I’m excited to announce that I’m joining Reciprocal as an investor! (@recvcx) This is certainly an interesting spot to enter crypto venture. For the second time in its relatively brief history, DeFi is at an inflection point. While I have some ideas, I’m not entirely sure what it will look like next. What I do know is that each cycle, infrastructure improves, crypto protocols get better, and conviction hardens. We’ve had more products go mainstream in the last couple years than ever before. That is what matters. I’m excited to take on the mission of finding, investing, and supporting the next era of great crypto companies with an incredibly talented team. Onwards!

It was an absolute honor to work at Messari for 2 years. One of the densest talent hubs in crypto at it's peak, the Messari Mafia speaks for itself. Bullish on the future of research data, Blockworks now has all the tools they need to crush it.

Robinhood down Hyperliquid up

SPCX is the 6th largest ticker by OI and the 7th largest by volume on Hyperliquid. Volume grew exponentially in the hour or so before the IPO. This level of demand for onchain equities is truly unprecedented.

Hyperliquid (Tradexyz) traders predicted the exact opening price of SpaceX. The Hyperliquid SpaceX perp was trading at 171 just 1 minute before they announced the starting price of $171 per share. app.hyperliquid.xyz/trade/xy…

RT @WPReadingClub: Whitepaper Reading @ @ethconf 2026: Morpho Midnight Thank you to @zeebradoom (@BigBrainVC) for the pizza and @0xCrypto…

In the last month, Ethena announced major partnerships with Coinbase ($20B USDC supply) and Janus Henderson ($480B AUM). Ethena has been too platform-dependent on Aave, and these deals signal a shift toward large-scale distributors, the same playbook that grew Circle (via Coinbase) and Tether (via Ethereum and Tron) into stablecoin behemoths. USDe has an opportunity to carve out a new niche: the 3rd largest denominator for DeFi, with institutional buy-in and distribution.

Imagine a world where retail traders operate at the same efficiency as institutional desks where you don’t need 50 analysts to have the same edge Introducing TrueNorth, the world’s first agentic brokerage built on @HyperliquidX 🧵

This tweet has really stuck with me. - Information moat has eroded - Technical moat is rapidly eroding - It takes far fewer units of effort to produce units of output Decision-making is the most valuable skill on the market today. If you decide to pursue the investment, product, feature, or career that 1000Xs, you still get all the glory. The only thing AI can’t replace is your conviction.

If you’re building in this category drop me a line. @recvcx is actively deploying into DeFi on the sun chain.

1 to this i was absolutely balls deep in SOL during most of the two previous runs, was the only ecosystem i knew and most of my net worth was in the token this hype run feels v similar from an in group / out group point of view on CT. it is extremely obvious who is sidelined and who is enjoying ppl wanted to just categorise solana as a shitty chain for poor ppl with bad investors that goes down all the time, but the economic activity and the dApps told a much brighter story i had a friend who i even gave SOL to in 2022 and started a phantom to try get him to understand and he didn't even use it bc he was so convinced solana was shit now ppl with hype are saying the same shit. it's just a DEX, where's the moat, regulation, hacking risk, competition the worst thing you can do in crypto is have an unfalsifiable thesis, for those who were conservative on regulation imo you were somewhat falsified with the circle / coinbase announcement, or at least risk reduced. that was a signal to change thesis and still get a good entry, but many were already stuck in their opinion the same is true with the perps approval in the US, that was a signal but those already stuck somehow paint new competition as bearish there is finally a good product in crypto that is seeing mass adoption and literally disrupting global trade, if you're in this industry you want to see this product win the other main thing ppl are midcurving is that whether a token goes up or down is solely determined by the buyers vs the sellers. there is substantial buy pressure that is hard-coded into the token and holders are still reluctant sellers, it does not take as much demand as you think it does for this thing to continue to send if you don't own the coin, the very least you can do for yourself is to try not short it. there is a treasure trove of overvalued assets that deserve to be shorted, but the strongest asset of this year is not one of them you may have missed out on the opportunity to make money but there's no reason to lose money on rage shorts there is no hype beta i love u

Lot of top calling on the timeline. Would be a shame if…

HYPE investors believe the risk of competitors launching regulated perps in the US (e.g., Kalshi) is less destructive than the reward of Hyperliquid legally accessing the US audience (e.g., Robinhood 0DTE traders). I agree with this assumption.

3 billionaires in this pic btw

For traders and companies, there is no teacher more brutally honest than the market. A trader with their own PA gets infinite second chances. No one can stop you from trading but yourself. But public companies are not given the same grace. They rarely get a second chance because we are witnesses to their wins and failures. Same teacher, different rules. When and why you launch a token matters much more than how you launch. (this tweet is about MetaDAO and other early-stage launchpads)