My profile of @HyperliquidX co-founder @chameleon_jeff.

We met in Washington, DC, to discuss the future of the wildly successful crypto platform whose rise has rattled industry titans and caught the White House’s attention.

bloomberg.com/news/features/…

Tune in to find out more about “trustless” systems — ie systems nobody has any trust in

Scoop! T3, an initiative set up by some of crypto’s largest companies to curb illicit activity, has quietly been dissolved.

It was set up by Tron, Tether and TRM Labs in Sept. 2024, but shuttered in August amid slow response times and poor coordination.

On the Terminal now 🖥️

Who should we profile next?

So for all the AI theorizing this is basically a throwback to the 2022 Axie Infinity/Ronin hack x12

bloomberg.com/news/articles/…

One of Binance's engineers was interviewed by a person claiming to be the chief executive officer of a fictitious company over a social chat app, and asked to download an assignment containing a “malicious code repository”.

Eerily similar to this (a scoop of yesteryear)

theblock.co/news/regulatio…

I joined @sarahsholder and Adam Farrar for Bloomberg’s Big Take podcast on the $6.4 billion Binance hack.

We break down what happened and explore how curiously calm the market reaction has been thus far.

bloomberg.com/news/audio/202…

This is a great read from @sidcoins and @emilyjnicolle.

I find it quite baffling that the traders quoted here so willingly divulged their efforts to profit off the hack, but I guess that's why I'm not a trader.

bloomberg.com/news/articles/…

Oh damn I front ran @matt_levine

The latest: Net withdrawals from the platform reached $4.7 billion by Monday morning in London, according to a Binance spokesperson.

bloomberg.com/news/articles/…

Traders seem relatively sanguine.

The way Binance has so far absorbed the hit is “absolutely mind-blowing,” said Karl-Martin Ahrend, co-founder at Areta. Some outflows and rebalancing from traders is “absolutely expected,” he said, but he doesn’t foresee longer-term impact.

By evening in Asia, Binance had seen some $3.5 billion in net outflows.

Quant firm SQS Trading has about a quarter of its trading capital on Binance, and is cutting that by roughly a third. Others are unfazed.

All eyes on withdrawal data now.

bloomberg.com/news/articles/…

New: Binance Restores 90% of Stolen Crypto, Promises Withdrawals Soon

On the Terminal now 🖥️

Mandatory “tick tock” breakdown of the astonishing Binance hack from the Bloomberg Crypto crew ft. @bdanweiss, @MuyaoShen, @olgakharif and @resate_z

bloomberg.com/news/articles/…

The $6.3 billion crypto heist that targeted Binance was unprecedented. In the past, disaster for one crypto platform has tended to soon spell trouble for others. But so far, the digital-asset market has digested this hack with relative calm bloomberg.com/news/articles/…

This one is wild

bloomberg.com/news/articles/…