Articles by Khal
Latest from Khal
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Hyperliquid bigger than NASDAQ, says ICE CEO Sprecher
Jeff Sprecher, CEO of Intercontinental Exchange, stated that Hyperliquid—a decentralized perpetual futures platform processing $9.5 billion in open interest—is bigger than NASDAQ and operates with just 11 people, highlighting the efficiency of on-chain trading infrastructure.
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Hyperliquid Exceeds Nasdaq in Size, ICE Chief Says
Jeffrey Sprecher, CEO of Intercontinental Exchange, acknowledged that Hyperliquid has grown larger than Nasdaq and praised its founders. ICE and CME are pushing regulators to oversee the decentralized exchange amid concerns about market integrity and price discovery in commodity markets.
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Huawei unveils chip tech to close TSMC gap, bypass US export controls
Huawei announced proprietary chip technologies aimed at achieving 1.4-nanometer transistor density by 2031, potentially shrinking a five-year technology gap with TSMC to three years and challenging the effectiveness of US semiconductor export restrictions.
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Bitcoin ETFs post $229M outflow on 9th consecutive day of redemptions
Spot Bitcoin ETFs recorded $229 million in net outflows on May 28, extending a streak of institutional redemptions that signals declining risk appetite and caution in crypto markets amid macroeconomic headwinds.
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Bitcoin retested $72,500 as $9B options expiry nears Friday
Bitcoin retested $72,500 on Thursday, triggering $342 million in liquidations. A $9 billion options expiry Friday favors bears, with $1.05 billion in put options above $74,000 versus just $306 million in in-the-money calls.
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BlackRock IBIT sees $177M Bitcoin outflows as institutions rebalance
BlackRock's iShares Bitcoin Trust recorded $177.95 million in client redemptions, requiring the custodian to move Bitcoin from Coinbase. The outflows reflect strategic rebalancing rather than a loss of confidence in the asset, though sustained redemptions could pressure prices.
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Nasdaq implied correlation hits record low, raising volatility risk
The Nasdaq's implied correlation has fallen to its lowest level in at least 23 years, suggesting individual stocks are diverging sharply. Traders are betting on continued dispersion, but history shows such extremes often precede sudden re-correlation events and volatility spikes.
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US credit card debt hits record $1.09 trillion at commercial banks
US commercial banks now hold $1.09 trillion in credit card debt, the highest level ever recorded, as household balances reach $1.25 trillion and interest rates remain above 21%, raising concerns about consumer defaults and spending.
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Samsung ships HBM4 memory samples, signs AMD deal as stock surges 6%
Samsung has begun mass production of HBM4 high-bandwidth memory chips and signed a strategic supply agreement with AMD for its Instinct MI455X GPU, delivering over 40% faster processing speeds and potentially easing AI infrastructure supply chain constraints.
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Aptos Integrated Into Vertalo Securities Protocol for Regulated Asset Management
Vertalo, an SEC-registered transfer agent, integrated Aptos into its Securities Protocol to enable regulated issuance and management of tokenized assets. The move reflects growing institutional adoption of Aptos for compliance-heavy workloads.
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NEAR Golden Cross vs DOGE Moving Average Breakdown
NEAR is testing support near its 50-day moving average after a May breakout rally, while DOGE has fallen below major moving averages following rejection near $0.11–$0.12, with both assets facing pressure in a volatile crypto market.
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Dell stock hits record high on AI earnings beat and $51.3B backlog
Dell shares surged 16.8% on May 22 after posting adjusted earnings 66% above consensus and revealing a record $51.3 billion AI server backlog, underscoring explosive demand for AI infrastructure amid supply chain headwinds.
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US-Iran agreement stabilizes gold and crypto markets
A tentative US-Iran agreement struck May 28 requires Iran to clear mines from the Strait of Hormuz within 30 days. Gold has stabilized near $4,700 per ounce and Bitcoin sentiment has steadied, though traders remain cautious about durability.
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Calamos Protected Bitcoin ETFs Attract Inflows Amid Spot ETF Redemptions
Calamos says its protected Bitcoin ETFs are attracting inflows as more than $1 billion exits spot Bitcoin ETFs, signaling a shift toward products with built-in downside protection.
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Bitcoin drops below $73K as distribution signals rise, liquidations hit $935M
Bitcoin dropped below $73,000 on Wednesday, triggering distribution signals and liquidations totaling $935 million, though weakening spot volumes and declining realized losses suggest easing sell pressure ahead.
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France's AMF sets June 30 deadline for crypto firms to secure MiCA licenses
France's financial regulator warned crypto firms operating without licenses have until June 30 to obtain permits or exit the country under the EU's Markets in Crypto Assets framework, while tensions mount over regulatory centralization.
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ProAct AI Agent Predicts User Questions During Downtime
Researchers at Shanghai Jiao Tong University and Tencent developed ProAct, an AI agent that uses idle time between conversations to predict and prepare answers to likely follow-up questions, reducing conversation turns by 14.8% in testing.
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FalconX files confidentially with SEC for IPO, hires investment banks
FalconX, an institutional crypto trading platform, filed confidentially with the SEC for an IPO on or around May 6, signaling a major shift toward mainstream financial markets for crypto infrastructure firms.
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Sui Network Suffers 5-Hour Outage, Fifth Major Incident Since Launch
The Sui blockchain experienced a network stall lasting more than five hours Thursday morning, marking the second significant downtime in five months and raising fresh questions about the layer-1's infrastructure stability.
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FalconX confidentially files S-1 with SEC, hires Cantor for IPO
Crypto trading firm FalconX has confidentially filed draft IPO paperwork with the SEC and hired Cantor and other bankers to advise on a public listing, though market volatility means the debut isn't expected until year-end.
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Alexandria: How Alexander's City Became the Ancient World's Intellectual Hub
Alexandria transformed into an ancient superpower through revolutionary urban design, strategic Mediterranean focus, and a scholarly synthesis of Greek, Egyptian, Babylonian, and Hebrew thought. Toby Wilkinson, Professor of Egyptology at Cambridge, explores the city's legacy in a Conversations with Tyler episode.
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Tether's USA₮ supply surges 540% as reserves climb above $141M
Tether's USA₮ redeemable supply jumped nearly 540% in April, reaching 140.9 million tokens with reserves climbing above $141 million, according to the stablecoin's latest attestation report.
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Tether's USAT stablecoin surges 540% in April, trails USDC and PYUSD
Tether's U.S.-focused USAT token jumped to $140.8 million in circulating supply during April, a sixfold monthly increase, though it remains far behind Circle's USDC and PayPal's PYUSD in the competitive stablecoin market.
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Iran Restores 18 Missile Sites After US-Israel Strikes
Iran has begun restoring access at 18 missile sites and rebuilding underground launchers following recent strikes by the US and Israel. Prediction markets reflect escalating regional tensions, with Iran Airspace Closure odds rising to 15.6% from 9%.