Haven’t seen anyone else talk about this yet, so I wanted to bring up an alarming governance vote by World Liberty Fi this month that appears to be the start of a slow extraction of value from WLFI holders by the team: What you see above appears to be a rigged vote, where the majority of top voters are indicated to be team wallets or strategic partner wallets by Bubble Maps. This is in contrast to the real voters lower in the screenshot, who have all been locked from accessing their WLFI tokens since TGE, and unable to vote on an unlock until the team allows it. Instead, the team created the USD1 growth proposal shown here, which at first glance reads as fairly mundane. But it raises the question: why would the team go out of their way to force this vote through, instead of voting on the WLFI token unlock that the majority of holders are asking for? The real motivation becomes clear when you recall the fine print that WLFI holders are not entitled to ANY protocol revenue at all. According to the WLFI Gold Paper on the World Liberty Fi official website, 75% of protocol revenue goes to the Trump family, and 25% goes to the Witkoff family: It’s actually as crazy as it sounds: the team is forcing a vote to sell WLFI tokens at the expense of locked holders, in order to fund protocol revenue that goes only to themselves. This vote was actually failing by the time it reached quorum with a majority of votes rejecting the proposal, until the team / partners forced the vote through. For context, the WLFI team is allocated 33.5% of all tokens and strategic partners another 5.85%, while the public sale was allocated only 20%. Following the vote, we can see fresh transfers such as this one of 500 million WLFI tokens to Jump trading, while investor WLFI allocations remain forcibly locked: Now that WLFI emissions are increasing, it's difficult to see the intrinsic value behind a 17 billion dollar token that has no real governance power, no revenue share, and new foundation sell pressure occurring for their own benefit. I have held short positions on WLFI on and off since pre-market prices above 0.34, and believe it will continue to drop over a longer timeframe due to dilution, intentional extraction, and other factors related to Trump's final term in office.

Here at $86k, this is the first time in a while that BTC feels very nice to me to add for long-term accumulation. BTC trades as a high-beta risk asset on shorter timeframes when equities are weak, but long-term it continues to decouple upward as the world’s choice of digital gold with increasingly scarce supply. Don’t make the mistake of confusing the two investment timeframes when deciding to stack.

For the first time since its nonstop grind down from $17B fdv, I bought some plasma. Since yesterday’s market selloff it has been one of the few coins showing strong relative PA, suggesting finally an exhaustion of sellers; I believe the Cobie thesis may be ready to play out here