Hey Crypto Addicts,

Bitcoin gave back every gain from May last week. And the numbers behind the move are not pretty.

US spot Bitcoin ETFs recorded $1.039 billion in net outflows for the week ending May 15, snapping six consecutive weeks of positive inflows. The largest weekly exit since late January. Ethereum ETFs added $255 million in outflows on top.

Institutions are not buying the dip right now. They are quietly heading for the door.

The culprit is the bond market. The 10-year Treasury yield hit 4.63%, a 16-month high, up 70 basis points since the Iran War began. Odds of a 2026 rate cut have collapsed to just 2%. When bonds yield 4.63% with zero risk, crypto starts looking a lot less attractive.

Then Trump warned Iran that "the clock is ticking."

WTI crude climbed above $107 per barrel as Strait of Hormuz disruptions continued, adding fresh inflation pressure to an already hawkish macro environment.

More than $661 million in crypto positions were liquidated in 24 hours, with bullish long positions accounting for nearly 95% of the wipeout…

While the market was busy dumping, Revolut dropped something nobody asked for but everyone will talk about…

Revolut has launched its first ever physical crypto card, and they went full Doge. The card features a Dogecoin theme and an LED display that lights up every time you tap to pay.

Nothing says financial revolution like a glowing dog face at the checkout…

The card works anywhere, Visa and Mastercard are accepted, launching first across the UK and EEA. No additional exchange fees. Crypto balances convert to fiat automatically at the point of sale. The merchant sees a normal card payment. You see a light show.

Revolut's announcement on X was perfectly on brand: "Physical crypto card. Much light. Very tappy."

The serious point underneath the meme: Revolut has 70 million users, a full UK banking licence, and a pending US banking licence application. Connecting crypto balances to everyday spending at that scale is what most crypto-native card products have been missing.

The honest caveat: every crypto card payment is a taxable disposal event in most jurisdictions. Frequent tappers will need good records.

The crypto card race is officially a consumer product now. And Dogecoin is on the front of it. ☕

The largest IPO in history is coming in June. And it has Bitcoin on the balance sheet.

SpaceX holds 8,285 BTC worth $637 million in Coinbase Prime custody, making it the fourth largest known corporate Bitcoin holder in the world. The position has been unchanged since June 2022. Through losses, market crashes and a $5 billion annual loss from absorbing xAI, SpaceX never sold a coin. 👀

The IPO is targeting a June 12 Nasdaq debut under ticker SPCX, with the S-1 filing expected as early as May 20. At a projected valuation of $1.75 to $2 trillion, SpaceX would debut as the sixth largest public company on earth.

Here is the crypto angle that matters.

Once SpaceX lists, its Bitcoin position will be reported publicly every quarter under FASB fair-value accounting rules for the first time. Thousands of ETFs and pension funds that buy SPCX for its aerospace and AI exposure will gain indirect Bitcoin exposure whether they intended to or not.

SpaceX currently sits on an unrealised profit of $360 million on its Bitcoin stack.

The company that put a Tesla in orbit is now about to put Bitcoin on the balance sheets of every fund that owns it.

Not a bad week for the number-go-up thesis.☕

Keeping up with AI shouldn't feel like a second job.

But between the new tools, viral posts, and endless hot takes, most people spend hours every week trying to figure out what actually matters.

The Rundown AI fixes that. 

It's a free newsletter that gives you the AI news, tools, and tutorials you actually need to know. All in just 5 minutes a day.

Over 2M professionals at companies like Apple, Google, and NASA already read it every morning to stay ahead.

Plus, if you complete the quiz after signing up, they'll recommend the best tools, guides, and courses for your specific job and needs.

Sign up to start learning.

BTC Miner Goes AI

HIVE Digital Technologies spent years mining Bitcoin. On Monday it announced it is building one of Canada's largest AI data centers instead.

HIVE's stock surged 35% after unveiling plans for a 320 MW AI gigafactory in the Greater Toronto Area through its subsidiary BUZZ High Performance Computing, designed to host over 100,000 GPUs at full build-out.

Total investment: CAD $3.5 billion. Target launch: second half of 2027.

The site is 25 acres along the Toronto-Waterloo corridor, already secured with a 320 MW utility power allocation. BUZZ paid CAD $58 million for the land. HIVE currently operates around 5,500 GPUs generating AI cloud revenue. This facility would multiply that by roughly 20 times.

Executive Chairman Frank Holmes did not mince words: "Canada produced the Godfathers of deep learning but kept renting the factories. That era is over."

The honest caveat: CAD $3.5 billion is a lot of money for a company whose market cap was a fraction of that figure before Monday's announcement. Dilution risk is real. Construction timelines on 320 MW facilities have a habit of slipping. And the AI infrastructure market is getting very crowded very fast.

But the direction of travel is clear.

Bitcoin mining is shrinking. AI compute is growing. The miners with the land and power to pivot are pivoting hard.

HIVE just placed its bet. ☕

The Future of Crypto Banking Is Here

While most people are still juggling wallets, exchanges, and banks… a small group is already moving faster with all-in-one crypto banking.

Veil Bank isn’t just another tool.

It’s a privacy-first omni-bank where you can swap, bridge, borrow, and spend ~ all in one place, without friction.

No delays. No unnecessary steps. No outdated systems holding you back.

The reality? The people who adopt better tools early are the ones who win long term. Everyone else catches up later… at a cost.

Don’t be the one still figuring it out when the edge is already gone.

👉 Get ahead here: https://veilbank.co/#products

$60,000 Bitcoin Price ?

The chart is drawing uncomfortable comparisons right now. And they are worth taking seriously.Bitcoin's current price action is mirroring the 2022 correction almost tick for tick.

The bearish retest playing out right now closely resembles the same structure that appeared in 2022 before a further bearish expansion confirmed the broader downtrend.

Same shape. Same characteristics. Same warning signs.

If this pattern continues following the 2022 playbook, the current rise gets classified as a bear trap inside a larger bear market. The rejection would then confirm another lower high in the macro bearish trend. 👀

In 2022, this exact setup led to a bearish cascade that took out the prior low before the real bottom was established.

If that happens again, the next target is $60,000 and below. That is not a prediction. It is a probability based on price structure.

The important point for patient investors though: a move to $60,000 would not be the end.

It would signal the beginning of a longer-term accumulation phase, the kind of extended base-building that historically precedes a genuine cycle bottom and the next bull cycle.

The current rise is not confirmed as a reversal until the structure proves otherwise.

Until then, $60,000 remains on the map. ☕

Kevin Warsh is set to be sworn in as the new U.S. Federal Reserve Chair this week, replacing Jerome Powell following Senate confirmation. Markets are closely watching the transition, as expectations for near-term interest rate cuts continue fading amid persistent inflation concerns and rising bond yields. Warsh, who previously served as a Fed governor during the 2008 financial crisis.

The U.S. SEC is reportedly preparing to introduce an “innovation exemption” framework that would allow tokenized versions of stocks to trade on blockchain-based platforms under a new regulatory structure. The proposal could open the door for crypto exchanges and decentralized platforms to offer tokenized equities without following the traditional stock exchange model.

Minnesota Governor Tim Walz has signed a new law allowing state-chartered banks and credit unions to offer cryptocurrency custody services beginning Aug. 1. The legislation, known as HF 3709, permits financial institutions to hold and safeguard Bitcoin and other digital assets on behalf of customers while operating under state regulatory oversight.

👇 All completely free, one click to subscribe.

NFT founders after the rug: ‘Thanks for believing in the vision.’.. old times…