President Donald Trump said he canceled scheduled US strikes against Iran planned for Thursday evening.
“Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening,” Trump said in a post on Truth Social.
“Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others,” he added.
“The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly,” Trump said.
https://t.co/MeWGybX4E2
Very important point: SoftBank was pledging *all* of its OpenAI stock (worth $60bn+ on paper) to get a $6 billion margin loan. Banks turned it down due to concerns about the value of OpenAI stock. Banks clearly do not think OpenAI is worth $852 billion.
https://t.co/B9ilbd043M
It’s not that I *want* him to collapse.
It’s that when you dive deeper into the ponzi, I believe Strategy inevitably has to eventually deleverage to survive.
They got greedy and made themselves vulnerable.
Worst case scenario is they don’t deleverage now, things bounce for a bit, they grow larger and make the fallout even worse when it eventually does happen.
E.g. most people agree that FTX collapsing when it did saved the industry from something that could have been worse if they continued to act as reckless as they were and grew even larger
Do you realize why Strategy was forced to buy back $1.5B of converts for $1.38B (a nice little discount)?
In the past, these converts would be above their put price and just become common shares of MSTR, which was a win for the lender and a win for Strategy because they didn’t have to find cash to repay the debt.
Their converts are now so far out of the money they have no hope of seeing the majority of them actually convert.
This is something they’ve never had to do at this scale before.
And they have another $6B of these notes they have to pay off by the end of 2028.
This is cash that otherwise could have been used to pay off dividends to preferred shares had the stock performed better and the premium not seen such compression already.
Now that cash that would have been available has to be funded from somewhere else to keep the pref dividend payments alive… and the best options left are selling Bitcoin or more common MSTR shares at a compressed premium.
Both are dilutive to MSTR holders.
Bitcoin per share (BPS) - which is tracked by Strategy using BTC Yield - went from being their “True North” to a “narrow KPI” in exactly one month.
Insane.
BREAKING: Massive violent explosions and tremors now reported in Bahrain in a new wave of Iranian strikes, with residents saying the whole ground shook and no sirens sounding this time.
here are some facts about California. some of this is hard to believe.
first of all, it's important to understand the concept of "ballot harvesting," which is perfectly legal in CA. this refers to a situation where someone completely unaffiliated with the voter can collect and submit their ballot for them.
this flow is completely legal:
- a homeless person arrives in LA, where they are eligible for cash assistance, SSI, food stamps, healthcare through medical, and an array of other taxpayer-funded services
- they are registered to vote by an NGO (many such NGOs exist and explicitly do this).
- they do not have to provide a residential address or any proof of residency to vote. they only have to provide a mailing address, which can be anywhere (church, NGO HQ, homeless shelter). their home address can be "a park" or "an underpass".
- their ballot is mailed to the homeless shelter (or whatever address the NGO elects for them)
- the only verification done for the mail-in ballot is "signature verification" and uniqueness (only one vote per person is counted theoretically).
- the signature can be an X. if they register with an X, they can sign with an X. that is sufficient to pass verification. signature verification is also deliberately loose. the signature does not have to be a perfect match.
now consider the hypothetical scenario, which is fraudulent, but virtually impossible to detect:
- a homeless person cycles through the LA system. they get registered with their mailing address listed as the NGO HQ or homeless shelter
- they "sign" their registration with an X or nondescript, easily replicable signature
- they disappear. never seen again. or they exist, but it doesn't matter. they don't get purged from the voter rolls for 4-8 years typically.
- the address where they registered receives their ballot for several cycles
- operatives are aware that they have X amount of votes to make up. they fill in X many thousand mail-in ballots themselves. the ballots are manually postmarked (permitted). they forge the signature to match whatever signature (could be an X) was submitted upon registration
- ballots can be accepted even if they are postmarked at 11.59 pm. polls closed at 8 pm. (you would need an accomplice who is a USPS employee)
- the only fraud checks are de-duplication (if the homeless person through some miracle voted in person, only one of their ballots would be counted) and signature verification
- because very few of the homeless people in question would have voted in person, this gives NGO operatives tens of thousands of possible mail-in ballots to submit unilaterally.
the big problem is that there is NO way to detect this type of fraud. NGOs that register homeless people to vote exist. that isn't a secret. ballot harvesting is fully legal. voting by mail is encouraged. signature verification is as loose as possible. de-duplication doesn't solve anything, since few homeless people vote in person. and no one in power locally is going to spend political capital on rooting out such fraud, since they are all wholeheartedly committed to "voting rights".
in a situation where fraud is undetectable, the absence of hard proof of fraud is not evidence that no fraud exists.
Raman has gained around 20k votes since election night. She is around 3k votes ahead of Pratt now.
there are over 72 thousand homeless people in LA county.
It has been an insane week for crypto.
- Bitcoin hit a new yearly low of $59,127, wiping out $300 BILLION in market cap.
- $ETH dropped to $1,500 for the first time in a year, erasing $60 BILLION.
- Bitcoin ETFs sold $1.72 BILLION worth of BTC, the second-largest weekly sell-off since launch.
- Over $5.7 BILLION in long positions were liquidated in just 7 days.
- Saylor and Tom Lee’s combined unrealized losses hit $22.5 BILLION.
- Zcash crashed -60%, wiping out $60 BILLION after a critical bug was discovered.
"What if there is an exploiter holding significant ZEC supply who may now be dumping and we will only learn after the fact"
This is a problem ofc
In BTC they call this problem "Michael Saylor"
Sentiment couldn't be worse, everyone is dying
Usually these are the times in which I'd get ready to buy a lot
But nowadays I'd have to worry about 5 Saylor ponzis 100 ETFs and get AI exploits while doing it
Seems like such a hassle, give back the simple times
The way to understand the ZCash bug is it’s not infinite mint of ZEC itself. It’s more like the shielded pool (Orchard) could become insolvent. Think of it more like the KelpDAO hack for ETH.
Very little reason not to proactively unshield any ZEC today. Being early to the exit is always better in a bank run. Consider Orchard burned, and don’t re-shield until there’s a new pool with a clean history
IRGC statement:
- The US attacked Qeshm Island
- In response, Iran has carried out "precise and intensive missile strikes" on US bases in Kuwait
- Further US aggression will be met with a "seismic, crushing, and decisive response"
We are at risk of seeing a 2008-style crisis hit crypto. All at once.
Prediction markets facing insolvency over Resolv exposure on the MicroStrategy bet. CEXs out of Insurance Funds on manipulated tokens, force-closing profitable trades to avoid paying out. MicroStrategy itself running what is effectively a leveraged ponzi on a single asset, one bad quarter away from reflexivity flipping against it.
Speculation always shows its cracks in the middle of a bear market. Uncontrolled speculation creates catastrophic consequences. Every single time.
This is exactly why the old SEC under Gary Gensler, for all its flaws, was partially right. Unregulated leverage, unaudited token supply, zero accountability.
The industry begged for freedom, and the moment Trump sat in the White House, it built a house of cards with it…
Why is crypto not going up while everything is?
Because a large majority of you cunts spent the last cycle promoting garbage negative sum meme coins to newcomers
Now those people hate crypto and your meme coin is worth zero regardless while some scamming cunt drives a new lambo
Bitcoin treasury companies are all the rage this week. MSTR, Metaplanet, Twenty One, Nakamoto.
I think they're toxic leverage and the worst thing which has ever happened to bitcoin & what bitcoin stands for. In the right conditions, here's the mechanism of how this blows up
1/n
These are the four most important things to track in crypto rn. If you arent, then you shouldnt be touching it.
-STRC continues to fall below $100 with an unsustainable dividend mechanism that has the potential to form a doom loop in the asset itself
-MSTR is at 1.2 mNAV. I expect it to fall BELOW NAV...that will be closer to a bottom
-ETFs continue massive outflow to the tune of billions
-Coinbase premium remains STRONGLY negative
Meanwhile, equities/tech are ripping as liquidity leaves crypto due to all of the above in favor of AI/Robotics
I warned about this last month when we were at 83k and the replies were incredibly toxic.
Interesting that everyone seems to have forgotten that just a year ago Musk went in and destroyed a lot of guardrails in the SEC
Almost like this was the plan all along………..