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Yesterday was the third-largest single-day gain in BTC and the outright largest single-day gain in ETH this year.

Brown University owns $5M of bitcoin. Why does that matter? - Brown has a $7B endowment - Bitcoin represents 0.7% of its portfolio - Brown is 1 of the 8 Ivies - Ivy Leagues collectively manage ~$200B

There it is. Coinbase will join the S&P 500 next week.

Why Coinbase entering the S&P 500 matters

Next up: Vote

This is like a Snapshot vote to proceed with a formal onchain vote.

It’s days like today that my fiancée once again asks me: “Are you going to sell now?”

Fun Fact: The GENIUS Act will be the first bill passed out of the Senate Banking Committee in 8 years (if it passes).

$8 trillion of assets held in 401k plans have not had access to Bitcoin… until now.

If just 1% of the $8 trillion in 401k funds flows into Bitcoin, that’s $80 billion of new demand, and 2x more than what’s flowed into Bitcoin ETFs.

May was the 5th best month for flows since the launch of bitcoin ETFs. If that momentum continues through June, we could see the best month yet.

1/ Circle's IPO is raising $1.1B, ranking it in the top 10 IPOs of 2025 by issuance size. The offering of $CRCL priced at $31/share, giving Circle a fully diluted valuation of ~$8.1B. Circle's USDC has ~30% of the stablecoin market, with $61B in circulation.

Etc. May was the 3rd best month for flows since the launch of Ethereum ETFs.

Why are people shocked by the CRCL price action? Circle is going after the same market as Tether, which generates more profit than Goldman Sachs (and Goldman's worth $187 billion). Circle is currently valued at $17 billion...