19th May 2026 > > Crypto adoption.
- 9 hours ago
- 2 min read
tl;dr
Crypto adoption wherever you look.
Market Snap
Market Wrap
Another record outflow from the spot BTC ETFs yesterday of $650mm isn’t the most encouraging of signs.
Occasional Series – Anne Boleyn
I am fortunate to be playing the part of Parrot in Anne Boleyn by Howard Brenton for a two-week run at the end of July at Tower Theatre, Stoke Newington:
It’s a fabulous theatre, and it will be a very slick production.
Occasional Series – Wolf Hall Weekend
I am also fortunate to be playing the dual roles of Christophe and Seymour in a rehearsed reading of The Mirror and the Light, a stage adaptation of the third book in the Hilary Mantel trilogy Wolf Hall:
Staged for one night only, and in the remarkable All Hallows By The Tower, tickets are almost sold out for this one.
Curious Cryptos’ Commentary – Minnesota
The Governor of Minnesota, Tim Walz, signed into law House File 3709 on Friday:
This new law allows banks and credit unions to provide custody services for cryptos. Bernie Perryman, a sponsor of the bill, explains why:
“Minnesota-based financial institutions are allowed to evolve alongside their customers and members rather than forcing Minnesotans to rely on unregulated, out-of-state or offshore providers for services.”
The seventh largest bank in the US, US Bancorp, is headquartered in Minneapolis, Minnesota
Curious Cryptos’ Commentary – Intesa Sanpaolo
Intesa Sanpaolo has increased its crypto exposure from $100mm to $235mm between end of 2025 and the end of Q1 2026. This is mostly in the form of spot BTC and spot ETH ETFs, handing custody issues to the giant in the space, Coinbase.
Note that these positions are all proprietary – these are not assets held on behalf of clients. Intesa Sanpaolo has a quarter of a yard of investments dedicated solely to cryptos, telling me that its executive management is of the highest order.
Curious Cryptos’ Commentary – Qivalis
Twelve European banks, including BBVA, BNP Paribas, ING, and UniCredit, have banded together to create Qivalis, an entity set up to issue a MiCA-compliant stablecoin subject to Dutch central bank approval in the latter half of this year.
That wailing sound accompanied by gnashing of her teeth is that of Convicted Criminal Christine Lagarde, President of the ECB, who has been on a mission to launch a Euro CBDC that will allow for so much greater control over how EU citizens can spend their hard-earned euros. Given the glacial pace at which EU technocrats and bureaucrats work, a Euro stablecoin issued on a public blockchain threatens her totalitarian ambitions to the benefit of everyone.
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