X @BREAD | ∑:

This, but PUMP (and it's ~7x multiple).Caveats:→ No firm commitment on buyback %→ Durability of the fees (HL liquidity moat > pump launcher moat)Still feels like the warchest, which lets them eschew fees, and coming catalyst events from raised funds makes it a no-brainer https://t.co/F3rSyuSIZtJon Charbonneau 🇺🇸 (@jon_charb):the strongest cashflow generating machine in crypto is trading below the average P/E of the S&P 500 & growing way faster$29bn/$1.2bn (outstanding FDV/30d annualized earnings) = 24xforwa ...