REJECTEDWALL #249
Sam Ikkurty
Posted April 14, 2026
PERMANENT LINKcftcsucks.com/249
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RCIF II - Five bullet Friday - issue #57
Published on samikkurty.com | Five Bullet Friday Investor Update
Dear Partners,
I apologize for the delay in getting the Schedule K-1s. The main reason is we don't have clear-cut
guidance from IRS on how to treat the staking income from algorithmic stable coins. Our position is that
unrealized staking income cannot be part of taxable income. It is currently being discussed with the auditors. I
request all of you to file for an extension or file the tax returns and amend them later after receiving the K-1s.
1. Last week US government reported that our CPI is at 8.56%. Bond markets are slowly waking up to the
new reality. If the year ended today, it would be the worst in history for the US Bond Market with a loss of
8.5%. Entering the year, the 2.9% decline for bonds in 1994 was the largest ever. I expect mortgage rates to
climb steadily reducing the demand for real estate.
2. Our mainstream media has been consistently wrong about their projections of inflation. They want us to
believe that inflation is good for the people. They like to blame "greedy" corporations for the price increases.
The latest I heard now is that it is "Putin's price hike". Interestingly, no one talks about restraining Federal
Reserve's constant printing of money, which is the same as buying bonds.
Published on samikkurty.com | Five Bullet Friday Investor Update
Dear Partners,
I apologize for the delay in getting the Schedule K-1s. The main reason is we don't have clear-cut
guidance from IRS on how to treat the staking income from algorithmic stable coins. Our position is that
unrealized staking income cannot be part of taxable income. It is currently being discussed with the auditors. I
request all of you to file for an extension or file the tax returns and amend them later after receiving the K-1s.
1. Last week US government reported that our CPI is at 8.56%. Bond markets are slowly waking up to the
new reality. If the year ended today, it would be the worst in history for the US Bond Market with a loss of
8.5%. Entering the year, the 2.9% decline for bonds in 1994 was the largest ever. I expect mortgage rates to
climb steadily reducing the demand for real estate.
2. Our mainstream media has been consistently wrong about their projections of inflation. They want us to
believe that inflation is good for the people. They like to blame "greedy" corporations for the price increases.
The latest I heard now is that it is "Putin's price hike". Interestingly, no one talks about restraining Federal
Reserve's constant printing of money, which is the same as buying bonds.
3. The largest Layer-2 scaling solution for Ethereum is Polygon. They have recently announced a partnership
with KLIMA and have set aside $20 million to offset their emissions. As a 6-month-old protocol, it is a big
victory for KLIMA. This legitimizes the protocol and established them as the leaders in the carbon markets.
OHM protocol also chose to offset their emissions via KLIMA up to 33,333 tons of carbon. This was passed
last week.
with KLIMA and have set aside $20 million to offset their emissions. As a 6-month-old protocol, it is a big
victory for KLIMA. This legitimizes the protocol and established them as the leaders in the carbon markets.
OHM protocol also chose to offset their emissions via KLIMA up to 33,333 tons of carbon. This was passed
last week.
4. We hold a big position in YGG tokens in our Portfolio. This is our exposure to the growth of the
metaverse. No company dominates Metaverse games as much as YGG. Recently Meta has announced that
they plan to collect 47.5% of NFT sales that happen on the Meta platform. It is absurd that they even
propose this, while most of the Web 3 platforms barely charge 2 to 2.5% for NFT sales.
5. Some of you are very nervous about the drop in the price of OHM tokens. It is important to realize that
market price is the worst possible indicator for algorithmic stable coins like OlympusDAO. We are steadily
compounding our supply of tokens. Our mantra is when you are compounding at a good rate, do not interrupt
metaverse. No company dominates Metaverse games as much as YGG. Recently Meta has announced that
they plan to collect 47.5% of NFT sales that happen on the Meta platform. It is absurd that they even
propose this, while most of the Web 3 platforms barely charge 2 to 2.5% for NFT sales.
5. Some of you are very nervous about the drop in the price of OHM tokens. It is important to realize that
market price is the worst possible indicator for algorithmic stable coins like OlympusDAO. We are steadily
compounding our supply of tokens. Our mantra is when you are compounding at a good rate, do not interrupt
it unnecessarily. We currently hold 3 times more tokens than at the peak of the bull market. OHM has
outperformed (323%) both Bitcoin and Ethereum in a 1-year time frame.
Have a wonderful weekend!
Sam Ikkurty
Source: samikkurty.com | This document is part of the public record of the CFTC v. Ikkurty case.
outperformed (323%) both Bitcoin and Ethereum in a 1-year time frame.
Have a wonderful weekend!
Sam Ikkurty
Source: samikkurty.com | This document is part of the public record of the CFTC v. Ikkurty case.
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VERIFICATION RECORD
Submission trackF
StatusREJECTED
Posted2026-04-14T08:16:47.000Z
SHA-256 hash330825e4ebb0806e7d53a23df6a21d2ce8a0192876f87a722a5aa95513b35443
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