REJECTEDWALL #164
Sam Ikkurty
Posted April 14, 2026
PERMANENT LINKcftcsucks.com/164
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Five bullet Friday - issue #128
Dear Partners,
I had a relaxing vacation disconnected from the digital world. A lot changed in the last 2 weeks. I come
back to realize that the world is slowly moving towards the potential of world war 3. In these 2 weeks,
Canada flipped from democracy to a police state. They seized the funds raised through Gofundme of Canadian
truckers, assets seized without any due process, shut down bank accounts of supporters to the protest and
declared a national emergency.
1. Canada showed to the world the true face of a government. They have printed trillions of dollars and made
everyone poorer via inflation but still seized the $10 million dollars raised by truckers. They went full
medieval and trampled on the protestors with horses and arrested kids. censorship-resistance offered by bitcoin
came to their rescue. Canada's corrupt judges tried to seize bitcoin from one wallet provider. I enjoyed reading
their letter to the Judge.
Dear Partners,
I had a relaxing vacation disconnected from the digital world. A lot changed in the last 2 weeks. I come
back to realize that the world is slowly moving towards the potential of world war 3. In these 2 weeks,
Canada flipped from democracy to a police state. They seized the funds raised through Gofundme of Canadian
truckers, assets seized without any due process, shut down bank accounts of supporters to the protest and
declared a national emergency.
1. Canada showed to the world the true face of a government. They have printed trillions of dollars and made
everyone poorer via inflation but still seized the $10 million dollars raised by truckers. They went full
medieval and trampled on the protestors with horses and arrested kids. censorship-resistance offered by bitcoin
came to their rescue. Canada's corrupt judges tried to seize bitcoin from one wallet provider. I enjoyed reading
their letter to the Judge.
2. I have been following Jeremy Grantham for many years. He has a great track record of predicting stock
market bubbles several times in the past. In this recent interview with Bloomberg, he is expecting the market
to take a hit of at least 50% this year for S&P 500. The fundamentals of crypto markets are improving every
day, while the traditional markets are declining every day. Traditional finance markets are very fragile and can
unravel completely if Jeremy's predictions come true.
3. Many are worried about the recent drop in the price of KLIMA. Since we are compounding our money at
the rate of 8000% APY, it is important that we do not disrupt this compounding process early on. In order to
market bubbles several times in the past. In this recent interview with Bloomberg, he is expecting the market
to take a hit of at least 50% this year for S&P 500. The fundamentals of crypto markets are improving every
day, while the traditional markets are declining every day. Traditional finance markets are very fragile and can
unravel completely if Jeremy's predictions come true.
3. Many are worried about the recent drop in the price of KLIMA. Since we are compounding our money at
the rate of 8000% APY, it is important that we do not disrupt this compounding process early on. In order to
reap the benefits of compounding, we need to always have a long term perspective. KLIMA is planning to
reduce their APY in the next 2 weeks. We used to have 12000 tokens at the peak of the November bull
market. Today, we have 184,724 tokens of KLIMA. In 2 years from now, we will have 237 KLIMA for
each KLIMA token we have, pushing up our token count to 43 million tokens in two years. Even if the
current depressed price of $20 per KLIMA token continues for another 2 years, it would be worth around
$875 million.
4. Olympus DAO has announced that they are going to launch a secondary bond market and allow stakers to
lock their tokens for longer time periods. Another major crypto modeling company, Gauntlet published a white
paper with several Phd Students from Berkeley: people.eecs.berkeley.edu/~ksk/files/
Ohm_Liquidity_Management.pdf. This is hugely bullish for OlympusDAO. In November, we used to own
140,000 OHM tokens. Today, due to our compounding returns, we own 334,176 tokens of OHM.
5. I have been spending a lot of time with auditors to treat the OHM to GOHM conversion as a non-taxable
event which happened in early December. When the OHM token migrated to version 2, we had to convert our
OHM to GOHM to facilitate voting with a non-rebasing token. IRS has not provided a clear guidance as to
how to treat this conversion. I am arguing and convincing the tax experts from the Audit team to treat this as
a non-taxable event. Our OHM position value at that time of the conversion was $90 million. Our audit team
is reaching out to the IRS for a favorable determination letter so that we don't have to pay capital gains tax at
the time of this conversion. Because of this, I am expecting a delay in sending K-1s. I request all of you to
file for extensions in case we fail to get the K-1s sent over in time.
Have a wonderful weekend!
Sam Ikkurty
Published on samikkurty.com | Rose City Investment Fund | CFTC Case No. 1:22-cv-02465 (N.D. Ill.)
reduce their APY in the next 2 weeks. We used to have 12000 tokens at the peak of the November bull
market. Today, we have 184,724 tokens of KLIMA. In 2 years from now, we will have 237 KLIMA for
each KLIMA token we have, pushing up our token count to 43 million tokens in two years. Even if the
current depressed price of $20 per KLIMA token continues for another 2 years, it would be worth around
$875 million.
4. Olympus DAO has announced that they are going to launch a secondary bond market and allow stakers to
lock their tokens for longer time periods. Another major crypto modeling company, Gauntlet published a white
paper with several Phd Students from Berkeley: people.eecs.berkeley.edu/~ksk/files/
Ohm_Liquidity_Management.pdf. This is hugely bullish for OlympusDAO. In November, we used to own
140,000 OHM tokens. Today, due to our compounding returns, we own 334,176 tokens of OHM.
5. I have been spending a lot of time with auditors to treat the OHM to GOHM conversion as a non-taxable
event which happened in early December. When the OHM token migrated to version 2, we had to convert our
OHM to GOHM to facilitate voting with a non-rebasing token. IRS has not provided a clear guidance as to
how to treat this conversion. I am arguing and convincing the tax experts from the Audit team to treat this as
a non-taxable event. Our OHM position value at that time of the conversion was $90 million. Our audit team
is reaching out to the IRS for a favorable determination letter so that we don't have to pay capital gains tax at
the time of this conversion. Because of this, I am expecting a delay in sending K-1s. I request all of you to
file for extensions in case we fail to get the K-1s sent over in time.
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
Posted2026-04-14T08:13:49.000Z
SHA-256 hash331b8f94a2e5264fcd94d20fb7d5feeab0496be8a4ee8d33e5bd346928b43101
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