 2024
> got went to trial for USA bank secrecy act violation
> he pleaded guilty and was sentenced to 6 months of home detention, 2 yr probation + $10 m fine
> got later pardoned by Trump
> continues to scam and do shady stuff despite already having a fortune of $42 m in the bank

Remember him in the next cycle.

He'll try the same manipulative tricks to fool newbies:

> shill token (zec, wld, near etc.)
> 2 days later open shorts and announce he's bearish

I have a personal list of people that should be faded/countertraded whenever they post

I kept this clown there since 2022 and for good reason.

[Henrik @Henrik_on_HL]

Arthur Hayes is one of the worst people in this space. He uses his public reach to dump on retail.