Bitcoin just cratered to $57K — a fresh 21-month low, the lowest since September 2024 — as the token sliced through its 200-week moving average, historically a signal of prolonged bear markets. Fed rate HIKE fears from Kevin Warsh and mounting concerns over Strategy&#x27;s new $1.25 BILLION sell authorization are stripping Bitcoin&#x27;s biggest structural bid, with June ETF outflows now confirmed at a record $6 BILLION. Meanwhile the biggest stablecoin story ever just dropped: 140+ giants — including BlackRock, Visa, Stripe, Mastercard, Amex, Google, Samsung, Shopify, Coinbase, and Ripple — just launched Open USD (OUSD), a USDC killer with zero mint/redeem fees and reserve earnings shared with partners. Stripe&#x27;s president declared OUSD &quot;the DEFAULT stablecoin for businesses running on Stripe,&quot; and Circle stock (CRCL) crashed 15% overnight. Add Trump&#x27;s disclosed $1.4 BILLION in 2025 crypto earnings blowing up the Clarity Act ethics fight — and we break down whether Bitcoin&#x27;s bottom is in, or if this is just the start of something much worse.<br><br>Learn more about your ad choices. Visit megaphone.fm/adchoices

Bitcoin CRASHES To 21-Month Low As Circle DUMPS 17%

The Wolf Of All Streets

# Full Transcript

**Podcast:** The Wolf Of All Streets

## Participants

- **Scott Melker** (The Wolf Of All Streets)
- **Alex Thorne** (Galaxy)

## Transcript

Bitcoin dropped to a 21-Month Low As Circle also dumped 17% in a single day on the announcement of OpenUSD from 140-plus competitors. It's going to be an interesting time in the stablecoin race. And everybody wondering if Bitcoin has possibly bottomed. We've got Alex Thorne hopefully joining today from Galaxy. If he doesn't, you get a solo show because we started anyway. Let's go.

Good morning, everybody. Happy Wednesday and welcome to the lovely lake house with the cherry blossoms and the fruits. I'm feeling very calm today, wildly unprepared to do a solo show because I depend on my guests to bring all the alpha. And then some days wires get crossed and we're not sure if they are going to show up. Alex is a great guest. I'm sure there's something going on. We'll figure it out.

If not, you get to hear me probably just rant and rave about this. Guys saw it, right? Trump reports at least $1.4 billion in 2025 crypto earnings. Now let's talk about where that money came from. This is great. It's like a practice for the Daily Wolf. Fun. Fun.

$635.1 million in transaction fees for the Trump meme coin. $236.3 million in World Liberty Financial token sales. $196.9 million sale of ownership interest in the USD1 stablecoin venture. He's already sold his interest in the USD1 stablecoin venture.

$65.6 million sale of part of Trump's stake in World Liberty Financial. So as that has gone to effectively zero, he made $65 million selling his stake. $6 million, casual six. A Melania Trump's NFT sales and collectibles business and about $511K in Ethereum validator staking rewards. Also holding a bunch of crypto to his credit. But you may ask, is this his personal disclosure?

Yes, it was over 900 pages. 927 pages to be exact. Not that it's of any major consequence, but Obama's apparently was eight. I have not gotten the numbers on Biden's yet. But I found the best line, by the way, in the filing, because I did a quick clawed on it. Filing lists the meme coin's value as not readily ascertainable.

But he got paid $635,68,835. So he got paid to the penny. That check cleared, but we don't know what Trump meme coin could possibly be worth. Oh, and by the way, they're still holding tons of these assets. That's literally just the profits from last year. Absolutely astounding. Since we're alone here today. TikTok, TikTok.

I would love, because I know you guys are highly political in the comments. Tell me what you think of this. Tell me what you think. Is it illegal? No, by the way. So unless he was taking payments from foreign governments, which there have been, you know, obviously claims that they did that to the Trump token dinners and such like that. But does this bother you? Bother you? You think it's great? Do you think that Trump has been a net positive or a net negative for the industry?

Come on, guy...

Bitcoin CRASHES To 21-Month Low As Circle DUMPS 17%

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Bitcoin CRASHES To 21-Month Low As Circle DUMPS 17%

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.