Hey Crypto Addicts,

Bitcoin hit $82,000 on Thursday after the CLARITY Act cleared the Senate. By Friday it was back below $79,000. That is how fast the macro can take back what legislation giveth.

The culprit is the bond market.

The US 10-year Treasury yield surged to 4.54%, its highest since May 2025, after hotter than expected CPI and PPI data stoked fears of a Federal Reserve rate hike. The 30-year yield crossed 5%. The 2-year broke above 4%. All in the same session.

Crypto-linked equities got hit harder than Bitcoin. Coinbase dropped nearly 6%. Circle fell 7.4%. Strategy slid 5.4%.Bitcoin miners MARA and Hut 8 each lost around 7%.

CME FedWatch now prices more than a 44% probability of a Fed rate hike by December, a sharp reversal from expectations of multiple cuts at the start of 2026. At the start of the year traders expected two cuts. Now they are pricing a hike.

Bitcoin has now failed to close above its 200-day moving average at $82,228 on five consecutive attempts this month…

Five tries. Five rejections. The ceiling is real.

The CLARITY Act tailwind is real. The macro headwind is also real. Right now the headwind is winning.

Watch the bond market. It is running the show. ☕

What we’ve covered for you today:

Revolut started as a prepaid card for better holiday exchange rates. It is now launching a private bank for clients with at least £500,000 to deposit.

The FCA this week granted Revolut's trading arm permission for leveraged products, discretionary portfolio management and private wealth services for the first time. Combined with the UK banking licence from March, Revolut now has everything it needs to compete directly with Coutts and UBS.

Here is the gap it is targeting. Coutts recently raised its minimum to £3 million. UBS sits at £1 million. Revolut is pitching at £500,000, a segment the traditional private banks just abandoned.

The crypto angle matters too…

Over 10 million Revolut customers already hold or trade crypto inside the app, and the private banking unit could blend crypto, staking and managed portfolios inside a single FSCS-protected environment. No traditional private bank offers that combination.

Revolut's wealth division posted 31% revenue growth to £663 million in 2025 with a $200 billion US IPO targeted for 2028.

It started with exchange rates. It is ending with private banking. The traditional banks are not going to enjoy this.☕

Myanmar just proposed the harshest crypto fraud law on the planet. And it is not messing around.

Myanmar's military-backed government published the Anti-Online Scam Bill on May 14, proposing life imprisonmentfor anyone who operates a scam center or commits digital currency fraud.

For those who use violence, torture or cruel treatment to force victims into scam work, the penalty is the death sentence.

These are the infamous pig butchering compounds operating across Myanmar's conflict zones, tricking victims globally with romance and crypto investment scams. The FBI reported US victims alone lost more than $20 billion through such schemes last year.

Myanmar is not acting alone.

China already executed 11 people linked to Myanmar scam operations in January 2026. Cambodia passed its own anti-fraud law with sentences up to 20 years. Singapore is launching a new Cyber Command unit in July.

The regional crackdown is accelerating fast.

Myanmar's parliament sits in early June to debate the bill.

The scam compound era in Southeast Asia is ending.

Just not quietly. ☕

WeAreDevelopers World Congress comes to San José, CA — September 23–25, 2026. 10,000+ developers, 500+ speakers, and the full software development lifecycle under one roof, in the heart of Silicon Valley.

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$17.95M CONX Unlocked

Token unlocks do not always move markets. This one is worth paying attention to.

Connex, a Web3 professional networking platform, unlocked 1.32 million CONX tokens worth $17.95 million on May 15, representing 1.49% of circulating supply.

That sounds manageable. Until you see the market cap.

The unlock represents roughly 60% of CONX's entire market cap of $30.61 million. That is not a routine supply event. That is a significant liquidity injection into a small market.

Of the unlocked tokens, 822,500 CONX went to the ecosystem fund, with the remainder distributed to team, advisors and partners. When advisor and team tokens unlock, they do not always sit quietly in wallets.

The honest context: 88.6% of CONX's maximum supply has already been released, meaning this is a late-stage event with limited remaining dilution after today.

A token unlock equivalent to 60% of market cap on the same day broader crypto markets are selling off is not ideal timing.

Watch the price action closely. ☕

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

Bitcoin Bottom Model?

The bottoming model is sending a clear message. The low is not currently in place.

What we are seeing is a potential bear trap. A convincing bear market rally off the $60,000 low that looks like recovery but has not confirmed a genuine cycle bottom.

For the model to remain intact, price needs to revisit the lows to generate the liquidity required for a durable bottom to form. Without that, the foundation simply is not solid enough. 👀

The current region of $79,000 to $80,000 is likely where the top of this bear market rally sits.

If price fails to break and hold above this zone in the coming days and weeks, the probability of a macro corrective move increases significantly. That move would target the lows, sweep liquidity below, and force the kind of capitulation that historically precedes genuine accumulation.

That accumulation phase is what matters most.

Price spending extended time at lower levels building a solid foundation is what separates a real cycle bottom from a dead cat bounce. Once that foundation is established, the setup for a rotational move back toward the highs becomes structurally sound.

The model requires patience.

But the reward is a better entry and a cleaner trade. ☕

Hyperliquid’s HYPE token surged more than 23% in a single day after a wave of bullish catalysts boosted investor sentiment. The rally was largely driven by the launch of US-listed spot Hyperliquid ETFs from Bitwise and 21Shares, alongside reports that venture capital firm a16z accumulated nearly $67 million worth of HYPE

Wells Fargo significantly increased its exposure to Ethereum ETFs during Q1 2026, boosting its holdings in BlackRock’s ETHA fund by 63.5% and increasing its Bitwise ETHW position by 37%, according to recent SEC filings. While the bank slightly reduced some Bitcoin ETF exposure.

South Korea’s Financial Services Commission plans to release detailed rules for tokenized securities in July 2026 as the country accelerates efforts to bring blockchain-based assets into regulated financial markets. The framework will allow the issuance and trading of tokenized securities.

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Every time someone says “crypto is dead,” another institution quietly buys billions in the background… 🫠