@KobeissiLetter The TGA isn't a war chest; it's a cash balance refilled with issuance. Buy long bonds, refill with bills, & you've done a maturity swap with extra steps β shortening the debt profile, pushing refi risk out a year. Hence the QE-ish read, the gold bid, & the shell-game accusations.
We're continuing to support @bonzo_finance and the teams working through today's incident.
@SUPRA_Labs has acknowledged the oracle verification exploit and deployed a fix to the affected contract on Hedera mainnet and are working with security experts to further analyze the attack. Bonzo Lend's own contracts functioned exactly as designed, the failure occurred upstream, in the oracle layer.
We'll keep supporting the teams until there's a clear path forward for the community.
Full incident report: https://t.co/u3dtYsyowH
Live status: https://t.co/80OP7nHtfV
BREAKING: Midtown Manhattan high rise evacuated after construction workers discover buckled columns ... sagging floors and falling bricks. 42nd & 43rd streets near 2nd avenue closed as DOB assesses the danger.
@adamtaggart He is building a buffer from selling the asset that underpins the whole structure, into a falling market, while raising the dividend rate, which increases his obligation. He is buying time hoping BTC price will rebound!
A gutsy gamble...
#Bitcoin produces no cash flow. It pays no dividend, no coupon. But the preferred stack does β and those obligations are real cash. Today's #MSTR release puts annual preferred dividends plus interest at ~$1.76B, up from roughly $300 million at the start of 2026, a near-fourfold jump in under six months. So where does the cash come from? Issuing more securities. That "raise from new investors to pay old ones" dynamic that is glaringly clear in this capital structure. They are not even trying to hide it. And, maybe that is their legal out!.
#CantTouchThis.