{"id":5896,"date":"2026-08-24T12:38:32","date_gmt":"2026-08-24T12:38:32","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=5896"},"modified":"2026-08-24T12:38:32","modified_gmt":"2026-08-24T12:38:32","slug":"at-the-years-buzziest-blockchain-conference-a-new-crypto-powerhouse-emerges","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=5896","title":{"rendered":"At the year\u2019s buzziest blockchain conference, a new crypto powerhouse emerges"},"content":{"rendered":"<div>\n<p>Schamis is an old-school Wall Street guy who spent his early career at Salomon Brothers, the trading shop immortalized in Michael Lewis\u2019s <em>Liar\u2019s Poker<\/em>. His current act involves running a publicly traded firm that\u2019s built a business amassing Hyperliquid\u2019s HYPE token. It\u2019s a digital asset treasury, or DAT, in other words. Most DATs these days are a dumpster fire, but Hyperliquid Strategies, which started trading in December under the meme-inspired ticker symbol PURR, has been killing it with a soaring share price and a DAT stash that grows ever more valuable.<\/p><p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5893\">Google can track exactly how your agent spends your money \u2014 but it\u2019s no help when it buys something you didn\u2019t approve<\/a><\/p>\n<p>This success is partly due, no doubt, to Schamis\u2019s sound management. But the biggest reason that Hyperliquid Strategies hasn\u2019t flamed out like so many other DATs is because it is tied to a money printing machine. That machine is the Hyperliquid DeFi platform, which is dominating the perpetual futures trade and using its fee income to burn HYPE tokens. The situation is even sweeter for Hyperliquid because its customers are not just degens, but commodities traders using perps to swing oil contracts and other traditional assets 24\/7.<\/p><div><div><div><\/div><\/div><\/div>\n<p>So far, all of this action has been taking place overseas. Since the project\u2019s 2023 launch, its hard-charging CEO Jeff Yan (check out <em>Fortune\u2019s<\/em> profile of the Harvard grad and physics whiz here) has been content to use an offshore cowboy model to grow Hyperliquid. But that\u2019s about to change as Schamis\u2019s team ramps up a push to create a regulated U.S.-based operation.<\/p>\n<p>Other offshore firms have made plays for the U.S. market but mostly struck out, learning the hard way that it\u2019s not easy to dislodge longtime incumbents like Coinbase, Kraken, and Robinhood. Hyperliquid, though, is likely to fare better since Yan is American-born, and because it has some very influential people advocating for its platform, including President Trump and the Chairman of the CFTC, who is a fan of perpetual futures.<\/p>\n<p>On the corporate side\u2014Hyperliquid Strategies or PURR or whatever you want to call it\u2014there is a powerful team. That includes Schamis, who brings decades of TradFi credibility, and Jake Chervinsky, a highly influential crypto lawyer who is determined to create a legal regime for DeFi in the U.S.<\/p><div><div><\/div><\/div>\n<p>All of this suggests Hyperliquid could suddenly become a major competitive threat to the crypto industry\u2019s big dogs\u2014much as Binance emerged out of nowhere in 2017 to become the biggest exchange in the world. Indeed, the company was on the lips of many of those gathered in Wyoming last week. Incumbents take note.<\/p><p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5890\">Mark Cuban wants to solve wealth inequality by making employers choose between paying higher taxes or giving every member of staff company stock<\/a><\/p>\n<p> <br\/>jeff.roberts@fortune.com<br\/>@jeffjohnroberts<\/p><div><div><div><\/div><\/div><\/div>\n<div><div><\/div><\/div>\n<h3>DECENTRALIZED NEWS<\/h3><p><span>The <\/span><b>Supreme Court<\/b><span> will rule on the massive legal fight between <\/span><b>Kalshi<\/b><span> and state gaming commission by <\/span><b>next June<\/b><span> says a prediction market exec (<\/span><i><span>Fortune<\/span><\/i><span>)<\/span><\/p><div><div><\/div><\/div>\n<p>In a scathing op-ed, Columbia professor Omid Malekan called out alleged  used by the banking lobbying to kill the  (<em>Fortune<\/em>)<\/p>\n<p><b>Police in the UAE<\/b><span> briefly detained several <\/span><b>Binance employees<\/b><span> as part of an investigation into a bank account used to hold customer money (<\/span><i><span>Bloomberg<\/span><\/i><span>)<\/span><\/p><div><div><\/div><\/div>\n<p><b>Bitcoin is ripping<\/b><span> again, along with other coins, as a mix of short liquidations, upbeat political news, and Treasury Department profligacy drove the BTC to near $80,000 (<\/span><i><span>Fortune<\/span><\/i><span>)<br\/><\/span><span><br\/><\/span><span>Progressive Democrat and  (D-Mich.), an outspoken crypto critic,  in her retirement holdings (<\/span><i><span>NY Post<\/span><\/i><span>)<\/span><\/p><p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5888\">Flock Safety has been a venture darling. Will data privacy controversies halt its rise?<\/a><\/p><div><div><div><\/div><\/div><\/div>\n<h3>MEME O&#8217; THE MOMENT<\/h3><p>Time to hop back on the crypto bandwagon?<\/p>\n<p><div>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" ai,=\"\" alt=\"Aubrey Strobel Aug. 21, 2026 X post reads, \" back=\"\" class=\"wp-image-5895\" crypto.\"\"=\"\" height=\"524\" if=\"\" in=\"\" pivot=\"\" src=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/08\/8feb4256a4f70df95bd9c474ca3c2a17-1024x524.webp\" to=\"\" width=\"1024\" you're=\"\" srcset=\"https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/08\/8feb4256a4f70df95bd9c474ca3c2a17-1024x524.webp 1024w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/08\/8feb4256a4f70df95bd9c474ca3c2a17-300x153.webp 300w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/08\/8feb4256a4f70df95bd9c474ca3c2a17-768x393.webp 768w, https:\/\/crosscountrymovingteams.com\/wp-content\/uploads\/2026\/08\/8feb4256a4f70df95bd9c474ca3c2a17.webp 1224w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div><\/p><div><div><\/div><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Hyperliquid&#8217;s rapid growth was on everyone&#8217;s lips at last week&#8217;s elite SALT crypto conference.<\/p>\n","protected":false},"author":1,"featured_media":5894,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121],"tags":[],"class_list":["post-5896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fortune-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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