Had a blast digging in with the team on our latest August Market Matters episode. In this clip we break down where I’m seeing relative strength in alts, with treasury-backed names like $ETH, $XRP and $BNB leading the pack. We also get into $SOL post-ETF weakness and most importantly how I’m thinking about timing the rotation and when to derisk. Full convo with the crew @3xliquidated / @0xLTR / @Kevin_Kelly_II over at @Delphi_Digital

New episode with @Delphi_Digital’s Hivemind! 🔥 We discuss: - Why you shouldn’t sleep on Ethena - Galaxy’s AI bet that could 5x from here - Hyperliquid’s upside & regulatory risk - Potential PUMP comeback & more! @ZeMariaMacedo @YanLiberman @FloodCapital @3xLiquidated Links below 👇

banger new *free* report from our markets team in collaboration with @Second_Lane on the evolution of secondary markets

If you read one thing this week, would suggest the below AI report: "From Data Foundries to World Models" It interweaves data foundries, context engineering, RL environments, world models & more into an approachable, yet comprehensive essay on the current edge of AI.👇(0/12)

This is only going to get better. Confirmed: we are living in a simulation.

my man @0x_Arcana wrote the deep dive on this a few weeks ago 20 people can read this report for free with this link:

Almanak is chatGPT for on-chain strategies and one of the coolest crypto AI primitives out there This stablecoin yield vault is currently the only way to get exposure to the project, earning ~10% + ~43% from points Disclaimer: Delphi Labs is an investor in Almanak

ath august

Are Private AMMs taking over Solana? Over 40% of all trading volume on Jupiter today is routed through prop AMMs like SolFi, ZeroFi, and Obric. Despite being completely closed source they’ve managed to capture nearly half of the volume within the last 6 months. But what exactly is a “prop AMM”? The concept of a proprietary AMM might seem like a contradiction. AMMs by design are open, deterministic systems. Their role is to offer clear pricing curves and trustless access to liquidity. The structure of a prop AMM is akin to that of an active market maker. They: ▫️Quote prices privately ▫️Don’t operate frontends ▫️Rely on vault-based liquidity ▫️Execute only through aggregators We can basically refer to them as on-chain market makers. The goal is to close the spread and offer tighter quotes. And while the rise of prop AMMs are consolidating liquidity towards a handful of venues; the market structure as a whole is becoming more efficient. Market makers are noticing this trend, and traders don’t care who’s routing their trades – they care about better quotes and fills. Solana is the early proof of this, and the broader market will increasingly stratify into aggregator-driven execution environments dominated by a small set of backend prop AMMs. We could see a bifurcated market structure - on one end sophisticated venues dominating volume on Jupiter, and on the other, V2 style pools like Raydium capturing the tail-end of assets.

AI Powered Browsers are fascinating not just from an investor’s perspective but as a consumer too Think this report is worth everyone checking out. It’s free to read on the Intelligence site, but if you want a PDF of it for the road - DM me