THE MARKET IS PRICING $ORBS AS IF A LARGE PART OF ITS PORTFOLIO DOESN’T EXIST $ORBS has a market cap of roughly $230M. Yet its latest reported gross assets total nearly $400M: 🔹 ~$149M cash & stablecoins 🔹 ~$110M of $WLD 🔹 ~$30M of $ETH 🔹 ~$90M OpenAI exposure (via SPVs) 🔹 ~$18M Beast Industries 🔹 ~$1M Mythical Games BitMine clearly saw value. It invested $20M into Eightco’s financing, giving shareholders indirect exposure to this portfolio alongside BitMine’s broader strategy. At today’s valuation, the market is valuing $ORBS at barely 0.6x reported gross assets. What exactly is the market missing? Tom Lee @fundstrat and BitMine are invested in Eightco ($ORBS), while @Iamhuman_ORBS is one of the world’s largest publicly disclosed holders of Worldcoin. $WLD $ORBS $BMNR

BITMINE EXECUTES 5.5M SHARE BUYBACK Tom Lee @fundstrat & BitMine repurchased 5.5 million shares over the past week at an average price of $15.62. 🔹 Executed under its $4B authorized buyback program 🔹 Lee: The repurchases are accretive to shareholder value 🔹 Reduces shares outstanding while BitMine continues accumulating $ETH BitMine is buying back its own stock while building the world’s largest Ethereum treasury. $BMNR $ETH

IS CLARITY ACT MOMENTUM BUILDING? 🇺🇸 Rep. Bryan Steil says he's optimistic the Senate will pass the CLARITY Act next week. 🔹 "It's time for the Senate to act." 🔹 Believes clear rules will unlock significant human and financial capital. 🔹 Says the bill protects consumers while driving innovation. 🔹 Says the U.S. must set the global gold standard for digital asset regulation. Regulatory clarity could be one of the biggest catalysts yet for the U.S. crypto industry.

🚨 CPI JUST GAVE CRYPTO A BOOST. Softer than expected inflation increases the probability of easier financial conditions. More liquidity has historically been one of the biggest tailwinds for crypto. One report doesn’t make a trend, but today’s reaction shows what the market is waiting for.

TOM LEE SAYS THE BITCOIN AND ETHEREUM THESIS IS ABSOLUTELY NOT BROKEN. He says people are “rage quitting” crypto near the end of crypto winter because the spotlight is still on AI, semis and software. But the future has not changed. 🔹 AI needs identity + verification 🔹 Wall Street wants tokenization 🔹 Bitcoin still has network value 🔹 Ethereum benefits as assets move on chain Tom says Bitcoin and Ethereum are the future of money. And if Wall Street tokenizes at scale, Ethereum’s price should go up a lot. $BTC $ETH $BMNR

TOM LEE & BITMINE JUST BOUGHT ANOTHER 25,000 ETH. That is $50.56M more Ethereum added while the market is still doubting the trade. 🔹 25,000 ETH 🔹 $50.56M buy 🔹 Bitmine keeps accumulating 🔹 Tom Lee keeps backing Ethereum They are not waiting for sentiment to turn. They are buying before it does. $ETH $BMNR

🚨 TOM LEE SAYS THE MARKET STILL HAS A RUNWAY HIGHER TOM LEE says stocks remain healthy despite higher oil, higher yields and Middle East risk. His key point is simple: The US has two major structural advantages right now. 🔹 AI leadership 🔹 Energy independence 🔹 Resilient earnings 🔹 Trillions in private IPO wealth coming He says SpaceX, OpenAI and other major IPOs could create several trillion dollars of wealth for private investors. That wealth effect becomes a tailwind for the economy later this year. Oil is the risk. AI, earnings and liquidity are the upside. TOM LEE still sees more upside into year end.