Hey there weekday warriors,

Annnnd it’s gone. Deadspin is dead… again. Staffers were told Monday AM that the blog has been sold to a European start-up… and that they should pack up their stuff and leave before security does it for them. And nobody (I mean NOBODY) was happier than my former boss.

Here’s what else we’re getting into today…

• Zuck had a case of the Mondays

• Bitcoin moons

• Reddit is locked and loaded

Enjoy the next 4 minutes and 13 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “closed mixed on Monday while bitcoin extended its record rally as investors counted down to crucial inflation data that will test bets on interest rate cuts.” (Yahoo! Finance)

+ The 10-year Treasury yield “rose slightly on Monday as investors looked ahead to key inflation data for insights into the state of the economy." (CNBC)

+ Oil prices “were little changed on Monday as concern eased that fighting in the Middle East would disrupt supply and Chinese data suggested weak demand, while an increase in U.S. refining limited any selling.” (Reuters)

+ Bitcoin hit a new all-time high (see below for a full breakdown).

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia -2.0% 2) TSMC -5.0% 3) Oracle +1.5% AH: +13.0%

The market moves you need to know about…

– New York Community Bank tumbled again Monday. It appears that investors are finally beginning to digest just how terrible the Steve Mnuchin bailout was for them (spoiler: investors got seriously diluted). The stock dipped 4.9%.

+ Hedge fund Standard General liked Bally’s Casino at $38 back in 2022. So it probably shouldn’t come as much of a surprise that they love it at $15. The hedgies made another play for the outstanding Bally’s shares that they don’t own. The $15 per share bid, which represents a 40% premium to Friday’s close, sent shares up 28.4%. Bally’s said it will assess the bid.

– Arm shares fell 3.6% yesterday ahead of today’s IPO lockup expiration (read: early investors can start unloading shares if they want).

Question: Which has you sweating more?

A) You’re about to start your taxes

B) Excel just froze, and you don't remember the last time you saved

C) The elevator is broken, and you have to walk up 12 flights of stairs to your office

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Zuck’s case of the Mondays

Zuck, trying to have a chill Monday: *gets double-teamed*

Oh, you thought your Monday was bad? Zuck was dealing with fire drills on two fronts… which resulted in Meta’s (-4.4%) worst selloff in 8 months.

First, off, Donny Politics went on CNBC to remind everyone that he’s still got it (read: the ability to move markets). When asked about a potential TikTok ban, #45 called the Chinese-owned social media juggernaut a “national security threat.” You might recall he tried to ban the app during his Presidency.

Trump also made it clear he thinks Facebook would be the biggest beneficiary of a TikTok ban. And that arguably the only thing he hates more than TikTok is Meta. He called it “the enemy of the people.”

It’s not exactly surprising that he holds a grudge, considering he was banned from Facebook for 2 years and the ‘book has a strained relationship with right-leaning public figures.

Or, maybe it had something to do with those haters at the Journal?

Remember when the WSJ went scorched earth on Meta with the Facebook Files? Welp, it’s back at it…

The Journal gave Facebook Marketplace the exposé treatment. It claims that the Craigslist ripoff (because imagine Zuck coming up with an original idea) is full of scams and other f*ckery. This should come as no surprise to anyone who has ever used it…

And nobody is safe. FB scammers have been having their way with buyers and sellers on Marketplace. Sellers are being duped with fake payment confirmations (“hey, look, here’s the Zelle confirmation”). And buyers are getting burned with fake listings, defective products, or payment scams. To be fair, it’s better than being ax murdered…

The issues have only gotten worse since Marketplace has moved more online with options to pay via Venmo, PayPal, and Meta Pay.

Get it together, Zuck.

+ 47% of parents still financially support adult children, study finds. Here’s how much they spend (Read)

+ Bitcoin to $350,000? Bulls say the current rally is just the beginning. (Read)

~ ICYMI... Mark Cuban looks for 2 qualities in employees: ‘If they fail on either one, you’re going to be in trouble’ (Read)

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+ Nobody, and I mean nobody, has a bigger sh*t-eating grin on their face than the people who bought Bitcoin at $69.8k back in 2021.

Bitcoin was finally able to break through resistance at $69k and hold above $70k. Why? Because of another week of epic inflows to Bitcoin ETFs. Duh.

Satoshi’s currency also got a boost from the lads across the pond. The UK’s Financial Conduct Authority said it will allow exchanges to list exchange-traded notes.

ETNs certainly aren’t as sexy as ETFs. And the UK market is much smaller than the US. But the move sends an important message to institutional investors that Bitcoin has arrived.

Not to be outdone, Ether broke the $4k barrier, with investors looking towards another major tech upgrade this week.

+ Despite concerns that the Wall Street Bets mouth breathers are going to ruin it for everyone, the Reddit IPO is moving forward.

The glorified chat room masquerading as a social media platform is hoping to sell shares at between $31 and $34. That means, between the shares the company will sell and those offloaded by management and other early employees, the IPO could raise ~$750M.

And good news for everyone who has dedicated their life to being a mod for some obscure Subreddit… Reddit is setting aside 1.76M shares for you to buy at the IPO price. Of course, since you’ve never made a dime from the company you helped build, you probably won’t be able to afford any…

+ Investors haven’t been this excited about Oracle (+14.4% after hours) since that time it beat out Walmart to be TikTok’s “US partner” back in 2020 (what a weird time in all of our lives…)

On paper, Oracle’s earnings report was pretty mediocre (at best). For the quarter, the tech giant eked out a beat on the bottom line and missed revenue projections. For f*ck’s sake, even Oracle’s outlook came in below estimates.

So, what had investors all hot and bothered? One word: Nvidia. Oracle mentioned during its earnings call that it would be making a joint announcement in the coming week.

+ It’s a sad state of affairs over at AMC (+1.4%). The once-great (meme) stock has become a lowly purveyor of popcorn. Shares rose on news that it would distribute its AMC-branded popcorn in Publix, Kroger, and on Amazon.

Here's what I'm keeping an eye on today...

+ Archer-Daniels, On Holding, Kohl's, Allbirds, and Workhorse report. And all eyes will be on whether Allbirds can climb back above $1 per share…

+ Arm Holdings IPO lockup period expires

+ But the only thing that really matters is the February CPI report

Yesterday I asked “Is doing taxes the worst part of being an adult?”

57.8% of you think it is. Here are some other things that suck according to you guys…

• "Working"

• "Having to pay taxes"

• "Emptying the dishwasher"

• “As a general every adult must do it, it probably is the worst. But, as a parent, brushing a tiny human’s teeth, and zipping their coats. No one warns parents of these hells.”

• "I’m gonna go with everything hurting more after the age of 27."

• "Moving."

• "Folding laundry."

Here’s today’s question…

Snickers clapped back at POTUS after he called the candy bar out for shrinkflation during the State of the Union. Got me thinking…

Oh, and two more things…

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Does this look like the face of a guy you should take financial advice from?

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This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional