ethos-capital

.org Is a Trust Lease Without a Price Ceiling — 12M Names, a Blocked $1.135B Sale, and $11 Wholesale

~11.96M DUM per PIR dashboard—not "~10.5M." Wholesale $9.93 until June 2026, then $11.00—first hike since 2016, caps removed in 2019 RA. Ethos Capital's blocked $1.135B deal, $360M debt, Fadi Chehadé, ISOC's $61M cut—and why the old guide's 10% cap fiction and AIO boilerplate failed audit.