I am proud to publicly announce Hyper Holdings Global @HyperHoldings today. We are a consortium of investors, institutions and entrepreneurs with a mission to bridge the gap between legacy finance and the Hyperliquid ecosystem.    The first step towards this is in our strategic alignment with @Grayscale as they launch their Grayscale Hyperliquid Staking ETF $HYPG. For over a decade, Grayscale has been a pioneer of digital assets within the traditional financial system and has some of the deepest ties with US regulators and policymakers. They established the first publicly-quoted Bitcoin fund and secured the legal precedent that opened the door to spot crypto ETPs.    They have consistently used their positioning to protect and promote crypto, and now are helping shape policy and educate investors that will directly impact Hyperliquid's future.    $HYPG serves as an on ramp to bring serious, long term capital into the Hyperliquid ecosystem. This represents a historical moment in HYPE’s history and we are proud to be a part of this launch with Grayscale.    I want to thank every investor of this initiative and appreciate their patience and coordination as we worked to make this a success over the last several weeks. I am pleased to be joined by @multicoin, @hypurrdash, @MotusAk and other strategic individuals from around the world as we kick things off.    This is just the beginning. More to come soon.    Hyperliquid

1/ Today, @multicoin publishes our HYPE analysis and valuation HYPE is now one of our largest liquid fund positions and we've been accumulating aggressively since February Full report and disclosures in link. Link here -

While we wait for $SPCX to officially list on Nasdaq, Hyperliquid's Pre IPO Perps (IPOPs) have traded over half a billion dollars in volume in the last 24 hours. Price discovery occurs on Hyperliquid.

How @fun's Costco Model Is Winning The Onchain Payments Race with @AlexKFine Timestamps 00:00 Intro And Recent Raise 00:38 Fintechs Going On Chain 01:27 Fun: Highest Converting On-Ramp 03:55 Three Eras Of On-Chain Payments 05:38 KYC Bad Risk Models 06:01 99% Fiat To Stablecoins 06:39 The Costco Revenue Model 07:49 $40M Deposit Must Clear 09:30 Smart Personalized Deposit Flows 23:54 AI At Fun Discussion 25:07 AI Plus Six Nines Caution 26:37 Separating Self From Company 27:30 Stress Is Probably Accurate 29:46 Agentic Payments Are Coming 31:03 AI Needs Blockchains For Money 33:36 Fintech 50 H2 Plan

Introducing LI.​FI Intents. Infrastructure for apps, wallets, and neobanks to: • Enable stablecoin payments • Access real-world assets • Tap into compliant onchain liquidity Built for enterprises bringing financial products onchain.

We were deeply honored to have had @multicoin as a Headline Partner for HYPE Miami. Their thesis-driven conviction and relentless support for founders are reshaping the financial stack as we know it. A special thank you to @SpencerApplebau and @shayonsengupta for their leadership and expert insights. 🏛️

At 10:30 ET, the Banking Committee will mark up its portion of CLARITY. Bipartisan negotiation maintained the core growth drivers & the BRCA, while addressing consumer and investor protection priorities of both caucuses. We strongly advocate advancing the bill with a Yes vote.

1/ Today, Privy is excited to partner with @Yield_xyz to bring policies to agentic yield. Yield is continuous, with rates moving + positions shifting in real time. AgentKit is purpose-built to give agents access to thousands of yield opportunities across chains.

Today Fun announced a $72M Series A. Since founding Fun has grown to serve millions of users and is now processing tens of billions in volume each year. We’re still early in this journey, but this is a good milestone to acknowledge the folks who really got us this far. I’m appreciative for team members like @chloefunxyz, Panda Xu, and Gabby Labi Tordjman who stuck with us through early & hard times. Grateful for folks like @connormcewen & Jeffrey Caron who have led to the team to where we are today. A special thank you to @ullastweets – who saved the company in our early days and has been a steadfast supporter on our board. There were many early supporters I learned from – like @cory & @justinmateen who supported me in getting off the ground. Obviously, a thank you to the partners who trust us with some of their most important money flows. Appreciative for the 30+ team members at Fun grinding through nights & weekends to make our business a reality. Finally, appreciative for the backers who put up the capital for this next round on growth – @SpencerApplebau, Jonathan Lim, @ullastweets, Jeremy Jonker, @aghosn9 and more. Those who know me well know I’ve always wanted to build a “real” company, and am feeling grateful to be at the starting line. Fun builds the highest converting money flows for the largest global fintech applications. If you like to solve hard technical problems, believe global capital markets create good, and love to craft beautiful products, I’d love to meet. We’re aggressively hiring in NYC & Singapore. (photo on 2024 election day)

We have a pretty structured memo process at @multicoin for venture deals The 2nd section is called "Why does this present compounding returns?" ie what are the moats and network effects The section written for @fun memo was one of the most dense and compelling we've ever written It's also the most buttery onboarding UX we've come across since the inception of the firm So excited to be along for the ride with @AlexKFine and the rest of the team as they bring global payment rails to modern fintechs across web2 and web3

Our GC @xethalis sat down with @ChairmanSelig at @TheBitcoinConf. The Chairman is a pragmatic and principled leader. I look forward to working as a member of his Innovation Advisory Council and seeing what he accomplishes to move the industry forward.

Thrilled to back the leading yield exchange on Solana. We've been talking about rate trading at Multicoin for ~5 years, and it's amazing to see someone as talented as @ttrofel is going after it So excited to be on team Exponent and more to come from us on the thesis soon 👀

Sometimes you just have to get aboard rocket ships I'll also be moderating a panel with @rediamondjr and @Mclader at @consensus2026 talking about all things Hyperliquid If you're building in the ecosystem, reach out to @shayonsengupta and myself, we want to allocate capital