Hyperliquid、Ethena、Aave 三巨头论道：DeFi 的未来在哪里？

marsbitPublished on 2025-10-19Last updated on 2025-10-20

编者按：DeFi 作为加密行业最具变革性的领域之一，正在从早期的实验性协议，逐步演化为全球金融基础设施的重要组成部分。

本文整理自 2025 年 Token2049 期间的一场圆桌讨论。论坛由 Dragonfly 合伙人 Haseeb Qureshi 主持，邀请了三位来自 DeFi 核心协议的代表人物：JEFF（Hyperliquid）、GUY（Ethena）和 STANI（Aave）。

三位嘉宾围绕稳定币的泛化趋势、永续合约的未来、链上收益产品的主流化路径、DeFi 与 CeFi 的融合、系统性风险管理，以及 DeFi 协议的「集团化」演化进行了深入探讨，分享了他们对行业热点的判断与态度。

An 18-Year-Old Hacker Brags on Discord, Accidentally Reveals a $19 Million Theft Case

An 18-year-old American hacker, Dritan Kapllani Jr., has been exposed by on-chain investigator ZachXBT for allegedly masterminding a series of social engineering attacks that stole approximately $19 million from crypto users. The investigation began after a Discord voice call on April 23, 2026, where Dritan shared his screen to boast, revealing an Exodus wallet holding around $3.68 million. Tracing this address, ZachXBT linked it to a major March 14, 2026 theft of 185 BTC (worth ~$13 million at the time), with about $5.3 million of that sum funneled into Dritan's wallet. Further analysis revealed the wallet also contained over $5.85 million from multiple social engineering thefts dating back to 2025. In a May 11, 2026 unsealed criminal complaint against another individual, Trenton Johnson, a key co-conspirator marked "CC-1" is identified, with the on-chain community pointing to Dritan. While not formally charged yet, he is now named in the judicial narrative. Another individual, Meme coin KOL yelotree, faces charges for allegedly assisting in money laundering. Dritan, known for a lavish lifestyle on social media, was previously seen as having a "protagonist aura" within hacking circles, evading consequences as associates were apprehended. However, now that he has turned 18, he is facing legal accountability for his past actions.

marsbit4m ago

An 18-Year-Old Hacker Brags on Discord, Accidentally Reveals a $19 Million Theft Case

marsbit4m ago

18-Year-Old Hacker's Boastful Discord Display Leads to Uncovering of $19 Million Theft Case

An 18-year-old hacker from the U.S., Dritan Kapllani Jr., has been exposed by on-chain investigator ZachXBT for his alleged involvement in multiple cryptocurrency social engineering attacks, with total funds stolen estimated at $19 million. The case gained attention after Dritan inadvertently revealed his involvement during a Discord voice call in April 2026, where he screen-shared his Exodus wallet containing approximately $3.68 million to show off his wealth during a "Band 4 Band" argument. Tracing this wallet address led investigators to uncover its connection to a major theft from March 14, 2026, where 185 Bitcoin (worth around $13 million at the time) was stolen. Approximately $5.3 million from that heist was funneled into Dritan’s wallet. Further analysis linked the same wallet to over $5.85 million from other social engineering attacks dating back to 2025. While Dritan has not yet been formally charged, he is identified as "Co-Conspirator 1" in recently unsealed court documents related to the 185 Bitcoin theft case. Another individual, Meme coin KOL yelotree, is also implicated for allegedly assisting with money laundering through a car rental business. Dritan, who had been living a lavish lifestyle and was previously seen as untouchable within hacking circles, turned 18 recently, making him legally accountable. His previous "immunity" has ended as law enforcement closes in.

Odaily星球日报10m ago

18-Year-Old Hacker's Boastful Discord Display Leads to Uncovering of $19 Million Theft Case

Odaily星球日报10m ago

Ilya Takes the Stand for Revenge, Confirming Altman Lied, Holding $70 Billion and Saying 'I Don't Want OpenAI to Be Destroyed'

Ilya Sutskever, former chief scientist of OpenAI, testified in Elon Musk's lawsuit against the company, alleging that CEO Sam Altman is a habitual liar who sowed discord among executives and created an environment that hindered serious AI safety discussions. Sutskever revealed he compiled a 52-page dossier on Altman's conduct over a year before the November 2023 boardroom attempt to oust him. He confirmed his OpenAI stake is worth $7 billion. During his testimony, Sutskever expressed regret over his role in the board's actions, citing a lack of experience and poor legal advice. He stated his reversal—signing a letter to reinstate Altman—was a desperate move to prevent OpenAI's collapse and a potential Microsoft takeover, saying, "I didn't want it to be destroyed." The trial also uncovered details about a potential OpenAI-Anthropic merger post-ouster and internal Microsoft communications pressuring for faster ChatGPT monetization. While Sutskever's testimony damaged Altman's credibility, it also countered part of Musk's case, as he stated he never promised Musk that OpenAI would remain non-profit. The trial's outcome could impact the future structure of the $850 billion-valued company.

marsbit33m ago

Ilya Takes the Stand for Revenge, Confirming Altman Lied, Holding $70 Billion and Saying 'I Don't Want OpenAI to Be Destroyed'

marsbit33m ago

Behind Galaxy Digital and SharpLink's $125 Million DeFi Fund: Why Are Institutional Funds Embracing DeFi Again?

In May 2026, Galaxy Digital and SharpLink announced a $125 million Institutional Onchain Yield Fund, marking a significant pivot as institutional capital begins systematically integrating corporate ETH treasuries into DeFi. This move signals a shift from passive crypto holdings to active on-chain asset management. SharpLink is evolving into an "ETH Treasury Company," focusing on managing ETH's capital efficiency beyond simple staking, akin to a digital-age internet bond. Galaxy's role is to embed Wall Street-grade risk controls—managing exposure, volatility, and compliance—into DeFi, positioning itself as an "Onchain Asset Manager." This renewed institutional interest stems from DeFi's maturation into a "real yield" era with sustainable cash flows from stablecoin lending, on-chain treasuries, restaking, and RWA pools. Stablecoins have institutionalized into an on-chain dollar system, while restaking (e.g., EigenLayer) is reshaping ETH into a productive yield-bearing asset, forming an "internet benchmark rate." The collaboration reflects an upgrade to ETH's narrative: from a speculative asset to productive on-chain collateral and financial infrastructure. However, institutionalization amplifies systemic risks like liquidity crises and cross-protocol contagion, akin to traditional finance's pitfalls. Ultimately, this fund represents a foundational step toward building a native internet financial system—with stablecoins as digital dollars, ETH as reserve capital, and DeFi as banking—indicating that on-chain markets may become integral to the global financial architecture.

marsbit45m ago

Behind Galaxy Digital and SharpLink's $125 Million DeFi Fund: Why Are Institutional Funds Embracing DeFi Again?

marsbit45m ago

Can XRP Catch Up To SWIFT? This Latest ISO Is Changing The Game

A crypto analyst argues that SWIFT's upcoming global shift to the ISO 20022 messaging standard by November 2026 will force a major overhaul of the legacy banking system, potentially benefiting XRP. The analyst, Cheeky Crypto, explains that SWIFT will phase out unstructured messaging, compelling banks to adopt structured, blockchain-backed solutions. He suggests institutions, lacking time and resources to build their own compliant systems, are increasingly turning to existing, regulator-approved bridges like XRP to ensure liquidity. He notes rising institutional interest in XRP-based products and highlights the XRP Ledger's advantages—settling transactions in seconds for minimal cost compared to the days and high fees of traditional cross-border transfers. Ripple's Executive Chairman is cited, stating the 2026 mandate will "wash away" non-compliant, legacy foundations.

bitcoinist1h ago

Can XRP Catch Up To SWIFT? This Latest ISO Is Changing The Game

bitcoinist1h ago

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5.0k Total ViewsPublished 2024.03.29Updated 2025.05.06

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