Market Infrastructure
Hyperliquid, energy and the next market infrastructure
Energy does not need another token. The more interesting opportunity is a programmable financial layer for electricity risk, collateral and settlement.
Latest
Market Notes
Teaching a machine what BRL looks like
A price is not just a number. It is a venue, a timestamp, a size, a liquidity condition and a settlement path.
CFO Studies
What does it actually cost to move $10 million through Brazil?
The cheapest FX spread may not be the cheapest route. A framework for measuring execution, capital, time, operations and risk.
Operating Notes
The database is not the operating system
A database can store what happened. An operating system needs to understand what changed, what matters now, and what should happen next.