Fuming

[Fuming @100cabbages]

@zoozai_invest are you saying, Kiavi volume started contributing last week, at least this is what the blockchain says.

But the Figure team doesn't include them in the connect volume so far. (wont include probably until Oct)

[Fuming @100cabbages]

@zoozai_invest looks like last weeks' volume data is not aligned with the company's reported one.

[Fuming @100cabbages]

@GoSailGlobal @yanliudreamer 我也是醉了，居然那么多人质疑博主锤人动机，非要算经济账。好像除了得罪人，没啥好处。

这就没有半毛钱理想信念了吗？就没有半毛钱，对原创的respect了吗？就不能做点什么事情，只为了这个社会更加公平公正吗？

做这些事情，没有爽感吗？

[Fuming @100cabbages]

女神

[奥斯瓦多埃夫利舍 @Heisracco]

“那是我第一次意识到，我不需要单打独斗全靠自己理解。”😭

[Fuming @100cabbages]

@HelloLydia13 这个资金费率需要breakdown一下吧，多少是利息的部分，多少是多空相互不贴的部分。利息部分是sustainable的，多空补贴是一次性的，或者说variable

[Fuming @100cabbages]

@chumacn 莫名其妙。你也是狗屁不知道li bojie的bar在哪里，在这胡说八道

[Fuming @100cabbages]

@SovereignIntern source？

[Fuming @100cabbages]

@Jiangzhuoer2 我靠，我觉得你讲的还挺有道理

[Fuming @100cabbages]

@andrew__reed Starbucks sold its Chinese business, and Luckin Coffee needs a high-end brand to compete with Starbucks in China.

Also, Blue Bottle US operations will help Luckin’s US expansion (currently 16 stores in Manhattan)

[Fuming @100cabbages]

@andrew__reed Centurium Capital bought the store-level business of Blue Bottle.

Centurium owns 23% economic share and 48% voting share of Lucckin.

[Fuming @100cabbages]

@rexuejianghu1 @bitfish 价格合适的话，会有MM去卖。MM自己会去hedge，hedge的一个方案就是买正股。

[Fuming @100cabbages]

https://t.co/fegQImu5RB

[Fuming @100cabbages]

the comments on this post mark a standard super bearish environment.

60% comments ridicule Klarna for fun, just pure emotional expression.

30% comments are the "bearish perception" of some neutral facts leaving the positive side neglected.

10% comments are neutral facts, or being bullish.

[Michael Burry Stock Tracker ♟ @burrytracker]

Breaking: Klarna is down 65% from its IPO price

The world's biggest "buy now, pay later" company:

Here's the full picture:
• Peak (2021): $45.6B valuation
• Bottom (2022): $6.7B
• IPO (Sep 2025): $40/share
• Now: $14.13/share

93 million users. 26 countries. And the stock can't find a floor.

"Buy now, pay later" as a business model seems to also be their investment advice, apparently.

[Fuming @100cabbages]

I thought money was mostly spent on employee checks in 2022 bear market.

[aadvark @aadvark89]

$2Bn in OpenSea fees well spent

[Fuming @100cabbages]

(3) Klarna gets Card business with monthly subscription fee.

Starting from here, it’s the path towards Neo Bank style business.

[Fuming @100cabbages]

Klarna is at the inflection point, the transaction margin dollar just barely cover the OPEX.

This inflection point is achieved in 2024, but prolonged into 2026 because of US expansion and Fair Finance adoption.

By scaling pay in 4 itself @Klarna can cross inflection point and be profitable.

[Fuming @100cabbages]

(2) Klarna gets the long term consumer loan product - Fair Finance.

In 2024, it’s 5% of GMV, in 2025 Q4, it’s 10% of GMV.

Merchant fair finance penetration rate increase from mid teens to 20% in 2025.

This is copying the play book of Affirm.