Ren Zeping’s Blog Spotlights Hyperliquid: 11-Person Team Earned $900M+ Last Year

The striking claim here is not Hyperliquid's profit but the source: a mainstream macro economist using a WeChat blog to frame a small crypto team as a benchmark against the largest listed tech firms. That signals per-head output metrics are migrating from equity research into crypto commentary, a shift that affects how traditional allocators assess on-chain venues. The NYSE comparison to Nasdaq volumes is the more consequential thread, since it implies a private, lightly staffed platform is being measured against incumbent market infrastructure. Whether that framing holds outside a macro blog is the open question.