The Gwart Show | Blockspace Media State of the trenches with Robert Chang
Jul 6, 2025
Join Robert Chang, a crypto trader and savvy Twitter commentator, as he shares tales from the tumultuous world of crypto. He opens up about his wild ride from a Luna enthusiast to battling setbacks with Hyperliquid. The conversation delves into the rise of AI token markets and critiques of VC practices, where he describes many as 'incredibly stupid.' Chang also explores the future of Internet Capital Markets, questioning their legitimacy and value. It’s a mix of insights, humor, and a candid look at crypto's chaotic landscape.
AI Snips
Chapters
Transcript
Episode notes
Luna Loss Led to Crypto Career
- Robert Chang started in crypto as a Luna bull and lost everything by looping Luna based on false trust.
- This loss pushed him to find a crypto job, landing at Perpetual Protocol where he learned the industry.
Builders vs. Users Disconnect
- Crypto builders and users are often disconnected, causing frustration among traders who want real utility.
- Markets move quickly, but meaningful product development takes years, making fast speculation unsustainable.
Hyperliquid Oracle Mishap
- Robert leveraged Hyperliquid heavily in late 2023 but suffered losses from a price oracle error.
- The Hyperliquid team refunded his liquidation as the price used differed significantly from exchanges.