The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
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hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ARMADA ACQUISITION CORP II COM CL A G0R38G104 60,394,320 5,796,000 SH SOLE 5,796,000 0 0
ARMADA ACQUISITION CORP II *W EXP 05/21/203 G0R38G112 119,000 140,000 SH SOLE 140,000 0 0
BITGO HOLDINGS INC COM SHS CL A 091947101 295,260 57,000 SH Call SOLE 0 0 0
BITMINE IMMERSION TECHS INC COM NEW 09175A206 199,650 15,000 SH SOLE 15,000 0 0
BOOST RUN INC ORD SHS CL A 09940T100 620,960 16,000 SH Call SOLE 0 0 0
BRERA HOLDINGS PLC CL B 2026 G13311132 556,114 109,904 SH SOLE 109,904 0 0
CANTON STRATEGIC HOLDINGS IN COM 432705309 84,600 30,000 SH SOLE 30,000 0 0
CEA INDUSTRIES INC COM 86887P309 871,882 320,545 SH SOLE 320,545 0 0
CEA INDUSTRIES INC *W EXP 02/11/202 86887P119 0 445,545 SH SOLE 445,545 0 0
CIPHER DIGITAL INC COM 17253J106 1,151,500 47,000 SH Call SOLE 0 0 0
COINBASE GLOBAL INC COM CL A 19260Q107 243,991 1,669 SH SOLE 1,669 0 0
COINBASE GLOBAL INC COM CL A 19260Q107 233,904 1,600 SH Put SOLE 1,600 0 0
CORE SCIENTIFIC INC NEW COM 21874A106 1,586,580 62,000 SH Call SOLE 0 0 0
DEFI DEVELOPMENT CORP *W EXP 01/21/202 47100L111 0 534,400 SH SOLE 534,400 0 0
DESTINY TECH100 INC COM SHS 25063F107 772,800 30,000 SH Call SOLE 0 0 0
ECHOSTAR CORP CL A 278768106 1,421,000 14,000 SH Call SOLE 0 0 0
GALAXY DIGITAL INC. CL A 36317J209 2,214,540 81,000 SH Call SOLE 0 0 0
GLOBAL X FDS GLOBAL X URANIUM 37954Y871 1,092,500 25,000 SH Call SOLE 0 0 0
HYPERION DEFI INC COM NEW 30234E203 935,020 297,777 SH SOLE 297,777 0 0
HYPERLIQUID STRATEGIES INC COM 44916Y106 11,751,492 1,493,201 SH SOLE 1,493,201 0 0
HYPERLIQUID STRATEGIES INC COM 44916Y106 5,271,326 669,800 SH Call SOLE 0 0 0
IP STRATEGY HOLDINGS INC COM 42727R302 48,610 20,685 SH SOLE 20,685 0 0
ISHARES BITCOIN TRUST ETF SHS BEN INT 46438F101 2,080,625 62,500 SH Put SOLE 62,500 0 0
ISHARES INC MSCI STH KOR ETF 464286772 403,800 2,000 SH SOLE 2,000 0 0
ISHARES INC MSCI STH KOR ETF 464286772 4,038,000 20,000 SH Put SOLE 20,000 0 0
ISHARES TR 20 YR TR BD ETF 464287432 30,247,000 350,000 SH Put SOLE 350,000 0 0
KEEL INFRASTRUCTURE CORP COM SHS 486917107 574,000 100,000 SH Call SOLE 0 0 0
NAKAMOTO INC COM 49457M205 289,195 73,214 SH SOLE 73,214 0 0
NEW ERA ENERGY & DIGITAL INC COM 64428N109 510,400 80,000 SH Call SOLE 0 0 0
PROCAP FINL INC COM SHS 74277P105 1,925,000 1,250,000 SH SOLE 1,250,000 0 0
RIOT PLATFORMS INC COM 767292105 752,950 27,500 SH Call SOLE 0 0 0
ROBINHOOD MKTS INC COM CL A 770700102 6,768,900 67,500 SH Call SOLE 0 0 0
ROCKET COS INC COM CL A 77311W101 1,732,500 110,000 SH Call SOLE 0 0 0
SKYAI INC COM 82003F309 1,157,814 1,043,076 SH SOLE 1,043,076 0 0
SKYAI INC *W EXP 04/13/202 82003F119 0 923,076 SH SOLE 923,076 0 0
SOLANA CO COM CL A NEW 42328V876 1,087,198 658,908 SH SOLE 658,908 0 0
SPDR GOLD TR GOLD SHS 78463V107 5,894,080 16,000 SH Call SOLE 0 0 0
SPDR SERIES TRUST ST STR BLO 1 ETF 78468R663 1,374,600 15,000 SH SOLE 15,000 0 0
STATE STR SPDR S&P 500 ETF T TR UNIT 78462F103 746,770 1,000 SH SOLE 1,000 0 0
SUI GROUP HOLDINGS LIMITED COM NEW 59982U200 1,926,192 1,660,510 SH SOLE 1,660,510 0 0
TERAWULF INC COM 88080T104 1,037,400 42,000 SH Call SOLE 0 0 0
TON STRATEGY CO COM 92337U302 965,300 378,549 SH SOLE 378,549 0 0
UNITED STS BRENT OIL FD LP UNIT 91167Q100 3,462,719 85,100 SH Call SOLE 0 0 0
UPEXI INC COM NEW 39959A205 2,164,476 2,760,107 SH SOLE 2,760,107 0 0
ZOOM COMMUNICATIONS INC CL A 98980L101 949,410 11,000 SH Call SOLE 0 0 0
ZOOZ STRATEGY LTD ORD SHS M2573A239 2,760,959 498,368 SH SOLE 498,368 0 0