Exponential Learning

His first-ever post on X announced an investment in Trade[XYZ] as ICE moves to bring Hyperliquid perpetual futures to the US, and his 13F showed he was positioned months earlier.

Show Notes

Alex and Jordan catch up on Stan Druckenmiller: on October 29, 2026 his first-ever post on X announced an investment in Trade[XYZ], which builds perpetual futures on Hyperliquid, the same day Intercontinental Exchange (owner of the New York Stock Exchange) agreed to invest and exclusively operate its regulated US markets. The episode covers what perpetual futures are, why Druckenmiller says he will use the product in his own process, the Q2 13F breadcrumb (about 2.94 million shares of Hyperliquid Strategies), the roughly 20 percent jump in the HYPE token, and the CFTC approval still ahead. Watch item: Duquesne's Q3 13F, due by November 16.

What is Exponential Learning?

Humans can absorb multiples more audio content than written. To that end, this podcast is for absorbing as much intelligence as possible as the catch-all for interesting articles, research reports, or podcast summaries. I hope you enjoy the knowledge as much as we do.