This is about using your money as an extension of your beliefs, values, and opinions. Money isn’t just a tool—it’s information and value in action.
Spending money freely is one of the purest ways to signal in the market. When you actively choose not to spend money on something you disagree with, you’re exercising your freedom of speech. It’s a deliberate and impactful way to communicate your values.
And let’s be clear: this is the opposite of censorship. It’s not about freezing accounts or blocking transactions. It’s about choice—your choice—driving change through where and how you allocate your resources. That’s real freedom.
We've let all the law firms we work with know, that if they hire anyone who committed these bad deeds in the (soon to be) prior administration, we will no longer be a client of theirs.
Senior partners at these law firms seem unaware of the crypto industry's position on this.
For instance, Milbank recently messed up and hired Gurbir. We don't work with them now (and never will while he works there).
It's an ethics violation in my book to try and unlawfully kill an industry while refusing to publish clear rules. If you were senior there, you cannot say you were just following orders. They had the option to leave the SEC and many good people did. It was not a normal SEC tenure.
They can go work in other areas (I don't believe in permanently cancelling people), but we as an industry should not be putting money in their pocket after the abuse. Let your law firms know that hiring these folks means losing you as a client.
$GLXY A lot of people will stop at the headline: big Q4 loss.
But if you actually read the numbers, the story is very different.
Galaxy’s Q4 loss is almost entirely mark-to-market, driven by a ~24% drop in crypto prices. That’s accounting noise, not operational failure.
Under the hood: • $505M adjusted gross profit in 2025 (record) • $247M adjusted EBITDA from core digital asset activities
• Asset Management & staking platform at $12B, with $2B net inflows in a down market
• Balance sheet strengthened to $2.6B in cash & stablecoins
And the part the market still underestimates: Galaxy is no longer just a crypto financial platform.
The Helios data center pivot is very real: • 1.6 GW approved power capacity • 526 MW already contracted with CoreWeave • $1B+ expected annual revenue at full capacity • First deliveries starting H1 2026
This is a company transitioning from cyclical crypto exposure to institutional infrastructure across crypto and AI.
Short-term volatility is obvious. Long-term execution is quietly improving.
Sometimes the opportunity is hidden in the footnotes, not the EPS line.
$QQQ $CIFR $IREN
https://t.co/uGmTfCgFGY
A timely reminder from Ricky Gervais.
Free speech is the right to criticise any ideas including religion.
Blasphemy style protections are ludicrous. That an all powerful deity must be protected from having its feelings hurt.
Ideas do not have rights! Only people do. Including the right to criticise any belief system without censorship.
Offense is the unavoidable price of true freedom.
‘Just because your offended doesn’t mean your right.’
We are at the same prices for $BKKT as before Mike Alfred joined the team.
Most likely a strong buy. #NotFinancialAdvice
And that’s the extent of my technical analysis.
The GrapheneOS team has said that “France isn’t a safe country for open source privacy projects,” pointing to what it describes as the expectations of encryption backdoors.
Last week, it announced it has removed all servers from France.
https://t.co/eLRly3aJes
1/5
Suppose that once a week, ten men go out for beer and the bill for all ten comes to £100.
If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay £1.
The sixth would pay £3.
The seventh would pay £7.
The eighth would pay £12.
The ninth would pay £18.
And the tenth man (the richest) would pay £59.
So, that’s what they decided to do.
The ten men drank in the bar every week and seemed quite happy with the arrangement until, one day, the owner caused them a little problem.
“Since you are all such good customers,” he said, “I’m going to reduce the cost of your weekly beer by £20.”
Drinks for the ten men would now cost just £80.
The group still wanted to pay their bill the way we pay our taxes.
So the first four men were unaffected.
They would still drink for free but what about the other six men?
The paying customers? How could they divide the £20 windfall so that everyone would get his fair share?
They realized that £20 divided by six is £3.33, but if they subtracted that from everybody’s share then not only would the first four men still be drinking for free but the fifth and sixth man would each end up being paid to drink his beer.
So, the bar owner suggested that it would be fairer to reduce each man’s bill by a higher percentage.
They decided to follow the principle of the tax system they had been using and he proceeded to work out the amounts he suggested that each should now pay.
And so, the fifth man, like the first four, now paid nothing (a 100% saving).
The sixth man now paid £2 instead of £3 (a 33% saving).
The seventh man now paid £5 instead of £7 (a 28% saving).
The eighth man now paid £9 instead of £12 (a 25% saving).
The ninth man now paid £14 instead of £18 (a 22% saving).
And the tenth man now paid £49 instead of £59 (a 16% saving).
Each of the last six was better off than before with the first four continuing to drink for free.
But, once outside the bar, the men began to compare their savings. “I only got £1 out of the £20 saving,” declared the sixth man. He pointed to the tenth man, “but he got £10!“
“Yeah, that’s right,” exclaimed the fifth man. “I only saved a £1 too. It’s unfair that he got ten times more benefit than me!”
“That’s true!” shouted the seventh man. “Why should he get £10 back, when I only got £2? The wealthy get all the breaks!”
“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”
The nine men surrounded the tenth and beat him up.
The next week the tenth man didn’t show up for drinks, so the nine sat down and had their beers without him.
But when it came time to pay the bill, they discovered something important – they didn’t have enough money between all of them to pay for even half of the bill!
And that’s how it works.
Tax them too much, attack them for being wealthy and they just might not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.
For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible.
One of my best friends is extremely skeptical when it comes to Bitcoin.
A couple days ago he told me he was gonna read my book... but here's the thing... he has no idea Blood of the Bourgeoisie is about Bitcoin.
That was the point, after all. I wanted a story I could give to someone outside of our little internet bubble that they would love even if they don't hold BTC.
But I always envisioned giving this thing to someone who is indifferent... not someone who has been so actively critical for YEARS.
Anyways... I've been over here nervously waiting for the last 48 hours.
Would he hate it?
Think me an idiot?
Almost certainly.
It'll only take a handful of chapters before he realizes Bitcoin is such a central topic to the entire story. He'll surely stop reading because I'm clearly part of the orange ponzi cult.
Well.... I woke up to a text from him.
He stayed up super late last night to finish it and then sent me a message to say that he thought it was FANTASTIC.
He and I will be hanging out at a friends wedding today.
I'll report back with more of his thoughts 🫡