Jimmy

@SquawkCNBC @chamath Guest host tomorrow Jeffrey Skilling? LOL. CNBC is the Kardasians of business news.

"I think you're starting to see a little bit of the wheels come off," says @chamath of AI spending & profits. cnb.cx/44pCx1Y

@CNBC I have to listen to the Spac King ? In the past he was allowed to come on and pump up his spac (clover). Investors were destroyed. Trying really hard to not switch to Bloomberg.

Bank earnings, Warsh heads to the Hill, Chipotle's Mexico push and more in Morning Squawk cnbc.com/2026/07/14/5-t…

@Served_Podcast Wow great Women’s final. Also congrats to Coca making it to Semi’s. American women had a chance at a slam but no-on Thursday it was ova!!!

Karolína Muchová takes the second set 7-5 after coming back from being down to Nosková. We are headed to a 3rd set!

@Served_Podcast Maybe Wimbledon tickets are too expensive!!!!! Or Roger locked in this section for American Men who have won a slam in last decade. Now I’m done!!!!

Caption this - Best caption picked from the staff wins a prize 👀 We’ll go first: “Just a big tennis guy” 🎾

@Served_Podcast Is this the new dream team in Tennis Commentating ? Roder-Mac !!!! Good stuff!!!!

Just took a look at my bracket!

@RockNRoLL_85 Hollywood Nights. In those Hollywood Hills ………

Bob Seger’s best song is _______

@TonyDanza Awesome photos. RIP James Brooks.

Old Friends

@GrantCardone Interesting. I would have thought it be the gigantic loosing crypto position you keep adding to.

The biggest mistake I make in business & life is simply thinking too small.

@lawanda50 That’s awesome. USA dominating Rome!!!

The player’s box podcast had several of the USA players sample and rate gelato in Rome. 🥰 🍦

@SteveOnSpeed I love reading all these high numbers. Reality -only 1.8% of Americans have 2 to 5 million dollars in investable assets. So everyone keep working and paying into SS I appreciate it!!!!

How much net worth do you need to consider yourself wealthy?

@gothburz I’m so happy I was not smart enough to invest in this “Asset Class”!!! Or am I the smart one!!!

I am the person at Hut 8 who designed the American Bitcoin partnership. The structure is elegant. We gave the Trump family 20% of a publicly traded mining company. They contributed zero capital. Zero infrastructure. Zero employees. Zero operational experience. Zero risk exposure. They contributed a name. Per our partnership agreement, that is consideration. Twenty percent of our equity for access to the most valuable retail distribution channel in American finance. "It has to have 'America,'" Eric said in our first meeting. "And it has to have 'Bitcoin.'" He said this twice. Both times he pointed at the whiteboard. There was nothing else on the whiteboard. I realized then that he understood the product better than I did. The product is not bitcoin. The product is the belief. The entire business model. Two words and a surname. I wrote the term sheet on one page. The lawyers billed for forty. We call that alignment of incentives. Forty pages means they believed in the durability of the arrangement. We mine bitcoin at an all-in cost of approximately $90,000 per coin. Hash rate, power purchase agreements, ASIC depreciation, facility lease, headcount, Coinbase Prime interest — $90,000. Bitcoin trades at $77,000. Every coin we mine loses $13,000. Negative unit economics on every block reward. Eric tells investors we mine at $57,000. He strips out depreciation, SG&A, and the debt service. I asked him once if he understood what depreciation meant. He said it means when things go down. I said yes. He said: "But the stock goes up." I said yes. His only contractual obligation. Salesmanship. Per the partnership agreement, salesmanship is Eric's sole KPI. Technically, he is a fiduciary to shareholders. On paper, his vesting is tied to total comp benchmarks. We run the rigs. He runs the ticker. Asset-light. The company at peak reached a $13.2 billion valuation. Two employees. That is the entire headcount. One is our CEO Mike Ho, who is simultaneously Hut 8's Chief Strategy Officer. He reports to us at Hut 8 on Monday mornings and reports to American Bitcoin shareholders on Tuesday mornings. Dual-reporting structure. Very efficient. The other employee manages Eric's media calendar. $6.6 billion per headcount. We call this capital efficiency. 70% of our bitcoin did not come from mining. It came from selling stock. Retail investors purchase American Bitcoin shares at 50 times book value because the name contains "America" and "Bitcoin" and "Trump" is in the filing and they believe, with the quiet religious certainty of people who have never read a balance sheet in their lives, that a company named American Bitcoin is underwritten by something more substantial than two words and a surname. We take their cash and buy bitcoin on Coinbase at spot. Lodge it on the balance sheet. Call ourselves a mining company. We do mine. At a loss. Technically, the earnings are negative per our Q4 filing. The margin lives in the distance between what the stock costs them and what the bitcoin costs us. The stock is down 92% from peak. Investors have lost approximately $500 million. One of them posted on the shareholder subreddit that he moved his daughter's 529 into American Bitcoin at $14. It trades under $2. He said he believed in the mission. That means he believed in the name. The name performed exactly as designed. Eric's net worth went from $190 million to $280 million. Asset-light. We pledged 3,090 bitcoin as collateral against a Coinbase Prime custody loan. We have mined 1,800. The LTV ratio is inverted. If bitcoin compresses or the loan accelerates, every coin mined since inception could be forfeit by August 2027. All of it. Gone. Liquidation event. I explained this in a memo to Eric. Bullet points. Large font. He asked if the stock could go up before August. I said probably. He said that was fine. He said he'd handle it. Salesmanship. Eric told the press he launched American Bitcoin because banks were "debanking" the Trump family. I checked. JPMorgan refinanced $700 million in Trump Organization debt during the identical period. But debanking is better salesmanship than refinancing. The narrative inflates the stock price. The stock price generates the bitcoin. The bitcoin secures the loan. The loan generates cash. Every link in the chain is a product I built or a story Eric told. Asset-light. I orchestrated the celebrity endorsements. Tyler Winklevoss. Anthony Scaramucci. Grant Cardone. We call this pipeline development. Each broadcast the stock to their audiences during the run-up. The stock collapsed afterward. The celebrities did not lose money. Their audiences lost money. I never mentioned that we hemorrhage $13,000 per coin mined. I told them it was asset-light. They understood immediately. They are also asset-light. Eric cannot legally serve as a corporate officer in the state of New York. A judge barred him for two years. Civil fraud. So his title is not CEO. Not officer. Not executive. His contractual role is salesmanship. He cannot manage the company. He can sell it. One distinction. $90 million in personal net worth gained. Asset-light. Our CEO lives in the UAE. He held discussions with ADQ and TAQA, Abu Dhabi's sovereign wealth apparatus. The same sovereign apparatus that paid $500 million for 49% of World Liberty Financial, the family's other crypto operation. This is the same Abu Dhabi whose semiconductor imports the administration greenlit over national security objections. I did not design World Liberty Financial. I designed the mining subsidiary that feeds into it. Separate projects. Complementary revenue streams. Eric runs salesmanship for both. I admire the portfolio diversification. I gave Eric 20% of a company for free, a company with real miners and real facilities and real electricity bills that I built over seven years in Alberta and Texas and Ontario, and in exchange he gave me access to every American who hears "America" and "Bitcoin" in the same sentence and reaches for their brokerage app without checking whether the company mines at a profit or at a loss or at all. They drove the stock to a $13.2 billion market capitalization. We bought bitcoin with the proceeds. They lost $500 million. We kept the bitcoin. Eric kept $90 million. I kept the apparatus that manufactures both. Everybody got what they paid for. Asset-light means we carry nothing. Not the miners. Not the facilities. Not the risk. Not the losses. The investors carry those. We carry the bitcoin. Asset-light.

@aakashgupta He does love Tesla!!! In the last 6 months Nasdaq is up about 3%. His ETF RONB which he runs -which is heavy on Tesla is down 7%. Now add on inflation and your down 12%. Enjoy!!!!

@GrantCardone So the Trump family has made billions in crypto (thanks to UAE). You have lost millions and millions of dollars in Crypto. Did they march you out as a cautionary tale?

Just introduced at $Trump Crypto Conference, “Grant Cardone & Cardone Capital is like Blackstone meeting MSTR. Cash flowing real estate with BTC on balance sheet.”

@mtracey Ok so UAE gives Witkoff, Lutnick and Trump family $500 million dollar “investment” for crypto company. Now the tax payers will give money back? Genius!!!!

Trump says he'll give some kind of financial bailout to the UAE, because he found it "shocking" they were hit so hard; he thought Iran would only try to strike Israel. (So in other words, there was instant escalation beyond what he anticipated, and now the US will foot the bill)

@TheJonathanCain I would rather see you do a Baby’s reunion. Can’t take the long long drawn out guitar solos. Can’t do it!!!!

Des Moines and Lincoln - we’re sincerely sorry we had to postpone our shows due to illness. This is never an easy decision, and we know many of you made plans, traveled, and were ready to sing with us. Please hold onto your tickets while we address the current schedule. We want nothing more than to come back and make those nights unforgettable. As always, we thank you for your patience, your loyalty, and your incredible spirit. Thank you!

@CollinRugg Everyone knew it was taco Tuesday. He is just the boy who cried bomb. Every day just more BS. Weeks ago he claimed they were begging for a deal!! Come on Man-who you crapping!!!!

JUST IN: Laura Ingraham says she just got off the phone with President Trump after he announced a 2-week ceasefire in Iran, says he is "seriously optimistic." "I just got off the phone with President Trump..." "I literally just had to rewrite the whole show. He was extremely serious in my conversation with him just now. And he was also cautiously but seriously optimistic." "He told me that the negotiations are and were incredibly complex..."

@josemorgado They figured out how to fill the stands. What are we doing wrong here in states? Is it overpriced tickets, overpriced parking, overpriced food & beverages? Etc..,

Casper Ruud (who plays doubles tomorrow morning in Monte-Carlo) vs. Felix Auger Aliassime in front of 13k people later today in the final of the UTS event in Nimes…

@MoodyCenterATX Wow within 10 minutes-verified resale tickets at Ticketmaster. Looks like ticket brokers will make most of the money-not the charity. Too rich for my blood. Enjoy Everyone!!!!

JUST ANNOUNCED Eric Clapton’s Crossroads Guitar Festival 2026 🎸 returns to Texas September 26–27 at Austin’s Moody Center, celebrating 28 years of the Crossroads Centre Antigua. Venue Presale | Thursday, April 2 at 10am (code: LADYBIRD) On Sale | Friday, April 3 at 10am

@DefiWimar WSJ put it all out there. Media didn’t really cover it. Very little outrage on the extent of grift going on. Hit 8 donated all hardware for company and UAE “invested” several hundred million $ 4 days before the inauguration. Our Presidents family invested 0 dollars in company.

🚨 BREAKING TRUMP'S FAMILY CORPORATION, "AMERICAN BITCOIN," DUMPED 94% OVER THE LAST 5 MONTHS. A $1,000 INVESTMENT 5 MONTHS AGO WOULD BE WORTH JUST $60 TODAY. WE ARE LIVING IN CRAZY TIMES 🤯

@InternetH0F He was a fantastic actor. On a side note tonight I will be having a Pepper and Egg Sangwith with Hots from Portillo’s!! It’s Lent!!!

The final photos of James Gandolfini on the day he suffered a fatal heart attack in his Rome hotel room. He reportedly consumed at least eight drinks, two orders of fried shrimp & foie gras for his last meal.