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GM to all of you nutcases. It’s Crypto Nutshell #657 sparkin’ up… ⚡🥜

We're the crypto newsletter that's more thrilling than escaping a dystopian train where class warfare never stops... 🚂⚔️

What we’ve cooked up for you today…

• 🏦 Another ETH treasury?

• 🧠 Too late? Think again

• 📉 It keeps going down

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

ANOTHER ETH TREASURY? 🏦

BREAKING: Tom Lee's Bitmine Surges 3,000% Since ETH Treasury Strategy, but Sharplink's Plunge Warrants Caution

BitMine Immersion has gone vertical.

In just five days, the stock has surged over 3,000% - fuelled by a pivot into Ethereum and a $250 million capital raise.

Take a look at the chart below…

At the centre of it all?

Fundstrat’s Tom Lee.

The CNBC regular is now BitMine’s board chair, leading the charge to transform the former mining firm into a publicly traded ETH treasury vehicle

A.K.A the Ethereum equivalent of Michael Saylor’s Strategy.

Lee’s thesis is simple:

A regulated stablecoin boom is coming.

Banks like JPMorgan and Goldman will need to stake ETH at scale.

And BitMine is racing to front-run that demand by stacking Ethereum now, while it’s still cheap.

Retail has gone full send. Shares ripped from $4.50 to $140.

On paper, it’s a breakout moment for ETH in public markets.

But not everyone’s convinced…

Just last month, Sharplink Gaming pulled the same move - rebranding as an Ethereum treasury firm and raising $450M.

The stock skyrocketed 4,000%…

Then crashed 90% once insiders were cleared to sell.

BitMine’s investors are still locked up. For now.

With just 1.4 million shares floating, the price action is explosive - and fragile.

So is this the beginning of Ethereum’s public market moment?

Or just the next parabolic pump before a painful unwind?

Either way, one thing is clear:

Ethereum has officially entered the public equity playbook. ⚡

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TOO LATE? THINK AGAIN 🧠

Fred Krueger just dropped a brutal truth bomb for every sideliner still “waiting for a dip.”

His point?

The same people who thought they “missed” Apple in 2010...

- Missed Amazon.
- Missed Nvidia.

And now? They think they’ve missed Bitcoin.

But here’s what they don’t get:

True generational assets don’t get cheaper. 📈

• They keep compounding.

• They keep surprising.

• They keep leaving you behind.

Fred’s not yelling.

He’s not begging.

He’s just pointing to the scoreboard. ☝️

And if you’re still “waiting for the perfect entry”?

You’re not a value investor.

You’re a procrastinator. 🪞

IT KEEPS GOING DOWN 📉

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 🐻

There are now just 2,883,304 BTC left on exchanges - that’s a mere 14.5% of the total supply.

In plain English?

The shelves are almost empty.

Since the start of the year, exchange balances have dropped by over 195,000 BTC - that’s more than $21 billion quietly withdrawn from circulation.

Bitcoin’s liquid supply is vanishing.

Meanwhile, demand is ramping up - and the market isn’t waiting around.

The signs are clear: smart money is accumulating, exchange wallets are bleeding out, and when supply runs dry, price doesn’t sit still.

This isn’t a future setup.

It’s already in motion.

CRACKING CRYPTO 🥜

Ripple’s new Swiss banking deal unlocks a European corridor in stablecoin wars. AMINA Bank's strategic partnership with Ripple secures a regulatory foundation for RLUSD in Europe.

US Senator Cynthia Lummis drafts standalone crypto tax bill. Wyoming Senator Cynthia Lummis drafted a bill proposal on Thursday to create much-needed tax reform for cryptocurrencies in the United States.

Grayscale 'remains committed' to pursuing conversion of crypto ETF following SEC's pause. Following the SEC's decision to put a pause on a Grayscale ETF, a spokesperson for the company says it "remains committed" to trying to list.

IMF Turns Down Pakistan’s Proposal to Subsidize Power for BTC Mining. Secretary of Power Dr. Fakhray Alam Irfan said that the IMF was concerned about market distortions.

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 may be fun-sized compared to Bitcoin, but it was built as a serious payment-focused altcoin — not a meme. The others? Total meme DNA. 🐶💥

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HOW DID WE DO? 🤷

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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.