Just have a think about where we started, what we’ve gone through and the insane things that have happened already. The beeple post The Elon like ❤️ The kol vamp which we destroyed Proud to be a solana:5tCju6YNxHq5zrA6tGndr6F7TK42mpUFmeE31cSFpump holder

good chunk of fomo’s gtm team is 22 or younger including myself think consumer crypto/onchain equities will be a super innovative narrative that brings in a lot of smart young individuals

I don’t even know what to say anymore. Bro is reaching new levels of delusion, arrogance and perhaps even crime. The absolute gall to blame traders. This guy has a MASSIVE platform and has used it to: - Run a dog water memecoin about HIMSELF - Hard shill pumpfun everyday - Launch a pump fun wrapper and attempt to sell a couple of tweets for $100k - Start a podcast with fucking Banks of all people - Build another trading terminal like we need one of those All the above take the space backwards. It’s a real shame because he has the capacity for so much more but chose to take the cheap personal gains over real leadership. Makes me sad man.

Friendly reminder during these tough crypto markets Do nothing

$PEARL was hyped as AI Bitcoin: fair launch, no premine, no VCs. Turns out the lab behind it quietly raised ~$130M. Per @TheMarker (25th of Oct) $55M equity across two rounds from Lightspeed, Ribbit and Square Peg, plus a separate $75M fund for the company's own GPU array. Israeli outlet ICE matched it to corporate filings. No comment from @prlnet or the founders yet. I closed my long on the way down. Rode it from 5 figs unrealized back to almost flat, plus a juicy funding bill lol. The tech is still one of the most interesting things in crypto x AI. But with emissions this high and a launch this concentrated, a big part of the narrative is kinda dead rn imo. What still holds? The coin is fair in code. No premine, no token allocation for founders or investors. You either mined PRL or bought it. What doesn't? - The start: Difficulty began at the minimum and could only climb ~0.03% per block, so for days blocks came every ~12s vs a 194s target. Day one minted 12.3% of all PRL to date. The first six days minted a third (120M PRL, ~$210M today) on ~1/60th of today's hashrate. - Emissions: ~1.15M new PRL a day, ~$2M at $1.75, ~23% of daily volume. Hashrate tripled since late Aug, so blocks land every ~161s vs the 194s target. That's +83% to +97% more supply over the next 12 months. - Mining: One pool found 52.6% of the last 500 blocks, the top five 91.8%. So why does the raise matter if the coin was fair? Bc nobody outside the lab knows who owns that supply: - Do investors or the team hold PRL, and how much of week one did they mine? - Does the $75M GPU array mine PRL? Pearl GPUs mine as a by-product of inference, and the lab sells inference on its own API. - Will any of it be locked? Venice ($VVV) runs the same equity plus token split. But Venice announced its $65M raise, filed a Form D, locked investor tokens and burns part of its revenue. Pearl has none of that and trades at a $3.7B FDV. Price barely reacted: ~$1.80 when the story broke, $1.75 now, ~29% off the $2.46 ATH. The real test is Coinbase (roadmap since the 19th of Oct, no date yet). It's the first venue where early miners can sell size into real books, on top of ~1.15M new PRL every day. What gets me back in? - Disclosed investor and team holdings, incl. week-one mining - A clear answer on who controls the GPU fund and whether it mines - Locks on lab and investor PRL - Inference revenue that actually reaches the token A rebound is easy while liquidity is this thin, and if the team fixes this it can run again. I'm just not back in before they answer. NFA ofc.

1/ An investigation into @The__Solstice, top #3 social trader, and his ties to a massive bundling operation

Payward, the parent company of Kraken, announced its intention to be the first CFTC-regulated deployer on HIP-3* markets. Payward will use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US clients. Subject to regulatory approval, Bitnomial, Payward’s CFTC-regulated DCM and DCO, would act as the HIP-3* deployer: creating, owning, and administering the markets and clearing and settling the contracts. If approved, NinjaTrader Clearing, Payward’s CFTC-registered FCM, would carry client accounts. HIP-3 will support optional deployer configuration for permissioned markets in a future network upgrade. This set of additional deployer functionality is collectively called HIP-3*. At its core, HIP-3* activation involves an onchain allowlist managed by the deployer or its sub-deployers. The functionality is strictly additive to HIP-3; its use is optional and up to the deployer. Existing markets remain unchanged. The initial release is available on testnet, where specifications are preliminary and subject to change based on feedback. Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system. HIP-3* gives deployers additional functionality to operate deployments consistent with the requirements applicable to them. As with HIP-3, HIP-3* deployers are independent operators who use Hyperliquid as the onchain infrastructure layer for their own markets, while retaining control and responsibility over their deployment.

NEW: @cz_binance RINGS OPENING BELL AT @NasdaqExchange