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It is a brutal morning, fam. $BTC ( ▼ 7.21% ) has been down to $61.3K, marking a nearly 30% drop since the start of 2026. $ETH ( ▼ 6.76% ) is faring even worse, down 45% year-to-date. The liquidations are staggering: over $1.8B in Long positions wiped out in just 4 days. Even Michael Saylor is currently underwater by a massive $11.5B.

The U.S. House passed a war powers resolution regarding Iran, though it faces a steep path through the Senate and a likely presidential veto. Cash is king right now, if you are holding stablecoins, you are in the driver's seat.

Here’s what we got for you today:

  • 👀 Liquidity trap: what the headlines are hiding

  • ⭐ Tom Lee bets $ETH at $250K

  • ⭐ Coinbase, SpaceX & Meta freeze $3.8M in crypto scams

  • 🔥 Burning hot takes for the road

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Most traders are glued to daily price swings, AI narratives, and the latest Fed speeches. The market looks strong on the surface. But the real game happening underneath is all about liquidity. When liquidity is high, the market easily absorbs bad news. When the money dries up, a minor pullback triggers a massive liquidation cascade.

Our latest report breaks down what is actually driving capital in 2026:

  • The flow of money predicts drops in $BTC ( ▼ 7.21% ), $ETH ( ▼ 6.76% ), and stocks long before the news reports them.

  • Oil shortages and Middle East tensions are not just energy problems. They pull liquidity straight out of the global market.

  • Learn how massive upcoming IPOs (SpaceX, OpenAI) act as "liquidity vacuums," forcing index funds to dump current holdings to make room for new tech giants.

By the time the average trader realizes the "well" has run dry, the sell-off is usually already in full swing. 👇

🚀 TOM LEE SEES $ETH HITTING $250K AS AI & TOKENIZATION DRIVE DEMAND

While the market is bleeding, Tom Lee - BitMine Chairman and Fundstrat co-founder -dropped a massive long-term forecast: he sees Ethereum ($ETH ( ▼ 6.76% )) hitting $250,000. That is a 50x leap from current levels, and he believes the catalyst isn't just retail hype, but a fundamental shift in global financial infrastructure.

1/ The thesis: machine-to-machine money

Lee argues that we are entering a "machine-to-machine" economy. As autonomous AI agents take over more internet traffic, they need a settlement layer that works instantly - something legacy banking rails simply cannot provide.

  • The AI layer: Ethereum is positioned to become the default currency for AI agents to purchase computing power.

  • Real-world tokenization: Layering tokenized assets on top of Ethereum will push the network's total value into the trillions of dollars, moving it from a speculative asset to critical global infrastructure.

2/ Why the bearishness is a signal

$ETH ( ▼ 6.76% ) recently fell below $2,000 following a massive $2.43 billion outflow from U.S. spot Ethereum ETFs in May. With short positions dominating and futures open interest at record highs, sentiment is officially "gloom" mode.

But Lee’s take? "If you are bearish today, you are selling at the bottom.". He argues that the extreme pessimism is the strongest signal that we are near the local floor for both $BTC ( ▼ 7.21% ) and $ETH ( ▼ 6.76% ).

3. The corporate takeover of validators

There is a major governance shift happening that most people are sleeping on: the Ethereum Foundation is effectively stepping back, holding only about 0.1% of the total supply.

Corporate validators are filling that vacuum. BitMine alone now holds nearly 5.4 million $ETH ( ▼ 6.76% ). BitMine qualifies for Russell 1000 inclusion on June 26. This move forces benchmarked fund managers to take a hard look at holding these treasury-heavy companies, essentially creating a "proxy" way to get massive $ETH ( ▼ 6.76% ) exposure through the stock market.

Source: CoinGecko

🧠 Is $250K realistic?

Lee’s betting that $ETH becomes the backbone of the next generation of automated corporate and AI finance. If you view $ETH as just a "token," the math doesn't make sense. But if you view it as the settlement layer for the trillion-dollar AI agent economy, the valuation paradigm changes completely.

Keep an eye on the June 26 Russell 1000 inclusion; if institutional flows into BitMine ramp up, it could act as a massive structural floor for the price of $ETH ( ▼ 6.76% ).

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💥 COINBASE, SPACEX, META JOIN DOJ OPERATION FREEZING $3.8M IN CRYPTO SCAMS

Big news for the industry’s reputation: Coinbase just stepped up in a major way, freezing over $3 million in crypto assets linked directly to predatory Southeast Asian scam networks. This was part of the DOJ’s "Disruption Week," a high-level coordination between federal agencies, tech giants, and international law enforcement to take down the infrastructure behind massive investment scams.

1/ The "Disruption Week" power play

The DOJ's Scam Center Strike Force brought together an absolute "who’s who" of tech and security. We’re talking Apple, Coinbase, Google, Meta, Microsoft, Silent Push, SpaceX, TRM Labs, and Zenlayer, all feeding intel to the FBI, Secret Service, and Homeland Security to choke off the accounts that have been draining retail savings for years.

The results are staggering:

  • Over 1.4 million social media and email accounts were nuked.

  • A total of $3.8 million in illicit funds were frozen across industry partners.

  • Authorities identified scam platforms and the Royal Thai Police arrested seven scammers in Thailand as part of a total of 63 arrests. They even terminated thousands of Starlink kits and decommissioned servers and hosting infrastructure linked to these compounds.

Source: U.S. Department of Justice

2/ Why this matters for your bags

There’s a persistent, annoying narrative that crypto is just a playground for criminals. Coinbase is using this operation to push back hard against that, arguing that the public ledger is actually a superpower for law enforcement, not a liability.

Unlike traditional "opaque" banking, the blockchain leaves a permanent, traceable fingerprint. By cutting off the financial flows in real-time, the exchange is showing how crypto can be used as a legitimate tool for justice rather than a hiding spot for bad actors.

🧠 The "cleansing" of crypto

I know a lot of us are protective of our privacy, but this is a massive "W" for the industry. Scams (especially those "pig butchering" style networks operating out of compounds in Cambodia, Laos, and Burma) are the biggest source of FUD (Fear, Uncertainty, and Doubt) that keeps institutional money and retail normies from jumping into the ecosystem.

With FBI data showing crypto investment fraud losses rose 24% to over $7.2 billion in 2025, these operations are becoming a top priority for the feds. The message is loud and clear: the "Wild West" days for these scam compounds are ending.

If you’re a builder or a long-term hodler, this cleaning of the house is exactly what we need to build a cleaner, more legitimate foundation for the next bull cycle. They’re making the space safer for the rest of us.

🔥 BURNING HOT TAKES FOR THE ROAD

Bitmine is planning a $300M capital raise to buy more $ETH ( ▼ 6.76% ), despite its treasury showing unrealized losses of $9.2B. Read more

World cup crypto scams spike ahead of 2026: fake FIFA sites, tickets, crypto payments, and themed memecoins. Read more

Coinbase’s x402 protocol hit 100 million transactions on Base in nine months, a key milestone for AI-automated payments. Read more

$BTC ( ▼ 7.21% ) edges closer to cycle lows, according to CryptoQuant, hinting at a potential buying opportunity for traders eyeing long-term positions. Read more

SpaceX targets a $75 billion IPO valuation, though analysts warn its true market value may be half that. Read more

🤡 SPICY MEME

Michael Saylor: ₿ack to Work

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⚠ This newsletter is for informational purposes only and should not be considered investment advice. Traders should conduct thorough research, understand the risks, and carefully evaluate their decisions before investing in cryptocurrency.

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