Ryan Ucho

Founder & Investor. I like bringing (often improbable) technologies into existence to improve lives. Systems @ Stanford

[Ryan Ucho @ryanucho]

👀

[*Walter Bloomberg @DeItaone]

*JANE STREET POSTED ROUGHLY $15B LOSS IN JULY: FT

[Rhino @lBattleRhino]

One more rape event before October seems quite appropriate

[Ryan Ucho @ryanucho]

What does that even mean?

[Mark Cuban @mcuban]

Chips as an asset class will be the new crypto

[Ryan Ucho @ryanucho]

😂

[Bold @boldleonidas]

How recent @Trezor customers sleep.

[Ryan Ucho @ryanucho]

People are still trading the last cycle.

[Phil Kwok | EasyA @kwok_phil]

i believe in xrp.

but there’s a very important player in the ecosystem that seriously needs to step up their game.

the xrp army deserve better.

[Ryan Ucho @ryanucho]

$15B loss, then $11B of debt moves private.

That tells you enough.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Jane Street posted a $15 billion loss in July amid the collapse of Situational Awareness, per FT.

The firm disclosed the loss to lenders as part of a deal to shift its $11 billion public debt pile to private investors.

[Sandeep | CEO, Polygon Foundation (※,※) @sandeepnailwal]

Props to Robinhood chain but its good to see @0xPolygon lead the OG chains 💪💜

[Kalshi @Kalshi]

JUST IN: Elon Musk says people "really don't" understand how much compute the world needs

[STRIKE @Strike]

Bitcoin is not crypto

[Ryan Ucho @ryanucho]

Agree with CZ this time.

The long-term thesis for Bitcoin remains intact. The market is pricing in the “quantum” fear.

Bookmark this tweet.

[CZ 🔶 BNB @cz_binance]

@QuintenFrancois Soon, millionaires won't be able to afford 1 full Bitcoin. 🤷

[Ryan Ucho @ryanucho]

This is not good...

[Bull Theory @BullTheoryio]

THE RALLY IN US STOCKS IS BEING DRIVEN BY BORROWED MONEY

More than 4 million SPX call options traded on Tuesday, an all time high, beating the May record by 10%.

The same week, the S&P crossed 7,700 for the first time and the VIX fell to its lowest level since January.

But this is not bullish at all.

When someone buys a call, a dealer sells it. That dealer is now short the market and has to buy S&P futures to stay neutral.

So the index goes up because dealers are hedging, not because investors are buying stocks.

More calls get bought, more hedging happens, the index goes higher. The move keeps feeding itself.

The falling VIX adds to it.

Funds that size positions by volatility automatically buy more when volatility drops, whatever the price.

Korea just showed how this ends.

[Ryan Ucho @ryanucho]

Unfortunately, his intentions were only good for his own pockets

Now, crypto is better off without him, but the damage is already done

Trump, Saylor, Tom Lee and the rest turned an entire cycle into a circus.

Will need at least a decade to recover from this damage.

[Ash Crypto @AshCrypto]

Since Trump became the first pro-crypto US president:

Bitcoin: -41%
Ethereum: -45%
Altcoins: -80%

S&P 500: +30%
Nasdaq: +42%
Russell: +35%
Gold: +65%
Silver: +123%

[Ryan Ucho @ryanucho]

Kind regards.

[CoinDesk @CoinDesk]

JUST IN: Trump-backed World Liberty wins conditional bank charter from federal regulator.

[CoinDesk @CoinDesk]

MARKETS: The S&P 500 breaks above 7,800 for the first time ever.

[CoinDesk @CoinDesk]

JUST IN: XRP treasury firm @evernorthxrp amends its SPAC merger terms, tying share issuance to $XRP's price at closing rather than the original $2.36 reference.

[CoinDesk @CoinDesk]

ARTIFICIAL INTELLIGENCE: “It can’t be that we’re gonna give all the big AI companies all of our data and let them go and monetize it.”

Deus X Capital CEO Tim Grant says concerns around data sovereignty are sinking in much faster than they did during the Web2 era.

[CoinDesk @CoinDesk]

LATEST: Brazil's largest Bitcoin treasury firm @OranjeBTC plans to list $DIGY11, an ETF holding 95% $STRC and 5% $SATA preferred shares on Brazil's B3 exchange.

[CoinDesk @CoinDesk]

NEW: MUFG plans to test on-chain settlement of Japanese government bonds via @CantonNetwork, targeting 24/7 real-time repos that currently take up to 3 days.

[CoinDesk @CoinDesk]

JUST IN: @Coinbase, @BitGo and 30+ others sign letter urging AI labs to give security researchers early access to frontier models, arguing attackers already do.

[CoinDesk @CoinDesk]

NEW: The @SECGov's Division of Investment Management issues a no-action letter to @FTI_US, allowing its registered funds to use its on-chain money market fund $FOBXX to manage cash and collateral via blockchain rather than legacy custody rules.