Patrick Rooney

The vibe you get dropping below Wacker Drive to grab a burger & cold one at Billy Goat Tavern is unlike any other sensation. Takes you to a whole ‘nother place. Sam Sianis was the host with the most. 🍔 🐐🐐🐐🐐🐐🐐🐐🐐🐐🐐🐐🐐🐐

So @ICE_Markets and @CMEGroup are worried about @HyperliquidX… They should be. Hyperliquid delivered 24/7 price discovery, and both exchanges know that they will need to do the same to stay relevant. Neither is standing still. ICE has invested in @Polymarket and has a partnership with @okx. CME has chosen @Google. Both are moving because they understand the stakes and see the opportunity. Both have been in crypto for about a decade. @tradexyz’s Hyperliquid’s S&P contract may have been the straw that broke the camel’s back. Oil is equally concerning for them. Because to support U.S. persons, a derivatives market must be regulated. This is the law, and there has never been an issue around clarity: all derivatives are regulated in the U.S. It’s been that way since Dodd Frank and earlier. This requirement forces registration and numerous licenses (DCM, DCO, FCM). These come with mandatory legal, compliance, operational and yes, CAPITAL obligations. Together, running a regulated market is very expensive. And derivative markets are competitive, so as always: Regulation = consolidation The big get bigger. So, along comes Hyperliquid. Unregulated, lower cost, 24/7. Liquidity follows. Where from here? 1. Stay offshore. Keep U.S. persons out. 2. Pivot and go fully onshore. Buy or build to get those licenses. Centralize. Compete. Build a proper risk waterfall. Be compliant. Open the doors for U.S. persons. It’s a favorable regulatory environment and the @CFTC may work with them around the edges. (Eg provide relief of intermediary requirements—something I’ve been pushing for years.) Polymarket is doing this—they can, too. Or… 3. It could further decentralize. Another viable solution—technology should not be regulated. They could continue to build and improve. Heck, they could even build a decentralized risk waterfall and push auto deleveraging (ADL) to the back (where it belongs). Can’t wait to see how this plays out. 🍿🍿🍿

One man steering with seven rowers is optimal for peak propulsion. Too many firms invert the ratio with seven men steering with one left left to row. This is how Japan passed the U.S. in auto production and sales in the 70’s and 80’s. We’re ripe for this disruption again.

@SubMessX Could say the same about living in Illinois

Gas prices in Illinois are insane!

@AdamSimecka @SteaknShake Such a good story

It's very impressive to see the success of @SteaknShake. Add Bitcoin, remove unhealthy ingredients, and become #1 for same store sales growth in the nation. The people have spoken.

Hesitancy is a self-imposed tax

@bennettaeria130 it's the tech from which the value is driven and not the derivative

Stop looking at the price of Bitcoin. Look at the power of blockchain in 2025. #Crypto

Compute futures and the compute futures curve are coming.

@Hedgeye Cattle and Wheat are in short supply. Steak sandwiches have become top shelf.

Why are beef prices so high? The U.S. cattle herd has shrunk to the lowest level since 1951.

😂😂😂

@DavidBranscum More power to them

The future bottleneck is not chips. It's power. AI, Bitcoin, industrial and data all now compete for the same thing. Reliable scalable energy. You need to understand energy infrastructure. My son is going to be an electrician, his friends are becoming linemen. This is the way.

be kinder than necessary

@BlacklionCTA 🙏

I’ve experienced this less than 10 years ago and now enter another season. It is uncertain and painful, as though He is doing open heart surgery while I am awake. This time praying for an increase in faith that is a gift from the Lord.

@engljanie @byuidaho @BTCedu @BTCStudents Remind them that the education provided there holds more value in terms of bitcoin over four years than in does in USD as printer press induced inflation has degraded the USD-based value of their serves.

What do you do when your university (@byuidaho) cancels your Bitcoin club and says you can teach blockchain but not Bitcoin? "Bitcoin doesn't meet the academic requirements..." @BTCedu @BTCStudents

“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.” — Thomas Sowell

@PippyLongStack @gaborgurbacs 😬

@gaborgurbacs Ironic for a maxi to make this statement considering BTC is largely propped up by Tether, a USD stablecoin… 🧐

Bitcoin is more important than stablecoins.

@Emmonspired True

Energy prices going down is the source of future equity prices going up

Who's not in favor of not wasting energy?

@chigrl 💪

The Spirit of Radio, Rush Back in Black, AC/DC

@ScottiePippen Act now

“The biggest mistake we make in life is thinking we have time” - Kobe Bryant