Bitget loses control of $351.6M
This week Bitget confirmed unauthorized transfers involving part of its hot and warm wallet infrastructure.
The musical chairs of sovereign debt
Most people spend their entire lives listening to what others say instead of watching what they actually do with their money.
Bitget loses control of $351.6M
This week Bitget confirmed unauthorized transfers involving part of its hot and warm wallet infrastructure.
The musical chairs of sovereign debt
Most people spend their entire lives listening to what others say instead of watching what they actually do with their money.
Hold or sell?
This has probably been one of the biggest changes in my trading this year.
Compute is the new sovereign reserve
Forget what people are screaming about on the timeline this week.
Apparently we need to verify the blockchain now
I genuinely thought checking the contract address was annoying enough.
Xi’s panda diplomacy
The entire thesis around the panda lore started in a chat with a few friends, watching the news coverage of Trump and Xi’s summit in China, back in May.
Trenches idiocracy
Down in the on chain trenches, it is pure PvP. Idiocracy abounds, and if you don’t understand how the food chain works, you are the food.
Solana killed Robinhood Chain?
“Robinhood Chain is over.” “Liquidity is going back to Solana.” “$STONK proved it.”
Clarity Act & Macro
Most market participants expected the Clarity Act to clear the Senate floor without major friction.
Arc: the 100x happened before Day One
Before Arc became public, native USDC on the chain was already becoming its own little market.
NFTs: Standard & zkSNARKs
Through my network, I minted one Standard and one zkSNARK NFT.
I made more money when I stopped touching things
Which brings me to the part of this week that made me laugh at myself.
Trading Psychology
By Friday the 11th, my meme coin portfolio reached an all time high of $151,000.
Kalshi, IcoBeast & Beni
Over the weekend, a stat circulated from ico showing Kalshi capturing a reported 97.6% market share in crypto prediction volume (ico’s post).
How you trade says a lot about you
“The market is a device for transferring money from the impatient to the patient.” Warren Buffett
The beach strategy: winning by forgetting
The single best trade execution setup is often the one you set and completely walk away from.
People over complicated dd: the simple edge
Lines, Fibonacci retracements, and indicator overlays look convincing in post market recaps, but in high velocity, reflexivity driven markets, liquidity is social.
Exit signals: when whales eat shrimp
Psychological detachment also means knowing when to respect macro exit signals, even when your internal bias tempts you to stay long.
Micro vs. Macro: where are we in the cycle?
Despite short term volatility and market liquidations, taking a step back reveals the broader structural landscape.
The hardest part of a trade is leaving it
A few days ago I saw something on PONS that I genuinely learned from.
You don’t have to stop being bullish to sell
This is probably the biggest thing I took from the PONS trade.
Profit taking is supposed to feel a little bad
I think this is something traders should accept much earlier.
Airdrops are the same problem with “free money”
Airdrops are a funny version of this because your brain treats them differently.
The top only looks obvious afterwards
Everyone wants to sell the top because every chart makes it look incredibly easy.
Robinhood already has the users
I’ve probably talked about Robinhood Chain too much over the last few weeks, but there’s a reason why I keep coming back to it.
Crypto has spent years trying to get normal people onchain
If you’ve been here for long enough, think about how ridiculous the process of entering crypto used to be:
I’ve seen this movie before
There’s also a very obvious reason why I’m not completely sold yet.
Robinhood is doing this backwards
This is ultimately the reason I keep watching the chain.
Retail is back, but the plumbing moved
In 2021, the action happened on WallStreetBets with $GME.
How to spot hot tickers early
If you wait until a ticker hits the top of DEXScreener, you are the exit liquidity.
Trenching: how to build an alpha pod
Trenching alone is a fast way to blow up an account.
Execution, sizing, and signal filters
Finding the token is 20% of the trade. Execution and sizing carry the rest.
There’s always a bigger fish
Paper gains are a fugazi. It’s fairy dust. It doesn’t exist until it hits stablecoins.
On chain trenching psychology
Trenching takes a massive physical and mental toll.
The Robinhood chain & retail liquidity
Despite personal reservations about Vlad and legacy Robinhood shenanigans, ignoring where volume is migrating is a fatal mistake.
Paper gains, fugazi millions
Consider this scenario: a trader apes $40k into a project around a $1m market cap.
The liquidity illusion
You can somehow highlight this tweet so the text is shown i think:
Cabal Mechanics: Main Wallet vs. Shadow Network
The most profitable market actors don’t fight liquidity, they engineer it using public visibility:
The trenches aren’t for everyone
In recent years, the center of almost every success story has had one factor in common, memecoins.
Maybe You’re a Fish Trying to Climb a Tree
Following this, it’s easy to think that maybe something is wrong with you if you’re not successful at this type of trading
Your best asset is Reputation
The biggest asset you can have in this market: Your reputation.
How Value builds Reputation
Another way that I love is providing value. Why do scammers, despite literally stealing money, continue to be successful in crypto?
The White House & the $40 trillion math
Welcome back to La Sobremesa. In Edition 02, we talked about curating your inner circle and why holding thesis driven conviction beats overtrading.
Precision on gold & commodities
Spot gold is trading around $4,640 per ounce, resuming its macro uptrend after a couple months of healthy consolidation following its previous peak near $5,475.
Stonks & portfolio balance
Crypto is our asymmetric growth engine, but traditional equities belong in every balanced, resilient portfolio.
Crypto Legends: Minh
MINH | @minhxdinasty I want to give a shoutout to Minh this week.
Inner circles & high signal alpha
In our first letter, we wanted to give you some background information on ourselves.
Borrowed conviction & social traps
There was an ongoing discussion this week on X about creators wanting to be traders and how it was easier to make money online before this cycle.
Market Probabilities
My best guess is that we are in the early stages of the new bull run.
Why we write this and who we are
I have always been influenced by multiculturality. Born to a Spanish mother and a German father I never really fit in during my childhood.
Mistakes and lessons along the way
I think one of the things that has defined me the most during these years is my inability to give up.
The meaning of “network”
It doesn’t matter where you are from or where you live , “network” has the same meaning in every corner of the world.
Last week · La Sobremesa 08
Watch the money, don’t get hacked.
Supported by
La Sobremesa is proudly supported by Phantom, a team whose long term vision aligns with everything we build and write about here.
Free, every Monday
Pull up a chair.
The whole edition lands in your inbox once a week. Subscribe on Substack, it's free.
Subscribe to La Sobremesa
At the table
Carlitos
Half Spanish, half German. In Bitcoin since late 2017, studied psychology, played years of poker and thinks markets are probability, human behaviour and math.
StarPlatinum
Got into crypto in 2021 with €100 of Shiba Inu, grew from zero by becoming the voice of NFTs on Polygon, and has been on chain every cycle since.
Every edition
Archive →
No. 09
Networking, Social Trading, Crypto Jobs tips and NFTs.
No. 08
Watch the money, don’t get hacked.
No. 07
Trading & Market psychology, SEC announcement and best/worst trades.
No. 06
Trading strategies, taking profits, conviction plays.
No. 05
Trenching Secrets, Stocks, Real Signal and Robinhood Chain!
No. 04
Everyone is winning except you?
No. 03
Reputation and Provided Value, Macro and Finances, Special
No. 02
Inner Circles, Thesis over Noise, Markets + Trading, Cabals + Trenches, and much more.
No. 01
Chapter 0