WOULD

HL is literally the best perps in the game and have built an incredible product that we all strive to compete with, but open source and decentralization have always mattered and what separates us from Tradfi. We seem to have forgotten that along way.

Today, Bloomberg reported on certain incumbent traditional exchanges raising concerns about the integrity and impact of markets for perpetual derivatives on Hyperliquid. These concerns are unfounded. Hyperliquid offers enhanced market transparency, publishing a complete onchain record of every transaction in real time, making it a uniquely hostile environment for insider trading or price manipulation. Hyperliquid’s transparency serves as a strong deterrent for misconduct and facilitates surveillance, detection, and investigation by regulators and law enforcement. Hyperliquid also offers 24/7 trading, an innovation that substantially increases market efficiency. Prices move whether traditional exchanges are open or not. Continuous trading eliminates gaps and discontinuities between legacy market hours, improving price discovery for all participants. Bloomberg correctly reports that U.S. law is not currently tailored for derivatives markets on public blockchains like Hyperliquid. We look forward to continuing our work with policymakers in Washington to bring onchain markets inside the regulatory perimeter.

The biggest $HYPE long position on Hyperliquid, which almost got liquidated during the $20 dip in January (he added margin to save the position), is now up $10M on the long. He was down $26M all time PnL in January and has now fully recovered to $6M all time profit. He’s currently long 1.38M $HYPE worth $63.2M 0x082e843a431aef031264dc232693dd710aedca88

Cerebras was a test. When SpaceX, Anthropic, OpenAI, and every other major company IPOs, the whole world will be watching Hyperliquid.

This is the most blatantly obvious fool-proof no-noise signal of this cycle that got shoveled into your mouth. If you are longing stuff, it is not a bad idea to derisk today, before your overleveraged ass got raped.

This is my worst day on earth financially. $700K got instant deleted. Posting the loss here, and let it be a humbling reminder of the risk of leverages, even small ones. Very devastating both mentally and financially. But not the end of the world. I am still in the game, and will continue to trade and post my research here. Hang on there fellas, we will recover.

:)