Trump’s Energy Diplomacy: Masterclass in strategic power. Greek Energy Minister Stavros Papastavrou calls it President Trump’s “trademark move”: using energy deals as a carrot for allies and a stick for adversaries — including China, Russia, Iran, and Venezuela. It’s working. •Forged the 3+1 alliance (U.S., Greece, Cyprus, Israel). •Built the National Energy Dominance Council and transatlantic energy partnerships. •Greece and Europe are ditching Russian gas for U.S. LNG — Greece now sources 85% of its LNG from America and aims to eliminate all Russian gas by 2027. •Unlocking Greece’s own gas reserves with U.S. firms (Chevron, ExxonMobil) for the first time in decades. Energy as leverage. Stability as the outcome. American strength projected globally. Brilliant. Effective. Exactly how you lead in the 21st century. ⚡🇺🇸 (Per exclusive Breitbart interview with Minister Papastavrou at Delphi Economic Forum.) Exclusive – Greek Energy Minister Reveals Trump’s ‘Trademark Move’ via @BreitbartNews

Hyperliquid is being treated like the cleanest up only narrative in crypto and I want to add some nuance here. To be clear, this is not Luna. Luna was a closed loop algorithmic peg with no real revenue. Hyperliquid has real fees from real users, a genuinely best in class product, a dominant share of onchain perps volume, and a team that has shipped relentlessly. The bull case is real. I'm not dismissing it. I just don't think the risks are getting the airtime they deserve. I called Luna a ponzi here in 2021 around $50 and got absolutely hammered on the tl for daring to suggest anything negative about it as it ran to $120 before it vaporized to $0 within days. Very similar to yesterday when I simply said HL does not have remarkable tokenomics and got piled on for it. Being early on structural risk often looks wrong for a long time. And Luna was not just a retail rug. It roped in 3AC, Galaxy, Delphi, Hashed. Sophisticated money held the bag right alongside everyone else. Here is what I see with Hyperliquid. 97% of fees buy back HYPE. That sounds incredible, and in an active perps bull market it absolutely is. But fees come from perp volume, volume comes from people chasing the token, and the token is held up by buybacks funded by that same volume. Every leg moves together. It's a functional flywheel. And in the other direction every leg turns at once. However, nobody can tell you how much of the volume is organic either. If buybacks pump the token and the chart pulls in size and size funds buybacks, you cannot cleanly separate real activity from reflexive activity onchain. It doesn't mean the volume is fake. It just means you cannot prove how much of it isn't. Then the supply side. Only 25% circulates. Team and foundation together hold roughly 30% (23% team plus the foundation allocation which is essentially team with extra steps). Buybacks absorb about 90 million of unlocks a month. Actual pressure is closer to 400 million plus. Revenue keeps growing at a real clip, which is the whole bull case, but it has to roughly 4x just to keep price flat through vesting. Then the part nobody wants to touch. 31 validators, foundation controls the supermajority of stake, closed source binary, an assistance fund holding billions that we are simply told has no private key, on a chain the team built and runs. A lot of the business is regulatory arbitrage. Offshore venue, no KYC, users that shouldn't be using it are all over it. The founder is in DC right now precisely because everyone knows this. SBF was in DC lobbying for the DCCPA right up until FTX collapsed. Do Kwon was meeting Korean regulators before Terra blew up. Doesn't mean Jeff is anything like them. And to be clear, none of this means price stops going up. This is the part that matters for traders. Reflexive setups run for a long time, sometimes years. Luna ran from $5 to $120 while plenty of smart people screamed about the structure. HYPE can absolutely do the same. The flywheel is real while it's spinning, and standing in front of it is a great way to underperform. Just know what you're actually holding. Trade the tape, respect the trend, but don't fall in love and confuse a beautiful reflexive setup with a riskless cash machine. We have seen structures like this before and it tends to end the same way for usually the same reasons.

Back in the day, Wilson Wei (Jiequan) & Ryan Li （Yihe） and other guys  allegedly paid $400,000 in kickbacks to Wang Bingyu, a close lieutenant of Justin Sun, in order to accelerate BTT’s acquisition of Lino Network and DLive @OfficialDLive By the end of 2019, after BTT completed the acquisition of the Lino & DLive project and team, core members  including Wilson Wei , Ryan Li , Charles Wayn (Wang Jiaxi), and Shiyu Zhang ,Harry Zhang（Haoran) only stayed at BTT for about a year before leaving. They eventually split into two separate teams and embarked on their next round of token launches（ $G @Galxe and  $CYBER @BuildOnCyber）, conveniently leaving behind what was essentially an empty shell project with no real users for Justin Sun. In other words, at this point  Wilson Wei @WilsonWei777 appears to be the one taking the fall for Ryan Li @ryanli , Charles Wayn @charleswayn , and Shiyu Zhang @shiyuSQ,Harry Zhang @harryhrz . A bit more info about  Wilson Wei: This has already escalated into a criminal case. In mainland China ，pre-trial detention does not exceed one month. After formal arrest approval under normal circumstances, the investigation detention period typically lasts no longer than two months. However, Wilson Wei  has now been held for nearly three months, which usually suggests that investigators believe the evidence is relatively clear and substantial. The likelihood of a conviction and prison sentence is therefore quite high. Figure 1 Wilson Wei , Ryan Li , Shiyu Zhang Figure 2 Charles Wayn, Harry Zhang @multicoin @animocabrands @hashed_official @DraperDragon @incecapital @smrti_lab @IOSGVC @Delphi_Digital @protocollabs @TheSpartanGroup @FoliusVentures @blockchain @dragonfly_xyz @SolanaVentures @jumpcapital @lattice_fund @shimacapital @zachxbt @mrblock @HsakaTrades @PixOnChain @Polymarket @FareaNFts @AshCrypto @Cointelegraph @TheBlockCo @100trillionUSD @tier10k @Tree_of_Alpha @DegenSpartan @Icebergy @arkham @arndxt_xo @alpackaP @blknoiz06 @dlnews

Breaking: Dolphins and Pro-Bowl RB De'Von Achane reached an agreement today on a four-year, $68 million contract extension that includes $32 million guaranteed. First reported by Jordan Schultz, confirmed by ESPN.