Markets

Guy Young, founder of Ethena Labs, speaking on stage at TOKEN2049 in an Ethena T-shirt and headset microphone.

Markets

The Dollar That Pays You to Be Short

Guy Young built Ethena's USDe into one of crypto's largest synthetic dollars in two years. The October 2025 crash showed what it costs to hold one.

Jeff Yan, founder of Hyperliquid, seated in a pool of light against a dark studio backdrop, his shadow cast on the wall behind him.

Markets

The Exchange That Nobody Funded

Jeff Yan's Hyperliquid says it took no venture money. It now settles a measurable slice of the world's perpetual futures, and the risks are unusually visible.

Shayne Coplan, founder and CEO of Polymarket, in a blue sweater against a dark studio backdrop

Markets

The Dropout Who Priced the Election

Shayne Coplan built Polymarket in three months during lockdown. Five years on, it is a $9 billion bet that odds are the news.