When Shift Happens Podcast

Jeff Yan, founder of Hyperliquid Labs, returns after one of crypto's most extraordinary moments - a $1 billion community airdrop that grew to $10 billion, built by a team of just 11 people who didn't stop to celebrate.

THE SHIFT NEWSLETTER
💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter
___________
PARTNERS
🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/
🅿️ Paradex is building the future of open finance — an intuitive, permissionless trading platform giving users full control, ultra-low costs, fast execution, and access to global markets in one place.  https://app.paradex.trade/wl/resilientrogueqv
💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT
🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.
 Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356
💰 Zashi is the easiest self-custody wallet for private transactions - send, receive, and spend Zcash (ZEC) without middlemen or surveillance, built by the team that launched Zcash in 2016.
https://z.cash/ecosystem/zashi-wallet/
🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/
💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.
 https://sui.io/
♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. 
⁠https://www.coinsilium.com⁠ 
___________
FOLLOW JEFF YAN
• Twitter: https://x.com/chameleon_jeff
• Website: https://app.hyperliquid.xyz/trade
FOLLOW WHEN SHIFT HAPPENS
Twitter (X): https://x.com/KevinWSHPod  
Instagram:  https://www.instagram.com/kevinfollonier_ 
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://kevinfollonier.com/
DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.
0:00 Introduction
1:35 Please Subscribe
2:01 Jeff’s Thoughts On Singapore
11:10 Partnerships: @JupiterExchange @KASTxyz
11:51 How To Make HyperLiquid A Cult For Those Outside Crypto To Come In
22:05 What Jeff Looks At For Reliable Teammates
24:51 Celebrations Or Right Back To The Grind
26:45 How Do You Test For High Integrity
28:31 How About Sleep? Is That A Thing At HyperLiquid
30:05 The Fear Of $300 Million Worth Of Token Hitting The Market Monthly Explained
31:41 Handling FUd, Criticism, & PR At HyperLiquid
32:28 How Does Jeff Personally Handle FUD
35:02 What’s The Problem With Buying Back Tokens When The Price Is High vs Low?
37:20 The Importance Of No Discretionary Element For HyperLiquid
39:04 Hyper EVM Explained Simply
40:00 Partnerships: @paradex @zashi_wallet
40:41 Jeff’s Take On The Success Of Hyper EVM So Far
44:05 HyperLiquid Improvement Proposal 3 Explained Simply
48:19 Why Should People Care?
51:33 Why Is It So Important To Bring All Finance On Chain
52:08 Why Is The HyperLiquid Approach Better
1:08:01 Partnerships: @Trezor @BitwiseInvest @SuiNetwork
1:08:58 Housing All Of Finance Meaning
1:12:23 Why Does HyperLiquid Have A Stablecoin USDH
1:14:39 What Is Kinetic & Why Does It Matter For The HyperLiquid Ecosystem
1:23:39 Where Did Fairness Cost Jeff The Most?
1:24:47 What Do You Want HyperLiquid To Be Remembered For
1:28:10 Closing Thoughts

Avichal Garg is co-founder of Electric Capital, one of crypto's most respected early-stage funds, and an early backer of Solana, Kraken, Figma, and Bitwise.

THE SHIFT NEWSLETTER
💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter
___________
PARTNERS
🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/
🅿️ Paradex is building the future of open finance — an intuitive, permissionless trading platform giving users full control, ultra-low costs, fast execution, and access to global markets in one place. Money Badgers Genesis NFT drops in Q4 — limited spots 👉 https://app.paradex.trade/wl/resilientrogueqv
💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT
🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.
 Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356
💰 Zashi is the easiest self-custody wallet for private transactions - send, receive, and spend Zcash (ZEC) without middlemen or surveillance, built by the team that launched Zcash in 2016.
https://z.cash/ecosystem/zashi-wallet/
🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/
💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.
 https://sui.io/
♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. 
https://www.coinsilium.com
___________
Follow Avichal Garg
• Twitter: https://x.com/avichal
• Twitter: https://x.com/ElectricCapital
• Website: https://www.electriccapital.com/

FOLLOW WHEN SHIFT HAPPENS
Twitter (X): https://x.com/KevinWSHPod  
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://kevinfollonier.com/

DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction
1:38 Please Subscribe
4:26 KAST Card Plug & My Life Is Built On Stable Coins
6:24 Why Avichal Wears A Cap All The Time?
8:05 What Can You Tell Us About Bitwise
9:51 The People Who Built Bitwise Are Geniuses Or?
10:53 Lessons From Silicon Valley About Beliefs
12:30 Partnerships: @JupiterExchange @KASTxyz
13:06 What Fuels Belief For Successful Entrepreneurs
19:34 How Early Did You Invest In These Companies
20:15 Is It Luck Or Genius That You Invested
28:37 Partnerships: @paradex @zashi_wallet
34:00 Avichal’s Backstory
40:05 Connection Between Crypto & “The Little Guy”
43:32 How Does Silicon Valley Look At Crypto Investors
44:48 Partnerships: @Trezor @BitwiseInvest @SuiNetwork
45:40 What Happens To Those Who Are In Crypto But Don’t Believe In It
47:26 Why The Majority Of People Can’t Buy & Hold In Crypto
55:03 How High Can Bitcoin, ETH, & Crypto Get Based On These Principles?
1:01:06 The Compounding Effect & Logic Behind Bitcoin Investing
1:02:19 Applying This “Compound Effect” To ETH, SOL, & Bitcoin
1:06:15 Any Other Crypto Assets That May Have Reached Insane Velocity In 2026
1:07:51 Avichal’s Thesis On SUI
1:10:20 Closing Thoughts

Anthony Pompliano, founder and CEO of Professional Capital Management, reveals how he put 95% of his net worth into Bitcoin and why extreme concentration backed by deep research isn't gambling - it's conviction.

THE SHIFT NEWSLETTER
💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter
___________
PARTNERS
🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/
🅿️ Paradex is building the future of open finance — an intuitive, permissionless trading platform giving users full control, ultra-low costs, fast execution, and access to global markets in one place. Money Badgers Genesis NFT drops in Q4 — limited spots 👉 https://app.paradex.trade/wl/resilientrogueqv
💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT
🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.
💰 Zashi is the easiest self-custody wallet for private transactions - send, receive, and spend Zcash (ZEC) without middlemen or surveillance, built by the team that launched Zcash in 2016.
https://z.cash/ecosystem/zashi-wallet/
 Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356
🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/
💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.
 https://sui.io/
🔘 Mantle Network combines Ethereum-level security with low fees and fast transactions via its layer-2 tech. Stake ETH for mETH and join a transparent, community-governed ecosystem. 
Join the upcoming Mantle Hackathon: https://mantle.to/hackathon/a4t
___________
FOLLOW ANTHONY POMPLIANO
• Twitter: https://x.com/APompliano
• Instagram: https://www.instagram.com/pompglobal

FOLLOW WHEN SHIFT HAPPENS
Twitter (X): https://x.com/KevinWSHPod  
Instagram:  https://www.instagram.com/kevinfollonier_ 
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://kevinfollonier.com/
DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.
0:00 Introduction
1:21 Please Subscribe
1:46 5 Podcasts In 1 Day, Yet Anthony’s “Ok”
2:36 Who Are You
2:50 Why Relentless Is Anthony’s Favorite Word
3:38 The Key To Keeping Conviction When Things Are Bad With Your Portfolio
4:30 How Does Someone Who Relies On Their Portfolio Build Conviction
6:17 Anthony Is A Risk Cowboy
7:06 The History Of Anthony’s Risk & Conviction
8:55 Partnerships: JupiterExchange, KAST
9:31 The Fine Line Between Gambling Addicts & Having Concentrated Bets
12:20 Making Changes From 95% In Bitcoin To Other Assets
14:08 Anthony’s Evolution Towards Investing
19:30 Partnerships: Paradex, Zashi Wallet, Mantle
20:39 Does Forcing Yourself Into A Corner Result In True Growth
26:17 Partnerships: Trezor, BitwiseInvest, SUI
27:10 How To Invest In Those 3 Big Topics Today
29:40 A Realistic Return On Bitcoin Over The Next 10 Years
32:18 A Single Bitcoins Worth In 30, 40, Or 50 Years
33:12 Closing Thoughts

Matt Hougan, CIO at Bitwise, explains why Bitcoin could reach $6.5 million and why Solana has "the best setup I've ever seen" for a 10x to $1 trillion.

THE SHIFT NEWSLETTER
💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter
___________
PARTNERS
💰 Zashi is the easiest self-custody wallet for private transactions - send, receive, and spend Zcash (ZEC) without middlemen or surveillance, built by the team that launched Zcash in 2016.
https://z.cash/ecosystem/zashi-wallet/
🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/
🅿️ Paradex is building the future of open finance — an intuitive, permissionless trading platform giving users full control, ultra-low costs, fast execution, and access to global markets in one place. Money Badgers Genesis NFT drops in Q4 — limited spots 👉 https://app.paradex.trade/wl/resilientrogueqv
💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT
🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.
 Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356
🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/
💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.
 https://sui.io/
🧩 Story makes IP and real-world data programmable, enforceable, and monetizable.
 https://www.story.foundation
★ Forza!, Coinsilium’s Gibraltar-based Bitcoin treasury arm. Coinsilium trades on AQUIS (COIN) and OTCQB (CINGF). https://www.coinsilium.com/
🔘 Mantle Network combines Ethereum-level security with low fees and fast transactions via its layer-2 tech. Stake ETH for mETH and join a transparent, community-governed ecosystem. 
Join the upcoming Mantle Hackathon: https://mantle.to/hackathon/a4t
___________
Follow Matt Hougan
• Twitter: https://x.com/matt_hougan
• Twitter: https://x.com/bitwiseinvest

FOLLOW WHEN SHIFT HAPPENS
Twitter (X): https://x.com/KevinWSHPod  
Instagram:  https://www.instagram.com/kevinfollonier_ 
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://kevinfollonier.com/
DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction
1:35 Please Subscribe
2:01 Matt’s Last Episode Popped Off
3:59 At Least 10x Left On The Crypto Marketplace?
4:36 Why Is Bitcoin Still Early
5:43 Who Are You
11:09 Our Trusted Partners
11:45 Why Is A Higher Price In Gold Bullish For Bitcoin
12:49 Matt’s Portfolio Regarding Gold, Bitcoin, & Crypto
13:56 How Does 1 Bitcoin Reach $6.5 Million In 20 Years
15:03 How Could This Thesis Be Wrong
20:27 Wise & Boring vs Unwise & Exciting
21:40 Two Bets On Solana Explained
25:11 Confusion With Crypto Investing Explained
30:00 Does Solana Have The Best Setup
30:31 How Big Could Solana Get In 10 Years
31:20 Our Valued Sponsors
32:29 How Matt Expresses His Bullishness On Solana 
37:13 Is Your View Still Holding Bitcoin, Bitcoin, Bitcoin?
38:27 What’s The Deal With Ethereum
42:14 Our Esteemed Supporters
46:16 Debasement Trading Will Be More Popular In 2026
48:00 How Do I Get Rich With Crypto In 2026
49:14 Alpha & Long Term Trends Build Wealth In Crypto
55:23 One Thing To Remember From Conversation

Kostas Chalkias, co-founded Sui after leaving Facebook's Libra - and named his son Kryptos.
While other blockchains compete on speed, Sui built what nobody else prioritized: quantum-safe cryptography, AI-ready infrastructure, and blocks large enough for robots. 
Governments and developers are quietly choosing Sui over Ethereum and Solana.

THE SHIFT NEWSLETTER
💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter
___________
PARTNERS
💰 Zashi is the easiest self-custody wallet for private transactions - send, receive, and spend Zcash (ZEC) without middlemen or surveillance, built by the team that launched Zcash in 2016.
https://z.cash/ecosystem/zashi-wallet/
🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/
🅿️ Paradex is building the future of open finance — an intuitive, permissionless trading platform giving users full control, ultra-low costs, fast execution, and access to global markets in one place. Money Badgers Genesis NFT drops in Q4 — limited spots 👉 https://app.paradex.trade/wl/resilientrogueqv
💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT
🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.
 Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=1026f18ed46409e495c6db4bff90ab&offer_id=133&affiliate_id=35356
🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/
💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.
 https://sui.io/
🧩 Story makes IP and real-world data programmable, enforceable, and monetizable.
 https://www.story.foundation
★ Forza!, Coinsilium’s Gibraltar-based Bitcoin treasury arm. Coinsilium trades on AQUIS (COIN) and OTCQB (CINGF). https://www.coinsilium.com/
🔘 Mantle Network combines Ethereum-level security with low fees and fast transactions via its layer-2 tech. Stake ETH for mETH and join a transparent, community-governed ecosystem. 
Join the upcoming Mantle Hackathon: https://mantle.to/hackathon/a4t
___________
CONNECT WITH KOSTAS
Twitter: https://x.com/kostascrypto
Twitter: https://x.com/Mysten_Labs
Website: https://t.co/EufSM90Sd9
FOLLOW WHEN SHIFT HAPPENS
Twitter (X): https://x.com/KevinWSHPod  
Instagram:  https://www.instagram.com/kevinfollonier_ 
TikTok: https://www.tiktok.com/@kevinfollonier_
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://kevinfollonier.com/
DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction
1:32 Please Subscribe
1:56 Going Outside
3:26 Time Difference In Dubai vs U.S
5:50 Why Kostas Doesn’t Sleep
8:09 Isn’t It Annoying To Change This 8 Year Habit
8:42 Did You Realize This Habit Wasn’t Healthy
11:50 Our Trusted Partners
12:26 Using Stable Coins Everywhere
12:59 What Is A Cryptographer Explained To Your Mom
15:18 How Secure Are WhatsApp Messages from Governments POVs
28:20 Most Companies Lack Strong Cryptography Teams
30:03 Do You See This Happening With Mysten, Growing To Big To Make Decisions Quickly
33:00 Our Valued Sponsors
43:46 What Is The One Big Breakthrough SUI Is Known For
50:34 - Our Esteemed Supporters
51:25 What Is SUI Doing At The Intersection Of AI, Crypto, And Robots
59:26 Closing Remarks - Most Passionate Founder