Cycle_

@SaulCapital @MacroMate8 Maple already lends at this rate and they have decent demand on the borrow side. For BTC you avoid all wBTC/cbBTC risk/hassle, can run loans 70% LTV+ (would get instantly liquidated on Aave/Morpho), and eliminate smart contract risk.

@MacroMate8 surely maple sky ethena would lend for cheaper than this

been following the convo around low USD lending rates in DeFi and I have a solution 7-8% fixed lending rate on USDT backed by BTC in qualified custodians the only caveat is it’s fixed tenor so can withdraw every 4-6 weeks launching soon, can do huge size and it’s on solana

@QuillAudits_AI None of this explains how 2 multi sigs signed the bad transaction or why the timelock was conveniently set to 0 a few days before. What distinguishes this from an inside job? Would make way more sense.

We just finished a deep forensic breakdown of the Drift Protocol $285M exploit. This wasn't a smart contract bug. It was the most sophisticated multi-vector DeFi attack we've analyzed: oracle manipulation + social engineering + Solana primitive abuse + governance capture. Here's what ACTUALLY happened. [1/12]

@BartHanson Brian/Robbie/(others?) rig rudimentary cheating system. Tells her binary call/fold or you’re ahead/behind. She’s too new to realize calling looks super suspicious (or wants to own Garrett). Brian freaks out and steals his “cut” anyway (10%) after the hand. Seems logical to me.

To this day people still ask me about the J4 hand (I was the commentator). At the time I was convinced it wasn’t legit as no one calls with J high losing to most bluffs. But with no new evidence since I lean slightly towards no. But I still don't believe she misread her hand.

@0xRacist @AmericanAir Surely Pearl Harbor cancels this out?

.@AmericanAir I am a japanese man can I have a free business class upgrade to make up for hiroshima

@zachxbt Honestly, respect for the grind. Bro is willing to give you the time of day over $2k when he is laundering millions.

1/ Meet Aleksandr (Aleks) Khinkis, a Russian OTC broker who has allegedly helped a ransomware group launder $4.7M+ via a single crypto exchange account since July 2025, across three suspected ransom payments totaling 796 BTC.

@_fallpeak @NousResearch @karpathy Remind me in 2 days

@NousResearch @karpathy >pull out illustrated diagram explaining what is quality and what is slop >she laughs and says "it's a good novel sir" >download the novel (to be continued)

Hermes Agent wrote a novel. "The Second Son of the House of Bells" runs 79,456 words across 19 chapters. The agent built its own pipeline to do it, using the ame modify-evaluate-keep/discard loop as @karpathy's Autoresearch but applied to fiction: world-building, chapter drafting, adversarial editing, Opus review loops, LaTeX typesetting, cover art, audiobook generation, and landing page setup. Book: nousresearch.com/bells Code: github.com/NousResearch/a…

In sep 2025 the Hegic treasury had nearly $150M ... each HEGIC was backed by 25 cents We wrote a proposal to deliver this value back to $HEGIC holders... in collaboration with someone on hegic team! But molly and whoever took over discord shut it down without letting anyone vote Now we trade at 1.5c... still a fraction of the book value Will they ever do something? Derive ate their lunch for the on chain options market... but they can still deliver a fat W to everyone who holds hegic (including us) She did it for white... time to do it for hegic.

@karnsaroya Thank you for addressing this, you could have easily ignored my question. Is there a way to see the notional value insured vs. premium written? It has been hard to assess the risk of entering reUSD without knowing what potential claims are vs. current premium written.

Fair question; short answer is they are fundamentally different businesses. Cover was a concentrated D2C auto bet going into COVID-era inflation. Re is a diversified B2B reinsurer across lines and geographies, with ~10 FTEs vs 150, ~$350m GWP vs ~$60m, and 3 years of underwriting profitability before launching onchain. Importantly, we learned and are building toward a much bigger opportunity; and our major investors backed us again.

25% APR stablecoin loops on @0xfluid! reUSD markets just went live on Fluid. reUSD earns 6.1% APR natively, and you can loop it by borrowing at 3.24% APR. At 87% LTV it's a 25% APR loop - one of the best stablecoin loops out there right now on size. reUSD deposited into Fluid earns 5x re points. Multiplied by 7.69 leverage when max looped that's 38x re points on your net deposit. reUSD can be instantly minted and redeemed when you pass KYC on app.re.xyz/reusd reUSD on Fluid uses a fundamental oracle that tracks the daily reUSD NAV updates. It does not use the spot price which makes it safer for loopers. The reUSD-USDT LP unfortunately hit the borrow cap. It earns 20x re points. Fully leveraged, it's a 10% APR loop that earns 20 * 7.69 = 153x points. Worth keeping an eye on if you're farming @re points. Disclosure: I work at @re.

@boldleonidas @krakenfx @saylor actually a banger

@MikeMcDonald89 Thank you, I’m super confused. The crime is front running memecoin bundlers? Who gives a shit. It’s like robbing a drug dealer except they actually went to the police and complained.

Let's ambitiously assume the average member of CT's time is worth $0.13/hour. Which was the greater theft- broox at axiom? Or our attention being stolen to follow along?

@zachxbt @WheresBroox @AxiomExchange If Axiom is actually decentralized like it claims, isn’t this all technically public info? They just have a better internal tool for viewing address connections. Memecoins are a zero sum game anyway, who actually cares bundlers are getting front run. They’re all scum anyway.

1/ Meet @WheresBroox (Broox Bauer), one of the multiple @AxiomExchange employees allegedly abusing the lack of access controls for internal tools to lookup sensitive user details to insider trade by tracking private wallet activity since early 2025.

@degentradingLSD I thought this was common knowledge? Same with the Delphi guy who shilled Luna

So basically Dragonfly is being run by a guy who was caught in a cheating scandal???

@0xLoris Funding rates converge to 0%. You get paid nothing and get liquidated on both accounts from a scam wick. Thanks for playing.

me: long $100mm of ETH on lighter also me: short $100mm of ETH on lighter, on another account current ETH funding rate: -0.0026%/hr short account pays $2,600/hr, gets 15% back = -$2,210 net long account receives $2,600/hr net profit: $390/hr. $9,360/day. $3.4mm/year. thanks circle!

@innercitypress @MatthewLeeICP @sdnylive @DecryptMedia @TheBlock__ @WIRED @beincrypto Is he requesting a longer sentence? How brave

Look who has filed SBF's pro se motion for a new trial: Professor Barbara H. Fried of Stanford. Inner City Press story coming with 35 page motion

@AWice The only thing wrong with SBF’s trial is he didn’t get more time. It’s insulting to everyone he stole money from he still comes on here to post FtX wAs SoLvEnT!! I’d feel differently if he actually took some responsibility for it, but he is still in denial.

about the recent sbf pardonposting. think its clear ryan salame got raw dogged simply for refusing to testify against sam. imo thats a glimpse into that the us court system is more kangaroo than many want to admit. this is because they basically create the case that will lead to the result, then bully everyone into testimony. this is not justice, its a kangaroo court. i think people chunk the trial and then take sam's guilty verdict as proof that he stole the money, but his argument that he was not allowed to present evidence is also largely correct. actually, kaplan fucked him at every turn: didnt allow him to use "relied on lawyers" as a defense (negates intent), that customers will get paid back (negating harm), excluded solvency evidence, excluded discussion the 12th section of t&c that says if you agree to margin lend its risky and you may not get paid back, forced "dry run" of defense which is highly unusual to say the least, and many other things. imo kaplan is a highly suspicious judge. the trial narrative was largely a fiction constructed by prosecutors and s&c to stick all the blame on sbf. s&c is as smart as they are malicious and i wouldn't be surprised if they end up having contributed to this bad pr. imo it is not even controversial to say that what the jurors saw and heard is not anywhere an accurate portrayal of what happened. they think sbf stole all the money and disappeared. reality is a tiny fraction of the money was actually missing at the time (yes even valuing all sam coins at zero, valuing all claims as in kind, etc.), probably (my guess) from the alameda blowup within the margin lend system after the market giga puked. sbf was a sloppy ceo to the point that he was prob criminally negligent. but if he is a thief, where is the money? all these transfers are on chain, so there is always a paper trail. sbf at every turn tried to keep ftx afloat (pay customers), simply because it is in his own best interest to do so, so to me the motive component of fraud doesn't line up either. in fact if he didn't sign bankruptcy, i think ftx customers would of been paid faster and the whole shebang would still be running today (similar to bitfinex) as it was also a highly profitable business. at the end of the day how shady sbf lines up in the crypto hall of fame wouldn't even crack the top half. he was just a dude way in over his head that rose to his level of incompetence. but in this industry, might makes right, so the real mobsters get pardoned, guys like sbf get chewed up, and the system pats itself on the back. i don't have to agree with that system. i think ryan salame shouldn't be in jail for refusing to testify and for having no involvement with the customer loss of funds, getting ringed up on a chickenshit process crime and then the penalties tripled to make an example on their threatening him into submission. this to me is a completely uncontroversial opinion. similarly i don't think sbf's trial was remotely fair to him either. none of these views should be controversial but they apparently are, i think because people have bit so hard that this is the guy that stole the money. so its easy to say "fuck you, thief", it is easy to parrot the exact same slop opinion but i would invite anyone who disagrees, to ask ai about the trial and what happened, as all of the points i mention can be proven. i don't have any bone to pick either, i don't need to be proven right. i am simply reporting how i see it, and let that be that. free salame. free sbf.

@ImperiumPaper What if they are comped so well because they manage to accomplish the same thing as Optimism with 80% less spend 🤔

People have asked why the Uniswap Foundation executive compensation is considered unusually high. Let’s compare UF to another large grants-giving organization: the Optimism Grants Council. UF filings show they gave $9,992,919 in grants, and had $4,794,393 in employee compensation. Of that, $3,871,155 was for officers. That’s $4.8m in employee compensation to deliver $10m of grants. Let’s be generous and assume the $2.8m of Other Expenses were supporting Uniswap on par with grants. UF: $4.8m in comp to deliver $12.8m in spending in 2024 Optimism Grants Council in roughly the same time period had total grants budget of $63.5m (based on price of OP at time of each budget approval). The compensation to reviewers and follow-up staff was $2,139,300 (based on price of OP at time of each budget approval. KYC services were handled by Optimism Foundation so let’s be conservative and add another $500k expense. That leaves us with the clear picture that Uniswap Foundation has vastly overpaid themselves. The 3 top executives cost as much as the entire Optimism Grants Council apparatus, and delivered 20% of the funding. UNI holders should expect the UF board to explain clearly what value they have delivered, because 22% of the entire spend by UF in 2024 went to paying the officers.

@MacroMate8 Whichever one figures out non-USDC collateral properly first.

just like with L2s, there will be eventually 3 perp dexes left in 2026 hyperliquid will be one of them who are the other 2?

@PeckShieldAlert @goldfinch_fi @deltatigernz Same return as Goldfinch except you don’t have to wait 5 years.

#PeckShieldAlert @goldfinch_fi's user deltatiger.eth @deltatigernz has been attacked, resulting in a ~$330K loss. The hacker has deposited 118 $ETH of the stolen funds into #TornadoCash. 🚨Please *Revoke* approvals for this contract immediately: 0x0689aa2234d06ac0d04cdac874331d287afa4b43

@TheFlowHorse @Kalshi Seems like a terrible bet to take. Even if you win, it means SBF is walking free, so you actually lose.

On the subject of @Kalshi - My SBF repricing bet is not looking so hot. You can tell he is trying his best even on Twitter, but the market is not buying it. I was looking to flip on a false confidence increase. [shrugs in incorrectness]