The Wolf Of All Streets

Bitcoin is teetering near $72,000 as the Iran war heats back up, with Trump claiming Tehran "really wants" a deal while air strikes resumed over the weekend near the Strait of Hormuz, sending Brent crude up 3.7% to $94.48 and WTI surging 4.3% to $91.07. A tentative 60 day memorandum of understanding would reopen the Hormuz chokepoint with unrestricted shipping and require Iran to clear all mines within 30 days, but the deal still awaits Trump's final approval and Iran's response. Meanwhile Coinbase is launching direct rupee rails in India on June 1 to attack the $3 billion local crypto market, Fed Governor Christopher Waller declared dollar stablecoins could expand the reach of U.S. monetary policy globally, and Jamie Dimon just vowed JPMorgan and the banking lobby will fight the CLARITY Act over stablecoin yield. Plus Michael Burry dropped a bombshell calling the Nvidia, xAI, Apollo, Athene structure "Fugazi", alleging $5.4 billion in GPUs are hidden off balance sheets while American retirees unknowingly hold $103 billion in Level 3 assets at 16x leverage inside a Bermuda insurance shell. We are breaking down whether Bitcoin can survive another Hormuz spike, what Waller's stablecoin endorsement means for the dollar, and why Burry's warning could be the most dangerous story nobody is talking about.

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Matt Cole managed a $70 billion Treasury portfolio, had direct access to the Fed and Treasury during QE, called them out for lying about debt monetization to their faces, and then put his entire net worth into Bitcoin. Now as CEO of Strive, he's building what he believes will become a multi-trillion dollar market in digital credit - products like SEDA and STRC that survived a 50% Bitcoin crash with barely a scratch. In this conversation, he breaks down why preferred equity beats convertible debt, how institutions actually want more volatility not less, why most Bitcoin treasury companies launched with no plan and are already selling, and the coming wave of consolidation that will separate the true believers from the tourists.
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On Halloween 2008, while the global financial system was collapsing and banks were getting bailed out with taxpayer money, an anonymous figure posted a nine-page paper that would change everything. Two months later, Satoshi Nakamoto mined the first Bitcoin block and buried a newspaper headline inside it about bank bailouts - a permanent message encoded forever on every node on Earth. Then he mined over a million Bitcoin, watched it become worth over $100 billion, and never touched a single coin. This is the real origin story of Bitcoin, told the way it deserves to be told.
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In this episode, the crew discusses Bitcoin’s current consolidation and MicroStrategy’s recent wallet movements, while debating whether we’re in a prolonged bear phase or setting up for the next leg up. Key highlights include the NYSE CEO calling Hyperliquid bigger than NASDAQ, CFTC approvals for the first regulated Bitcoin perps on Kalshi and Coinbase’s Deribit access, CME launching 24/7 crypto futures, and Paxos winning SEC approval for on-chain U.S. stock settlement. The conversation also covers AI’s impact on markets, liquidity rotation into big IPOs like SpaceX, altcoin consolidation, and the long-term fusion of crypto with traditional finance. Bullish developments vs. near-term caution — a must-listen Friday roundup.
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Bitcoin just cratered to a six week low below $73,000 as fresh U.S. airstrikes on Iran reignited Strait of Hormuz war fears, triggering $897 million in long liquidations and the second largest daily IBIT outflow on record at $528 million. The pain is everywhere right now. Fund manager Michael Kramer is warning a $150 billion Treasury liquidity drain over the next week could send BTC much lower, while CME finally killed the famous weekend gap by launching 24/7 futures trading. Meanwhile, Iran is calling negotiations a strategic deadlock, the CFTC made a stunning admission that the Gemini case never should have been filed, the FBI just seized a record $8 billion in Bitcoin from a Cambodian scam compound, and Paxos became the first blockchain native firm approved by the SEC to clear and settle U.S. securities on chain. Plus a single enterprise client racked up a $500 million Claude bill in 30 days with no usage limits. We are breaking down whether Bitcoin defends $72K or rolls over to new lows, what the Hormuz escalation means for risk assets, and why this could be the most consequential 24 hours of the entire cycle.

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