GM. This is the Never Die Newsletter, where I share whatever crypto news and content I feel like, every week, short and sweet, right to your beautiful little inbox.
This week we have:
📺 Latest Episode: I’m Buying Crypto Now (Here’s Why)
📰 News: STRC Tumbles Lower
🌟Narrative of the Week: Warsh Makes He’s Debut
NEWS📰
📉STRC Tumbles Lower
STRC, tumbled to near record lows, as investors raised concerns over the company's aggressive Bitcoin acquisition strategy. Traders increasingly view the firm's recent back to back $100 million BTC purchases as an unsustainable path, preferring that the company preserve cash to support STRC's targeted 11.5% dividend rather than expanding its BTC treasury. The sell off, also dragged MSTR down 6.35%, reflects broader risk off sentiment in the crypto market.
🌅 Tether Winds Down Gold Backed aUSDT
Tether has announced the phased shutdown of its Alloy by Tether platform and its gold backed, overcollateralized aUSDT stablecoin after just two years in operation. Citing limited user activity and a strategic shift to prioritize products with stronger demand, Tether has immediately halted the minting of new aUSDT and set a September 17 deadline for users to redeem existing tokens for their underlying Tether Gold (XAUT) collateral.
🚪 Ethereum Foundation Hsiao-Wei Wang Steps Down
Hsiao-Wei Wang, a nearly decade long core contributor and co-executive director of the Ethereum Foundation, has officially resigned from her position and board seat following a recent sabbatical. Having joined the foundation's research team in 2017, Wang leaves behind a massive legacy. Her exit significantly compounds an ongoing wave of high profile leadership departures over the past year, leaving interim co-ED Bastian Aue to lead the organization as its sole executive director for the time being
⚖️ CFTC Settles With Celsius Founder Alex Mashinsky
The US CFTC has officially resolved its enforcement action against Celsius’ Alex Mashinsky, permanently banning him from trading US commodities, futures, and derivatives, as well as prohibiting him from ever registering with the regulator.
I’m Buying Crypto Now (Here’s Why)
In this video, I explain why I’m buying crypto now while most are waiting for Bitcoin to crash to $40K. I break down why the bottom may already be in, why Bitcoin holding above key levels matters, and how macro, the 4 year cycle, FOMC, and the October setup could all collide over the next few months.
NARRATIVE OF THE WEEK: Warsh Makes He’s Debut
The June FOMC meeting was Kevin Warsh’s first as Fed Chair. As expected, the Fed held rates in a unanimous 12-0 vote. But the real shock wasn't the rate decision, it was the aggressive shift in how the Fed is going to operate moving forward. Here is the breakdown;
No More Forward Guidance: Warsh officially killed forward guidance. He removed the Fed's long standing tradition of telegraphing their future rate moves to the market months in advance. Warsh bluntly stated that the Fed is no longer in the business of giving the market a heads-up, preferring to keep the element of surprise and force investors to react to real time economic data.
Tackling Inflation Head On: Warsh made it clear that inflation is the Fed's primary target, stating unequivocally: "This Committee will deliver price stability." The updated Summary of Economic Projections (SEP) was aggressively hawkish. Half of the committee (9 out of 18 members) now project at least one rate hike in 2026, a massive reversal from March when the consensus was looking for cuts.
The New Task Forces: To modernize the central bank, Warsh announced the launch of five new task forces. These groups will re evaluate the Fed's communications, balance sheet, data gathering, inflation framework, and notably, the economic impact of new general-purpose technologies like AI.
Warsh’s conference yesterday put risk assets like crypto in a tough position, as the hope for near term rate cuts has sharply declined due to hot inflation numbers. The Fed currently sees inflation as its number one issue, and a rate hike this year is now a very real possibility. Their hawkish stance will only shift if the economic data comes back positive and realistically, that can only happen once there is a definitive de-escalation in the Middle East to relieve the current supply shocks
MEANWHILE ON X
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