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Stablecoins just hit $322B, now larger than the FX reserves of 95 nations.
With the GENIUS Act now law and the CLARITY Act moving through the Senate, stablecoins are entering a new regulatory era.
Crypto’s settlement layer is quickly becoming one of the fastest-growing dollar markets in the world.
SpaceX is reportedly targeting a $75B–$80B IPO raise at a ~$1.75T–$2T valuation.
That would be over 2x larger than Saudi Aramco’s record $29.4B proceeds.
The largest IPO in history is just weeks away.
🧵 Thread: Market Recap - May 22, 2026
Markets closed green across the board today, but the tape told a more interesting story underneath.
Small caps led.
Mega-caps split.
Crypto-beta cracked late and a new Fed Chair got sworn in.
Here's what actually mattered 👇
We highlighted hyperliquid:native in our Alpha Report #55 on March 12, 2026 when it was sitting around $37.
What we reported then:
- Arthur Hayes published his “HYPE Man” thesis, setting a $150 target by August 2026 and calling HYPE his largest liquid altcoin bet, driven by 97% of protocol fees going to buybacks and burns.
- HIP-3 permissionless markets crossed $1.2B+ in open interest, with crude oil futures doing $1.99B in 24h volume as traders move to Hyperliquid’s 24/7 onchain orderbook during geopolitical volatility.
- Even Hayes’ bearish case gives HYPE a $58 target, implying 75% upside, while revenue sits at an $843M annualized run rate and needs only a 4% market share gain to revisit its $1.4B peak run rate.
Our research team featured $INTC in our Weekly Alpha Report around $37 on Dec 31, 2025.
Today, it’s trading around $120, up over 200% from our report.
That’s the power of doing the research before the market catches on.
You can now read select Alpha Reports for free below 👇
Bitcoin has often been the best-performing asset in the 60 days following major global crises, frequently outpacing both Gold and the S&P 500.
Across most major shocks in recent years, $BTC has delivered the strongest post-crisis recovery returns:
US Banking Crisis: +32%
Tariff Shock: +24%
COVID-19 Crash: +21%
Ukraine Invasion: +15%
Read today's newsletter for more updates 👇
BREAKING: $TAO up over 10% today
This move traces back to March 20 when Nvidia CEO Jensen Huang reacted to Bittensor’s tech, highlighting it as a global network of computers working together to train AI.
BREAKING: $82B added to the Crypto Market Cap in 24 hours.
Here’s some key events for this week:
Unlocks:
$XPL ~$8M (Mar 25)
$JUP ~$8M (Mar 28)
Macro:
Tue: S&P Global Services PMI
Wed: US Crude Oil Inventories
Thu: Initial Jobless Claims
Fri: MI Consumer Sentiment & Inflation Expectations
Full breakdown in today's newsletter below 👇