“What Happened in Vegas!”

Hi There! Last week I found myself right in the middle of the Bitcoin 2025 Conference in Las Vegas. Listen, you know the saying: what happens in Vegas stays in Vegas, right? Well… not this time.

The energy was magnetic. Everywhere I turned there was someone building something bold, breaking down old narratives, and imagining new futures. As an educator in the crypto space, and someone who genuinely wants our people to thrive, I couldn’t just soak it all in and stay quiet. I have to share this with you.

With over 35,000 people in attendance, this conference was a statement. Billionaires, creators, policymakers, and everyday folks like you and me were all under one roof at the Venetian, plotting what comes next for Bitcoin. From Vice President JD Vance’s historic Bitcoin endorsement, to Michael Saylor’s 21 ways to wealth, and Jack Mallers’ unveiling wild innovations like digit-level interest Bitcoin loans….it was a lot to digest. Some folks even debated if meme coins tied to politicians were good or just gimmicks. Speakers/Panelists tackled everything from stablecoin policy to tax strategies for miners.

GameStop, PSG, and Rumble are all adding Bitcoin to their balance sheets. Yes, that GameStop.

But more than anything, what struck me was how much education is still needed. Bitcoin is powerful, but power without knowledge leaves too many behind. So, over the next few weeks I’ll be rolling out special issues to spotlight the tech, the teams, and the truth behind the hype. You’ll get 411 I gathered firsthand, straight from the source.

If you’ve ever wondered what crypto really means for your money, your business, or your future, stay locked in.

Alright, let’s dig in!

U.S. Markets Recap (May 25 - May 31, 2025)

Last week Wall Street inched forward, finishing May on a high note, but not without turbulence. Stocks logged modest gains amid volatile trade headlines, mixed economic signals, and a market still digesting artificial intelligence tailwinds and tariff shocks. The S&P 500 wrapped up its best month since 2023, buoyed by NVIDIA’s blowout earnings, a temporary EU tariff reprieve, and lower Treasury yields. Renewed tensions with China and retail warnings on the cost of tariffs kept gains in check.

Equities:

U.S. stocks rebounded from a four-day losing streak after Memorial Day, riding a wave of trade optimism and tech strength:

• EU Tariff Delay: The Trump administration pushed back new tariffs after the EU agreed to accelerate trade talks, sending stocks sharply higher last Tuesday.

• NVIDIA Dominates: The AI leader reported:

  • Revenue: $44.1B (+69% YoY)

  • EPS: 96 cents vs. 93 cents expected

  • Data Center revenue: Soared 73% to $39.1B, driven by AI chip demand

Despite strong midweek performance last week, the rally stalled:

• The U.S. Court of International Trade struck down most of Trump’s tariffs. The White House quickly appealed, and tariffs remain in effect for now.

• Last Friday, President Trump accused China of breaching their trade deal, causing a late-week selloff.

Fixed Income:

The Bloomberg U.S. Aggregate Index moved higher last week as Treasury yields fell:

• 2-Year Yield: -5 bps; 10-Year Yield: -10 bps

Commodities:

It was a down week for the commodity complex:

• Oil (WTI): Fell for the second straight week

• Natural Gas: Dropped on increased storage and lower short-term demand

• Metals: Gold, silver, and copper all declined, reversing recent strength

Currencies:

The U.S. dollar firmed slightly, but still closed lower for the month, making it five straight monthly losses.

• EUR/USD: -0.15%; GBP/USD: -0.57%; USD/JPY: +1.05%

U.S. Economic Recap (May 25 - May 31, 2025)

Inflation Cooled... For Now

• Headline Inflation: Slowed to 2.1%, lowest since Jan 2024

• Core Inflation: Eased to 2.5% from 2.7% in March

• Savings Rate: Jumped to 4.9%, highest in a year

• Real Disposable Income: Rose 0.7% MoM, a good sign for consumer stability

GDP Revised Lower

• Q1 GDP: Contracted 0.2% annualized, revised up slightly from -0.3%

• Consumer Spending: Slowed to 1.2%, lowest in 2 years

• Imports: Spiked 42.6% as firms front-loaded before tariff hikes

• Business Investment: Jumped 10.3%; companies are still investing, but cautiously

Fed in Holding Pattern

FOMC minutes confirmed:

• The Fed can wait for clarity on trade and inflation

• The labour market is solid, but not overheating

• Some Fed officials warned of changing correlations across markets such as rising yields, falling stocks, and a weaker dollar. This suggest that U.S. assets may no longer be seen as a safe haven.

Global Markets Recap (May 25 - May 31, 2025)

Europe:

• STOXX 600: Slightly higher

• German Retail Sales: -1.1% in April, worsening from March’s -0.2%

• EU Sentiment: Consumer confidence ticked up

• Trading Volumes: Thin due to Memorial Day and Ascension Day holidays

• Trade Talks: Moderate tone from EU helped sentiment, though caution prevailed

Asia:

• China & Hong Kong: Led regional losses due to trade uncertainty

• Japan: Ended higher, buoyed by CIT tariff ruling optimism and calm BoJ signals

• South Korea: Gained after central bank cut rates and slashed growth forecasts

• Taiwan: Fell on weak consumer sentiment and growth outlook

Crypto Recap (May 25 - May 31, 2025)

Bitcoin Took Center Stage at Bitcoin 2025 (Las Vegas)

• BTC Price: Fell to $104,745 during the event, later bounced back over $105K

• Highest On-Chain Activity of the Year recorded during the conference

• Sentiment: Neutral; the Fear & Greed Index stayed at 50

• BTC ETFs: Saw $616M in net outflows, ending a six-week streak of inflows

But by the end of last week:

• BTC dropped 3.1%, closing below $104K

• $600M in liquidations, including:

  • $153M from BTC futures

  • $122M from ETH futures

  • $33M and $22M from SOL and DOGE, respectively

Top crypto gainers last week: Cronos (CRO), Quant (QNT), and Toncoin (TON)

Here are other key highlights from last week:

• Crypto bulls rack up $600M liquidations as Bitcoin drops under $104K.

• Here are three clues that point to ETH bias in the crypto market.

• Real-world assets could revitalize dying NFT lending market: DappRadar.

This week is packed with high-impact economic news!

Key U.S. Economic Releases to watch:

• Monday: ISM Manufacturing PMI

• Tuesday: JOLTS Job Openings

• Wednesday: ADP Nonfarm Payrolls, ISM Services PMI

• Thursday: Jobless Claims

• Friday: Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings

Fed speeches this week:

• Monday: Logan, Goolsbee, Powell

• Tuesday: Goolsbee, Logan

• Wednesday: Bostic, Cook

• Thursday: Kugler, Harker

Earnings: 

Notable earnings for this week is outlined in red in the chart below.

Medium-to-High Impact Global Economic Events This Week:

Special Tools and Strategies - June 2025 Crypto

June 2025 Crypto Watchlist: Pendle (PENDLE), Aave (AAVE), and Injective (INJ)

As crypto markets digest the momentum from the Bitcoin 2025 Conference, several altcoins are positioning themselves for potential upside in June. Here are three projects with strong fundamentals, recent bullish catalysts, and a spotlight on innovation in DeFi and on-chain finance:

1. Pendle (PENDLE)

• What It Does: Pendle is a yield trading protocol that allows users to tokenize and trade future yield from yield-bearing assets (like stETH or aUSDC). It essentially creates a marketplace for yield speculation and hedging, enabling new strategies in DeFi.

• All-Time High: $7.52 (April 2024)

• All-Time Low: $0.03 (November 2022)

• Catalyst: With institutional players at the Bitcoin Conference emphasizing “real yield” and tokenized RWAs (real-world assets), Pendle’s focus on yield derivatives aligns with the broader trend. Expect more traction if stablecoin legislation leads to higher on-chain savings rates. Also, recent integrations with EigenLayer and LRTs (liquid restaking tokens) add utility and user volume.

2. Aave (AAVE)

• What It Does: Aave is one of the leading decentralized lending protocols, allowing users to lend, borrow, and earn interest on crypto assets without intermediaries. It pioneered features like flash loans and has expanded across Ethereum Layer 2s.

• All-Time High: $666.86 (May 2021)

• All-Time Low: $26.02 (November 2020)

• Catalyst: Aave was mentioned in discussions at Bitcoin 2025 about DeFi protocols that are “banking the unbanked.” With Aave v4 in development and new credit delegation use cases, regulatory clarity from the U.S. could lead to renewed institutional adoption. Growing support for stablecoin frameworks (like MiCA in Europe and Stablecoin Summer in the U.S.) may directly benefit Aave's lending markets.

3. Injective (INJ)

• What It Does: Injective is a Cosmos-based Layer 1 blockchain tailored for finance applications. It supports high-speed decentralized derivatives, spot trading, and prediction markets, all with near-zero gas fees and full composability.

• All-Time High: $52.75 (December 2023)

• All-Time Low: $0.65 (November 2020)

• Catalyst: INJ’s momentum stems from its growing suite of dApps and new partnerships announced during the Bitcoin 2025 conference. Its integration with Solana and L2s like Arbitrum strengthens its cross-chain DeFi narrative. With themes like decentralized derivatives and AI-powered trading getting spotlighted, Injective could benefit from increased developer and investor interest.

These three projects are well-positioned in the current macro and regulatory environment. As Bitcoin drives the narrative forward, capital could rotate into real-yield and infrastructure projects. Watch how BTC price action, U.S. stablecoin frameworks, and the rollout of institutional DeFi shape June’s trend.

Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.