Ryan Watkins

Co-Founder @SyncracyCapital | previously @MessariCrypto | Not financial advice. Disclaimer:

[Ryan Watkins @RyanWatkins_]

https://t.co/UyCXRwhDfH

[HL Global @HLglobal_]

Hyperliquid’s liquidity layer is becoming core infrastructure for apps, wallets, and exchanges.

Who's integrating:

@PaulErlanger— @fomo
@alvinhsia — @phantom
@sy_moonsman — @MetaMask
@farzamehsani— @VALRdotcom

Moderated by: @RyanWatkins_— @SyncracyCapital

[Ryan Watkins @RyanWatkins_]

Blockchains are a global API for money and finance.

We’re going to plug this API into every app where it makes sense over the coming years and bring crypto to the masses inclusive of humans and agents.

Stablecoin payments + savings, tokenized assets, onchain credit markets, perps for everything, prediction markets… the list goes on.

All these products are composable, so builders will only be limited by their imaginations on what this could all look like.

Some efforts will be homegrown like Phantom and Fomo.

Others will be established players like Robinhood and Stripe plugging it in and championing this technology.

In any case we will win.

[Ryan Watkins @RyanWatkins_]

Haven’t been this excited about crypto since 2023.

For the first in my career I see a genuine path to onboard hundreds of millions of users onto blockchains, while much of the market is too distracted or checked out to appreciate it.

Think we’re firmly in the territory where you want to be looking past any month-to-month volatility and focus on the bigger picture unfolding over coming quarters and years.

Time to lock in.

[Ansem 🐂🀄️ @blknoiz06]

very rare circumstance where both retail and HNW crypto native capital is mostly sidelined

retail sidelined bc of outperformance of ai stocks

HNW crypto natives sidelined bc of 4 year cycle timing waiting for Q4

a *lot* of capital will chase quickly if coins rip here

[Hyperliquid Policy Center @HyperliquidPC]

https://t.co/F2CT4hCWEZ

[Ryan Watkins @RyanWatkins_]

Bubbles can be good for new industries and the memecoin bubble from 2023 - 2025 was just that.

Memecoins onboarded an enormous amount of new users, stress tested chains like Solana and Base, and funded a ton valuable trading infrastructure in the ecosystem.

But now we’re in 2026 and memecoin bubble popped long ago.

Insider trading, bundling, and bots ruined what was once a fair game. What’s left is a shrinking pool of fish chasing past highs they will never reach while sharps extract the remaining money.

The same thing happened on Ethereum twice, first from 2017 - 2018 with ICOs, then 2020 - 2022 with yield farming.

At a certain point the game gets figured out and edge gets competed away. The thesis becomes stale and people stop playing.

Memecoins may ultimately have a place in the cryptoeconomy long-term. If someone can find a way to make them fair again, they could survive as an onchain native casino game, or better yet, evolve into something new like creator coins.

In any case, speculation will continue on, and speculators will continue searching for an outlet.

But the point is that any chain looking for a spark will need to look beyond. Growth is found on the frontier, not in the echoes of the last cycle.

[Ryan Watkins @RyanWatkins_]

The best thing Robinhood has done so far is integrate Morpho and Ethena directly into the main app in an Earn product.

This is something they are uniquely positioned to do and actually taps into their wide distribution (which their wallet does not have).

More of this pls.

[Ryan Watkins @RyanWatkins_]

Hate to be that guy, but I see little reason to be excited about degens playing the same old zero sum games on a 2/3 multisig L2 with a bunch of forked protocols.

I get new chains have to start somewhere, but Robinhood could do much better than try to rekindle the 2024 meta.

[Ryan Watkins @RyanWatkins_]

We don’t need any more validation as an industry.

We need products and growth.

[Ryan Watkins @RyanWatkins_]

Hate to be that guy, but I see little reason to be excited about degens playing the same old zero sum games on a 2/3 multisig L2 with a bunch of forked protocols.

I get new chains have to start somewhere, but Robinhood could do much better than try to rekindle the 2024 meta.

[Ryan Watkins @RyanWatkins_]

@0xcarlosg Like the idea of it and want it to succeed. But:

1. Ton of adverse selection
2. Don’t love the forced futarchy
3. Wonder if the ownership coin primitive would be better deployed as a public good instead

[Ryan Watkins @RyanWatkins_]

One of the most positive byproducts of Hyperliquid’s success is that the market is now forcing projects to prioritize value capture and team alignment with token holders.

The public is simply just tired of founders not caring about them and making backroom deals at their expense.

There’s already enough risk investing in crypto given it’s an early stage technology.

Compounding it with ambiguous economic rights and information asymmetry just makes it that much harder for the average person to successfully navigate the asset class.

I understand that not all this was done out of malice, as many teams simply didn’t appreciate the demands of running a public project and are learning investor relations on the fly.

But man is this a much needed cultural change.

Hyperliquid.

[Ryan Watkins @RyanWatkins_]

Decentralized AI is becoming the most important techno-political movement since Bitcoin.

Like many movements that emerged from the crypto community before it, I also believe it’s the industry’s next 1,000× opportunity.

With each passing day, it’s growing more likely that open source models running on permissionless infrastructure will be the only way to preserve equal access to intelligence.

The U.S. gating access to frontier models was just the first warning, as now even China is contemplating doing the same with their open source ecosystem.

The necessary technology to achieve independence from the leading labs is nascent with limited PMF at best, but if we can ultimately pull this off, it’s hard to imagine many things more impactful on the future of our civilization.

[Ryan Watkins @RyanWatkins_]

While the death spiral concerns are silly and come from a misunderstanding of how Strategy and corporate finance actually works (it’s not Terra lol), it should be clear to everyone now that this company has no purpose anymore.

Best if it just fades out of relevance.

[Ryan Watkins @RyanWatkins_]

So if I’m getting this right, the company is called Strategy, but the strategy is just top blasting Bitcoin, levering up on the way down, and selling Bitcoin at the bottom?

[Michael Saylor @saylor]

Strategy has sold 3,588 $BTC for $216 million to fund dividends on our Digital Credit securities. As of 7/5/2026, we hodl ₿843,775 in our BTC Reserves and $2.55 billion in our USD Reserves. https://t.co/Cssgz29Psj

[Ryan Watkins @RyanWatkins_]

@blknoiz06 Biblical

[Ryan Watkins @RyanWatkins_]

Hyperliquid is printing close to $1B annualized in the depths of the bear market.

Just imagine how many billions it will make in a bull market with exchange fees, priority fees, and stablecoin yield revenue all accelerating.

[MONK @defi_monk]

If crypto assets really come back in full force it’s wild to imagine how much revenue we might see coming from Hyperliquid.

In prior cycles most of the derivs activity occurred on CEXs. Hyperliquid’s market share has gone up substantially during this bear market.

[HL Global @HLglobal_]

We're glad to welcome @RyanWatkins_ to the Hyperliquid Summit stage July 16 in NYC.

Co-founder of @SyncracyCapital & former Sr. Analyst at Messari, Syncracy was among the earliest supporters of Hyperliquid & coined HL as “The Everything Exchange” in their first HYPE thesis.