2) It's been incredibly exciting getting to know @zachdex and the whole LedgerX team, and watching them, @Brett_FTXUS, @_Ryne_Miller, and others work together on a common goal:
one of the most exciting goals in the crypto ecosystem.
3) We're excited to work with the @CFTC on innovating in the US crypto derivatives space in a regulated, understood manor.
Common ground between regulators and industry is the foundation of safe, sustainable innovation.
2) We've admired what Liquid has been working towards: a leader in international cryptocurrency compliance, and one of the longest running exchanges in the ecosystem.
And we're excited to find more ways to work with them.
3) But for us, and for the Liquid team--@MikeKayamori, @CooLiquid, and everyone else--the customers always come first.
Which is why the first priority for them and for us was to make sure that everyone was going to be protected.
2) Huobi burned 2.3m HT ~ $22.6m for the month of July.
What does that mean?
3) Well, Huobi claims to burn 20% of its revenue.
(This is a little complicated -- they buy/burn 15%, and then they buy/burn 5% from something that looks kinda like the team allocation: huobi.com/support/en-us/…)
So that means they're claiming about $110m revenue in July 2021.