Unchained Uneasy Money: Hyperliquid's Dilemma After 10/10: Protect Itself or Its Users? - Ep. 954
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Nov 21, 2025 Hosts delve into the current ICO landscape, comparing it with the 2017 boom. They share tales of past struggles, including Kain's experience raising 30,000 ETH. The discussion shifts to Hyperliquid's challenges following market turmoil, weighing the balance between protecting the protocol and its traders. Emotional stories highlight the human impact of mass liquidations. Insights into investment strategies, founder mindsets, and the mechanics of modern token sales also make for an engaging conversation around crypto's evolving narrative.
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Surviving A Post-ICO Cash Crunch
- Kain raised 30,000 ETH at the 2017 top and watched its USD value crater as ETH fell.
- He narrowly avoided running out of runway by cutting costs and doubling down to ship the project.
Put It All On The Line Early
- In crypto, commit to aggressive execution rather than long runway conservatism.
- Short runways force focus and can be the difference between relevance and irrelevance.
Exchange Design Forces A Tough Trade-Off
- Perp exchanges face a trade-off: protect the protocol or protect traders from unfair liquidations.
- Hyperliquid explicitly prioritizes protocol resilience even if some traders lose out.