GM to all of you nutcases. It’s Crypto Nutshell #958 bringin‘ the news… 🥜

We're the crypto newsletter that's more committed to the bit than a paper-company boss who thinks declaring bankruptcy just means shouting the word out loud… 📄🖨️

What we’ve cooked up for you today…

What’s in the Crypto Nutshell Portfolio?

BREAKING: Better launches Bitcoin-backed mortgages powered by Coinbase

All week the market's argued about whether to sell Bitcoin near $80,000.

Better and Coinbase just built a product for the people who won't.

They've made a Bitcoin-backed mortgage generally available to Coinbase One members.

You pledge your Bitcoin as collateral for the down payment instead of selling it, structured to fit inside Fannie Mae's conforming rules, the same plumbing behind most American home loans.

Better has funded more than $110 billion in home loans, so Bitcoin collateral now sits inside a mainstream mortgage lender.

The structure is two loans with one payment: a normal Fannie Mae home loan, plus a down-payment loan secured by your Bitcoin.

To take it you pledge Bitcoin worth at least 250% of that down-payment loan, and it sits in custody at Coinbase Prime until you've repaid or refinanced.

A falling price on its own won't margin-call you.

Better only sells the collateral if you fall 60 days behind on the mortgage itself.

If you believe in the coins the appeal is obvious.

You keep the upside, and you skip the tax bill that selling to fund a deposit would trigger.

And the demand is already there…

41% of Better's pre-approved customers can afford the loan but lack the cash for a down payment, and more of them now hold that cash in Bitcoin.

More than $260 million in loans was waitlisted before it opened.

Every serious asset eventually becomes something you borrow against instead of sell.

Bitcoin just got its mortgage. 🚀

So, would you actually do it? Let's hear what you have to say… 👇

Clint Brauer grew up on his family's Kansas farm. His dad sprayed the same chemicals every American farmer sprays. Years later: Parkinson's. Clint walked away from a tech career to build a different way. Today his company, Greenfield Robotics, runs a patented fleet of autonomous bots that slice weeds with centimeter precision, day or night, herbicide-free. 

Greenfield is now opening shares to everyday investors under Reg A+. Reserve during Test the Waters and you lock in a 5% bonus that can grow to 20% the week the round goes live. The US has 250 million acres at stake.

Get Bonus Shares

_{Greenfield Robotics is Testing The Waters under tier 2 of Regulation A. No money or other consideration is being solicited, and if sent in response will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement filed by the company with the SEC has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification. An indication of interest involves no obligation or commitment of any kind. “Reserving” shares is simply an indication of interest. There is no binding commitment for investors that reserve shares in this manner to ultimately invest and purchase the shares reserved of the company, or to purchase any shares of the company whatsoever.}

Lyn Alden is watching Washington try to quiet the bond market and get the opposite instead.

Alden is the founder of Lyn Alden Investment Strategy and one of the most respected macro analysts working today.

Here's what she posted:

Treasury Secretary Scott Bessent has been leaning on the long end of the bond market, the government's long-term borrowing cost, trying to talk it lower.

The Streisand effect is when trying to bury something only makes people look harder.

Alden's read is that the bond market was behaving fine, and it's Bessent's own unscheduled interventions pulling the attention.

Even his former boss Stanley Druckenmiller took to the Wall Street Journal to say so.

A Treasury this anxious to keep its own debt cheap is the definition of fiscal dominance, where funding the deficit outranks letting rates find their level.

That's the regime where real yields get pinned down and the debt gets inflated away slowly, and it's the backdrop scarce, non-sovereign assets like gold and Bitcoin were built for.

The Fed gathers at Jackson Hole this week, Kevin Warsh's first as chair, and the open question is whether it plays along with cheaper money.

Bitcoin's up around 21% on the month to near $79,000, and this backdrop is a big reason the bid has held.

The louder they insist the bond market is fine, the more you want the asset they can't talk down. 📢

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

Here’s how to interpret this metric:

15.06 million ETH on exchanges. Down from 15.12 million two weeks ago.

Another new low, another gentler step.

Roughly 60,000 ETH left exchanges this fortnight, down from 90,000 the period before and 190,000 the one before that.

The drain is clearly losing pace, shrinking to under a third of what walked two fortnights ago, yet it still keeps carving fresh lows.

Less ETH on exchanges means less supply sitting ready to sell, and each new low tightens the tradeable float another notch.

The year-long staircase still frames it, from north of 21 million last August to 15.06 million now, better than a quarter of the exchange float gone in a year.

The outflow is running down, but it hasn’t turned. 🐳

Revolut Launches Euro-Pegged EURR Stablecoin. EURR has gone live for select customers in Denmark, Poland and Portugal, with a Luxembourg subsidiary of Stripe holding the reserves.

Dallas Fed warns tokenized deposits could strip $700 billion from U.S. banks' lending capacity. Researchers warned faster, rate-sensitive deposits could push banks into safer assets, constraining lending and raising borrowing costs.

Chainalysis estimates $457B in taxable crypto activity, says CARF misses most. The firm found only about 14% of the onchain activity it identified is covered by the OECD's crypto tax-reporting framework.

SEC sends crypto custody rule changes to White House for review. The proposal would clarify how investment advisers and funds hold client digital assets and now awaits White House review before publication.

Want to get even smarter? Check these out.

p.s. all completely FREE (one click subscribe link)

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: The number miners adjust to find a valid block hash 🥳

Miners repeatedly change the nonce and re-hash the block until the result meets the network's difficulty target.

Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.

Get in touch today.😎

We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)

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.