Crypto just unlocked a door the industry has been trying to open for years.

On Wednesday, Kraken became the first crypto bank ever to receive a Federal Reserve master account from the Kansas City Fed.

Why does this matter?

It gives direct access to the Federal Reserve’s payment rails, meaning faster settlements, lower costs, and the ability to operate at the same infrastructure level as traditional banks.

Until now, crypto companies have been stuck going through intermediary banks.

Kraken just skipped the middleman.

The approval reportedly comes with limitations (a “skinny” master account), meaning Kraken can’t earn interest on reserves. But the bigger picture is what matters:

The Fed just opened the door to crypto-native banking.

And naturally, Wall Street isn’t thrilled.

Major banking groups JPMorgan, Bank of America, Wells Fargo, and Goldman Sachs immediately slammed the decision, arguing it’s risky and outside the Fed’s normal approval process.

If crypto firms gain direct access to the Federal Reserve system, it could:

• Reduce reliance on traditional banks
• Speed up fiat ↔ crypto settlement
• Make crypto infrastructure more resilient
• Legitimize crypto financial institutions

In short, this is the type of plumbing upgrade that quietly strengthens the entire industry.

And the banks know it.

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Meanwhile in Washington, the most important crypto legislation in U.S. history, the CLARITY Act, is currently stuck in political limbo.

And the entire fight boils down to one surprisingly simple question:

Should stablecoins pay yield?

Crypto companies like Coinbase want to offer interest on stablecoin balances.

Their argument is simple:
If stablecoins generate yield from reserves, users should share in it.

Banks strongly disagree.

JPMorgan CEO Jamie Dimon summed up their position this week:

"If you are going to be holding balances and paying interest, that's the bank. You should be regulated by a bank."

Which means you should face the same regulations:
capital requirements, liquidity rules, and deposit insurance.

Crypto leaders say that’s just protectionism.

They argue banks are using regulation to avoid competing with crypto platforms.

Things escalated this week when Trump publicly stepped into the debate, accusing banks of “holding the crypto agenda hostage” and pushing Congress to pass the CLARITY Act.

This bill could determine how crypto operates in the U.S. for the next decade.

If it passes:

• Stablecoin adoption could explode
• Major institutions gain regulatory clarity
• Capital flows into crypto infrastructure
• Markets may see a major bullish catalyst

Analysts at JPMorgan say the bill could still pass by mid-2026, potentially setting up a second-half market catalyst.

But time is running out.

Congress goes on summer recess soon, the 2026 election cycle is heating up, and both banks and crypto companies are fighting for control of the rules.

Which means the future of crypto regulation in the U.S. is currently being decided in a battle between two trillion-dollar industries.

And whoever wins will shape the next phase of the crypto market.

While the market rebounds, Dogecoin is stealing the spotlight.

The OG meme is up ~15% in 24 hours, making it the top gainer in the top 100 cryptos.

Memes run this market. And $DOGE has been doing it since 2013.

To celebrate the pump, we dropped a limited Dogecoin shirt for the community.

Clean design. Meme energy. Pure degen culture.

Because if $DOGE sends to the moon again…

You’ll want the uniform.

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Last week’s BTC long from the newsletter played out perfectly, giving us a clean ~12% move and roughly 3R. Not bad for a week’s work.

But now we’re running into a problem for the bulls.

There’s a massive supply zone sitting above current price, which is where sellers tend to step in and slow momentum. Because of that, I’m beginning to scale into a short position here, with a planned DCA around $75,496 if price pushes a little higher.

First target on the $BTC short is $68,765. On the 4HR and daily we have 12 EMA and VWAPs curling up to this area which also lines up with that broken trendline we are still yet to retest.

Now before the maxis start sharpening their pitchforks…

The main area I’m watching for the big short setup is still $81K–$84K.

That zone is stacked with liquidity and previous supply.

But realistically?

I struggle to see BTC ripping straight to $84K in one move without some form of pullback first. Even in strong uptrends, the market rarely moves in a straight line.

Price has just pulled back into the 7.18% support zone and this level has acted as both resistance and support multiple times over the past year, which makes it a strong decision point for the market.

At the same time, we’re also sitting close to a rising trendline that has been holding since the January lows so with Bitcoin at resistance and this chart at support we could be looking at a rotation in altcoins if this level holds.

And now if we look to the $BTCDOM chart you can see that we are approaching resistance at the same time which gives us added confluence of the coming rotation into alts and the pullback on $BTC.

As long as these levels are respected on both charts over the coming days then the play would be to start focussing on altcoin longs that are breaking out.

And remember to focus your attention on the coins that have the markets attention, your old dino coins from 2021 aren’t running anymore so take a look at the new kids on the block that have actually been having solid runs on them lately.

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