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Jeff Yan

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Hyperliquid
2026-07-19 00:46:40

Hyperliquid’s Jeff Yan says crypto’s biggest risk is young founders choosing AI

Hyperliquid co-founder Jeff Yan said the risk he worries about most is not regulation, rival exchanges, market cycles or smart contract threats, but the steady pull of top young talent toward artificial intelligence. In his view, crypto, fintech and onchain finance still have not attracted enough of the highest-quality founders and engineers, especially at a time when AI offers more capital, more public attention and more startup opportunities. Yan also said he does not spend much of his time watching daily platform metrics such as trading volume, market share or liquidity depth, even though Hyperliquid operates in a highly quantitative market where those figures are closely tracked. He argued that teams that focus too heavily on improving existing metrics by a few percentage points can end up relying on subsidies, short-term campaigns or copycat product work, instead of building something that did not exist before. He pointed to Hyperliquid’s HIP-4 outcome markets as an example of that product approach. Yan said outcome markets should not be viewed only as prediction tools for elections, sports or other events. He described them as a different margin and payout structure, one that could be used to create fully collateralized, capped-loss contracts. He said that framework may be especially relevant for onchain options, where liquidity and capital efficiency have remained major obstacles.

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Hyperliquid’s Jeff Yan says crypto’s biggest risk is young founders choosing AI