Minority Mindset

Ethereum, that grande dame of the crypto world, is holding her own near the $2,400 range, and Bitcoin’s dominance is ever so slightly waning. The narrative, my loves, is all about RWA, AI, privacy, and Layer-1 ecosystems. TON, ONDO, and SUI are the belles of the ball, displaying more momentum than a Coward play on opening night.

Monday dawned with the solemnity of a funeral, as Kevin Warsh, that enigmatic figure from the land of central banking, took the helm at the Fed. One might imagine him as a man who speaks in riddles and trades in liquidity, replacing Jerome Powell, whose tenure ended like a candle flickering out in a draft.

Key Takeaways:

The total market capitalization of tokenized real-world assets, those phantom reflections of tangible things, ballooned to $19.32 billion by March. A 256.7% rise, they say. And who are the stars of this digital carnival? Tether Gold and Paxos Gold, of course, driving nearly 89.1% of the growth. The old gods of finance now wear the masks of code, their golden faces illuminated by the cold glow of screens.

In a new CNBC interview, Griffin explains that if Iran keeps blockading the Strait of Hormuz-where 20% of global oil passes through-oil prices will skyrocket. Because nothing says “I’m a visionary” like predicting the obvious. “Unfortunately, we have yet to reopen the strait,” he says, as if the strait is a stubborn toddler refusing to share toys.

• Bitcoin traded at a daily high of $81,700 on Mother’s Day 2026, up from $8 in 2011, a 10,000-fold increase. (Note: This is what happens when you bet on a horse named “Volatility.”)
• Every bitcoin bear market since 2011 has been higher than the last. (Like a game of musical chairs where everyone brings a new chair.)
• Spot bitcoin ETF approval in 2024 helped drive prices to $104,000 by Mother’s Day 2025. (The government finally said, “Okay, Bitcoin’s here to stay, let’s give it a stamp of approval.”)