Alternative Investing Report - March 3, 2025

*as of 3/2; Sources: S&P, BTC, FTSE, DJRE, CL50

President Trump named the five cryptocurrencies he intends to include in a U.S. strategic reserve - Bitcoin, Ethereum, Solana, Ripple, and - in the biggest surprise - Cardano. Immediately, the prices of all five rose sharply, with Cardano seeing the biggest gain, in excess of 60%. On the whole the crypto market jumped more than 10% on the day, which came at the end of a week where values had dropped significantly.

➨ TAKEAWAY: The crypto market was waiting for a catalyst to shake it out of its slump, and the strategic reserve announcement delivered. For example, Bitcoin had dipped below $80,000 for the first time in months but has now rebounded more than 15% to surpass $92,000. There are still big questions about what a strategic reserve could look like and the legal mechanisms necessary to establish one. There are also concerns about crypto, which was originally meant to be a decentralized alternative to central banking, becoming so intertwined with the government. While this was a short-term boost, the fact that a single announcement can swing the market to this extreme shows how risky the asset class remains.

Average rents in Austin, TX, have fallen by 22% from their peak, and the rental occupancy rate has reached its highest since 2015. The primary reason behind this decline is the massive increase in supply spurred by development started in response to Austin’s popularity as a pandemic-era destination. Nearly 50,000 rental units have been added to the city’s supply in the past two years, the largest percentage increase in any major U.S. city.

➨ TAKEAWAY: The price drop is basic economics - more supply created more bargaining power for renters, which in turn led to more concessions and lower prices. State and local governments also cut regulations and encouraged development, and these policies could catch on in other markets. The most straightforward way to tackle housing affordability to is build more supply, and this can hinder rent growth. Investors should be monitoring local markets to understand how this will affect them.

🎨 Strong auction results: Christie’s Post-War to Present auction netted $21.3 million in sales, led by Helen Frankenthaler's “Concerto",” which sold for $2.1 million, three times its high estimate of $700,000. The auction performed similarly to last year’s version, but with 10% fewer lots.

🤖 AI’s record quarter: Q4 saw the most VC investment ever to AI startups, with the sector accounting for more than half of all funding in the quarter.

🏡 Best cities to retire in luxury: Based on the median age of the population and the number of sales of homes of $1 million or more, the top cities in the U.S. for a luxurious retirement are Anna Maria, FL, and Pleasanton, CA.

🚀 Stripe employee tender: The payments startup announced a new tender offer offering employees liquidity at a valuation of $91.5 billion, a significant jump over the $70 billion valuation from a tender offer last year. This is another example of a prominent startup finding a way to provide liquidity without going public.

🏀 Wemby jersey dispute: A game-worn jersey from the French NBA superstar Victor Wembanyama that sold for $73,200 is at the heart of a legal dispute between Goldin auction house and the consignor, who claims that he did not want to sell the item originally given to his 5 year-old son in a swap.

💵 Renamed ETF: The highly-publicized private credit ETF that was launched last week by State Street and Apollo is being renamed to exclude mentions of Apollo after the SEC voiced concerns about the level of the mega-firm’s involvement.

Tuesday: The U.S. will begin imposing tariffs on imports from Mexico and Canada; Sotheby’s Modern & Contemporary Evening auction in London, featuring more than 20 lots expected to sell for over $1 million.

Wednesday: The Fed Beige Book - a summary of current U.S. economic conditions - is released; Christie’s controversial Augmented Intelligence AI art auction closes, Christie’s 20th and 21st Century London Evening sale.

Thursday: The Amelia Island classic car auctions begin and run through Sunday.

Friday: U.S. jobs report released.

Saturday: Goldin’s February Elite Sports auction.

Advertiser’s Disclosures

This is a paid advertisement for Mode Mobile Reg A offering. Please read the offering statement at https://invest.modemobile.com

¹ Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

² The rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.

³ A minimum investment of $1,950 is required to receive bonus shares. 100% bonus shares are offered on investments of $9,950+.

Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns.

DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.