Steven McClurg
@stevenmcclurg
CEO of @canaryfunds Partner at Clutch Mining #nostr #npub1nvxnc8egjlhpqtzrxmav3yk8frf3p7y9wujgwrcgwep2xr77xrvsa0paqn
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So much leverage on crypto just got wiped out, after multiple other de-leveraging events this year. Leverage on high vol assets will cause you pain. I know several crypto funds that are down double digits this year, and they keep adding leverage to catch up.
Best way to end government shutdown: Congress pass bills that eliminate vast areas of government spending to balance the budget. Thank you for your attention to this matter.
Market top vibes
NEW: We have another new filing with 3X levered ETFs. This batch from @graniteshares and includes Bitcoin, Ethereum, Solana and XRP
Still holding to my target for 2025
Gold prices precede money printing, bitcoin prices follow closely behind. Bitcoin should trade to $120k based on current global M2, $140k based on expected M2 for 2025
If bitcoin rallies 5% by Tuesday, it will be 5% higher than the current price
If bitcoin rallies 5% by Tuesday, we will have the highest monthly close in history.
Too low. H1B is supposed to be for high-skilled labor. Jobs in the $200k-plus range. $250k is the right number. bloomberg.com/news/articles/…
Good. Now cut spending. The side effect will be lower inflation, then you get the rate cuts you want.
Breaking: Senate Democrats blocked Republicans’ stopgap measure keeping the government funded until late November, setting up a down-to-the wire negotiation over how to avoid a government shutdown in two weeks on.wsj.com/4mraNk3
Congratulations to @SenWarren and her puppet Gensler. Their anti-crypto army weaponized the crypto industry to hand the election to Republicans.
WATCH: GENSLER SAYS HE MADE THE RIGHT CALLS ON SECURITIES AND CRYPTO ENFORCEMENT ACTIONS AS SEC CHAIR
NGS looks like an interesting token, who is going to launch that one?
Here's a list of all the coins that have futures on Coinbase = eligible for spot ETF-ization
I agree that they "should"; HOWEVER, if there is a great operating business that's profitable, above mNAV. If the operating business is a bust, then below. The problem is most of these companies were losers that needed a "crypto lifeline", so used 5-10% of proceeds to pay debt…
Bitcoin Treasury Companies should trade at mNAV. Perhaps the best ones should trade at a slight premium. The more I think about this, the more the issue is the same as always in crypto - too much hype, too fast, people buying a narrative before it was even real.
Thank you Harmon Brothers and @AngelStudiosInc for having me out for this landmark moment. We are very proud to be an investor in Angel.
A historic moment at the @NYSE! 🎉 The Harmon brothers celebrate as Angel goes public, proof that bold faith and light-amplifying storytelling can shape the future of entertainment! 📷 #AngelTakesNYSE @nealsharmon @JeffreyHarmon @JordanHarmon
This is a very cool application that we will use. Congratulations to the @SeiNetwork team
United States Department of Commerce data is coming to Sei. The @chainlink data standard will deliver U.S. GDP and other U.S. government macroeconomic indicators to Sei - powering institutional-grade markets with secure, trusted data. Markets Move Faster on Sei. ($/acc)
I've never been vocal about politics because I don't feel my views fit the mold of either party, and I will likely be attacked from both sides. I was never a Charlie Kirk fan, but respected his work. It's an incredibly sad state of affairs that we can no longer speak freely…
Since the Fed failed to lower rates at the last meeting, 50 bps cut is now the best option for September. But I would simultaneously sell longer-dated bonds on the balance sheet to keep long end rates anchored. Investors need to be compensated t For taking longer duration risk.
EXCLUSIVE: @SatoshiLite shares his insight on the future of crypto. From government adoption & privacy to why @litecoin remains “digital silver” after 14 years. A candid chat with one of the early pioneers. youtu.be/cbqf3nHsOIk
True words
As we celebrate Labor Day, consider your wages are given in US dollars, money is a store of labor, and the U.S. government has been robbing you of it since 1913.
If these numbers are right, they mean a deficit approaching 5.5%/5% of GDP. Importantly, if tariff revenue continues to increase in September, as said, it will offset some BBB spending. (“last 12 months of Biden” were a wild party and not a great benchmark. I use fiscal 2024.)
🚨 BREAKING: Tariff revenue is about to reach $500 BILLION, per Secretary Bessent "We're on our way to a TRILLION" In addition, the budget deficit is already 26% LESS than Biden's last 12 months Can someone do a welfare check on the "experts"? 🤣
The tariffs on China are clearly not causing inflation nor curbing spending on their exported toys and electronics
Dollar General reported stronger-than-expected sales and raised its forecast, adding to signals that US shoppers are still willing to spend on items they see as good value bloomberg.com/news/articles/…
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