CapitalT

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🚨 Meet the first company officially wiped out by AI. Which one is next?

$BTC has traded below Realized Price in EVERY major bear cycle. 2011, 2015, 2018, 2022 That means every major drawdown so far has eventually revisited Realized Price. Realized Price is 56K.

Bitcoin Percentage of Supply in Profit/Loss

@MemeCore_M @Grayscale Officially recognized on @ZachXBT ! We’re just getting started. Please provide a single data point to support your $6B mkt cap at a top 20 token and why insiders hold >90% of supply.

Since the KelpDao/AAVE exploit and freeze I’ve observed substantially less dunking from the Solana eco, than from other ecos during Drift. But it should be closer to zero. I understand the want to call out hypocrisy from those calling Solana protocols not DeFi, while essentially being no different. It’s fair enough. But the grave dancing must stop. Ultimately we are our own worst enemy and will cannibalize ourselves before corpo chains ever have a chance to. I know tweets like this are low impact, but maybe it will resonate with a few people who see it benefits no one to mock protocols and users who lost millions. Thank you for your attention to this matter.

Of course, people want $BTC to go higher. They turned bullish late and are now exposed in late longs. Naturally, they’re directionally biased based on PA that has already unfolded, without being positioned beforehand. Double sweeps have been very consistent this cycle.

In a few months you won't be able to look at the $BTC chart and tell me where the Iran war started and where it ended. It won't matter on the greater scheme of things. The crypto bear market did not begin because of it, and it will not end because of it.

Those who say "crypto is dead" or "DeFi is dead" don't know what they are talking about. Banks never operated in such harsh conditions, and they always get saved by the Big Printer. As a result, their infra is horrifically bad. In DeFi, we have to make sure that our stuff is solid, and only the fittest survives

A summary of the RAVE -95% price fluctuation from $26 to $1 over the past 24 hours. RAVE Timeline: April 18, 2026 7:26 am UTC: I posted a call to action for Binance, Bitget, & Gate to investigate RAVE market manipulation and offered a $10K bounty. 10:56 am UTC: I posted an update increasing the bounty to $25K. 11:18 am UTC: Bitget publicly acknowledged the call to action. 2:08 pm UTC: Binance publicly acknowledged the call to action. 3:06 pm UTC: RaveDAO posted claiming they have no involvement. 4:19 pm UTC: Gate publicly acknowledged the call to action. In the days leading up, on April 13 & 14, I confronted RaveDAO co-founder Yemu Xu (wildwoomoo) but have yet to receive an answer. RAVE launched in Dec 2025 on Binance Alpha with a 1B total supply. The addresses below, linked to the initial distribution, control ~95% of the RAVE supply (h/t Mlm): 0x9831156F1a6E506Fca41503590b42F07c2e80f54 0x8Ed6245C3276307E1A9D9Dc872E98A0E770070fd 0x6020656d1EF182173E45D4Fc375BDD5a48c674B0 0x2664cB80a5ee7D8EC05fe7C752dD62E078056E6d 0x2D81F8AeBf3e58A5e638006c9fd8F38C5220ecab 0x31694d761A8e851cFFbCd286aC54D01e5Ce5aFe6 0x0A1F07993a51CcEb4f52CA67765AECeADDA790d7 0xEB74Df8588cFC1C179Df4bd96C0bB8B227B9bE92 0x53d7d52301366DC14E1916b14eFeC1aDD8F3487b I found suspicious CEX activity in April 2026 tied to RaveDAO team addresses onchain, which potentially contradicts their recent statement: Bitget 0x2dc20f2180582172f5450c5d71e23fa438a7031b 0xa3a02aeb97fc1737c66f50d07d024799c137891d 0x2d95eb42525e6087e0cb7869f98da6838ed2e743 Gate 0x31711246b05d71e9eda5e38a3abb654020ee3353 Given the supply concentration, the team at minimum knows who is responsible for this price action. A simple litmus test: $6B in market cap was wiped out on just $52M of 24hr liquidations (h/t CoinGlass). That ratio points to a manipulated and unsustainable valuation. RAVE is not the only token with manipulation we have seen on major centralized exchanges. It's just the most blatant, reaching a top 15 market cap within 10 days before dropping 95% in hours. Other projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER. Exchanges need faster intervention on manipulation. Detection at scale isn't easy, but each day of delay means retail traders absorb losses while platforms collect fees on the volume. The outcome is the same regardless of intent. While it's good the exchanges responded, I find it unlikely this activity wasn't spotted internally before I raised it publicly. I recognize how much this behavior takes from retail traders, and I plan to investigate similar movements in hopes of identifying the responsible parties. I want to reiterate that I did not take a position. If I had, I would have been liquidated myself. I also could not anticipate if or when the exchanges would comment publicly. My $25K bounty will remain active since the only DMs received were unverified claims rather than non-public information with supporting evidence as requested.

🚨 I don't think people realize how bad things are at @aave right now. All core markets are at 100% utilization, that includes $3 bil in USDT and $2 bil in USDC stuck! That means you CAN'T WITHDRAW your money! A long post on why and how we ended up here. When the rsETH exploit happened and AAVE incurred bad debt, whales like Justin Sun, MEXC exchange, and others immediately withdrew billions from AAVE. This instantly drained all available liquidity in key core markets like ETH, USDT, USDC and so on. Those first to withdraw got out, laggers got trapped. Initially, the ETH market hit 100% utilization, meaning you could not withdraw your ETH from AAVE. Worse, this also means the protocol can't process ETH liquidations should ETH price fall/crash. If you can't sell any ETH, you can't liquidate to cover debt obligations. That means the risk of more bad debt incurred by AAVE is increasing the longer its markets remain stuck. Nevertheless, users can still sell at a minor loss the aETHwETH tokens on Uniswap or similar aggregators. That exit door is the last one remaining for ETH depositors on AAVE. The same cannot be said by depositors of USDT and USDC. They are stuck. That's because AAVE lost over $6 billion in liquidity in the past 24h. As whales took out their money, USDT and USDC also hit 100% utilization. These markets are now also stuck with money locked. Panic is spreading and desperate times call for desperate measures. Some users decided to borrow against USDT/USDC and exit via other markets at a 10-25% loss (90-75% LTV). Basically you borrow GHO/DAI/USDe against your locked USDT/C. But as more liquidity leaves AAVE, more markets get to 100% utilization and get locked/stuck due to low liquidity. This is quickly cascading across all available markets. Luckily the crypto market was rather flat today so liquidation risks were marginal, but if things change there are billions in stablecoins and other assets locked on AAVE that can't process liquidations = more bad debt for AAVE. If users or related protocols that are stuck need access to their money to prevent liquidations or other critical function, they have a huge problem on their hands. Plus, nobody wants to deposit (or provide liquidity) in these markets now since your ETH, BTC, USDC/T could be stuck there for who know how long. As soon as any available liquidity is made available, it is instantly taken out by bots fighting to get out. As I wrote this I saw 250k in liquidity on USDC vanish in seconds. Then there is the bad debt question. There's over $200 mil in bad debt incurred by AAVE via rsETH that's like a hot potato. Nobody knows who will eventually pay this bill. If you didn't remove your assets from AAVE, you risk receiving at least part of that bill in some form. Not having access to your money is part of that risk too. Contagion is also extremely high. Many protocols and apps rely on AAVE for their earn mechanics. These protocols and their users are stuck too and may be forced to incur bad debt with no fault of their own. October 10th was a CEX driven crash, this is a DeFi risk mitigation failure of epic proportions. AAVE should have never onboarded rsETH as a collateral asset, at least not to the size of hundreds of millions that allowed the hacker to walk away (i.e. borrow) over $200M in ETH after posting fake collateral. Rumors on X are saying rsETH was onboarded by AAVE due to a conflict of interest (lobbying) by a given service provider. If true, this is a major failure of its governance structure (nothing new). The folks at @KelpDAO who manage rsETH also have a tough decision to make on who will actually pay for the $200M exploit. AAVE users? L2 rsETH users? Everyone affected gets a haircut to account for the loss? The AAVE team and its founder, Stani, have been quiet for over 20h since the exploit after initially announcing the rsETH market freeze. They have a pretty big problem on their hands since the whole protocol is at risk right now. Trust is already lost as AAVE is bleeding billions in TVL to the level of hitting 100% utilization on all core markets. Maybe some key actors in the space will step in to provide liquidity to stabilize the markets on AAVE before this gets even worse. I got lucky to get out of AAVE early when I first saw this. I also removed all assets from DeFi and will not touch any protocol in the next few weeks. Too much risk for a few percentage points in yield. If you found this informative, like, share, and follow @duonine

The pain in Bitcoin is still heavily concentrated in recent buyers. Around 62% of Short-Term Holders are underwater, vs. just 28% of Long-Term Holders. The weak hands are still being flushed out. Historically, true capitulation doesn’t arrive until closer to 40% of LTHs are in losses. We’re not there yet. That suggests either more downside… or more likely, a longer period of sideways consolidation while underwater holders slowly “graduate” into the long-term cohort. Chart → onchainmind.io

@StaniKulechov @SuhailKakar Biggest fuckwit in defi

@SuhailKakar This is not DeFi

defi is fucked lol drift just got drained for $200M+ and here's how: - attacker minted 750M fake tokens - made a raydium pool with $500 liquidity, priced at ~$1/token - compromised admin key listed the fake token on drift - disabled all withdrawal guards in one tx - deposited $785M of fake "collateral" and drained every vault in 31 txs over 12 minutes - nobody noticed for an hour - attacker came back 2hrs later to grab a few more million the multisig was 2/5 with a 0-second timelock. $200M+ protected by two signatures and zero delay. and people wonder why nobody takes this industry seriously

life comes fast at you

@brc20niubi L take

币圈的荒诞之处在于涨了100x的项目要被调查，一路归零的项目却无人追责

As a follow up to the recent events involving Kelp DAO, I want to reiterate the following: - Morpho smart contracts are safe and continue to operate as intended. - The exposure was limited with curators taking preemptive measures immediately. - Only ~$1M of ETH is borrowed against rsETH as collateral, across two isolated markets out of thousands. - Of this, only 2 of ~500 Morpho Vaults (with >$10k in deposits) have exposure to these markets, with the final impact dependent on how the situation unfolds. - Every other vault is not exposed thanks to Morpho’s fully isolated market design. Although the direct impact to Morpho was limited, there may still be second order effects due to broader ecosystem exposure. Stay safe.

$BTC July/August Sell me all your bitcoins and fxck off.

Wish I had better news but looks like WETH on aave is fucked. Withdraw if you can but likely too late. After umbrella settles normal deposits should be partially withdrawable. A big hit to the DeFi vision

@RaveDAO Lol what a load of bullshit

1/ We are aware of the rumors and accusations circulating regarding $RAVE and RaveDAO team. We want to be clear: RaveDAO team is not engaged in, nor responsible for, recent price action. We take transparency seriously and remain humbled by the attention, but our focus is on the mission: bringing mass adoption to Web3 through live events.

🚨 20 minutes before Trump announced the Strait of Hormuz was open, someone dumped 7,990 Brent futures. A $760M short.

we’ve been testing our new Base and ETH token buy flow all week long now it’s time to give away all the tokens we bought! one person who likes + reposts this will get everything shown in this image sent to their MoonPay account on April 24