117 Partners

SCOTUS struck down IEEPA tariffs, but the refund "mess" is just beginning. - No official payout timeline. - Administrative hurdles are coming. - Future policy shifts could risk your recovery. Sell your claim, Get liquidity, Get a quote today

Thanks to CoinDesk for featuring our Managing Partner @Bkclaims , and to Will Canny for the write-up. If you have exposure to BlockFills or are simply trying to understand your options, feel free to reach out, always happy to compare notes. coindesk.com/business/2026/…

Thread 🧵: Venezuela is being priced like a broken company — but this is a classic long-duration value setup

If you deposited money into Stream Finance XUSD after the hack, do reach out to us we might be able to help

We are actively buying claims in: @eulerfinance @Re7Labs @TelosConsilium @elixir @MEVCapital @SiloFinance Final call for year-end bids. DM if you want liquidity before 12/31.

Stream Protocol update: streamprotocol.money 1.) It appears Stream Trading Corp (DE LLC), run by Diogenes Casares and Solal Afota, has begun returning assets to Stream Trading Company (again, not an actual legal entity), i.e. Caleb McMeans. Source: debank.com/profile/0x1597… 2.) It also appears Caleb has retained restructuring counsel and is moving toward an orderly wind-down of the StreamFinance protocol. Whether this occurs in-court or out-of-court remains unclear. @117partners has been pushing behind the scenes for a quick and equitable resolution. We still believe an independent investigation into pre-loss actions is important (with third-party oversight or management), but are encouraged by the progress with Dao, Perkins, and Caleb so far.

Here's a Telegroup we are organizing for XUSD and Stream claimants: t.me/streamxusdbk

Anyone with XUSD, or have their money stuck in Stream Finance app, do reach out to us. We believe the best course of action is to file a involuntary bankruptcy against Caleb to protect the assets.

After reviewing the facts + agreements, the cleanest path forward looks like: (1) filing an involuntary bankruptcy against Caleb McMeans personally, and (2) having the BK trustee seek a Delaware Chancery receivership over Stream Trading Corp. This two-step approach puts a fiduciary in place with subpoena + clawback power, unwinds the JV/“asset sale” structure, centralizes claims, and protects creditor recoveries across the ecosystem. If you’re a creditor (Euler, Re7, Telos, Elixir, MEV, Morph, Silo, or depositors) and want to coordinate or learn more, feel free to reach out.

1/ One wild piece of the FTX unwind: creditors might be quietly long a SpaceX IPO. FTX settled with K5 Global over ~$700M of misused SBF “venture” investments — and reporting shows ~$190M of that exposure was SpaceX at an ~$80B valuation.

THREAD — The Stream Protocol Collapse: Entity Chaos, Legal Risks, and the Real Story No One Is Telling 1/ Everyone is talking about the losses at Stream. But the real story is the legal architecture behind the collapse — and it's way messier than people understand. What follows is a breakdown of the structural failures, entity confusion, insolvency risk, and why this could become one of the most consequential cases in DeFi.

Working on the Stream Finance / XUSD fallout. If you have any exposure, we’re coordinating updates, mapping liabilities, and helping with claim + recovery issues. DM me — happy to assist. Entities impacted: • Euler — @eulerfinance • Telos Consilium — @TelosConsilium • Elixir / DEUSD — @elixir • MEV Capital — @MEVCapital • Morph — @MorphoLabs • Silo (debt + vault/xuSD exposure) — @SiloFinance PSA: At this point you should document everything. Take screenshots of: — account balances — historical transactions — deposit / withdrawal proofs — emails with support — any KYC/AML confirmations — tx hashes or explorer links This stuff becomes critical evidence in claims, disputes, and recovery processes. If you’re touched by any part of this, reach out. We’re aggregating info, comparing notes across cases, and helping affected parties move quickly + strategically.

11/ ShipChain’s $27.6M ICO ended with a $2M SEC penalty and a Fair Fund for investors: a stark reminder that “utility tokens” don’t escape securities laws. When profits depend on the project’s success, the SEC will step in.

10/ To receive a payment, Eligible Claimants (Payees) must have a distribution amount equal to or greater than the Minimum Distribution Amount of $10.00.

The ShipChain Case: How an Unregistered ICO Led to a $2M Fair Fund 🧵