RCIF II - Five bullet Friday - issue # 14:52:14 -0700

    Crypto markets continue to be very fearful. Some of this fear came from traditional markets which resulted in April month being the worst since 2008. I expect a decisive move in the crypto market once Ethereum starts moving up again.

1. I was delighted that Elon Musk is now able to take over twitter. The deal has not closed yet, but I expect major resistance coming from the US Government and their 3-letter agencies. All the major web 2 companies are subservient surveillance partners for the US government, including Twitter. Now they are afraid that the truth will be revealed and expose all the false propaganda put forth by our bureaucracy. I really enjoyed reading this article from Balaji Srinivasan, who is a renowned VC.

2. Our government proposed a new department called, "Disinformation Governance board" under the Department of Homeland Security. This department became a massive behemoth in the federal bureaucracy. This is exactly like the "Ministry of truth", as coined by George Orwell in the book 1984. This was brought up the moment Elon's intentions to acquire Twitter came into public view. This sounds like a government propaganda machine funded by taxpayers.

3. OHM is currently launching a NFT marketplace that competes with OpenSea. Despite the negative market action in other DeFi protocols, NFT markets seem to be unfazed. OHM is incubating a vibrant ecosystem of protocols that extend the OHM's reach in DeFi markets as well as NFTs. I am constantly amazed at all the integrations that are happening on OHM protocol.

4. KLIMA has announced this week that they are launching cross-chain staking. This is a major move from KLIMA and exposes the token to demand coming from chains other than Polygon. This was implemented by li.fi protocol to provide cross-chain liquidity.

5. YGG tokens give us exposure to the Metaverse investments in our Portfolio. YGG has partnered with Wildlife Studios, which is a leading mobile game-developer on NFTs. Their mobile games have 65 million downloads so far and are popular in the NFT gaming community. It is massively bullish for YGG but the current price action does not reflect it.

Have a wonderful weekend!

Sam Ikkurty