Brian Pemble

Ex-FB eng leadership. Risk pragmatist. Strong opinions, weakly held.

[Brian Pemble @bpemble]

Weekend vibes

[GSR @GSR_io]

"Trillions will be tokenized."

This week's market update is one you don't want to scroll past with data any quick analysis on everything from tokenizing trillions and Saylor selling to ETH ETFs and meme markets.

Authors: @slatersanter @carlos_guzman

Link in the next post.

[Bitwise @Bitwise]

"Hello, I'd like to report an explosion."

[Brian Pemble @bpemble]

Mood today

[Brian Pemble @bpemble]

@ManningCapital_ @forummarkets Great summary, thank you

[FunFactsOnStocks @funfactonstocks]

🚨 $FRMM is trading at an absurd 20% of NAV. We are ONE catalyst away from an explosive rally. 📈

Even a 100% move from here leaves it deeply undervalued at just 40% of NAV. The asymmetry is massive.

To unlock this, @forummarkets just needs to step up and prove any of the 3 simple things to the market:

1️⃣ Kill the FUD: Shut down the fraud/scam narratives being pushed by @ertuchinski, @capybaraReborn, and @capybaraReform once and for all - instead of posting next-to-useless articles about tokenization.

2️⃣ Defend the Stock: Show real commitment to the share price ASAP - cancel the ATM, initiate a buyback, or DO some insider buys.

3️⃣ Secure Validation: Ink a partnership with a reputable, tier-1 firm.

The setup is right here. Management just needs to execute. 💸👇

Execution does not mean sit around and hope market will care.

[Brian Pemble @bpemble]

@billgrass1 Maybe you should sell?

[Brian Pemble @bpemble]

7 months later: "[Forum has] eliminated direct Ether price exposure through ETH sales and derivative hedging of its remaining position"

Buy high sell low, right fellas?

[Forum @forummarkets]

If ETH has a million fans, then I am one of them.

If ETH has ten fans, then I am one of them.

If ETH has only one fan, then that is me.

If ETH has no fans, then that means I am no longer on Earth.

If the world is against ETH, then ETHZilla is against the world.

[Brian Pemble @bpemble]

@billgrass1 The real driver is proving demand and PMF through the sales pipeline, and better alignment with shareholder value would go a long way. Clear win-win that's being left on the table.

[Brian Pemble @bpemble]

@billgrass1 Yes, that would be overstating it IMO. It's possible to be unhappy with management without being alarmist about "circling the drain".

[Brian Pemble @bpemble]

@VivekVentures @digitalartchick First 50 got me a pity clap at my 4th grade talent show

[Brian Pemble @bpemble]

@YeolChoeju716 @forummarkets @ManningCapital_ @JSKS_Invest 20 days to earnings. Then we’ll see what’s real.

[Brian Pemble @bpemble]

@billgrass1 @ManningCapital_ @capybaraReborn @Coins @forummarkets @fundstrat The better outcome at this price level is share buybacks IMO

[Brian Pemble @bpemble]

@Coins @YeolChoeju716 @DamianBrad24715 @ManningCapital_ @billgrass1 @capybaraReborn @forummarkets Well said

[Brian Pemble @bpemble]

@capybaraReborn

[Brian Pemble @bpemble]

@Etherealize_io Etherealize's success == Ethereum's success, 🤝

[Altcoin Daily @AltcoinDaily]

ARK Invest Big Ideas 2026:

"The assets on Ethereum now exceed $400 billion. $ETH remains the preferred blockchain for on-chain assets."

[Vivek Raman @VivekVentures]

ETH is at the same adoption inflection point BTC was at last cycle.

BTC will do great as liquidity enters the system.

ETH will do even better as Ethereum becomes the best blockchain to do business — and ETH becomes a productive treasury asset.

$15,000 / $200,000 in 2026.

[Brian Pemble @bpemble]

Ineptitude

[Forum @forummarkets]

As part of redeeming our outstanding senior secured convertible notes, ETHZilla sold 24,291 ETH for approximately $74.5 million. We plan to use all, or a significant portion, of the proceeds to fund the redemption. The dashboard below excludes cash on the balance sheet which will be used to close on the early redemption on 12/24 and 12/30.

In the future, the Company believes its value will be driven by revenue and cash flow growth from our RWA tokenization business. As such, we are discontinuing the mNAV dashboard on our web site effective today but intend to continue providing periodic balance sheet updates. We will also continue to report any material changes to our ETH treasury holdings and/or share count in our SEC filings and social media posts going forward.

[Brian Pemble @bpemble]

What a colossal fumble. An unforced error of biblical proportions. #ethz