Hey Crypto Addicts,

Bitcoin is grinding sideways at $73K. HYPE just printed a new all-time high. In the same bear market. At the same time.

HYPE reached $69.97 for the first time in its history on May 31, extending a 67% monthly surge that added over $11 billion in market cap in 2026 alone. The token briefly overtook Dogecoin to become the 9th largest cryptocurrency by market cap.

Four things driving this simultaneously.

The CFTC approved the first regulated US perpetual futures contract, validating the exact financial framework Hyperliquid is built on and opening a path for institutional access to decentralised derivatives.

US-listed spot HYPE ETFs drew $100.48 million in May inflows, adding institutional demand on top of the protocol's own fee-driven buyback mechanism. ICE CEO Jeffrey Sprecher said Hyperliquid is "bigger than Nasdaq" and that his team has met the founders multiple times. And Grayscale is negotiating a $115 million seed deal for a Hyperliquid Staking ETF under ticker HYPG.

Arthur Hayes targets $150 by August 2026. The protocol generates $1.3 billion in annualised fees with 99% routed back into token buybacks.

Bitcoin is down 21% on the year. HYPE is up 146%.

The divergence is the story of May 2026. ☕

Two attacks. One month. $577 million gone. And neither of them involved a single line of bad code.

In April 2026, North Korea's Lazarus Group drained Drift Protocol for $285 million and KelpDAO for $292 million, accounting for 76% of all crypto theft in 2026. Neither was a smart contract exploit.

The Drift attack is the more disturbing story.

Attackers spent six months posing as a trading firm, attending crypto conferences in person, building real relationships with Drift engineers before extracting the signatures they needed to drain $285 million in twelve minutes.

The KelpDAO attack was different but equally devastating.

KelpDAO's bridge was compromised through a single-verifier design flaw in a LayerZero bridge node. Attackers then laundered proceeds through THORChain after $75 million was frozen on Arbitrum.

This is no longer a crypto security problem. It is a state-sponsored intelligence operation, run by a country that uses the proceeds to fund its weapons program. Every undefended multisig is a contribution to that pipeline.

North Korea has stolen over $6 billion in crypto since 2017. Their share of total hack losses has risen from below 10% in 2020 to 76% in 2026.

The threat has evolved. The industry has not caught up yet.

Watch your keys. Watch your multisigs. Watch your bridges. ☕

Kiyosaki's Bitcoin Warning

The man who has been telling you to buy Bitcoin for years just told you to be careful about buying Bitcoin.

Robert Kiyosaki posted on X on May 30 with a message that cuts through the noise: "Remember even gold, silver, and Bitcoin can cost you money if purchased on hype."

The Rich Dad Poor Dad author is still long-term bullish on Bitcoin, projecting prices of $250,000 and even $750,000after a global financial crash. But his latest message focused less on price targets and more on investor behaviour.

His point is worth sitting with.

Strong narratives around an asset do not remove risk. Buying because others are excited or because someone on X said it was time is not an investment strategy. It is hype chasing. And hype chasing at the wrong level in a bear market is how good assets become bad trades.

Kiyosaki's most quoted line: "Always remember your greatest asset lies between your right ear and left ear."

Bitcoin is down 21% this year. Sentiment is at 35 Fear. The chart is weak.

Buying the right asset at the wrong price is still the wrong trade.

Know what you own and why you own it. ☕

Late last year, a Klimt sold for the highest price ever paid for modern art at auction.

An outlier sure, but it wasn't a fluke. U.S. auction sales grew 23.1% in 2025. The $1-5mm segment even grew 40.8% YoY.

Meanwhile, Apollo’s chief economist Torsten Slok said to expect ‘zero in return in the S&P 500 over the coming decade.’

So, that's where it gets interesting.

Each environment is unique, but after dot-com, post war and contemporary art grew about 24% annually for a decade. After 2008, about 11% for 12 years.

It’s also had near-zero correlation with the S&P 500 since ‘95.*

Now, Masterworks lets you invest in shares of artworks featuring legends like Banksy, Basquiat, and Picasso.

Shares can sell quickly, but my subscribers can skip the waitlist:

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^{*Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.}

Pass It Now

Senator Cynthia Lummis just issued the most urgent warning yet on the CLARITY Act.

Her exact words on X: "The next window for digital asset legislation after this Congress is likely 2030. Until then, developers remain exposed with no legal protections, and law enforcement remains without the tools to hold bad actors accountable. The Clarity Act solves both."

The political alignment that exists right now is rare.

The House passed the CLARITY Act 294 to 134. The Senate Banking Committee cleared it 15 to 9. The Senate Agriculture Committee has cleared its version. The White House has publicly backed it as a national priority.

That alignment does not last forever.

The current 119th Congress ends in January 2027. Midterm elections in November 2026 could reshape priorities, leadership and momentum. If the CLARITY Act fails this session, a new Congress would likely restart the entire process from scratch.

The obstacles are real. Jamie Dimon declared war on the bill. Stablecoin yield rules remain unresolved. Democratic holdouts need to be won over one by one to reach 60 Senate floor votes.

The window is narrowing fast. Pass it now or wait four years.

The Senate floor vote is the only thing that matters between here and August. ☕

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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One More Leg Down ?

The chart is building a concerning structure for the second time this cycle.A second bearish flag is forming on Bitcoin. For those who followed the first one earlier this year, you already know how this pattern tends to resolve.

A bearish flag forms when price consolidates in a tight upward channel after a sharp decline. It looks like stabilisation. It feels like recovery. But historically it is the market catching its breath before continuing lower.

The measured move from this second flag formation points toward $46,000.

That is not a random number. Measured moves take the length of the initial decline before the flag and project it downward from the breakdown point. The math produces $46K.

The critical word right now is "if."

A breakdown below the flag structure is still required to confirm the pattern. Bulls can still invalidate this with a high volume break above the flag's upper boundary.

Two scenarios. One decision point.

Breakdown with bearish volume: $46K is the target. Break above with strong volume: bearish thesis invalidated.

Watch the next directional candle very closely. The flag is waving again. ☕

A whitehat developer has successfully recovered around $2 million worth of ETH that had been locked inside a forgotten 2016 ICO smart contract for nearly nine years. The funds, totaling 1,003 ETH, were trapped due to a flaw in the original contract design, but the developer was able to exploit a previously overlooked vulnerability to safely retrieve the assets.

Bitcoin is showing signs of short-term weakness as traders prepare for the monthly close, with price action at risk of finishing May in negative territory. Market attention is now shifting toward upcoming US economic data, particularly the ISM Manufacturing PMI, which could become a major volatility catalyst for both traditional and crypto markets.

Vietnam is taking a major step toward integrating digital assets into its financial system after the Ministry of Finance proposed allowing small and medium-sized enterprises (SMEs) to use digital assets, virtual assets, and intellectual property as collateral for bank loans. The proposal aims to improve access to capital for startups and technology-focused businesses

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Portfolio red, McDonald's career opportunities green…