STRC is now trading 35% of MSTR's daily share volume on a 7-day MA. SATA is at 6% of ASST. But that's the wrong number. Run the dollar volume instead. Over the last 30 days: MSTR ~$2.96B/day · STRC ~$409M/day → STRC = 14% of MSTR's dollar flow ASST ~$55M/day · SATA ~$19M/day → SATA = 35% of ASST's dollar flow The ratio inverts because share volume hides what par-priced instruments actually move. A SATA share trades at ~$100. An ASST share trades at ~$17. One SATA print is six ASST prints. Of every dollar of capital touching the Strategy stack on a given day, 12¢ goes through STRC. Of every dollar touching the Strive stack, 26¢ goes through SATA. Strive's preferred is doing more of the work for its common than Strategy's is, proportional to the size of each ecosystem. In absolute terms STRC is a $400M+ daily market. SATA is still a $19M one. The instrument is real on both sides. The scale isn't comparable yet. Watch the trajectory. STRC went from 4% of MSTR share volume in November to 35% today. Six months. But remember, SATA is a LOT newer than STRC. The same curve is starting to bend on SATA - 2% to 6% over the same window - just from a smaller base. Can't wait to continue watching digital credit adoption in real time... especially with daily and semi-monthly dividends for the instruments.

Sometimes, its a good idea to flip $BTC inverted. Different perception. Do you see any major players building long positions here, or do you think they’re more likely to derisk? I would rather go with the second option.

Anthropic admitted they built an AI so capable they were scared to release it and the number that explains why is 250. Anthropic's CFO Krishna Rao described in this clip what happened when they ran Mythos against an open source codebase that a previous frontier model had already analyzed. The prior model found 22 security vulnerabilities, Mythos found 250. In the same codebase, that the previous model had already reviewed and flagged as relatively clean. That number, more than 11 times as many vulnerabilities discovered is not just a benchmark improvement, it is a signal that there is an entire layer of software infrastructure that humanity has been operating under the assumption was secure and that assumption may no longer hold. The UK AI Security Institute independently evaluated Mythos Preview and confirmed what the internal numbers suggested. On expert level capture the flag challenges that no model could complete before April 2025, Mythos succeeded 73% of the time and it became the first model ever to complete a complex end-to-end attack range from start to finish, autonomously, without human guidance. The World Economic Forum called this a new security-driven era for AI, the Governor of the Bank of England publicly warned that Anthropic may have found a way to unlock the entire cyber-risk landscape, and the European Central Bank began quietly contacting financial institutions to assess their security posture. The response from Anthropic is what makes this story genuinely important. Rather than shelving the model or publishing it as a standard API release, Rao described a phased approach restricting access to a controlled group, focusing specifically on how the cyber capabilities can be used defensively rather than offensively and treating that framework as a template for how to release powerful but dangerous models in the future. The broader context makes that framing even more significant. AI generated code is already creating ten times more security vulnerabilities than human-written code, 63% of organizations reported experiencing an AI driven cyberattack in the past 12 months, and traditional signature-based security tools were built for a threat model that no longer describes the attack surface companies are defending against. Mythos represents a genuine leap in what autonomous security reasoning can do and it cuts both ways. The model that can find 250 vulnerabilities in a codebase a prior model rated as mostly clean is also, in the wrong hands, the model that can exploit those 250 vulnerabilities before a human defender has even finished reading the report. Anthropic's phased release strategy is not just a legal or PR decision, it is the most honest signal yet from a frontier lab that safety governance and capability development can no longer be treated as separate workstreams. The question is not whether this technology gets deployed, it is whether the institutions using it defensively stay ahead of the ones who will eventually use it offensively and whether the labs building it can keep those two timelines from inverting.

I’m so glad AI killed LeetCode interviews. For 10 years, tech companies made every engineer grind the same puzzles and prove they could invert a binary tree from memory. Today, the dumbest AI model can walk in and one-shot the entire interview. Thank you, AI.

The inventor of a the Roomba has a new home robot, but it's not a humanoid robot. In fact, it has four legs and fur. (Photo: Familiar Machines & Magic)

🚨 THE WORLD HAS LOST 10% OF ITS OIL INVENTORIES IN JUST 3 MONTHS. And the market still does not fully understand how serious this supply shock is becoming. Before the war, the Strait of Hormuz moved roughly 20-21 million barrels of oil per day, nearly 20% of global oil consumption. Now flows are collapsing. According to EIA data: • Total oil and liquid flows through Hormuz fell from 20.7 mbpd in Q4 2025 to 14.6 mbpd in Q1 2026. • Crude and condensate flows alone dropped from 15.2 mbpd to 10.7 mbpd. At the same time, Saudi Arabia, Iraq, UAE, and Kuwait together reportedly cut around 6.7 mbpd of production tied to Hormuz disruptions. The inventory draw is becoming massive. Energy Intelligence estimates: • Inventories fell roughly 230 million barrels in March • Another 553 million barrels in April • And at least 200 million more in May That is close to 1 BILLION barrels removed from inventories in just 3 months. The IEA says inventory draws recently reached around 4 mbpd and warns the market could remain “severely undersupplied” until at least October even if the conflict stabilizes sooner. The bigger problem starts after the war. Even if flows normalize, the world still has to rebuild those lost inventories. And rebuilding them may take years. If the current crisis eventually creates a 1-2 billion barrel inventory hole by the time the system fully stabilizes, the market would need roughly 1.8 mbpd of EXTRA surplus supply for 3 straight years just to refill inventories. That is where the real issue appears. This is why the current oil situation matters so much. The market is not only dealing with a war-driven supply shock. It is dealing with a global oil system that already had very little spare capacity left before the crisis even started.

In my first investor meetings, I was the quiet one in the room. I didn't bring commanding energy, nor rehearsed one-liners. Just someone trying to be straight about what I was building and why. What I didn't expect was that this would actually work. What showed was the ability to grasp complex topics fast and explain them back clearly. When a hard question came in, I didn't get flustered but I broke it down and answered it straight. Over a few meetings, I think they started to see something else too: that I was an operator. Someone who would organize, execute, and not leave loose ends. But the thing that closed it was commitment. I showed I would go the extra mile because I was performing conviction and because I genuinely would. They could feel the difference. I've since read a lot about what makes a great fundraiser. The charisma, the timing, the nervous system regulation when the room is ready to write a check. All real. But there's another path nobody talks about enough. Investors don't just back ideas. They back people they believe will figure it out. And "will figure it out" doesn't always look like confidence. Sometimes it looks like depth. The person who does the homework, follows through on the small things, shows up the same whether there's a deal on the table or not. I wasn't the loudest founder in the room. But I think they felt like no obstacle between now and the outcome they wanted would stop me from grinding through it. That's its own kind of conviction. Quieter than most people describe it. But the investors who've worked with me longest recognized it the moment they saw it. You don't have to change who you are to raise. You have to make the thing that's true about you impossible to miss.

The seventh flight test of Starship ended before reaching its ambitious goals. Lessons learned are being applied to future vehicles to make them more reliable. A technical summary of the investigation can be found here →