Key Takeaways:
Coinbase boosted HYPE 17% to $46.93 as Hyperliquid handed it USDH treasury rights.Michael Saylor’s Strategy saw STRC hit $1.53B volume, spotlighting BTC funding risk and demand.Kevin Warsh won Fed on May 14 as CLARITY advanced 15-9, keeping crypto rules in focus.Editor’s comment:
HYPE Jumps 17% After Hyperliquid Grants Coinbase Rights to USDH Assets
Editor’s comment:
Kevin Warsh Confirmed as Fed Chair as Lawmakers Split on Independence
Editor’s comment:
Tom Lee predicted that the S&P 500 would reach 7,300, and turned out to be right. The second half of the prediction was that markets would experience a drawdown, potentially driven by the entrance of a new Fed Chair, as has happened in the past. We will see if Lee’s right and if the Fed’s dot plot is still taken seriously through Warsh’s tenure.
Editor’s comment:
Infinite money glitches usually pop up during times of euphoria and irrational exuberance, and this is not one of those times. It will be fascinating to see how the mechanics of STRC hold up during a steep downturn, and if we get a breakout, just how high MSTR will go. It’s hard to tell if Saylor’s empire is a house of cards or a freight train that has reached escape velocity.
Warren Says the CLARITY Act Will ‘Blow Up the Economy’ as Senate Panel Votes 15-9 to Advance Bill
Editor’s comment:
Luckily, based on the statistics discussed in this issue of the newsletter, the economy is already blown up and won’t get much worse for the average person just because digital assets are regulated. It was a valiant effort from Warren, but ultimately, CLARITY will see the Senate, likely in June.
