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? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
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September 29, 2023
Banking Giants Abuzz About Tokenization of Real-World Assets as DeFi Craves Collateral

Rather than an open network like Ethereum, Citi and JPMorgan use a private version of the blockchain.

Franklin Templeton says private blockchains will fade next to fast-innovating public utility chains.

Eventually, the biggest market for banks’ tokenized real world assets will be public blockchain protocols, predicts oracle firm Chainlink.

Banks and blockchains: Together at last?

Tokenization, the blockchain-based ownership and exchange of real-world assets (RWA), was one of the buzzwords at last week’s Sibos conference in Toronto, the global banking industry’s annual technology convention.

Old hands in the cryptocurrency field are probably rolling their eyes, remembering the “blockchain, not bitcoin” narrative that was popular circa 2016. During that crypto bear market, vendors breathlessly pitched sanitized versions of blockchain networks (referred to as the somniferous mouthful “distributed ledger technology”) to financial institutions and other corporations. Little came of these pilot tests and proofs of concept.

But while it’s easy to feel déjà vu, blockchains, both public and private, are evolving and, some say, on a path to converging.

At one end of the spectrum are banks and financial institutions, whose blockchain activities have largely been confined to using permissioned networks, and are attracted by purported cost-saving efficiencies. These firms are now eyeing tokenization roadmaps that would digitize everything from money market funds to large but illiquid private markets and areas like real estate. Public blockchain ecosystems are at the other end of the spectrum, looking for asset diversification to fuel areas like decentralized finance (DeFi).

“Eventually the biggest market for real world assets from banks will be public blockchain protocols that need diversified collateral,” said Sergey Nazarov, the CEO of Ethereum data oracle provider Chainlink. “I think the public blockchain protocols are the ones that will be willing to pay the biggest premium for this diversified collateral. The yield from the public blockchain world will be very attractive to banks and public chains will greatly benefit from the assets that the banks tokenize and put into their protocols, making those protocols more resilient and reliable.”

To be sure, financial institutions will likely proceed cautiously in the U.S., where regulators are discouraging them from touching anything related to crypto in the wake of last year’s price crash and the FTX exchange’s collapse. Europe and Asia, by contrast, could steal a march on the U.S., given the relative clarity in these jurisdictions.

Even so, there also seems to be some convergence among enterprises on Ethereum-compatible products and services: Last week saw announcements from Citi, which is piloting tokenized deposits and a trade finance application, and details of a tokenization engine from institutional custody firm Taurus, which has begun working with Deutsche Bank among others.

JPMorgan and EthereumTokenization isn’t new. It’s been the mission for mega-bank JPMorgan since beginning its blockchain program back in 2015 and releasing Quorum, its permissioned fork of the Ethereum code. The bank’s Onyx Digital Assets platform, settling with tokenized fiat JPM Coin, has handled over $900 billion of transactions since going live a few years ago (admittedly, a drop in the bucket for a bank that does over $8 trillion of payments a day.)

Edging towards the public Ethereum mainnet has always been a delicate business, given that banks have traditionally viewed public blockchains as more or less radioactive, both a reputational and compliance risk. JPMorgan’s head of Onyx Digital Assets, Tyrone Lobban, noted that the public Ethereum chain has evolved significantly over time, from the proof-of-work consensus mechanism to proof-of-stake. (The former is more energy-intensive and has made Bitcoin a bete noire of environmentalists, giving ESG-conscious banks reason to prefer the latter.) Plans to add better scaling technology and multiple data layers on Ethereum could also cater to the needs of enterprises over time, he said.

“You hear terms like ‘subnets’ or ‘supernets’ or ‘hyperchains.’ Basically, these things are a more controlled space on a public blockchain,” Lobban said. “You still get the benefits of having a highly redundant, ever-persistent settlement rail in the public blockchain, but you have the ability to operate in a more controlled environment with AML KYC [anti-money laundering, know-your-customer] requirements, for instance. So a smaller set of participants are validating transactions or are privy to those transactions, without necessarily exposing all of that to the full public ecosystem,” he added.

The Franklin Templeton Effect

Despite an uncertain regulatory environment in the U.S., $1.4 trillion investment giant Franklin Templeton, has gone straight to public blockchains.

Franklin Templeton started exploring the tech back in 2019 because the firm was doing its own transfer agency work, recording the ownership and buying of shares in a mutual fund, and understood how much cost was buried in that task, explained Franklin Templeton’s head of digital assets, Sandy Kaul.

“We ran a side-by-side pilot, demonstrating to the [U.S. Securities and Exchange Commission] that the books and records that we're keeping on the public blockchain are correct and equal to the traditional transfer agency book of records,” Kaul said. “We got them comfortable, and we have been running that fund for a year and half now as a token on public blockchain.”

Kaul also referred to the evolution of the public Ethereum chain and its shift to proof-of-stake, which, she said, provided free benefits to anyone running a node on the network.

“It’s going to be very difficult for these private blockchains to keep pace with that rate of innovation and with the cost efficiency of having the big public blockchains operating almost like the utilities of the future,” she said.

Citi’s Token Services

Like JPMorgan, Citi is not a newcomer to digital assets, beginning blockchain-related work back in 2015 at its Innovation Lab. Earlier this year, Citi hired enterprise blockchain veteran Ryan Rugg, a former executive at IBM and banking blockchain specialist R3, to head up the bank’s new token services unit. The bank’s tokenization pilot operates on a permissioned basis and is only running in the U.S. and Singapore for now.

“I sometimes joke that I probably know more about what not to do, than what to do – because of my experience at tech companies big and small, and building consortia and watching applications evolve. One of the big lessons I learned is you can’t have a large entity owning the network,” Rugg said.

An example of Citi working on a shared market utility using digital assets is the Regulated Liability Network proof of concept with the Federal Reserve Bank of New York’s Innovation Center and several banks and industry participants, Rugg pointed out. She said interoperability between banks’ tokenized fiat offerings is the way forward.

“We recognize that clients want multi-bank, multi-jurisdiction, cross-border liquidity,” Rugg said. “They don’t want a siloed system; they want to be able to move liquidity freely across a multitude of banks and to streamline that operational process and optimize their liquidity across their markets.”

Lobban of JPMorgan said discussions about moving assets across chains come up, particularly as other banks’ platforms begin to emerge, and that the largest bank in the U.S. is exploring various interoperability solutions. But he added that it’s a complex problem with non-technical challenges that need to be addressed to become a reality.

“Deposit tokens are representations of commercial bank money, so you’re dealing with different credit ratings and credit risk associated with these commercial bank issuances, as well as important regulatory guidelines,” Lobban said. “There are also legal considerations when moving assets out of your official books and records to someone else’s official books and records.”

https://cryptonews.net/news/blokcheyn/27057395

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🔑Blockchain lowers barriers so that everyone wins🔑

With BENJI, Franklin Templeton used the Stellar network to bring its money market fund onchain, reducing the minimum investment from $2,500 to just $25.

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🤔ON FOX NEWS? One Has To Wonder... WHY NOW?🤔

ARE WE ALONE? Tonight on @SpecialReport a look at a new documentary on UAP's and what government officials may know about top secret programs.

00:07:02
🚨 The convergence of crypto and traditional finance is accelerating the Internet of Value 🚨

Institutional payments. Secure asset custody. Regulated stablecoins. Everything onchain.

It's happening: the convergence of crypto and traditional finance is accelerating the Internet of Value.

That’s a wrap for Ripple Swell 2025. We’ll see you next year, NYC! 🗽

00:01:41
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading

🚨BREAKING: Swedish Treasure Hunter Dennis Asberg (@dennis_asberg) May Have Found a 60 Meter UFO on the Baltic Seafloor (With electromagnetic Anomalies, Right Angles, Corridors And It’s Not Attached To The Seabed Floor Like a Normal Geological Formation!) 🚨

World-class Swedish wreck diver Dennis Åsberg, co-founder of Ocean X, reveals 15 years of data from the Baltic Sea Anomaly–a 60 meter disc-shaped structure at 90 meters depth producing GPS failures, electromagnetic interference, perfect right-angle geometry, and a new 2025 sub-bottom profile suggesting the object is detached from the seabed. His team has retrieved biological material, burned debris, basalt (in a region where it shouldn’t exist), and recorded temperature anomalies approaching 0°C directly over the structure.

Åsberg, who has recovered Tsarist submarines, 1600s cognac shipments, and dozens of major wrecks, says this is the most anomalous discovery of his career.

1. The Discovery (2011): On a midnight sonar sweep while hunting ...

🚨3I/ATLAS Is At It Again! The Tale Of Tails

A new image out of Thailand shows something I honestly didn’t expect this late in the game. A clean sunward anti tail AND two separate tails at the same time. Here’s why this is odd:

If this were a normal comet, the anti-tail should’ve faded by now. Instead, it’s sharp, structured and persistent. So we’re down to a few possibilities:

Massive dust grains are getting blasted out in huge amounts.
Icy fragments flashing off before they ever get pushed away.
Or… a directed jet scenario that would mean engineered thrust, not natural outgassing.
Not saying that’s the answer, just that the data keeps forcing the conversation.
The plan now is simple, we wait for the spectroscopic numbers. Natural gas moves in the hundreds of m/s. Anything in the km/s range and that’s a different story entirely.

We’re one month from closest approach on December 19.

Whatever 3I/ATLAS turns out to be… it’s been a roller coaster of a ride so far.

Keep Your ...

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1. JPMorganChase 𝗹𝗲𝘁𝘀 𝗰𝗹𝗶𝗲𝗻𝘁𝘀 𝘀𝘄𝗮𝗽 𝗝𝗣𝗠𝗗 𝗳𝗼𝗿 𝗨𝗦𝗗𝗖 𝗼𝗻 𝗕𝗮𝘀𝗲

• JPMD = JPM's permissoned bank deposit token
• Previously institutions would redeem JPMD back into fiat in a bank account, staying inside of the JPM ecosystem; now they can swap between JPMD to USDC on Base, and from there hold or send
→ Meaning: Falling barrier to institutions bringing big $ onchain

2. Visa 𝗽𝗶𝗹𝗼𝘁𝘀 𝘀𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻 𝗽𝗮𝘆𝗼𝘂𝘁𝘀

• Select partners can fund payouts in fiat to creators and gig-workers in USD-backed stablecoins
• "Stablecoin" was mentioned 25 times in Visa's Q4 earnings call; stablecoin-linked card spend was up 4X YoY and total settlement volume reached $2.5B annualized
→ Meaning: The largest card network in the world is speedrunning cheaper, faster global payments, now directly to...

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3I/ATLAS — Secret Laws Of Gravity
Unlocking the future of space travel through the precise calculation of time and orbital trajectories.

"My preliminary analysis suggests two principal hypotheses regarding the reported phenomenon known as '3I/Atlas':

  1. A Coordinated Psychological Operation (PsyOp): The phenomenon may constitute a calculated effort to manipulate public sentiment or induce fear, potentially preceding a planned, large-scale deception (referred to informally as 'Project Bluebeam').

  2. A Highly Anomalous Object: Alternatively, the phenomenon represents an authentic, significant anomaly warranting serious scientific or intelligence scrutiny.

Regardless of its origin, '3I/Atlas' represents an historically noteworthy development that necessitates close, informed observation."

 

~Crypto Michael | The Dinarian 🙏

Abstract Introduction:

New data is now showing something that arrived early and its changing colors as we previously predicted.

In orbital mechanics where trajectories are calculated centuries in advance with accurate precision measured in seconds.

A 11-minute deviation is not a rounding error.

It’s not a typo in the database.

It’s not close enough.

"It’s Physically impossible.”

Now The longest government shutdown in U.S. history still blocking NASA releases while the object executed its closest Fly-by approaches to Mars, The Sun and Venus at the moment of maximum observational blackout.

But orbital mechanics don’t care about “government shutdowns.”

Our observations Don’t Stop.

And the math doesn’t wait for “Press releases.”

The math says this:

“If 3I/ATLAS is natural, it should have lost about 5.5 billion tons of mass.”

It didn't.

1. The 5.5 Billion Ton Problem:

Let’s start with what everyone agrees on: 3I/ATLAS “now” arrived earlier than pure gravitational predictions would allow. Even though we have been mentioning this trajectory change over 2 Weeks ago (October 21st Article HERE) TRACKING 3I/ATLAS .

The scientific consensus explanation? “Natural outgassing” the "rocket effect." As water ice sublimates near the Sun, it creates thrust, like a slow-motion rocket engine powered by evaporating ice. Comets do this all the time. It’s normal. It’s natural. It’s explainable.

Except for ONE problem.

The Physics Don’t Add Up!”

To generate enough thrust to arrive approximately “11 minutes early” would require shedding a staggering amount of mass.

Our calculations show “over 5.5 billion tons” of gas ejected over the perihelion passage.

Think about that for a moment.

That’s not a little puff of vapor.

That’s not some gas leaking from surface cracks.

That’s 15% of the object’s total estimated mass.

If 3I/ATLAS lost that much material naturally, it would create a debris cloud larger than Jupiter’s magnetosphere—visible to amateur telescopes from Earth. Absolutely impossible to miss in professional observations, and bright enough to be catalogued by every sky survey on the planet.

1.1 ~ The Plume Paradox:

Here’s where it gets interesting:

No such cloud has yet to be observed.

Not by Hubble. Not by JWST. Not by ground-based observatories. Not by the Mars orbiters that watched it pass at 30 million kilometers.

The brightness remained within “expected limits.” The coma showed stable & geometric shifting features. The tail structure now disappeared (but that’s another story). The main one is that: “The debris cloud that should exist — simply doesn’t.”

This isn't a minor discrepancy.

This is complete, mathematical failure of the natural comet hypothesis.

Part 2: The Industrial Signature:

So if natural sublimation didn't create the thrust, what did?

The answer is hidden in the chemistry—specifically, in what shouldn’t be there. “The Nickel Anomaly.” When multiple astronomers analyzed 3I/ATLAS’s spectral signature, they found something extraordinary: “nickel vapor” (Ni) at extreme distances from the Sun, where temperatures should be far too cold for metals to vaporize naturally.

Nickel doesn't just evaporate on its own at those temperatures.

It needs HELP.

And there’s only one known process—natural or industrial—that produces a volatile nickel-carbon compound at cold temperatures which we have said several times previously;

Nickel Tetracarbonyl: Ni(CO)₄

This is not a natural cosmic process.

This is an “industrial chemical pathway” used on EARTH for metal refinement!!!

It forms at 120°C and decomposes at 180°C allowing nickel to vaporize at temperatures where water ice would remain frozen solid.

It is LITERALLY, an industrial refrigerant for metal processing.

The presence of Ni(CO)₄ in the plume tells us two things:

  • The core is not ice — It’s a nickel-rich, engineered structure.
  • The process is not passive sublimation — it’s an active, controlled system.

The nickel vapor isn’t contamination.

It’s not a coincidence.

It’s Exhaust.

3. Secret Gravity (SOEG) Model:

This is where our research team proposes something NEW.

We call it The “Self-Optimizing Ejection Guidance (SOEG) Model”

A Brand New Scientifically defensible framework that explains the acceleration not as chaotic outgassing, but as “controlled propulsion.”

The SOEG Model (Project EE / 3IE)

The System:
• Volatile Reservoir — CO₂ ice + Nickel-rich metallic core.
• Solar Heating — Perihelion triggers sublimation at optimal moment.
• Magnetic Ionization — Internal magnetic field ionizes nickel vapor into plasma.
• Anisotropic Jets — Plasma channeled through focused nozzles. (not random cracks)
• Thrust Optimization — Maximum momentum transfer with minimal mass loss.

Unlike natural cometary outgassing—which is chaotic, omnidirectional, and wildly inefficient. The SOEG Model Fully Represents: (CONTROLLED, DIRECTIONAL, OPTIMIZED PROPULSION.)

It’s the engineering solution to interstellar navigation: Using a “magnetofluidic drive” that uses the Sun’s + Nearby Planets & Star energy to activate a propulsion system that was BUILT.

The secret is in the magnetic field. By ionizing the nickel-carbon vapor into a high-velocity plasma jet, the system achieves thrust efficiencies that natural sublimation could never match.

This isn’t science fiction. This is “magnetohydrodynamics” the same physics that powers experimental plasma thrusters being developed by NASA and ESA for deep-space missions.

The difference?

We’re building prototypes…

Someone else already perfected it.

4. The Scientific Statistical Test:

Here’s what makes it undeniable.

Natural comets exhibit HIGH temporal variance in their acceleration parameters.

Technical terms like (A₁) and (A₂) that describe how thrust changes over time. Natural outgassing is messy, chaotic & unpredictable.

Our Prediction:

We formally predict that when sufficient post-perihelion data is published — expected from JUICE observations (data release February 2026) and ground-based telescopes through December 2025— 3I/ATLAS WILL show:

  • (A₂ parameter near zero) — phase-locked rotational coherence.
  • Temporal drift < 0.5σ — stability far beyond natural variance.
  • “Thrust vector alignment” with rotational axis — body-fixed engine signature.

If ALL 3 conditions are met.

The probability that 3I/ATLAS is a natural comet drops below 0.01% (a >4σ statistical rejection).

This is not speculation. This is a time-stamped, falsifiable prediction.

By February — March 2026, we will either be proven right or wrong.

The data doesn’t care about our theories. It only cares about what actually happens.

5. The Blue Hue 🔵:

Now there’s one more piece of evidence—and it’s visible to the naked eye (well, through a telescope). “The Color Anomaly.”

Natural comets scatter sunlight off dust particles, producing a yellowish-red glow. At 1.36 AU from the Sun, 3I/ATLAS should have appeared reddish-orange from thermal emission.

Instead, observers noted something strange: “A distinct blue fluorescence” in the coma.

What Blue Light Means?

Blue emission in a comet’s coma comes from highly ionized species—primarily “CO” (carbon monoxide ions) and certain excited metallic vapors. This requires enormous, “FOCUSED” energy to achieve.

You don’t get this level of ionization from passive solar heating. You get it from ~ Active Plasma Generation. The blue hue is the visible proof of the SOEG engine operating at perihelion. It’s the "engine glow" of a magnetofluidic drive generating high-energy plasma to achieve maximum thrust efficiency.

Compare:
- Natural comets (Hale-Bopp, NEOWISE, 67P, Etc.): Usual Yellowish-red dust scattering.
- Expected for 3I/ATLAS at 1.36 AU: Reddish-orange thermal glow.
- Observed in 3I/ATLAS: Distinct “Blue” plasma fluorescence.

This isn't subtle.

This is the difference between reflected sunlight and an active thruster firing.

5.5 ~ Convergence of Evidence:

Let's put it all together.

The Self-Optimizing Ejection Guidance (SOEG) Model is not speculation. It’s not wild theorizing. It’s one of the only frameworks that coherently explains:

✅ The early arrival— non-gravitational acceleration without natural explanation.

✅ The missing 5.5-billion-ton debris cloud — controlled thrust with minimal mass loss.

✅ The Ni(CO)₄ industrial signature — engineered propulsion chemistry.

✅ The blue plasma glow — active ionization system visible during perihelion.

✅ The statistical impossibility — phase-locked stability beyond natural variance. (pending verification)

However each piece of evidence, standing alone, is anomalous but potentially explainable.

Together, they form an interlocking pattern that demands a technological origin.

But then there’s the Silence.

Venus conjunction: Still offline.

This is not incompetence.

This is recognition.

THEY know something we’re still calculating.

December 19, 2025: 3I/ATLAS reaches closest approach to Earth at 167 million miles.

“If the calculations are correct, the 5.5-billion-ton debris cloud should be impossible to miss. Every telescope on the planet will be watching.”

All of this new information scheduled to be released should definitely include the following: High-resolution spectroscopy, morphological analysis, particle environment data and MOST CRITICALLY the astrometric parameters that will confirm or refute our SOEG model’s predictions.

“If the A₂ parameter shows phase-locked stability, the SOEG model is confirmed.”

Conclusion:

The Numbers Don’t Lie. The orbital path was not set by gravity alone. The acceleration was not powered by ice. The chemistry was not natural. And the timing is not “coincidental.”

3I/ATLAS is a message written in orbital mechanics, plasma physics, and industrial chemistry—a message we have “74 days” left to fully decode.

The mathematics are clear.

The predictions are calculated.

We don't have to speculate about what it is.

We just have to (wait) for the complete data packet to arrive.”

And when it does, one of two things will happen:

Either the natural hypothesis survives (unlikely, given the evidence). Or we confirm what the numbers have been screaming to us since October are TRUE.

Something pushed it. Something controlled it. Something arrived exactly when it needed to.”

Or The A-parameters will lock.

The plasma signature will confirm.

The debris cloud will be absent.

And the institutional silence will make perfect sense.

Because you don’t announce a discovery like this through a press release.

You announce it through a “Calculated Strategy.”

Analogy Conclusion:

The orbital path was set by laws that were not known,
For where the starlight failed, a force was subtly sown.

No dust and ice, but Nickel in the plume’s blue gleam,
A pulse of hidden power, of controlled, forgotten dreams.

The A-Parameter locks, The true secret of the sphere,
The Simultaneous Truth arrives, When all the numbers are near.

— Earth Exists

Additional Reference & Data Source Links 🖇️:

EARTH EXISTS Documentation:
- [Previous article. 35 Days of Silence — 3I/ATLAS]

Source

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BlackRock Is Manipulating The Price Of Bitcoin👀

Blackrock possess a strategic depth that goes far beyond initial appearances. When the general market perceives selling and traders respond with emotion, these major players are often operating on a much more profound level. They adeptly identify and leverage every available mechanism to influence market dynamics. Their power isn't in direct control of the asset, but in understanding how to move the market without ever taking direct ownership.

What entity has become the most prominent corporate champion of Bitcoin ($BTC)?

It's the one with the massive treasury holdings, known as Microstrategy.

 

However, the major strategic challenge lies here: the size of their Bitcoin position is fundamentally linked to their external financing, typically in the form of debt.

This reliance on significant debt creates an inherent vulnerability—a dependence on creditors and shareholders. When an entity's position is highly leveraged, that dependence makes them susceptible to market manipulation or strategic pressure from external financial forces.

When a highly leveraged corporate holder of a significant asset (like $BTC) faces external financial stress, that pressure inevitably transfers to the asset itself.

Blackrock's goal isn't to induce a market crash, but rather to establish a dominant position and control.

Any substantial sale of major cryptocurrencies like $BTC or $ETH initiated by Blackrock, can be interpreted not as routine trading, but as a deliberate effort to manipulate market sentiment and pricing.

Blackrock is deploying a sophisticated combination of tactics: they simultaneously generate market volatility through strategic sales of the asset ($BTC) while accumulating shares in key corporate holders (the stock symbolized by $MSTR).

The deeper intent is to leverage this equity stake to direct the corporate strategy of the highly leveraged Bitcoin champion.

With a sufficiently large ownership percentage, this influence becomes highly effective. The resulting market power is therefore a function of both manipulating price movement and controlling corporate policy.

Is Microstrategy (the company represented by the $MSTR stock) vulnerable to this kind of pressure? The evidence suggests yes.

A substantial stake held by Blackrock grants them effective leverage to influence and manipulate the company itself.

When the company's shares experience a significant decline, the leadership is often compelled to take action, potentially buying back their own stock. This action is driven by the fact that falling share prices directly intensify financial and market pressure on the entire organization.

If the stock of Microstrategy continues a sustained decline, lenders will inevitably begin to re-evaluate and revise the terms of existing loans. This is a critical point of failure for the entire strategy.

The fundamental operational model of this corporate champion works like a closed loop:

  • It secures debt financing (taking loans) to acquire $BTC.

  • Alternatively, it issues new equity (selling shares) to acquire $BTC.

Crucially, the ongoing interest payments on this substantial debt are often managed by the mechanism of issuing even more shares, creating a continuous cycle of dilution and reliance on a high stock price.

A major consequence of rising leverage is the escalating cost of borrowing, requiring Microstrategy to source even larger amounts of capital.

The most straightforward solution—to issue and sell more stock—proved to be insufficient.

In fact, the situation worsened: the company’s recent attempt to raise funds through a stock offering did not fully sell out. This failure directly resulted in a significant liquidity shortfall, hamstringing Microstrategy’s ability to meet its financial obligations and continue its asset acquisition strategy.

And the ultimate shock came when Microstrategy—the very entity that vowed it would never liquidate its holdings—began to sell.

These weren't insignificant trades; the sales were valued at billions of dollars.

The key question now becomes: Does this sudden, massive reversal signal the imminent collapse of Microstrategy, or is it simply a necessary, albeit drastic, maneuver of 'business as usual' under extreme duress?

There appear to be two primary strategic objectives behind Blackrock's calculated moves:

  • Scenario A (Direct Dominance): Blackrock aims to neutralize its most prominent competitor (the corporate Bitcoin accumulator) in order to seize the title as the largest holder of $BTC.

  • Scenario B (Indirect Control): The institution’s goal is to establish absolute market control and influence, preferring to leverage Microstrategy to execute the most aggressive or politically difficult actions.

The outright financial destruction of Microstrategy is highly improbable. Such an action would trigger a severe market crash that could take years to fully repair.

The far more intelligent strategy is integration and control.

Under this model, Microstrategy remains operational, while Blackrock secretly dictates strategy. This allows Microstrategy to absorb the market blame for any necessary but controversial manipulation, a classic and often dirty tactic used by high-powered financial entities.

In the immediate future, the market will continue to exhibit strong reactions to the strategic maneuvers of Blackrock.

When they execute sales, it instantly captures headlines, is aggressively amplified by the media, and causes fearful retail traders ('weak hands') to panic and exit their positions.

Every decrease in price that results from this panic directly translates into a superior entry point for Blackrock. This clearly illustrates that the current market environment is driven purely by emotion, making it a survival game reserved only for those with the strongest resolve.

In the long run, the nature of $BTC will likely shift, moving away from its original ideals of being completely free and decentralized.

The vast majority of the available supply is projected to become highly concentrated within a small number of major corporations and investment funds.

Consequently, the price cycles will no longer be reliably tied to events like halvings or popular narratives. Instead, they will be driven primarily by government and central bank policy decisions, overarching macroeconomic conditions, and the internal political maneuverings of the world's most dominant funds and corporations.

Blackrock's goal is not to eliminate $BTC; instead, they are focused on constructing an elaborate system of control around the asset.

Microstrategy (the stock symbolized by $MSTR) remains a powerful tool, but it now operates under terms and directives that the company's leadership no longer fully dictates.

Since direct command over the decentralized asset is impossible, control is established through strategic influence over the largest corporate and fund custodians. Moving forward, Blackrock will be the primary entity determining the market's trajectory.

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A Request for NASA to Release Scientific Data on 3I/ATLAS

During my recent podcast interview with Joe Rogan (accessible here), I had mentioned the unfortunate circumstances, under which NASA had not released for four weeks the images collected by the HiRISE camera onboard the Mars Reconnaissance Orbiter. These images were taken on October 2–3, 2025, when the interstellar object 3I/ATLAS passed within 30 million kilometers from Mars. The images are extremely valuable scientifically because they possess a spatial resolution of 30 kilometers per pixel, about 3 times better than the spatial resolution achieved in the best publicly available image from the Hubble Space Telescope, taken on July 21, 2025 (accessible here and analyzed here). Whereas the Hubble image was taken from an edge-on perspective since Earth and the Sun were separated by only ~10 degrees relative to distant 3I/ATLAS, the HiRISE image offers a sideways perspective, valuable in decoding the mass loss geometry and glow around as it approached the Sun.

The delay in the data release was argued to be the result of the government shutdown on October 1, 2025. Nevertheless, conspiracy theorists suggested that it may have to do with evidence for extraterrestrial intelligence in the HiRISE images. When asked about it, I suggested that the delay is probably not a sign of extraterrestrial intelligence but rather of terrestrial stupidity. We should not hold science hostage to the shutdown politics of the day. The scientific community would have greatly benefited from the dissemination of this time-sensitive data as astronomers plan follow-up observations in the coming months.

Joe Rogan suggested that I contact the interim NASA administrator, Sean Duffy. The following day, I corresponded with congresswoman Anna Paulina Luna regarding a related formal request from NASA. Following our exchange, Representative Luna wrote a brilliant letter to NASA’s acting administrator Duffy.

We all owe a debt of deep gratitude for the visionary support displayed by Representative Luna to frontier science through her letter, attached below.

Avi Loeb is the head of the Galileo Project, founding director of Harvard University’s — Black Hole Initiative, director of the Institute for Theory and Computation at the Harvard-Smithsonian Center for Astrophysics, and the former chair of the astronomy department at Harvard University (2011–2020). He is a former member of the President’s Council of Advisors on Science and Technology and a former chair of the Board on Physics and Astronomy of the National Academies. He is the bestselling author of “Extraterrestrial: The First Sign of Intelligent Life Beyond Earth” and a co-author of the textbook “Life in the Cosmos”, both published in 2021. The paperback edition of his new book, titled “Interstellar”, was published in August 2024.

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