REJECTEDWALL #161
Sam Ikkurty
Posted April 14, 2026
PERMANENT LINKcftcsucks.com/161
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Five bullet Friday - issue #126
Dear Partners,
Crypto markets continued their downward trajectory as this week marks the third week in a row with
negative returns across all sectors. Big layer 1 platforms like Solana experienced a -31% draw down.
1. Last week many outlets reported that the Biden administrator wants to regulate stablecoins like UST,
USDC via a new executive order. Apparently, Biden thinks that this is a matter of national security. So far,
Wall Street has claimed that crypto markets are speculative and even called them ponzi schemes. But suddenly
they woke up and now it is a national security matter. The US NY attorney general has filed numerous
lawsuits against Bitfinex hoping they can hurt Tether. Despite all of it, Tether is doing well.
2. Bank of America's analysts are predicting that the Federal Reserve will raise rates 7 times this year to 3%.
Many others are predicting even more rate increases. The chart below shows that they have been wrong about
these projections for the last 10 years consistently. Raising the rates will increase US government expenditure
phenomenally, and I really doubt the Fed's ability to raise rates. They are saying one thing, but doing exactly
the opposite, if you observe the rate of growth of money supply.
Dear Partners,
Crypto markets continued their downward trajectory as this week marks the third week in a row with
negative returns across all sectors. Big layer 1 platforms like Solana experienced a -31% draw down.
1. Last week many outlets reported that the Biden administrator wants to regulate stablecoins like UST,
USDC via a new executive order. Apparently, Biden thinks that this is a matter of national security. So far,
Wall Street has claimed that crypto markets are speculative and even called them ponzi schemes. But suddenly
they woke up and now it is a national security matter. The US NY attorney general has filed numerous
lawsuits against Bitfinex hoping they can hurt Tether. Despite all of it, Tether is doing well.
2. Bank of America's analysts are predicting that the Federal Reserve will raise rates 7 times this year to 3%.
Many others are predicting even more rate increases. The chart below shows that they have been wrong about
these projections for the last 10 years consistently. Raising the rates will increase US government expenditure
phenomenally, and I really doubt the Fed's ability to raise rates. They are saying one thing, but doing exactly
the opposite, if you observe the rate of growth of money supply.
3. The goal of OHM protocol is to create a decentralized, censorship resistant reserve currency for the
emerging Web3 ecosystem. We see an enormous growth in the stablecoins over the last 2 years. All of them
suffer from the same problem that they are pegged to an inflationary currency like the US Dollar. OHM solves
this problem with a sustainable treasury. I am impressed with the current roadmap of OHM protocol.
Objectives: Preserve OHM’s Purchasing
Power and Drive Its Use as a Trusted
Backing
Current Activities DAO
Working
Groups
Leading
Efforts
Manage Token
Emissions
(Preserve
Purchasing
Power)
Reduce token emissions
to dampen volatility and
improve sustainability
Token emissions are
being reduced
Policy
Quantify
Olympus’
Value
Proposition
(Preserve
Purchasing
Power)
Improve the market’s
understanding of the
rationale for OHM’s
premium by introducing
new metrics and
dashboards that illustrate
and track its value
proposition/ ecosystem/
Treasury impact
Dashboards and metrics,
including the Olympus
Impact Factor, a measure
of the Olympus
ecosystem’s overall
strength and growth, are
under development
Policy,
Content
emerging Web3 ecosystem. We see an enormous growth in the stablecoins over the last 2 years. All of them
suffer from the same problem that they are pegged to an inflationary currency like the US Dollar. OHM solves
this problem with a sustainable treasury. I am impressed with the current roadmap of OHM protocol.
Objectives: Preserve OHM’s Purchasing
Power and Drive Its Use as a Trusted
Backing
Current Activities DAO
Working
Groups
Leading
Efforts
Manage Token
Emissions
(Preserve
Purchasing
Power)
Reduce token emissions
to dampen volatility and
improve sustainability
Token emissions are
being reduced
Policy
Quantify
Olympus’
Value
Proposition
(Preserve
Purchasing
Power)
Improve the market’s
understanding of the
rationale for OHM’s
premium by introducing
new metrics and
dashboards that illustrate
and track its value
proposition/ ecosystem/
Treasury impact
Dashboards and metrics,
including the Olympus
Impact Factor, a measure
of the Olympus
ecosystem’s overall
strength and growth, are
under development
Policy,
Content
4. It is true that the market value of our OHM tokens has gone down in the last two months. However, today
we have double the number of tokens when compared to December 1st, 2021 which is a result of our staking
income. Olympus DAO announced a new plan that will allow people to redeem their OHM tokens for
treasury assets like DAI. I am hoping this proposal will mitigate the forced selling.
5. KLIMA is working on onboarding corporate partners for the upcoming release of the KLIMA Infinity
product. This gives a simple interface for people and corporations to offset their carbon impact. KIP-9 has
passed, which allows the protocol to lower the APY rate. This caused a lot of speculators to leave KLIMA,
which is a positive for the protocol. We are buying KLIMA constantly every week.
Demonstrate Olympus’
staying power, economic
strength and diminishing
volatility to increase trust
in the asset
Communications and
messaging are being
refined Marketing,
Grants, Data
and Metrics
Decentralize
Operations to
Improve
Censorship-
Resistance
(Trusted
Backing)
Develop on-chain
governance mechanisms
that provide the
community with direct
control over bonds, asset
acquisition and other core
functions
Develop economic
incentives that reward
loyal OHM holders for
active participation in
governance
Engage in efforts that
reduce the impact/
influence of USD on OHM
and the Treasury
On-chain governance
solutions are in early
development
Governance incentives
are being considered
Conversations are
underway to expand the
definition of risk-free value
beyond USD-pegged
stablecoins
Engineering
Multiple
DAO Teams
Policy,
Treasury
we have double the number of tokens when compared to December 1st, 2021 which is a result of our staking
income. Olympus DAO announced a new plan that will allow people to redeem their OHM tokens for
treasury assets like DAI. I am hoping this proposal will mitigate the forced selling.
5. KLIMA is working on onboarding corporate partners for the upcoming release of the KLIMA Infinity
product. This gives a simple interface for people and corporations to offset their carbon impact. KIP-9 has
passed, which allows the protocol to lower the APY rate. This caused a lot of speculators to leave KLIMA,
which is a positive for the protocol. We are buying KLIMA constantly every week.
Demonstrate Olympus’
staying power, economic
strength and diminishing
volatility to increase trust
in the asset
Communications and
messaging are being
refined Marketing,
Grants, Data
and Metrics
Decentralize
Operations to
Improve
Censorship-
Resistance
(Trusted
Backing)
Develop on-chain
governance mechanisms
that provide the
community with direct
control over bonds, asset
acquisition and other core
functions
Develop economic
incentives that reward
loyal OHM holders for
active participation in
governance
Engage in efforts that
reduce the impact/
influence of USD on OHM
and the Treasury
On-chain governance
solutions are in early
development
Governance incentives
are being considered
Conversations are
underway to expand the
definition of risk-free value
beyond USD-pegged
stablecoins
Engineering
Multiple
DAO Teams
Policy,
Treasury
Have a wonderful weekend!
Sam Ikkurty
Published on samikkurty.com | Rose City Investment Fund | CFTC Case No. 1:22-cv-02465 (N.D. Ill.)
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
Posted2026-04-14T08:13:45.000Z
SHA-256 hash21393052b128f1a20bceef00239be9e82c57ffe81bc060ca529f3d90fcc67efa
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