jdorman81

Wall Street doesn't understand new concepts...until they do

$HOOD - from hated PFOF, to beloved stock
$COIN - from hated conglomerage to slightly less hated crypto proxy
$CRCL - From failed IPO, to hottest IPO ever

$GLXY - likely next. AI Data center powerhouse + Crypto InvBnk

A major geopolitical event unfolded Friday, & escalated thru the weekend. Oil spiked. EM currencies gapped down. Digital assets tumbled (though in a pretty muted response compared to historically).

And what do U.S. equity & debt investors get to do about it?

Nothing.  👇

Don't worry CT, this dip will be over as soon as all of those mutual funds that @jerallaire & @circle allocated $CRCL shares to start bidding for $BTC $ETH & $SOL. I mean, none of them have wallets, they don't work weekends, & they hate crypto, but still a great plan by Jeremy

My final statement on the botched Circle IPO, with less profanity and more detail on how Circle and $USDC have become the antithesis of everything crypto stands for

https://www.ar.ca/blog/circle-ipo-is-the-antithesis-of-crypto-ethos

Pretty soon you will realize 2021 was an anomaly, not the norm. The influencers / VCs you idolize were likely one hit wonders. Highly inflationary protocols w/ massive VC unlocks & “network effects” are not going to outperform revenue producing companies w/ token buybacks.

If you’re thinking about a token airdrop, or another rewards strategy, you’re most likely completely misunderstanding motivational behavior.

Would encourage all token issuers & investors to read some behavior psychology studies on motivation.

@DanielPink is one of the best

Bitcoin should love a Moody’s downgrade of the USA credit rating... ATHs in sight!

Let's revisit the past USA downgrades

S&P downgraded the U.S. in August 2011, and Fitch downgraded the U.S. in August 2023.

Stock market in a nutshell

$COIN

+30% after being listed in S&P500 so Vanguard ETF Index monkeys can buy it

-5% only after losing ~$400mm of customer's money in a hack, & possibly getting some of them killed or kidnapped due to data breach

Don't hate the player, hate the game

Markets in a nutshell

$COIN

+30% after being listed in S&P500 so Vanguard ETF Index monkeys can buy it

-5% only after losing ~$400mm of customer's money in a hack, & possibly getting some of them killed or kidnapped due to data breach

Don't hate the player, hate the game

Wall Street is not stupid. They can understand VERY complex financial instruments & concepts if there is money to be made.

The lack of buyers for DeFi & other equity-like tokens is a complete failure of effort & education by crypto’s largest firms (exchanges, brokers, MMs)

There have been two distinct selloffs in digital assets this year -- and neither has fully retraced despite equities and fixed income fully retracing:

Let's break down each of the selloffs, and what's next 👇

Surprised $TRUMP is still above $10

The May 12 snapshot for dinner w/ POTUS has passed, & May 22 dinner still 10 days away.

The move from $9 to $14 was driven by the added utility of the dinner, but that's over now.

So TRUMP holders are betting on more features to be added?

Hard data has been strong (earnings, PMI, Jobs), while soft data has been weak (outlooks, surveys)

All based on trade wars.... which are over.

Net/net: NOTHING has changed but price. For crypto, tons of + regulatory change too.

Sort by "down YTD" -- those are your next winners

This is like a Y2K moment for Coingecko and TradingView when ETH his $10,000 by day's end... hope their systems are ready to handle 5-digit ETH