Mahagonis

The 20 richest people in crypto: 1. Changpeng Zhao : $114.6B 2. Giancarlo Devasini : $89.3B 3. Paolo Ardoino : $38B 4. Jean-Louis van der Velde : $38B 5. Stuart Hoegner : $24.7B 6. Brian Armstrong : $9.4B 7. Justin Sun : $8.5B 8. Chris Larsen : $8.4B 9. Pavel Durov : $6.6B 10. Michael Novogratz : $5.6B 11. Michael Saylor : $4.8B 12. Jed McCaleb : $3.9B 13. Tyler Winklevoss : $2.9B 14. Cameron Winklevoss : $2.9B 15. Fred Ehrsam : $2.6B 16. Song Chi-hyung : $2.6B 17. Tim Draper : $2.3B 18. Matthew Roszak : $2.26B 19. Vitalik Buterin : $560M 20. Anatoly Yakovenko : $500M to $1.2B Source: @0xchainink on X

Top 5 Largest Economies in the World 1965 1. United States — $743 Billion 2. Soviet Union — $434 Billion 3. West Germany — $286 Billion 4. United Kingdom — $272 Billion 5. Japan — $171 Billion 1995 1. United States — $7.64 Trillion 2. Japan — $5.55 Trillion 3. Germany — $2.48 Trillion 4. United Kingdom — $1.73 Trillion 5. France — $1.21 Trillion 2026 1. United States — $30.34 Trillion 2. China — $19.53 Trillion 3. Germany — $4.92 Trillion 4. Japan — $4.39 Trillion 5. United Kingdom — $4.27 Trillion Source: IMF, World Economic Outlook, April 2026.

Absolutely incredible. Just 10 stocks have driven 70% of the S&P 500’s gain since March 30th. These stocks have added +16 percentage points to the index’s +23% gain over this period. Nvidia has contributed the most, accounting for 13% of the S&P 500's gain, or +3 percentage points. This is followed by Micron, Apple, and Microsoft, each accounting for 9% of the S&P 500’s advance, adding +2 percentage points. Return contributions of AMD and Alphabet have been 8% and 7%, respectively. Meanwhile, the remaining 490 stocks have accounted for just 30% of the S&P 500's gain since March 30th, adding +7 percentage points. Diversification is dead. Source: @KobeissiLetter on X

Dubai’s DIFC Courts is using Avalanche to make court orders and hearing records verifiable worldwide in seconds. The courts handled $5.1B across 2,500+ claims in 2025 alone. Issuance happens on Avalanche in Dubai, while confidential documents stay off chain. Source: @avax on X

The S&P 500 Bank Index crashes more than 5% in just 2 days, reaching its lowest level in 4 months. Reasons: 1. JPMorgan and Bank of America missed earnings expectations crashing 3% and 8%. 2. All six major banks reported lower fixed-income trading revenue compared to Q2 because of falling bond prices. 3. Bank of America saw the biggest drop at 26%, followed by Goldman Sachs at 24%. 4. Hotter CPI print today have raised expectations of another Fed rate hike this year by 40%. This will weaken loan demand hurting future bank earnings. 5. Rising Treasury yields are putting pressure on banks' bond portfolios. Unrealized securities losses stood at $326.7 billion in June and could be higher now. 6. Investment banking activity is slowing. Global merger and acquisition deal value fell 41% from the previous quarter. Source: @BullTheoryio on X

US bond yields just went vertical again. The US 5-year yield just hit a new 19-year high at 5.15%, 115 bps above the Fed's rate of 3.75% to 4.00%. The US government is now paying its highest rate to borrow for 5 years since 2007, and bond investors are asking for far more than the Fed's rate to lend to it. Source: @BullTheoryio on X

The gap between AI names and the rest of the market is historic: Since the start of 2024, a basket of 42 AI stocks has generated 67% of the S&P 500's price return. In other words, those names have contributed +22 percentage points to the index’s +33% gain over this period. By comparison, the remaining 458 stocks have added +11 percentage points. Additionally, those 42 AI stocks have accounted for 58% of the S&P 500's earnings growth and 81% of CapEx and R&D growth since the start of 2024. The rest of the index has therefore contributed just 20% of total CapEx and R&D growth over the same period. Meanwhile, just 29% of stocks have outperformed the S&P 500 over the last 3 years, close to the ~25% low recorded during the 2000 Dot-Com Bubble. AI is all that matters. Source: @KobeissiLetter on X

US families are falling behind on debt payments. The percentage of families reporting overdue loan payments surged to 19.6% in 2025, the highest since 2010, according to the Fed data. This marks a sharp increase from 12.2% recorded in 2022. This also reverses the gradual improvement between 2013 and 2019, when the percentage declined by -2.6 points. Furthermore, more than 8.0% of families reported they were at least 2 months behind on payments, up from 5.0% in 2022. This comes despite the typical family debt load remaining unchanged since 2022, suggesting that more households are struggling to keep up with existing financial obligations. Americans are falling behind on loan payments at a concerning pace. Source: @KobeissiLetter on X