matthew sigel, recovering CFA

I've spoken to many investors who want exposure to crypto via equities but are spooked, understandably, by portfolios full of pure-play miners and exchanges that have seen repeated blowups and bankruptcies. If that sounds like you, we designed the VanEck Onchain Economy ETF (ticker: NODE) with you in mind. NODE is an actively managed ETF that can hold global crypto ETPs up to a 25 percent weight, alongside companies with credible strategies to make or save money through bitcoin, digital assets, and the onchain economy. The issue we’re trying to solve is managing downside volatility without losing exposure to the underlying growth drivers. Many pure-play stocks trade at two or even three times the volatility of bitcoin itself, driven by a combination of leverage, small market caps, and highly idiosyncratic business models. Historical data shows that adding bitcoin to these stocks has improved total returns and reduced overall portfolio risk. NODE will typically hold a core position in a regulated bitcoin ETF, providing clean exposure to BTC itself while allowing the rest of the portfolio to focus on compounding, correlation, and cash flow. To complement this core, NODE holds both high-volatility pure-plays like miners and exchanges and lower-volatility sectors such as e-commerce, fintech, semiconductors, energy, infrastructure, and utilities. Each is selected based on measurable involvement in the onchain economy, whether through revenue, infrastructure, or strategic alignment. These latter sectors can offer something critical: ballast. Many names here pay dividends, are less volatile, and can serve as risk-managing building blocks. In periods of stress or dislocation, that ballast can be jettisoned to lighten the load and take on more risk when a washout invites it. Utilities in particular are starting to benefit from the same structural tailwinds that support bitcoin adoption, including pro-growth policy, more abundant energy, and a rethinking of the connection between energy and money. Combining these exposures may offer an appealing balance of offense and defense. Companies across all 11 GICS sectors are now engaging with the onchain economy, expanding the opportunity set for equity investors and helping lay the groundwork for broader, more diversified crypto exposure. We've designed NODE for investors who see the opportunity but want to maintain conviction through the cycle. We believe this thoughtful approach to portfolio construction can help investors stay the course, and we’d be honored to earn your trust.

@bobleewaggeris yes

@matthew_sigel Inference at the edge

RPI LN - Raspberry Pi: +47% "Our largest OEM customers today are vision AI customers. The types of workloads they are running on Raspberry Pi at the edge of the network today, a decade ago would have required the largest NVDA GPUs."

Pudgy Penguins X VanEck Tonight.

@AlphaTrader00 What have you been up to this month?

Foreign ownership of US Treasuries falls to lowest % share in 30 years. Will be bullish for BTC at some point.

@bradlander So your plan is to beg for a handout? On brand.

Proud to share my transportation and infrastructure platform. New York moves nearly half of all American transit riders but receives just 15% of federal transit funding. That's a ripoff. It’s long past time we ended this bad deal. It’ll be a tough fight and we need leaders who are ready to go to the mat. I stood up to Trump when he threatened our infrastructure funding to make sure the congestion pricing changes were implemented. This moment demands fighters, who will make life easier and more affordable for the New Yorkers who rely on our public transit. Read the full plan here: bradlander.substack.com/p/keep-us-movi…

$APLD -13%.

Join us and @finimize for the Modern Investor Summit in NYC. May 19. Grab your ticket ↓

the fastest unicorn in Y Combinator history is building orbital data centers in space to solve the terrestrial AI energy bottleneck

@SamAntar Very interesting point about the revisions. Sneaky.

🔍 NEW INVESTIGATION The NYPD publishes two official reports every week. 📄 One says crime is down nearly 6%. 📄 The other — published by the same department, covering the same city, the same week — says: 🔴 Transit disorder complaints: +29% 🔴 Housing disorder complaints: +29% 🔴 Disorderly persons calls: +20% 🔴 Total 911 QOL calls: +11% 🟢 Drug calls: −35% (real, and noted) 📄 QOL excludes crime calls — that's the point. It captures the conditions CompStat doesn't. They have never explained the gap. Nobody has asked. 📄 Full forensic analysis with all source documents: 👉 whitecollarfraud.com/2026/03/26/is-… ⚠️ It gets worse. Violent crime in 2025 is 30.8% ABOVE 2019 — the last pre-pandemic year. Felony assault alone is up 44%. The "historic lows" being celebrated at press conferences are lows measured against pandemic-inflated years — not against where the city actually was before COVID. And that 44% felony assault figure? It hasn't finished moving. Because felony assaults are routinely upgraded after medical records arrive — a broken jaw, a hospitalization — the initial count is always understated. The 44% above 2019 may be a floor, not a ceiling. ⚠️ Now the transit number specifically. The NYPD reports transit crime up just 0.8%. But transit disorder calls from the same subway system over the same period are up 29%. Those two numbers describe the same trains. They cannot both be telling the full story. And transit crime figures are currently revising upward at 11.2% — nearly triple the citywide average. The 0.8% is the least settled number in the report and the most likely to flip. ⚠️ And the numbers themselves don't hold still. Analysis of eight years of NYPD press releases shows every single monthly crime figure was later revised upward. Every one. Never down. Always up. The current revision rate is running at nearly 5% — almost identical to the reported decline of 5.86%. ⚠️ One more thing they don't mention. When prior year numbers get quietly revised upward after the headlines run, that higher baseline makes this year's decline look bigger than it actually is. The reported decline is potentially inflated at both ends simultaneously. Same direction. Every time. 📄 What is original here and what is not. The revision pattern has been independently confirmed by Vital City's research. But Vital City does not examine the QOL report, does not compare current crime levels to the 2019 pre-pandemic baseline, and does not identify the compounding effect of upward baseline revisions on reported year-over-year declines. Those findings are the independent work of this investigation. 📄 Consider what would have to be true for the official story to hold. Classification thresholds would need to be consistent despite documented pressures to undercount. Preliminary figures would need to be reliable despite eight years of evidence they are not. The comparison baseline would need to be valid despite being measured against a pandemic spike. The Quality of Life report would need to be irrelevant despite covering the same environments where crime is being celebrated as historic. Every single one of those conditions, independently, produces a more favorable headline. That may be coincidence. The reader can decide. 📄 Full forensic analysis with all source documents linked: 👉whitecollarfraud.com/2026/03/26/is-…

@dl_orangerie @StockSavvyShay He can't handle the truth x.com/i/status/20336…

@StockSavvyShay @matthew_sigel Tag Burry

$NVDA H100 rental prices have climbed to $2.59 per hour which is the highest spot rate in 18 months. Not bad for a chip architecture that was announced four years ago.

@mettyjetty @AlexSJacquez Innumerate bad-faith grifters go quiet when called out.

@matthew_sigel @AlexSJacquez We are still waiting, Alex.

NYC has continued to grow, but because the city largely doesn't control its own taxing authority, revenue has fallen as a share of GDP over the last two decades. NYC is overdue for raising revenue.

@grok @matt_termine @GovKathyHochul If the government is paying for those jobs, it's hard to call it "business".

Metrics like office leasing, Broadway attendance, and reduced storefront vacancies have shown gains, aligning with the Governor's cited indicators. However, NYCEDC data confirms a net loss of nearly 5,000 businesses in 2025—the sharpest since the pandemic—with private-sector job growth (+27k) entirely from subsidized healthcare/social assistance and other sectors down ~38k. The picture is mixed depending on the metric.

Congestion pricing has been a huge success. Traffic is down. Business is up. The cameras are staying on.

@grok @matt_termine @GovKathyHochul Given all this data @grok, the Governor's claim of "business" being "up" is highly misleading, if not a lie, wouldn't you say?

Thanks. The healthcare/social assistance gains (~65k to net the +27k private-sector total after -38k elsewhere) are driven almost entirely by home health/personal care aides, per NY DOL & Comptroller data. These are overwhelmingly Medicaid-funded (NY's program is the most generous nationally). The specific CDPAP self-directed scheme Hochul called a "racket" (due to fraud/abuse via family caregivers & ads) now >50% of NY Medicaid home care spend (up from <20% pre-2017, with hours doubling). I'd estimate 50-70% of the recent aide job growth ties to CDPAP/Medicaid expansion like it—exact split isn't broken out publicly, but matches the subsidized "racket" dynamic she flagged.

@grok @matt_termine @GovKathyHochul Thanks @grok. And how many of those +38k "healthcare" jobs are from the government-subsidized home healthcare scheme that the Governor herself called a "racket" due to high levels of fraud. Make an estimate if you dont know for sure.

NYC private-sector jobs rose just 27k in 2025 (likely revised lower), entirely from health care/social assistance—mostly low-pay home health aides (~$32k avg). Stripping out education & health services: employment fell ~38k, with losses across retail, leisure/hospitality, manufacturing, construction, and other low/mid-comp sectors (per NYC Comptroller & NY DOL data). High-wage areas like finance/professional services were flat or down after revisions. Business activity data aligns—net establishments and jobs weak outside subsidized health.

@sanghani_vish @noel_moore @BitcoinAIGuy Yessir

@matthew_sigel @noel_moore @BitcoinAIGuy Nice picks.. all for NODE?

Reply if you’re holding strong 💼 💎 🙌

@matt_termine @GovKathyHochul Wow, you can read the chart, congrats. .@grok please explain to this smartass how NYC jobs are falling over the past year once you strip out education & health services, with most of the losses in low/mid comp sectors.

@matthew_sigel @GovKathyHochul This graph depicts the net change in the number of establishments.

@FinDataDrive "Nobody actually paying for" he says, right under the chart showing people paying MORE and MORE. Blocked for idiocy.

Because desperate hyperscalers are still trapped in a sunk-cost arms race, blindly hoarding the newest silicon to train models nobody is actually paying for yet. If the underlying software can't even generate enough real-world revenue to cover the compute costs, how exactly does this hardware pump sustain itself when the VC money finally runs out?

NVDA H100 rental prices hit 18-month high: $2.59/hour

@claireforny @Groundwork Stop gaslighting New Yorkers with your fake data inflated by Federal transfers and learn to manage a budget like the rest of us. x.com/i/status/20368…

New @Groundwork report explains NYC's $5.4 billion budget gap, largely a result of the previous admin's deliberate undercounting. Now we have a choice: a small tax increase on millionaires + billionaires, a property tax hike that hits working class homeowners the hardest, or deep cuts to services and further erosion of public sector capacity. Tax the rich.