DRS/self-custody, music production, Ubiquiti/UniFi, Tesla/EVs/solar, egalitarian future stuff
Joined April 2012
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Atlas Chaps retweeted
There are no “left over” shares.
All shares are held self custody (by Cede & Co or the DRS’d investor). Everything else is an entitlement (not a share).
When you exchange an entitlement for a share you no longer own the entitlement, you own a share, and Cede owns one less share.
Hypothetically if Cede no longer owned any shares because investors had DRS’d them all, the “overerage” displayed in brokerage accounts are entitlements. They are not shares. They are not “real” or “fake” shares, they’re all entitlements.
I believe a lot of the confusion arises out of brokers displaying the word “share” in your account. I believe they should not be allowed to label your security something that it is not (which is exactly what they do). They falsely label your entitlements with the word “shares”.
Atlas Chaps retweeted
Does @RobinhoodApp sell shares or entitlements? Let’s start there.
Atlas Chaps retweeted
🚨 $GME + $EBAY 13F — CITADEL ADVISORS
Citadel reported $22.5M principal of GME’s 0% 2030 convertible notes and retained 13.29M SH of GME call exposure, while its reported GME puts fell 31.35%, warrants fell 91.60%, and eBay calls more than doubled.
$EBAY COMMON
Q1 ’26 — 2,440,865 SH — $222.17M
Q2 ’26 — 1,021,738 SH — $114.18M
🔻 −1,419,127 SH (−58.14%)
$EBAY CALL
Q1 ’26 — 372,400 SH — $33.90M
Q2 ’26 — 792,700 SH — $88.58M
🔥 +420,300 SH (+112.86%)
$EBAY PUT
Q1 ’26 — 409,800 SH — $37.30M
Q2 ’26 — 310,100 SH — $34.65M
🔻 −99,700 SH (−24.33%)
$GME COMMON
Q1 ’26 — 68,959 SH — $1.59M
Q2' 26 — None
$GME CALL
Q1 ’26 — 14,191,300 SH — $326.97M
Q2 ’26 — 13,288,900 SH — $293.42M
🔻 −902,400 SH (−6.36%)
$GME PUT
Q1 ’26 — 5,378,700 SH — $123.93M
Q2 ’26 — 3,692,500 SH — $81.53M
🔻 −1,686,200 SH (−31.35%)
$GME WARRANT
Q1 ’26 — 195,424 SH — $754,356
Q2 ’26 — 16,416 SH — $45,801
🔻 −179,008 SH (−91.60%)
$GME CONVERTIBLE NOTE
Q2 ’26 — 22,500,000 PRN — $22.97M
Atlas Chaps retweeted
The SEC says they enforce rulemaking with the authority given to them by Congress.
I say: ⚠️ If they need more authority to fix this sh**, take the 10-minute walk to the Capitol and get it done!
The SEC says it "has the role to assess if FINRA followed its own rules"...RULES WHICH FINRA WROTE!!
I say: ⚠️ If the current laws can't fix it, get to work making REAL change by fixing the laws.
Start with 15 U.S. Code § 78q-1(b)(5)(C) “A registered clearing agency [may] SHALL summarily suspend and close the accounts of a participant who … (ii) is in default of any delivery of funds or securities to the clearing agency,…”.
How hard would it be to slip a 1-word change as an amendment into the next bill? Eliminate the market maker exemption on failures to deliver (FTDs) and force NSCC to eject banks and brokers who fail to deliver sold securities to household investors. The first time that happens, settlement fails will STOP.
Clinging to the rules of this dysfunctional financial system is the definition of a Regulatory Crisis!
Atlas Chaps retweeted
comma has logged 380M+ miles driven on openpilot, no subscriptions. Stretching from rural roads like mine to streets in London and Dubai, all hands-free. @comma_ai isn't an SF Bay Area science project anymore, they ship worldwide. Wouldn't drive without mine.
Atlas Chaps retweeted
the universe has a strange habit of hiding life changing moments inside completely ordinary afternoons.
Atlas Chaps retweeted
Your Bell is safe. Your job is here when you get back. See you in February. 🇺🇸🫡
Thank you @Gamestop
Thank you @larryvc
Thank you @ryancohen
Thank you @toast
And most importantly, a very special thank you to each and every one of you. We’ve made history and very special moments here at GameStop. I’ll be back in February.
I love you all and Happy 250th Birthday America. I’m proud to serve you 🫡
Atlas Chaps retweeted
Floored.
I am completely floored. This answers so many open questions and why certain things were taking place within the court filings.
I cannot imagine how fast Jake's heart must have been racing putting this together.
I think about how hard this has been to figure out, and then how hard it would have been to actually pull it off.
Hard is Hard
Affili-8 is Incredible.....!!!!!!!!!!!!!!
Part 8: the Affiliate; how Ryan Cohen acquired control over $BBBYQ through the HBC equity raise.
watch: youtu.be/j3e_BQwjgV4
Atlas Chaps retweeted
Securitize’s ‘spirit of fair play’ framing seems to argue that intellectual property rights do not apply to tokenization – the old open-source ethos conveniently dressed up in PR language. Seasoned market participants seeking to attract Tier 1 financial institutions deserve better than that.
Institutional capital does not flow into legal vacuums. These same institutions built their businesses on respect for IP – and a maturing tokenization infrastructure industry cannot simultaneously seek legitimacy and capital, including from retail investors, while treating IP protection as unsporting. Especially IP that goes to the heart of their core business.
Just as political and regulatory clarity has begun unshackling our industry and enabling real growth, serious attention to IP rights – by builders and responsible capital providers alike – will drive the maturity this market needs.
@tZERO's patents represent years of pioneering work in regulated digital securities. We will enforce them.
Atlas Chaps retweeted
Possessions are overrated.
If you need things to feel important, you are still negotiating with insecurity.
Real status is peace of mind, freedom, health, family, and control over your time.
Everything else is decoration.
Atlas Chaps retweeted
Beneficial “owners”.
If you hold securities with a broker (like @RobinhoodApp), the company (like @SpaceX) does not know who you are because you don’t own shares of the company itself.