
How Hyperliquid Came to ‘Threaten the Very Existence’ of CEXs Like Binance - Ep. 915
Unchained
 00:00 
Key Risks: Hacks, Validators, Regulatory Moats
Sunny cites hacks and co‑located validator failures; Ryan flags lack of regulatory moats and long‑term competitive uncertainty.
 Play episode from 54:50 
 Transcript 


