Lutnick filing shows he has 100m secured loan from Bank of America. One at sofr + 1.65% and another at sofr + 2.25% While for the rest if us Prime rate has been 3.2 % over sofr past 5 years for over collaterized loan. Cantillon effect is real. To be fair BOA is still making a killing from his deposits and these loans.

I am not as bullish on SBR but could see some indirect involvement in bitcoin mining infrastructure and stable coin nodes. Hopefully the jpeg non sense isn’t in there. #bitcoin #sbr