Valuation & Financial Performance - The crypto company is being compared to a "PUMP" with an implied ~7x multiple [1] - The company's outstanding fully diluted valuation (FDV) is $29 billion, with 30-day annualized earnings of $12 billion, resulting in a P/E ratio of 24x [1] - The forward P/E is expected to be much lower due to growth [1] - The company is described as the "strongest cashflow generating machine in crypto" and is trading below the average P/E of the S&P 500 [1] Risks & Caveats - There is no firm commitment on the buyback percentage [1] - The durability of fees is a concern, with a question of whether the company has a "HL liquidity moat" or just a "pump launcher moat" [1] Strategic Advantages & Catalysts - The company possesses a "warchest" that allows it to eschew fees [1] - Upcoming catalyst events from raised funds are expected [1]

Proposal Overview - Lido DAO proposes a dynamic buyback of up to 70% for $LDO to return value to holders, utilizing idle stablecoins and stETH [1] - The proposal aims to ensure the DAO doesn't run out of development money by setting safeguard thresholds [1] - The proposal still needs to be discussed and voted on by the DAO [2] Treasury Management - 70% of new incoming assets will be allocated to $LDO buybacks, while 30% will be retained for operations and strategy [2] - If the treasury sits between $50 million and $85 million, buybacks will drop to 50% [2] - If the liquid treasury falls below $50 million, buybacks will stop entirely [2] Current Treasury Assets - The treasury holds $17 million in USDC, $119 million in USDT, and $122 million in DAI [3] - The treasury also holds 28,640 stETH, valued at approximately $105 million [3]

Financial Performance - London Stock Exchange Group's profit beat estimates [1] - London Stock Exchange Group unveils a £1 billion buyback [1] - London Stock Exchange Group raises its margin outlook [1]

Business Strategy - John Hess plans to buy back his family's iconic toy truck business from Chevron next year [1]

Market Sentiment & Strategy - Suggestion for Pumpfun to switch to 100% buyback strategy to avoid a "death spiral" due to low $PUMP price impacting meme value and platform launches [1] - Concern that low $PUMP price psychologically caps the value of its memes, especially Fartcoin [1] - Observation that the window for making strategic moves is closing [1] Buyback Activity & Communication - Report that Pumpfun used 100% of daily revenue for $PUMP buybacks yesterday [1] - Noted that buyback percentage hovered around 20-26% in the previous days [1] - Lack of recent communication from Alon (6 days) and the Pumpfun account (7 days) raises concerns [1]

Cryptocurrency Market - Pumpdotfun buyback wallet holds 69,420 SOL, equivalent to $115 million [1] - The market is anticipating the deployment of the remaining SOL [1] Community & Culture - The author expresses involvement "for the culture," indicating a community-driven aspect within the cryptocurrency space [1]

bonk generating $8m weekly fees with half going to buy+burn. running $100m annual buyback rate while market still prices it as a memereality gap getting too wide to ignore ...

Investment Strategy - The investor repurchased Bitcoin at $117k after selling it at $110k [1] - The initial buyback target was $90k, with an ultimate goal of $600k [1] Potential Loss - The repurchase at $117k represents a 6.36% increase from the initial selling price of $110k [1]

RT Tendies (@tradefortendies)4,118.31What is this number?The amount of SOL that's going to be used to buyback and burn BONK from yesterday's revenue of letsbonk fun 🔥Remember the Dog supports the eco instead of sending this SOL to Kraken for a one click FSH 😂 ...

Investment Rating - The report indicates a positive outlook for US equities, with expectations for net buying in various scenarios over the next month [2][5]. Core Insights - The report highlights that professional investors have driven equities higher, with macro investor optimism significantly influenced by Fed policy [80]. - Global equities experienced the largest net buying in five weeks, primarily driven by long buys and some short covering [38]. - The report notes that 6 out of 11 global sectors were net bought, with Financials, Info Tech, and Industrials leading, while Energy, Comm Svcs, and Real Estate saw the most net selling [40]. Summary by Relevant Sections CTA Corner - CTAs are long $67 billion in global equities, with a significant portion in the US, and are expected to shift from selling to buying in the coming month [2][5]. - In the past week, there was a net selling of $9.2 billion, but future estimates suggest a reversal in buying trends [2]. Market Flows - The report details expected flows in different market scenarios, indicating a potential for significant buying in flat and up scenarios over the next month [7]. - Notably, the S&P 500 E-mini is projected to see varied flows, with net buying expected in flat and up scenarios [7]. Sector Performance - The report indicates that the Financial sector saw the largest net buying since December 2016, driven by hedge funds [40]. - Energy stocks faced the largest net selling since September 2024, attributed to increased short positions amid geopolitical tensions and declining oil prices [41]. Trading Activity - Trading volumes were light due to corporate blackout periods ahead of earnings, with a significant portion of trading focused on Financials, Tech, and Health Care [54]. - The report anticipates a slow trading week ahead due to the Independence Day holiday in the US [54].