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hello everyone, if you want to understand how wealth actually works in modern Turkey, forget the economics textbooks.
in 2022, Üsame Erdoğan, the president's 31-year-old nephew, put roughly $95,000 of personal capital into a new holding company called 1000 Yatırımlar.
three years later, corporate filings showed an annual net profit of 5 billion liras.
read the actual disclosures filed with Borsa İstanbul and the picture gets stranger. during that entire period of growth, the company generated zero revenue from ordinary sales. no products. no commercial services. an operating loss. the billions on paper came entirely from valuation gains tied to the same network of speculative investment funds that just triggered an $18 billion liquidity collapse and wiped out the savings of 455,758 ordinary citizens.
over the past two weeks, prosecutors detained fund managers, raided brokerage firms, and slapped travel bans on 48 business figures.
Üsame Erdoğan, who holds controlling voting rights in the holding at the center of this network, is not on a single police docket.
in the same country, a man gets arrested for complaining about bread prices in a street interview. an elected mayor sits in silivri facing 2,300 years of charges.
$95,000 in. $388 million in assets out. zero sales. half a million people wiped out. zero phone calls from a prosecutor.
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We’re proud to join @SoFi in bringing banking and crypto markets closer together.
Through the partnership:
→ Payward joins the SoFi Exchange Network
→ SoFiUSD is coming to @KrakenFX
→ SoFi will route member crypto orders through @KrakenPrimeHQ
One infrastructure layer, fewer walls between money and markets.
Read more: payward.com/press-release/so…
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SoFi, Payward agree to link banking network with Kraken infrastructure theblock.co/news/business/20…
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We’re proud to partner with @SoFi to connect banking and crypto markets
Kraken Prime is now the execution venue for SoFi, routing member orders into global liquidity for better pricing on the trades they already make.
And we're joining the SoFi Exchange Network, so firms on Kraken Prime can move dollars 24/7, not just banking hours.
Building a better financial system together - full details: blog.kraken.com/product/krak…
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SoFiUSD is coming to Kraken.
Soon you'll hold, buy & sell SoFiUSD right in your Kraken account, through @Payward's partnership with @SoFi.
SoFi members get better prices, with @KrakenPrimeHQ pulling liquidity from across the market.
Full details: blog.kraken.com/product/krak…
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Stop the Misinformation on $CRWV
I have lots of love for the content that @SmallCapSnipa puts out and the content he puts out is usually factual. However, the fact that even he's getting fed misinformation means that the there is some mis-information campaign going on here from "Nebius former global strategic partnership lead".
The claim that "CoreWeave is not at the same level to have this integration or another software layer on top of their own AI infrastructure" compared to $NBIS and $IREN is completely false.
$CRWV has better software than both $NBIS and $IREN. Yes I'll go on the record for saying better than $IREN too.
Coreweave is #1 market share on GLM-5.2 with 86.5% cache hit rate, something NBIS hasn't implemented yet for their public endpoints. What kind of fake industry expert thinks Coreweave doesn't have a Cloud when they are #1 in market share on a top 3 open source model?
What kind of mis-information states that "Nebius is also able to serve complex Frontier Lab models, not just as a AI infrastructure provider like it's doing Coreweave". For GLM-5.2 Coreweave is #1 in marketshare and Nebius has 0% market share in all 3 major open source models because it hasn't implemented KV caching yet.
The industry expert also claims Nebius actually has a dashboard, proprietary storage, integration with vast storage. Coreweave has proprietary storage aka CoreWeave AI Object Storage: coreweave.com/products/stora…. Vast, Weka, Pure Storage are also third party storage options. These industry experts cannot even both to look on Coreweave's front page.
Nebius former global strategic partnership lead (left May 2026) on the three Neoclouds $NBIS $IREN $CRWV
“Nebius and IREN are the engines behind the platform. When customers from NVIDIA, they start to use the platform itself, they are going to do the cloud management side integrated with the NVIDIA Enterprise platform.
CoreWeave is not at the same level
to have this integration or another software layer on top of their own AI infrastructure and that's why this is the difference.
For IREN, the key is the acquisition of Mirantis. They can definitely use to leverage to become a full stack platform. With Mirantis, what actually they have acquired, first of all, there is the k0rdent AI platform that they have acquired with, of course, the Kubernetes environment and also the entire developer engineering environment. When you're going to become a full stack, the customers, they need to be able to actually customize their own environment, customize the GPUs as well regarding the workloads that they want to achieve.”
Takeaway: Mirantis was indeed the cherry on top acquisition for IREN
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$CRWV CoreWeave continues to run as they announced an Indonesian expansion today of 3 facilities and 360mw of contracted power to come online in '28.
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A big thank you to @Tim_Sweeney_TAR for coming on to discuss $SOFI again. I love getting his perspective on @SoFi especially after earnings. Link below
SOFI Q2 Earnings Review with Tim Sweeney youtu.be/qvbsxi5Dpyc?is=ih7q… via @YouTube
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SOFI CEO ANTHONY NOTO SAYS THE COMPANY GENERATED OVER $5 BILLION IN CASH NET INTEREST INCOME. THAT'S NOT EVEN THE PART HE'S MOST EXCITED ABOUT
SoFi CEO Anthony Noto said on his recent interview with @Futurenvesting that $SOFI generated roughly $5.2 to $5.4 billion in cash net interest income, real cash paid by borrowers, not accounting income.
The more interesting number, per Noto: from Q1 2024 to Q2 2026, SoFi recorded $2 billion in "non-revenue recorded premium" loans put on the balance sheet at a premium that isn't counted as revenue upfront. That $2 billion in premium generated more than 2x its value in actual cash interest income.
"If you think about 2027 and 2028 and you want a good sustainable net interest income number, you have to put the assets on the balance sheet today. You can't wait to mid-2027 to do that."
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Great catching up, @Futurenvesting. Thanks for having me on to talk about our Q2 results, where we're headed, and why I've never been more confident in @SoFi
EXCLUSIVE: My full conversation with SoFi CEO Anthony Noto @anthonynoto is now live.
We went beyond the latest quarter and focused on the long-term evolution of $SOFI:
• The growing SoFi Plus ecosystem
• The future of lending and the balance sheet
• Whether Galileo can become a major growth driver
• SoFiUSD and the CLARITY Act
• The opportunity in small-business banking
• What investors may still be missing about SoFi’s valuation
Watch the full interview below 👇
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Watch my full conversation with SoFi CEO Anthony Noto here 👇
youtu.be/O6oKVTXtIVY
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EXCLUSIVE: My full conversation with SoFi CEO Anthony Noto @anthonynoto is now live.
We went beyond the latest quarter and focused on the long-term evolution of $SOFI:
• The growing SoFi Plus ecosystem
• The future of lending and the balance sheet
• Whether Galileo can become a major growth driver
• SoFiUSD and the CLARITY Act
• The opportunity in small-business banking
• What investors may still be missing about SoFi’s valuation
Watch the full interview below 👇
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Galileo is now $SOFI Tech Solutions!
Today, Galileo becomes SoFi Tech Solutions to better reflect the full scope of what we deliver—an end-to-end platform supporting leading fintechs, brands, and financial institutions.
What remains unchanged is our mission and the value we deliver. We continue to operate as a platform built for the broader fintech and financial services ecosystem, focused on supporting our clients’ success and helping their customers get their money right: tech.sofi.com/
