Hey Crypto Addicts,

Bitcoin just got knocked out of the world's top 10 assets by market cap. And the reason is not just Bitcoin weakness. It is everything else getting stronger.

Bitcoin's market cap has fallen to approximately $1.09 trillion, now sitting behind gold, silver and every single member of the Magnificent Seven ~ Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta and Broadcom.

Six months ago Bitcoin was the fifth largest asset on earth. It overtook silver. It briefly surpassed Google. Now it is outside the top ten entirely.

The Roundhill Magnificent Seven ETF climbed 33% over the past year. TSMC and Broadcom each have nearly $2 trillion in market caps. Even Samsung at $1.3 trillion is sitting just behind Bitcoin now.

Capital is not disappearing. It is rotating. AI stocks are surging. Gold hit record highs above $4,300 per ounce. And Bitcoin is losing the race for global capital flows right now.

The more existential question for long-term holders is whether the $1 trillion market cap zone will keep acting as a structural floor, or whether the next macro shock knocks it further down the table.

Bitcoin was once the fifth largest asset on the planet. Today it is outside the top ten.

The cycle will decide what comes next. ☕

Europe just got a warning from inside its own banking system.

UniCredit deputy vice chair Elena Carletti warned that Europe lacks the tools to backstop a crypto-linked banking shock the way US regulators did after the SVB collapse in 2023. EU deposit insurance is capped at €100,000, nowhere near enough to absorb stress from large stablecoin reserve accounts.

The SVB comparison is precise. When SVB collapsed, Circle had $3.3 billion of USDC reserves stuck at the bank. The stablecoin briefly lost its dollar peg before US regulators guaranteed all deposits including those of crypto firms.

"The same decision cannot be easily taken in Europe," Carletti said.

Here is the structural problem MiCA created. The regulation forces stablecoin issuers to hold reserves as bank deposits, creating a close alliance between crypto providers and traditional lenders, but without the ability to extend insurance to the same degree.

Carletti called it "a double form of weakness."

The warning comes as UniCredit itself is a founding member of Qivalis, the consortium planning a MiCA-compliant euro stablecoin for launch in the second half of 2026.

Europe is building crypto infrastructure while warning it cannot protect it. ☕

100 Firms Vote

The CLARITY Act cleared the Senate Banking Committee in a 15-9 bipartisan vote on May 14. Now the industry is making sure it does not die waiting for the floor vote.

The Digital Chamber is leading a coalition of over 100 crypto firms urging the Senate to pass the CLARITY Act before the summer recess. The Crypto Council for Innovation and the Blockchain Association are running parallel lobbying tracks targeting swing-vote senators in the Democratic caucus.

The math is clear. The bill needs 60 Senate floor votes to clear a filibuster. Bipartisan support is not optional. It is mandatory.

Two issues remain unresolved.

Senator Elizabeth Warren has opposed the bill, citing weak anti-money laundering provisions. And the ethics provisiontied to the Trump family's crypto involvement remains a sticking point that both sides need to negotiate before the floor vote…

Digital Chamber CEO Cody Carbone was direct: "I imagine the deal will be completed before this goes to the floor, because they'll want to only bring it to the floor if they feel confident they've got 60."

The window is narrow. Senate floor vote needs to happen by August. Treasury Secretary Scott Bessent called the bill "critical to maintaining US competitiveness."

Polymarket currently puts the odds of 2026 passage at 67%.

The clock is ticking. ☕

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Trezor Now Pays Yield

Your hardware wallet just became a savings account. Sort of.

Trezor launched native USDC and USDT yield in Trezor Suite on May 28, allowing over 2 million hardware wallet users to access DeFi yield without connecting a third-party wallet or navigating separate DeFi applications.

The integration is powered by Morpho, a decentralised lending protocol on Ethereum. Two vaults are available at launch: USDC Prime and USDT Prime, both curated by Steakhouse Financial.

Both vaults target 4.5% to 6.5% APY for USDC and 4.5% to 6% APY for USDT, with a 15% management fee. Deposits, withdrawals and reward claims are all signed directly on the hardware device via clear-signing, which displays transaction details in human-readable form on the device screen.

The key distinction worth understanding: yield comes from real borrowing demand on Morpho, not token incentive programs. That makes it more sustainable but also more variable.

Private keys never leave the device. No lockup periods. No external wallet required.

The hardware wallet market is evolving fast. Trezor just turned cold storage into a yield-generating instrument.

Ledger is watching. ☕

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.

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Where Are We?

If you have seen the Wall Street Cheat Sheet, you know the emotional journey. Euphoria. Denial. Fear. Panic. Capitulation. Hope. Euphoria again.

So where does Bitcoin sit right now?…

Based on current price action and sentiment data, Bitcoin appears to be operating between the Anxiety and Denial phase of the cycle.

After the euphoria peak at $126,000 in late 2025, Bitcoin has corrected significantly. Most retail participants who bought the top are underwater. Denial is visible everywhere. "We're just consolidating" is appearing across social media while price continues printing lower highs.

The data confirms the phase. Fear and Greed at 32 Fear. Exchange reserves at 2019 lows. Consistent ETF outflows. Bitcoin dropped out of the global top ten assets.

These are not signals of a market in recovery. These are signals of a correction that has not yet reached its most painful point.

The capitulation phase is still ahead. That is the moment of maximum pain where even long-term believers question everything. Historically it produces the best buying opportunities.

We are not at the bottom of the cheat sheet yet.

But the good news: after capitulation comes Depression. Disbelief. Hope. Relief. Optimism. Euphoria.

The cycle always plays out. Know where you are. Stay patient. ☕

Blockchain infrastructure firm Paxos has become the first crypto-native company to receive SEC clearing agency registration in the United States, marking a major step toward integrating blockchain technology into traditional financial markets. The approval allows Paxos to provide regulated clearing.

Bitcoin’s long-term holding structure is beginning to weaken across several major investor groups, according to CryptoQuant data, as whale accumulation slows and key cohorts shift from aggressive buying toward mild distribution. Analysts noted that wallets holding between 1,000 and 10,000 BTC have seen annual balance growth turn negative

The Sui network is back online after suffering a nearly six-hour outage caused by a “crash bug” introduced in a recent software update, temporarily halting transactions and freezing activity across the blockchain. The incident marks Sui’s second major outage this year, raising concerns around network reliability despite developers quickly deploying a fix.

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