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[Adam @AdameMedia]

BREAKING: 🚨 🇺🇸 🇮🇱 The FULL Jeffrey Epstein Interview with Steve Bannon.

Before it gets removed…

[Bitcoin for Freedom @BTC_for_Freedom]

Wow! Epstein explaining how money works:

[Ondo Finance @OndoFinance]

The NYSE is going all-in on tokenization.

The world's most iconic stock exchange just announced plans for 24/7 trading and instant settlement of tokenized securities.

“Tokenization has the potential to bring greater efficiency, transparency and accessibility to capital markets.” — Lynn Martin, President of NYSE Group

This validates what the entire industry has been building towards. When Wall Street's largest exchange embraces tokenization, trillions in traditional capital follow.

[Simon Taylor @sytaylor]

🚨 BREAKING: NYSE announces new tokenization platform.

Here's what they're building:

A completely new trading venue with:
• 24/7 operations (no market hours)
• Instant settlement (not T+1)
• Stablecoin-based funding (not bank wires)
• "Tokens natively issued as digital securities"

Not retrofitting the existing exchange.
Not adding blockchain to the back office.

An entirely new venue.

---

Think about what this means:

NYSE will run two exchanges.

The old one: 9:30-4:00 EST, T+1 settlement, bank wires.

The new one: 24/7, instant settlement, stablecoin rails.

They're not choosing between traditional and digital.

They're operating both in parallel.

---

How does this compare to others?

Everyone else is building infrastructure to tokenize existing assets:
• DTCC tokenizes existing custodied securities
• State Street tokenizes MMFs and ETFs
• Nasdaq amends rules for tokenized trading alongside traditional

NYSE is building a new way to bring equities on-chain AND the venue to trade them.

This puts them in competition with Figure's OPEN and Superstate.

Native digital issuance. Native digital trading.

---

Tokenized stocks enable a world where:

• Settlement happens on-chain
• Custody lives in wallets, not DTCC
• Trading never stops
• Capital formation happens in stablecoins

The question for every institution:

Are you digitizing your existing business or building the business that replaces it?

NYSE just answered: both.

---

#fintech #tokenization #infrastructure #digitalassets #stablecoins

[THE DIVIDEND DOMINATOR @TheAlphaThought]

Is this government theft?

[Haze @Hazeintel]

@unlimited_ls The parents should be charged for raising such assholes. I’m sick of the lack of responsibility

[Nyx @Nyxvoss]

@Hazeintel king of chill + love of my life 🫦

[Haze @Hazeintel]

@Nyxvoss

[Haze @Hazeintel]

@MufcFreQuency @UtdBloke_ He wasn’t needed for an easy 3-0

[Haze @Hazeintel]

@markgoldbridge United should have tried it against Grimsby Town. Maybe would have won

[Haze @Hazeintel]

@awkwardgoogle She’s already better than Man Utd’s keepers.

[Swan @Swan]

Lyn Alden just dropped a 2-hour masterclass with Tom Bilyeu to his 4.5M+ subscribers.

If you don’t understand what’s happening to money right now, you’ll wake up on the wrong side of history.

Here are 10 insights on where the system is breaking—and what comes next. 🧵👇

[Haze @Hazeintel]

Awesome Thread 👀

[Julien Bittel, CFA @BittelJulien]

I’ve been seeing a lot of chatter on X about “peak cycle” and how the economy looks late-cycle. So I wanted to tackle this head on and share a few thoughts of my own...

This is from the August 21st MIT publication:

A classic late-cycle economy typically has all the following ingredients:

✅ Manufacturing sentiment is extreme (think ISM ~60)
✅ Services sentiment is extreme
✅ Homebuilder sentiment is extreme
✅ Consumer confidence is high
✅ Worker confidence is high (JOLTS quits rate rising sharply)
✅ Investor sentiment is very bullish
✅ Small business confidence is high
✅ Job openings and hiring plans are rising
✅ Wage data and surveys show accelerating pay increases
✅ CEO confidence is strong and capex is booming

Now, I could add more to this, but when you score all of these inputs and turn them into a single timeseries, here’s what you get (chart 1).

Using data from ISM, NAHB, NFIB, BLS, AAII, The Conference Board, etc., US sentiment, when viewed as a complete picture, remains very subdued. We’re just not even close to the euphoric levels we see late in the business cycle, when everything listed above is stretched to extremes.

Peak cycle is when the ISM rolls over from 60+ to sub-50, inventories unwind, and demand cools. Supply and demand reset, inflation pressures ease, and the cycle eventually recovers out of the slowdown or recession – mostly depending on the extent to which financial conditions tightened during the cycle, particularly late on as central banks hike rates and drain liquidity.

However, based on this full set of indicators, the data is pointing to something very different. This does not look like an above-trend late-cycle economy. It looks much more like an early-cycle economy trying to build momentum.

Another really important factor, and a key reason we believe both the ISM and this sentiment composite will grind higher this year and into 2026, is the sheer scale of central bank easing via rate cuts.

Right now, nearly 90% of central banks are cutting rates. That is extraordinary, and on a forward-looking basis, it is a massive tailwind for the business cycle (chart 2).

By my playbook, the time to start talking late-cycle is when the teal line rolls over and begins to drop, as central banks turn to hiking rates to slow growth. Even then, there’s usually a nine-month lag before higher rates hit the real economy.

Right now, we’re just nowhere near that... in fact, the opposite is true.

To my earlier point, slowdown or recession is largely a function of how much financial conditions tighten late in the cycle. Oil prices are a big part of this equation. When oil runs 50% above trend, that represents a massive tightening and has almost always signaled recession, looking back to the early 1970s.

However, right now, we are nearly 20% below trend and still falling, which shows this component of financial conditions is still easing (chart 3).

Also, as I’ve pointed out many times in previous reports, when you look at Temporary Help Services, it has early-cycle vibes written all over it (chart 4).

Rising growth from deeply negative levels is an early-cycle dynamic. It tells you the economy is in recovery mode, not rolling over.

Late-cycle is the opposite: positive year-on-year growth that’s slowing, which reflects an overheated economy losing steam.

Why is unemployment still rising?

Because it lags the cycle. Jobs data is a six-month look in the rear-view mirror.

Here’s the thing: full-time hires are expensive. Benefits, pensions, overhead…

So what do businesses do first?

They typically increase overtime hours and bring in temp workers. Only when they feel confident do they finally lock in full-time staff. That way, they can scale without locking themselves into long-term payroll commitments.

So, this isn’t late-cycle. It’s early-cycle (growth up + inflation down = Macro Spring), soon transitioning to mid-cycle (growth up + inflation up = Macro Summer).

That’s how I see it, anyway...

[Haze @Hazeintel]

@TabishSaifi17 @scenesthatslap Mr Nice Guy is worth a watch

[Haze @Hazeintel]

👀

[ZachXBT @zachxbt]

NEW LEAK: Price sheet of 200+ crypto influencers and their wallet addresses from a project they were recently contacted by to promote.

From 160+ accounts who accepted the deal I only saw <5 accounts actually disclose the promotional posts as an advertisement.

[Haze @Hazeintel]

@not_rekt_11 This is what decline of civilization looks like

[Haze @Hazeintel]

👀👀

[Gemini @Gemini]

Prepare your bags.

[Haze @Hazeintel]

@CrazyVideosOnly Disgusting

[Haze @Hazeintel]

@PLforIndia @ManUtd @ManCity @LFC @SpursOfficial Reijnders for sure. He was unstoppable

[Haze @Hazeintel]

@City_Xtra So bummed Cherki isn’t starting