Macro, money, and the forces reshaping the financial system. The stories behind the headlines.
1,003 posts
Iran's rial approached 1.95 million per dollar on July 20, down roughly 33% since January. The IMF projects 68.9% average inflation and economic contraction in 2026. The official m…
Four mining pools held more than 70% of Bitcoin's hashrate in a June 2026 snapshot. With a Nakamoto coefficient of 3, pool concentration has moved from theoretical concern to opera…
Iran formally replaced US-controlled GPS with China's BeiDou satellite system after GPS jamming crippled its weapons during the 2025 Israel-Iran war. By early 2026, strike accuracy…
What a Bitaxe is, the 2026 models, what it costs, the real solo-mining odds, and how a $150 open-source miner just won a full Bitcoin block.
Iran struck Kuwait Petroleum Corporation oil infrastructure and a second power/desalination plant on Saturday July 18, causing fires and injuries, as Hormuz tanker traffic grinds t…
At residential power rates, no ASIC mines Bitcoin at a profit in 2026. The honest guide to mining at home, hosting it, or skipping it.
OMB Director Russell Vought told Congress the Iran war cost roughly $30 billion. Internal Defense Department estimates say $80 to $100 billion. Independent analysis puts the direct…
Iran has asked the Houthis to stand ready to close the Bab el-Mandeb Strait if the U.S. strikes Iranian power infrastructure, per a Reuters exclusive. With Hormuz already disrupted…
China's export licensing regime has cut US yttrium shipments by roughly 95%. Industry executives warn of production halts before year-end. The AI capex boom is hostage to Beijing's…
The private credit market, a $2.5T+ shadow-banking system that captured the majority of marginal U.S. credit creation over the past two years, is failing its first real stress test…
Fed Chair Kevin Warsh delivered a sharp 'no bailout' line to Congress on July 14, then immediately preserved the Fed's discretion to intervene in extraordinary circumstances. The h…
Larry Fink declared Bitcoin's leverage problem a past-tense event on CNBC July 15. That framing is an institutional permission slip, and IBIT's $138.9M single-day inflow shows capi…
B Treasury Capital AB's BTC PREF preference shares begin trading July 20 on Sweden's Spotlight Stock Market, offering a 10% annual dividend funded by a Bitcoin treasury. The rights…
Glassnode's Cryptovizart flagged a rollover in the 30-day SMA of realized losses from Bitcoin's 1-2 year holder cohort. Historically, that reversal has marked the end of a bear mar…
The SEC approved NYSE Arca's rule change raising IBIT options position and exercise limits from 250,000 to 1 million contracts, effective immediately, placing Bitcoin's largest ETF…
Orange Juice, founded by the ego death capital team including Lyn Alden and Jeff Booth, raised $40M to acquire U.S. businesses and route their cash flows into a Bitcoin treasury, a…
Three Saronic Corsair unmanned surface vessels struck Iran's Bandar Abbas Naval Base on July 12 in the first-ever combat use of US sea drones. Brent crude surged 9.59%. Washington…
Japan's National Diet passed landmark FIEA legislation on July 15 reclassifying Bitcoin and roughly 104 other crypto assets as financial instruments, building the architecture for…
Dr. Ko Ju-Chun, a sitting Taiwanese legislator, puts an 80% probability on Taiwan establishing a Bitcoin strategic reserve within five years, contingent on a center-right electoral…
CleanSpark signed a 20-year, $6.6B triple-net data center lease with an unnamed investment-grade tech company. The same tenant holds an LOI on 885 MW of CleanSpark's Texas portfoli…
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Independent writing by Marty Bent at TFTC since 2017. Money, markets, AI, energy and privacy, delivered free to your inbox.
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