Nick 🐍

[Nick 🐍 @BigSwingingNick]

@Z06Z07 @medolarkjelnick @saylor @Strategy The $STRE holder is not exposed to the upside BTC performance, so I don’t view it as trading EUR vs BTC. The Pref issuer Strategy Inc is the one putting that trade on.

[Nick 🐍 @BigSwingingNick]

@Z06Z07 @medolarkjelnick @saylor @Strategy I just did.

Buying at 12% and borrowing at 2% is not an FX trade, it’s a credit trade. So I’m not seeing the point of referencing the FX market size.

What am I missing?

[Nick 🐍 @BigSwingingNick]

@Z06Z07 @medolarkjelnick @saylor @Strategy I understand that the EUR instrument creates a cross currency basis trade which will lead to increased trading activity in all the prefs, is that what you were getting at?

[Nick 🐍 @BigSwingingNick]

@Z06Z07 @medolarkjelnick @saylor @Strategy Yes you are taking the currency risk, and different credit risk on the long leg with $STRE being junior to $STRC. It is not apples to apples, I would agree with you…don’t over complicate it and just buy the USD version

[Nick 🐍 @BigSwingingNick]

@Z06Z07 @medolarkjelnick @saylor @Strategy Margin rates are 200bps lower in EUR vs USD, your carry on the EUR trade would be 350bps higher with $STRE trading at par

[Nick 🐍 @BigSwingingNick]

@isabellasg3 @BTCisla @Mayakitaisla @ToneVays BTC Isla

[Club Orange @cluborange]

In the past few months, we’ve been shipping like psychos. Here's a little recap:

Recently Launched

📞 Voice Calls
🎤 Voice Messages
🌐 Public Event Pages
💬 Group Chats Description
📌 Pin Chats
📲 Referrals QR codes
💵 Fiat Balances
🗺️ Events Map
📅 RSVP

Coming Soon

🎥 Video Calls
🏙️ City Pages
🎟️ Ticketing

The future is Orange.

[Club Orange @cluborange]

Imagine stacking sats for 6 years… and never meeting another Bitcoiner! That was Dion, until he found Orange Pill App.

[Nick 🐍 @BigSwingingNick]

@timevalueofbtc @PubKey Thank you Nik! It was great meeting you in person

[Blockstream Jade @BlockstreamJade]

Trying something.

@grok In 60 minutes, pick one random person who likes this post to win a Blockstream Jade Plus.

[Christopher Bloomstran @ChrisBloomstran]

The CFA Institute is no longer the outstanding organization it was when I joined upon earning my charter 31 years ago. If you are a CFA charterholder and have not yet voted your proxy (deadline this Monday the 21st at noon Eastern) or may consider changing your vote, or are simply interested in an opinion as to how a once-great advocate for financial education, advocacy and ethics is failing a large proportion of its membership, please read on. Please also resend this message.

I’ll get to the important proxy vote and bad governance on display shortly, which I hope all charterholders take the time to vote, but first, many likely saw the CFA Institute’s Chief Marketing Officer “allegedly” embezzled nearly $5 million from the Institute from 2016 to 2024, including $150k for an engagement ring, and another $1 million from another employer. He was indicted on June 23 by the Manhattan DA. Despite immediate media coverage, the institute waited more than two weeks to address the disaster with its membership and on July 8 finally sent an incredibly tone-deaf email update from its President and CEO, Margaret Franklin, CFA, paid $1.4 million compensation by the Institute in 2024. The accused embezzling CMO was earning $500k annually. The message took zero accountability, other than suggesting it would do better.

As an institution that holds itself out as an exemplar of ethics, integrity, and that administers the CFA examination program, which focuses on accounting, financial statement analysis and ethics, among other subject matter, a failure to detect fraud over eight years is beyond a financial-controls black eye. It serves to destroy the CFA brand, already under assault from the way the organization sitting atop the membership and local member societies is managed and governed.

The CFA membership received another email message from President and CEO Franklin three days later on July 11 which encouraged the members to vote their proxies. They need a quorum. Franklin is an infrequent direct communicator. I find only a New-Year’s message over the past two years from her in my inbox. Franklin’s urge to vote notes, “By voting, you and or your colleagues around the world will be electing a chair, vice chair, and governors to serve on the Board, and additional proposals related to Board governance.”

The “additional proposals” the President and CEO FAILS TO DISCUSS are bylaw changes serving to grotesquely strip the membership and local societies of representation. The members and societies are the bedrock of the organization and for whom the President and CEO serves, and this year’s proxy initiatives are a perfect illustration of governance gone haywire. The proposals are an embarrassment to the Institute but more importantly to all 211,000 CFA charterholders globally.

Specifically, proposals 1a, 1c, and 1d shift the election of the Chair and Vice Chair from the membership to the current CFA Institute Board, concentrating power within the Board and diluting the perpetually diminished role that members and societies play in shaping the direction of their global association. The proposals erode membership democracy, weakening transparency and member engagement in governance decisions. I voted AGAINST.

Proposal 1e merges the Nominating and Governance Committees, restricting its composition to only current Governors. This removes multiple non-Governor perspectives, including two from the membership’s elected Presidents Council Representatives, PCRs. It is obscene that the current Board would introduce a proposal to self-select nominees to serve on the Board. Of course a one-sided, like-minded Board will work to perpetuate itself. Stunning. Between the four proposals the Board nominates itself and solely elects its Chair and Vice Chair. I voted AGAINST. 1/3

[Matteo Pellegrini @matteopelleg]

Guys, we have a problem. I only follow 3.5k Bitcoiners. 🥶

If you’re a Bitcoin Maxi, like and RT so I can follow you back.

[Nick 🐍 @BigSwingingNick]

@cluborange

[Nick 🐍 @BigSwingingNick]

@cluborange

[Nick 🐍 @BigSwingingNick]

@MAKS_Diogenes This guy couldn’t remember 12 words??

[Nick 🐍 @BigSwingingNick]

@curvenomics They have had some success in real estate, previously spun a REIT out of this CEF

https://t.co/uiEMo9eccj

[Nick 🐍 @BigSwingingNick]

@MountainDew #MTNDEWMAJORMELON #MyPromotionEntry 147

[el gato malo @boriquagato]

this is a telling & interesting story

upshot: lockdowns have caused a death spiral in cities like NYC. you cannot just "press pause" for 5 months

the restaurants, the theater, the city life itself dies

this is what we were warning you about in march

https://t.co/bpZgqPqlge

[Nick 🐍 @BigSwingingNick]

@ski_gor @Pat_AllDay @Mister_FiDi I doubt user error. User placed that exact order very often.

[Nick 🐍 @BigSwingingNick]

@TommyThornton Toyota likely has a larger real gross margin as well