REJECTEDWALL #117
Sam Ikkurty
Posted April 14, 2026
PERMANENT LINKcftcsucks.com/117
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Five bullet Friday - Issue #82
Published on samikkurty.com | Five Bullet Friday Investor Update
Dear Partners,
Most of you must have received your February distributions today. I initiated the ACH transfers
yesterday. Some banks may deposit on Monday as well. Some partners, who added additional capital in
February will receive an additional distribution, after I get the reconciliation file from Tower Funds.
1. I have added our small stake in Alchemix to staking on their platform. So far our $50,000 stake has
generated almost $7835 of income in one week. Alchemix platform allows a user to deposit DAI and take a
loan against their future yield.
2. In the past week, KBTC price traded below bitcoin's price. As a result, we did not get any income in the
boardroom. We are generating income via staking in Uniswap, which has yielded us $80,000 in income. Now
KLON position is reflected in our portfolio on Zapper.
Published on samikkurty.com | Five Bullet Friday Investor Update
Dear Partners,
Most of you must have received your February distributions today. I initiated the ACH transfers
yesterday. Some banks may deposit on Monday as well. Some partners, who added additional capital in
February will receive an additional distribution, after I get the reconciliation file from Tower Funds.
1. I have added our small stake in Alchemix to staking on their platform. So far our $50,000 stake has
generated almost $7835 of income in one week. Alchemix platform allows a user to deposit DAI and take a
loan against their future yield.
2. In the past week, KBTC price traded below bitcoin's price. As a result, we did not get any income in the
boardroom. We are generating income via staking in Uniswap, which has yielded us $80,000 in income. Now
KLON position is reflected in our portfolio on Zapper.
3. Our debt has gone up a lot in the recent weeks. This is due to the fact that when Synthetix price went to
$28, it allowed me to mint more SUSD. We also have debt on Cream application with badger tokens as
collateral. I am trying to minimize our capital gains payable by borrowing against our assets as opposed to
selling them. I realize that this adds a lot of risk to the fund. I am expecting Synthetix to rise, once futures
are released . I will mint additional SUSD and pay off our outstanding debt.
4. KLON token is expected to launch their version 2 this month. This version 2 will cut the outstanding
tokens from a million to 500,000. The token contracts have to be migrated to a new token. The new token is
likely to be called, 'RUSH'. Our stake in the protocol becomes more valuable as 50% of the potential tokens
are removed from supply. They also plan on providing VeKLON as another token which is used for yield
farming, which accrues to the stakers in the boardroom. They are also planning to launch many other
synthetic assets. We control 20% of KLON protocol.
5. I used to travel to Omaha, Nebraska for the annual meetings of Berkshire Hathaway as I have been a
shareholder for many years. In one of the meetings, he was asked how he decides which of his portfolio
holdings he will allocate new capital, that comes from insurance premiums. Berkshire's portfolio consists of
20 major multi-billion dollar enterprises. He would not add the money equally to all of them, but he would
add a big portion of his capital to the company that has the best return on invested capital. Similarly, our
SNX and YFI are not generating as much income for us, when compared to KLON or Alchemix.I think that
is a more prudent strategy to add our capital to those positions which are generating a lot more income as
seen in our Retained Earnings spreadsheet.
Have a wonderful weekend!
warm regards,
$28, it allowed me to mint more SUSD. We also have debt on Cream application with badger tokens as
collateral. I am trying to minimize our capital gains payable by borrowing against our assets as opposed to
selling them. I realize that this adds a lot of risk to the fund. I am expecting Synthetix to rise, once futures
are released . I will mint additional SUSD and pay off our outstanding debt.
4. KLON token is expected to launch their version 2 this month. This version 2 will cut the outstanding
tokens from a million to 500,000. The token contracts have to be migrated to a new token. The new token is
likely to be called, 'RUSH'. Our stake in the protocol becomes more valuable as 50% of the potential tokens
are removed from supply. They also plan on providing VeKLON as another token which is used for yield
farming, which accrues to the stakers in the boardroom. They are also planning to launch many other
synthetic assets. We control 20% of KLON protocol.
5. I used to travel to Omaha, Nebraska for the annual meetings of Berkshire Hathaway as I have been a
shareholder for many years. In one of the meetings, he was asked how he decides which of his portfolio
holdings he will allocate new capital, that comes from insurance premiums. Berkshire's portfolio consists of
20 major multi-billion dollar enterprises. He would not add the money equally to all of them, but he would
add a big portion of his capital to the company that has the best return on invested capital. Similarly, our
SNX and YFI are not generating as much income for us, when compared to KLON or Alchemix.I think that
is a more prudent strategy to add our capital to those positions which are generating a lot more income as
seen in our Retained Earnings spreadsheet.
Have a wonderful weekend!
warm regards,
Sam Ikkurty
Managing Partner
Source: samikkurty.com | This document is part of the public record of the CFTC v. Ikkurty case.
Managing Partner
Source: samikkurty.com | This document is part of the public record of the CFTC v. Ikkurty case.
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Submission trackF
StatusREJECTED
Posted2026-04-14T08:12:52.000Z
SHA-256 hash7f4a447210fdbf49e94e08160922c4d49b8ea0539428fa33cfb2794d8db0a974
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