GM to all of you nutcases. It’s Crypto Nutshell #881 truckin‘ on by…🚛🥜

We're the crypto newsletter that's more prescient than a desert heir reading the wormsign before the sand starts moving… 🏜️👁️

What we’ve cooked up for you today…

What’s in the Crypto Nutshell Portfolio?

BREAKING: US senators file over 100 amendments to crypto bill ahead of markup

Yesterday, we said the CLARITY Act draft was finally here.

Today, the fight over it properly began…

Senate Banking members have now filed more than 100 amendments before Thursday's markup.

That sounds messy.

And it is.

But it's also progress.

Because crypto is no longer stuck arguing over vague promises, press releases, and campaign lines. Lawmakers are now fighting over actual bill text.

That's a very different stage of the game.

The big questions are still the same ones that matter most for crypto.

Can stablecoin companies offer rewards without turning payment tokens into shadow bank accounts?

How much protection should software developers get if they're just writing code?

Where should the line sit between the SEC and CFTC?

And can the bill get enough Democratic support to move beyond committee?

That last part is arguably the most important…

Yesterday's draft made the direction clearer. Today's amendment flood shows how hard the final version will be.

Some lawmakers want tougher ethics language. Some want more protection for developers. Some want changes around sanctions, stablecoins, and whether financial institutions can work more directly with crypto.

So no, this isn't a clean victory lap yet.

But it is the kind of messy progress crypto has been asking for.

If this bill survives the amendment fight, crypto gets one step closer to something it’s wanted for years:

A rulebook it can actually build around. 🚀

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The Definitive Guide to Retirement Income walks you through the questions that matter: what things will cost, where the money comes from, and how to keep your portfolio aligned with your long-term goals.

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Tom Lee just put hard numbers on the table at Consensus 2026.

In an on-camera interview, the Fundstrat founder and BitMine chairman gave the cleanest, sharpest year-end forecast we've heard from him yet.

That's not a base case. That's where he sees prices ending 2026.

Why? Because crypto winter is over. He said it directly. The accumulation phase is wrapping up and the next leg is starting now.

The interviewer also pushed him hard on BitMine. Billions in unrealized losses. Heavy shareholder fatigue. Did he ever have private moments of doubt about the Ethereum bet?

His answer was pure conviction.

30 years on Wall Street. Billions on the line. And not flinching.

He sees the same thing the institutions see. Tokenization. AI agents. Global settlement.

All running on Ethereum. All being priced in slow motion right now.

The lows are in. The targets are set.

And one of the most accurate macro voices on Wall Street is doubling down. 🧙‍♂️

Today we're looking at BTC Risk - a simple way to gauge where we are in the cycle.

BTC Risk compresses years of price action into a number between 0 and 1:

It doesn't call exact tops or bottoms. It shows you when risk-reward is tilted in your favour.

Current BTC Risk: 0.392 (Two weeks ago: 0.369)

Pushing toward the 0.4 level now.

Four consecutive increases. From the 0.303 floor to 0.392 - that's a steady, sustained climb out of deep discount territory.

But here's the nuance. At 0.392, we're still below the 0.5 midpoint. Still in the zone that historically favours buyers. The metric is rising, but it hasn't flipped into overheated territory - not even close.

Think of it as the transition phase. The generational discount window around 0.3 has passed. The neutral zone above 0.5 hasn't arrived yet.

We're in the middle ground where risk is being repriced but hasn't fully caught up to the improving fundamentals. 📊

DTCC to use Chainlink to power 24/7 collateral management network. DTCC plans to integrate Chainlink into a tokenized collateral platform targeting a Q4 2026 launch.

Major Solana Upgrade Alpenglow Begins Testing Ahead of Full Rollout. Solana’s Alpenglow upgrade moved into community test-cluster testing ahead of a later mainnet rollout.

Bitcoin Ordinals explorer Ord.io to shut down alongside trading app Zap. The Ordinals browser and related consumer app are set to close June 1 after the founder cited financial constraints.

Bitmine slows Ethereum buys, targets December to own 5% of supply. Tom Lee’s Ether treasury company slowed weekly buying but kept its 5% ETH-supply target.

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

Trivia Answer: An online organization governed by code, tokens, and member voting 🥳

A DAO, or decentralized autonomous organization, uses blockchain tools to coordinate decisions and treasury management. Token holders or members usually vote on proposals.

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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.