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@chamath This degenerate gambler turned a few million in $60 million in a matter of weeks. This guy was 10x leveraged long Solana and was destined to lose his $60mm no matter where he traded. Liquidations in crypto are so aggressive because we give out non recourse leverage, in a traditional brokerage account if you’re levered and your account goes negative schwab comes to collect. In Crypto we don’t allow accounts to go negative, because we’re working on permissionless systems so the liquidation engines need to aggressively protect the protocol. You should spend some time looking into Hyperliquid, it’s the most important company in the world not named OpenAI or Anthropic. You used to speak about how you hate the red tape and barriers to entry that lower income people face when attempting to get into competitive industries like finance, tech etc. Hyperliquid fixed this, because permissionless systems where anyone, anywhere in the world can trade on a level playing field, with no private endpoints or level 4 user data can use their alpha to change the circumstances of their life. True meritocracy. Hyperliquid is also how we PREVENT the next FTX. You don’t have to guess if the platform is solvent or not, it’s auditable by anyone, at any time and there’s no vegan criminal yolo’ing your funds in random venture deals. Open access to financial products and equal democratized access to data are fundamental human rights. I know that my story wouldn’t be possible if I had to wait years and years for series certifications to trade securities. I had alpha and I was able to trade and start accumulating capital because there was no barrier to entry. Spend some time looking into Hyperliquid and you’ll draw the same conclusions I did.

ThinkingUSD ↗