The first 10 days of our DefiLlama partnership served mostly as a market survey experiment. A sliver of its full potential, if you will. And despite the conservative launch, @Trueo_ is seeing material growth. Heading into the New Year, we’re going to ramp up this integration. More markets. More categories. More liquidity. We’re just getting started. So much more to come 🫡

trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States. In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch. We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress. ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid. Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it. ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one. We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them. To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story. Anything. Anytime. On ICE[XYZ].

What you learn from trading crypto absolutely does translate to other markets. Stocks have their own idiosyncrasies with earnings, etc. but the foundational concepts are all still there. Knowing where the demand is. Position sizing, finding the right game to play. These are the same skills you need to know in any market. The main thing that is different is that Crypto is very monolithic. The correlation between crypto assets is higher than stocks though this seems to be getting looser over time. But being able to stomach vol. Knowing where there is blood. Being able to adjust to tail risk scenarios. These are all skills a good trader can take with them. Likewise if you suck in crypto you will likely suck everywhere else too.