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On June 21, Ethereum co-founder Joseph Lubin stated that Vitalik Buterin is an extremely effective communicator and one of the most important contributors and guardians of the Ethereum ecosystem. Those who believe that Vitalik writing a novel is not the most effective way to promote the development and adoption of Ethereum are missing the point. Imagine if Vitalik were to write a milestone cyberpunk classic: a story about one or more characters navigating a dark cyberpunk dystopia in a constructive manner, showcasing the value of Ethereum and CROPS technology to the world. Wouldn't that be cool? It would be akin to works like Cory Doctorow's 'Little Brother' series or 'A Young Lady's Illustrated Primer.' Such a work could potentially serve as a catalyst for transformative development.

[Ethereum Co-Founder: A Cyberpunk Classic by Vitalik Could Catalyze Ethereum's Evolution]On June 21, Ethereum co-founder Joseph Lubin stated that Vitalik Buterin is an extremely effective communicator and one of the most important contributors and guardians of the Ethereum ecosystem. Those who believe that Vitalik writing a novel is not the most effective way to promote the development and adoption of Ethereum are missing the point. Imagine if Vitalik were to write a milestone cyberpunk classic: a story about one or more characters navigating a dark cyberpunk dystopia in a constructive manner, showcasing the value of Ethereum and CROPS technology to the world. Wouldn't that be cool? It would be akin to works like Cory Doctorow's 'Little Brother' series or 'A Young Lady's Illustrated Primer.' Such a work could potentially serve as a catalyst for transformative development.

Ethereum Co-Founder: A Cyberpunk Classic by Vitalik Could Catalyze Ethereum's Evolution

On June 21, Ethereum co-founder Joseph Lubin stated that Vitalik Buterin is an extremely effective communicator and one of the most important contributors and guardians of the Ethereum ecosystem. Those who believe that Vitalik writing a novel is not the most effective way to promote the development and adoption of Ethereum are missing the point. 
Imagine if Vitalik wrote a landmark cyberpunk classic: telling the story of one or more characters navigating a dark cyberpunk dystopia in a constructive manner, showcasing the value of Ethereum and CROPS technology to the world—wouldn't that be cool? 
This could be akin to works like Cory Doctorow's 'Little Brother' series or 'A Young Lady's Illustrated Primer.' Such a work could potentially become a catalyst for transformative development.

[Ethereum Co-Founder: A Cyberpunk Classic by Vitalik Could Catalyze Ethereum's Evolution]On June 21, Ethereum co-founder Joseph Lubin stated that Vitalik Buterin is an extremely effective communicator and one of the most important contributors and guardians of the Ethereum ecosystem. Those who believe that Vitalik writing a novel is not the most effective way to promote the development and adoption of Ethereum are missing the point. 
Imagine if Vitalik wrote a landmark cyberpunk classic: telling the story of one or more characters navigating a dark cyberpunk dystopia in a constructive manner, showcasing the value of Ethereum and CROPS technology to the world—wouldn't that be cool? 
This could be akin to works like Cory Doctorow's 'Little Brother' series or 'A Young Lady's Illustrated Primer.' Such a work could potentially become a catalyst for transformative development.

According to data released by Hyperliquid ecosystem analyst il.hl, Hyperliquid's revenue per capita has reached approximately $56.42 million, significantly higher than traditional financial and cryptocurrency trading platforms. The comparative data shows: 
1. Hyperliquid: approximately $790 million in revenue, approximately $20.6 billion valuation, 14 employees, nearly 100% profit margin; 
2. Robinhood: approximately $4.47 billion in revenue, approximately $97.2 billion valuation, about 2,400 employees, approximately 42% profit margin; 
3. CME Group: approximately $6.52 billion in revenue, approximately $88.5 billion valuation, about 3,800 employees, approximately 62% profit margin; 
4. Nasdaq: approximately $8.26 billion in revenue, approximately $46.5 billion valuation, about 9,200 employees, approximately 22% profit margin. 
The analysis indicates that Hyperliquid achieves extremely high efficiency under the 'protocol-level infrastructure' model: revenue is almost equivalent to net profit, and operational costs are at a very low level, reflecting a structural characteristic where 'revenue does not grow linearly with personnel.' However, the current advantage is based on a stage where regulatory and compliance costs have not yet fully manifested; if compliance pressures increase in the future, profit margins may converge.

[Analyst: Hyperliquid's Revenue Per Capita Approximately $56.42 Million, Far Exceeding Traditional Trading Platforms like CME]According to data released by Hyperliquid ecosystem analyst il.hl, Hyperliquid's revenue per capita has reached approximately $56.42 million, significantly higher than traditional financial and cryptocurrency trading platforms. The comparative data shows: 
1. Hyperliquid: approximately $790 million in revenue, approximately $20.6 billion valuation, 14 employees, nearly 100% profit margin; 
2. Robinhood: approximately $4.47 billion in revenue, approximately $97.2 billion valuation, about 2,400 employees, approximately 42% profit margin; 
3. CME Group: approximately $6.52 billion in revenue, approximately $88.5 billion valuation, about 3,800 employees, approximately 62% profit margin; 
4. Nasdaq: approximately $8.26 billion in revenue, approximately $46.5 billion valuation, about 9,200 employees, approximately 22% profit margin. 
The analysis indicates that Hyperliquid achieves extremely high efficiency under the 'protocol-level infrastructure' model: revenue is almost equivalent to net profit, and operational costs are at a very low level, reflecting a structural characteristic where 'revenue does not grow linearly with personnel.' However, the current advantage is based on a stage where regulatory and compliance costs have not yet fully manifested; if compliance pressures increase in the future, profit margins may converge.

Analyst: Hyperliquid's Revenue Per Capita Approximately $56.42 Million, Far Exceeding Traditional Trading Platforms like CME

According to data comparisons released by Hyperliquid ecosystem analyst il.hl, Hyperliquid's revenue per employee has reached approximately $56.42 million, significantly higher than traditional financial and cryptocurrency trading platforms. The comparative data shows: 
1. Hyperliquid: Approximately $790 million in revenue, approximately $20.6 billion valuation, 14 employees, nearly 100% profit margin; 
2. Robinhood: Approximately $4.47 billion in revenue, approximately $97.2 billion valuation, about 2,400 employees, approximately 42% profit margin; 
3. CME Group: Approximately $6.52 billion in revenue, approximately $88.5 billion valuation, about 3,800 employees, approximately 62% profit margin; 
4. Nasdaq: Approximately $8.26 billion in revenue, approximately $46.5 billion valuation, about 9,200 employees, approximately 22% profit margin. 
The analysis indicates that Hyperliquid achieves extremely high efficiency under the 'protocol-level infrastructure' model: revenue is almost equivalent to net profit, and operational costs are at a very low level, reflecting a structural characteristic where 'revenue does not grow linearly with personnel.' However, the current advantage is based on a stage where regulatory and compliance costs have not yet fully materialized; if compliance pressures increase in the future, profit margins may converge.

[Analyst: Hyperliquid's Revenue Per Employee Approximately $56.42 Million, Far Exceeding Traditional Trading Platforms like CME]According to data comparisons released by Hyperliquid ecosystem analyst il.hl, Hyperliquid's revenue per employee has reached approximately $56.42 million, significantly higher than traditional financial and cryptocurrency trading platforms. The comparative data shows: 
1. Hyperliquid: Approximately $790 million in revenue, approximately $20.6 billion valuation, 14 employees, nearly 100% profit margin; 
2. Robinhood: Approximately $4.47 billion in revenue, approximately $97.2 billion valuation, about 2,400 employees, approximately 42% profit margin; 
3. CME Group: Approximately $6.52 billion in revenue, approximately $88.5 billion valuation, about 3,800 employees, approximately 62% profit margin; 
4. Nasdaq: Approximately $8.26 billion in revenue, approximately $46.5 billion valuation, about 9,200 employees, approximately 22% profit margin. 
The analysis indicates that Hyperliquid achieves extremely high efficiency under the 'protocol-level infrastructure' model: revenue is almost equivalent to net profit, and operational costs are at a very low level, reflecting a structural characteristic where 'revenue does not grow linearly with personnel.' However, the current advantage is based on a stage where regulatory and compliance costs have not yet fully materialized; if compliance pressures increase in the future, profit margins may converge.

Analyst: Hyperliquid's Revenue Per Employee Approximately $56.42 Million, Far Exceeding Traditional Trading Platforms like CME

In response to Ethereum core developer Trent Van Epps' lengthy article pointing out that Ethereum is entering a critical institutional turning point, including legitimacy distribution, governance structure evolution, and potential protocol funding crises, Tom Lee, chairman of the Ethereum treasury company Bitmine, stated that the probability of such a crisis occurring is zero, adding that "Funding secured." Data shows that Bitmine has been increasing its Ethereum holdings weekly, with the total amount now exceeding 5.62 million coins.

[Tom Lee Responds to Ethereum's Potential Funding Crisis: Zero Probability]In response to Ethereum core developer Trent Van Epps' lengthy article pointing out that Ethereum is entering a critical institutional turning point, including legitimacy distribution, governance structure evolution, and potential protocol funding crises, Tom Lee, chairman of the Ethereum treasury company Bitmine, stated that the probability of such a crisis occurring is zero, adding that "Funding secured." Data shows that Bitmine has been increasing its Ethereum holdings weekly, with the total amount now exceeding 5.62 million coins.

Tom Lee Responds to Ethereum's Potential Funding Crisis: Zero Probability

In response to Ethereum core developer Trent Van Epps' lengthy article highlighting that Ethereum is entering a critical institutional turning point, including legitimacy allocation, governance structure evolution, and a potential funding crisis for the protocol, Tom Lee, chairman of the Ethereum treasury company Bitmine, stated that the likelihood of such a crisis occurring is zero, adding that "Funding secured." Data shows that Bitmine has been increasing its holdings of Ethereum weekly, with a total holding now exceeding 5.62 million ETH.

[Tom Lee Responds to Ethereum's Potential Funding Crisis: Zero Probability]In response to Ethereum core developer Trent Van Epps' lengthy article highlighting that Ethereum is entering a critical institutional turning point, including legitimacy allocation, governance structure evolution, and a potential funding crisis for the protocol, Tom Lee, chairman of the Ethereum treasury company Bitmine, stated that the likelihood of such a crisis occurring is zero, adding that "Funding secured." Data shows that Bitmine has been increasing its holdings of Ethereum weekly, with a total holding now exceeding 5.62 million ETH.

On June 20, Goldman Sachs downgraded its global smartphone shipment forecasts for 2026 and 2027, citing the sustained rise in storage chip prices and its negative impact on market demand. The firm expects the product mix to continue shifting towards high-end models. Goldman Sachs reduced its forecasts for global smartphone shipments in 2026 and 2027 by 4% and 3%, respectively, to 1.14 billion and 1.17 billion units, indicating a 10% decline in shipments this year, with a 3% recovery expected in 2027. Additionally, Goldman Sachs has provided its first forecast for 2028, predicting shipments of 1.18 billion units, representing a 1% year-on-year growth. The firm anticipates that the market size will grow by 3% to $596 billion in 2026, with further increases of 2% in 2027 and 2028, reaching $606 billion and $621 billion, respectively. Goldman Sachs noted that rising memory costs and the increasing share of high-end models priced over $600 will support overall market revenue growth despite the decline in shipments.

[Goldman Sachs Lowers Global Smartphone Shipment Forecast for 2026 and 2027 Due to High Storage Chip Prices Impacting Demand]On June 20, Goldman Sachs downgraded its global smartphone shipment forecasts for 2026 and 2027, citing the sustained rise in storage chip prices and its negative impact on market demand. The firm expects the product mix to continue shifting towards high-end models. Goldman Sachs reduced its forecasts for global smartphone shipments in 2026 and 2027 by 4% and 3%, respectively, to 1.14 billion and 1.17 billion units, indicating a 10% decline in shipments this year, with a 3% recovery expected in 2027. Additionally, Goldman Sachs has provided its first forecast for 2028, predicting shipments of 1.18 billion units, representing a 1% year-on-year growth. The firm anticipates that the market size will grow by 3% to $596 billion in 2026, with further increases of 2% in 2027 and 2028, reaching $606 billion and $621 billion, respectively. Goldman Sachs noted that rising memory costs and the increasing share of high-end models priced over $600 will support overall market revenue growth despite the decline in shipments.

Goldman Sachs Lowers Global Smartphone Shipment Forecast for 2026 and 2027 Due to High Storage Chip Prices Impacting Demand

On June 20, Goldman Sachs revised its global smartphone shipment forecasts for 2026 and 2027, citing the continued rise in memory chip prices as a drag on market demand. The bank expects the product mix to continue shifting towards high-end models. Goldman Sachs lowered its forecasts for global smartphone shipments in 2026 and 2027 by 4% and 3%, respectively, to 1.14 billion and 1.17 billion units, indicating a 10% decline in shipments this year, with a 3% recovery expected in 2027. Additionally, Goldman Sachs introduced its first shipment forecast for 2028 at 1.18 billion units, representing a 1% year-on-year increase. The bank predicts that the market size will grow by 3% to $596 billion in 2026, with further increases of 2% in 2027 and 2028, reaching $606 billion and $621 billion, respectively. It noted that rising memory costs and the increasing share of high-end models priced over $600 will support overall market revenue growth despite the decline in shipments.

[Goldman Sachs Lowers Global Smartphone Shipment Forecast for 2026 and 2027 Due to High Memory Chip Prices Impacting Demand]On June 20, Goldman Sachs revised its global smartphone shipment forecasts for 2026 and 2027, citing the continued rise in memory chip prices as a drag on market demand. The bank expects the product mix to continue shifting towards high-end models. Goldman Sachs lowered its forecasts for global smartphone shipments in 2026 and 2027 by 4% and 3%, respectively, to 1.14 billion and 1.17 billion units, indicating a 10% decline in shipments this year, with a 3% recovery expected in 2027. Additionally, Goldman Sachs introduced its first shipment forecast for 2028 at 1.18 billion units, representing a 1% year-on-year increase. The bank predicts that the market size will grow by 3% to $596 billion in 2026, with further increases of 2% in 2027 and 2028, reaching $606 billion and $621 billion, respectively. It noted that rising memory costs and the increasing share of high-end models priced over $600 will support overall market revenue growth despite the decline in shipments.

Goldman Sachs Lowers Global Smartphone Shipment Forecast for 2026 and 2027 Due to High Memory Chip Prices Impacting Demand

The 'White-haired Stock God' Serenity has released a personal investment observation, analyzing the valuation and shareholding structure of several technology and semiconductor-related companies, with a focus on net asset value (NAV) discounts and growth momentum. Key points include: 1. Wistron is considered one of the most promising targets, with a current market capitalization of approximately $16.2 billion, Q1 revenue growth of 144% year-on-year, and a 35.46% stake in WiWynn, whose implied shareholding value is about 0.66 times its market cap; 2. Wiwynn is expected to continue its growth, becoming one of the core assets under observation; 3. Priortech holds about 21% of Camtek, with a shareholding value approximately 1.35 times its own market cap, viewed as a controlling structure; 4. GlobalWafers is noted to have a significant NAV discount (approximately $3.5 billion market cap vs. $7.9 billion shareholding value); 5. Related South Korean companies Iljin Holdings and Simmtech Holdings also show clear NAV discounts, but Serenity expresses caution regarding corporate governance and valuation realization capabilities in South Korea. Serenity indicates that it is still in the research phase and has not reached a final investment conclusion, but leans towards increasing the concentration of relevant holdings on Monday, emphasizing that some of these companies possess independent growth capabilities and potential for NAV revaluation.

[Serenity Identifies Opportunities in Asian Tech Stocks and NAV Discounts, Focusing on Wistron and Others]The 'White-haired Stock God' Serenity has released a personal investment observation, analyzing the valuation and shareholding structure of several technology and semiconductor-related companies, with a focus on net asset value (NAV) discounts and growth momentum. Key points include: 1. Wistron is considered one of the most promising targets, with a current market capitalization of approximately $16.2 billion, Q1 revenue growth of 144% year-on-year, and a 35.46% stake in WiWynn, whose implied shareholding value is about 0.66 times its market cap; 2. Wiwynn is expected to continue its growth, becoming one of the core assets under observation; 3. Priortech holds about 21% of Camtek, with a shareholding value approximately 1.35 times its own market cap, viewed as a controlling structure; 4. GlobalWafers is noted to have a significant NAV discount (approximately $3.5 billion market cap vs. $7.9 billion shareholding value); 5. Related South Korean companies Iljin Holdings and Simmtech Holdings also show clear NAV discounts, but Serenity expresses caution regarding corporate governance and valuation realization capabilities in South Korea. Serenity indicates that it is still in the research phase and has not reached a final investment conclusion, but leans towards increasing the concentration of relevant holdings on Monday, emphasizing that some of these companies possess independent growth capabilities and potential for NAV revaluation.

Serenity Identifies Opportunities in Asian Tech Stocks and NAV Discounts, Focusing on Wistron and Others

On June 19, President Trump stated: The U.S. did not pay Iran $300 billion. This is fake news! The U.S. only has success, low oil prices, and victories. Look at the stock market. The Democrats' propaganda is at play!

[Trump: The U.S. Did Not Pay Iran $300 Billion]On June 19, President Trump stated: The U.S. did not pay Iran $300 billion. This is fake news! The U.S. only has success, low oil prices, and victories. Look at the stock market. The Democrats' propaganda is at play!

Trump: The U.S. Did Not Pay Iran $300 Billion

Ripple Launches XRPL AI Starter Kit For XRP And RLUSD Agent Payments

China's Export Controls to Japan Create Bottleneck; 'White-Haired Stock God' Serenity Claims South Korea's Foosung to Become a 'Big Winner'

Claude to Mandate "Face-Scan ID Verification", No ID No Service Starting July?

A Clod of Chinese Soil Chokes Two Japanese Giants

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U.S.-Iran Ceasefire: How Much of a Bitcoin Rally Can a Truce Agreement Support?

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Article

Tom Lee Responds to Concerns Over Ethereum's Funding Crisis: Probability is Zero, Funds are in Place

Tom Lee Responds to Concerns of Ethereum Facing Funding Crisis: Probability is Zero, Funds are Secured

Bitdeer Sells 218.1 BTC This Week, Maintains Zero Holdings

Trump: The U.S. Did Not Pay Iran $300 Billion

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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