OVERVIEW

Coast Guard Suspends Search For Bottom, Cites Lack Of Visibility 🚣‍♂️

Here’s What’s Happening 👇️

Today’s top trending tickers: Quant, Cardano, Bitcoin, Worldcoin, and Sei

Biggest winners: $SIREN ( ▲ 23.75% ) , $DEXE ( ▲ 16.48% ) , $XMR ( ▲ 3.65% ) , $BCH ( ▲ 2.49% ) , and $WLD ( ▲ 2.6% )  

Biggest losers: $NEAR ( ▼ 21.41% ) , $INJ ( ▼ 19.47% ) , $VVV ( ▼ 19.75% ) , $ZEC ( ▼ 19.88% ) , and $FET ( ▼ 17.22% )

Before we dive in, here’s the total crypto market cap and altcoin market cap charts:

Click to enlarge.

NEWS
Chainlink Pulls Off Biggest Acquisition Of 2026: One (1) Andrew McCormick 👏

We could all use some good news, so here’s some.

$LINK ( ▼ 1.65% ) ’s best trade this year is a person. Andrew McCormick (former Head of eToro U.S.) past Cryptotwits podcast guest, and confirmed reader of this newsletter – is now Head of Institutional and Market Development at Chainlink Labs. 

The acquisition details:

• June 4, 2026 – Chainlink Labs names McCormick to the newly created role

• Previously – Head of eToro U.S., running the broker-dealer, the New York BitLicensed entity, and the money services business simultaneously

• Before that – 14 years as a securities litigator and regulatory counsel at Morgan Stanley, E*TRADE, and Eversheds Sutherland. And as I’m writing this, Holy Left Handed Football Bat Of Rivendell this guy survived the Gamestop insanity and FTX horror story

• The mandate – leading Chainlink’s engagement with U.S. banks, asset managers, and market infrastructure providers

So now that Chainlink just hired the guy who spent two decades at the compliance table, institutional adoption is now a scheduling problem.

IN PARTNERSHIP WITH BOXABL
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BOXABL announced plans for a potential SPAC merger with FG Merger II Corp. (“FGMC”) (NASDAQ: FGMC). After crowdfunding $230M from over 60,000 investors since 2020.

Currently trading on Nasdaq, $FGMC will be the surviving entity following the proposed merger’s closing. The combined company will then be renamed BOXABL Inc., with the anticipated ticker $BXBL.

BOXABL expects Nasdaq trading on or about June 12th. Investors holding $FGMC shares will automatically convert to $BXBL upon closing.

FGMC on Yahoo Finance

Read the proxy statement/prospectus and other SEC filings at ir.boxabl.com
Investing in a SPAC can introduce unique risks, including but not limited to regulatory and compliance risks, liquidity risks, structure and complexity
Review the latest filings https://www.sec.gov/edgar/browse/?CIK=1816937

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

TECHNICAL ANALYSIS
Let’s Look At Some Charts 😶

Cardano

After the funding nightmare and now Charles going on a ‘break’, $ADA ( ▼ 9.07% ) is looking more and more like abandonware – and I say that as a hodler and stacker since Dec 2017.

And if you’re new to crypto and you’ve had both your heart and wallet broken by something you believe in, I have zero words of encouragement because I promise you it will happen again. And that’s why the smart people say diversify. Anyway.

After reading some of the comments on the Stocktwits Cardano stream,checking my email and private messages, I got some requests to look at the chart. And today we’re looking at Cardano’s monthly chart. Why? Because it’s the only ‘normal’ timeframe chart that looks less like the family is about to pull the plug and more like being upgraded from hospice to assisted living.

ADAUSD Monthly Chart – Click to enlarge.

The only thing positive about this chart is how beaten down it looks. I’m not saying there’s a trend reversal anytime soon or a return to the bull market, but this things is more stretched out than trying to fit a twin-sized fitted sheet over a California King bed.

Just look at the insane gaps between the monthly candlestick bodies and the Tenkan-Sen. Yuge. Gaps like that don’t last very long – and when they do, the return to equillibirum is often fast, sudden, and violent.

Again, I’m not saying there’s a indication of a new bull market or broad trend change, but the technicals are screaming mean reversion sometime soon. But this is the monthly chart, so soon could mean today or January 2027ish…

Ethereum

I’m going to focus on the concept of time cycles here for Ethereum, specifically Gann cycles. Time cycles are great because even if you don’t know how low something go (or higher), you may at least get an idea of when something may pause or turn around.

ETHUSD Daily Chart – Click to enlarge.

Gann’s 270-day cycle (can extend to 289 days) is one of the most important cycles of this inner year time cycles. Gann wrote that there is a very high probability that a 45-day or 90-day cycle will end an important one-year cycle. Today (June 4, 2026) is 284 days since the all-time was made on August 24, 2026.

Coinciding with the Gann time cycle(s) is an Ichimoku component. It’s been a while since I’ve hosted a live stream or even written about this, but Goichi Hosada’s Ichimoku Kinko Hyo system has it’s own time cycle system. It’s part of the Three Principles (Time, Wave, and Price principles).

One of the primary Ichimoku numbers is 42 – and similar to Gann, when an instrument is trending strongly into a time cycle and/or hitting major swing high/lows, that’s a good time to pay attention.

The current week (week of May 31, 2026) is the 41st week since the week of Ethereum’s ATH ($4,955) hit in the week of August 16, 2025.

NEWS
Oh. Look. Stablecoin News. 📰

Years of promising to replace the dollar, and the industry’s most functional product is (checks notes) easier access to the dollar. June 4th delivered five press releases saying so.

• Visa & Brale – Proof of concept settling with SBC, a dollar stablecoin, on $CC ( ▼ 3.76% ) .

• Western Union & Bybit – USDPT, a dollar token issued by Anchorage Digital Bank on $SOL ( ▼ 4.04% ) , now live on Bybit for Latin America. The 6% fee dinosaur everyone wrote obituaries for just forked itself onto a blockchain.

• Modern Treasury – $USDC ( ▲ 0.01% ) on Base, folded into the same API as ACH, FedNow, and wires.

• Triple-A – EUR IBANs that pump straight into stablecoin payouts across 70+ countries.

• Notabene Flow – Hundreds of regulated institutions activated as payment responders across 100+ jurisdictions.

So that’s the scoreboard. Bitcoin was going to end the Fed. Instead, the working product is faster Eurodollars with KYC and a metric crap ton of transparency with no privacy.

OLD NEWS
Crypto Stuff That Happened Today, But A Long Time Ago 📜

Here’s what was happening in the newsletter a year ago today:

• JPMorgan blinked – it started accepting Bitcoin ETFs like BlackRock’s IBIT as collateral for loans.

• Larry Fink was pushing his “globalization 2.0” pitch – less blind globalism, more local investment, more markets serving actual people.

• Paul Atkins was signaling a less deranged SEC approach.

Here’s what was happening in the newsletter two years ago today:

• The market setup looked quietly bullish – ADA, ZRX, and RUNE were nearing breakout territory, while DOT still looked like bearish sludge.

• The Ethereum explainer was about governance – who actually pushes upgrades, how EIPs work, and how off-chain coordination works.

• The SEC scorecard was uglier than crypto people wanted to admit – since 2019, the SEC had won about 95 cases, with only a few notable losses like parts of Ripple and the Grayscale ETF fight.

OLD NEWS
Other Stuff That Happened Today, But A Long Ass Time Ago ⌛️

June 4

• 1616 – Founder of the Tokugawa shogunate, Ieyasu, takes Osaka castle in Japan.

• 1919 – Congress passes the 19th Amendment, which grants women the right to vote. It is ratified by the states in August 2020.

• 1939 – The shopping cart debuts. The kind you push and put stuff in.

• 1940 – World War II – The evacuation of Dunkirk is complete.

• 1942 – World War II – The Battle of Midway begins.

• 1944 – World War II – Rome falls to the Allies.

• 1973 – Don Wetzel is granted the patent for the ATM (automated teller machine).

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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋