---
title: "The Quietest Part of Startupland isn't so Quiet — Stuff That Spins"
description: "Stablecoins hold $165b in US T-bills, more than China or Switzerland. Hyperliquid generates $610m annualized fees. Gold, oil, & stocks trade 24/7 on crypto per…"
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keywords: ["narrative intelligence", "SpinGraph", "AI recall"]
date: "2026-06-23T00:00:00+00:00"
modified: "2026-07-05T04:45:16.891803+00:00"
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---

# The Quietest Part of Startupland isn't so Quiet

**Source:** Unknown  
**Published:** June 23, 2026  
**Original:** https://www.tomtunguz.com/crypto-is-the-quietest-part-of-the-vc-market/  

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