# ![@DylanLeClair Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1649128015.png) @DylanLeClair Dylan LeClair

Metaplanet, a Japanese company, has secured a $500 million credit facility to fund share repurchases, Bitcoin buys, and expansion of its Bitcoin income generation business. The company has also authorized the repurchase of up to [---] million shares of its common stock. This move aims to increase leverage capacity and enable future optionality.

### Engagements: [---------] [#](/creator/twitter::1649128015/interactions)
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### Mentions: [--] [#](/creator/twitter::1649128015/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1649128015/c:line/m:posts_active.svg)


### Followers: [-------] [#](/creator/twitter::1649128015/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1649128015/c:line/m:followers.svg)


### CreatorRank: [---------] [#](/creator/twitter::1649128015/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1649128015/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[cryptocurrencies](/list/cryptocurrencies)  [finance](/list/finance)  [stocks](/list/stocks)  [currencies](/list/currencies)  [exchanges](/list/exchanges)  [countries](/list/countries)  [technology brands](/list/technology-brands)  [automotive brands](/list/automotive-brands)  [us election](/list/us-election)  [celebrities](/list/celebrities) 

**Social topic influence**
[bitcoin](/topic/bitcoin) #5462, [$btc](/topic/$btc), [money](/topic/money), [debt](/topic/debt), [#bitcoin](/topic/#bitcoin), [$mstr](/topic/$mstr), [inflation](/topic/inflation), [mstr](/topic/mstr), [binance](/topic/binance), [japan](/topic/japan)

**Top accounts mentioned or mentioned by**
[@metaplanetjp](/creator/undefined) [@saylor](/creator/undefined) [@gerovich](/creator/undefined) [@prestonpysh](/creator/undefined) [@dotkrueger](/creator/undefined) [@davidfbailey](/creator/undefined) [@lynaldencontact](/creator/undefined) [@elonmusk](/creator/undefined) [@microstrategy](/creator/undefined) [@cvpayne](/creator/undefined) [@peterschiff](/creator/undefined) [@pledditor](/creator/undefined) [@dampedspring](/creator/undefined) [@strategy](/creator/undefined) [@m4arpa](/creator/undefined) [@bitcoinmagazine](/creator/undefined) [@udiwertheimer](/creator/undefined) [@wifeyalpha](/creator/undefined) [@txmctrades](/creator/undefined) [@bitpaine](/creator/undefined)

**Top assets mentioned**
[Bitcoin (BTC)](/topic/bitcoin) [Strategy (MSTR)](/topic/$mstr) [Grayscale BTC ETF (GBTC)](/topic/$gbtc) [Coinbase Global Inc. (COIN)](/topic/coinbase) [USDC (USDC)](/topic/usdc) [BlackRock Inc (BLK)](/topic/blackrock) [Metaplanet Inc. (MTPLF)](/topic/$mtplf) [Shoulder Innovations, Inc. (SI)](/topic/$si) [Strategy Incorporated (STRF)](/topic/$strf) [Reserve (RSV)](/topic/reserve) [Strike (STRK)](/topic/$strk) [Ethereum (ETH)](/topic/ethereum) [Stride (STRD)](/topic/$strd) [BNB (BNB)](/topic/$bnb) [Signature Bank (SBNY)](/topic/$sbny) [NVIDIA Corp. (NVDA)](/topic/$nvda) [Mario Coin (COIN)](/topic/$coin) [Vixco (VIX)](/topic/$vix) [Tesla, Inc. (TSLA)](/topic/$tsla) [iShares BTC Trust (IBIT)](/topic/$ibit) [SPX6900 (SPX)](/topic/$spx)
### Top Social Posts
Top posts by engagements in the last [--] hours

"Medical science experts from Harvard Johns Hopkins and Stanford testifying before Congress: The greatest perpetrator of misinformation during the pandemic has been the U.S. government. The awakening. Good morning"  
[X Link](https://x.com/DylanLeClair/status/1631624816544428033)  2023-03-03T11:57Z 431.9K followers, 638.2K engagements


"Why Does MicroStrategy Continue To Feverishly Accumulate Bitcoin MicroStrategys bitcoin strategy is simple: sell software take profit and store value just not in dollars"  
[X Link](https://bitcoinmagazine.com/markets/why-does-microstrategy-continue-to-feverishly-accumulate-bitcoin)  2021-03-16T06:35Z 3.8M followers, [---] engagements


"CFO Of Worlds Largest Hedge Fund Joins NYDIG To Focus On Bitcoin CFO of Bridgewater Associates the worlds largest hedge fund John Dalby has joined NYDIG to work on Bitcoin services"  
[X Link](https://bitcoinmagazine.com/business/bridgewater-cfo-joins-nydig-bitcoin-team)  2021-05-10T23:58Z 3.8M followers, [--] engagements


"DCG Authorizes $750 Million In GBTC Purchases As Discount Persists Grayscales parent company authorized up to $750 million in GBTC purchases as the trusts shares continue to trade at a discount to NAV"  
[X Link](https://bitcoinmagazine.com/business/dcg-authorizes-750m-more-in-gbtc-buys)  2021-05-03T23:46Z 3.7M followers, [---] engagements


"Is The Largest Difficulty Adjustment In Bitcoins History Incoming The Bitcoin network faces its largest difficulty adjustment of all time"  
[X Link](https://bitcoinmagazine.com/markets/largest-difficulty-adjustment-in-bitcoin-history)  2021-06-30T16:19Z 3.8M followers, [----] engagements


"GBTC Redemptions Stealing Bitcoin Spot Demand As the Grayscale Bitcoin Trust trades at a discount demand won't be reflected in the bitcoin price"  
[X Link](https://bitcoinmagazine.com/markets/gbtc-stealing-bitcoin-spot-demand)  2021-06-25T17:38Z 3.8M followers, [---] engagements


"The Conclusion Of The Long-Term Debt Cycle And The Rise Of Bitcoin The conclusion of the long-term debt cycle is an inescapable economic reality that coincides with the ascent of the Bitcoin Network"  
[X Link](https://bitcoinmagazine.com/markets/the-conclusion-of-the-long-term-debt-cycle-and-the-rise-of-bitcoin)  2022-11-30T11:45Z 3.9M followers, 29.3K engagements


"As Fed Commits To Holding Interest Rates At 0% More Investors Will Turn To Bitcoin The Federal Reserve has committed to keeping the fund rate at zero or near zero maintaining the bull case for bitcoin"  
[X Link](https://bitcoinmagazine.com/markets/as-fed-holds-0-interest-bitcoin-wins)  2021-04-29T01:05Z 3.9M followers, 278.4K engagements


"Tick Tock Impending Bitcoin Supply Shock Demand for the absolutely scarce inelastic monetary asset that is bitcoin continues to increase and the price will eventually react"  
[X Link](https://bitcoinmagazine.com/markets/impending-bitcoin-supply-shock)  2021-08-09T13:02Z 3.8M followers, [----] engagements


"CME Group Introduces Micro Bitcoin Futures Contract CME Group one of the largest derivatives marketplace in the world has introduced a micro bitcoin futures contract"  
[X Link](https://bitcoinmagazine.com/markets/cme-group-introduces-micro-bitcoin-futures-contract)  2021-03-31T22:27Z 3.7M followers, [--] engagements


"Report: $48 Billion Hedge Fund Millennium Management Had GBTC Exposure Millennium Management one of the worlds largest hedge funds reportedly had exposure to Grayscale Bitcoin Trust as NAV fell steeply"  
[X Link](https://bitcoinmagazine.com/markets/report-48-billion-hedge-fund-millennium-management-had-gbtc-exposure)  2021-08-18T20:28Z 3.8M followers, 12.3K engagements


"Report: George Soros' Investment Fund To Start Trading Bitcoin Soros Fund Management led by a world famous investor has reportedly received approval to trade bitcoin"  
[X Link](https://bitcoinmagazine.com/markets/george-soros-fund-trading-bitcoin)  2021-07-04T17:30Z 3.8M followers, [--] engagements


"@TheBTCCommunity @hodl_american @TraceMayer So is mimblewimblecoin the future"  
[X Link](https://x.com/DylanLeClair_/status/1255857157704122369)  2020-04-30T13:50Z 368.4K followers, [--] engagements


"@ScotchStocks @Benaskren End the Fed"  
[X Link](https://x.com/DylanLeClair_/status/1284696670878535688)  2020-07-19T03:48Z 417.7K followers, [--] engagements


"@AlanDersh Youre an absolute psychopath"  
[X Link](https://x.com/DylanLeClair_/status/1289074611997401088)  2020-07-31T05:45Z 369.6K followers, [---] engagements


"Wall Street has been put on notice. #Bitcoin is the new stock buyback. Game theory is playing out exactly how we all thought"  
[X Link](https://x.com/DylanLeClair_/status/1293180221412143110)  2020-08-11T13:39Z 422.6K followers, [---] engagements


"The only equity I own is $MSTR"  
[X Link](https://x.com/DylanLeClair_/status/1294354239444197377)  2020-08-14T19:24Z 367.5K followers, [---] engagements


"Will the United States: 1) Explicitly default on its debt 2) Implicitly default on its debt through currency devaluation I think we all know the answer"  
[X Link](https://x.com/DylanLeClair_/status/1299342328553975810)  2020-08-28T13:45Z 368.9K followers, [--] engagements


"$MSTR is up 17.9% since announcing they have started holding #Bitcoin as their primary treasury reserve asset with no major changes to their fundamental business. Every Fortune [---] CEO and CFO has been put on notice. Accumulate #Bitcoin at all costs"  
[X Link](https://x.com/DylanLeClair_/status/1305914015252611075)  2020-09-15T16:58Z 367.9K followers, [---] engagements


"With just two charts @michael_saylor and @MicroStrategys decision to hold #Bitcoin as the companys primary reserve treasury asset can be explained. Its quite simple folks. Run the numbers"  
[X Link](https://x.com/DylanLeClair_/status/1305924950885306372)  2020-09-15T17:42Z 368.4K followers, [--] engagements


"@theonevortex The largest wealth transfer ever will happen from fiat creditors to #Bitcoin holders over the next decade"  
[X Link](https://x.com/DylanLeClair_/status/1307351835653570561)  2020-09-19T16:12Z 415.4K followers, [---] engagements


"@My_Livin_Truth @IwanRabbinstein @Nakadai_mon @LaserHodl @PsychedelicBart @dickc @pt @Jason @coinbase"  
[X Link](https://x.com/DylanLeClair_/status/1311488911814860803)  2020-10-01T02:11Z 368.3K followers, [--] engagements


"Is this good This seems good. $SQ #BTC"  
[X Link](https://x.com/DylanLeClair_/status/1324469916477673480)  2020-11-05T21:53Z 368.3K followers, [--] engagements


"LOL @RaoulGMI thinks the global financial system can be built over ETH. It cant handle meme coins"  
[X Link](https://x.com/DylanLeClair_/status/1337237702064955392)  2020-12-11T03:28Z 369.1K followers, [--] engagements


"Update: $MSTR is now up 288%. #TheBigLong $MSTR is up 17.9% since announcing they have started holding #Bitcoin as their primary treasury reserve asset with no major changes to their fundamental business. Every Fortune [---] CEO and CFO has been put on notice. Accumulate #Bitcoin at all costs. $MSTR is up 17.9% since announcing they have started holding #Bitcoin as their primary treasury reserve asset with no major changes to their fundamental business. Every Fortune [---] CEO and CFO has been put on notice. Accumulate #Bitcoin at all costs"  
[X Link](https://x.com/DylanLeClair_/status/1347269265687195649)  2021-01-07T19:49Z 368.3K followers, [--] engagements


"For decades the Fed has embarked on a mission to short VOL at every possible opportunity. In doing so VOL has been transmuted from the financial system to the society at large expressing itself in the forms of wealth disparity and mass social unrest. Risk cannot be eliminated just hidden and transmuted. #Bitcoin Risk cannot be eliminated just hidden and transmuted. #Bitcoin"  
[X Link](https://x.com/DylanLeClair_/status/1379084340043341831)  2021-04-05T14:51Z 368.4K followers, [---] engagements


"Aggregate Open Interest on Bitcoin Futures is now sitting at $23 Billion and climbing. Few understand how powerful the reflexive loop of contango + a growing Bitcoin derivatives market is against hundreds of trillions of dollars in 0% real yield fiat fixed income"  
[X Link](https://x.com/DylanLeClair_/status/1380198964146896896)  2021-04-08T16:40Z 369K followers, [---] engagements


"For anyone thinking of buying $COIN you just might want to use the right unit of account. https://bitcoinmagazine.com/markets/coinbase-is-severely-overvalued-at-1500000-btc https://bitcoinmagazine.com/markets/coinbase-is-severely-overvalued-at-1500000-btc"  
[X Link](https://x.com/DylanLeClair_/status/1382344586807418880)  2021-04-14T14:46Z 368.2K followers, [---] engagements


"$GBTC is trading at a -6.17% discount to NAV despite various efforts to get the trust back trading around NAV. 654k BTC is locked in the trust"  
[X Link](https://x.com/DylanLeClair_/status/1382375751824068608)  2021-04-14T16:50Z 368.3K followers, [--] engagements


"Silvergate Capital who recently partnered with Fidelity & Coinbase announced they approved $197 Million in credit lines w/ Bitcoin as collateral this quarter. Silvergate is a Federal Reserve member bank. The company first announced their leverage product offering last June"  
[X Link](https://x.com/DylanLeClair_/status/1386794105791991808)  2021-04-26T21:27Z 368.3K followers, [---] engagements


"$GOOG decided to buy $50 Billion of their own stock & decapitalize their business instead of stacking. #Bitcoin at $1 Trillion is still quite small & not liquid enough for many large capital allocators to secure a large position. Keeping an eye on $FB after market close"  
[X Link](https://x.com/DylanLeClair_/status/1387434407003402245)  2021-04-28T15:51Z 367.4K followers, [---] engagements


"Bitcoin Miner Daily Revenue hit another ATH this past week coming in at an average daily haul of $64.3 Million. Number go up"  
[X Link](https://x.com/DylanLeClair_/status/1390809444976574476)  2021-05-07T23:23Z 368.4K followers, [--] engagements


"This is the reason that the Bitcoin price cannot be artificially suppressed like Gold has with the paper markets. There will always be markets somewhere in the world that trade open and freely and the pricing in these markets will serve as the signal. 2/2"  
[X Link](https://x.com/DylanLeClair_/status/1393235427851743235)  2021-05-14T16:03Z 403.4K followers, [--] engagements


"BTC Perps Funding flipped negative yesterday one of the few times it has occurred since the start of [----]. Negative funding during the middle of bull market is a major buy signal. I hope you bought the dip. 👀🤷♂"  
[X Link](https://x.com/DylanLeClair_/status/1393275959067955204)  2021-05-14T18:44Z 368.8K followers, [---] engagements


"Elon is going to be one of the biggest proponents of the central bank digital currency. In retrospect it was inevitable"  
[X Link](https://x.com/DylanLeClair_/status/1394092926272221192)  2021-05-17T00:50Z 368.4K followers, [---] engagements


"Opportunistic whales saw this & deposited to exchanges & began relentlessly selling spot knowing the the size of underwater long positions. Elevated $BTC inflows to exchanges shortly before the major liquidations showed this developing. 5"  
[X Link](https://x.com/DylanLeClair_/status/1395053816538701827)  2021-05-19T16:28Z 368.3K followers, [---] engagements


"Youll often see charts from Weimar Germany of gold priced in the paper mark going parabolic. What that chart doesnt show is the sharp drawdowns & volatility that occurred during the hyper-inflationary period. Speculating using leverage got wiped out multiple times. $BTC 1/2"  
[X Link](https://x.com/DylanLeClair_/status/1396518689177063429)  2021-05-23T17:29Z 426.8K followers, [----] engagements


"The Feds Balance sheet has hit another all time high of $7.922 trillion as $92.2 billion in debt was monetized over the past week alone. The printing press is still out in full force got $BTC"  
[X Link](https://x.com/DylanLeClair_/status/1396895224320847875)  2021-05-24T18:25Z 368.4K followers, [---] engagements


"@PeterSchiff Check out this line on $EPIVX: The EuroPac International Value Fund its gone absolutely nowhere in a decade. I mean just look at the line"  
[X Link](https://x.com/DylanLeClair_/status/1402084392122597376)  2021-06-08T02:05Z 405.4K followers, [--] engagements


"1) $MSTR issues debt to buy $BTC 2) $BTC against debt $MSTR mktcap 3) $MSTR mktcap weight in indices 4) $MSTR issues equity to buy $BTC 5) $BTC $MSTR mktcap weight in indices 6) $MSTR issues more equity to buy $BTC total $BTC Repeat. 🔄🔄"  
[X Link](https://x.com/DylanLeClair_/status/1404808205671206927)  2021-06-15T14:29Z 411.9K followers, [----] engagements


"@arush @FossGregfoss possibly a sale but most likely much less than was acquired. depending on rates he very well might just borrow more $$$ collateralized by the BTC holdings"  
[X Link](https://x.com/DylanLeClair_/status/1404819427288403968)  2021-06-15T15:13Z 376.4K followers, [--] engagements


"Daily #Bitcoin Miner Revenue (7d MA) is down 70% from the peak of $67.5 million in early May to $20.7 million today. The difficulty adjustment now estimated to come in at -26.8%"  
[X Link](https://x.com/DylanLeClair_/status/1410237097932382210)  2021-06-30T14:01Z 368.4K followers, [--] engagements


"If a #Bitcoin critic cant even explain the difficulty adjustment during an argument ignore them"  
[X Link](https://x.com/DylanLeClair_/status/1411339759620968449)  2021-07-03T15:03Z 375.6K followers, [---] engagements


"Real junk bond yields are negative even before accounting for the probability of default. The system is irreversibly broken. Opt out with #Bitcoin"  
[X Link](https://x.com/DylanLeClair_/status/1413561601991532544)  2021-07-09T18:12Z 368.6K followers, [---] engagements


"@PARABOLIT Funding is negative. Lot of low leverage shorts piled on. Very different. Also this is stabelcoin margined and not coin margined which has convexity to the downside (major reason for the May 19th blowup)"  
[X Link](https://x.com/DylanLeClair_/status/1417075342578176004)  2021-07-19T10:54Z 368.4K followers, [--] engagements


"The $GBTC discount has begun to trend back towards 0%. The discount made it up to as high as -3.4% this week and is currently at -7.6%"  
[X Link](https://x.com/DylanLeClair_/status/1420110269079031820)  2021-07-27T19:54Z 368.4K followers, [---] engagements


"Tax the [--] words in my head Elizabeth. https://x.com/ODELL/status/1420365767980224515/video/1 https://x.com/ODELL/status/1420365767980224515/video/1"  
[X Link](https://x.com/DylanLeClair_/status/1420372407768977412)  2021-07-28T13:15Z 368.1K followers, [----] engagements


"It looks to me that the U.S. Government has a spending problem regardless of tax receipts. I'm sure more stimulus monetized by the Fed will fix this. Protect yourself"  
[X Link](https://x.com/DylanLeClair_/status/1420410588887404544)  2021-07-28T15:47Z 368.3K followers, [--] engagements


"Honestly let the SEC take their time with the ETF approval. Let the entrepreneurs and engineers build #Bitcoin native financial services while $100 trillion in bonds sits idle. Ill keep stacking straight to my cold storage in the meantime"  
[X Link](https://x.com/DylanLeClair_/status/1428540297856917512)  2021-08-20T02:12Z 368.4K followers, [---] engagements


"4. Here is the same data showing the rolling 30-day change in illiquid supply. A big puke and a derivative market blowup in May lead to a massive amount of BTC to hit the market. This took a while to be reabsorbed but a full re-accumulation looks to have taken place"  
[X Link](https://x.com/DylanLeClair_/status/1429874021236199428)  2021-08-23T18:31Z 368.3K followers, [---] engagements


"5. There is a STRONG correlation between illiquid supply and price over the last [--] months. My good friend @WClementeIII has been ALL over this and actually created a ratio between illiquid and liquid supply. I'm sure this relationship is entirely a coincidence 😉"  
[X Link](https://x.com/DylanLeClair_/status/1429874026613194762)  2021-08-23T18:31Z 367.4K followers, [---] engagements


"$BTC is going to see 10k daily green candles in [----] and no one is ready for it"  
[X Link](https://x.com/DylanLeClair_/status/1432356212612505601)  2021-08-30T14:55Z 414.5K followers, [----] engagements


"Bitcoiners don't want or need a bailout. If the BTC/USD exchange rate tanks that's the free market at work. Blocks will keep being mined. What I do know is my money is engineered to become programmatically harder to produce over time. Can you say the same"  
[X Link](https://x.com/DylanLeClair_/status/1435665019753177093)  2021-09-08T18:03Z 368.4K followers, [---] engagements


"The United States should counter China's decision to ban #bitcoin by fully embracing it and adopting it as a strategic reserve asset. Game theory 101"  
[X Link](https://x.com/DylanLeClair_/status/1441440177055047682)  2021-09-24T16:31Z 372K followers, [----] engagements


"#Bitcoin realized market cap has just surpassed $400 billion a new all time high"  
[X Link](https://x.com/DylanLeClair_/status/1444654285342523395)  2021-10-03T13:23Z 368.4K followers, [----] engagements


"Fantastic thread. Some of the biggest Hawks on the Fed have "stepped down" recently and their replacements will be extremely accommodative. What comes next is more of the same: Perpetual asset inflation as a matter of national security. There is no turning back now"  
[X Link](https://x.com/DylanLeClair_/status/1445420031068753922)  2021-10-05T16:06Z 421.3K followers, [---] engagements


"Physical print @BitcoinMagazine coming soon 👀 👀"  
[X Link](https://x.com/DylanLeClair_/status/1446624533029478400)  2021-10-08T23:52Z 424K followers, [---] engagements


"@1MarkMoss Legendary hedge fund manager Nancy has a lot of things on her mind"  
[X Link](https://x.com/DylanLeClair_/status/1448072653512847361)  2021-10-12T23:46Z 368.3K followers, [--] engagements


"#Bitcoin miners generated $428.8 million (6873.72 ) in revenue over the last seven days in exchange for securing the world's most dominant decentralized monetary network"  
[X Link](https://x.com/DylanLeClair_/status/1452695636932009990)  2021-10-25T17:56Z 424.5K followers, [---] engagements


"No I dont want to apply for a loan and get stablecoins in some fintech app. I want to deposit to an address watch the collateral not move on-chain and pull from my credit line at will at a lower APR than standard. Is that too much to ask"  
[X Link](https://x.com/DylanLeClair_/status/1454509857277612034)  2021-10-30T18:05Z 369.2K followers, [---] engagements


"Institutions are currently implementing multi billion dollar accumulation strategies. They're in the market every minute of every day working to secure #bitcoin allocations. Vertical accumulation continues. Just look at the chart. Big money is using TWAP (time-weighted average price) bots to secure positions. The same strategy Saylor used to buy 100k+ BTC is being used by institutions and firms around the world. They're currently in the market buying every second of the day. https://t.co/CAmja0KAXt Just look at the chart. Big money is using TWAP (time-weighted average price) bots to secure"  
[X Link](https://x.com/DylanLeClair_/status/1457860924027641866)  2021-11-09T00:01Z 376K followers, [---] engagements


"In terms of #bitcoin bull market support the cost basis of short term holders is a key level. A look at the ratio of short term holder cost basis and price over time shows clear trends during bull/bear cycles. The cost basis of short term holders currently is $52700"  
[X Link](https://x.com/DylanLeClair_/status/1463209653253382144)  2021-11-23T18:15Z 368.4K followers, [---] engagements


"If you found any of this thread valuable check out The Deep Dive where I publish market analysis daily with @BitcoinMagazine. http://deepdivebtc.substack.com/welcome http://deepdivebtc.substack.com/welcome"  
[X Link](https://x.com/DylanLeClair_/status/1469742094436683778)  2021-12-11T18:53Z 382.3K followers, [---] engagements


"$BTC pushing to new highs against the Turkish Lira as the currency crashes to new lows against the $USD. During a currency collapse with capital controls a non-sovereign apolitical hard capped digital store of value serves as an economic life raft for millions. #Bitcoin"  
[X Link](https://x.com/DylanLeClair_/status/1471929333010903052)  2021-12-17T19:44Z 369.6K followers, [----] engagements


"Quick $BTC market update 🧵"  
[X Link](https://x.com/DylanLeClair_/status/1472676511379566593)  2021-12-19T21:13Z 381.4K followers, [----] engagements


"1. Perps funding moderately positive. Bearish sentiment and de-risking into years end has the funding rate almost flat"  
[X Link](https://x.com/DylanLeClair_/status/1472676515997523972)  2021-12-19T21:13Z 381.4K followers, [---] engagements


"Dollar cost averaging into #Bitcoin weekly throughout [----] has you outperforming all but three hedge funds on Wall Street. [----] HF performance per Bloomberg https://t.co/N8KblOyDFw [----] HF performance per Bloomberg https://t.co/N8KblOyDFw"  
[X Link](https://x.com/DylanLeClair_/status/1476702894472761344)  2021-12-30T23:53Z 424.4K followers, [---] engagements


"@mozilla @dogecoin @BitPay Lmao these replies. many are ngmi"  
[X Link](https://x.com/DylanLeClair_/status/1477349497655205894)  2022-01-01T18:42Z 369.4K followers, [---] engagements


"$BTC options market is increasingly betting on further price consolidation as implied volatility continues to fall"  
[X Link](https://x.com/DylanLeClair_/status/1478155804943523844)  2022-01-04T00:06Z 368.9K followers, [---] engagements


"Junk bonds turning over. $JNK"  
[X Link](https://x.com/DylanLeClair_/status/1480586222766637060)  2022-01-10T17:03Z 368.4K followers, [---] engagements


"Update: Any capital inflows have been marginally offset by losses from top buyers. Realized market capitalization stagnant since late November. Personal strategy for last month has been to continuing stacking $BTC daily and selling short term volatility tails for a premium"  
[X Link](https://x.com/DylanLeClair_/status/1482020122793426946)  2022-01-14T16:01Z 382.2K followers, [--] engagements


"$BTC makes up 109.1% of $MSTR's market cap. $MSTR is essentially a 1.09X leveraged $BTC ETF with a cash-flowing Business Intelligence business as a kicker"  
[X Link](https://x.com/DylanLeClair_/status/1483927558559350784)  2022-01-19T22:21Z 367.8K followers, [----] engagements


"Eurodollar futures a market for the expected Feds funds rate is now pricing in [--] rate hikes by December of [----]. When easy money monetary policy is expected to tighten markets react. 2/"  
[X Link](https://x.com/DylanLeClair_/status/1485413609844920325)  2022-01-24T00:46Z 368.4K followers, [---] engagements


"The lower that risk assets plunged the lower the market's expectation of Fed rate hikes in [----] went. Funny how that works"  
[X Link](https://x.com/DylanLeClair_/status/1485722130218209281)  2022-01-24T21:12Z 368.4K followers, [----] engagements


"@WendyRogersAZ A scam Wendy. A centralized company (Ripple) created XRP and have dumped billions of these tokens on uniformed retail investors"  
[X Link](https://x.com/DylanLeClair_/status/1488343081690832900)  2022-02-01T02:46Z 375.4K followers, [----] engagements


"U.S. long bond about to take out multi-year lows down 6.7% since December. Traditional 60/40 portfolio weighting getting cooked"  
[X Link](https://x.com/DylanLeClair_/status/1489624923815485444)  2022-02-04T15:40Z 368.5K followers, [---] engagements


"Many bitcoiners feel uncomfortable keeping [----] BTC in a hot wallet and the BitFinex hackers kept the private keys to $3 billion worth of bitcoin in a dropbox cloud storage file. Unbelievable"  
[X Link](https://x.com/DylanLeClair_/status/1491121856707203072)  2022-02-08T18:48Z 387.4K followers, [----] engagements


"- Corporate credit markets rolling over. - USD strengthening for most all of [----] - Equity market multiples getting crushed - Heightened vol across risk assets remains. Fed is stuck with no good choices; either popping everything asset bubble or letting inflation run. 1/🧵"  
[X Link](https://x.com/DylanLeClair_/status/1494355019793063943)  2022-02-17T16:56Z 368.2K followers, [---] engagements


"Rising rates (even if still negative in real terms) has broad implications for financial markets; among the largest is plummeting equity market valuations. Displayed below is $SPX earnings yield (inverse of P/E ratio). Rising rates = Lower earnings multiples = stocks down 8/"  
[X Link](https://x.com/DylanLeClair_/status/1496363246848196611)  2022-02-23T05:56Z 368.5K followers, [---] engagements


"This has led corporate debt relative to cashflow to ATHs. So not only are equity valuations falling due to a higher discount rates but financing costs are rising with historic levels of indebtedness = A death blow. 13/"  
[X Link](https://x.com/DylanLeClair_/status/1496363276942389252)  2022-02-23T05:56Z 368.4K followers, [---] engagements


"What does this all mean going forward Volatility and lot's of it. Here is $VIX (S&P [---] volatility index) and high yield corporate credit spreads over time. Market volatility (or lack thereof) is a direct result of credit market liquidity. 14/"  
[X Link](https://x.com/DylanLeClair_/status/1496363282210463744)  2022-02-23T05:56Z 368.5K followers, [---] engagements


"Russia has announced military action on Ukraine. U.S. equity markets are plunging with Nasdaq futures down 2.64% with the market's expectation of Fed rate hikes falling in tandem"  
[X Link](https://x.com/DylanLeClair_/status/1496694961823264771)  2022-02-24T03:54Z 368.4K followers, [---] engagements


"I am still of the belief that the generational bottom for $BTC comes after a wide-scale liquidity crunch and equity market capitulation - we're not there yet. Credit and energy are telling you something. Every surge in energy prices of this magnitude has triggered a recession"  
[X Link](https://x.com/DylanLeClair_/status/1499429571795595268)  2022-03-03T17:00Z 368.3K followers, [----] engagements


"@WClementeIII And by recession I mean a supply shortage driven commodity boom leading to demand collapse along with a massive unwind in credit markets and explosion in volatility leading the Fed inevitably to yield curve control. Irresponsible leverage will be liquidated along the way"  
[X Link](https://x.com/DylanLeClair_/status/1500660142504878081)  2022-03-07T02:30Z 381.1K followers, [---] engagements


"For long-term convicted bitcoin stackers/HODLers you have nothing to be worried about. No counter-party risk no exchange rate risk. Likely just a better bang for your $$ over the short/intermediate turn. The response to a credit collapse will be additional monetary easing"  
[X Link](https://x.com/DylanLeClair_/status/1501227880499474433)  2022-03-08T16:06Z 368.9K followers, [---] engagements


"The idea that a central bank digital currency will be "innovative" in any kind of way and not simply just a tool for additional monetary debasement capital controls and financial surveillance is laughable"  
[X Link](https://x.com/DylanLeClair_/status/1501621391820562435)  2022-03-09T18:10Z 368.4K followers, [----] engagements


"Large global recession is approximately a 100% guarantee at this point. Peak cheap energy dead. Second order effects of increasing trade protectionism and peak globalization arent priced in either. Energy and food shortages are in the midst of developing. Expect turbulence"  
[X Link](https://x.com/DylanLeClair_/status/1503228866587938816)  2022-03-14T04:37Z 368.5K followers, [----] engagements


"Did you know that #UST is planning on buying billions in BTC Yes No Whats UST Yes No Whats UST"  
[X Link](https://x.com/DylanLeClair_/status/1506135090518237187)  2022-03-22T05:06Z 368.4K followers, [---] engagements


"#Bitcoin is digital gold is a lazy analogy thats meant to be conceivable for boomers. The real prize is the credit market"  
[X Link](https://x.com/DylanLeClair_/status/1512411076201226244)  2022-04-08T12:44Z 367.5K followers, [----] engagements


"Hyperbitcoinization is a transfer of wealth from fiat creditors to savers operating on a sound monetary standard"  
[X Link](https://x.com/DylanLeClair_/status/1512411077287583752)  2022-04-08T12:44Z 367.5K followers, [---] engagements


"A historically indebted global economic system is facing one of the sharpest sustained sell offs in credit instruments ever sending yields soaring. Liquidity risks - Insolvency risks - Systematic risk"  
[X Link](https://x.com/DylanLeClair_/status/1513558236632334337)  2022-04-11T16:42Z 368.9K followers, [---] engagements


"I really enjoyed this clip of Stephanie Kelton explaining her view on the current economic environment"  
[X Link](https://x.com/DylanLeClair_/status/1514386370889986049)  2022-04-13T23:33Z 369.3K followers, [----] engagements


"@Data_Always 1) i think USD side of the exchange rate eventually completely breaks down so measurement won't be entirely all that valuable 2) as more market participants come to understand this endgame less supply churns with each cycle leading to less explosive growth in realized cap"  
[X Link](https://x.com/DylanLeClair_/status/1514657062252421134)  2022-04-14T17:29Z 368.4K followers, [--] engagements


"Bonds have been selling off because of convexity and duration - rising yields crush long dated bonds. But under the surface as bonds selloff credit risk in the corporate world is beginning to slowly tick up"  
[X Link](https://x.com/DylanLeClair_/status/1515025876274057226)  2022-04-15T17:54Z 368.2K followers, [---] engagements


"Officials in Weimar Germany ignored the exponentially increasing money supply when addressing the inflation crises and instead used the media to push propaganda that the true cause of the rising prices was a war. Sound familiar"  
[X Link](https://x.com/DylanLeClair_/status/1515754334658744320)  2022-04-17T18:09Z 423.9K followers, [----] engagements


"Fed will eventually be forced to switch back to easing as a deep global recession will follow any sustained period of monetary tightening. Supply chain wreckage from Ukraine conflict & China lockdowns with this level of global indebtedness = sovereign defaults. BTC will fly"  
[X Link](https://x.com/DylanLeClair_/status/1518662165925871619)  2022-04-25T18:44Z 368.3K followers, [---] engagements


"New home sales down 8.6% in March How we likin monetary tightening"  
[X Link](https://x.com/DylanLeClair_/status/1518995586703314946)  2022-04-26T16:49Z 368.4K followers, [---] engagements


"Corporate credit spreads inching their way to [----] highs. So far in [----] the selloff in bonds has been due to duration - a rise in yields in the treasury market. At the same time credit risk in the corporate world continues to increase due to a variety of risk factors"  
[X Link](https://x.com/DylanLeClair_/status/1518997526191517697)  2022-04-26T16:56Z 368.4K followers, [--] engagements


"🚨High yield credit default swaps breaking out🚨"  
[X Link](https://x.com/DylanLeClair_/status/1519088836688625664)  2022-04-26T22:59Z 368.4K followers, [---] engagements


"I don't know who needs to hear this but Coinbase is not worth [-------] BTC. I don't know who needs to hear this but Coinbase is not worth [-------] BTC"  
[X Link](https://x.com/DylanLeClair_/status/1520471479946780674)  2022-04-30T18:33Z 367.5K followers, [---] engagements


"US Treasury bonds hanging just above eight year lows"  
[X Link](https://x.com/DylanLeClair_/status/1522250481560608768)  2022-05-05T16:22Z 368.3K followers, [---] engagements


"Gold breaking out to new all time highs denominated in US Treasury Bonds. 👀👀👀"  
[X Link](https://x.com/DylanLeClair_/status/1522614213834850307)  2022-05-06T16:28Z 368.2K followers, [---] engagements


"@TuurDemeester Waiting on a $VIX superspike and some large BTC liquidations to punt and buy some long dated MSTR call options as a lottery ticket"  
[X Link](https://x.com/DylanLeClair_/status/1523380975853473794)  2022-05-08T19:15Z 424K followers, [---] engagements


"$MSTR -18.46% 😬😬"  
[X Link](https://x.com/DylanLeClair_/status/1523689681413545985)  2022-05-09T15:41Z 369.1K followers, [---] engagements


"LUNA -17% LUNA/BTC -11% UST: $0.9812 Oh boy"  
[X Link](https://x.com/DylanLeClair_/status/1523705764237692928)  2022-05-09T16:45Z 368.2K followers, [---] engagements


"From now on please address me by my full name: Dylan Fixed Income Disrespecter LeClair"  
[X Link](https://x.com/DylanLeClair_/status/1525892210184552453)  2022-05-15T17:33Z 368.3K followers, [--] engagements


"High yield credit default swaps (white) soaring past [----] highs"  
[X Link](https://x.com/DylanLeClair_/status/1527017084617641986)  2022-05-18T20:03Z 368.4K followers, [---] engagements


"Corporate credit spreads 📈📈 The first leg of the equities and bond selloff was due to duration (rising yields) the next leg will be due to rising credit risk"  
[X Link](https://x.com/DylanLeClair_/status/1527320049274724352)  2022-05-19T16:07Z 368.1K followers, [---] engagements


"however low bitcoin needs to go in order for all the scams and rube goldberg machines on a blockchain to go to zero im game send it expeditiously"  
[X Link](https://x.com/DylanLeClair_/status/1527713842821832704)  2022-05-20T18:12Z 424K followers, [----] engagements


"@andresbarca15 Not short BTC. Have been long puts on various credit and equity market plays for much of [----] off and on as well as short some shitcoins. Been super transparent about holding supermajority of wealth in BTC so i think of these as USD hedges"  
[X Link](https://x.com/DylanLeClair_/status/1528452790401519618)  2022-05-22T19:08Z 368.4K followers, [--] engagements


"Celsius is a massive holder of stETH (Liquid staked ETH using Lido) to earn yield on their ETH waiting on the merge to PoS. However staked ETH cannot be unstaked so there are secondary markets to trade stETHETH. The peg is currently breaking. https://twitter.com/Crypto_Joe10/status/1535291346927251456s=20&t=_fj3PfyF0W31fwih5vos0Q https://twitter.com/Crypto_Joe10/status/1535291346927251456s=20&t=_fj3PfyF0W31fwih5vos0Q"  
[X Link](https://x.com/DylanLeClair_/status/1535361229228744708)  2022-06-10T20:40Z 426.8K followers, [---] engagements


"$CEL -27% today. This is what a rush for liquidity in an illiquid market looks like. -96% from ATH and going lower"  
[X Link](https://x.com/DylanLeClair_/status/1535676816408645633)  2022-06-11T17:34Z 381.3K followers, [---] engagements


"@TheRealPlanC @Mashinsky Speculating in defi-ponzi land w/ customer funds to generate yield (most of which is not yield rather just shorting tail risk) while depositors are legally defined as unsecured creditors is something I will speak up against. Anchor Badger DAO etc. Insolvency risk is real"  
[X Link](https://x.com/DylanLeClair_/status/1535795975650168832)  2022-06-12T01:27Z 368.3K followers, [---] engagements


"@cryptomanran @Mashinsky Respectfully Im all set"  
[X Link](https://x.com/DylanLeClair_/status/1535806600082079744)  2022-06-12T02:10Z 369.4K followers, [--] engagements


"Celsius announces all trading and withdrawals have been halted"  
[X Link](https://x.com/DylanLeClair_/status/1536168698146340864)  2022-06-13T02:08Z 368.4K followers, [----] engagements


"🚨High yield credit default swaps🚨"  
[X Link](https://x.com/DylanLeClair_/status/1536444713145974790)  2022-06-13T20:25Z 368.3K followers, [----] engagements


"While everyone is focused on the Celsius collateralized loan the biggest worry for the market may just be their massive stETH position. No resolution in sight"  
[X Link](https://x.com/DylanLeClair_/status/1536794692624465920)  2022-06-14T19:36Z 369.4K followers, [---] engagements


"There is no ETH liquidity in the stETHETH curve pool and the exchange rate is [----] currently. Celsius has borrowed $300 million of stablecoins against $450 million of stETH locked in AAVE (with $150m more of wBTC & wETH). Not a good situation"  
[X Link](https://x.com/DylanLeClair_/status/1536796598445002753)  2022-06-14T19:43Z 368.3K followers, [---] engagements


"@mikealfred @Tylerderden23 Basically have $1.5 billion of assets pledged against $750 million of stablecoin debt with $475m of the assets being entirely illiquid stETH. There's no way they can open the doors until at least after the merge and even then it's doubtful everyone is made whole"  
[X Link](https://x.com/DylanLeClair_/status/1536828640817823744)  2022-06-14T21:51Z 368.4K followers, [---] engagements


"$BTC 1-week implied volatility at 132.99%. Pricing in an absolutely massive move"  
[X Link](https://x.com/DylanLeClair_/status/1536970211034791941)  2022-06-15T07:13Z 417.6K followers, [---] engagements


"Anyone know why the firm raised a down round at a $1b valuation after being valued at $3b in [----] Cold storage is your friend"  
[X Link](https://x.com/DylanLeClair_/status/1537468768280002561)  2022-06-16T16:14Z 368.3K followers, [---] engagements


"The institutions are here Yeah and theyre all levered to the tits getting liquidated. 🫠🫠🫠"  
[X Link](https://x.com/DylanLeClair_/status/1538244473137901570)  2022-06-18T19:37Z 424K followers, [----] engagements


"Adding to original thread chain for posterity. Voyager is insolvent"  
[X Link](https://x.com/DylanLeClair_/status/1539598219897888769)  2022-06-22T13:16Z 413.6K followers, [---] engagements


"Voyager Digital -61.88% $VOYG"  
[X Link](https://x.com/DylanLeClair_/status/1539623061812641792)  2022-06-22T14:55Z 413.9K followers, [---] engagements


"So how much capital did 3AC actually manage that wasnt off balance sheet unsecured debt The layers of fraud continue to unravel"  
[X Link](https://x.com/DylanLeClair_/status/1539661626621988864)  2022-06-22T17:28Z 368.5K followers, [----] engagements


"Physical ASIC run likely to occur with Compass. Missed power payments and increasing customer redemptions for machines. Bad look and judging by these spaces and my DMs a run has looks to have already started"  
[X Link](https://x.com/DylanLeClair_/status/1541907332094894080)  2022-06-28T22:12Z 368.3K followers, [---] engagements


"Restructuring is likely. CEO and CFO dont resign at once by coincidence. Havent seen their balance sheet but I would bet its not pretty. Good luck friends 🫡🫡"  
[X Link](https://x.com/DylanLeClair_/status/1541908373070921729)  2022-06-28T22:16Z 368.1K followers, [---] engagements


".@Mashinsky I am interested in acquiring Celsius for $12 and a follow back. DM me to discuss further details"  
[X Link](https://x.com/DylanLeClair_/status/1542568366510149634)  2022-06-30T17:58Z 423.8K followers, [----] engagements


"@Ehrls15 Are you going to address that both counterparty A & B were 3AC in your Q1 filing At the end of Q1 BTC was $45.5k so [-----] BTC & 350M USDC loans = $1.04B of exposure. Real coincidence that exposure of both was $1.05B. Accounting trick to hide loan book concentration risk"  
[X Link](https://x.com/DylanLeClair_/status/1542961821593833472)  2022-07-01T20:02Z 368.3K followers, [---] engagements


"I was honored to appear on @FoxBusiness this past Friday to discuss the crypto market contagion and the inherent flaws of centralized yield products with @cvpayne"  
[X Link](https://x.com/DylanLeClair_/status/1544383144169771010)  2022-07-05T18:10Z 386.7K followers, [----] engagements


"Voyager has filed for Chapter [--] bankruptcy. Speculation here but in its quarterly report Voyager had loaned $320m to a singapore based entity named "counterparty b". One has to wonder whether "counterparty b" was 3AC and if so how much of a hit Voyager took $VOYG shares are down 33% over the last two days. https://t.co/sCiYskwLEq Speculation here but in its quarterly report Voyager had loaned $320m to a singapore based entity named "counterparty b". One has to wonder whether "counterparty b" was 3AC and if so how much of a hit Voyager took $VOYG shares are down 33% over the last two days."  
[X Link](https://x.com/DylanLeClair_/status/1544664265809879041)  2022-07-06T12:47Z 381.6K followers, [---] engagements


"Voyagers Chapter [--] bankruptcy filing shows that Alameda Research (SBF) owes the firm $376 million. AKA the same company many were hoping would bailout Voyager owes them $376 million"  
[X Link](https://x.com/DylanLeClair_/status/1544755774810779649)  2022-07-06T18:50Z 387.1K followers, [----] engagements


"Celsius operated as a Ponzi scheme"  
[X Link](https://x.com/DylanLeClair_/status/1545168894725423105)  2022-07-07T22:12Z 383.6K followers, [----] engagements


"The contagion rabbit hole keeps going deeper. Co-Founder of Alameda Research looks to be the CEO of the firm who is the biggest creditor in the Celsius bankruptcy filing with the firm holding several other key links to Alameda"  
[X Link](https://x.com/DylanLeClair_/status/1547620288761802753)  2022-07-14T16:33Z 368.3K followers, [---] engagements


"Three Arrows Capital borrowed $2.36 billion under-collateralized from Genesis"  
[X Link](https://x.com/DylanLeClair_/status/1549075415536488448)  2022-07-18T16:55Z 368.8K followers, [---] engagements


"@GuerillaV2 @galaxyhq @_amanda_fab @BitwiseInvest Congrats 🔥"  
[X Link](https://x.com/DylanLeClair_/status/1550181302124613633)  2022-07-21T18:09Z 423.9K followers, [--] engagements


"What are the best books youve read on geopolitics macroeconomics and/or financial history Please share in the replies 👇"  
[X Link](https://x.com/DylanLeClair_/status/1551254744865333248)  2022-07-24T17:15Z 396.9K followers, [----] engagements


"@udiWertheimer @pierre_crypt0 cool joke idek who that is"  
[X Link](https://x.com/DylanLeClair_/status/1551990229480914950)  2022-07-26T17:57Z 368.3K followers, [--] engagements


"Money printer go brrrrr Money vacuum go whirrrrrrrrr"  
[X Link](https://x.com/DylanLeClair_/status/1553905882425004032)  2022-08-01T00:50Z 423.8K followers, [---] engagements


"The merge is a sell the news event. Fill my asks in the meantime though please"  
[X Link](https://x.com/DylanLeClair_/status/1554228725495091209)  2022-08-01T22:12Z 368.3K followers, [---] engagements


"Investors should look to the 1970's to study what sustained inflation means for real returns. In inflation adjusted terms it took [--] years for the S&P [---] to make a new all time high from 1969"  
[X Link](https://x.com/DylanLeClair_/status/1554504269616893955)  2022-08-02T16:27Z 368.4K followers, [---] engagements


"Here we are today 25.2% off the highs in inflation adjusted terms. I 100% believe $SPX makes new highs this decade. in nominal terms"  
[X Link](https://x.com/DylanLeClair_/status/1554504271982432257)  2022-08-02T16:27Z 368.4K followers, [---] engagements


"Two brothers who faked 10+ separate devs identities accounted for 70% of Solana's $10.5b TVL at its peak. I devised a scheme to maximize Solanas TVL: I would build protocols that stack on top of each other such that a dollar could be counted several times""  
[X Link](https://x.com/DylanLeClair_/status/1555284602775814147)  2022-08-04T20:08Z 383.1K followers, [----] engagements


"US TREASURY SANCTIONS TORNADO CASH The US Treasury announced this morning that it has sanctioned the use of the non-custodial Ethereum mixer through the blacklisting of various addresses. Even if you just hold bitcoin pay attention. The war on privacy is just beginning"  
[X Link](https://x.com/DylanLeClair_/status/1556674265054863362)  2022-08-08T16:10Z 368.3K followers, [----] engagements


"Tornado Cash is pretty damn huge by the way"  
[X Link](https://x.com/DylanLeClair_/status/1556674983732051968)  2022-08-08T16:13Z 368.3K followers, [---] engagements


"Formal attire today"  
[X Link](https://x.com/DylanLeClair_/status/1559622587898105856)  2022-08-16T19:26Z 384.2K followers, [----] engagements


"@Dennis_Porter_ @RiotBlockchain @MarathonDH @Core_Scientific @Hut8Mining @Bitfarms_io @cleanspark me and the boys on the way to dust the coinbase transaction of every OFAC compliant block you ever attempt to mine with coinjoined UTXOs"  
[X Link](https://x.com/DylanLeClair_/status/1560668567351148544)  2022-08-19T16:42Z 368.4K followers, [--] engagements


"@orangecoinwins A Fed pivot isn't necessarily bullish. Look at when rate cuts began during previous cycles and the response from equities"  
[X Link](https://x.com/DylanLeClair_/status/1561781224364036098)  2022-08-22T18:23Z 367.5K followers, [--] engagements


"Volatility back in both bonds and equities today. $VIX $MOVE"  
[X Link](https://x.com/DylanLeClair_/status/1561809057370996736)  2022-08-22T20:14Z 368.3K followers, [---] engagements


"@FossGregfoss Love you Fossman & I agree. But the market isnt trading it like it now. Just saying it how it is. I dont necessarily think an equity market correlation is bad. In a USD denominated liability world are we to pretend that bitcoin is isolated from a USD squeeze in the interim"  
[X Link](https://x.com/DylanLeClair_/status/1561866670465073157)  2022-08-23T00:03Z 387.7K followers, [---] engagements


"@FossGregfoss Dollar weakness dollar strength. Credit expansion credit contractions BTC is one side of the story. USD the other. BTC/USD will trade as a result. Doesnt make me any less bullish over the long term"  
[X Link](https://x.com/DylanLeClair_/status/1561867180370714624)  2022-08-23T00:05Z 387.7K followers, [---] engagements


"Pressure in the EU continues to mount as inflationary headwinds roil debt markets. The BTP-Bund spread a measure of economic risk in the EU continues to rise. Bundesbank President Joachim Nagel With the high inflation rates further interest rate hikes must follow 1/"  
[X Link](https://x.com/DylanLeClair_/status/1562090616170987522)  2022-08-23T14:53Z 368.5K followers, [---] engagements


"German debt is considered the risk-free benchmark for sovereign debt in the EU and given the country's soaring inflation and looming energy deficit this winter debt market volatility and illiquidity has picked up in a major way. 2/"  
[X Link](https://x.com/DylanLeClair_/status/1562090617672536064)  2022-08-23T14:53Z 368.3K followers, [--] engagements


"The Japanese Yen is at its weakest level against the U.S. Dollar since 1998"  
[X Link](https://x.com/DylanLeClair_/status/1565134674573279233)  2022-09-01T00:29Z 367.4K followers, [---] engagements


"Stablecoins 🤔🤔🤔 DB Russia Working with Several Friendly Countries on Cross-Border Settlements in Stablecoins: TASS Cites Deputy Finance Minister DB Russia Working with Several Friendly Countries on Cross-Border Settlements in Stablecoins: TASS Cites Deputy Finance Minister"  
[X Link](https://x.com/DylanLeClair_/status/1567171611148652546)  2022-09-06T15:23Z 368.5K followers, [---] engagements


"Hmmmmm Stabelcons can be pegged to some generally recognized instrument for example gold. Requires trust in the issuer. Ideally you settle trade in scarce bearer instruments with no counterparty risk"  
[X Link](https://x.com/DylanLeClair_/status/1567172702670053379)  2022-09-06T15:27Z 369.3K followers, [--] engagements


"Yields for European corporate debt and investment grade emerging market debt are pushing towards new highs as a result of the energy crisis and global monetary tightening. Liquidity troubles can rapidly turn into solvency risk"  
[X Link](https://x.com/DylanLeClair_/status/1567522702981824512)  2022-09-07T14:38Z 367.9K followers, [---] engagements


"WHITE HOUSE REPORT: CLIMATE AND ENERGY IMPLICATIONS OF CRYPTO-ASSETS IN THE UNITED STATES Its not about climate change its about complete and utter control. Dont give them one inch"  
[X Link](https://x.com/DylanLeClair_/status/1567880741656166403)  2022-09-08T14:21Z 421.5K followers, [----] engagements


"CME GROUP ANNOUNCES LAUNCH OF ETH OPTIONS 🫡🫡🫡"  
[X Link](https://x.com/DylanLeClair_/status/1569366603166261250)  2022-09-12T16:45Z 368.4K followers, [----] engagements


"Accelerating inflationary pressures. CPI 0.1% M/M Exp. -0.1% CPI Core 0.6% M/M Exp. 0.3% Dollar up. Equities down. Bitcoin down"  
[X Link](https://x.com/DylanLeClair_/status/1569667793615818757)  2022-09-13T12:42Z 368.4K followers, [---] engagements


"Further inflationary pressures = further monetary tightening. Risk pumps during monetary debasement not consumer inflation. The former comes after a bout of harsh tightening"  
[X Link](https://x.com/DylanLeClair_/status/1569669623502577665)  2022-09-13T12:49Z 368.4K followers, [---] engagements


"FedEx destroyed after hours following a huge earnings miss. The massive miss from the shipping giant reads like a sign of whats to come. $FDX -15.4%"  
[X Link](https://x.com/DylanLeClair_/status/1570521737217056769)  2022-09-15T21:15Z 424.3K followers, [----] engagements


"Woah - quiet the bombshell statement from the SEC within a new suit against a [----] ICO for selling unregistered securities. Very ugly implications here if this is the precedent"  
[X Link](https://x.com/DylanLeClair_/status/1571897601376616450)  2022-09-19T16:22Z 424K followers, [---] engagements


"U.S. mortgage rates keep ticking to new highs. 30y fixed now at 6.47%"  
[X Link](https://x.com/DylanLeClair_/status/1572626116657160193)  2022-09-21T16:37Z 368.4K followers, [---] engagements


"September 2020: - Median home price: 337k - 30y mortgage rates: 2.86% - Total paid over [--] year period: 502k September 2022: - Median home price: 440k - 30y mortgage rates: 6.47% - Total paid over [--] year period: 998k"  
[X Link](https://x.com/DylanLeClair_/status/1572630506428321793)  2022-09-21T16:55Z 368.3K followers, [----] engagements


"🚨Credit default swaps🚨"  
[X Link](https://x.com/DylanLeClair_/status/1573022663429218307)  2022-09-22T18:53Z 369.5K followers, [---] engagements


"I love how some people believe a blockchain can tie real world assets to digital ownership. Lets put ______ ownership on a blockchain - like a distributed ledger magically imposes real world physical ownership. Anyone remember this gem 👇"  
[X Link](https://x.com/DylanLeClair_/status/1574076868352958464)  2022-09-25T16:42Z 368.1K followers, [---] engagements


"A corporate financing squeeze is just barely beginning to be felt. As debt needs to be rolled watch yields gap higher in an illiquid debt market"  
[X Link](https://x.com/DylanLeClair_/status/1574423355922567169)  2022-09-26T15:39Z 368.3K followers, [---] engagements


"List of top shitcoins: - Dogecoin - Cumrocket - Shiba Inu - Luna - The Pound - The Euro - Bonds"  
[X Link](https://x.com/DylanLeClair_/status/1574945179370659840)  2022-09-28T02:12Z 376.1K followers, [----] engagements


"Dominos fall until the lender of last resort injects further liquidity by monetizing distressed debt assets"  
[X Link](https://x.com/DylanLeClair_/status/1576390783346757633)  2022-10-02T01:57Z 379K followers, [---] engagements


"As a commercial bank when I lend you money it creates an asset in the form of a debt security for me and a liability + a cash balance for you. The liability also will have interest in some form attached possibly rolling. Literally just lent into existence"  
[X Link](https://x.com/DylanLeClair_/status/1576393022811475968)  2022-10-02T02:05Z 379K followers, [---] engagements


"Front end rates at 4% and everything bubble poster child $TSLA has a $830 billion market cap with a forward P/E ratio of [--]. Pain not over"  
[X Link](https://x.com/DylanLeClair_/status/1576653797014675457)  2022-10-02T19:22Z 380.8K followers, [----] engagements


"Credit Suisse credit default swaps gapping to new highs"  
[X Link](https://x.com/DylanLeClair_/status/1576999979574444032)  2022-10-03T18:17Z 368.3K followers, [----] engagements


"Eerily quiet for bitcoin nowadays. 1-month implied volatility inching towards its lowest level since June"  
[X Link](https://x.com/DylanLeClair_/status/1577387275616296960)  2022-10-04T19:56Z 368.4K followers, [---] engagements


"Decentralized Autonomous Organization MakerDAO to hold Treasuries and Corporate bonds"  
[X Link](https://x.com/DylanLeClair_/status/1578120143762227200)  2022-10-06T20:28Z 367.9K followers, [---] engagements


"@robustus $2 trilly in reverse repo tells me that theres still excess liquidity. Dramatic duration repricing has occurred yes but theres no fundamental liquidity crunch in the system (yet) imo. Fed Gov Waller on Treasury market A lot of people complain USTs arent liquid. What does that mean No ones willing to pay the prices that youre asking Okay thats fine just lower the price and if you dont want to do that then youre happy holding the asset. https://t.co/Dc0KaOOVOI Fed Gov Waller on Treasury market A lot of people complain USTs arent liquid. What does that mean No ones willing to pay the"  
[X Link](https://x.com/DylanLeClair_/status/1579149613734690818)  2022-10-09T16:39Z 368.4K followers, [--] engagements


"The structural energy deficit has turned the Eurozone into a quasi emerging market with soaring debt yields and a collapsing exchange rate. Germany is in the midst of deindustrializing its economy due to this reality. You cant simply flick the switch back on"  
[X Link](https://x.com/DylanLeClair_/status/1581635900471406597)  2022-10-16T13:19Z 368.5K followers, [---] engagements


"A central bank digital currency is in no way innovative. It is simply a way to achieve unilateral control over your citizenry. It is tyranny of the highest form"  
[X Link](https://x.com/DylanLeClair_/status/1581779192890654721)  2022-10-16T22:48Z 415.2K followers, [----] engagements


"@kinetic_finance @bryan21896 @LoKoBTC @LV_BTC @BrokenSystem20 @AP_Bitcoin @crypto_0ptimist @sathoarder @DocHodllday @JacktheOrigin @rwawoe @phi_ci @s256anon001 @Semisol_Public @BTC_Freeborn @BigNCheesy @jileezie @TheJoelMettler @JohnOdetteMD @phathodl @SatoshiInUsAll @temahkwe @PeterAnsel9 @Gee0rgeG @FinneJay @utxo_one @bitcoinordeath @AdamSimecka @pokerwithwoody @JaimeLoopz @happyclowntime @derekmross @StackchainSig @yeagernakamoto @BitcoinOdyssey @DaveAustin @hyper_deflation @satscoffee @CosaNodestra @Anon256S7 @AnthonyDessauer @HodlersJourney @LuisMoreira0010 @BTCBoatParty @mandaloryanx"  
[X Link](https://x.com/DylanLeClair_/status/1583639673259249664)  2022-10-22T02:01Z 368.9K followers, [--] engagements


"The real bull market in bonds is dead. In purchasing power terms (adjusted for U.S. CPI) the U.S. long bond (including with coupon payments reinvested) is -53.6% from its all time high. New paradigm"  
[X Link](https://x.com/DylanLeClair_/status/1584554092873285632)  2022-10-24T14:35Z 368.4K followers, [---] engagements


"The rabbit hole goes deep. The system is corrupt all the way through to its core"  
[X Link](https://x.com/DylanLeClair_/status/1587296497338650624)  2022-11-01T04:12Z 414.1K followers, [----] engagements


"We dont have insight into what the liabilities are denominated in. If its primarily USD Alameda is in DEEP trouble. The asset side of their BS is entirely illiquid. If its loans denominated in crypto its better but still not great"  
[X Link](https://x.com/DylanLeClair_/status/1587893262635130881)  2022-11-02T19:43Z 367.9K followers, [---] engagements


"We do know that Alameda was a debtor to Voyager at the time of the 3AC bankruptcy to the tune of $370 million. Just how much USD denominated liabilities do they have against that illiquid pile of assets https://x.com/dylanleclair_/status/1544755774810779649s=46&t=TrOD2H1Ba8DZltaWd-sa2w Voyagers Chapter [--] bankruptcy filing shows that Alameda Research (SBF) owes the firm $376 million. AKA the same company many were hoping would bailout Voyager owes them $376 million https://x.com/dylanleclair_/status/1544755774810779649s=46&t=TrOD2H1Ba8DZltaWd-sa2w Voyagers Chapter [--] bankruptcy filing shows"  
[X Link](https://x.com/DylanLeClair_/status/1587894159079358466)  2022-11-02T19:47Z 368.3K followers, [---] engagements


"Heres the source. Wish we had the actual balance sheet to examine but CoinDesk beat reporting is trustworthy enough to make due. I dont think weve heard the last of all of this https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/ https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/"  
[X Link](https://x.com/DylanLeClair_/status/1587900407484932101)  2022-11-02T20:12Z 368.4K followers, [---] engagements


"I guess it makes a whole lot more sense why SBF trots out to twitter on a weekly basis promoting his FTT TWAP orders"  
[X Link](https://x.com/DylanLeClair_/status/1587902540834017280)  2022-11-02T20:20Z 368.4K followers, [---] engagements


"People really won't be able to comprehend how hard #bitcoin is going to rip on the other side of these macro headwinds. Due to the savage price agnostic accumulators eventually the marginal seller always gets exhausted"  
[X Link](https://x.com/DylanLeClair_/status/1588628555453595648)  2022-11-04T20:25Z 415.2K followers, [----] engagements


"U.S. equities have become increasingly expensive relative to bonds as rates have dramatically repriced higher"  
[X Link](https://x.com/DylanLeClair_/status/1588991829235490816)  2022-11-05T20:29Z 426.4K followers, [---] engagements


"I literally can't believe she tweeted out the exact $22 level 🤣🤣🤣 [--] month support with nothing but air below"  
[X Link](https://x.com/DylanLeClair_/status/1589335607180165120)  2022-11-06T19:15Z 414K followers, [---] engagements


"I don't doubt Alameda/FTX's ability to defend the line on their own home turf. Alameda/FTX can attempt to cross margin lever up on their own books until they go bust. But remember CZ owns a decent casino himself"  
[X Link](https://x.com/DylanLeClair_/status/1589366928938012672)  2022-11-06T21:19Z 424.8K followers, [---] engagements


"Altcoin perpetual swaps allow for weaponized financial leverage. Alameda/FTX can defend endlessly if they are the only mark to market exchange rate. But Binance has the most deeply liquid leveraged markets in crypto with an endless amount of degenerate speculators"  
[X Link](https://x.com/DylanLeClair_/status/1589368254828777472)  2022-11-06T21:24Z 424.8K followers, [---] engagements


"Update: $FTT open interest has reached 10M ($222m USD). It's like when a central bank announces they will defend a peg speculators just pile on and make them back it up. They'll have to absorb CZ's spot selling and tens/hundreds of millions worth of short positions"  
[X Link](https://x.com/DylanLeClair_/status/1589634444062662656)  2022-11-07T15:02Z 368.4K followers, [---] engagements


"$TSLA [---] Much harder to gamma squeeze to the heavens when money is no longer free"  
[X Link](https://x.com/DylanLeClair_/status/1589646784519110656)  2022-11-07T15:51Z 374.4K followers, [---] engagements


"Feels like I'm watching an emerging market central bank attempting to defend its currency against speculators right now. $FTT"  
[X Link](https://x.com/DylanLeClair_/status/1589718223322509313)  2022-11-07T20:35Z 368.4K followers, [----] engagements


"All but confirms that FTX is insolvent without a bailout from Binance. Alameda was speculating with user funds. 6) (Note that https://t.co/fCrWGQ4y7w and https://t.co/Ju8CkfrLYHtwo separate companiesare not currently impacted by this. https://t.co/fCrWGQ4y7ws withdrawals are and have been live is fully backed 1:1 and operating normally.) 6) (Note that https://t.co/fCrWGQ4y7w and https://t.co/Ju8CkfrLYHtwo separate companiesare not currently impacted by this. https://t.co/fCrWGQ4y7ws withdrawals are and have been live is fully backed 1:1 and operating normally.)"  
[X Link](https://x.com/DylanLeClair_/status/1590017085471883264)  2022-11-08T16:23Z 368.5K followers, [----] engagements


""Liquidity crunch" I thought your deposits were backed 1:1 Or was your "proprietary trading desk" directionally trading using user funds. We could all see the movements flooding back from Alameda wallets on-chain yesterday as reserves got depleted"  
[X Link](https://x.com/DylanLeClair_/status/1590017857215422464)  2022-11-08T16:26Z 368.4K followers, [---] engagements


"Respect to all the plebs catching knives. 🫡🫡🫡"  
[X Link](https://x.com/DylanLeClair_/status/1590464842531753987)  2022-11-09T22:02Z 423.8K followers, [----] engagements


"If you need to pause withdrawals as a bank/lender in this space that means you are insolvent on a mark to market basis. In a market with no lender of last resort liquidity troubles mean your liabilities exceed you assets in a forced liquidation scenario"  
[X Link](https://x.com/DylanLeClair_/status/1590892310258417666)  2022-11-11T02:20Z 368.3K followers, [----] engagements

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