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The Face of “Altseason” Was a Lie | by Chip Mahoney | The Capital | Jun, 2025

J_News by J_News
June 19, 2025
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The Face of “Altseason” Was a Lie | by Chip Mahoney | The Capital | Jun, 2025
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Everyone’s waiting for Altseason.

They’re refreshing their watchlists. Chasing tickers. Reading tweets that sound like prayers.

But if you’ve been in this space long enough, you already know what I’m about to say:

Altseason is a trap.

Not because it doesn’t happen — but because by the time you see it, it’s not yours anymore.

It belongs to the insiders. The exchanges. The suits who knew how to play the game before you even realized one was being played.

And yet, every cycle, the crowd lines up again — eager to buy someone else’s exit liquidity.

Remember that Forbes cover of SBF?

The “billionaire boy wonder” smirking like he just saved the world?

(How many more fraudsters will Forbes continue to crown as “geniuses” on the cover of their magazine? SBF, Elizabeth Holmes, Madoff, etc.)

That wasn’t journalism. That was advertising.

It was the financial equivalent of putting the Home Alone kid on the front of Time and calling him the next Warren Buffett.

We all saw it. Most just didn’t question it.



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