Tolga Guceri, CFA

seeking options and perps makers of ALL sizes. comment or dm me. there is flow, we need ya

Kyan is live on private mainnet beta. Closed launch... you need a code to get in. Max deposit 10k, max BTC size 2.00 per instrument, max ETH size per instrument 50.00. They built a portfolio margin system that actually works. Options and perps working together. Built for retail all the way to institutional. Also actively onboarding MMs of any size to bring more depth to the books. Code: Special-7ftv9x-arb They will be opening up to more users over time so get on the waitlist to secure your spot.

quick compare of kyan vs derive eth mar 28 quotes this morning: - kyan ATM spreads: ~$2.6-3.1 - derive ATM spreads: ~$2.4 on calls, but puts blow out to $5.4+ kyan is currently quoting on parity with deribit, the gold standard for crypto options. deribit is fully centralized. kyan is onchain, accessible to anyone, no middlemen, deposit/withdraw directly to the contract. same quality with none of the hassle.

@naiivememe you're paying rent, but with property appreciation upside (or downside ownership). Mortgage payment is smaller, so you can buy more house. A leveraged trade leveraged more. What could go wrong?

Me making first payment of 50-year mortgage

@itseneff @thinkingvols even being delta neutral could get you in trouble if you had hidden gamma on some short dated expiries.

@thinkingvols Point is if you have a leveraged long/short position you can’t get shaken out from path dependency

Options can’t scamwick you into liquidation

@itseneff @thinkingvols 1. What? Let me know how users who leveraged short puts made out. I think you are referring to being long options with full premium as collateral. And even still... how did being long calls work out, you probably still went to zero on your trade, scam wick or not.

@joshua_j_lim but defi was supposed to remove middlemen, right?... right!?

an exchange-traded product wrapping a defi strategy vault that shorts equity perps against long tokenized digital asset tsy stonks holding a basket of top 10 alts sourced directly from their respective fdns with a locked discount mgmt fee across all layers: 37266428% per annum

@joshua_j_lim @thinkingvols get josh on spaces

1/ quick observations from ATH (BTC $111k) crypto, led by BTC inflows from corporate treasury buyers, has room to go higher macro outlook beyond crypto is less rosy but BTC likely to benefit from bond market turbulence, catching up to gold's q1 move

@thinkingvols feels like we are 2 years into 2025... i'm tired boss

btc was 96k monday...

@ThinkingUSD POS yield?

ETH is trading at the same prices it was during April 2021. If you bought ETH in April 2021, you would be break even right now while: ETH: +0% Bitcoin +42% QQQ +49% SOL +430% Tbill yield: +8% It's over.

@CryptoHayes @VitalikButerin @Bybit_Official why? This is a $1.4 Billion blacklist ("burn").. Bybut learns a lesson. What's the issue? Why rollback? What is the ecosystem value with doing so?

@VitalikButerin @Bybit_Official My own view as a mega $ETH bag holder is $ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016 y not do it again?

.@VitalikButerin will you advocate to roll back the chain to help @Bybit_Official ?

@gregisenberg @CathieDWood your points are valid, but how does the graph show that? Ai tools only recently became mainstream, that decline you are showing happened over years and primarily at a time when AI wasn't around.

This chart is nuts. Software developer jobs down 70% from peak. People will blame the end of free money. But something way more interesting is happening. The middle class engineer is dying. And it's dying because they're not needed anymore. One good dev with Github Copilot ships what entire teams did five years ago. Microsoft just reported the highest revenue per employee in history. The "entry-level engineer" doesn't exist anymore. Instead, we have product builders who happen to code. Armed with AI, they ship entire products in days. Meanwhile, the truly elite engineers are making more money than ever. And they've shifted to working mostly on frontier tech. I mean the stuff that's really hard. AGI at OpenAI. Designing rockets at SpaceX. Self-driving car tech at Tesla. Product builders are becoming solopreneurs and creators Frontier engineers are making hedge fund money In 2025, "software engineer" doesn't mean what it meant in 2020. And that's what this chart really shows. The middle is gone. The top is elite status. And everyone else is becoming a builder.

@RampCapitalLLC if I spend $10/month, make $6/month and reduce my expenses to $6/month, I just stopped the bleeding, there is not money being saved (only debt)

Stupid question: Where is all of the money that’s being saved by DOGE going?

@traderview2 @AggrNews (USDC covers a ton of chains/native tokens)

@traderview2 @AggrNews Do you know who Circle is? They happen to have $56 Billion in circulation of a stable coin everyone already uses.

CFTC ANNOUNCES CRYPTO CEO FORUM TO LAUNCH DIGITAL ASSET MARKETS PILOT PROGRAM PARTICIPANTS WILL INCLUDE CIRCLE, COINBASE, CRYPTO.COM AND RIPPLE

@axelonbitcoin Index ETF's, sector ETFs, Macro US ETFs, all require holding underlying stocks that make up the ETFs so they are not considered derivatives. The only true statement here is that blackrock custodies 5% of MSTR for all market participants that hold their products.

BlackRock now owns 5% of $MSTR Thoughts?

@TheFigen_ Temu vibes

@scottmelker ETHA is a publicly traded ticker, you don't need blackrock to custody your brokerage, so they aren't even customers (unless you count the implicit etf fees).

Ok. BlackRock buys 110,535 ETH worth $284.92 million on behalf of their customers who bought ETH ETFs would be more accurate. BlackRock is not actively buying ETH for BlackRock. Or Bitcoin. Pretty important nuance.

@TealFinance @thinkingvols To be clear, this might still be bullish native chain tokens and basis "stable coins", but is likely to drive defi capital away from regulated stable coins if protocols now have to KYC to know if that account is US based or not.

@thinkingvols @TradfiBoomer The main difference to be fair would be on which chain it resides. On fedchain, then it's a CBDC. On a L1/L2, stablecoin.

feasability of the btc reserve.... kek

@TealFinance @thinkingvols if you impose regulatory constraints on Circle (USDC) and force them to KYC/Whitelist accounts, you are affectively creating a CBDC. Circle just becomes an appendage of the government and gets tax free treatment if they comply. That is a CBDC wrapper.