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🥜 Crypto's iPhone moment
PLUS: SEC announces "Project Crypto"
GM to all of you nutcases. It’s Crypto Nutshell #677 settin’ the charge… 💣🥜
We're the crypto newsletter that's more chaotic than two cops navigating explosions, car chases, and constant banter... 🚓💥
What we’ve cooked up for you today…
🏦 Project Crypto
📱 Crypto’s iPhone moment is here
🚂 Still dropping
💰 And more…
Prices as at 3:10am ET
PROJECT CRYPTO 🏦
BREAKING: US SEC rolls out ‘Project Crypto’ to rewrite rules for digital assets
Following yesterday’s White House Crypto Report…
SEC Chair Paul Atkins stepped up and unveiled “Project Crypto” - a sweeping plan to modernise securities law and make the U.S. the global leader in digital assets.
And if you think this is just more empty regulatory chatter… think again.
Despite what the SEC has said in the past, most crypto assets are not securities… But confusion over the application of the 'Howey test' has led some innovators to prophylactically treat all crypto assets as such."
Under Project Crypto, the SEC will:
Creating new exemptions and safe harbours for ICOs, airdrops, and network rewards
Drafting fresh rules for crypto custody, staking, and trading
Supporting self-custody rights and the development of crypto super-apps
Introducing a new category for DeFi, protecting developers and code publishers
Exploring how crypto asset investment contracts could trade on unlicensed platforms
This isn’t a tweak. It’s a total reversal from the Gensler era.
“I would like the world to go on notice that under my leadership, the SEC will not stand idly by and watch innovations develop overseas while our capital markets remain stagnant.”
The goal?
Bring home the crypto companies pushed out by Operation Chokepoint 2.0 and end the era of regulation-by-enforcement.
“The Commission must revamp its rulebook so that regulatory moats do not hinder progress and competition, from both new entrants and incumbents, to the detriment of Main Street.”
The SEC isn’t just reacting.
It’s rewriting the playbook - and this time, crypto’s got a seat at the table. 🔥
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CRYPTO’S IPHONE MOMENT IS HERE 📱
Hunter Horsley is the CEO of Bitwise - the firm behind one of the largest Bitcoin ETFs in the world.
He talks to Wall Street every day.
He sees where the money is moving.
And right now?
He’s sounding the alarm.
Crypto’s iPhone moment is here.
Back in 2007, Apple dropped the iPhone.
Within a few years?
Every business had a mobile app.
Hunter says the same thing is about to happen - but with stablecoins:
You know what that means?
Institutions will be using stablecoins... on Ethereum rails.
And every payment?
Creates fresh demand for ETH.
Stablecoins are the Trojan Horse of crypto adoption.
They sneak in quietly.
Then unlock everything.
This isn’t just tech evolution.
It’s the early stages of a demand supercycle.
Ethereum might not pop overnight.
But when trillions start moving on-chain?
The price won’t stay still. 💸
STILL DROPPING 🤯
Today we’ll be taking a look at the amount of Bitcoin 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 🐻
Only 2,865,002 BTC remain on exchanges - just 14.40% of the entire supply.
Put simply?
The shelves are nearly empty.
Since January, roughly 213,564 BTC have been quietly pulled off exchanges - that’s $24.8 billion worth of Bitcoin taken out of circulation.
All while Bitcoin hovers near its all-time highs.
This isn’t retail.
This is smart money scooping up supply before the next leg up.
And if history is any guide, there’s only one direction prices go when liquidity vanishes:
Up. Fast.
CRACKING CRYPTO 🥜
PumpSwap captures 74% of Solana DEX volume as memecoins surge. Solana’s latest DEX data shows pumpswap now processes 74% of all volume, overtaking Raydium thanks to its focus on memecoins.
Ether, a ‘90s tech stock’ ends July with biggest gain in 3 years. Ethereum has witnessed a surge of more than 55% this month. This is the first time in three years that ETH has given a return of 50% or more in a single month.
Bitcoin Likely Break Lower as Seasonal Headwinds Loom, Says Analyst. Bitcoin could break down to potential support levels at $112,000 and $106,000–$110,000 during a likely consolidation phase, the report said.
Coinbase reports data theft cost $307 million as spot volumes and revenue dip in Q2. Compared to last year's quarter, Coinbase's total revenue came in relatively flat while net income jumped considerably.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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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”)
Why is Bitcoin’s maximum supply limited to 21 million? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: To create digital scarcity and prevent inflation 🥳
Bitcoin’s 21 million cap is hardcoded to ensure digital scarcity — making it deflationary by design and resistant to the money-printing habits of fiat systems. 🔐💰
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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.
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