GraniteShares 2x Long MSTR Daily ETF

Last week, two leading DAT companies both conducted share repurchases. BMNR repurchased 4.5 million shares, marking the third consecutive week of repurchases, with a cumulative total of 16 million shares.

MSTR also engaged in repurchases, but they were buying back STRC. The funds were raised by selling BTC (1638) and utilizing MSTR's ATM (3 million shares). It appears the company prioritizes protecting STRC, which is somewhat misaligned with the interests of MSTR shareholders.

$BitMine Immersion Tech(BMNR.US)

$Strategy(MSTR.US)

$Strategy(MSTR.US) | H.C. Wainwright 𝗿𝗲𝗶𝘁𝗲𝗿𝗮𝘁𝗲𝘀 𝗕𝘂𝘆 on 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆, maintains PT at $𝟯𝟮𝟱

COIN 2Q26 First Take: Crypto stayed under pressure in Q2 on higher-for-longer rate expectations, geopolitical frictions, and Strategy’s selling, with a sharp pullback in Jun. In this backdrop, results are unlikely to be strong. Some sentiment-driven de-rating likely occurred ahead of the print.

Beyond macro, the slow progress on the CLARIFY Act also weighed on sentiment. It remains stuck awaiting a Senate floor vote. With the Aug recess and midterms ahead, passage this year looks unlikely, removing a key catalyst for Coinbase.

1) Trading kept sliding: trading revenue fell 19% YoY. The company did not disclose legacy trading volume metrics this quarter, but Coinbase spot volumes declined sharply YoY and QoQ, in line with the broader market. That said, management’s disclosed market share metric continued to rise.

2) Subscriptions also lagged, with soft guidance: non-trading subscription revenue is driven by stablecoin income, staking income, Base chain revenue, and interest income. Q2 came in at $560 mn (-12% YoY, -5% QoQ). The mix is smoother than trading but still weakened.

By line item, stablecoin income largely tracked USDC market cap. Staking was hit by a double whammy of lower token market caps and yields, posting a steep decline. Only custody fees and Base chain revenue were relatively stable (+4% QoQ, -5% YoY).

For Q3, management guides subscription revenue to be flat QoQ and below Street expectations. This implies a slower near-term recovery in USDC expansion as well as in ETH/SOL prices and staking yields.

3) Continued increase in stablecoin holdings: the stablecoin market also shrank in Q2 amid the crypto slump and the CLARIFY overhang. USDC market cap fell to $73.5 bn (-5% QoQ), with more pronounced swings than USDT. This likely reflects USDT’s broader use cases, including commerce payments, and a higher non-US user base, making it less sensitive to rates and CLARIFY timing.

Coinbase kept adding exposure, with average platform-held and custodied USDC at $20 bn, 26% of circulating supply, up from 25% in Q1. The company has renewed its partnership with Circle. Both sides remain tightly aligned as ecosystem partners.

4) Core profit turned negative: with revenue under pressure and relatively sticky opex, margins compressed. Despite cost controls, severance, consolidating Deribit, and new product investments drove R&D up 22%. As a result, gross profit less operating expenses turned negative in the quarter.

5) Buybacks slowed: Coinbase repurchased $81 mn in Q2 (810k shares at an avg. $148.94), largely during the Jun selloff. That compares with ~ $1.1 bn in Q1, effectively slamming the brakes. $Coinbase(COIN.US)

$Strategy(MSTR.US) Q2 EARNINGS

$Strategy(MSTR.US)bottom in?

$Strategy(MSTR.US) | 𝐂𝐚𝐧𝐭𝐨𝐫 𝐅𝐢𝐭𝐳𝐠𝐞𝐫𝐚𝐥𝐝 reiterates 𝐎𝐯𝐞𝐫𝐰𝐞𝐢𝐠𝐡𝐭 on 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲, maintains 𝐏𝐓 𝐚𝐭 $𝟐𝟏𝟐

What a rebound and rally to kick off the tech earnings. If big tech delivers on their results and shows continued infrastructure buildout, tech will fly.

I expect the next wave of buying to kick in soon after Monday’s state purchases. It makes little sense for shares to drop back 10–20% right after state support. These are real capital being deployed to the market.

More moves are likely on the way, as the government has clear targets to hit: 4.5%–5% GDP growth for 2026 and strong market performance helps support their KPI.

Do you not agree? 😆

The US and Iran war continue their 11th straight night strike. I was wondering why they still can sit and talk if one of their close relatives is killed by another party !!! The whole world is like the wayang wayang. Do you agree?

The memory semiconductor sector rebounded strongly after a recent pullback, supported by a positive UBS outlook and robust South Korean export data pointing to sustained AI-related hardware demand. The rally lifted memory stocks and drove broad gains across semiconductor shares, reinforcing investor confidence in AI infrastructure spending. While the move suggests improving sentiment, the sector remains sensitive to future demand trends, inventory conditions and broader macroeconomic developments.

The roller coaster ride for the memory trade highlights the risk of leveraging without proper risk control. Even if a longer term structurally bullish trend is intact, short term narratives/sentiments can still wreck havoc to investors' portfolio. With the toppish valuation with forward expectations priced into a lot of names, little noises can unravel sentiments in the blink of the eye.

It is difficult to tell if this recovery in chip stocks is a dead cat bounce. My gut feeling says no as the AI infrasture demand is real but the market is moved by smart money and what we can do is size our positions according to our risk appetite and set stop losses.

memory stocks still got room to up as previous week drop.

just try buy on dip or hold it if already brought.