GM to all of you nutcases. It’s Crypto Nutshell #930 strollin‘ in… 👞🥜

We're the crypto newsletter that's more trend-setting than a fashion editor choosing next season's colour before breakfast reaches the desk… 👠☕

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BREAKING: Trump agrees to ethics provision as crypto bill inches closer to Senate vote

For the longest time, we’ve said crypto's biggest bill was stuck on the one thing Trump couldn't hand over.

Rules restricting his own crypto fortune.

Monday night, he handed it over…

The president has reportedly agreed to ethics language in the CLARITY Act - the exact provision that's jammed the bill for months.

That was the last wall.

Quick refresher for those that don’t know.

CLARITY is the bill that would finally hand US crypto a full federal rulebook, splitting oversight between the SEC and the CFTC.

It's the "permission structure" institutions have waited years for.

And it was hung up on a single clause: barring the president, his family and top officials from cashing in on the industry they regulate.

Given Trump disclosed $1.4 billion in crypto income last year, that clause had his name all over it.

Now he's signed off.

Text could drop within days, and the Senate has until its August 8 recess to vote.

But read the fine print before you celebrate…

He agreed to a version. His version.

Democrats haven't seen the text, let alone blessed it.

And there's something odd about the man a rule is built to restrain being the one who waves it through.

The two Democrats whose votes actually decide this have been blunt: weak ethics, no deal.

As one put it, "you're not going to have the Democratic votes." The bill still needs seven of them.

Meanwhile the market's already celebrating - just not for this.

Bitcoin ripped to a two-week high near $65,900, up 5% on the week.

But that's the chip trade roaring back (the same one that gutted it last week), five straight days of ETF inflows past $600M, and oil cooling on Iran diplomacy.

Notice what's missing? CLARITY.

If the bill actually clears, the catalyst institutions have waited years for isn't even in the price yet.

The door just cracked open. Now we find out what's behind it. 🚀

AI is moving from experiment… to essential.

Every major industry is integrating it.
Every major company is investing in it.

By late 2025, AI was already an $800B market — growing at a pace that could push it well beyond $1 trillion in the years ahead.

Cloud infrastructure is scaling fast.
AI-enabled devices are multiplying.
Automation is becoming standard.

But here’s the real question…

When trillions flow into this transformation — which stocks stand to benefit most?

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Not everyone thinks this is a dip. Chamath Palihapitiya just laid out why he thinks the damage might be structural.

Chamath is the founder of Social Capital, an early-stage investor and one of the loudest voices in tech finance.

Here's what he posted:

2 problems, in his read.

One: marginal liquidity would rather speculate in prediction markets and equities than crypto. The gambling money found new tables.

Two: the marginal energy used to mine Bitcoin is worth 10-20x more if redirected to serving AI tokens. Miners follow the highest bid, and right now that bid isn't Bitcoin.

"These changes feel structural but I could be wrong..."
Chamath Palihapitiya

Worth sitting with. But also worth noting the other side.

Hashrate leaving is what difficulty adjustment was built for, and every previous miner exodus preceded a rally. And Fred Krueger's framing points the opposite direction entirely: in a world where AI makes everything abundant, the assets that can't be replicated become the scarcest thing on earth.

Chamath sees energy leaving Bitcoin for AI. The bulls see AI making Bitcoin's 21 million cap more valuable than ever.

Same trend. Opposite conclusion. 🪨

Back to the ETF flow data - our weekly read on institutional appetite.

Green means money flowing in, red means it’s heading out.

Last week's green turn wasn't a blip. This week, it got stronger.

Bitcoin ETFs pulled in about $500 million over the past five sessions - more than double last week's $197 million, and green every single day.

BlackRock's IBIT drove it, adding inflows on all five.

Ethereum built on its week too: roughly $121 million in, up from $84 million, positive on three of four days.

So that's two straight green weeks now - and the second bigger than the first.

After a long stretch of one-way redemptions, institutions aren't just easing off the exit… they're stepping back in.

Still worth some caution.

Lifetime these funds hold over $51 billion in Bitcoin and $11 billion in Ethereum, so a couple of green weeks is a dent in the recent outflows, not a full reversal.

But the something has clearly shifted - and this week it shifted harder. 📊

Tether Gold recognized as Accepted Spot Commodity in Abu Dhabi financial center. ADGM’s recognition gives regulated firms a clearer route to offer services involving tokenized physical gold.

Bank of Korea Scales Up CBDC Pilot With Half a Million Users. Project Hangang’s second phase expands to nine banks and introduces real government money.

Grayscale could take Worldcoin to Wall Street after ETF filing with the SEC. The filing tests how far America’s expanding altcoin ETF pipeline can stretch.

Exodus to cut 25% of global workforce in payments shift. Exodus is restructuring around a full-stack payments platform following its Monavate and Baanx acquisitions.

Want to get even smarter? Check these out.

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Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

Because what would the crypto world be without its share of memes?

Trivia Answer: One party gains majority control of the network power used to confirm transactions. 🥳

Majority control can let an attacker reorganise recent transactions or attempt double-spends. It does not give them every wallet's private keys.

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