MotusAK retweeted
Anthropic Pre-IPO Perpetual Market, TradeXYZ contract trading 24/7 on Hyperliquid via @TheTerminal
MotusAK retweeted
Days later, Binance still hasn't enabled $HYPE withdrawals.
Remember their own criteria: withdrawals reopen based on "market cap & demand."
$HYPE is a top-10 coin by market cap and one of the most active chains in crypto. By their own criteria, it should be first in line.
This is what happens when an exchange also runs the casino: they trade against their own users with your funds and data, and when the house starts losing, they change the rules. They hold the whole industry hostage by faking a "hack" and then halting withdrawals.
None of this is incompetence. It's their business model.
Binance / CZ / Yi He are 100% malicious & scammers.
Withdraw everything, ASAP.
MotusAK retweeted
Last night is exactly why no President has dealt with Iran before now
We don't reward Presidents for acting in the best long-term interest of the country
We reward them for avoiding difficult decisions if it means we don't have to make any sacrifices during any given 2yr period
MotusAK retweeted
Is Morpho trying to kill DeFi?
@aave and @Morpho both sent the SEC a legal framework for DeFi lending, one defends DeFi, the other negotiates it away
When you deposit into a lending market or a vault, did you just buy a security? If yes, someone has to register, disclose and answer to the SEC. If no, DeFi keeps running as it is.
The SEC mainly uses two tests:
1- Howey: did you put money into a shared venture and expect profit from someone else's work?
2- Reves: is your position really an IOU, a note someone promised to repay?
Aave's approach (Aave Labs, @kamino , @veda_labs ) On Howey, there is no shared venture. Suppliers use the same pool and rate, but nobody's profit depends on anyone else. DAO votes with timelocks run a market. They don't manage your money
On Reves, the test never starts, as there is no lender, no borrower duty and no promise to repay, so no IOU exists. Vault curators may count as investment advisers, yet they can't touch your funds
That means no custody and no fund. What it wants from the SEC: confirm existing law. No exemption needed
Morpho's approach (CCI Vault Coalition: Morpho, Bitwise, Galaxy) Control is the yardstick. The less any person can change after you deposit, the further you sit from securities law. Ten conditions define the safe zone, including locked or timelocked parameters and no moving funds between markets after deposit
Howey gets fought mostly on "someone else's work." The paper concedes a vault may already count as a shared venture
Lending positions are treated as notes under Reves, and selling them to retail likely leans "security," it admits.
Its request: exemptive relief, a compliance entity wherever someone holds control, and a private fund lane for vetted investors.
So what's best for DeFi?
Morpho's map is detailed and candid about hard cases, which regulators appreciate. The cost is ground given up before the fight begins. Every concession becomes the SEC's starting point, and the safe zone rewards frozen code over protocols that keep evolving. Aave keeps the default where DeFi needs it. Open markets aren't securities, governance can keep improving the protocol, and no company has to stand in front of it.
Adopt Aave's reading and DeFi stays permissionless, but under Morpho's, DeFi runs on a license
curious to hear what @ImmutableLawyer @spynter @lex_node would think about this
MotusAK retweeted
$SOXL is down nearly 10% over the last 24 hours as the US midterm results came in and the AI/compute trade came under pressure.
Trading SOXL perps on Hyperliquid is a fraction of the cost of Binance, with 78% lower taker fees, 62% lower funding and a 35% cheaper all-in cost on a $1M buy.
Trade smarter with Hyperdash's advanced execution and market intelligence today.
MotusAK retweeted
📉A look at the @tradexyz XYZ 100 perp on @HyperliquidX vs the NASDAQ 100 as the votes get counted:
MotusAK retweeted
On Elysium, @NestExchange is building on Uniswap v4
Their first hook, AVR, will read the orderbook price natively onchain and raise the pool fee before each swap based on drift
Value that would otherwise go to arbitrage will stay in the pool
MotusAK retweeted
@NestExchange x @Uniswap
We believe this is a significant step change in what has traditionally been ve(3,3) vs Uniswap.
Through uniswap's trusted core and nest's superior tokenomics and flywheel engine, everyone will get the best of both worlds.
Elysium has the potential to become a positive-sum spot trading hub for Hyperliquid.
Uniswap is the engine
nest brings Hyperliquid aligned growth.
We're excited to start a new chapter and there is so much more coming.
MotusAK retweeted
Equity perpetuals are here: Americans can now trade perpetual futures on individual stocks listed on U.S. exchanges for the first time.
The @CFTC deemed the contracts approved as security futures, which the CFTC and @SECGov regulate jointly. U.S. investors get the protections of both agencies, the oversight Congress intended when it created a dedicated regime for security futures products.
In our August comment letter, we made the case that security futures treatment is the best path for these markets to flourish. Both CFTC- and SEC-regulated exchanges can list security futures, so venues primarily overseen by either agency can compete to offer this new class of product. That competition will improve outcomes for investors.
Equity perpetuals expand the tools that market participants can use to manage risk and take positions on securities in a single contract that never expires. We commend the staff of both agencies for this milestone in our derivatives markets.
Today, equity perps can begin trading for the first time on @CFTC registered exchanges.
This move reflects my commitment to ensuring that America’s markets remain the most innovative, liquid, and well-regulated in the world. Instead of being forced to turn to offshore, unregulated venues to access equity perpetual futures, Americans may now access equity perps on CFTC-regulated markets subject to robust safeguards.
I appreciate the continued partnership of @SECGov and @SECPaulSAtkins as we work to further harmonize our agencies' regulatory initiatives.
MotusAK retweeted
Even though once-niche crypto platform Hyperliquid isn’t officially accessible in the US, its rise has rattled industry titans and caught the White House’s attention bloomberg.com/news/features/…
MotusAK retweeted
Right on schedule, Hyperliquid's second AQAv2 payment hit the Assistance Fund at exactly 00:00 UTC, 24 hours after the test send
$15.92M USDC, 9.2% more than payment #1, within 0.3% of our $15.97M estimate, and enough to buy roughly 190K HYPE at today's price
Funding tx: 0x5405f86d3c1a91e7557f0447ecc00e02057b0052d71db0b9f7cea3bffb1e6bd1
Hyperliquid's second AQAv2 payment to the Assistance Fund looks to be about 24 hours away
A 2.52 USDC test send just hit the AF at exactly 00:00 UTC, the same signal we saw on 10/03, a day before the $14.58M first payment
Payment #2 should be about $15.97M, roughly 182K HYPE at today's price, and lands 11/03 at 00:00 UTC if the pattern holds
Payment #1 funding tx: 0x4f7fde96a716741750f90445b88286020153007c421992e9f34889e9661a4e01
MotusAK retweeted
Quick ones from our side.
1) D2 has no exposure to @Binance. We have never traded there.
2) We pulled our USDC from Aave live-tracking the attacker as he parked 60M USDT in the pool and borrowed 19,762 ETH against it.
3) We are long gamma and trading it.
Forensic tl;dr.
Eight chains, one signing layer. The attacker held the hot-wallet keys. Binance 14 fell to a 7702 delegation signed over 50 consecutive nonces, which is what you do when the key is yours and the wallet is still processing withdrawals. BTC and Tron went on plain signatures in the same 20 minutes. Gross 5.0 to 5.8bn, 2.4bn frozen, about 3bn clean.
Where it sits: 386K ETH across three wallets, 17,270 BTC untouched in 17 wallets, 685M TRX, 970K SOL. The ETH is the laundering leg. Bybit’s went to BTC through THORChain in ten days.
As we write, Binance 14 is still delegated to the attacker’s contract and Binance’s own refills were swept again at 21:04 and 21:44 UTC. Three hours in, the automation that feeds the thief is still running.
This is the largest theft in the history of the asset class and it ran through one company’s signing layer while that company’s scripts kept topping up the drain.
For eight years the industry’s single point of failure has had a logo. Tonight the alternative had its books on-chain, its withdrawals open, and 2.4bn of HYPE perp volume in 24 hours. We have traded there every day since before the TGE. Move.
quick ones
1) Binance has enough to withstand 3-4x of current hit and still be largely intact. Very likely they will shrug this off and user funds are very likely safu (but like obviously don’t deposit until they sort out what went wrong)
2) Wintermute obv has exposure to binance, but less than 20% of net equity and I don’t see any disruption to our operations on any time horizon in whatever scenario