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Benchmark refutes "circular financing" allegations: Strategy STRC bitcoin model is not a Ponzi structure

market分歧 has widened regarding Strategy's financing model of continuously accumulating Bitcoin through its preferred stock STRC. Benchmark analyst Mark Palmer stated in his latest report that the interpretation of the STRC model as a "circular financing or Ponzi structure" is a "serious misreading" and emphasized that the mechanism is an "intentionally designed and sustainable capital framework," with the core logic being to convert market demand for yield into long-term Bitcoin exposure.According to an SEC 8-K filing, Strategy raised approximately $3.5 billion in the first three weeks of April, with over 85% coming from STRC issuance. Subsequently, it made three consecutive purchases within the following three weeks, acquiring a total of 51,364 Bitcoins worth approximately $3.9 billion. Strategy's total Bitcoin holdings have now increased to 818,334 BTC, with a market value of around $62.5 billion, and it has recently returned to an unrealized profit of about $700 million.Benchmark believes that this structure does not rely on continuous issuance to sustain itself and could even sell a portion of its Bitcoin to pay preferred stock dividends if necessary. However, significant market skepticism remains, with some arguing that selling financed assets to pay dividends could be perceived as a risk signal, potentially triggering broader market pressure. (The Block)

Benchmark refutes "circular financing" allegations: Strategy STRC bitcoin model is not a Ponzi structure

market分歧 has widened regarding Strategy's financing model of continuously accumulating Bitcoin through its preferred stock STRC. Benchmark analyst Mark Palmer stated in his latest report that the interpretation of the STRC model as a "circular financing or Ponzi structure" is a "serious misreading" and emphasized that the mechanism is an "intentionally designed and sustainable capital framework," with the core logic being to convert market demand for yield into long-term Bitcoin exposure.According to an SEC 8-K filing, Strategy raised approximately $3.5 billion in the first three weeks of April, with over 85% coming from STRC issuance. Subsequently, it made three consecutive purchases within the following three weeks, acquiring a total of 51,364 Bitcoins worth approximately $3.9 billion. Strategy's total Bitcoin holdings have now increased to 818,334 BTC, with a market value of around $62.5 billion, and it has recently returned to an unrealized profit of about $700 million.Benchmark believes that this structure does not rely on continuous issuance to sustain itself and could even sell a portion of its Bitcoin to pay preferred stock dividends if necessary. However, significant market skepticism remains, with some arguing that selling financed assets to pay dividends could be perceived as a risk signal, potentially triggering broader market pressure. (The Block)

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Benchmark refutes "circular financing" allegations: Strategy STRC bitcoin model is not a Ponzi structure

market分歧 has widened regarding Strategy's financing model of continuously accumulating Bitcoin through its preferred stock STRC. Benchmark analyst Mark Palmer stated in his latest report that the interpretation of the STRC model as a "circular financing or Ponzi structure" is a "serious misreading" and emphasized that the mechanism is an "intentionally designed and sustainable capital framework," with the core logic being to convert market demand for yield into long-term Bitcoin exposure.According to an SEC 8-K filing, Strategy raised approximately $3.5 billion in the first three weeks of April, with over 85% coming from STRC issuance. Subsequently, it made three consecutive purchases within the following three weeks, acquiring a total of 51,364 Bitcoins worth approximately $3.9 billion. Strategy's total Bitcoin holdings have now increased to 818,334 BTC, with a market value of around $62.5 billion, and it has recently returned to an unrealized profit of about $700 million.Benchmark believes that this structure does not rely on continuous issuance to sustain itself and could even sell a portion of its Bitcoin to pay preferred stock dividends if necessary. However, significant market skepticism remains, with some arguing that selling financed assets to pay dividends could be perceived as a risk signal, potentially triggering broader market pressure. (The Block)

Manic Collaborates with Sonic SVM to Launch SMART Benchmark—the First Standardized Evaluation Benchmark for AI Trading Agents

AI prediction trading platform Manic has announced the launch of the SMART Benchmark in collaboration with Sonic SVM—the first standardized scoring system for AI trading agents based on trading decisions. It enables quantitative comparison of trading decision differences across various agents and tests the real-world impact of integrating different Skills on agent decision quality. The scoring system covers five dimensions: real-time data, multi-source intelligence, market analysis, trading decisions, and risk control. Currently, the SMART Benchmark has integrated multiple agent and Skill ecosystem partners, including OKX Wallet, Bitget Wallet, Byreal, Donut, Surf, Moss, GoPlus, Blockbeats, and PA News.