Today’s edition is brought to you by Coinbase - the easiest way to purchase crypto.

GM to all of you nutcases. It’s Crypto Nutshell #667 puttin’ out flames… 🧯🥜

We're the crypto newsletter that's more adventurous than diving into the subconscious of a video game designer gone rogue... 🎮🧠

What we’ve cooked up for you today…

• 🏦 Genius

• 🚂 $200k Bitcoin by end of year

• 🤯 Exchange exodus

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

GENIUS 🏦

BREAKING: US House votes on crypto legislation, sending stablecoin GENIUS act to Trump's desk, Clarity to Senate

Crypto just made history.

After a chaotic week on Capitol Hill, U.S. lawmakers have officially passed the first major piece of crypto legislation:

The GENIUS Act, a stablecoin bill that now heads to President Trump’s desk for signature.

And the vote wasn’t even close.

The House approved the bill 308–122, with strong bipartisan support.

The GENIUS Act had already cleared the Senate with a 68–30 vote, meaning all that’s left is Trump’s pen - and a White House signing ceremony is already locked in for today.

The bill sets clear rules for stablecoin issuers:

• Full dollar backing

• Annual audits

• Restrictions on foreign issuers

Industry leaders are calling it a “historic achievement” that legitimises stablecoins as the crucial bridge between crypto and traditional finance.

And that wasn’t all…

The House also passed the CLARITY Act - a broader crypto market structure bill that aims to regulate the rest of the industry.

While this one still needs to pass the Senate (which is working on its own version), the 294–134 House vote - including 78 Democrats - was stronger than expected.

Even an anti–CBDC bill got through, albeit along party lines, and will now be attached to the annual defence bill.

Despite early drama - including rebellion from hardline Republicans and outrage over Trump’s personal crypto interests - “Crypto Week” ended in victory.

The U.S. is finally moving from policy paralysis to real legislation.

CRYPTO MADE SIMPLE 🤑 

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$200K BITCOIN BY END OF YEAR 🚂 

Fred Krueger just cranked the dial to full bull.

The ex-hedge fund quant and longtime Bitcoin investor now says:

What changed?

Retail FOMO has arrived.

Fred reposted Matt Hougan’s data showing that last week saw the second biggest ETF inflow day in Bitcoin history - over $1.18 billion in a single day:

Matt Hougan & Bitwise predict that 2025 ETF flows will crush 2024’s totals.

Fred agrees - and thinks that a massive re-pricing is now on the table.

Fred's a veteran quant who’s backed Bitcoin since its early days.

He’s made a career out of being right - calling key turning points with data-backed conviction.

If he’s right now?

We’re not ready for how fast $200k could come.

Full steam ahead. 🚂

EXCHANGE EXODUS 🤯

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 2,903,548 BTC remain on exchanges - just 14.60% of the entire supply.

Put simply?

The shelves are nearly empty.

Since January, over 175,000 BTC have been quietly pulled off exchanges - that’s $21 billion worth of Bitcoin taken out of circulation.

And it’s not happening in a downtrend…

It’s happening while Bitcoin hits new all-time highs.

Smart money is moving fast. Exchange balances are draining. And history tells us what comes next:

When supply gets tight…

Prices don’t sit still.

CRACKING CRYPTO 🥜

US Marshalls 'forfeited' Bitcoin stash may be $20B smaller than estimated, raising eyebrows about reserve. Senator Lummis shocked US Marshalls may hold just 29,000 BTC, sparking speculation over Bitcoin holdings.

Bitcoin-backed mortgages debut in Australia amid housing crisis. Block Earner debuts Australia’s first Bitcoin-backed home loan, offering crypto holders a new path to property ownership as the country faces soaring housing costs.

COIN, HOOD, CRCL, GLXY Gain as U.S. House Passes Crypto Legislation. Crypto-linked stocks climbed higher on Thursday bolstered by investor optimism on stablecoin and crypto market structure bills advancing.

Trump administration supports de mininis tax exemption for crypto, will continue to 'explore legislative solutions'. Current U.S. IRS rules state individuals must report cryptocurrency transactions regardless if they result in a capital gain or loss.

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”)

MEME CORNER 😂

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

Trivia Answer: Litecoin 🥳

Litecoin, created by Charlie Lee, aimed for faster block times and cheaper transactions, branding itself as the “silver to Bitcoin’s gold.” ⚡🪙

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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.