Anna

I don't want to define myself, nor do I want to be defined. Watch the mood update, watch the fate approach.

[Charlie Bilello @charliebilello]

Bitcoin is now down 53% from its peak last October, its biggest and longest drawdown since 2022. $BTC

[Zoe🔶 @zoetoshi]

oh fuck

[Poseidon @CryptoPoseidonn]

$BTC will slowly grind up to $70k+ in July, trade sideways between $60k-$70k until September, will find a bottom by October, and trade above $80k before 2027.

Bookmark this.

[Bull Theory @BullTheoryio]

BREAKING.: Biggest privacy token $ZEC crashed over -50% in the last 24 hours and wiped out $5 Billion from its market cap.

The flaw was hidden inside Zcash's Orchard privacy pool since May 2022 and remained undetected for nearly 4 years despite multiple security audits.

Security researcher Taylor Hornby reportedly used Claude Opus 4.8 AI model to build a working proof-of-concept that successfully generated counterfeit ZEC in local testing on May 29.

Although the bug has now been patched on June 2, The issue is that Zcash's privacy design makes it impossible to know if any fake ZEC was minted before the fix. Unlike Bitcoin, where anyone can verify the supply, Zcash's privacy design makes it impossible to audit whether fake coins were secretly minted before the fix.

The team denies any fake ZEC was minted, but traders are selling on the fear alone. Imagine someone secretly adding extra chips to a casino, but because of the way the system works, neither the casino nor the players could tell which chips were real and which were fake.

Shielded Labs is exploring a proposed Network Upgrade to allow anyone to verify the integrity of Zcash supply.

[Anna @chronicles_anna]

Today’s yoga class is fancier than the palace itself 💁‍♀️ #VanityCheck

[Leading Report @LeadingReport]

JUST IN: UK PM Keir Starmer reportedly preparing to resign after crushing election results.

[PmAmTraveller @pmamtraveller]

20-year decomposition of a 200-foot-long art installation named Hase (German for "hare") on the Colletto Fava mountain in Piedmont, Italy.

[Anna @chronicles_anna]

Who’s up for a game? 🏓 #CourtChallenge

[George Noble @gnoble79]

This is the most OUTRAGEOUS deal I've seen in my 45 years on Wall Street.

SpaceX just disclosed Musk's new compensation package:

He gets up to 200 million super-voting shares if SpaceX hits a $7.5 trillion valuation, establishes a permanent human settlement of at least ONE MILLION people on Mars, and deploys roughly 100 terawatts of space-based computing power.

Let me put the 100 terawatts in perspective:

The entire electricity generation capacity of the United States is around 1.2 terawatts. The comp plan asks Musk to build more than 80x America's entire power grid... in orbit.

This is a science fiction screenplay that somehow landed in front of the SEC.

But here's why it actually matters for your portfolio...

The S-1 reportedly claims a $28.5 trillion total addressable market, with over 90 percent attributed to AI. CapeFearAdvisors flagged this one cleanly: when Palantir went public, it disclosed a $119 billion TAM and the SEC reviewed and accepted it.

SpaceX is claiming a market roughly 240x BIGGER.

Now let's talk about what is actually being sold here:

Reported 2025 revenue is approximately $15.5 billion. Starlink delivers around $11 billion of that with healthy margins, and the launch business is genuinely dominant. The problem is xAI - the AI piece doing all the heavy lifting in the trillion-dollar valuation pitch.

xAI generated just $210 million of revenue in the first 3 quarters of 2025 while burning through $9.5 billion in cash.

Ben Brey and Rupert Mitchell - a former Fidelity portfolio manager and a former head of equity capital markets at Goldman and Citi between them - ran a serious discounted cash flow on the actual operating businesses and arrived at roughly $400 billion. Lawrence Fossi covered their work recently and the math holds up.

The IPO is being marketed at $1.75 TRILLION.

The gap between what these businesses support and what Musk is asking the public to pay is roughly $1.35 trillion of pure narrative.

Then layer on what we just learned last week...

The New York Times investigation revealed Musk personally borrowed $500 million from SpaceX between 2018 and 2020 at rates as low as 1%, while bank prime rates sat around 5%. The same SpaceX has been used to bail out SolarCity, prop up Tesla during cash crunches, and absorb xAI when the AI losses became unmanageable.

This is the same playbook he's run for two decades.

Use a privately controlled entity as a personal piggy bank, and when the bills come due, find new investors to absorb the losses.

The IPO is structured to keep that game going FOREVER.

The Texas reincorporation strips away Delaware's fiduciary protections. Controlled-company status on the Nasdaq eliminates independent board requirements. And retail is being offered up to 30% of the offering (3x the normal allocation) because the institutions who actually do the math are quietly stepping away.

Here is the part that finishes the case for me:

Roughly $40 billion of the IPO proceeds are already spoken for before a single dollar reaches operations. About $23 billion retires SpaceX debt. Another $17 billion retires the high-interest debt sitting on xAI and X.

This raise is not funding the future. It's just plugging existing holes that retail investors will now own.

In my 45 years I've never seen a deal where the comp hurdle is colonizing another planet.

I've never seen a disclosed TAM that exceeds verified comparables by two orders of magnitude.

I've never seen a company asking the public to fund the retirement of debt incurred by separate private entities controlled by the same individual.

Every red flag I've watched precede a major bust over four decades is sitting in this prospectus, in plain sight.

The Tesla mispricing is being repeated on a far larger scale.

And this time the bag is being handed directly to retail.

Don't be the one holding it.

[Anna @chronicles_anna]

Breathe in nature, enjoy the moment 🍃🚴‍♀️ #Cycling #FreshAir

[HJB News @HJB_News__]

Apparently this is footage on French beaches last night of migrants boarding boats to get over to the UK. Was the £662 million spent a few days ago to stop this money well spent?

[Piers Morgan @piersmorgan]

If President Trump wants to take the Falkland Islands away from Britain, then we must reclaim the United States.
Perfect way to celebrate the 250th anniversary of American Independence.
King Charles can announce it to Congress next week.

[Anna @chronicles_anna]

Good weather, and the sheep understood the assignment. 🐑☁️

[Anna @chronicles_anna]

Summer hasn’t officially started yet, but my fresh little table already has. 🌿✨

[Anna @chronicles_anna]

Saving today’s good mood in this one photo. 📸

[MARMOT @Web3Marmot]

🚨 SOMETHING VERY STRANGE IS HAPPENING

S&P 500 just hit a new all-time high of $7,000.

Right in the middle of the worst energy crisis in decades.

But almost nobody is talking about the real reason.

The market is pretending the crisis is over.

But the Strait of Hormuz is still closed. Oil is above $90.

While the real economy suffocates, the index is being pumped to create exit liquidity for smart money.

The gap between the chart and reality is dangerous.

I've seen this movie before:

When the index flies during an energy shock, the drop will be vertical.

Remember, I've called every major turn for the last 10 years, including the exact $16K bottom three years ago and the $111K top in October.

Turn on notifications. When the real bottom forms, I'll call it here publicly, like I always do.

[Barchart @Barchart]

S&P 500 relative to M2 Money Supply 🚨 Dot Com Bubble vs. Now 😱👀

[Anna @chronicles_anna]

the sun understood the assignment 😌

[Fabrizio Romano @FabrizioRomano]

🚨 Bayern’s Uli Hoeneß: “I'd say Harry Kane is worth €150m. But then you see Alexander Isak cost €150m to Liverpool...

…if Isak is worth 150 million, then Harry is worth 250 million euros”, told Kicker.

[PV Sindhu @Pvsindhu1]

Some rivals become part of your journey forever. Carolina was one of them.

We first played each other when we were 15 or 16 year old girls in the Maldives, and from then on we went on to share so many battles.

To be honest, you were also a complete pain on court. The constant shouting, the intensity, the little tricks, they would get to anyone. But your skill, speed and fighting spirit were second to none.

People remember the big matches and even the ugly spat we had in that third set over picking the shuttle. I’ll admit I was completely infuriated that day.

But a few months later we sat across from each other over coffee in Madrid, talking and laughing, and in that moment there was nothing but respect.

That’s the Carolina I’ll always remember.

I’ll also always be grateful for the incredible camaraderie our generation built. Our batch of girls made women’s singles such a special place to compete in, and I honestly don’t know if badminton has seen something like it before or will again.

Thank you for every battle, every lesson and most of all the friendship.

I wish you the happiest retirement, Carolina 🤗

Badminton will miss you.
And so will I ❤️

@CarolinaMarin