NOVEMBER IS TWO DAYS OLD AND CRYPTO HAS ALREADY BEEN HACKED THREE TIMES. 😭 The biggest so far: Brazil’s largest crypto exchange, Mercado Bitcoin, reportedly lost more than $40 million and has suspended deposits and withdrawals. Hackers really said no days off. https://t.co/asL8MGlLuN
FOR THOSE WHO DON’T UNDERSTAND WHY STAN DRUCKENMILLER TALKING ABOUT HYPERLIQUID IS A BIG DEAL, HERE’S WHY. This isn’t just another billionaire talking about crypto. Druckenmiller ran money for George Soros at the Quantum Fund and helped execute the legendary 1992 trade against the British pound that made over $1 billion and became known as the trade that “broke the Bank of England.” Fast-forward to today. Stan had never made an original post on X before. His first one? His investment in Trade[XYZ] and its move to bring perpetual futures built around Hyperliquid to the U.S. Then Elon Musk showed up underneath it with one word: “Interesting.” $HYPE immediately became one of the biggest stories on Crypto Twitter. When someone with Druckenmiller’s history breaks years of silence to talk about a Hyperliquid-linked investment, and Elon Musk notices... Pay attention to who just entered the room. Full documentary coming.
STAN DRUCKENMILLER POSTED ABOUT HYPERLIQUID ONCE AND THE ENTIRE $HYPE COMMUNITY ENTERED A NEW LEVEL OF DELUSIONAL BULLISHNESS. Then Elon Musk replied “Interesting.” The aura is ridiculous. https://t.co/yu7BXt6QBq
UPTOBER HAS COMPLETELY FAILED. NOW NOVEMBER GETS INTERESTING. Bitcoin is currently down -4.33% in October, worse than last October’s -3.95%. If it closes here, this would be the first back to back red Octobers in the history shown on this chart. The mood has completely flipped too. People who were bullish weeks ago are now calling for much lower prices, and some are questioning Bitcoin altogether. But here’s the interesting part: November has historically been one of Bitcoin’s strongest months. So what happens next? Does all this bearishness mark the beginning of something much worse… or are we watching everyone give up right before Bitcoin finally turns?
The All-In boys are turning bearish on Bitcoin while getting excited about things like $TAO and privacy coins. Jason says $BTC could revisit $57K. Chamath thinks it eventually gets hacked and goes to zero. Fair enough. But if Bitcoin actually goes to zero, who exactly is sending Bittensor to $5,000? Crypto has spent every cycle waiting for Bitcoin to create the liquidity before altcoins go completely insane. You can’t kill the engine and still expect the passengers to reach the moon.
Jack Dorsey is quietly having one of the craziest weeks in tech. Weeks after India tried to block Bitchat, the offline messaging app is now the #1 social networking app in France as protests continue. No internet. No SIM card. Just encrypted Bluetooth communication between nearby phones. And at the exact same time, Dorsey’s Block just unveiled Dessa, an AI that learned to talk from human speech alone and can listen, interrupt, laugh and respond in real time. One project is rethinking how humans talk to each other. The other is rethinking how humans talk to AI. Jack Dorsey might be building something much bigger than it looks.
Remember when Zcash was getting all the attention and I said Monero would be the bigger play? At the time, $XMR around $500 already looked expensive to a lot of people. Today, Monero is trading around $620, and the call is starting to play out. My thesis was simple: privacy isn’t going away, and Monero remains one of the strongest pure privacy plays in crypto. And the timing matters. We’ve just seen critical PHP vulnerabilities trigger millions of exploitation attempts, while the recent Railway breach was linked by blockchain investigator Taylor Monahan to roughly $371,000 in crypto theft across 19 chains. As cybercrime keeps getting more sophisticated, the market is being reminded why truly private settlement still has value, including for legitimate users who simply do not want every transaction permanently exposed. I said it would happen slowly, then suddenly. $1,000 $XMR doesn’t sound nearly as crazy anymore.
