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🚫 DerivaDEX just killed front-running for good: • Your orders are encrypted client-side before they ever leave your wallet • Matching happens ONLY inside secure Intel SGX enclaves — even operators are blind • True FIFO execution with verifiable proof. Zero MEV. No sandwiches. CEX speed + real DeFi fairness. The only perp DEX doing it. Register Now: exchange.derivadex.com/affiliate-dash… *Note: Im an angel investor in this project.

The top 250 pumpfun deployers: > extracted ~$79 MILLIONS from the trenches > deployed 194K tokens (1,100 per day) in the last 6 months > produced only ~10 tokens with a 5M+ MC Full list 👇

THEY DID IT. The SEC and CFTC just dropped a landmark document that officially classifies crypto assets. They're actually telling us which crypto assets are securities and which ones aren't - by name! THIS IS SOMETHING GENSLER REFUSED TO DO (he focused on prosecuting crypto out of existence) This rule doc gives crypto many of the benefits of the clarity bill - it lifts us out of the gray market - it gives every asset a path. It's almost like the Clarity act just passed by way of regulator. (of course, the actual clarity act will harden all this into legislation and make it irreversible in the event we get another Gensler, we still want it) This rule says there's 5 categories for crypto assets: 1) Digital Commodities - assets tied to a functional, decentralized crypto system (e.g., BTC, ETH, SOL, XRP, ADA, DOGE). Not securities. (yes, they name them on page 14) 2) Digital Collectibles - NFTs, meme coins, artwork tokens, in-game items. Not securities (fractionalized collectibles may be an exception). 3) Digital Tools - membership tokens, credentials, domain names (e.g., ENS). Not securities. 4) Stablecoins - payment stablecoins under the GENIUS Act are not securities. Other stablecoins, it depends. 5) Digital Securities - tokenized versions of traditional securities. Like tokenized stocks. Always securities. Amazing! This makes so much sense I can't believe it's coming from a regulator. No more enforcement threats to Ethereum developers and crypto exchanges. How about the Howey test? More common sense! If an issuer makes specific promises of managerial efforts from which buyers expect profits, the offering is a security until those promises are fulfilled. Then it's a commodity. The asset itself was never the security, the deal around it was. (E.g. XRP was a security pre launch, became a commodity after). How about stuff like staking and mining? Mining? Not a securities transaction. Staking? Also not a securities transaction, that includes custodial and liquid staking even with LSTs! How about wrapping BTC? Not a securities transaction. Airdrops? NOT SECURITIES. NO MORE GEO BANS PROTECTING AMERICANS from free airdrops. Remember this is a joint doc from the SEC and CFTC, They're actually cooperating on this, no internal strife, this is binding to both. SEC regulates $80-100 trillion assets CFTC regulates $5-10 trillion assets Both of the world's largest capital markets are showing us that crypto assets are here to stay and they're welcome alongside traditional assets. Every country will follow. This is the biggest move toward legitimacy I've seen in all my time in crypto. Maybe bigger than the genius act since is covers all crypto assets. Well done @MichaelSelig and @SECPaulSAtkins. And especially well done to the indefatigable @HesterPeirce. Her fingerprints are all over this, couldn't have happened without her eight years of principles-based curiosity.

Bloomberg makes ~$15B a year, ~$12B from the terminal. Bloomberg charges $30000/yr per user for terminal access. Perplexity Computer literally one-shotted the terminal with real-time data within minutes using a single prompt.

How DerivaDEX prevents front-running: 1. Your order is encrypted before it leaves your device. 2. No one sees it until after it's been sequenced. By then, it's too late to front-run. 3. First in, first out. 4. State checkpoints on Ethereum. Four steps, zero trust required.

Read about our launch in Forbes – 🔗 forbes.com/sites/digital-…

Today, @DDX_Official is live. It is officially the first DAO-governed decentralized derivatives exchange to operate with a regulatory license.

LIQUIDATION CONTAGION Wealth taxes are even worse than you think. Any asset held by Californian billionaires or Dutch citizens is now at risk of experiencing forced liquidation pressure. So: it’s not just that you don’t want to hold assets as a Dutchman. You also don’t want a Dutchman to hold your assets. Because the logic of forced liquidation is contagion. Let’s think it through. (1) First, suppose there is an asset with a total market cap of $10,000, with 10 shares total, of which 1 share each is held by 10 different holders, all in the Netherlands. To simplify the math, assume the Dutch holders bought those shares at par, or close to $0. (2) Now suppose today is the unrealized cap gains tax day, and the share price is $1,000 per share. Each Dutch guy is hit with a 36% tax, and owes $360. The first guy sells his one share, gets $1,000, and pays $360 in tax while retaining $640. (3) But the first guy’s sale reduces the market price to $960 per share. So when the second guy sells, he only retains $600 after paying $360 in tax. (4) Now assume that by the 7th guy, all the selling has pushed the share price to collapse to $200 per share. This is a very reasonable scenario if 60% of the cap table has suddenly been dumped. Indeed it might go much lower. (5) At $200 per share, the 7th guy actually has to go into debt to pay the tax as he owes $360. He sells his one share, pays all $200 of the proceeds in tax. And still owes $160 more in tax. (6) The 8th, 9th, and 10th guys are even more screwed. By the time they sell, the price will likely have crashed to $100 per share or less. As with the 7th guy, even 100% liquidation will not cover their tax burden. (7) So we immediately see many negative things about the Dutch unrealized cap gains tax bill. (a) First, it will cause large simultaneous forced liquidations. Everyone must sell 36% of their stake near the same time. (b) Second, it may be literally impossible to pay if a critical mass of the cap table is all subject to it at the same time. In the example above it was 100% Dutch holders, but has it been just 60% the result would have been much the same: a collapse in the share price. (c) Third, that means it would be disastrous to have too many Dutch citizens (or Californian billionaires!) on the cap table. Their forced sales will crash your share price. (d) So, you might have to start mass blocking those resident in wealth-taxing jurisdictions from investing in your companies. (e) This in turn makes the poor Western European guy even poorer, as he gets locked out of high growth assets. To be clear: I really do feel bad for the formerly Flying Dutchmen, now Crying Dutchmen. They invented much of modern capitalism. They founded New Amsterdam, now New York. They’ve punched way above their weight. I wish them only the best. Nevertheless…they should prepare for the worst. This may be a tough century for Western Europe. The first ones out might get to freedom, while the slowest may be stuck behind a new Iron Curtain, spending a century paying off the debts their states incurred over the last century. Because the long run fruits of Western Keynesianism are the same as Soviet Communism, in the sense of wealth seizure and pauperization. I mean, if you knew the future, you wouldn’t want to co-own a farm with a Russian in 1916. For similar reasons, you might not want to co-own a share of stock with Dutch national in 2026. Or with anyone in a seizure-curious jurisdiction…which unfortunately includes much of Western Europe, Canada, and Blue America. You instead want assets that are not held by those subject to forced liquidations. Now, I grant that this is an unusual way to rank assets…Dutch holders considered harmful?!? Yet it might sadly be necessary to minimize your exposure to liquidation contagion. PS: guess which crucial stock is most held by the Dutch? ASML. So: this unrealized cap gains tax may not literally be a communist plot, but it would have the same effect.

@DDX_Official's seminal user-onboarding proposal is live! Big milestone for the world's first licensed DAO-governed decentralized derivatives platform. The platform is now accepting waitlist sign-ups as well: register.derivadex.com/mainnet

Things that make the rich richer and the poor poorer: 1. Central bank money printing 2. Government deficit spending 3. Bank-credit money creation 4. Artificially low interest rates 5. Corporate bailouts by the government 6. Wealth and talent leaving the country 7. Regressive tax traps 8. Welfare cliffs and state-created dependency Things that don’t make the poor poorer: 1. Millionaires and billionaires existing 2. People getting wealthy by building companies 3. Productivity growth 4. Private investment 5. Entrepreneurship 6. Businesses making profits 7. Saving and investing 8. Voluntary market exchange Inequality is only harmful when the rich get richer because the system is rigged as a transfer of wealth to them from the poor and middle classes. The people who rig the market are THE FUCKING GOVERNMENT, because real economics is harder to sell than boogeymen. When markets are allowed to work, the whole pie gets bigger for everyone. Any person focused on blaming wealth existence without looking at the causes of this distortion are selling virtue. I am looking at you @ZackPolanski and @garyseconomics.

@TheTraderBoss Nothing is ever guaranteed… probabilities and possibilities. That said, we always know big dumps tend to have epic bounce plays.

@CryptoHustle Hi! Altseason still in play?

DAO-governed DerivaDEX 'first' decentralized derivative protocol to receive Bermuda Monetary Authority license theblock.co/post/378846/da…

World's first licensed DAO-governed derivatives exchange. The @BermudaMonetary has issued DerivaDEX a Digital Asset Business License. Backed by @polychain @dragonfly_xyz @ElectricCapital @cmsholdings

🚨 INSIGHT: MEV, the hidden blockchain tax, pushes users away from crypto.

Couple thoughts on growing the shielded set in Tezos forum.tezosagora.org/t/growing-the-…

Altszn.exe has officially started…

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