When you buy $10,000 of the S&P 500, $4,062 goes to just 10 companies: $839 of NVIDIA $NVDA $738 of Apple $AAPL $578 of Microsoft $MSFT $552 of Google $GOOGL $371 of Amazon $AMZN $254 of Broadcom $AVGO $243 of Meta $META $183 of Micron $MU $152 of Tesla $TSLA $152 of Advanced Micro Devices $AMD The other 490 companies get $5,938

Norway's sovereign wealth fund disclosed an $81.9M BitMine position at June 30 Norges Bank reported 6,151,062 BMNR shares in half-year holdings published Wednesday. The stake was absent from its December filing and gives the fund equity exposure to Ethereum rather than direct ethereum:native. BitMine joined the Russell 1000 on June 26, and neither disclosure shows whether index inclusion drove the buy. @BitMNR reported 5.81 million ETH as of August 9.

Sept 11 Update: #Bitcoin# ETFs: 1D NetFlow: -3,391 $BTC(-$266.76M)🔴 7D NetFlow: -2,921 $BTC(-$229.73M)🔴 #Ethereum# ETFs: 1D NetFlow: -17,723 $ETH(-$46.15M)🔴 7D NetFlow: -21,062 $ETH(-$54.85M)🔴

ASST's +120% Rally - EXPLAINED! ASST more than doubled while its modeled Bitcoin amplification FELL. I pulled apart the rally. The timing is the part that deserves attention. August 14 → September 4, 2026: Bitcoin: $63,062 → $79,747. +26.5%. ASST: $12.315 → $27.14. +120.4%. Using Strive’s dated disclosures, treasury-only CEBE NAV per common share rose from $8.09 to $12.73. That is 57.3% more modeled equity backing per share. The market then increased the price it paid for each dollar of that backing: 1.52× NAV → 2.13× NAV. A 40.1% expansion in the multiple. 1.5728 × 1.4012 = 2.2038. That reconciles the 120.4% rally. Now split the period. August 14–21: Bitcoin +24.3%. ASST +47.9%. Treasury NAV/share +47.0%. Valuation multiple +0.7%. The opening leg was overwhelmingly growth in the treasury residual. August 21–September 4: Bitcoin +1.8%. ASST +49.0%. Treasury NAV/share +7.0%. Valuation multiple +39.2%. The final two weeks were a substantial rerating. And yes, the ledger includes the other side of the financing... the modeled SATA claim rose from $783.0 million to $999.5 million, and the common share count grew 10.3%. Preferred financing has a claim. Common financing has a denominator. Both belong in the math. Freeze the opening valuation multiple and the ending treasury balance sheet reconstructs $19.37 per ASST share... still 57.3% above the starting price. Modeled Bitcoin amplification declined from 1.83× to 1.62×. Bitcoin appreciation itself mechanically reduces this ratio. At a richer premium to the residual, the same dollar of common financing requires fewer new shares. If Strive can execute accretive issuance, some of that market premium can become additional residual value per share. The premium can also compress. The next question is how much of that richer valuation Strive can convert into lasting residual NAV-per-share growth:

Mortal Shell 2 is roasting players for their Steam playtime. Near the final boss, stone tablets reference your most-played games. One player with 16,062 hours in Destiny 2 was asked why they spent so much time there and whether they were “trapped.” That’s about 669 days of Destiny 2. Other players have seen references to games like Elden Ring, Counter-Strike 2, and Baldur’s Gate 3.

281 of 1,343 crypto service providers operating in the EEA held MiCA authorization when the transitional period closed on July 1, 2026. 1,062 did not. Germany authorized 55. Poland authorized none of a register above 1,800. Lithuania, eight of more than 400. Read TRM’s new analysis on where EEA risk actually sits 👉