mod

The Pre-IPO Perpetual (IPOP) Market for CXMT is now live. CXMT is a pre-IPO market reflecting the market-implied value of 1 ordinary share (A-share) of ChangXin Technology Group Co., Ltd. (SHE: 688825) in USD terms. CXMT manufactures semiconductor DRAM memory chips. After the IPO, the oracle will convert the underlying stock’s Renminbi price to USD at the prevailing FX rate.

@ChairmanSelig @CFTC Hyperliquid

As I’ve said repeatedly, the @CFTC does not take a one-size-fits all approach to 24/7 trading. CME’s decision to disregard the Commission’s effort to undertake a reasoned analysis of the critical issues at stake is wholly inappropriate and necessitates Commission action to stay the certification. Read more⬇️ cftc.gov/PressRoom/Pres…

Very excited to announce that at 12:20am on the 4th of July, Aalo achieved criticality on our first full-scale reactor. We cut it close, but we pulled it off!! Working towards this goal with such an incredible group of humans has been the most fulfilling period of my life. This moment has been three years in the making. Last year, Executive Order 14301 called for at least three new reactors to go critical before July 4th, 2026. As of late last Friday night, that goal has been surpassed! When the EO was announced, we immediately sat down to figure out what the most ambitious scope would be, while still being potentially achievable by July 4th. Some of the team proposed doing simplified designs with smaller fuel loads, or building in existing facilities. One thing was clear: We wouldn't have time to integrate a full-scale sodium heat-removal loop to bring the reactor to its full 30 MWt. So here’s where we landed: ➡️ We purchased the entire commercial-scale fuel load. This is enough fuel to operate at 30 MWt / 10 MWe for 3 years before refueling. To my knowledge, it’s the largest fuel load that’s been taken critical in the DOE pilot program, by far. ➡️ We built a full-scale reactor vessel in our factory, and loaded in our commercial graphite layout. All the dimensions, vessel thickness, and manufacturing techniques are essentially the same as we will use for the imminent commercial version. There will be a few minor tweaks for sodium flow and full-power, but nothing major. ➡️ We built an entirely new reactor facility at the Idaho National Lab. Building a building is easy. Building a new reactor facility comes with a mountain of paperwork, policies, operation and training procedures, security, instrumentation and control, and more. Zero-power criticality might seem like a small step, but I can tell you, going through the exercise of building a reactor and taking it to criticality has been extremely valuable. The learnings on regulatory, ops, manufacturing, supply chain, QA, economics, engineering, and design will accelerate our path through to the final iteration at full-power. America is blessed to have a recent Cambrian explosion of startups in nuclear, all going after different markets, technologies, and strategies. I’m excited that sodium, gas, salt, and new PWRs are all getting pushed forward once again. The best outcome for humanity is to have all these advance in parallel, as quickly as possible, while maintaining safety. Thanks again to our amazing team, DOE, INL, BEA, and everyone else who helped us get to where we are today. This could not have happened anywhere else. Happy birthday, America!! 🇺🇸🇺🇸🇺🇸 There has never been a better time for nuclear energy. The Second Atomic Age has begun, and this one will be here to stay.

you're making a completely different argument now, but to address it, the vast majority of users clearly don't care that their data is being monetized in exchange for access to subsidized or free products and that's a choice they make. regardless, everyone has essentially equal access to major technological innovations after enough time has passed such that economies of scale kicks it. this is practically a law of capitalism because there will always be more money to be made by continuing to go down market and reach a larger audience. the iphone is an excellent and obvious example of this. also, billionaires get tracked and advertised to on the internet in just the same way as you or I. the tools to mitigate this are also available to us all equally as well, none of it is secretly controlled by some shadowy elites artificially preventing access for anyone else.

@wsbmod @elonmusk @chamath So do you get paid for all the data you generate online, in your car, by using your phone? If not, you are the product

everyone owns a car, has an internet connection, owns a smartphone. these are not devices of the rich to control the masses. there is no reason to believe ai or robotics will be any different. millennia of history actually shows the opposite of your point. every useful technology has eventually become ubiquitous regardless of economic status.

This assumes that global elites will not use access to robots & AI as a control mechanism of the masses, or use robots and AI as the control mechanism itself. Millennia of history & human nature suggest it is unlikely elites would allow such freedom, but maybe it’s different this time

Trade[XYZ] and Hyperliquid data is now live on @tradingview. Putting this data where traders live has been a top priority for us. Markets are increasingly shaped by events unfolding around the clock, and price discovery shouldn't stop when traditional venues close. Users now have real-time visibility into 24/7 price discovery on the world's most-used charting platform.

@0xBaseee @unitxyz it sounds like you had some connection to stolen funds or sanctioned addresses which is what would cause a compliance flag so maybe you should stop blaming others and explain why you are trying to withdraw tainted funds.

$40,000 of my funds have been frozen on @unitxyz for over 2 months — Here is the full story, with receipts. This is not clickbait. This is not hate. This is a documented timeline of what happens when a protocol flags your funds, admits the error was on their side, and then has no mechanism — and seemingly no urgency — to fix it. April 18th: I initiated a withdrawal of 17 ETH (worth ~$40,000 at the time) from Hyperliquid to Ethereum Mainnet via @unitxyz. tx hash: explorer.hyperunit.xyz/operations/0x5… 2 minutes later, the transaction showed as "failed." I have completed 100+ deposits and withdrawals through Unit before this. This had never happened. First thing I checked: did the 17 ETH return to my Hyperliquid account? No. Second thing I checked: did I make a mistake — wrong address, wrong network? No. Everything followed Unit's own instructions exactly. So I contacted support. They told me to use the "revert" feature to recover my funds. It didn't work. Here is where it gets interesting. I asked them why. Unit Support: "The revert feature does not currently support this type of transaction, which is why we have not been able to resolve it via that method. We are actively working on expanding revert capabilities, but cannot bypass the existing limitations." - I asked what the "limitation" actually is. Unit Support: "Reverts for flagged withdrawals from Hyperliquid is not currently supported. We are actively working on expanding revert capabilities." Notice the pattern? The same scripted sentence, repeated, regardless of the question. - I asked them to explain in simple terms, why my transaction failed in the first place. Unit Support: "The wallet was flagged as exceeding compliance thresholds and the Guardian set could not reach consensus on the transaction." - So I asked the obvious question: "But why do you flag a transaction without having the ability to revert it? You flag it, it turns out you were wrong, but can't do anything about it. WTF. What's your solution instead of 'just waiting until someday the revert feature will be shipped in 10 years'?" Unit Support: "It's high priority for us and we will reach out here once the revert feature is available." That was their final answer. After a month of waiting. It kept going like this for another month — they kept repeating the same answers and eventually ghosted me. I contacted @hyperliquidbull and @0xmev directly on X under their posts about this case. Both said they would fix it, but nothing has happened yet. If this was truly "high priority", a $40,000 user-impacting bug would not still be unresolved 2 months later. There is a simple, obvious fix available right now: refund me from treasury and revert the transaction on your end afterward. No new feature required. No engineering blocker. Just a decision to make the user whole. The 17 ETH they are holding back was worth $40,000 on April 18th. Today, it is worth roughly $27,000. I have personally lost $13,000 — because of an error on Unit's side that they have refused to remedy for two months. I am asking @unitxyz directly — @sershokunin, @hyperliquidbull, @0xmev — is this how you treat a day-one, loyal user? I believe there are more cases like this sitting quietly in your support queue right now, so I decided to speak up and let everyone know how poorly you handle situations where YOU, as a protocol, clearly messed up. Tagging the hyperliquid team here as well in case you can help me to resolve this: @chameleon_jeff @xulian_hl @iliensinc Please RT and like this for awareness. 🙏

@0xasrequired @praadict @D2_Finance google, facebook, amazon, stripe, airbnb, apple... literally all the best companies in the world?

@praadict @D2_Finance name 5 monopolies that does no exist in a planned economy

I’ve come to accept that HIP-3 was never intended to be permissionless (and neither was HIP-1 most probably) cash mounted the most promising assualt on xyz’s hegemony imo, but in retrospect, even with the full backing of tether and 200k USDT per week, there was no hope for cash wouldn’t surprise me to see hyena wind down soon, officially killing non-USDC quote assets and then paragon winding down, all but killing the permissionlessness of HIP-3 HIP-3 is permissionless, but I can’t help but feel that all the DEXs aside from xyz were setup to fail a market can be both free and anti-competitive simultaneously undoubtedly, xyz has the most capital and the highest level of execution, I’m not saying they don’t deserve what they’ve achieved but a monopoly of this scale is unnatural imo we’d all agree that hyperliquid has the most capital and the most competent team of all perp DEXs, but hyperliquid does not have the same level of monopoly over perps as xyz has over HIP-3 @Markets_xyz’s USDC redeployment and @Perpsdotfun are the only things standing in the way of total xyz domination I think it’s pretty self evident to anyone with eyes that unit/xyz is a proxy/extension of the hl team and if the “builder deployed” part of “builder deployed perpetuals” was really a charade all along, then @0xOmnia must be a very annoying problem, as required.

jfc man. you clearly have no experience with company building. it is precisely the outcome you want. the alternative is you have a bunch of mediocre teams floundering around not building anything of use to users. this is the case across most chains and most of crypto. the reason is because none of those products provide much of anything of value. however, the few that are actually useful are generally dominant players, but it also depends on the type of business. markets in particular are winner take most because of the network effects of liquidity. in general network effect businesses are winner take most or winner take all. the thing ppl like you seem to not grasp is this is absolutely best case. you WANT to produce the dominant outcomes like xyz. all of the best businesses in the world are monopolies. read zero to one by peter thiel if you want to stop sounding like a retard on this subject. having a team capable of outcompeting so well is precisely how you end up with elite world changing products. it would be nice if 1-2 more of these teams emerged on hyperliquid but by definition they are extremely rare and generally only emerge from intense competitive pressure, so it likely takes some time before we see the next one. one thing i'm pretty sure about though is it won't be a team just chasing the opportunities xyz has carved out like basically all of the hip3 deployers did. if you have to rely on another team to show you were the opportunity lies, you are not the kind of elite team im talking about. again, respectfully stfu when you have no idea what you're talking about.

@RealAZKicks I’m not commenting on whether it’s beneficial or not, I’m commenting on the fact that a total monopoly like this doesn’t arise naturally most of the time

this is incredibly idiotic. you are wrong about almost everything. markets are winner take most by nature. using usdc as the quote asset was an option to all deployers and actually the obvious option given there was $5b of usdc liquidity and barely any of anything else. the dreamcash team wash traded their markets and it was obvious to anyone with a brain that typical shady crypto tactics weren't going to work here (nor do they ever work for anything other than grifting). you fundamentally misunderstand how building a business works, how competition works, and the network effects of markets. respectfully, stfu.

I don't like when it's being said that TradeXYZ has "killed" other HIP-3 deployers. I think there just wasn't enough of a will to go the length they're going to in BD efforts, in scaling the markets, and in making sure liquidity is there. And even with all the recent sunsets, this presents an opportunity for teams to come onboard and learn from the mistakes those teams made. It leaves a lot of room for talented, smart people to push the boundaries into areas that have yet to be explored.

1/ Today, @multicoin publishes our HYPE analysis and valuation HYPE is now one of our largest liquid fund positions and we've been accumulating aggressively since February Full report and disclosures in link. Link here - multicoin.capital/2026/06/25/hyp…

ZHIPU is now live. 10x leverage, 24/7, 365.

you are. you are missing approximately $200m in very durable (and growing) annual revenue (which is effectively net income) from the usdc yield share (what everyone is referring to as AQAv2) as well as priority fees and future revenue from hip-4. both of these are small today but you can probably underwrite a good amount of growth there. there are a few other revenue streams as well like hyperevm gas, ticker auctions, etc, but they are negligible and can reasonably be ignored for now.

@RealAZKicks I'm not.

Here's my current view on HYPE. Been working on it for a month or so now and still have more questions than answers. Always learning. My view is HYPE price is a function of 1. growth in global trading volumes in general =V Which is composed of crypto volume growth =VC Trad FI volume growth = VT 2. Share of trading volume = S and correspondingly SC and ST Given the HYPE protocol it's pretty easy to make a bull case for say $400 based on both V and S growth. At $400 further upside seems highly limited in that Hyperliquid would have so much share that further upside is impossible (something like 100x of current revenues) yet the price increase would result in basically flat net coins outstanding or a deflationary inflationary equilibrium. So I get the bull case. As of today my assessment is VC growth expectations are radically too high. VT growth is boring Hyper liquid share of SC is pretty darn big already Hyper liquid share or ST is almost nonexistent so does represents real opportunity. However ST currently is NOT in anyway relevant to tradfi in any meaningful way and is basically for crypto native tradfi tourists and bucket shop customers wanting high leverage and non regular trading hours trading. I see no chance that the bucket shop customer base is durable and sustainable nor is it a sizable when compared to the overall market volumes and never will be. I see high barriers and competitive and regulatory headwinds for ST during regular trading hours AND willingness from existing tradfi vested interest to evolve and meet after trading hours trading volumes so I am very very bearish relative to expectations of real ST market share growth for hyper liquid At mid 70's I think HYPE is a call option. If none of the ST gains are made the existing volumes support a 30 price. This is where I wanted to buy PURR and missed it. So it's a call option trading for 40 that could be worth 330 or zero. (Meaning it falls from 70's to 30's if is a dud). Is that a good buy? Risk forty to make 330. Meh. Would I short it. Nah it's not crazy. I'd love to buy at 35 in the next bear market or short at 100 in a blow off top speculative frenzy even if that occurs in a long term bull trend to 400. For now no position. Continuing to get smarter (still mostly dumb as I'm sure I will be told as soon as I press send). Innovative disruptive things are worth watching regardless of their future. So I am doing that

For years, Americans were pushed offshore to trade perpetual futures while the rest of the world could trade them at home. This spring, U.S. regulators finally opened a compliant path to these markets here. Today, the largest U.S. exchange, CME, went to court to close it. This is what happens when one company controls a market. By @BetterMarkets' count, CME runs about 92% of U.S. exchange-traded derivatives. When one venue holds that much volume, everyone else carries the cost. Less choice, higher prices. Perpetual futures are the first genuinely new derivatives product to reach U.S.-regulated markets in over a decade. More competition among exchanges is best for the people who actually use these markets. These products deserve clear rules. The real question is whether Americans get access to innovative new financial products, or whether one incumbent keeps them locked out. We think they deserve access. As CFTC @ChairmanSelig put it: "Incumbents will always fear the future." But none of us should fear the incumbents.

🇨🇳 🐅

@FreddyLA7 @NASA @AstroAnnimal freddy for german ambassador to the us

This is the coolest thing ever. We’re at NASA getting a tour from astronaut Anne McClain. This is us entering the Orion capsule that flew around the Moon in April.

@_stevenhl i wouldn't say single-handedly. got to give @tradexyz some credit here!

Back in 2024, Jeff talked about how software revolutionized every industry except finance. Hyperliquid was created to replace the old legacy rails of finance. In just 2 years, Jeff has already made great progress by singlehandedly making 24/7 markets mainstream in the US.

@greengeo only took four days lol

Update? Hyperliquid

hype under $68.50 for like 3 more days please