Forget the narrative that centralized giants dominate crypto: Hyperliquid, a decentralized exchange, not only out-earned Robinhood in Q1 crypto revenue and boasted vastly superior margins, but also became the world's most active oil trading venue. This isn't just disruption; it's a complete redefinition of what an 'exchange' can be. Are we underestimating the true power of DeFi?
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