Chris Randle

Angel Investor and Managing Partner of C2 Capital Management. Provides capital & mentoring to #FinTech #AlternativeData #Traders #AI #Crypto #Blockchain $CME

[Chris Randle @crandl]

Illinois spent years trying to pass transaction taxes on futures trading (HB 106, HB 1023). The market's response was simple: move the business elsewhere.

Those bills failed.

Now Springfield is trying again, except this time it's crypto. They stuffed and voted on a tax while no one was watching.

Tax the digital version of an activity while leaving the traditional version alone, and don't be surprised when companies, capital, and jobs leave the state.

This bill gets vetoed, gets crushed in court, or accelerates Illinois' exit from the next generation of financial infrastructure - #tokenization of RWAs and #stablecoins and #blockchain payments and #defi

The outcome is the same: Illinois loses.

[Getty Hill @getty_hill]

This is insane.

Illinois introduced and passed a new Digital Asset Tax that is 0.20% of the value of transactions paid by individuals, without anyone knowing, by purposefully leveraging the legal system so as few people as possible would have a chance to notice.

They created bill SB3019 on January 29th, which was supposed to be an Agricultural Finance bill. It was initially passed in the Senate unopposed on April 14th.

Then, on May 31st, in the House, a floor amendment replaced the entire bill, adding 1,623 new pages, including the Digital Asset Tax Act.

The House passed the bill on the same day, and the Senate passed it the next day.

The bill currently sits on the governor's desk for his signature.

If we can draw enough attention to this brazen activity and its ability to cause substantial harm to individuals and businesses with ties to Illinois, maybe we can get the governor to consider vetoing this abomination.

[qm @quantymacro]

some have asked me about my time in Renaissance Technologies. although I’m retired I can’t really say much due to NDA, but I have an unseen interview snippet from my ex-colleague Nick (hope the kids are doing well mate) that I’m comfortable to share. a lot of alpha in there

[Chris Randle @crandl]

Traders are waiting for the #CME futures markets to open at 5:00 CST. The early call is for stocks to open down by 1.5-2%.

#Oil watchers also expect crude oil $CL futures to gain 5% or more, most likely due to Iran's closure of the Strait of Hormuz. JPMorgan's chief commodity strategist, Natasha Kaneva, recently outlined this in a "worst-case scenario". The note cautioned that a severe outcome could send oil prices into the $120-$130 per barrel range. Ships set to cross the Strait of Hormuz made a 180 degree U-Turn at ~8:15 AM CST Sunday morning, about 10 minutes after the announcement by Iran’s parliament.

$BTC and ETH spot markets are the only markets open at the time of writing and are lower by 4% after the U.S. bombing of alleged Iranian nuclear sites.
#markets @zerohedge

[Chris Randle @crandl]

Mind blown by these numbers:

Circle ($CRCL) market cap: $40B $USDC AUM: $60B $CRCL mkt cap as % of USDC AUM: ~66%

Compare that to TradFi giant JPM: JPM market cap: $761B JPM AUM: $4.3 TRILLION JPM mkt cap as % of AUM: ~18%

The market is pricing something BIG for stablecoins. Your thoughts? #CryptoTwitter #Fintech #Circle @zerohedge

[Wall St Engine @wallstengine]

The TACO trade is the new Trump trade

TACO = "Trump Always Chickens Out."

[Chris Randle @crandl]

"HUGE! 🚀 Straight from the WHALE himself, @realDonaldTrump! He said, 'These $TRUMP coins? 💎 They're gonna MOON! 🌙 Bigger than any deal, believe me!' 📈 This ain't financial advice, but it's gonna be YUGE! Free White House tour to the b_gholders💰 #TRUMPCOIN #SATS #ToTheMoon #MAGA #Crypto

[Chris Randle @crandl]

@TripleDTrader Totally get that feeling. Those bear market rallies can be tempting! But history (see chart) shows they can be explosive, even if short-lived. Staying nimble is key. Don't want to miss the rebound, but also gotta protect gains.

[Chris Randle @crandl]

Looking at history: The biggest Nasdaq 100 one-day rallies are often in bear markets (see top 20 list). Today's rally is HUGE. If it holds, we're talking top 10 territory. Buckle up! 📈 #markets $ES $QQQ @zerohedge

[Chris Randle @crandl]

@ThinkingUSD For a clean, efficient experience, I'd strongly suggest checking out https://t.co/reelzNXHCc. It's been really impressive for fast swaps ,low fees and its user-friendly interface. Worth a look! #DeFi #OnChainTrading

[Chris Randle @crandl]

Stocks can trade at zero in theory, but practical and regulatory factors halt shy of that, or trading ends before they reach that point, and they file for bankruptcy.

However, my fav trade ever, Crude Oil futures can trade at ZERO or NEGATIVE -Apr 2020, May 20 WTI futures contract famously closed at -$37.63 /barrel.

[Rene Sellmann @ReneSellmann]

8/ Biggest risk? The unknown unknown.

Markets panic over the obvious (inflation, politics).

But Chanos reminds us: the real shock is what we don’t see coming.

A black swan.
A tech breakthrough.
A sudden collapse.

“The stuff you don’t see coming is what gets you.”

[Chris Randle @crandl]

Just getting started? We aren’t even close to the average intra-year drop yet.

@MikeBellafiore @TheOneLanceB @steenbab
@mrtopstep @AnthonyCrudele @Topstep
@LindaRaschke @paxtrader777 @tradertvshawn
@40in20out @ramahluwalia

[Peter Mallouk @PeterMallouk]

The S&P 500 is down over 8% from its February closing high. Over the last 75 years, the average intra-year market drop has been close to 14%. If you are overly stressed out about your portfolio today, the stock market isn’t for you.

[Chris Randle @crandl]

Elon has a humanoid algo for that now...

[40in20out @40in20out]

Is the #PPT President's Working Group on Financial Markets still gainfully employed? Asking for a friend.

[Chris Randle @crandl]

The circus is in town, and the FOMO is reaching highs. I do believe #AI and #robots and #crypto are the future, but some of these #markets are going high too fast

[Michael Saylor @saylor]

60 public companies can issue equity to buy #Bitcoin.

[Chris Randle @crandl]

Tether has been under microscope by US regulators since it launched in 2014. No surprise here on ongoing investigation.

[Steven Spencer @sspencer_smb]

CEO of Tether says no indication firm is under investigation.

[Chris Randle @crandl]

YEAR-END STOCK & FUTURES MARKET OBSERVATIONS
What we are watching going into year-end:

~Election.
~The Fed.
~Israel/Iran conflict.
~Possible end to Ukraine/Russia war.
~China stock market and economic stimulus.
~Bitcoin reaction to $70k
~Any uptick in inflation.
~Tax selling in beaten-up names.
~Oil prices.
~EARNINGS is the driver of setup in stocks for the next quarter and whether the market is in a healthy environment. Earnings gap strength so far, and earnings season just started.
@ToppingCapital @yieldoppression @ramahluwalia

[Chris Randle @crandl]

Some of the questions in the $SMR short report may make potential clients and partners nervous. It's a big risk for an exec to partner at $AMZN, $MSFT, or $ GOOGL and take that risk with possible questionable practices. We will see how MKT adjusts in the near future. https://t.co/59w4Ujv1B4

[Chris Randle @crandl]

Equity market microstructure primer.

[Chris Randle @crandl]

The U.S. Debt Bomb: The Ticking Time Bomb Nobody Wants to Talk About

Imagine the federal debt as a giant, ticking time bomb. It's sitting right there, in plain sight, but somehow, our presidential candidates seem to be playing a game of "Let's Pretend It Doesn't Exist."

Both presidential candidates are talking about economic policies, taxes, and spending, but when it comes to the mountain of debt piling up, it's like they're suddenly struck with selective mutism. Maybe they think if they ignore it, it'll just go away.

As our favorite event-driven analyst, Kuppy, would say, "They just missed their target by a whopping $1 trillion. If this were a stock, it'd be down 40% before the market even opened."

It's time for someone to take this debt seriously before it's too late. The canary in the coal mine is singing at the top of its lungs, and it's time to pay attention. @KamalaHarris @realDonaldTrump #markets