Pinned Tweet
New Episode w @knimkar, PM @anagramxyz
We discuss
- Managing a liquid book in current conditions
- Betting on MetaDAO ecosystem
- $SHFL and $CARDS thesis
1:50 How a Liquid Crypto Fund Builds Conviction
3:54 Why Liquid Funds Are Betting on MetaDAO
12:01 Should You Own es Built on It?
14:52 The Credible Thesis
16:57 Cash Flow Assets vs. Belief Assets
19:58 Why Buy and Hold Has Failed in Crypto
24:31 The Shuffle Thesis
32:45 Why Collectibles and Pokémon Could Be Crypto’s Best RWA Bet
38:35 Where Crypto Markets Go From Here
We discuss
- Managing a liquid book in current conditions
- Betting on MetaDAO ecosystem
- $SHFL and $CARDS thesis
1:50 How a Liquid Crypto Fund Builds Conviction
3:54 Why Liquid Funds Are Betting on MetaDAO
12:01 Should You Own es Built on It?
14:52 The Credible Thesis
16:57 Cash Flow Assets vs. Belief Assets
19:58 Why Buy and Hold Has Failed in Crypto
24:31 The Shuffle Thesis
32:45 Why Collectibles and Pokémon Could Be Crypto’s Best RWA Bet
38:35 Where Crypto Markets Go From Here
13
3
52
4,703
Rachit Agarwal retweeted
matt been talking about about this for a while
If you're looking at hyperliquid:native up 14% and wondering if you missed it, please consider that 99.9% of Americans do not know it exists. We exist inside a very unique bubble here on CT. We are just getting started.
1
2
14
401
Rachit Agarwal retweeted
Sunrise brought Backpack’s stocks to @solana, now they're collateral on Kamino
Swap into SpaceX, Micron, SK Hynix or SanDisk, borrow USDC against them in the Backpack Market, curated by @AllezLabs
Onchain via @sunrise, issued by @BackpackOnchain
24/7 stock trading
Zero fees
Swap into SpaceX, Micron, SK Hynix or SanDisk, borrow USDC against them in the Backpack Market, curated by @AllezLabs
Onchain via @sunrise, issued by @BackpackOnchain
24/7 stock trading
Zero fees
28
12
44
1,576
Rachit Agarwal retweeted
the solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp thesis - by @knimkar, PM @anagramxyz
"I think collectibles are the RWA category, by far, more than tokenized equities in the near term. It's a thing that people want to trade, but existing market structure is very broken"
way, because Pokemon has a ton of attention. It's IP that is generational"
"What makes CARDS very different from every other crypto business is you have to get inventory. There's a real physical supply chain element to this"
"For all the allegations around money going in circles, the biggest users of CARDS actually care about collecting, and they will take receipt of these cards... I think that gives it some kind of sustainable advantage"
"I think collectibles are the RWA category, by far, more than tokenized equities in the near term. It's a thing that people want to trade, but existing market structure is very broken"
way, because Pokemon has a ton of attention. It's IP that is generational"
"What makes CARDS very different from every other crypto business is you have to get inventory. There's a real physical supply chain element to this"
"For all the allegations around money going in circles, the biggest users of CARDS actually care about collecting, and they will take receipt of these cards... I think that gives it some kind of sustainable advantage"
Building the Standard. x.com/i/article/2115…
1
3
11
226
Rachit Agarwal retweeted
i hold only one onchain coin that's prob the most reflexive beta i can think of
zero or 100x
zero or 100x
3
1
6
471
Rachit Agarwal retweeted
KG on Meta’s $35B raise, its separate $60B offering program and why companies may be raising cash while they still can
"METO officially enters the capital raising game through selling more of the stock. So they want to raise around 35 billion."
"They just literally upfront paid dollars in build out and you would think if there is someone who doesn't need more financing and are pretty good for a couple of years, maybe they're just doing it while they can do it."
"Maybe they're seeing that market is going to go down in the coming months and maybe right now the time is right to raise this cash. But yeah, I found this weird, but they also have a separate 60 billion offering program."
"Even the anthropic thing, who's buying this at 2 trillion? It's just so weird."
"It's definitely not something you want to see where the cost of raising money keeps going up and maybe they think it'll keep going up, it will not break down as people expect. So might as well just raise how much ever you can when you can."
"METO officially enters the capital raising game through selling more of the stock. So they want to raise around 35 billion."
"They just literally upfront paid dollars in build out and you would think if there is someone who doesn't need more financing and are pretty good for a couple of years, maybe they're just doing it while they can do it."
"Maybe they're seeing that market is going to go down in the coming months and maybe right now the time is right to raise this cash. But yeah, I found this weird, but they also have a separate 60 billion offering program."
"Even the anthropic thing, who's buying this at 2 trillion? It's just so weird."
"It's definitely not something you want to see where the cost of raising money keeps going up and maybe they think it'll keep going up, it will not break down as people expect. So might as well just raise how much ever you can when you can."
Black Monday Is Here - BTC Dump + Anthropic S-1 Breakdown x.com/i/broadcasts/1…
3
1
6
275
Rachit Agarwal retweeted
KG shares thoughts on Anthropic’s $80B loss, why the non-cash accounting nuance could get lost and why its IPO positioning could get weird
"This Rittenhouse research says that like anyone saying this without also explicitly noting that the entirety of that loss was driven by , non-recurring failed value adjustments as a clear agenda to push."
"It's not like they were trying to ramp up and scale and they had these commitments and stuff. It's not like this loss is going to keep happening."
"This IPO is going to be the most interesting one we've had so far. I mean, SpaceX was interesting. True. This is going to be even more filled with the positioning is going to be so weird."
"This Rittenhouse research says that like anyone saying this without also explicitly noting that the entirety of that loss was driven by , non-recurring failed value adjustments as a clear agenda to push."
"It's not like they were trying to ramp up and scale and they had these commitments and stuff. It's not like this loss is going to keep happening."
"This IPO is going to be the most interesting one we've had so far. I mean, SpaceX was interesting. True. This is going to be even more filled with the positioning is going to be so weird."
Black Monday Is Here - BTC Dump + Anthropic S-1 Breakdown x.com/i/broadcasts/1…
2
1
7
189
looking forward to speaking at @solana summit next week
my keynote is titled "Asia's Next Export: Capital Markets"
my keynote is titled "Asia's Next Export: Capital Markets"
15
6
73
1,595
Rachit Agarwal retweeted
the solana:CREDBHvVqREBCAxMihzr8D1nepHMr2gmQoZWpmgGmeta thesis - by @knimkar , PM @anagramxyz
“Credible is functionally a payment service provider that uses stablecoins to give the businesses it works with instant settlement”
“Normally there’s a gap between the customer paying ly getting the cash. Credible says, we’ll give you the cash immediately, we’ll handle the payments, and we’ll charge for that service”
“CoinFlow is maybe not a business many people have heard of, but it will be. My guess is CoinFlow becomes a billion-dollar business in the next 12 to 24 months. They’re absolutely crushing it”
“Credible is a very similar product, going after customers not in the US or EU but in Vietnam and Nigeria”
“Credible is functionally a payment service provider that uses stablecoins to give the businesses it works with instant settlement”
“Normally there’s a gap between the customer paying ly getting the cash. Credible says, we’ll give you the cash immediately, we’ll handle the payments, and we’ll charge for that service”
“CoinFlow is maybe not a business many people have heard of, but it will be. My guess is CoinFlow becomes a billion-dollar business in the next 12 to 24 months. They’re absolutely crushing it”
“Credible is a very similar product, going after customers not in the US or EU but in Vietnam and Nigeria”
New Episode w @knimkar, PM @anagramxyz
We discuss
- Managing a liquid book in current conditions
- Betting on MetaDAO ecosystem
- $SHFL and $CARDS thesis
1:50 How a Liquid Crypto Fund Builds Conviction
3:54 Why Liquid Funds Are Betting on MetaDAO
12:01 Should You Own es Built on It?
14:52 The Credible Thesis
16:57 Cash Flow Assets vs. Belief Assets
19:58 Why Buy and Hold Has Failed in Crypto
24:31 The Shuffle Thesis
32:45 Why Collectibles and Pokémon Could Be Crypto’s Best RWA Bet
38:35 Where Crypto Markets Go From Here
1
3
20
449
Rachit Agarwal retweeted
EmptyBrainTrader on alts price action and why he’s still long bitcoin
"These things all just operate against you and you just get f***ed, like you will literally long something and then it'll just round trip over and over and then you close and then it bounces. It's like the in the world."
"I just don't think this is the time for Bitcoin to break down. I think like and this is like low time frame I think people are way too aggressive so I'm long and I'm probably willing to close in the next like 24 hours because I see opportunity."
"I think the risks for equities is actually pretty big. I think the way SpaceX is like, they're not SpaceX, Anthropic is trying to push their shares into the market."
"It's like when you play poker and you have a really good hand and you know you're going to win and IPO at such high valuation, you're going to jam, right? So they're just jamming in my opinion."
"These things all just operate against you and you just get f***ed, like you will literally long something and then it'll just round trip over and over and then you close and then it bounces. It's like the in the world."
"I just don't think this is the time for Bitcoin to break down. I think like and this is like low time frame I think people are way too aggressive so I'm long and I'm probably willing to close in the next like 24 hours because I see opportunity."
"I think the risks for equities is actually pretty big. I think the way SpaceX is like, they're not SpaceX, Anthropic is trying to push their shares into the market."
"It's like when you play poker and you have a really good hand and you know you're going to win and IPO at such high valuation, you're going to jam, right? So they're just jamming in my opinion."
Black Monday Is Here - BTC Dump + Anthropic S-1 Breakdown x.com/i/broadcasts/1…
2
2
13
766
Rachit Agarwal retweeted
When CodecFlow started last year, robotics was barely on crypto’s radar.
The goal was to change that by bringing the whole robot development cycle into the crypto-native world, from the first test to the finished machine.
Talking to other builders and looking at the problem as usion kept coming up: building a robot is brutally hard, for three reasons.
I. Nowhere to test it.
Labs and hardware cost more than most ideas are worth, so the first thing we built was a way around them. SimArena lets anyone check whether a robot idea works in simulation before spending anything on equipment. This week, around 80 teams at the robo.innovate hackathon in Munich are using it for their challenges.
II. Nothing to train it on.
Robots learn from examples, and the examples they need either don’t exist yet or aren’t labelled in a way a robot can learn from. It’s one of the quietest bottlenecks in robotics and one of the hardest to fix, but there’s news on it coming soon.
III. No money or network to build it.
Once a robot works in simulation, getting it into production takes real capital, factory connections, a supply chain and customers waiting to buy it. This is where most robotics startups die. That’s why we teamed up with @machinedotfun and @peaq on a launchpad and accelerator built for exactly this stage.
Through partnerships and integrations with @solana, @Raydium, @sunrise and @peaq, the goal is to give machines something they’ve never had: capital markets of their own, where a robot is tradable from day one, and anyone who believes in it can take a position before the rest of the market catches on.
For the first time, the whole robotics lifecycle, in one place: design it → train it → build it.
We’re excited to open that door to anyone, anywhere, and help them take a machine from prototype to business.
@machinedotfun launches in the next 48H.
The goal was to change that by bringing the whole robot development cycle into the crypto-native world, from the first test to the finished machine.
Talking to other builders and looking at the problem as usion kept coming up: building a robot is brutally hard, for three reasons.
I. Nowhere to test it.
Labs and hardware cost more than most ideas are worth, so the first thing we built was a way around them. SimArena lets anyone check whether a robot idea works in simulation before spending anything on equipment. This week, around 80 teams at the robo.innovate hackathon in Munich are using it for their challenges.
II. Nothing to train it on.
Robots learn from examples, and the examples they need either don’t exist yet or aren’t labelled in a way a robot can learn from. It’s one of the quietest bottlenecks in robotics and one of the hardest to fix, but there’s news on it coming soon.
III. No money or network to build it.
Once a robot works in simulation, getting it into production takes real capital, factory connections, a supply chain and customers waiting to buy it. This is where most robotics startups die. That’s why we teamed up with @machinedotfun and @peaq on a launchpad and accelerator built for exactly this stage.
Through partnerships and integrations with @solana, @Raydium, @sunrise and @peaq, the goal is to give machines something they’ve never had: capital markets of their own, where a robot is tradable from day one, and anyone who believes in it can take a position before the rest of the market catches on.
For the first time, the whole robotics lifecycle, in one place: design it → train it → build it.
We’re excited to open that door to anyone, anywhere, and help them take a machine from prototype to business.
@machinedotfun launches in the next 48H.
8
18
89
4,280
Rachit Agarwal retweeted
the ethereum:0x8881562783028f5c1bcb985d2283d5e170d88888 thesis - by @knimkar, PM @anagramxyz
“Shuffle’s 2025 financials got out. Roughly $230 million top line and $70 million profit. That’s already more revenue than 99.99% of things in crypto with a token”
“Staking the token ts, and every Friday roughly 15% of that week’s net revenue goes into it. That worked out to something like a 25% dollar yield on your position last year”
“People say the token hasn’t moved much. The reality is that anyone who’s been staking it for any meaningful period has already printed”
“When @shufflecom makes $230 million, gives $40 million-plus to token holders and trades at a $130 million market cap, something feels off even on a super boring valuation basis”
“Shuffle’s 2025 financials got out. Roughly $230 million top line and $70 million profit. That’s already more revenue than 99.99% of things in crypto with a token”
“Staking the token ts, and every Friday roughly 15% of that week’s net revenue goes into it. That worked out to something like a 25% dollar yield on your position last year”
“People say the token hasn’t moved much. The reality is that anyone who’s been staking it for any meaningful period has already printed”
“When @shufflecom makes $230 million, gives $40 million-plus to token holders and trades at a $130 million market cap, something feels off even on a super boring valuation basis”
New Episode w @knimkar, PM @anagramxyz
We discuss
- Managing a liquid book in current conditions
- Betting on MetaDAO ecosystem
- $SHFL and $CARDS thesis
1:50 How a Liquid Crypto Fund Builds Conviction
3:54 Why Liquid Funds Are Betting on MetaDAO
12:01 Should You Own es Built on It?
14:52 The Credible Thesis
16:57 Cash Flow Assets vs. Belief Assets
19:58 Why Buy and Hold Has Failed in Crypto
24:31 The Shuffle Thesis
32:45 Why Collectibles and Pokémon Could Be Crypto’s Best RWA Bet
38:35 Where Crypto Markets Go From Here
1
2
17
583
If there's anyone that is interested in listing an asset on Solana, my DMs are open.
It doesn't matter if you're an L1/L2 gas token or a revenue coin on another blockchain.
Reach out. Solana can support your asset via Sunrise.
It doesn't matter if you're an L1/L2 gas token or a revenue coin on another blockchain.
Reach out. Solana can support your asset via Sunrise.
If there's anyone that is interested in migrating to Solana, my DMs are open.
It doesn't matter if you're a L1, L2, or app on a dying blockchain.
Reach out. Solana can support your app.
8
0
33
1,292
Rachit Agarwal retweeted
Kuleen says founders and VCs avoid onchain fundraising over crypto’s reputation, and how that can be changed
"Can I raise $2 million onchain and then, if the business does well, raise a $200 million growth round? Right now that doesn't happen"
"The reputation of crypto is t is deserved. As an industry, I don't think we've done a great job of being serious people"
"The sequencing is to curate high-quality teams over the next one to five years, and I'd lean to the shorter side. One of these has to become a blockbuster. That gets attention, and then the flip switches"
"It's like prediction markets four years ago. People ask who's actually going to do this. Once they see an example, it'll be crazy"
"Can I raise $2 million onchain and then, if the business does well, raise a $200 million growth round? Right now that doesn't happen"
"The reputation of crypto is t is deserved. As an industry, I don't think we've done a great job of being serious people"
"The sequencing is to curate high-quality teams over the next one to five years, and I'd lean to the shorter side. One of these has to become a blockbuster. That gets attention, and then the flip switches"
"It's like prediction markets four years ago. People ask who's actually going to do this. Once they see an example, it'll be crazy"
New Episode w @knimkar, PM @anagramxyz
We discuss
- Managing a liquid book in current conditions
- Betting on MetaDAO ecosystem
- $SHFL and $CARDS thesis
1:50 How a Liquid Crypto Fund Builds Conviction
3:54 Why Liquid Funds Are Betting on MetaDAO
12:01 Should You Own es Built on It?
14:52 The Credible Thesis
16:57 Cash Flow Assets vs. Belief Assets
19:58 Why Buy and Hold Has Failed in Crypto
24:31 The Shuffle Thesis
32:45 Why Collectibles and Pokémon Could Be Crypto’s Best RWA Bet
38:35 Where Crypto Markets Go From Here
1
2
8
496
Rachit Agarwal retweeted
Kuleen says most crypto tokens were never seriously investable, and ranks MetaDAO as the S-tier fix
"For a long time I was actually pretty depressed about the state of token markets, because none of these things seemed like seriously investable assets"
"To me there's a tier ure quality, and MetaDAO is the S tier"
"From an investor's perspective, it's by far the best way to structure a token and make it an investable asset without falling under securities law"
"There's a bit of career bias here. If running a liquid fund in crypto is going to be a thing, there has to be a way to create investable assets. I think it's existential for token capital markets that something like this works"
"For a long time I was actually pretty depressed about the state of token markets, because none of these things seemed like seriously investable assets"
"To me there's a tier ure quality, and MetaDAO is the S tier"
"From an investor's perspective, it's by far the best way to structure a token and make it an investable asset without falling under securities law"
"There's a bit of career bias here. If running a liquid fund in crypto is going to be a thing, there has to be a way to create investable assets. I think it's existential for token capital markets that something like this works"
New Episode w @knimkar, PM @anagramxyz
We discuss
- Managing a liquid book in current conditions
- Betting on MetaDAO ecosystem
- $SHFL and $CARDS thesis
1:50 How a Liquid Crypto Fund Builds Conviction
3:54 Why Liquid Funds Are Betting on MetaDAO
12:01 Should You Own es Built on It?
14:52 The Credible Thesis
16:57 Cash Flow Assets vs. Belief Assets
19:58 Why Buy and Hold Has Failed in Crypto
24:31 The Shuffle Thesis
32:45 Why Collectibles and Pokémon Could Be Crypto’s Best RWA Bet
38:35 Where Crypto Markets Go From Here
2
2
9
413
Black Monday Is Here - BTC Dump + Anthropic S-1 Breakdown x.com/i/broadcasts/1…
4
0
18
757
Rachit Agarwal retweeted
This was fun!
Forgive me bouncing around. Doing a podcast while in standing desk mode perhaps not the wisest decision
Forgive me bouncing around. Doing a podcast while in standing desk mode perhaps not the wisest decision
New Episode w @knimkar, PM @anagramxyz
We discuss
- Managing a liquid book in current conditions
- Betting on MetaDAO ecosystem
- $SHFL and $CARDS thesis
1:50 How a Liquid Crypto Fund Builds Conviction
3:54 Why Liquid Funds Are Betting on MetaDAO
12:01 Should You Own es Built on It?
14:52 The Credible Thesis
16:57 Cash Flow Assets vs. Belief Assets
19:58 Why Buy and Hold Has Failed in Crypto
24:31 The Shuffle Thesis
32:45 Why Collectibles and Pokémon Could Be Crypto’s Best RWA Bet
38:35 Where Crypto Markets Go From Here
2
1
23
1,174