~$352m was taken from @bitget hot & warm wallets yesterday. In a market already in fear, that is an industry loss. Anyone building, trading, or allocating here shares the downside of the next incident.
It is fair to ask what failed, whether users are covered, and when withdrawals return. So is expecting peers to help trace funds and share what broke.
We go through events like this by treating them as a shared problem in how risk is managed. Taking a shot while a platform is down does not make the industry safer or the next incident less likely.
4
159
fuzzcheek retweeted
Yet another benefit for ARC members!
Say hi to Milli (millisingapore.com/ sister concept to the beloved Bae’s Cocktail Club). Perched atop the National Gallery, the Sky Dining & Bar serves refined plates, elegant cocktails and Singaporean cuisine from a Michelin-starred chef (LG Han) and an award-winning bartender (Vijay Mudaliar), all with an unobstructed view of Singapore's skyline.
One floor down is Milli Lounge, where you can groove to pop, disco, funk and house, plus a playlist of throwback anthems Singaporeans have loved through the decades.
TL;DR: dinner, drinks, and a dance floor, all without leaving the building.
With this partnership, ARC members will unlock priority booking, guestlist access and preferential rates for private events & corporate bookings.
Big shoutout to our Stellar @AryyyGold and Milli's co-founder Dharma, for bringing this to the ARC fam! 💜
fuzzcheek retweeted
"I talk to David so I don't need to read research reports." - @Gabewiththehat
Join @DavidDuong, who has 20 years of experience working in rates, macroeconomics and quantitative modeling, for a sharp read on markets, macro, protocol risk, and the stuff institutions are watching before the rest of CT starts pretending they saw it coming.
Moderated by our favourite Deputy CEO, Gabriel Yang, which means you can expect sharp questions, quick ribs, and the occasional line that should probably be clipped. 🚩
Macro Audio Room with David
🗓️ 26 May, 10PM (UTC+8)
📍 ARC App
fuzzcheek retweeted
Quote of the day:
Build your circle with people who share your values and vision.
Walk away from those who only value your access, money, or status.
Real friends bring energy. Fake friends bring invoices.
fuzzcheek retweeted
Dave is right - USVC yet another grift in the world of retail-accessible VC. I went through the 56-page prospectus and its even worse than the tweet suggests:
1. Fee stack: 3.61% gross annual expense ratio, capped net at 2.50%. Underlying SPVs/VC funds charge another 1–2.5% mgmt + 20–30% carry on top. You're paying 3+ layers of fees before any return hits your account.
2. The prospectus states twice, verbatim: "The Investment Adviser has no previous experience managing a closed-end, registered investment company." The adviser was formed Dec 2023 and rebranded from "Strawberry Tree Management" to "AngelList Asset Management" last November.
3. Portfolio manager Ankur Nagpal is compensated on AUM growth, not performance. Straight from the prospectus: his Carry acquisition earnout "includes contingent payments tied to USVC's growth in assets under management." Textbook non-traded REIT incentive structure.
4. AngelList gets paid three times on the same dollar:
• 1% advisory fee to AngelList Asset Management
• Up to 5% of profits to Platform Advisor LLC (AngelList affiliate)
• Fund admin fees to Belltower Fund Group (AngelList affiliate)
5. NAV is sponsor-marked - the adviser is its own "valuation designee." Prospectus disclaimer: "Fair value prices are necessarily subjective in nature…no assurance that such a price will be at or close to the price at which the security is next quoted or next trades."
6. "5% quarterly redemptions" is marketing. Reality: Board can cancel any offer, can offer less than 5%, can repurchase at a discount to NAV, and oversubscribed offers prorate. Straight from the doc: "Shareholders should not rely on being able to tender the full amount—or any—of their Shares."
7. Naval frames it as "VC for everyone." The prospectus describes a non-traded CEF with sponsor-marked NAV, AUM-linked manager comp, three layers of affiliate fees, and gated discretionary liquidity.
Retail doesn't need access to private markets this badly.
Replying to @naval
Pretty much the worst possible structure for a legally issued security in the U.S. Market: the non-traded Closed End Fund. Congratulations, you found the grift pile sitting right next to non-traded REITs and BDCs. Enjoy the 3% sales load!
fuzzcheek retweeted
I want to re-iterate the thoughts that I had a few months ago, where I said that startup culture has crossed the chasm of becoming purely status seeking & for clout chasers (think of the viral post where a bunch of Asians came out to say "Forbes 30u30 / Harvard / Colombia students help build for you!") and like all things, this subverts the original intentions of startups and entrepreneurships
Preface to say that this is not directed at the account in particular, but more of this trend of "startup schools" and "hacker houses" becoming the new in-thing that seems to have replaced traditional accelerators and even traditional colleges as people are dropping out to join these:
Startups were meant for entrepreneurs to solve problems, with the structural advantage of moving fast and breaking things that bigger players can't afford to do (You can't turn a huge ship easily)
But somewhere along the way, the ecosystem flipped. The thing that made startups cool - the scrappiness, the garage mythology, the "I dropped out because I couldn't stop building" energy — became aesthetic. And once something becomes aesthetic, it attracts people who want the aesthetic without the substance.
Now u get this weird amalgamation of "having the status already, without the results" - "Fly To Seoul, KBBQ & Soju, etc." like it's a lifestyle or a game, and not the difficult journey it seems to be. The problem you're solving isn't even in the conversation. The city is the draw. The funding is the draw. The experience is the draw. The actual startup is almost an afterthought - a ticket you need to punch to access the lifestyle.
I think it seems easy because people aren't thinking beyond the product - the end goal is to get the raise, because it seems common sense that once you get the $, you can raise the next round easily, and the next, and the next - that it'll just be an easy snowball.
This is exactly how subcultures die. The original creators: obsessive founders who were building in obscurity because they genuinely couldn't help themselves - get drowned out by a wave of participants who showed up for the scene, not the work
And then people figure out you can package "startup founder" as an identity product and sell access to it. Suddenly demo days and warm intros are what gets optimized for ; YC in its early days optimized for the quality of the problem and the obsession of the founder. Now these programs optimize for Instagram moments & LinkedIn announcements. Instead of "here's what alumni have shipped", we have "all expenses paid, nice hotels" - no longer selecting for builders but for people who want to be selected.
The irony is that these programs will produce exactly enough surface-level success stories to sustain themselves - a few decent companies will emerge from each cohort, because even random selection from ambitious people yields some hits. And those hits will be used to justify the next cohort, and the next one, while the median outcome remains what it always is: a nice LinkedIn post, a network of other aspiring founders, and no product anyone uses.
Anyways, like all things - this is merely an observation. There's no solution to this, this is just how cultures evolve and cycles turn. Like all trends, this is just the dying light of the trend. When everyone's a "founder", the word means nothing. When every 22-year old has "backed by [accelerator]" in bio, it becomes becomes noise. This is basically how universities died. And this will be how startup culture will die too.
i’m looking for ambitious founders across asia (SEA included) to come and work at our zerobase hq located in seoul for 1 month.
-4 weeks of building
-1 demo day
-get funded up to $250k
-referred to a16z speedrun
-unlimited kbbq & soju
flights included.
comment if you’re interested in coming to seoul!
fuzzcheek retweeted
Tbh Polymarket is going to enable wide scale “risk-free” insider trading by professionals.
When I was a first year trainee at a magic circle firm I was earning c. 50k GBP per annum and I had access to a metric fuckton of material non public info.
Which M&A was closing. Which PE funds preparing a takeover. Who’s defaulting on debt etc. Like one insider trade on a small stack on that info could’ve paid as much as a year working 16 hour days. Obviously nobody did.
It was easier to police bc to trade that info you had to open a brokerage account etc and getting caught meant you’re completely fucked career wise - and might face civil and criminal charges. Also - the law was actually enforced then and the social contract was intact.
Now any poorly paid junior can anonymously trade that info via the magic of crypto.
And in this high crime low enforcement zero morals environment where the young feel like they need to hyper gamble to escape the permanent underclass - they will.
🚨 A group of wallets on Polymarket keeps making wildly accurate bets on corporate earnings
Every single company they bet on shares the exact same auditor: KPMG
We are talking about max conviction trades on $HD, $DASH, $KMX, $THO and $SNEX right before the official reports drop
If this guy really is an insider, making these bets on a transparent blockchain seems like a terrible idea
Plot twist
The insider trader is zach
The insider insider traded on the investigation into his own insider trading and made over half a million dollars.
polymarket.com/profile/0xe56…
polymarket.com/@0x054eC2F0cC…
7
345
Reminder to self:
Don't be the one who regretted not buying $BTC at the lows when it's hitting ATH.
2
12
176
Crypto meets TradFi. One App. 🌍
Everyone can now trade Gold, Forex, Indices, and more directly with USDT on #BitgetTradFi.
🔥 80,000+ Beta sign-ups 🔥 $10B+ Trading volume
The wait is over. Start now: 👇
bitget.com/support/articles/…
fuzzcheek retweeted
i have no desire to be rich so i can buy a rolex or a lamborghini.
i want to be rich so i can control my time and go to the gym at 3pm on a monday.
sit at a cafe and relax for an hour on a rainy afternoon.
so i can cook meals at home with fresh ingredients.
spend on my family and friends without worrying about a budget.
that's my idea of a rich life, not the fake consumerist idea shoved down my throat.
fuzzcheek retweeted
Man, I can't believe it's been so long since we started ARC. It all began years ago, when Kiat and myself were with a few friends, chilling at a hotel lobby bar. For some reason, we asked ourselves why there wasn't a digital first private community in this part of the world(now thinking back, it’s crazy to note how the internet changed so much so quickly), despite the fact that we were all digital natives. That conversation kickstarted a whole series of events that led us to where we are today.
I've shared before about how I was inspired by the Roman arches in coming up with our name, ARC. These deceptively simple arches were building blocks that became the foundation for how the Greek and Roman civilisations were built. They allowed for the ability to create massive structures and enabled a complex architectural system of various infrastructure that supported the entire civilisation.
And that's what we have been striving to do with ARC from the beginning. Create the foundation that will allow us to build out an ecosystem of businesses, products, services and IP that has the potential to touch the lives of millions of day to day users globally. And we will achieve that by tapping on the collective resources and of an aligned group of individuals acting as a single entity.
Our vision has always been to bring people together to do things together. Things haven’t always been easy and there are so many things that we can improve on and better, but with the completion of the mint last year, we're really starting to see that vision manifest itself these last 12 months.
In the last several months, the team has been working on a few different projects which I've shared with members in our closed group chats. While the markets may seem lack lustre at the moment, as a builder, I can't be more excited about where we are at right now. Crypto and the real world is finally converging and we are at an interesting chasm that ARC is uniquely positioned to pursue. Here's to a bigger and brighter 2026 to come. Merry Xmas to all!
The different arcs of ARC, from 2022 to 2026.
If you’re an OG Stellar, these threads will bring back some fond memories.
If you’re a newer Stellar, this will give you a glimpse into what you’re now part of.
And if you’re not a Stellar, you’ll see how we’ve spent nearly four years laying the groundwork, and why everyone will eventually cross paths and interact with the ARC ecosystem.
🧵
fuzzcheek retweeted
The different arcs of ARC, from 2022 to 2026.
If you’re an OG Stellar, these threads will bring back some fond memories.
If you’re a newer Stellar, this will give you a glimpse into what you’re now part of.
And if you’re not a Stellar, you’ll see how we’ve spent nearly four years laying the groundwork, and why everyone will eventually cross paths and interact with the ARC ecosystem.
🧵
fuzzcheek retweeted
NOCTURNAL SURPRISE – $10,000 RAFFLE
In celebration of the banger that was @SolanaConf, we’re calling all @solana lovers to step into the night and trade on Nocturnal.
The latest Nocturnal Surprise is now LIVE. And the grand prize? A sweet $10,000.
Only one trader will claim it. Might as well be you.
How to enter: Trade at least 26 SOL in volume (excluding referral volume) during the raffle period to qualify.
- Every Moon Points (MP) earned during this period = 1 raffle ticket
- Part of the early and the loyal of Nocturnal? You've unlocked a slight boost: The MP that you've earned BEFORE 15 Dec 2025 = extra raffle tickets! (Note that you'd still need to trade at least 26 SOL in volume during the campaign period in order to QUALIFY for this raffle)
Want more MP?
1. Trade more memes on Nocturnal
2. Refer your friends
Raffle ends: 12 Jan 2026
Follow @nocturnaldotxyz now and turn on notifs, because you never know what other surprises we might throw out. ☾
fuzzcheek retweeted
in the spirit of christmas… @ellisliu9 and i are going to do a paradex xp auction and give away ✨
just going to have some fun, people want fiat, we only accept XP 🤨
see yall in a few hours on @Paradex_Eco @paradex
Q: How to be a crypto millionaire?
A: Start off by being a crypto billionaire.
You’re welcome 😆
6
261
fuzzcheek retweeted
🚨 I've been in this space for awhile, but almost got hacked today. Please be careful out there and stay safe!
Got an email from a Bradley Kam impersonator (ex-@unstoppableweb) about a “new Pantera-backed project” with the Winklevoss twins, Brian Armstrong, and Bryan Johnson.
The CTA was to confirm your contact info by clicking on a link ending with .scr.
TBH, I didn’t read it properly and replied “Confirm.”
They replied: “Hi Kirby, can you confirm all of the details in the screensaver? Thanks.”
That's when it clicked. Why on earth is there a need to confirm a screenshot?
Quick google search later showed that .scr = executable file. If I had clicked that link, out of negligence, unawareness, sleepiness, it would have been over.
Stay sharp, friends.



























