GM to all of you nutcases. It’s Crypto Nutshell #944 bringin‘ the news… 🥜

We're the crypto newsletter that's more comeback-ready than a masked swordsman saving his best line for the six-fingered man… ⚔️🖐️

What we’ve cooked up for you today…

What’s in the Crypto Nutshell Portfolio?

BREAKING: Senate won't vote on crypto Clarity Act before its summer break

The deadline the whole crypto industry has been counting toward arrived this week.

And the bill didn't make it…

The Senate won't vote on the CLARITY Act before it leaves for the summer.

Senate majority leader John Thune confirmed it, and put the bill first in line for the return, "getting that queued up first thing when we come back."

CLARITY is the law that would give crypto its first real federal rulebook, splitting oversight between the SEC and the CFTC.

It's been stuck at the doorstep for weeks.

What's holding it up is the same single clause it's been stuck on the whole time.

The bill would bar senior officials, the president included, from backing crypto projects while in office, and Trump disclosed more than a billion dollars of crypto earnings last year.

Republicans rewrote that ethics language, and Democrats called it unserious and won't back the current text.

Underneath the politics, the bill needs 60 votes, and right now it isn't clear it has 50.

So on its last day before recess the Senate votes on government funding, Russia sanctions and a stack of nominations instead.

The whole market was watching this one, and Bitcoin didn't move on it, still sitting near $64,000.

Until Congress acts, the SEC keeps writing crypto's rules through its own rulemaking, the kind a later administration can reverse.

Back in July the worry was that missing this window pushed the whole bill into 2027.

September beats that.

But it's a three-week window, wedged between a government funding fight and the midterm clock, with the same ethics clause still sitting in the middle of it. 🚀

Something is being built inside Tesla's facilities that almost no one is talking about — yet.

According to insider sources, Elon Musk has quietly developed a breakthrough product he claims will be "10x bigger than the largest product in history." The target launch date is July 22. And when it drops, the window to position quietly will already be closing.

Most investors will hear about this after the stock has moved. You don't have to be one of them. Our analyst named 3 stocks positioned to ride the launch — with entry guidance, price targets, a bonus 4th supply-chain pick, and a 3-phase playbook for when to buy, add, and take profits.

See the 3 stocks now.

Raoul Pal just wrote the most useful thing anyone has posted about surviving this drawdown.

Pal is a former Goldman Sachs macro trader and founder of Real Vision.

Here's what he posted:

His starting point is acceptance, not prediction.

Then the pivot that matters.

That's the whole thing. The volatility isn't the problem, not knowing what you hold is. Own a small handful of networks with real, provable long-term value and genuine adoption, and something changes.

Because they're the entry price. The moments when everyone else hands their position to someone with more conviction.

His view of the endgame is bigger still. He thinks these networks become the pension for an entire generation. And you don't trade your way there. You build a thesis, you accumulate, you hold something back for the big sell-offs, and you let time and adoption do the work.

Which is exactly the lesson he paid 8 figures to learn.

Stop flinching. 🎟️

Today we’ll be taking a look at the amount of wallets that hold at least some Bitcoin. (anything greater than 0)

This metric offers a bird’s-eye view of user activity and adoption across the Bitcoin network.

But there’s a slight catch…

One wallet does not equal one user. A user can have many wallets.

What matters here is the trend of the chart.

59,514,116 wallets now hold Bitcoin. That's 161,667 more than two weeks ago (59,352,449).

A record, and the pace came roaring back.

Last edition the holder base added just 38,000, its slowest step in a while, and we wondered aloud if the run was tiring.

This fortnight answers it, 162,000 new wallets, right back in line with the 150,000-plus we were printing before the wobble.

The base has cleared 59.5 million too, another marker down.

Next up is the round 60 million, roughly 486,000 wallets out, about three prints away if this pace holds.

More people own Bitcoin than ever, and last fortnight's slowdown didn't stick. 🔥

MetaMask Launches Self-Custodial AI Wallet for Autonomous Crypto Trading. The Agent Wallet lets AI agents execute onchain trades within user-defined limits while users retain self-custody.

Power struggle erupts at Ondo Finance after founder’s death. Three Delaware court filings reveal a battle for control of the tokenization company after Nathan Allman’s death.

Bitcoin miners’ AI pivot loses Wall Street’s wow factor. AI contracts are growing, but investors increasingly want execution rather than rewarding every mining-to-AI announcement.

Wintermute registers as SEC broker-dealer to trade stocks, options and crypto ETFs. Its New York subsidiary is now registered with the SEC and FINRA.

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Trivia Answer: Coinbase 🥳

Coinbase listed on Nasdaq through a direct listing in April 2021, becoming the first major U.S. crypto exchange to enter the public markets.

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