⚠️ ALERT: KINDLYMD ($NAKA) FACES NASDAQ DELISTING RISK

Bitcoin treasury company KindlyMD faces potential delisting from the Nasdaq after closing below $1 through October and November. This is down nearly 99% from a yearly high of $34.77. The firm must achieve a closing share price of at least $1 for a minimum of 10 consecutive business days by June 8, 2026, to regain compliance.

⚡️ JUST IN: President Trump to interview pro-crypto Fed Governor Christopher Waller for Federal Reserve Chair.

👀 THE FIRST US STABLECOIN RULE UNDER THE GENIUS ACT

The FDIC has unveiled a framework under the GENIUS Act that would allow U.S. banks to issue payment stablecoins via subsidiaries. It has opened a 60-day public comment period.

🕯 MACHI REFUSES TO QUIT!

Machi Big Brother, aka the liquidation champion, just opened a 25x leveraged long on 4,500 $ETH ($13.15M).

Since the Oct 11 crash, he’s been liquidated 200+ times, with total losses nearing $23M.

Is this finally the winning trade?

👀 THE END OF SHIMA CAPITAL?

According to crypto journalist Kate Irwin, Shima Capital founder Yida Gao is planning to step down and begin winding down the fund. She cited internal emails that Gao sent to founders of portfolio companies.

💸 BHUTAN TO USE 10,000 BTC FROM ITS BITCOIN RESERVES

Bhutan plans to use up to 10,000 $BTC, worth nearly $1B, from its reserve to develop a 'Mindfulness City.'

The nation currently owns around 11,286 BTC, making it one of the largest state holders.

⚡️ JUST IN: MARSHALL ISLANDS TO ISSUE UNIVERSAL BASIC INCOME ON-CHAIN

The initiative, powered by the Stellar blockchain, will see it use USDM1 sovereign bonds to replace quarterly physical cash deliveries with direct digital transfers to eligible citizens.

This makes Marshall Islands the first country to do so in the world.

💻 BITCOIN BLOCKSPACE CONUNDRUM

💰 Bitcoin miners are under mounting pressure as an unusual network dynamic takes hold.

> A growing share of activity is now driven by Runes, Ordinals, and BRC-20 transactions, which account for a significant portion of total transactions but generate far fewer fees than standard BTC transfers.

> While headline transaction counts continue to climb, the economic value flowing to miners is weakening.

> When close to half of the transactions generate very low fee rates and are being included largely due to cheap blockspace, it inflates onchain activity without materially supporting miner economics.

As a result =

💎 Higher Transaction Volume no longer means Higher Revenue for miners

The strain is now visible across key indicators:

🏋️ Hashrate pressure
Bitcoin’s 30-day average hash rate has fallen from around 1.1 ZH/s to just above 1 ZH/s, marking the steepest post-halving decline since April 2024.

⬇️ Falling miner revenue
Daily miner revenue has slipped from roughly $50 million in Q3 to about $40 million, driven almost entirely by block subsidies rather than transaction fees, a concerning signal as subsidies continue to halve over time.

🤬 Weakening network activity
Active addresses have dropped to roughly 660,000, the lowest level in the past twelve months, reinforcing signs of soft demand for blockspace.

🤔 The question now facing Bitcoin is critical -

If higher transaction volume doesn’t translate into fee demand, can the model hold as block subsidies fade?

‼️ NEW PROPOSAL SEEKS TO FORMALLY RECOGNIZE ASSISTANCE FUND $HYPE AS BURNED

The Hyper Foundation has proposed a validator vote to formally recognize the Assistance Fund HYPE as burned. If passed, it would remove the tokens permanently from the circulating and total supply. Currently, the $HYPE held by the Assistance Fund accounts for ~10% of the circulating supply.