Can Hyperliquid Become the Everything Exchange? | Roundup

**Mike** (0:00)
So, The Everything Exchange, everyone is going after this idea, and it's a very crowded, very well-hunted space with many competent teams that are pursuing this vision. And it's just crowded. I think the Hyperliquid team is incredible, but the competition is extremely fierce. This episode is sponsored by Canton, the only public permissionless blockchain built for institutional finance. We'll hear more from Canton later in the episode. Blockworks Digital Asset Summit is back in New York, March 24th through 26th. We'll have top speakers from leading asset managers, financial institutions, DeFi protocols, crypto companies and policy makers all under one roof. Think BlackRock, Coinbase, Robinhood and more. Follow the link in today's show notes to buy tickets and make sure to use code Bell200 for $200 off at checkout. See you there. Hey everyone, quick disclaimer before we get into today's episode. Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and the views expressed by anyone on the show are solely our opinions, not financial advice. Our guests and I may hold positions in the company's funds or projects discussed.
Hey guys, welcome back to another episode of Bell Curve. Got Myles Avin me. That was how we're doing. Doing great.

**Myles** (1:17)
One week countdown.

**Mike** (1:19)
One week countdown, baby, to the most institutional conference ever. We actually do have, I will say, we got a, this was an interesting first for us. We got our first, I guess, two bank CEOs. And I can tell you, these are, they're not really sales cycles in the sense that we're not selling anything, but sometimes these conversations, you know, they take a very, very long time. And for the first time ever, we have banks being like, I know DAS, I would like our CEO to speak at DAS, which is...

**Myles** (1:48)
It's been fantastic.

**Mike** (1:49)
Pretty cool.

**Xavier** (1:50)
Pretty cool. I can plug in something as well that might make you happy, Mike. So one of my... Please do. Please do, Zach. A guy I know from my hometown in traditional finance actually reached out saying to me, oh, he's going to Digital Asset Summit, and, you know, will I be there? And, you know, it's the first time that his TradFi firm in South Australia is like, you know, branching out into digital assets and all the way to New York, just to the conference. So, you're making a splash worldwide, mate.

**Mike** (2:19)
Wow, wow. Well, we love to see that. Thank you, Zane. That actually brought a big smile to my face. And actually some alpha, I guess, for Bell Curve listeners, which is if you are a procrastinator like me and you're sitting there waiting, looking at tickets, we got a massive, so we got a sailor up there this week. We got the CEO of BNY Mellon. We max out, like there's a fire marshal code and we are now knocking at the door. So, actually, we're absolutely going to max out on the space. So, if you're listening now, we're going to start doing basically price hikes until, but probably you probably have until like Monday, Tuesday to buy, and then it's going to max out. So, good news. You know what? Though it really is, it's crazy because, and I've talked to some, honestly been getting back to Bell Curve Roots and talking to a bunch of the infrastructure, kind of like staking providers, call it like the L2 framework, supporting infrastructure, helping enterprises build on chain. And it is really, it continues to be, there's the most dispersion in the space that I've ever seen. We're absolutely in a bear market, but not if you're in prediction markets, stable coins, and actually even like some of the pretty old school infrastructure guys are seeing a lot of traction on kind of the banking and financial services side of things. But all their traditional, the traditional business is really, really struggling in many cases. But yeah, it's a really interesting time. And when we kicked off DAS last year, I said, I've never seen it so diverged, but it's gotten far wider even in the last year. And it's gone to the point where I kind of think that in good and bad ways, like that old, I was talking to one of our investors this week, and it's like, you know, that old like when Lambeau, I think that that culture is just, I think it's dying in crypto. And I think 80% of these coins are just gone down and they're never gonna get back up. And, you know, I was just tweeting before we got on here, saw Larry Fink talking about tokenizing every asset. And I fully agree that that's gonna happen. But that also doesn't mean a single coin has to go up because of it.