jupiter killed the treasury model that required governance votes and committees. 22% of supply disappears yearly through $168m in hardcoded buybacks.the machines are buying. ...

the assistance fund runs $2-5m daily twap buybacks across thousands of micro orders. market makers can't front-run distributed execution. 30m tokens already gone forever, removing 7.9% of supply annually at current burn rate. 99% of protocol revenue becomes permanent bid pressure. every token removed makes the next buyback more violent. ...

Supply Dynamics - Hype's core team unlocks begin in 79 days [1] - Daily release of 344k tokens will occur [1] - Token supply will increase 650% (65x) more than buybacks can absorb [1]

Inflation & Monetary Policy - The market is shifting focus from inflation reports to jobs reports, with the expectation that inflation numbers are decreasing [1][2] - The company's internal CPI measure was almost 100 basis points (1%) below the actual number last month, indicating housing and shelter as key drivers [2] - While a 25 basis point rate hike is expected, a 50 basis point hike could be justified, although only 10% of the market forecasts this [3] - The company believes underlying inflation trends are improving and the Fed should look past tariff-induced noise [6] AI & Tech Sector - The AI trade is considered to be in its early stages, potentially the "third inning," with software identified as the next area for growth [9][10] - The company is a strong believer in the long-term impact of AI on the economy, markets, and stocks, anticipating broader participation beyond chip stocks [10] - A key focus is on mega-cap tech, especially after Oracle's strong results, suggesting AI-focused names are still attractive [7][8] European Markets - Despite political turmoil in France and rising tensions in the Middle East, Europe remains an attractive investment opportunity [11][12] - The company favors European defense and infrastructure investments as a "next decade trade" due to supportive valuations [13][14] - The company recommends focusing on specific sectors like defense (e g BA Systems) and infrastructure investment within the broader European economy [14] Investment Strategy - The company suggests a Wisdom Tree ETF (WTV) focused on high dividend and buyback yields, offering a close to 7% shareholder yield [14][15] - This ETF targets companies that believe their stocks are cheap and are buying back approximately 5% of their shares outstanding [15] - The dividend/buyback strategy is seen as a way to participate in the AI story's diffusion through the economy, targeting companies that will utilize AI and consider their stocks undervalued [16]

Tokenomics & Governance - Helium (HNT) 将从早期投资者手中购回剩余的 570 万枚 HNT 代币，此前该投资者一直在通过 Coinbase 积极出售 [1] - Helium 计划建立更透明的机制，通过回购将链下收入引入 HNT [1] - Helium 搁置了任何稀释供应以及合并股权/代币的计划或讨论 [1] Future Developments - Helium 至少还有一件大事即将发生，但目前尚未公开 [1]

Deutsche Bank upping its target from 6550 to 7,000. That's back to its original forecast from the beginning of the year and that is now the second highest target on the street. Here with us with his call is Binky Chada, chief global strategist at Deutsch uh Deutsche Bank.Good to see you Binky. Good to see you Mike. So your the path of your target somewhat reflects the way the market has experienced this year, right.I mean it's a a major scare. We needed to re-evaluate a lot of things. tariffs, the economy, ...

Market Dynamics - Hyperliquid's annual revenue flips $191 million from Circle to Hype buybacks in 6 days [1] - Daily buybacks jump from $2.7 million to $3.2 million, representing an increase of approximately 185% [1] - qianbaidu.eth deployed $14 million in 48 hours [1] - Saudi sovereign wealth is accumulating 800,000 tokens across protocols [1] Market Sentiment - Market is pricing this like the vote already failed [1]

Demand & Revenue - Daily revenue is estimated at ~$900 thousand - $1 million based on moving ~18 thousand - 20 thousand packs/day at $50 each [1] - Gross run rate is roughly $30 million/month, despite supply bottlenecks [1] - Demand significantly outweighs supply, which is considered bullish for the company [1] - 17% of total users contributed to 928% of total gachapon spending [1] - 496% of users spent > $1 thousand [1] Margins & Profitability - Some estimates put net profit at ~10% of gross sales, resulting in $85 thousand - $100 thousand/day profit [1] - Benchmarks show a true margin of ~215% net of buybacks across $203 million spent, suggesting the company's model could be significantly more profitable [2] - Base case: $25 million/month net profit is achievable with current constrained operations [4] - Bull case: With supply normalized + recurring buybacks, the company could easily scale into $7-10 million/month net profit [4] Recurring Revenue & Business Model - 95%+ of cards are sold back within 24 hours [2] - One-time sales yield ~10%, but recurring buy-sell loops create compounding 5% margins each cycle [2] - The company is evolving into a recurring revenue marketplace with margins closer to 20%+ [3] - The company is now more of an exchange or perpetual yield machine, monetizing trading flow continuously [2] Strategic Outlook - The key question is how much of the revenue/profit flows into the $CARDS token [3] - The company needs to onboard more fresh card inventory to keep up with demand [4] - Proper infrastructure would allow them to handle 9-figure inventory inflows [4]

sellers cannot outrun $5m daily buybacks. ...

Key Thesis - Pumpdotfun 的核心观点与六周前以当前价格购买 13.2 亿美元的公开和私募股份时相同 [1] - 主要假设的风险已经降低 [1] Buybacks - 他们表明愿意用 100% 的收入回购 $PUMP [1] Fundamentals - (No specific fundamentals mentioned in the provided content)