14th June 2026 > > Peter Schiff & Pump.fun.
- 17 hours ago
- 2 min read
tl;dr
Peter Schiff defends cryptos. You what?
And in other news, crypto makes a rare misstep that we will come to regret.
Market Snap
Market Wrap
Friday saw a net inflow of $86mm into spot BTC ETFs, coinciding with the launch of the SpaceX IPO, which may have contributed to the four-week drawdown totalling over $5bn.
Geoff Kendrick, Standard Chartered’s head of digital asset research, weighed in with a briefing note to clients on Friday:
“I think we have now seen the low in crypto asset prices for the cycle. Winter is over.”
Occasional Series – Wealth taxes
Andy Burnham’s future stint as PM will be bookended with wealth taxes. Here is one take for those who peddle the politics of envy:
Your crypto gains are going to have to wait until a more sensible CGT regime that does not destroy investment is restored. But that’s ok, we are all in this for the long game.
Occasional Series – World Cup
Nestory Irankunda becomes Australia’s youngest goalscorer at the World Cup. We love him down at the Vic. I had the pleasure of meeting him after Watford’s last home game of the season, an instantly forgettable 0-4 trouncing at the hands of the Championship champions, Coventry City.
You will be delighted to hear that he is a lovely chap.
Curious Cryptos’ Commentary – Fight, fight, fight!
After Jamie Dimon’s shocking outburst on national television (https://www.curiouscryptos.com/post/1st-june-2026-stand-with-crypto-mstr-j-p-morgan) which inadvertently exposed that TradFi’s only concern is to shore up the moat that prevents others from competing with them for retail deposits simply to enrich those like Dimon himself, arch-crypto sceptic Peter Schiff weighed in with an extraordinary response:
“Jamie Dimon claims crypto companies that offer interest-bearing products should be subject to same capital and compliance requirements imposed on banks. That's nonsense. Banks are FDIC insured and make risky loans under a fractional reserve system. Stable coin issuers don't.”
Go, Peter!
And that is a sentiment that is not often expressed in these missives for very good reason:
He is always so very wrong, apart from the one time he recommended buying BTC in 2013 in the 10s of dollars (https://www.curiouscryptos.com/post/24th-april-2026-a-gold-scam-the-clarity-act-and-peter-schiff).
…
Brad Garlinghouse, CEO of Ripple Labs, agrees with the CCC:
“What Jamie Dimon did a disservice around… is that he’s representing that this reduces compliance concerns, that it makes it easier to do bad things. That’s just not true. It’s either intentionally misrepresentation or even negligent to try to make support for the Clarity Act go away.”
Brad continues:
“Jamie Dimon also should be clear he is trying to protect and dig a deeper moat for a business that’s extremely profitable for them.”
Yep, Dimon is very fond of his annual bonus that numbers into the tens of millions of dollars fleeced from retail depositors.
Curious Cryptos’ Commentary – Pump.fun
Pump.fun’s core business lets users easily launch memecoins on Solana. One might have thought that craze had long died a death, but apparently not. Mostly harmless fun, I guess.
But, for once, the CCC has some worrying news that is crypto-driven.
Pump.fun has launched a new product that offers bounties in exchange for someone doing something on video:
The most common reaction on X, and the most accurate, goes something like this:
“What could possibly go wrong?”
Comments