📌 Palmer Luckey Backs Crypto Bank

BlackRock Bitcoin ETF Drives More Revenue Than Its S&P 500 Fund

According to calculations from Bloomberg, BlackRock – the world’s largest asset manager – generated an estimated $187.2 million in annual fees from the iShares Bitcoin Trust ETF (IBIT) as of July 1st. That just beats out the $187.1 million made by the company’s flagship fund, iShares Core S&P 500 ETF (IVV). How?… you might ask. Well, although the S&P fund is nearly 9x larger with $624 billion in AUM, it’s 0.03% expense ratio is also significantly lower than IBIT’s 0.25%. Read more →

Figma Quietly Holds $70M in BTC in IPO Filing

Yesterday, Figma filed for IPO, revealing its financials for the first time publicly after a failed acquisition by Adobe. And while the company is growing by an impressive 50% YoY, our focus is on something else… it’s BTC holdings. The filing revealed that Figma quietly purchased ~$70 million in Bitcoin ETFs in 2024. The board has also approved another $30 million in stablecoins for future Bitcoin purchases. What’s interesting here is that the company chose ETFs over a straight custody strategy. Furthermore, it just goes to show that a pubco can buy BTC without announcing it every single time. Read more →

Filling The Shoes of SVB

Anduril’s Palmer Luckey and Palantir’s Joe Lonsdale are backing Erebor, a new bank that wants to pick up where Silicon Valley Bank left off. With Founders Fund and other heavyweight VCs on board, Erebor has sought a national charter to position itself as the “most regulated” facilitator of stablecoin transactions, offering the “innovation economy” a compliant bridge to the US banking system that has been missing since SVB’s fall. Interestingly, Erebor recently merged with Palmer’s stealthy stablecoin startup, Atticus (valued already at $2.25b) just last month. Read more →

The $107K Bitcoin Surge Is Just the Beginning

BTC just punched through $107K after the Iran cease-fire… and the GENIUS Act’s passage is pouring fuel on the fire. The opportunity now? Altcoins. Our exact strategy for crypto's next big move is found in our book Crypto Revolution. Click here to learn more →

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