Thursday, August 14, 2025

Tidal Commodities Trust I Quarterly Report Released - Here’s What You Should Know

Tidal Commodities Trust I – Hashdex Bitcoin ETF
Quarter Ended June 30, 2025

Key Financial Metrics

Total net assets: $14,625,094 as of June 30, 2025 (down from $14,839,385 as of December 31, 2024).
Net asset value (NAV) per share: $121.88 (up from $106.00 at year-end 2024).
Market value per share: $121.74 (up from $106.21 at year-end 2024).
Shares outstanding: 120,000 (down from 140,000 at year-end 2024).
Bitcoin holdings: 13,487 units, valued at $14,522,529 (99.3% of net assets).
Cash and cash equivalents: $74,496.
YTD Total Return: 14.98% for the six months ended June 30, 2025.
Annualized expense ratio: 0.41% (down from 1.14% in the comparable prior period).
Net income for six months ended June 30, 2025: $2,252,867 (down from $5,914,717 in prior period).
Issuance of shares: $2,144,314; Redemption of shares: $(4,611,472) for the six months ended June 30, 2025.
Realized gain on crypto futures contracts (three months ended June 30, 2025): $(4,173), Net change in unrealized appreciation on investments: $2,915,393.

Risks

Market Risk: The ETF’s entire net asset value is tied to bitcoin’s price volatility. For the quarter, unrealized gains were a primary driver of performance ($2,915,393), but the Fund’s results could turn negative quickly with adverse market movements.
Credit Risk: The Fund uses StoneX and Phillip Capital as clearing brokers for futures trades, and while regulated by the CEA with customer protections in place, there remains exposure to counterparty nonperformance, particularly in periods of extreme volatility.
Regulatory Risk: Management specifically notes that market disruptions—including government actions that disrupt bitcoin markets or restrict the Fund’s trading activities—could adversely affect Fund performance.
Liquidity Risk: The Fund does not utilize borrowings or credit lines, depending on the liquidity of its bitcoin holdings and cash reserves. Rapid redemptions ($4.6M in the period) or sharp decreases in bitcoin liquidity or price could impact the Fund’s ability to meet obligations.
Concentration Risk: The Fund invests almost exclusively in bitcoin (99.3% of NAV); diversification is virtually nonexistent, amplifying exposure to bitcoin-specific events, technical vulnerabilities, and sector downturns.
Operational Risks: As the Fund holds digital assets via a third-party custodian (BitGo Trust), it is subject to potential custodial, technical, and cyber risks affecting access to or safety of assets.

Management Discussion

Strategic Shift: Following a merger and March 2024 strategy change, the Fund converted from a bitcoin futures strategy to direct spot bitcoin holdings, aiming to better track spot price performance. The new benchmark reflects this direct exposure.
Performance Drivers: The 14.98% YTD total return was driven primarily by appreciation in bitcoin prices. NAV per share increased from $106.00 to $121.88 during the period. However, net assets declined modestly due to greater share redemptions than issuances.
Fees and Expenses: The Fund’s management fee is 0.25% per annum, with an all-in annualized expense ratio of 0.41% for the period, reduced from 1.14% a year ago due to cost discipline and scale benefits post-merger. No fee waivers were enacted during the reporting period.
Shareholder Activity: During H1 2025, the Fund saw redemptions of 40,000 shares and issuances of 20,000 shares, reflecting net outflows in capital despite asset price increases. This resulted in a modest reduction in total outstanding shares.
Merger and Renaming: The merger with Hashdex Bitcoin Futures ETF and subsequent conversion to spot bitcoin holdings did not materially change the rights of shareholders but shifted the fund’s risk and return profile towards spot bitcoin exposure.
Expense Allocation: Fund expenses are tightly managed; Sponsor may elect (but did not during the period) to waive or pay certain expenses.
Internal Controls: Management reports no material changes or deficiencies in internal controls or disclosure procedures.

Investor Summary

The Hashdex Bitcoin ETF is highly exposed to the price movements and market dynamics of bitcoin, with a greater than 99% portfolio allocation to the cryptocurrency. Performance and NAV improvements in H1 2025 were driven by bitcoin appreciation, but capital activity saw net redemptions, reducing outstanding shares. Expenses remain relatively low for a crypto ETF, with further optimization after the strategic shift to spot holdings. However, risks relating to bitcoin market volatility, regulatory interventions, custodial security, and a lack of diversification remain material and should be weighed carefully by investors seeking direct bitcoin exposure in a regulated ETF structure. As of June 30, 2025, the Fund had stable operations with no off-balance sheet financing or legal issues, but remains sensitive to rapid changes in crypto markets.

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The Daily Market Flux - Your Complete Market Rundown (08/14/2025)

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Here is Your Complete Market Rundown (08/14/2025):

Company News

Alphabet Inc. (GOOG)

Performance Overview

1D Change: 0.36%

5D Change: 3.26%

News Volume: 169

Unusual Volume Factor: 1x

Google Expands AI Reach with Oracle Deal and Bitcoin Miner Stake as Crypto Surges

In a flurry of tech and financial news, Google has made significant moves in the AI and cryptocurrency sectors, while Bitcoin reached new heights. The tech giant partnered with Oracle to integrate Google's Gemini AI models into Oracle's cloud services and business applications, enhancing Oracle's offerings and allowing customers to access advanced AI capabilities.

Full coverage of $GOOG on MarketFlux.io

Intel Corporation (INTC)

Performance Overview

1D Change: 7.43%

5D Change: 20.69%

News Volume: 116

Unusual Volume Factor: 2x

Trump Administration Considers Taking Stake in Intel, Sparking Market Surge and Controversy

In a surprising turn of events, the Trump administration is reportedly in discussions to take a stake in Intel, the beleaguered chipmaker. This news has sent shockwaves through the tech industry and financial markets, causing Intel's stock to surge by 7% in after-hours trading.

Full coverage of $INTC on MarketFlux.io

Amazon.com, Inc. (AMZN)

Performance Overview

1D Change: 2.86%

5D Change: 3.52%

News Volume: 116

Unusual Volume Factor: 1x

Amazon Shakes Up Grocery Industry with Same-Day Perishables Delivery, Attracting Major Investors

In a significant move that's shaking up the grocery industry, Amazon has expanded its same-day delivery service to include perishable food items. Prime members in 1,000 cities can now order fresh produce, dairy, meats, and frozen dinners for same-day delivery, with plans to reach 2,300 cities by the end of 2025. This expansion is seen as a potential game-changer in the $90-billion online grocery market, putting pressure on competitors like Walmart and Instacart.

Full coverage of $AMZN on MarketFlux.io

Deere & Company (DE)

Performance Overview

1D Change: -6.78%

5D Change: -5.56%

Deere & Co. Beats Q3 Estimates but Lowers Outlook Amid Tariff Impacts and Market Challenges

Deere & Company, the renowned agricultural machinery manufacturer, released its third-quarter earnings report for 2025, revealing a mixed financial performance. The company reported a net income of $1.29 billion, slightly surpassing analyst estimates of $1.28 billion. However, earnings per share (EPS) declined to $4.75 from $6.29 in the previous year, representing a 24% year-over-year decrease.

Full coverage of $DE on MarketFlux.io

Tapestry, Inc. (TPR)

Performance Overview

1D Change: -15.79%

5D Change: -11.85%

Tapestry Beats Q4 Expectations, but Shares Plunge on Tariff Concerns

Tapestry, Inc., the parent company of Coach, Kate Spade, and Stuart Weitzman, reported its fiscal 2025 fourth quarter and full year results today. The company exceeded expectations with adjusted earnings per share of $1.04, up 13% year-over-year, and revenue of $1.72 billion, an 8% increase. Gross margin improved by 140 basis points to 76.3%.

Full coverage of $TPR on MarketFlux.io

Macro Events

UK Economy Outperforms Expectations with 0.3% Growth in Q2, Despite Sharp Drop in Business Investment

The United Kingdom's economy has shown unexpected strength in the second quarter of 2025, defying forecasts and painting a more optimistic picture of the country's economic health. According to the latest data released today, the UK's GDP grew by 0.3% in Q2, surpassing the expected 0.1% growth and marking a significant improvement from the previous quarter's 0.7% expansion.

Hot Inflation Data Sends U.S. Stocks Lower, Dampening Rate-Cut Hopes

The U.S. stock market opened lower on Thursday following a hotter-than-expected Producer Price Index (PPI) inflation reading. The PPI, which measures wholesale inflation, rose 0.9% in July, significantly above forecasts. This unexpected surge in inflation dampened hopes for potential Federal Reserve rate cuts and sent stock futures tumbling before the market open.

Producer Prices Surge to Three-Year High

In a startling development, U.S. producer prices surged in July, marking the highest increase in three years. The Producer Price Index (PPI) rose by 0.9% month-on-month, significantly outpacing the expected 0.2% increase. On an annual basis, producer prices climbed 3.3%, the most since February, exceeding forecasts of 2.5%.

India's Trade Deficit Surges to $27.35 Billion, Exceeding Expectations

India's trade deficit widens to $27.35 billion in July, surpassing previous forecasts and the June figure of $18.78 billion.

Crypto Events

U.S. Treasury Halts Bitcoin Sales, Reveals $20B Holdings Amid Market Volatility

In a significant development for the cryptocurrency market, U.S. Treasury Secretary Scott Bessent made several crucial announcements regarding the government's Bitcoin holdings and future plans. Bessent revealed that the U.S. Treasury's Bitcoin reserves are currently valued between $15 billion and $20 billion, a substantial amount that has caught the attention of investors and market analysts alike.

Crypto Market Plummets as Billions Vanish in Massive Liquidation Wave

Crypto market experiences massive liquidations. $460M wiped out in an hour, with $439M in longs and $20M in shorts crushed.

Citigroup Expands Crypto Services, Eyes Stablecoin and ETF Custody

Citigroup is exploring custody and payment services for stablecoins and crypto ETFs as part of its expansion into the cryptocurrency sector.

U.S. Establishes Strategic Bitcoin Reserve, Expansion Plans Unclear

U.S. Treasury Secretary Scott Bessent has announced the establishment of a Strategic Bitcoin Reserve using forfeited Bitcoin. The Treasury aims to expand this reserve, potentially making the U.S. a "Bitcoin superpower."

Block Unveils Revolutionary Bitcoin Mining Tech, Dorsey Touts "Greatest Miner Ever"

Block, led by Jack Dorsey, unveils groundbreaking Bitcoin mining technology. The company introduces Proto Rig, a modular mining system, and Proto Fleet, open-source fleet management software.

Coinbase Acquires Deribit, Bolstering Global Crypto Derivatives Platform

Coinbase has completed its acquisition of Deribit, the leading crypto options exchange by volume. This strategic move significantly expands Coinbase's derivatives offering and global trading platform.

Fixed Income And Interest Rates Events

Treasury Secretary Bessent Clarifies Stance on Fed Rate Cuts, Emphasizes No Direct Recommendations

US Treasury Secretary Bessent clarified his stance on Federal Reserve interest rates, emphasizing he did not call for the Fed to lower rates by 1.5 percentage points. He explained that models suggest a "neutral" rate would be about 1.5 points lower, but he's not advocating for a series of cuts.

S&P Upgrades India's Credit Rating, Boosting Economic Outlook and Investor Appeal

In a significant development, S&P Global Ratings has upgraded India's sovereign credit rating from 'BBB-' to 'BBB', marking the first such upgrade in 18 years. This move reflects India's strengthening economic fundamentals, sustained fiscal consolidation, and enhanced appeal to foreign investors.

Treasury Secretary on US Gold Revaluation

US Treasury Secretary Bessent expresses doubt about revaluing US gold holdings.

Norway Holds Interest Rate Steady, Signals Possible Cuts Later This Year

Norway's central bank has maintained its key interest rate at 4.25%. The bank signals potential rate cuts later in 2025, depending on inflation trends and unemployment levels.

Stock Markets Events

Hot Inflation Data Sends U.S. Stocks Lower, Dampening Rate-Cut Hopes

Technology Events

AI Industry Surges with Major Investments and Breakthroughs, but Challenges and Risks Persist

The AI industry is experiencing significant developments and attracting substantial investments. Palantir, a leading AI company, is being recommended as a "Buy" due to its potential as an AI goldmine. Meanwhile, GPT-5 is spurring an enterprise AI battle, highlighting the competitive landscape in the sector.

Meta's AI Chatbot Rules Spark Controversy Over User Safety and Content

An internal Meta policy document has revealed controversial rules for AI chatbots, allowing provocative behavior on sensitive topics. These rules have permitted bots to engage in "sensual" chats with minors and provide false medical information.

Oracle and Google Cloud Forge AI Partnership

Oracle and Google Cloud have struck a deal allowing Oracle to sell Gemini AI models.

AI Stocks Under Microscope: Valuations Questioned, Opportunities Emerge

AI stocks face scrutiny as investors question their momentum and valuation. Micron Technologies stands out as potentially undervalued, with execution and AI opportunities not fully priced in.

DeepSeek Launch Stalled by Huawei Chip Problems

DeepSeek's new AI model launch faces delays due to issues with Huawei chips.

AI Startup Cohere Secures Massive Funding, Bolsters Executive Team

AI startup Cohere raises $500 million in latest fundraise, valuing the company at $6.8 billion.

Equinix Forges Nuclear Partnerships to Fuel Data Center Expansion

Equinix, a leading data center company, has announced partnerships with multiple advanced nuclear energy providers. These collaborations aim to secure power for Equinix's expanding AI-ready data centers, showcasing a significant shift towards alternative energy sources in the tech industry.

Foxconn Profits Skyrocket

Foxconn reports impressive Q2 results, with profits soaring 27% above forecasts.

Geopolitics Events

Trump and Putin Set for High-Stakes Alaska Summit, Arms Control on Agenda

President Trump and Russian President Putin are set to meet in Alaska for a highly anticipated summit. The Kremlin has announced that the leaders will hold a one-on-one meeting, followed by delegation-level talks and a joint press conference.

Trump Administration Considers Government Stake in Intel, Sparks Controversy

The Trump administration is reportedly exploring the possibility of the US government taking a stake in Intel.

Trump Slams Brazil's Trade Practices, Dismisses Concerns Over Latin American Ties with China

President Trump criticizes Brazil's trade practices, calling it "one of the worst trade partners" for the U.S. He accuses Brazil of imposing "tremendous tariffs" on American goods and having "very bad laws."

Trump Touts Blocking Chinese EVs, Pledges to Protect U.S. Auto Industry

President Trump addresses the Chinese EV threat to the U.S. auto industry. He emphasizes that tariffs are effectively keeping Chinese electric vehicles out of the American market.

Rubio Outlines Key Issues for Ukraine Peace Talks

U.S. Secretary of State Rubio addresses the complexities of achieving peace in Ukraine. He emphasizes the necessity of discussions on multiple fronts:

EU Receives US Proposals for Trade Agreement, Aims for Swift Finalization

The European Union has received a text from the United States containing suggestions to finalize a joint trade statement. This development marks a significant step towards resolving trade and tariff issues between the two economic powerhouses.

Trump Addresses Nation on Social Security's 90th Anniversary

President Trump is set to deliver remarks on the 90th anniversary of Social Security. The event, marking a significant milestone for the program, is eagerly anticipated.

Kremlin Cautions Against Expectations for Russia-U.S. Summit Outcomes

The Kremlin has announced that there are no plans to sign documents following the Russia-U.S. summit, according to IFX reports.

Trump Boasts of U.S. Control Over Canada and Mexico in Border Matters

President Trump makes bold claims about U.S. influence over neighboring countries during a Q&A session.

Healthcare Events

Schrödinger Halts Leukemia Drug Program Amid Patient Deaths, While Other Biotechs Report Positive Developments

Schrödinger's stock plummeted today after the company announced the discontinuation of its key leukemia drug, SGR-2921. The decision came following safety concerns, including the deaths of two patients in a study for relapsed/refractory ALM or high-risk myelodysplastic syndromes. This news sent shockwaves through the biotech sector.

Biotech Sector Sees Mixed Results: FDA Boost for Sickle Cell Therapy Amid Clinical Trial Setbacks

In today's biotech news, several companies have made significant strides in drug development and clinical trials. Beam Therapeutics received a boost as the FDA granted RMAT designation to their sickle cell therapy BEAM-101, causing their stock to surge. This designation is expected to expedite the development and review of the treatment.

Biotech Stocks Surge as Cancer Market Booms and Weight Loss Drug Prices Soar

In a flurry of biotech and healthcare news, several companies are making waves in the market. Biomerica's stock soars after UAE approval for a home H. pylori test, while QuantumSi advances proteomics at a precision medicine summit. The vitiligo clinical trial pipeline accelerates with 18+ pharma companies developing drugs.

Eli Lilly Dramatically Hikes UK Prices Amid Political Pressure

Eli Lilly announces a significant price increase for its weight loss and diabetes drug Mounjaro in the UK.

FTC Launches Investigation into Hims & Hers Health's Business Practices

The Federal Trade Commission (FTC) is investigating Hims & Hers Health Inc. over complaints about their advertising and cancellation practices.

Biotech Firms Make Strides in Drug Development and Partnerships

Lexaria Bioscience's stock rises as it completes patient dosing in a GLP-1 study, with final results expected in Q4.

HHS Resurrects Childhood Vaccine Safety Task Force After 30-Year Hiatus

The Department of Health and Human Services has revived a long-dormant vaccine safety task force focused on childhood vaccines.

Earnings Events

Applied Materials Beats Q3 Estimates but Shares Tumble on Weak Q4 Outlook

Applied Materials (AMAT) released its Q3 2025 earnings report, surpassing expectations with adjusted EPS of $2.48 against an estimated $2.36, marking a 17% year-over-year increase. Revenue reached $7.30 billion, exceeding the forecast of $7.22 billion and showing an 8% growth from the previous year.

Tapestry Beats Q4 Expectations, Projects Strong 2026 Growth Despite Tariff Challenges

Tapestry, Inc. has released its fiscal 2025 fourth quarter and full year results, surpassing expectations. The company reported Q4 net sales of $1.72 billion, beating estimates of $1.68 billion. Adjusted earnings per share reached $1.04, exceeding the $1.00 estimate and marking a 13% year-over-year increase.

Deere & Co. Beats Q3 Estimates Despite Profit and Revenue Declines, Lowers Outlook

Deere & Company reported mixed Q3 2025 results, beating earnings estimates but showing declines in key metrics. The company's quarterly profit fell to $1.289 billion, with EPS at $4.75, down 24% year-over-year but above expectations.

Antofagasta's Core Earnings Soar 60% in First Half

Antofagasta reports a significant boost in core earnings for the first half of the year.

JD.com Beats Q2 Estimates While Deere Narrows Full-Year Guidance Despite Strong Q3

JD.com reported strong Q2 2025 earnings, surpassing estimates with revenue of ¥356.7B, up 22.4% YoY. Despite lower net income, JD Retail showed impressive growth.

Advance Auto Parts Beats Q2 Estimates, Cuts Outlook Amid Mixed Results

Advance Auto Parts reports Q2 2025 earnings, beating estimates with $0.69 EPS and $2.0B revenue. Despite returning to profitability, the company cuts its 2025 outlook amid weaker results.

Oil And Gas Events

Oil Prices Surge Ahead of Trump-Putin Talks, Russia Extends Gasoline Export Ban

In today's energy market, oil prices have rebounded significantly, with U.S. Crude Oil Futures settling at $63.96/BBL, up 2.09%. Brent crude also saw gains, settling at $66.84/bbl. This surge comes as traders anticipate the upcoming talks between President Trump and Russian President Putin.

Energy Market Faces Mixed Signals as Natural Gas Storage Surges and Oil Prices Struggle

In today's energy market news, Cheniere Energy is highlighted as the best LNG stock, potentially warranting a premium valuation. However, the natural gas sector faced challenges as U.S. futures fell by 0.9% following a large storage increase reported by the EIA. The net change in U.S. natural gas inventory was +56 Bcf for the week ended August 8, surpassing forecasts and indicating weaker demand.

Energy Markets Face Deflation as Global Oil Trade Shifts and US Crude Gains Prominence

In the energy markets, RBOB gasoline futures are approaching their lowest levels since February 2021, while natural gas prices hit their cheapest point since November 2024. This trend of energy deflation comes as the autumn shoulder season nears.

Centrica and ECP Acquire UK's Grain LNG Terminal in Billion-Pound Deal

National Grid sells Grain LNG terminal to Centrica and Energy Capital Partners for £1.5-1.66 billion. Centrica acquires a 50% stake in the UK-based Isle of Grain LNG facility.

BlackRock-Led Consortium Secures $11 Billion Deal with Saudi Aramco for Gas Assets

Aramco has signed an $11 billion deal for Jafurah Midstream with a consortium led by Global Infrastructure Partners (GIP), part of BlackRock. The agreement involves leasing Saudi Aramco natural gas facilities.

Russia Extends Gasoline Export Ban Through September

Russia plans to extend its ban on gasoline exports until the end of September, according to multiple reports citing Interfax news agency.

Real Estate Events

Mortgage Rates Hit 10-Month Low, Offering Relief to Homebuyers

The average rate on a 30-year fixed mortgage in the U.S. has dropped to 6.58%, according to Freddie Mac. This marks the lowest level since October 2024.

Real Estate Market Displays Diverse Trends Amid Developer Predictions and Luxury Sales

Real estate market shows mixed signals. ICF offers quality exposure, but peers outperform. Multifamily developers anticipate shortages and higher rents.

REITs Navigate Market Challenges as Luxury Property Sales Soar

Terreno Realty and Safehold undergo SWOT analyses, revealing their market strategies. Terreno's coastal focus and Safehold's ground lease approach navigate challenging markets.

Currencies Events

Dollar Weakens as Fed Rate-Cut Bets Surge, Bitcoin Hits Record High

The dollar struggles as Federal Reserve rate-cut expectations build, impacting various currencies and assets.

Corporate Actions Events

VinFast Founder Acquires Company's R&D Unit in Billion-Dollar Deal

VinFast, the Vietnamese automaker, is set to sell its R&D unit to its founder in a $1.5 billion deal. This move is described as a spin-off of R&D assets, with the founder injecting additional funds into the company.

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M3-Brigade Acquisition V Corp. Quarterly Report Released - Here’s What You Should Know

M3-Brigade Acquisition V Corp. – Q2 2025 Investor Summary

Key Financial Metrics

Total Assets: $301.9 million as of June 30, 2025, up from $295.8 million as of December 31, 2024.
Marketable Securities Held in Trust Account: $300.8 million (June 30, 2025); $294.6 million (December 31, 2024).
Cash: $800 thousand as of June 30, 2025.
Current Liabilities: $1.7 million, including accrued expenses of $939.8 thousand and a $500 thousand convertible promissory note.
Shareholders’ Deficit: $(14.0) million as of June 30, 2025.
Net Income: $2.18 million for Q2 2025 ($5.10 million for first six months 2025), primarily from $3.10 million ($6.19 million YTD) in interest income from trust investments.
General and Operating Costs: $874 thousand in Q2 2025 and $1.05 million for the first six months of 2025.
Earnings Per Share: $0.06 for Q2 2025; $0.14 for the six-month period.

Recent Developments

On July 7, 2025, entered into a definitive Business Combination Agreement with ReserveOne, Inc., aiming for transaction closing in Q4 2025.
Sponsor has agreed to certain earnout and lock-up arrangements as part of the business combination.
Equity PIPE and Convertible Note Subscription Agreements entered, contingent on transaction closing; net proceeds to be converted into Bitcoin.

Risks

Completion Risk on Business Combination: The business combination with ReserveOne is subject to various closing conditions, including regulatory approvals, shareholder votes, and satisfaction of pre-closing covenants. Failing to close exposes the company to continued operating losses and the risk of liquidation. (See Management’s Discussion and Business Combination Agreement sections)
Liquidity Risk: As of June 30, 2025, the company had a working capital deficit of $647 thousand. While the sponsor has provided a $500 thousand promissory note, further financing may be required if additional unanticipated expenses arise or the business combination is delayed. (Management Discussion, Liquidity & Capital Resources)
Market and Economic Uncertainty: Volatility in U.S. and global markets from geopolitical instability, rising interest rates, and inflation could impact capital access, asset values, and the ability to complete the business combination. (Risks and Uncertainties section)
Redemption Risk: Redemption of Class A shares by shareholders at or near closing could reduce available capital for the business combination or jeopardize deal completion. As of June 30, 2025, all 28.75 million Class A shares are subject to redemption at approximately $10.46 per share. (Class A Shares Section)
Reliance on Sponsor and Key Agreements: The company relies on funding from the sponsor (including the $500 thousand note), plus agreements such as the Sponsor Support and Equity PIPE, to execute its strategy. Any breach or failure could materially impact operations and transaction completion. (Related Party, PIPE Agreement, Sponsor Agreements)

Management Discussion and Analysis

No Revenue Operations: The company is a blank check entity and has not engaged in operating activities or generated operating revenue. Net income is due solely to interest earned on invested trust funds, offset by general and administrative costs.
Costs and Funding: Operating costs for Q2 2025 were $874 thousand; for the six-month period, $1.05 million. These costs were funded by cash, sponsor advances, and interest income from trust securities.
Capital Structure Adjustments: The sponsor has provided bridge funding via a convertible promissory note ($500 thousand). Additional mechanisms, such as Equity PIPE and Convertible Note Subscription Agreements, are structured to support the business combination.
Cash Burn and Working Capital: Operating cash burn for six months was $90.5 thousand. Working capital remains negative, which is typical for a SPAC at this stage, but additional capital may be needed depending on combination progress.
Off-Balance Sheet Arrangements: None as of June 30, 2025.
Post-Quarter Events: Subsequent to the reporting period, amendments and supplemental agreements were executed to facilitate the ReserveOne combination.

Conclusion

M3-Brigade Acquisition V Corp. remains in the pre-merger SPAC phase, with financials dominated by trust-held assets, interest income, and moderate operating expenses. The focus for investors is the execution risk and timeline of the proposed business combination with ReserveOne, Inc., as well as the liquidity profile and risks tied to redemption levels and capital market conditions. Management appears proactive in funding operating needs and setting up capital sources for the proposed transaction, but material uncertainties remain until the combination is completed.

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MyBookie App Review Sportsbook Casino Crypto & Bonuses

MyBookie Casino, Sportsbook Promo Codes

Below is a comprehensive review of MyBookie, focusing on its sportsbook, casino, bonuses, banking, customer service, and overall legitimacy for U.S. bettors in 2025.

The review draws on available data, user feedback, and industry trends, ensuring an objective evaluation without reproducing any copyrighted material.

MyBookie, launched in 2014, has become a prominent offshore gambling platform for U.S. bettors, offering a robust sportsbook, casino, and racebook. Known for its competitive odds, diverse betting markets, and attractive bonuses, MyBookie caters to both casual and experienced gamblers. Its user-friendly interface, cryptocurrency support, and focus on North American sports make it a strong contender in the offshore betting market.

This review evaluates MyBookie’s offerings across its sportsbook, casino, and bonus structures, while addressing its strengths, weaknesses, and legitimacy. We’ll also explore user experiences, banking options, customer service, and responsible gambling features to determine if MyBookie is a suitable choice for you in 2025.

About MyBookie

MyBookie was established in 2014 and operates under a license from the Curacao Gaming Authority, a common regulator for offshore betting sites. Based in Costa Rica, it serves U.S. players in most states, except for a few restricted markets like New York, New Jersey, and Pennsylvania.

MyBookie’s longevity—over a decade in a competitive industry—reflects its reliability, though its offshore status raises questions about regulation and player protections, which we’ll address.

MyBookie’s appeal lies in its all-in-one platform, combining sports betting, casino games, and horse racing. With a modern website, mobile compatibility, and a focus on cryptocurrency transactions, it prioritizes convenience. This review is based on extensive research, including user feedback, expert analyses, and MyBookie’s official offerings.

MyBookie Sportsbook: Features and Betting Options

MyBookie’s sportsbook is its cornerstone, offering extensive coverage of North American sports (NFL, NBA, MLB, NHL, UFC) and international markets like soccer, tennis, golf, and esports. With over 25 sports and thousands of betting options, it appeals to both casual bettors and seasoned players. The platform’s clean design and intuitive navigation make it accessible, while its live betting suite adds excitement.

Betting Markets

Moneyline, Spread, and Totals: Available across all major sports with competitive odds. NFL spreads typically range from -110 to -115, aligning with industry standards.
Prop Bets: MyBookie offers a wide range of player and team props, such as NBA player points or NFL rushing yards. The Prop Builder tool allows custom parlay creation.
Parlays: Same-game and cross-sport parlays are popular, with boosted odds for pre-selected combinations.
Futures: Bets on season-long outcomes, like Super Bowl or World Series winners, are robust, with early lines offering value.
Live Betting: In-play markets cover major sports like football, basketball, and soccer, with real-time odds and basic visualizations. However, MyBookie lacks live streaming, a drawback compared to competitors like Bet365.

Sportsbook Bonuses

Standard Welcome Bonus MYB50: 50% match up to $1,000 on the first deposit (10x rollover).
Crypto Welcome Bonus: CRYPTO100 100% match up to $1,000 for cryptocurrency deposits (10x rollover).
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Odds and Lines

MyBookie’s odds are competitive, often matching or slightly undercutting industry leaders like Bovada. Lines for major sports are released promptly, though sharp bettors note occasional delays for niche markets. The platform’s focus on U.S. sports ensures high liquidity, minimizing unfavorable line movements. Casual bettors benefit from straightforward markets, while niche sports like table tennis or rugby offer decent value.

Strengths

Broad Market Coverage: Extensive options, from NFL to international soccer leagues.
User-Friendly Interface: Clean layout with prominent live odds.
Customizable Bets: Prop Builder enhances flexibility for parlays.
Crypto Bonuses: Generous 100% match for crypto deposits.

Weaknesses

No Live Streaming: Lacks video streams, relying on basic stats and visualizations.
Delayed Niche Lines: Slower releases for less popular sports can limit early value.

Sportsbook Conclusion

MyBookie’s sportsbook is ideal for casual bettors and those focused on North American sports. Its live betting and prop options are innovative, but the absence of streaming and occasional line delays may frustrate some users. The crypto bonus adds significant value, making it a strong choice for U.S. players in unregulated states.

MyBookie Casino: Games and Features

MyBookie’s casino, powered by providers like Betsoft, Nucleus Gaming, and Visionary iGaming, offers over 400 games, including slots, table games, video poker, and live dealer options. While smaller than some competitors’ libraries, it’s tailored for U.S. players with a focus on quality and mobile compatibility. The no-download platform ensures seamless play across devices.

Game Selection

Slots: Over 300 titles, including high-volatility games like Take Olympus and progressive jackpots like Reels of Wealth (payouts up to $500,000). Slots contribute 100% to bonus wagering.
Table Games: Around 30 titles, including blackjack (Classic and Single Deck), roulette (American and European), baccarat, and craps. Unique games like Pai Gow Poker add variety.
Video Poker: Options like Jacks or Better and Deuces Wild offer high RTPs (up to 99%).
Live Dealer: Live blackjack, roulette, baccarat, and Super 6 tables with stakes from $5 to $5,000. Live games don’t contribute to bonus rollovers.
Specialty Games: Keno, bingo, and scratch cards provide low-stakes fun.

Casino Bonuses

Standard Welcome Bonus: Promo Code MYB150 150% match up to $750 on the first deposit (30x rollover for slots, 60x for table games).
Crypto Welcome Bonus: Promo Code WELCOME300 300% match up to $2,000 for crypto deposits (same rollover terms).
Reload Bonus: 25% match up to $500 (same rollover terms).

Strengths

Generous Welcome Bonus: Up to $1,000 for crypto users is competitive.
Mobile Compatibility: Browser-based platform works seamlessly on iOS and Android.
Progressive Jackpots: Slots offer significant payout potential.
Live Dealer Quality: Professional dealers and HD streams enhance immersion.

Weaknesses

Limited Game Library: 400+ games are modest compared to larger casinos.
High Table Game Rollovers: 60x requirements deter table game players.

Casino ConclusionMyBookie’s casino is a solid choice for slot players and live dealer enthusiasts, with generous bonuses and a user-friendly platform. However, its game selection and high table game rollovers may limit appeal for strategic players. The crypto bonus and jackpots make it attractive for big-win seekers.

MyBookie Bonuses and Promotions

MyBookie’s bonus structure is competitive, with enhanced rewards for cryptocurrency users:

Sportsbook:
- Standard: Promo Code MYB50 50% match up to $1,000 (10x rollover).
- Crypto: Promo Code CRYPTO100 100% match up to $1,000 (10x rollover).
- Reload: 25% match up to $500 (10x rollover).
Casino:
- Standard: Promo Code MYB150 150% match up to $750 (30x slots, 60x table games).
- Crypto: Promo Code WELCOME300 300% match up to $2,000 (same terms).
- Reload: 25% match up to $500 (same terms).
Racebook: 8% cashback on horse racing losses, no specific welcome bonus but integrated into rewards.

Ongoing Promotions

Refer-a-Friend: Earn 250% of a friend’s first deposit up to $250 (unlimited referrals).
Rewards Program: Players earn points (10 points per $1 on sports, 5 points per $1 on slots) redeemable for cash or bonuses. Tiers improve redemption rates.
Seasonal Promos: Offers tied to NFL, NBA, or UFC events, though less frequent than competitors.
Free Bets: Occasional free bet offers for loyal users, typically $10–$50.

MyBookie Daily Casino Bonuses

Weekday Bonus — 300% casino bonuses up to $1,500 on deposits of $100+
Weekend Bonus — 250% casino bonus up to $2,000 on deposits of $100+
Monday Rebate Special — 10% rebate up to $100 on any Monday losses
Wednesday Free Spins — 50 free spins on Wednesdays (min deposit $50)
Thursday Raffle — $2,000 prize raffle every Thursday for wagerers of $50+
Friday Pick'em Bonus — 25 free spins on deposits of $50 or a 150% casino reload bonus up to $1,000 with a $100 deposit every Friday

MyBookie Most Used Bonuses

MYB50 – Sportsbook 50% Bonus up to $1,000
CRYPTO100 – Crypto Sportsbook 100% bonus up to $1,000
MBSPINS – Make a casino deposit $50+ get 50 free spins on Wednesday.
WE LCOME300 – Casino 300% Match Bonus up to $2,000 +50 free spins
MYB35 – 35% reload bonus up to $1,000 for sports
MBCRYPTORELOAD – 55% Crypto reload bonus up to $1,000 for casino

Terms and Conditions

Minimum Deposit: $45 for most bonuses ($20 for crypto).
Rollover Requirements: Sports (10x), casino (30x slots, 60x table games).
Max Bets: Casino bets capped at 20% of deposit; sports bets at 50%.
Expiration: 30 days for most bonuses.

Strengths

Crypto Incentives: Higher bonuses and fee-free crypto transactions.
Low Sports Rollover: 10x is reasonable for sports betting.
Referral Program: Unlimited referrals maximize bonus potential.
Rewards Program: Tiered system rewards consistent play.

Weaknesses

High Casino Rollovers: 60x for table games is restrictive.
No No-Deposit Bonuses: Lacks free spins or no-risk offers.

Bonuses Conclusion

MyBookie’s bonuses are generous, especially for crypto users, with reasonable sports rollovers and a solid rewards program. However, high casino table game rollovers and the absence of no-deposit bonuses are drawbacks. The referral program adds long-term value.

Banking Options and Payouts

Deposits

Cryptocurrency: Bitcoin, Ethereum, Litecoin, Bitcoin Cash. No fees, instant processing, $20–$10,000 limits.
Credit/Debit Cards: Visa, Mastercard. 7.5% fees, $45–$2,500 limits.
Other: Bank wire, e-checks. Fees vary, with limits up to $5,000.

Withdrawals

Cryptocurrency: Fastest option, 24–48 hours processing, $50–$5,000 limits, one fee-free withdrawal per month ($50 fee otherwise).
Bank Wire: $150–$5,000 limits, 5–10 days delivery.
E-Checks: $50–$2,500 limits, 3–5 days processing.

Strengths

Crypto Efficiency: Fast, secure, and fee-free for one monthly withdrawal.
High Limits: Crypto withdrawals up to $5,000 suit high rollers.
Multiple Options: Broad range of deposit methods.

Weaknesses

Credit Card Fees: 7.5% is high compared to regulated sites.
Withdrawal Fees: Non-crypto options incur costs and delays.

Banking Conclusion

MyBookie’s banking excels with cryptocurrency, offering speed and high limits. Credit card fees and non-crypto withdrawal delays are notable drawbacks. Crypto is the optimal choice for efficiency.

MyBookie Safety, Legitimacy, and Customer Service

Legitimacy

MyBookie operates under a Curacao Gaming Authority license, providing oversight but not U.S. state regulation. Its SSL encryption and third-party-verified random number generators ensure fairness. User feedback is generally positive, though some report payout delays for non-crypto methods. Dispute resolution is effective, with few unresolved complaints.

Safety

Encryption: 256-bit SSL secures transactions and data.
Responsible Gambling: Tools include deposit limits, self-exclusion, and links to Gamblers Anonymous. Resources are limited compared to regulated sites.
Account Security: Two-factor authentication enhances protection.

Customer Service

Channels: 24/7 support via live chat, email, and phone. Live chat is a standout feature.
Response Time: Live chat resolves issues in minutes; email takes 12–24 hours.
User Feedback: Live chat and comprehensive FAQs are well-regarded.

Strengths

Live Chat: Fast and effective support.
Security: Industry-standard encryption and 2FA.
Reliability: Decade-long operation builds trust.

Weaknesses

Payout Delays: Non-crypto withdrawals are slower.
Limited Responsible Gambling Tools: Less robust than regulated platforms.

Customer Service Conclusion

MyBookie is safe and legitimate, with strong security and reliable customer service, particularly via live chat. Payout delays for non-crypto users and limited responsible gambling tools are areas for improvement.

User Experience and Mobile Compatibility

MyBookie’s website features a sleek black-and-white design with intuitive navigation. The top menu allows quick access to sports, casino, and racebook sections. Live betting markets are prominently displayed, and page load times are fast. The dashboard tracks bets, bonuses, and account activity seamlessly.

Mobile Compatibility

MyBookie’s browser-based platform is fully optimized for iOS and Android, requiring no app download. Navigation mirrors the desktop experience, with responsive design ensuring smooth betting and gaming. The lack of a dedicated app is a minor drawback.

Strengths

Intuitive Design: Accessible for all skill levels.
Fast Performance: Optimized for low-bandwidth connections.
Mobile Optimization: Seamless across devices.

Weaknesses

No Dedicated App: Browser-based access may inconvenience some users.
Basic Aesthetics: Interface lacks the polish of some competitors.

Experience Conclusion

MyBookie’s user experience is excellent, with a functional website and strong mobile compatibility. A dedicated app would enhance convenience, but the platform’s simplicity ensures accessibility.

Responsible Gambling and Community Engagement

MyBookie offers responsible gambling tools, including:

Deposit Limits: Daily, weekly, or monthly caps.
Self-Exclusion: Temporary or permanent account suspension.
Resources: Links to responsible gambling organizations.

The platform’s blog provides betting tips and sports analysis, but its social media presence is limited, with occasional promotional posts.

MyBookie Market Position in 2025

MyBookie remains a top offshore choice for U.S. bettors in unregulated states, competing with Bovada and BetOnline. Its crypto focus, generous bonuses, and live betting keep it relevant, though it faces challenges from expanding U.S. regulated markets like FanDuel and DraftKings.

Innovations

Prop Builder: Enhanced customization for sports props.
Crypto Expansion: Support for multiple cryptocurrencies.
Live Chat: Improved customer support accessibility.

Challenges

Restricted States: Limited availability in regulated markets.
Promotional Gaps: Fewer reload bonuses than competitors.

MyBookie 2025 Conclusion

MyBookie is a premier offshore gambling platform for U.S. players, excelling in its sportsbook variety, generous crypto bonuses, and user-friendly interface. Its live betting and casino offerings are solid, though limited game counts and high table game rollovers are drawbacks.

Strengths

Versatility: Comprehensive sportsbook and casino.
Crypto Support: Fast, secure, and bonus-enhanced transactions.
Accessibility: Intuitive design and mobile optimization.
Bonuses: Up to $1,000 crypto bonuses for sports and casino.

Challenges

Payout Delays: Non-crypto withdrawals are slower.
Limited Regulation: Offshore status reduces legal protections.
No Live Streaming: Lacks video streams for sports.

For casual bettors, slot players, and crypto users in unregulated states, MyBookie is highly recommended. Sharp bettors or those in regulated markets may prefer alternatives like Bookmaker & BetUS. Both of whom accept higher action.

See all current MyBookie Promotions HERE

Responsible Gambling: Call 1-800-GAMBLER for support. Always gamble responsibly.

How to Redeem a MyBookie Promo Code

How to Redeem MyBookie Promo Codes

1. Create a MyBookie Account
Open the MyBookie website and click the orange ‘join now’ button.

Enter your email address, date of birth, and phone number before selecting a password and a four digit pin for verification purposes.

Click the orange ‘next’ button to be taken to the bonus code portion of the sign up page. Here you’ll be asked to enter the code MYB50 for your first deposit bonus.

Agree to all the terms and conditions and click the green ‘create my account’ button.

2. Confirm Your Phone Number
You’ll be logged in automatically and be greeted by a pop up window asking you to verify your phone number.

3. Make Your Deposit
Once you’ve verified your phone number, you’ll be transported directly to the cashier, where you’ll see that the first deposit match bonuses are available. Pick the Promo You Want

You can also click through the dropdown menu under ‘review selected bonus’ to use a different one, like the 100% first deposit sports betting crypto bonus.

That is it, you are ready to start wagering.

MyBookie Promo Code Terms & Conditions

Promotions and bonuses are restricted to one per deposit, person, account, household, email, telephone number, singular payment account, and shared computer, such as a school, public library, or workplace computer. MyBookie does not make exceptions to this rule.
All promotions exist for recreational players only. Management reserves the right to refute or retract any bonus or promotions to whoever falls outside of this designation.
Players opening numerous accounts with the purpose of receiving multiple bonuses are in violation of these bonus policies. If a player engages in this activity, all accounts will be subject to immediate closure.
If a member controls multiple accounts, all promotional bonuses, credits achieved, and winnings produced from the accounts will be void.
Players wagering on steam plays, participating in a gambling organization, or misusing our bonus and promotions program, will have all promotions canceled and all winnings from these promotions forfeited.
Repeated deposits on top of an active balance are not eligible for the bonus program. Management reserves the right to refute or retract any bonus or promotions to players who abuse the bonus system in such a manner. Those players will forfeit all winnings from promotions.
Players cannot retroactively forfeit a bonus after receiving one. Players must follow all terms and conditions regarding bonuses before MyBookie will issue any payouts.
For rollover determinations, the lesser amount between the ‘risk’ and the ‘win’ on each eligible wager will apply toward the requirement.
Free play associated with deposit bonuses expires after 30 days.
The ‘risk’ amount of a free play does not count toward any of the rollover.
Rollover means that the player must wager the quantified amount at least that many times before requesting a payout. For example, a player deposits $100 and receives a 10% ($10) re-up bonus with a 5x rollover prerequisite. That player needs to put $550 in action before requesting a payout. ($110, deposit + bonus, x5.)
Once a player receives a bonus, he cannot request a payout until meeting the rollover obligation.
Rollover calculations begin from the moment a player places their first post-deposit wager, unless otherwise specified in the bonus terms and conditions.
Rollover calculations do not include any pending wagers. Only settled wagers with a status of win or loss count toward the rollover requirement.
Wagers resulting in a termination due to a postponed event, push or no action, do not count toward the rollover requirement.
Should a free-play wager result in an annulment or No Action, the player must contact our wagering department via phone or email to get the amount refunded to their free-play balance.
If a player with an ongoing balance from a previous deposit funds his or her account again, and one or both of the deposits are associated with a bonus, he or she must finish all rollover requirements and holding periods before requesting a payout.
Players given promotions, including No Deposit promotions and contest winnings from affiliates or sponsor sites, must comply with all terms and regulations of such promotions before requesting a payout.
Promotions cannot be used in conjunction with other bonuses or promotions.
In order to qualify for social media promotions and free play giveaways, players must be eligible to receive promotional bonuses on site. MyBookie reserves the right to cancel or modify all social media promotional offerings and policies without warning or prior notice.
Restrictions apply on circled and limited games.
MyBookie considers wagering on both sides of the game using any form of promotional money (free play or cash bonus) to be duplicitous conduct. This includes making bets of this nature through any of our affiliate sites. Any money won from playing both sides of the same game will be deducted, along with any other promotional money endorsed to the player. It may also result in annulment of the player’s wagering account, and the player could accrue additional penalties based on the offense.
Wagering on both sides of the same game for the sole determination of finishing a rollover obligation is absolutely forbidden. Such wagers will not count toward the rollover requirements. Any winnings resulting from such activity will be overturned.
The maximum amount that can be withdrawn from winnings generated by non-deposit bonuses is $100. Once a withdrawal is requested, remaining funds will be reduced to zero. You can only withdraw once you have completed a deposit of $50 or more.
MyBookie reserves the right to cancel or modify all promotional offerings and policies without warning or prior notice.
MyBookie reserves the right to remove the availability of all offers to a player at any time.
These bonus and promotion rules will supplant any verbal or written offering by any MyBookie employee.
When participating in Free to Enter Casino Tournaments, you’re required to have at least one successful deposit on-site in order to be entitled to any winnings. If you haven’t made a successful deposit prior to the start of the tournament in question, all winnings will be void. Tournament winnings and account information are subject to verification and review at the time of a payout request.