Policy Push: Hyperliquid's DC Center

February ends with peak FUD. Ryan and David unpack why crypto is stuck in historic “Extreme Fear” even without a major blowup, and why markets feel like they’ve entered an uncertainty bubble. They break down the Supreme Court striking Trump’s tariffs, Trump immediately finding new legal doors to bring them back, and the looming $150B+ refund fight. Then the “Citrini Crash”: AI doomer scenarios going viral, spooking stocks, and leaving investors terrified that AI will be either not good enough or far too good. Plus: fresh allegations that Jane Street helped accelerate Terra’s collapse, Meta’s stablecoin reboot for its billions of users, ZachXBT’s Axiom insider trading exposé, Hyperliquid’s new DC policy push, Robinhood’s retail venture fund, Coinbase’s 24/5 stocks rollout, and the Pentagon’s ultimatum to Anthropic over AI guardrails.

---

📣FIGURE | CRYPTO-BACKED LOANS & ~9% RWA YIELD

https://bankless.cc/FigureCBL

---

BANKLESS SPONSOR TOOLS:

🔮POLYMARKET | #1 PREDICTION MARKET

https://bankless.cc/polymarket-podcast 

🪐GALAXY | INSTITUTIONAL DIGITAL FINANCE

https://bankless.cc/galaxy-podcast 

⚡EUPHORIA | REAL-TIME ONE-TAP TRADING

https://bankless.cc/euphoria 

🏅BITGET TRADFI | TRADE GOLD WITH USDT

https://bankless.cc/bitget

🌐BRIX | EMERGING MARKET YIELD

https://bankless.cc/brix 

🎯THE DEFI REPORT | ONCHAIN INSIGHTS

https://bankless.cc/TDRpro   

---

TIMESTAMPS & RESOURCES

0:00 Intro

2:51 Extreme Fear & the “Uncertainty Bubble”

https://www.coingecko.com/en/coins/bitcoin

https://www.coingecko.com/en/coins/ethereum

https://alternative.me/crypto/fear-and-greed-index

https://x.com/xeer/status/2025867669707043156

https://x.com/Evan_ss6/status/2026363413610238032

https://thedefireport.io/research/uncertainty-bubble

https://x.com/kobeissiletter/status/2024862913761001477

https://x.com/KobeissiLetter/status/2026067372604371286

https://www.citriniresearch.com/p/2028gic

https://x.com/KobeissiLetter/status/2026040229535047769

https://x.com/KobeissiLetter/status/2026028854461047220

https://www.noahpinion.blog/p/the-citrini-post-is-just-a-scary

https://x.com/mattshumer_/status/2021256989876109403

https://x.com/intangiblecoins/status/2027011410627027024

26:24 Was Jane Street Behind the 2022 Crypto Winter?

https://www.wsj.com/finance/currencies/jane-street-accused-of-insider-trading-that-helped-collapse-terraform-659e6993

https://x.com/OGDfarmer/status/2026343910923006123

https://x.com/hasufl/status/2026246191550193756

https://x.com/davidzmorris/status/2026286018643603749

https://x.com/1914ad/status/2026757796390449382

35:29 Meta Revives Stablecoin Plans

https://www.coindesk.com/business/2026/02/24/mark-zuckerberg-s-meta-is-planning-stablecoin-comeback-in-the-second-half-of-this-year

39:49 ZachXBT Exposes Insider Trading at Axiom

https://x.com/zachxbt/status/2025917891678523644

https://polymarket.com/event/which-crypto-company-will-zachxbt-expose-for-insider-trading/?via=bankless?

https://x.com/zachxbt/status/2027016064534757659

https://x.com/zachxbt/status/2027016170126323925

50:40 Hyperliquid DC Policy Center, Robinhood VC, & Coinbase 24/5 stocks & ETFs trading

https://x.com/jchervinsky/status/2024116520427651480

https://x.com/vladtenev/status/2026028297822588941

https://x.com/coinbase/status/2026303315382870364

55:49 AI Watch: Pentagon vs Anthropic

https://x.com/DeItaone/status/2027028927756054670

https://x.com/VitalikButerin/status/2026382701562048545

https://x.com/VitalikButerin/status/2026329054887239697

1:02:33 Closing & Disclaimers

---

Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures