OVERVIEW

Hell Frozen: JPM Accepts Bitcoin ETFs As Loan Collateral 🫢

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total market and altcoin market cap charts:

BITCOIN
JPMorgan Turns Bitcoin ETF Holdings Into Yacht Financing Program 🚢

Bloomberg says JPMorgan is finally letting its rich clients get serious about crypto, announcing they'll soon offer financing against crypto ETFs like BlackRock's IBIT. 🫢 

I guess if your portfolio is crypto-loaded enough, JPMorgan’s ready to treat it just like your beachfront mansion or vintage Ferrari. 

Institutional money keeps flooding into spot Bitcoin ETFs, pulling in billions this year alone. JPMorgan isn't about to miss that train, even if its CEO still occasionally throws shade at Bitcoin.

So now, alongside traditional stocks and art, Bitcoin ETFs are going right onto the bank’s loan collateral list, effectively greenlighting crypto as a "real asset."

Clients won’t just be borrowing against crypto ETFs either. JPM’s reportedly about to start factoring crypto holdings directly into their net worth assessments, a clear nod to digital assets becoming mainstream in wealth management.

This isn't JPMorgan’s first crypto rodeo, of course. They’ve been slowly warming up, from launching their own JPM Coin to blockchain-based settlements.

Still, moving to accept crypto ETFs as collateral signals a deeper institutional pivot than ever before. ✅ 

STOCKTWITS POLL
Will The US Buy More BTC For The Strategic Reserve? 🤔 

You’ve got roughly 24 hours to let us know what you think. 🧠 

Vote and let us know what you think! 🗳️ 

NEWS
Don’t Liquidate Me Bro Update 🌊

The James Wynn live horror show continues. Nothing really happened yesterday. But today?

I’ll just share some tweets and screenshots and let them to the talking.

8:00 - 9:00 AM EST

A couple minutes later he also posts, “USDC PLEASE IF YOU WANNA SUPPORT THE CAUSE”

10:00 AM EST

Let’s see what tomorrow brings. 🗓️ 

NEWS
Guessing Tariffs, Ignoring the Future 🔮 

Larry Fink wrote an excellent op-ed recently. He says the global economy knows more about the next seven years than next week. People obsess over tariffs without answers, endlessly speculating, with markets pricing in the noise. 📰 

Globalisation's Messy Breakup

According to Fink, the backlash against "globalism without guardrails" makes sense. Global GDP soared post-1989, but Wall Street investors bagged 3,800% gains while workers saw little benefit. Now, economic nationalism - shutting borders tighter than airport security\ - isn't exactly appealing either.

Fink believes a hybrid model is the answer: open markets, but with national interests at heart. The idea is simple - capital flows back locally, benefiting communities directly. ✔️ 

Making Markets Work for Everyone

Markets historically favored the wealthy, so the key is getting regular people invested. Japan's successful Nisa retirement scheme attracted 25 million new investors. In the U.S., lawmakers propose baby bonds, giving every newborn an investment account, kickstarting financial futures.

However, getting folks investing is only half the battle. Ensuring capital stays local is tough. Europe’s bureaucratic nightmare - 27 different legal systems and over a decade just to build a power line - means people save more but invest far less.

Europe is now pushing reforms: faster permitting, less red tape, and a unified investment framework. Fink urges an EU savings and investment union to break the paralysis. 💶 

Markets alone can't fix everything; unchecked financialization worsens inequality. Fink dubs the current shift the "second draft" of globalisation, and focus is those left behind by the first round.

The question: Will this globalisation reboot deliver, or just spin another cycle of big promises and missed targets? 🤷 

NEWS
Paul Atkins: New Sheriff In An Old Town 👮‍♂️

PAul Atkins took the reins at a Senate Appropriations Subcommittee hearing yesterday (June 3), reminding everyone that the SEC’s mission is simple: ⏺️ 

• Protect investors

• Facilitate capital formation

• Keep markets fair, orderly, and efficient

Atkins pledged longer public comment periods on SEC rulemaking, promising actual consideration for how regulations stack and how they impact real businesses.

Crypto Rules Finally Coming Into Focus

Atkins hammered home the importance of establishing "rules of the road" for digital assets, acknowledging that the SEC's ambiguous stance has been kryptonite for innovation.

Under the new Crypto Task Force led by Commissioner Hester Peirce, expect fewer arbitrary lawsuits and more predictable guidelines. Four crypto-focused roundtables are already in the books, covering everything from custody to decentralized finance. 👀 

Tech Cleanup and Regional Office Drama

Atkins isn’t thrilled about recent data breaches, bluntly admitting "this situation is not acceptable." EDGAR’s recent glitch that inadvertently exposed masked data fields triggered a comprehensive tech infrastructure review.

Meanwhile, the agency’s regional offices are in leasing limbo after GSA shakeups in Los Angeles and Philadelphia. Atkins made it clear he's no fan of stuffing all SEC staff into Washington or New York - so expect these regional offices to stick around. 🏢 

The Bottom Line

Atkins’s sounded refreshingly pragmatic - cutting fluff, doubling down on clarity, and potentially thawing the regulatory chill around crypto markets.

Wouldn't that be nice for a change? 👍️ 

Full testimony can be found here.

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🤝 FLock Joins Forces with Alibaba’s Qwen to Bring Decentralized AI Mainstream

Turns out blockchain plus AI isn’t just hype,it’s big business, and China’s leading AI is officially on board. FLock just partnered with Alibaba’s Qwen, China's premier open-source AI model, to prove decentralized AI isn't just vaporware. By integrating FLock’s decentralized training model with Alibaba Cloud, they're tackling real-world problems like data privacy (which doesn’t exist in China), all while making DeAI respectable-ish. FLock.

🤖 UMA's Optimistic Truth Bot

UMA just launched its Optimistic Truth Bot, an AI-powered proposer for its Optimistic Oracle that's already hitting 95-ish% accuracy on straightforward markets (think crypto prices and sports scores). The bot’s job is proposing answers to real-world questions so humans can dispute them if necessary, meaning AI handles the boring stuff while humans tackle nuanced disputes. UMA.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🎮 OVERTAKE Beta Tests Sui-based P2P Gaming Marketplace, Ending Sketchy Game Item Trades

OVERTAKE, from the folks behind ItemBay, is beta-testing a P2P trading platform on Sui blockchain that drastically cuts fees and removes scammers from digital asset trades. Players sick of shady Discord deals can now trade characters and items safely through decentralized escrow. Low fees, instant transactions, no sketchy middlemen. Sui.

🌐 ENS Takes Blockchain Names to the United Nations

ENS recently took center stage at the UN’s WIPO event to tackle Web3 IP issues and domain name collisions. They emphasized playing nice with traditional DNS to avoid fracturing the internet, all while standing by ENS’s decentralized principles. ENS says they're prepared to fully comply with ICANN rules (and even help brands reclaim squatters' names) - proving you can be decentralized without turning into domain-name pirates. Ethereum Naming Service.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🤖 Reactive Network and QSTN Team Up

QSTN, which gamifies surveys with crypto and NFT rewards, is hooking up with Reactive Network to automate payouts. Reactive Smart Contracts now handle rewards instantly and transparently, so survey-takers actually get paid promptly, and survey makers can stop losing sleep over Excel sheets. Reactive Network.

🦊 Consensys Acquires Web3Auth

Seed phrases, your days are numbered. Consensys just snagged Web3Auth to integrate social logins and device-based authentication into MetaMask, finally ending the seed phrase anxiety that keeps crypto newbies up at night. Web3Auth also arms developers with embedded wallets and multi-chain integrations, ensuring the next billion users won’t accidentally lose their life savings because they forgot a phrase. Consensys.

🚀 dYdX Acquires Ecosystem Teams

dYdX just absorbed key Foundation teams - Marketing, BizDev, Solutions - to supercharge product launches and shorten feedback loops. dYdX realized aligning growth with engineering makes sense. Expect faster launches, tighter integration, and fewer marketing slides that promise things the engineers didn’t agree to. dYdX.

LINKS
Links That Don’t Suck 🔗

🤦 Pump.fun plans $1B token sale at $4B valuation: Sources

😱 Billionaire Ray Dalio warns of 'economic heart attack' as debt crisis escalates

🙄 Warren criticizes crypto wallet exemption in GENIUS Act

🤯 Amazon to invest $10 billion in North Carolina data centers in AI push

🤖 US engineers create self-healing robot skin that detects, seals, and resets

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