Strive Is Closing In On The Second Largest Bitcoin Treasury

The Clarity Act died. Crypto is getting it one rule at a time.

In five days the SEC approved the first 3x leveraged Bitcoin and Ether products, the CFTC proposed a federal rulebook for leveraged retail crypto trading, and the Treasury withdrew two proposed rules that would have put reporting requirements on self-custody wallets and mixers.

Scott Melker called this the day the bill failed, and he walks through what each agency can and cannot do without Congress. He also covers Strive buying six times more Bitcoin than Strategy did, and why a 3x ETF is not what most buyers will think it is.

Timestamps
0:03 What was supposed to happen after Clarity failed
0:57 Strive quietly outbuys Strategy
3:24 Debt free is not obligation free
4:03 The SEC clears the first 3x Bitcoin products
5:48 Why a 3x ETF eats itself
6:56 The CFTC writes a rulebook with one commissioner
10:22 Treasury drops the wallet and mixer rules
12:14 More crypto firms file for bank charters
13:29 Tokenized pre-IPO exposure arrives