The rough outlines of what happened today:

- Trump in the AM starts re-escalating tariff concerns after 5 months of acting normal and allowing the market to get comfortable w the TACO thesis. This is a pretty big deal

- Most people still assume it’s a nothing…

I’ve lived through 2018, 2020, 2022… but this one felt biggest crash ever..

- $1T+ wiped
- $20B liquidated in under an hour
- Exchanges went down
- some stables depegged, chaos everywhere

Here’s what really happened and what I think comes next:🧵👇

I spent 3 years showing up every single day 24/7 I sacrificed everything from friends and family and health literally put swear blood and tears into this and in a matter of seconds everything is gone.
I have nothing to show for my work and and I will never…

My thoughts on yesterday’s crypto crash:

TLDR: We’ll be fine. We always are.

I’ve been in this industry for 9 years now, and I’d say I’ve really seen it all. The COVID crash, the $LUNA meltdown, the FTX collapse, you name it.

But what we witnessed yesterday…

hyperliquid leaderboard sorted by highest 24h LOSS

Lot of crypto folks asking me "What happened?"...

It's probably time to dust off the Taleb book 'Antifragile'.

The amount of Open Interest that has been taken off in one day is unreal. 15B -> 6B on hyperliquid alone, the real total number must be insane!…