m the foolish

Ah yes look at Jeff Bezos right here telling us we don't actually trade or we're BROKE He's farming us all, be careful guys

I want to clarify that I’m not bearish on $HYPE or what Hyperliquid is building. Quite the opposite. I believe its market share will continue to grow, particularly in the US, and it’s clear why competitors like Binance would view that as a threat. However, I think there’s an important distinction people are overlooking. A major reason Hyperliquid experienced such explosive growth was its decentralised, permissionless nature. It positioned itself as an alternative to traditional centralised exchanges, and that narrative played a huge role in attracting users, building trust, and establishing its reputation. Now that Hyperliquid has achieved significant adoption and recognition, it’s increasingly embracing institutional partnerships and regulated financial infrastructure. The concern isn’t necessarily that these partnerships are bad for business. In fact, they could be extremely bullish.. long term. The concern is whether Hyperliquid is gradually moving away from the very principles that made it successful in the first place. People need to understand that decentralisation and institutional adoption aren’t necessarily mutually exclusive. However, as Hyperliquid expands, KYC and compliance requirements will inevitably become part of certain products and services. It does raise legitimate questions about how decentralised the ecosystem will remain as institutional influence grows. So when people claim Hyperliquid is fundamentally different from every other trading platform, I think that deserves more scrutiny. Hyperliquid can be a solid platform, gain massive market share, and deliver significant value to HYPE holders while still becoming more integrated with the traditional financial system. Being bullish on its growth doesn’t mean we should ignore the potential compromises being made along the way. Ultimately, the real test isn’t whether Hyperliquid can attract institutions or dominate market share. It’s whether it can achieve all of that without sacrificing the decentralisation that helped build its success. So let’s not pretend Hyperliquid is the holy grail of decentralisation. There’s a very real possibility that, as it continues to grow and pursue institutional adoption, it gradually becomes more like the very centralised exchanges it originally set out not to become. Never forget that.

1/ Huge respect for Dragonfly continuing to invest in the bear market. But I'm morally obliged to call out sketchy projects gaining momentum. As a community we must preempt large scale implosions like #FTX or #LUNA that set the industry back years Bitget may be the next FTX 🧵

[SECURITY NOTICE] Bitget Hot Wallet Incident — September 24, 2026 At 18:31 UTC on September 24, 2026, Bitget's security systems detected unauthorized transfers from some of our hot wallets. Our security team activated emergency response protocols immediately. What we have confirmed: -Estimated funds affected: approximately $351.6 million -Cold wallets remain fully secure. Bitget operates a three-tier wallet architecture — the breach contained only a portion of the hot wallet and warm wallet layers. -User funds are safe. The full amount of this loss falls within the coverage of Bitget's User Protection Fund, which currently holds over $464 million Actions we have taken: -Emergency response team activated within minutes of detection -Abnormal transfer addresses identified, flagged, and reported -Withdrawals temporarily suspended as a precautionary measure, pending security review -Law enforcement and on-chain security firms have been formally notified and are engaged What this means for you: -Your account balances are accurate and your assets are protected -Deposits and trading remain fully operational Withdrawals are temporarily paused and will be restored as soon as the security review is complete -What comes next: We will provide updates on an hourly basis across this channel and all official platforms. A full incident report — including root cause analysis and corrective actions — will be published within 24 hours. We will not speculate on the attack vector until the investigation is complete. Bitget has navigated multiple market cycles. We will not run from this. Every dollar and every decision will be accounted for, transparently and in full. Updates will be posted here and across all official Bitget channels as they become available. — Gracy Chen, CEO, Bitget

The $HADES utility. I've always admired the @HyperliquidX team - fantastic ux, speed and a tight ship. We're running $HADES on the same ideology, All revenue generated from the product will be used to perform buybacks, pay for infra and potential hiring (if necessary) The Gates of Hades, built in the depths of bear.