Nasty work there

JUST IN: 🇺🇸 US Senate officially passes cloture vote for 'Genius Act' crypto stablecoin bill.

dude has a BILLION dollar bitcoin long open

We are now seeing the biggest onchain position EVER. Mysterious whale (and fee maximizer due to lack of Insilico Terminal usage) Mr. James Wynn is now long $1,094,928,845.83 dollars of BTCPERP on the fastest growing exchange in the world Hyperliquid. Hyperliquid World.

Those tulips 🌷 are moving again

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Never thought I’d be sweating Asia market hours but here we are.

JUST IN: 🇩🇪 German government's decision to sell 50,000 Bitcoin at $54k cost them $2.8 billion in missed profits.

I've never seen flows into BTC coming in so smooth. It's like institutions are dollar cost averaging in with their billions.

Funding rates in most crypto exchanges are at the baseline or below it. This is the least euphoric new all time highs in the history of bitcoin.

I hope Mr. Wynn can keep to his word, book the profit and walk away. $25 million is nothing to sniff at. But many have made such a pledge, only to find themselves sucked back in. Takes me back to the summer of 1996 in Hong Kong. My old trading colleague Jinwoo Park had done

No one knows anything

SEC says certain proof-of-stake blockchain protocol staking activities are *not* securities transactions… Another hurdle cleared for staking in spot eth ETFs. Now need clarity from IRS on how staking revenue handled in grantor trust (which is structure used for spot eth ETFs).

S&P 500 just had its best month of May since *1990*… 35yrs. World didn’t end. Nobody. Knows. Anything.

*CIRCLE IPO IS SAID TO BE OVER 25 TIMES OVERSUBSCRIBED

This is nuts

Strategy announces pricing of its Stride Perpetual Preferred Stock $STRD Offering and upsizes the deal from $250M to $1B. $MSTR strategy.com/press/strategy…

BREAKING: APPLE, X, AIRBNB, AND GOOGLE ARE ALL HOLDING EARLY CONVERSATIONS WITH CRYPTO FIRMS ABOUT INTEGRATING STABLECOINS - PER FORTUNE SOURCES