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OVERVIEW
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Here’s What’s Happening 👇
OLD NEWS
The Day Strangers Carried Strangers 📆
This is usually called the Other Stuff That Happened Today, But A Long Ass Time Ago section and it’s usually the very last section of the newsletter. But I’ve renamed it today and put it at the top.
As this section is usually a compilation of important people and events that occur on a specific day, today’s is reserved for several stories and people on the 25th anniversary of this most solemn day.
Morgan Stanley’s VP of Security and a decorated Vietnam Veteran (also served in the British Armed Forces before moving to America), Rick Rescorla, saved 2,687 people. He ignored instructions telling the South Tower to remain inside and ordered 2,700 Morgan Stanley employees to evacuate immediately. He used a bull horn and sang the songs of his British and American blood, God Bless America, Men of Harlech (where today’s headline comes), and other Cornish tunes to keep people moving. He was last seen on the 10th floor.
Two Port Authority construction workers, Pablo Ortiz and Frank De Martini, grabbed crowbars and climbed toward the North Tower’s damaged floors. They broke jammed doors and freed at least 50 people. After sending them on, they both continued upward, and died when the tower collapsed.
Prior to becoming the current U.S. Secretary of Commerce, Howard Lutnick, was CEO of Cantor Fitzgerald. On September 11, 2001, 658 Cantor Fitzgerald employees, including Lutnick’s brother and best friend, died at 1 WTC. He only avoided being there because he brought his oldest son to his first day of kindergarten. He attended 20 funerals a day for 35 days.
1st Lt. Heather “Lucky” Penney and Lt. Col. Marc “Sass” Sasseville were ordered into the air to defend Washington from another hijacked aircraft. Their F-16s carried no missiles, so they made their own plan: Sasseville would ram the cockpit and Penney would strike the tail. Neither expected to survive. Flight 93’s passengers brought the aircraft down before the fighters could reach it.
The passengers of Flight 93 made calls, learned the other hijacked planes had been used as weapons and decided theirs would not reach its target. GTE operator Lisa Jefferson, speaking with Todd Beamer, heard his final words as the passengers prepared to fight back: “Are you ready? Okay. Let’s roll.”
Members of Ladder 6 were evacuating the North Tower when they found 59-year-old Josephine Harris struggling to descend. They stopped and stayed with her, even as she urged them to continue without her. She kept telling them, ‘Leave me. I’m OK,’ but the firefighters said, ‘No, we’re not gonna leave you.’” Their slower descent placed them inside Stairwell B when the tower collapsed around them. Harris and the firefighters survived inside a small section of the stairwell that remained standing. One of the firefighters named his first child after Harris.
The Man In The Red Bandana - 24 year old equities trader Welles Crowther carried an injured woman down 17 floors, returned to the impact zone and repeatedly led groups toward the stairs. Survivors knew him only by the red bandana covering his face. His mother identified him months later after survivors described their rescuer on television.
2,977 people, representing 90 countries, were murdered. Excluding the 19 hijackers because f*ck those guys.
Forecast your bank balance, not your P&L
Profit and cash are not the same thing, and Q4 is where brands find that out. DTC payouts land days late. Amazon holds reserves. Wholesale pays on terms. Inventory deposits go out long before a single unit ships.
The 13-Week Cash Flow Template is a free Excel download built on the direct method, so it forecasts the bank balance week by week instead of the accrual P&L. The timing engine handles DTC and Amazon payout delays, wholesale terms, inventory, and capex, and converts your monthly budget into a weekly view. The liquidity summary shows your lowest cash point, when it hits, how many weeks you sit below your minimum, and implied runway on average weekly burn.
It runs October 9 through January 1, so Black Friday, Cyber Monday, and year-end are already in the window.
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NEWS
Charts, Charts, Chart 📈
Bitcoin Dominance Chart
Bitcoin Dominance Weekly Chart - Click to enlarge.
52 weeks in a year? Yup. How many weeks has the Bitcoin Dominance Chart (shows the percentage of the total crypto market Bitcoin represents) been in this bear flag? Five. Eight. 58. 58 weeks. There’s simply no precedent for this, it’s never happened before. And man, have there been some fake outs along the way. 🤦
The thing to watch here for a clear breakout lower, this time, is the Chikou Span. If it closes below the candlestick bodies, that would confirm an Ideal Bearish Ichimoku Breakout. I mean, there’s been several technical confirmed Ideal Bearish Ichimoku Breakouts since June - but nothing has followed through.
A weekly close at 58.35% would confirm the next Ideal Bearish Ichimoku Breakout. 👀
Sei
SEIUSD Daily Chart - Click to enlarge.
$SEI ( ▲ 0.22% )’s daily chart looks like a lot of other altcoins, such as $XLM ( ▲ 2.03% ), $NIGHT ( ▲ 1.39% ), $IMX ( ▲ 1.55% ), and some others. What’s the common thing on their charts? They’re stuck inside the Cloud. And they’ve been floating in that hellscape for nearly a month. So if the price action seems upsetting, unfair, and mean. Well, you’re right.
And until there is a clear break up or down - this misery will just keep going. 😶
Bitcoin
There’s another group of charts that look similar to $BTC ( ▲ 0.6% )’s. It’s been three-weeks since there was that big late August rally. And since then, price has been in ‘meh’ territory.
But check out what’s inside the black rectangle I drew. You’ll notice that Senkou Span A (green) and Senkou Span B (red) are pointing in the same direction. This is a big deal because those levels are sometimes big heads up that indicate when a big move could occur.
So, according to the the Ichimoku system, the time period that we might see a renewed push higher is anywhere between September 12 and September 16. Let’s see what happens. 👀
NEWS
Tether Gets An Attaboy From The DOJ 🫡
More than $52 million in crypto restrained in one day, and the DOJ publicly thanked Tether for helping. A federal attaboy. Put it on the fridge.
The action targeted Xinbi Guarantee, a Chinese-language marketplace operating through Telegram. Authorities allege it connected scam operators with money launderers, fake investment website vendors, and recruiters supplying trafficking victims to scam compounds.
An absolute sewer with a payment system.
Authorities seized 2 wallets tied to approximately $12 million in vendor payments and sought restraints on 47 additional wallets. The $52 million figure covers the coordinated action. Tether says its broader law enforcement work now spans 340-plus agencies, 67 countries, and more than $5 billion in frozen assets. Over $2.5 billion of that involved U.S. authorities.
Tether’s marketing department usually has to write its own compliments. This time, the DOJ supplied one: “proactive assistance in this investigation.” 👍
NEWS
The Pretty Unicorn Wants You To Keep More Of Your Moonies 🦄
$UNI ( ▲ 0.48% ) processed $43.4 billion in stablecoin swaps in Q2, more than the next 3 on-chain entities combined. They would would like liquidity providers to keep more of the money arbitrage bots collect fixing price gaps. 🤯
StablePair Hook changes the fees on stable-pair trades, starting with USDC/USDT and USDC/USDG pools on $ETH ( ▲ 2.79% ).
A fixed fee can leave easy profits for bots or make swaps too expensive. This adjusts what the pool charges.
Near parity: Fees adjust to keep the quoted bid/ask spread consistent.
Profitable arbitrage: Outside a narrow price band, corrective trades face a fee that starts high and drops each block until someone takes the deal. LPs collect that fee.
Trades pushing farther away: No hook fee. Those traders already give the pool favorable pricing relative to its reference rate.
Now, bots can still do bot stuffs. The Unicorn (Uniswa) just wants to charge them more for grabbing those profitable price gaps. Having faster interwebz and a fancier calculator shouldn’t mean you pocket most of the spread while the people funding the pool stand there holding your coat.
Big trades still move prices. We’ll see how many extra moonies LPs actually keep. 🕵
NEWS
Stellar Gets To Be Gloriously Boring ⭐
$MGI ( ▲ 0.05% ) launched a stablecoin-backed $V ( ▲ 0.88% ) card in Colombia, with $XLM ( ▲ 2.03% ) supplying the blockchain network. Wow, that’s a lot of tickers in one sentence. Anyways, customers can hold a stable-dollar balance, spend wherever Visa is accepted, and bla bla bla. But, shockingly, Apple Wallet and Google Wallet support are included.
Buying groceries. Paying bills. Getting cash. Absolutely filthy levels of utility.
Rain provides the card infrastructure. Crossmint handles wallet capabilities. Stellar supplies the network. All working inside the MoneyGram app.
MoneyGram serves over 60 million active customers globally. The card starts in Colombia, with more markets planned. Physical cards and ATM access are slated for late 2026. 💳
NEWS
Press F For BWOW 🐶
Bitwise is liquidating its $DOGE ( ▲ 1.7% ) ETF, $BWOW ( ▲ 0.54% ). We gather today to honor a good boy who made it to Wall Street and is now being escorted back to cash.
Much regulated. Very prospectus. Such deceased.
The last trading day is expected to be October 14. Remaining holders get cash October 22, based on October 21 net asset value. No action required. Diamond hands, meet the accounting department.
Bitwise calls this optimizing its product range to meet evolving investor needs. Corporate for “gg.” So pour one out for BWOW. He wanted the moon. He got an orderly liquidation.
F in the chat. o7. May his expense ratio rest in peace. 🐕🦺
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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋