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[Alpha Test Log 004] Professional capability shouldn't mean a complex application process. We’ve made it easy to get started, no matter your starting point. 👉App Access: Download from the iOS and Android app stores (invite only for now). 👉Login ease: Use Apple and Google SSO or sign in with email. 👉Wallet Ownership: Get a self-custodial wallet during sign up. 🫡

Data that matters before July 4th: ISM Manufacturing tests whether Empire State’s drop from 19.6 to 5.7 was regional noise or the first national crack, while June jobs tests whether the labor market is finally slowing. Four months into the energy shock, the question is no longer just inflation; it’s whether growth is starting to feel the lag, so watch the internals, not just the headline.

Fund it like a CEX. Own it like a wallet. A couple weeks back we showed you the rails. The part worth considering is what they let you do. Funding works the way it does on the exchange you already use. The on and off ramps are built with @HallidayHQ, so it holds up across regions, and custody never leaves you. Your balance is yours the whole time, not the platform's. Fund straight from your exchange balance, no withdrawal to an outside wallet first. The withdrawal side is where it gets interesting. Hold your balance in cash, then pull it out as any token you want, converted for you as it leaves, straight to a wallet, a card, or a bank. Or move USDC in and out of your Monad wallet directly, with nothing sitting in between. Funding has always been the quiet thing keeping traders on centralized platforms. We took the friction out without ever taking your keys.

Revisiting our six catalysts in ten trading days. No growth scare yet, but an #energy shock is driving inflation higher. The Strait of #Hormuz fed straight into the pump: CPI ran to 4.2%, PPI to 6.5%, while core stayed calm at 2.9%. Normally the Fed shrugs off supply shocks. This time it didn't. Rates were held at Chair Warsh's first meeting, but the dot plot flipped from a 2026 cut to a hike. The Fed seems to be forgetting James Hamilton: #oil spikes have preceded all but one postwar U.S. recession, and the hit to demand lands nine to twelve months later. Hormuz has choked supply since late February, so the clock is already ticking. $SPCX IPO and still-growing factories aren't the all-clear. It's just early. The war is winding down, which limits the shock, but four months of it are already in the pipeline. So, did the Fed take the bait?

The Empire State Manufacturing Index is a monthly diffusion index from the New York Fed, tracking whether ~200 regional factory executives see business conditions improving or deteriorating. Readings above zero signal expansion; below zero, contraction. As it’s one of the first releases each month, it offers a timely view on industrial momentum. That said, it’s somewhat noisy, so the three-month trend matters more than any single print. This week the reading came in at 5.7 - still positive, but down sharply from May’s four-year high of 19.6. That cooling comes against a firmer backdrop: after spending much of 2024 and early 2025 in contraction, the three-month average has climbed to 12.1, its strongest since early 2022. One softer print points to moderating momentum, not a clear reversal. For now, we defer to the trend; next month’s release will help clarify whether this cooling is temporary or the start of something more sustained.