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GM to all of you nutcases. It’s Crypto Nutshell #691 cleanin’ it up… 🧽🥜

We're the crypto newsletter that's more surreal than being sucked into a board game where the jungle fights back... 🎲🌴

What we’ve cooked up for you today…

• 🏦 We have a timeline

• 🔮 Bitcoin to $1 million by 2030

• 🤯 Supply crunch

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

WE HAVE A TIMELINE 🏦

BREAKING: Sen. Cynthia Lummis aims for year-end deadline for crypto bill, backing House's version

Washington is finally getting its act together on crypto.

Sen. Cynthia Lummis - one of Bitcoin’s biggest allies in Congress - says a final market structure bill will be on President Trump’s desk before Thanksgiving.

This legislation will settle the most important question in U.S. crypto policy: how the SEC and CFTC divide oversight of digital assets.

Senate Shifts to House Bill

Instead of starting from scratch, the Senate is now leaning on the House’s Digital Asset Market Clarity Act as its foundation.

That bill already cleared the House with strong bipartisan support - 78 Democrats voted yes - making it a far smoother path forward than hashing out a brand-new draft.

Minor tweaks will come from the Senate, but the House’s framework is set to be the backbone of the final law.

Why It Matters

If passed, this bill would finally put an end to the regulatory turf war that’s plagued the industry for years.

The SEC and CFTC would each have clearly defined roles, giving exchanges, investors, and institutions real clarity on how to operate.

Momentum is also building: stablecoin legislation (the GENIUS Act) has already been signed into law, and now market structure is next in line.

And here’s the big one:

Wall Street’s hesitation vanishes when clarity arrives.

The lack of rules has kept some of the biggest players on the sidelines. A law like this could flip the switch.

The Timeline

• September → Senate Banking Committee vote

• October → Senate Agriculture Committee review

• November → On Trump’s desk, before Thanksgiving if all goes to plan

• By 2026 → Market structure officially becomes law

CBDC legislation, meanwhile, looks like it’ll be punted until 2026.

For now, market structure is the priority.

The Bottom Line

Crypto’s murky regulatory era is coming to an end.

After years of uncertainty, clear rules of the road are finally within reach.

And if history tells us anything… once clarity arrives, so does capital. 🚀

Where business gets interesting.

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We skip the fluff, get to the point, and bring a little personality while we’re at it.

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BITCOIN TO $1 MILLION BY 2030? 🔮

Coinbase CEO Brian Armstrong just went on A Cheeky Pint with Stripe and made one of his boldest predictions yet:

Brian Armstrong isn’t just another voice in crypto - he’s one of the most connected and informed leaders in the entire industry.

When he makes a call, the smartest investors pay attention.

And right now, he’s laying out why a $1 million Bitcoin could arrive in less than 5 years:

Why He Thinks It’s Inevitable:

• Regulatory clarity is landing in the U.S. (stablecoin legislation already passed, market structure bill next).

• The U.S. government now holds a strategic Bitcoin reserve — something that would’ve sounded crazy just 5 years ago.

• Global adoption is accelerating: Coinbase already provides crypto services to 140 government entities worldwide.

• Institutions are waiting on clarity - many hold just 1% exposure to Bitcoin, but plan to scale to 5-10% once regulations are locked in.

• Risks are shrinking: protocol flaws combed over, quantum upgrades in the works, regulatory shutdown risk fading fast.

Armstrong’s takeaway? The list of risks is shrinking, while the pool of global capital sitting on the sidelines keeps growing.

The ETFs are only the beginning.

Bottom line:

Bitcoin to $1M isn’t a matter of “if.”

It’s a countdown. And the clock is already ticking. ⏳

SUPPLY CRUNCH 🤯

Today we’ll be checking in on the amount of Ethereum available for sale on exchanges.

Here’s how to interpret this metric:

• Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂

• Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻

Just 14.97 million ETH now sits on exchanges - a tiny 12.36% of the total supply.

In the past 90 days alone, 1.57 million ETH (worth $6.86 billion) has been pulled off.

Let that sink in.

And as we touched on yesterday…

The last time exchange balances were this low, prices went from $30 to $1,500. 🤯

This is what a supply crunch looks like.

ETH is vanishing. Institutions are circling. Demand is building.

And when disappearing supply collides with rising demand…

There’s only one way this ends:

With liftoff. 🚀

CRACKING CRYPTO 🥜

US Bitcoin and Ethereum ETFs face $1 billion outflow amid market dip. US Bitcoin and Ethereum ETFs experience major outflows as experts anticipate a new wave of product approvals.

China weighs yuan-backed stablecoins in major policy shift: Reuters. China is reportedly considering allowing yuan-backed stablecoins in a major policy reversal.

Altcoin Season May Be Brewing, But Will Be More Selective, Analysts Say. BTC only mounted a modest bounce from the overnight lows, while BNB hit a new record high and ETH, SOL rebounded 6%-7%.

Nasdaq to delist BNB token treasury company Windtree Therapeutics for noncompliance. Nasdaq plans to delist BNB treasury company Windtree Therapeutics for failing to meet compliance requirements by staying above $1.

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? ✍️

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MEME CORNER 😂

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

Trivia Answer: ZK-Rollups use cryptographic proofs 🥳

ZK-Rollups bundle transactions with zero-knowledge proofs, while Optimistic Rollups assume validity unless challenged. 🧩

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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.