REJECTEDWALL #147
Sam Ikkurty
Posted April 14, 2026
PERMANENT LINKcftcsucks.com/147
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Five bullet Friday - issue #112
Dear Partners,
Bitcoin still sets the market sentiment for the crypto markets even though most of the developers are
building on top of Ethereum. Today SEC has announced that they have formally approved an ETF on bitcoin.
1. SEC approved the ETF that is based on the Chicago Mercantile Exchange bitcoin futures. It is a terrible
design that allows for massive market manipulation. The sensible thing to do would be to create an ETF that
holds bitcoin in a public wallet, where it is easy for everyone to track the bitcoin holdings in the ETF. It is
clear to me that the banking establishment wanted it this way and SEC complied with their overlords.
2. Some of the partners were worried due to the drop in OHM price yesterday. This was a result of a lot of
cascading liquidations that happened on the Rari capital pool. OHM market price always gives you misleading
information. If we are traders, the market price is the most important information. For our fund, we are not in
the business of trading. we focus on staking. When we originally bought OHM, it was around $500 and now
it is at $1000. The marketcap when we purchased was $50 million in April and today it is well past $2.8
billion. All of our gains came from the increase in the tokens via staking rewards, as can be seen in our
Retained Earnings Spreadsheet. OlympusDAO generated trading fees of $1.31 million just yesterday alone.
Dear Partners,
Bitcoin still sets the market sentiment for the crypto markets even though most of the developers are
building on top of Ethereum. Today SEC has announced that they have formally approved an ETF on bitcoin.
1. SEC approved the ETF that is based on the Chicago Mercantile Exchange bitcoin futures. It is a terrible
design that allows for massive market manipulation. The sensible thing to do would be to create an ETF that
holds bitcoin in a public wallet, where it is easy for everyone to track the bitcoin holdings in the ETF. It is
clear to me that the banking establishment wanted it this way and SEC complied with their overlords.
2. Some of the partners were worried due to the drop in OHM price yesterday. This was a result of a lot of
cascading liquidations that happened on the Rari capital pool. OHM market price always gives you misleading
information. If we are traders, the market price is the most important information. For our fund, we are not in
the business of trading. we focus on staking. When we originally bought OHM, it was around $500 and now
it is at $1000. The marketcap when we purchased was $50 million in April and today it is well past $2.8
billion. All of our gains came from the increase in the tokens via staking rewards, as can be seen in our
Retained Earnings Spreadsheet. OlympusDAO generated trading fees of $1.31 million just yesterday alone.
3. We have claimed our AKLIMA tokens from the Alchemix crucible. However, in Zapper portfolio it does
not show our rewards from Alchemix. It shows that we currently have 13,797 tokens of aklima. We also
received an additional 4133 tokens of alklima as our staking rewards. If we put this together (4133+13797)
we own 17930 tokens of aklima. The initial supply was 114,000 tokens. As a result, we control 15.73% of
the KLIMA DAO protocol.
4. In the long-term I expect the price of carbon offsets to go up. In fact, that is the goal of KLIMA DAO is
to raise the price of carbon so high, that it becomes prohibitively more expensive to pollute. It also helps
those entities, that are planting trees in the Amazon forest as it helps them finance their projects by selling
not show our rewards from Alchemix. It shows that we currently have 13,797 tokens of aklima. We also
received an additional 4133 tokens of alklima as our staking rewards. If we put this together (4133+13797)
we own 17930 tokens of aklima. The initial supply was 114,000 tokens. As a result, we control 15.73% of
the KLIMA DAO protocol.
4. In the long-term I expect the price of carbon offsets to go up. In fact, that is the goal of KLIMA DAO is
to raise the price of carbon so high, that it becomes prohibitively more expensive to pollute. It also helps
those entities, that are planting trees in the Amazon forest as it helps them finance their projects by selling
these carbon offsets to the polluters of the world. Each carbon offset is a unique NFT, that is brought on the
Ethereum blockchain. The following picture depicts these steps very well.
5. It is natural for OHM price to swing with the sentiment of the market. It is important to note that Olympus
DAO is sitting on a treasury of $444 million. If the total marketcap of OHM drops below this amount, the
protocol will automatically buy out all the OHM tokens available in the market. Today we are earning around
336 OHM tokens per day. At the current market price of $1081, we are earning $363,216 per day.
Ethereum blockchain. The following picture depicts these steps very well.
5. It is natural for OHM price to swing with the sentiment of the market. It is important to note that Olympus
DAO is sitting on a treasury of $444 million. If the total marketcap of OHM drops below this amount, the
protocol will automatically buy out all the OHM tokens available in the market. Today we are earning around
336 OHM tokens per day. At the current market price of $1081, we are earning $363,216 per day.
The growing treasury bodes well for the strength of the protocol
Have a wonderful weekend!
Sam Ikkurty
Published on samikkurty.com | Rose City Investment Fund | CFTC Case No. 1:22-cv-02465 (N.D. Ill.)
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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StatusREJECTED
Posted2026-04-14T08:13:37.000Z
SHA-256 hash335451ca2a82d91295f1c0f6d4ebdad33dd4e7276cedc4a48e1032e2783c22e6
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