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GM to all of you nutcases. It’s Crypto Nutshell #816 balancin’ perspectives… ⚖️🥜
We’re the crypto newsletter that’s more destabilizing than a perfect society cracking under one forbidden truth… 🧠🚨
What we’ve cooked up for you today…
🏦 Goldman buys the dip
🧪 The next 3 Bitcoin catalysts
📈 Holding steady
💰 And more…
Prices as at 2:40am ET
GOLDMAN BUYS THE DIP 🏦
BREAKING: Goldman Sachs Reveals $2.36 Billion in Crypto Holdings
Goldman Sachs just disclosed its biggest crypto bet yet.
The Wall Street giant revealed $2.36 billion in digital asset holdings in its Q4 2025 SEC filing - including Bitcoin, Ethereum, XRP, and Solana.
The breakdown:
$1.1 billion in Bitcoin
$1.0 billion in Ethereum
$153 million in XRP
$108 million in Solana.
A dramatic shift
This is a far cry from where Goldman stood just a few years ago.
Before 2020, executives dismissed Bitcoin as speculative with no intrinsic value. The firm warned clients it was unsuitable for serious portfolios.
Now?
Goldman is one of the most crypto-exposed major U.S. banks.
Its position has grown rapidly.
In Q3 2024, the bank held $710 million in Bitcoin ETFs. By Q4 2024, that doubled to $1.57 billion. Now it's $2.36 billion across four assets.
Still a small slice
But there’s a slight catch…
That $2.36 billion represents just 0.33% of Goldman's total portfolio. The bank manages over $3 trillion in assets.
So while the headline number is impressive, crypto still remains a rounding error for the firm. (The main takeaway is that their overall crypto exposure continues to grow)
Paper losses mounting
Goldman's filing reflects prices from late 2025, when Bitcoin traded near $112,000.
With BTC now around $69,000, the bank is sitting on roughly 45% unrealized losses on its Bitcoin position alone.
Still, the fact that one of Wall Street's most influential institutions keeps adding crypto - even through a brutal drawdown - says something about where institutional sentiment is heading. 🚀
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THE NEXT 3 BITCOIN CATALYSTS 🧪
When Michael Saylor talks about what actually moves Bitcoin… it’s worth paying attention.
This is the CEO of Strategy, the largest corporate holder of Bitcoin on Earth, explaining what he believes will drive the next major leg higher.
On the latest Strategy earnings call, Saylor laid it out the next 3 Bitcoin catalysts clearly.
Here’s what he sees coming that will move the needle:
1. Regulatory Support
“We have the most constructive set of financial regulators in the history of the industry right now.”
Let that sink in.
For over a decade, crypto fought regulators.
Now?
According to Saylor, the tone has completely shifted.
“Those 5 things are massive bull flags. They're all very positive.”
His message is simple: ignoring that support today means ignoring what policymakers are openly signaling.
2. Banking Adoption
Saylor believes the next unlock is traditional finance fully integrating Bitcoin.
“The formation of the banking credit networks… they start to allow you to trade Bitcoin, custody Bitcoin, borrow against Bitcoin.”
And when banks step in?
“They're going to legitimise the asset and they're going to decrease the volatility of the asset.”
Translation: Bitcoin stops looking speculative… and starts looking foundational.
3. Financial innovation
Products built around Bitcoin are expanding fast.
Saylor pointed directly to what large institutions are rolling out:
“The actions by the big banks and the actions by the financial regulators are the fundamentals.”
Infrastructure.
He summed it up with 1 line:
“The industry is going to move forward because of enlightened regulation, engaged, thoughtful banking, and then innovative finance.”
Zoom out. We have:
Regulators turning supportive.
Banks building rails.
Wall Street launching products.
These aren’t momentum signals.
They’re structural.
And structural shifts tend to reprice entire asset classes. 🧪
HOLDING STEADY 📈
Today we’ll be taking a look the overall stablecoin supply.
Stablecoins are the backbone of crypto liquidity, used for seamless trading and instant cross-border transactions.
The chart below tracks the aggregate change in the total stablecoin market cap.
🟢 Increased stablecoin supply: increased demand and capital inflows into the digital asset space 🐂
🔴 Contractions in stablecoin supply: net capital outflows from digital assets 🐻
Two weeks ago, the total stablecoin supply sat at $264.60 billion.
Today it's $264.07 billion.
That's a $530 million drop in the past 14 days.
So far in 2026, stablecoin supply has contracted by $3.86 billion. At first glance, that looks like retreat.
But zoom out.
2025 saw stablecoin supply surge by roughly $77 billion.
A $4 billion pullback after a $77 billion buildup isn't panic.
CRACKING CRYPTO 🥜
SafeMoon CEO Gets 8 Years in Prison for Crypto Fraud Scheme. Braden Karony, the CEO of SafeMoon, was sentenced to 100 months in prison for his role in a crypto fraud scheme that cost victims millions.
Crypto Hype ‘Fading’ as Tradfi Goes Risk-off: Waller. Federal Reserve Governor Chris Waller says the recent market drop may be due to traditional finance having to adjust for risk, noting that the Donald Trump-induced hype has faded.
Saylor shoots down any idea of forced BTC sale. Strategy Executive Chairman Michael Saylor affirmed the firm’s commitment to a long-term bitcoin strategy following major fourth quarter losses and a continued plunge in prices early this year.
Jailed FTX founder Sam Bankman-Fried files a motion seeking a new trial. Former FTX CEO Sam Bankman-Fried is seeking a new trial after being found guilty on multiple fraud charges.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
p.s. all completely FREE (one click subscribe link)
Raremints (link) - Daily crypto news
Bitcoin Breakdown (link) - Daily Bitcoin news
Techpresso (link) - Daily tech news and insights
The Hustle (link) - Get Smarter on Business and Tech
Your Next Breakthrough (link) - Personal growth with Mark Manson
The Neuron (link) - AI trends and tools to keep you ahead
CAN YOU CRACK THIS NUT? ✍️
Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)
What is the largest cryptocurrency exchange hack by dollar value?
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: ByBit (2025) 🥳
The ByBit hack in February 2025 saw North Korean hackers steal $1.5 billion in Ethereum tokens from the Dubai-based exchange, making it the largest cryptocurrency exchange hack in history by dollar value.
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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.