REJECTEDWALL #131
Sam Ikkurty
Posted April 14, 2026
PERMANENT LINKcftcsucks.com/131
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Five bullet Friday - issue #99
Dear Partners,
Crypto market sentiment seems to be negative, mostly driven by bitcoin. I have processed the
distributions to all the partners on Monday of this week. With each monthly distribution, your risk to your
capital decreases slowly. Eventually, when your distributions are equal to your capital contribution, you have
no risk with the fund. After that you can just let your profits ride.
1. Bitcoin's hashrate went through a massive decline of 60%, as China dominated bitcoin mining. Miners are
relocating to friendly jurisdictions all around the world. Bitcoin's hashrate dropped to the levels not seen since
June, 2019, but started recovering very quickly. We moved up 15% in the last 2 weeks. Bitcoin tends to set
the mood for the crypto market in general.
2. Twitter's CEO Jack Dorsey announced a plan to launch a new business that will create a new
hardware wallet for bitcoin and facilitate Decentralized financial services. This entity will collaborate with
thousands of engineers on the chip design, hardware manufacturing and software design and development out
Dear Partners,
Crypto market sentiment seems to be negative, mostly driven by bitcoin. I have processed the
distributions to all the partners on Monday of this week. With each monthly distribution, your risk to your
capital decreases slowly. Eventually, when your distributions are equal to your capital contribution, you have
no risk with the fund. After that you can just let your profits ride.
1. Bitcoin's hashrate went through a massive decline of 60%, as China dominated bitcoin mining. Miners are
relocating to friendly jurisdictions all around the world. Bitcoin's hashrate dropped to the levels not seen since
June, 2019, but started recovering very quickly. We moved up 15% in the last 2 weeks. Bitcoin tends to set
the mood for the crypto market in general.
2. Twitter's CEO Jack Dorsey announced a plan to launch a new business that will create a new
hardware wallet for bitcoin and facilitate Decentralized financial services. This entity will collaborate with
thousands of engineers on the chip design, hardware manufacturing and software design and development out
in the open. Having seen the impact of Square on many small businesses, in the US I am optimistic that this
will hasten the adoption of crypto assets.
3. We have not claimed our Synthetix income this week as our collateralization ratio has dropped below
400%. I plan to claim them next week. We are still collecting fees from our REN darknodes, but we have not
claimed them yet.
4. I have added to our position on Axie Infinity (AXS). This position is not showing up in the Zapper
portfolio yet. Please be patient as it will be integrated soon. Over the past 2 weeks, the number of users have
grown up to 250,000 daily active users of this 'play to earn' game. It is growing its treasury revenues by
almost $1 million per day. It is massively popular in many Asian countries.
5. OlympusDAO aspires to be a decentralized reserve currency. Its treasury has grown to $50 million. We
have deposited the OHM tokens on RARI protocol to borrow USDC. OHM is our 3rd largest position after
YFI and SNX at close to $5 million. We currently hold 10,434.60 tokens of OHM. This position is not
reflected in our portfolio on Zapper yet.
Bitcoin is antifragile. Anything that does not kill it will make it stronger. I am confident that the recovery has
started. I am expecting the statements to be released early next week.
Have a wonderful weekend!
Sam Ikkurty
Published on samikkurty.com | Rose City Investment Fund | CFTC Case No. 1:22-cv-02465 (N.D. Ill.)
will hasten the adoption of crypto assets.
3. We have not claimed our Synthetix income this week as our collateralization ratio has dropped below
400%. I plan to claim them next week. We are still collecting fees from our REN darknodes, but we have not
claimed them yet.
4. I have added to our position on Axie Infinity (AXS). This position is not showing up in the Zapper
portfolio yet. Please be patient as it will be integrated soon. Over the past 2 weeks, the number of users have
grown up to 250,000 daily active users of this 'play to earn' game. It is growing its treasury revenues by
almost $1 million per day. It is massively popular in many Asian countries.
5. OlympusDAO aspires to be a decentralized reserve currency. Its treasury has grown to $50 million. We
have deposited the OHM tokens on RARI protocol to borrow USDC. OHM is our 3rd largest position after
YFI and SNX at close to $5 million. We currently hold 10,434.60 tokens of OHM. This position is not
reflected in our portfolio on Zapper yet.
Bitcoin is antifragile. Anything that does not kill it will make it stronger. I am confident that the recovery has
started. I am expecting the statements to be released early next week.
Have a wonderful weekend!
Sam Ikkurty
Published on samikkurty.com | Rose City Investment Fund | CFTC Case No. 1:22-cv-02465 (N.D. Ill.)
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Submission trackF
StatusREJECTED
Posted2026-04-14T08:13:17.000Z
SHA-256 hashbf47ecb26c1125262f21018a2cbdb5ca6628b8e917d14f6f4e9beb22e988ce2a
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