Calls
2
Jessi Brooks
General Counsel, Ribbit Capital / Co-Host, DEX in the City
Win Rate
50.0%
return
-0.3%
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Ticker
Side
Mentions
First Call
Call Price
P&L
Thesis
Theme
Source
Long
Jan 30
$194.74
-19.3%
A third-party government contractor (CMDSS) hired to hold seized crypto for the US Marshals had funds stolen ($20M+) because an executive's son leaked keys during a livestream. The speakers note the government already uses Coinbase for major assets but uses contractors for "lower tier" tokens. This scandal is a massive embarrassment for the US government's custody protocols. It validates the "Flight to Quality" thesis. The government will be forced to consolidate assets away from small, obscure contractors and toward the only "Fort Knox" standard explicitly mentioned in the text: Coinbase. LONG. This event acts as a catalyst for Coinbase to secure exclusive, higher-value government custody contracts as the state seeks to eliminate third-party counterparty risk. Government decides to build custody "in-house" (mentioned as a desire by V), though speakers admit this is unlikely due to technical incompetence.
A third-party government contractor (CMDSS) hired to hold seized crypto for the US Marshals had funds stolen ($20M+) because an executive's son leaked keys during a livestream. The speakers note the government already uses Coinbase for major assets but uses contractors for "lower tier" tokens. This scandal is a massive embarrassment for the US government's custody protocols. It validates the "Flight to Quality" thesis. The government will be forced to consolidate assets away from small, obscure contractors and toward the only "Fort Knox" standard explicitly mentioned in the text: Coinbase. LONG. This event acts as a catalyst for Coinbase to secure exclusive, higher-value government custody contracts as the state seeks to eliminate third-party counterparty risk. Government decides to build custody "in-house" (mentioned as a desire by V), though speakers admit this is unlikely due to technical incompetence.
Crypto Infrastructure
Long
Mar 05
$67.38
+18.6%
Jesse discusses Block's (Square) recent restructuring, noting reports that they are cutting a significant portion of staff (transcript cites "about 40%") because an internal AI tool called "Goose" has "essentially replaced a lot of the coders." This is a concrete proof-of-concept for AI replacing high-cost labor (software engineers) in Fintech. If Block successfully maintains product velocity with significantly lower OPEX, their margins will expand drastically, serving as a catalyst for stock repricing. Long SQ as a play on AI-driven operational efficiency. The "Goose" tool may be overhyped, or the layoffs could signal deeper growth issues rather than just efficiency.
Jesse discusses Block's (Square) recent restructuring, noting reports that they are cutting a significant portion of staff (transcript cites "about 40%") because an internal AI tool called "Goose" has "essentially replaced a lot of the coders." This is a concrete proof-of-concept for AI replacing high-cost labor (software engineers) in Fintech. If Block successfully maintains product velocity with significantly lower OPEX, their margins will expand drastically, serving as a catalyst for stock repricing. Long SQ as a play on AI-driven operational efficiency. The "Goose" tool may be overhyped, or the layoffs could signal deeper growth issues rather than just efficiency.
Payments & Fintech
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Jessi Brooks has 2 trade ideas tracked on Buzzberg across 2 tickers since January 2026. Most covered: COIN, SQ.
