HORYONCrypto Market Intelligence
Robinhood Chain processed ~200M transactions in its first month, with TVL at ~$650M, stablecoin supply at ~$520M, and 2.4M monthly active users.
Uniswap introduced "Launches," a new tab in its web app aggregating top token launches from builders like Bankr, Pons, and Long.
Securitize and BlackRock launched BUIDL, a $2.6B tokenized Treasury fund, on Tempo, marking Securitize’s first Tempo integration and BUIDL’s 10th chain.
Stablecoin card issuer Kulipa abruptly closed four months after a $6.2M seed round led by 1kx and Flourish Ventures, rendering cards from Ready and Solflare unusable. User funds remain safe due to self-custody.
ENS revised its Foundation proposal to keep the DAO’s operational wallet and holdings under tokenholder control, granting only a one-time 1M ENS grant to the Foundation.
Aviva Investors launched a tokenized share class of its US Dollar Liquidity Fund on XRP Ledger after Central Bank of Ireland approval.
Index Coop's ExchangeIssuance contract lost ~$9.6K after a malicious manager hook inflated positionMultiplier, draining assets via TOCTOU in `BasicIssuanceModule.issue`.
Crypto exchanges are consolidating as smaller platforms struggle with declining volumes, with the six largest venues now accounting for over 60% of trading volume.
Frax Finance co-founder Sam Kazemian outlines Frax's 2026 bull thesis, focusing on regulatory integration (Nevada, OCC), partnerships (OUSD alliance, Visa BIN), and a vision for a trillion-dollar stablecoin market dominated by a few players, with Fraxnet as a programmable payment and clearing network.
The episode analyzes the global robotics landscape, focusing on China's hardware manufacturing lead and software gaps. It highlights Robbie Ant's open-source robot foundation models using video model backbones, and argues against a binary US vs China winner, comparing robotics to EVs/phones where great products exist but investor returns may be capped.
Franklin Templeton's Chris Galipo argues markets (including crypto) are in the 'second inning' of a bull cycle, with strong earnings and AI adoption driving growth. The episode contrasts Meta's post-earnings drop with Microsoft's resilience, and explores prediction markets as macro tools amid shifting S&P 500 leadership away from the MAG7.
The episode covers a live breakdown of crypto market dynamics, including the Leopold Situational Awareness fund blowup, Zcash's Ironwood upgrade to fix an AI-discovered vulnerability, Coinbase's earnings miss, and macro trends like AI-driven liquidity shifts, Bitcoin's decoupling potential, and the rise of tokenized assets. It also dives into media struggles, Hyperliquid's growth, and institutional adoption signals.
Leopold Aschenbrenner's AI-focused fund Situational Awareness LP suffered 30-50% monthly losses despite strong YTD performance, amid rumors of liquidating major stakes. The episode also covers AI safety debates, NVIDIA's compute scaling with SSI, and GPU/memory supply dynamics.
Andrew Kang discusses his shift from crypto (Mechanism Capital) to robotics, launching Robo Strategy (NASDAQ: BOT) to capitalize on the emerging humanoid robotics industry, which he compares to early AI or crypto. He predicts robotics could reach tens of billions in revenue within 2-4 years, with Figure as a standout bet, and analyzes supply chain, valuation arbitrage, and founder diligence in the space.
The episode analyzes a massive AI trade unwind triggered by leverage and margin calls, alongside the Fed's strategic shift toward influencing long-end yields via balance sheet reduction. It explores the interplay between macro liquidity, semiconductor volatility, and the potential for a steepening yield curve.
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