DeFiWarhol

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Hyperliquid quarterly earnings:
Q4 2024: $10.51M
Q1 2025: $132.02M
Q2 2025: $169.84M
Q3 2025: $316.76M
Q4 2025: $255.05M
Q1 2026: $192.25M
Q2 2026: $69M (to date)
Not to be a hater, but are we really just going to ignore Hyperliquid posting 3 consecutive declining quarters?
HYPE-3.5%
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Private crypto capital is mostly moving into infra.
Here's some companies to track ↓
@fun | raised: $72M | Payments infra | Fiat <> crypto rails for apps
@fence_finance | raised: $20M | RWA / credit infra | Backend for asset-backed finance
@liquidtrading | raised: $18M | Multi-asset trading | 24/7 crypto, stocks, FX, commodities, pre-IPO in one app
@multisig | raised: $18M | Stablecoin business finance | Payments, treasury, cards, global settlement
@belo_app | raised: $14M | Stablecoin wallet | LatAm wallet for fiat <> crypto movement
@xomarket | raised: $6M | Prediction markets | User-created
SOL1.69%
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Top Bitcoin crypto cards ↓
@theBTCco
@wavespace_
@GoMining
@xverse
@sat_pay
@bitstack
@fold_app
All these cards allow you to spend your Bitcoin using your card without selling it.
Miss anything?
BTC0.29%
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KAST will flip RedotPay in volume in the next 12 months.
- Introduction of USD cashback (instead of points)
- Instant payment linked to traditional rails (soon)
- Aggressive expansion into new jurisdictions
- Focus on compliance and regulation
Tell me one reason why this won't happen.
Inevitable IMO.
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Every crypto holder will eventually own a crypto card.
Crypto cards & neobanks might be the most asymmetric consumer crypto opportunity right now.
Do everything you can to gain as much exposure to it as possible.
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I think this is a disbelief rally.
There's real institutional accumulation behind it, so it's not a clean bull trap.
But I think that leverage is doing too much of the work.
@cryptoquant_com flagged that April's move was mostly perp demand while spot demand is staying weak so I think that BTC needs time to cool off.
Still, the accumulation is real:
→ Spot BTC ETFs pulled in ~$1.3B in March and ~$2B in April
→ Strategy added 56,235 BTC (total holdings now at 818,334 BTC)
→ Metaplanet added 5,075 BTC
→ Long-term holder positions rising again
If futures positions unwind first, price resets before
BTC0.29%
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The @Polymarket activity went past its peak.
Jan-Feb 2026 looked like a breakout moment:
• Daily transactions hit 4M+
• Active wallets tripled in number
• February 28 set an all-time daily trading volume record of $425M
A few big events drove those numbers:
• US-Iran conflict ($529M+ in volume across markets)
• ChatGPT-6 speculations
• Government shutdown rumors
• Fed rate decisions
• 2026 midterm markets
Politics markets alone did $1.45B in January and $1.83B in February.
Once some of those events resolved, daily transactions dropped back to ~1-2M, and new market creation reduced by 80% from
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Hot take:
Coinbase is getting too much hate for the layoffs.
In 2026 alone:
Oracle: 30,000 layoffs
Amazon: 16,000 layoffs
ASML Holding: 1,700 layoffs
Atlassian: 1,600 layoffs
Snap Inc: 1,000 layoffs
Autodesk: 1,000 layoffs
"Coinbase: 700 layoffs"
Pinterest: 15% layoffs
Meta: 20% layoffs
Block Inc: 40% layoffs
Tech companies have been laying people off for years now.
It's the new normal, accept it.
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Lol
Not what you want to hear from a KOL agency
The bottom is in
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Surfacing risk in DeFi protocols earlier could’ve saved billions of dollars.
@l2beat already does this for L2s, but we need the same review depth for all DeFi protocols.
DeFi Punk'd could fill this security hole.
It's a risk assessment site for more than 8,000 DeFi protocols, where anyone can run a pre-built AI prompt on any protocol and submit a risk score.
Each protocol gets a visual risk score across 5 categories: Control, Ability to Exit, Autonomy, Open Access, and Verifiability.
To check info about any protocol:
→ Go to and search for it
→ Each category shows a color - green (low risk),
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April was the best month ever for crypto cards ↓
1. @RedotPay: $413.8M
2. @KASTxyz: $74.7M
3. @ether_fi: $65.6M
4. @Karta_Personal: $27.6M
5. @useTria: $15.5M
6. @gnosispay: $9.6M
7. @Cypher_HQ_: $9.2m
8. @ready_co: $7.1M
9. Other: $31.1M
The total volume surpassed $650M for the first time.
One billion in monthly volume by Q4. Bookmark this.
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Around 90% of Brazil’s crypto flow is linked to stablecoins, with a lot of it used for payments and shopping from abroad.
Pix already normalized instant mobile payments there, so $BRLA doesn’t need to teach new behavior.
Because it just plugs into what people already know:
→ send BRL through Pix
→ convert to $BRLA onchain
→ use it to settle, trade, or move money globally
→ cash out back to BRL through Pix
Pretty solid case study for stablecoin adoption, ngl.
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