May 2026 Pulse Check 📈 The momentum continues across the Provenance ecosystem: → $1.34B MoM TVL increase → crossed 77K network participants → $945M added to monthly loan balance → $316K in monthly chain fees Behind these numbers are real financial assets, real borrowers, and real economic activity moving onchain. If you caught our last Provenance Pulse Call, you know the roadmap ahead is clear: 1) Rework HASH Tokenomics to capture economic value 2) Create deeper utility mechanisms for holders 3) Attract 3rd-party participation on Provenance.

🏦 JPMorgan CEO Jamie Dimon warns stablecoins could become a "huge problem" and says he is not happy with the Clarity Act. 🎙️ When asked about Coinbase CEO Brian Armstrong representing the industry, Dimon said, "He's full of sh!t."

Crypto Macro Stuff I'm Looking At Today ... - Total crypto market cap at $2.595T (previous ATH was $4.38T last October) - Stonks at ATH's - Taiwanese and South Korean stock markets especially surging - Interesting fact, Taiwan's stock market is now just under $5T, or almost double the size of crypto in its entirety - Iran and US have apparently drafted a 'Memorandum Of Understanding' - Gold at $4,445.50 - Oil at $89.75 - Next FOMC Meeting (Warsh's first chance to cut rates) is coming June 17th - Privacy narrative hot right now with coins like $ZEC and $VVV outperforming - Also $SUI says they will apparently launch private transactions soon - Variational and other tokenless perps dex's are still dominating airdrop discourse - PCE Inflation data and US Q1 GDP data both come out tomorrow - Crypto Fear & Greed Index falls to 25 - A number of Asian countries are apparently blocking access to Polymarket due to gambling regulations - Fastest-growing protocols on the weekly with at least $10M TVL (as per DefiLlama) are: Rain, Maya Protocol, EGAS Swap, Railgun, and LINEAR Protocol - Fastest-growing chains on the weekly with at least $10M TVL are: Strato, Citrea, Fluent, Near, and Stable - Top 10 crypto entities by 7 day fee generation are: Tether, Circle, Uniswap, Pump, Hyperliquid, Canton, Polymarket, Lido, Aave, and Tron Conclusion Keep putting in the reps lads :) Crypto is clearly the most out of favor asset that exists at the moment. I keep hearing people talk about "day-trading" stocks... keep hearing about Pokemon cards and TCG's generally... But absolutely nothing about crypto :) This is good though - you want to build positions in stuff that is out of favor. Total crypto market cap is also absolutely tiny at this point - it will not take much in the way of inflows to pump it way higher. Right now the out of favor assets are real estate and crypto, and the in-favor ones are stocks, gold (though seems to be cooling down), and collectibles. Think stocks will keep going higher, but I think both real estate (at least residential real estate in the US that is) and crypto are getting ready to shine again soon. We will see though :) As always let me know what I missed and please RT if you enjoyed! 💪

Major areas where the financial system still needs an update: 1. Tokenization of real-world assets - Real estate, stocks, bonds, funds, etc. onchain for instant settlement, fractional ownership & massive distribution. 2. 24/7 Global trading - Pooled global liquidity, every asset, every person, with great leverage and capital efficiency. 3. Next-gen payments - Near-instant, low-cost global transfers using stablecoins, including for Agentic payments. 4. AI-powered risk, credit, compliance, and advice - Better decisions, less fraud, and broader access to capital. Everyone gets access to a great financial advisor. 5. Innovation friendly regulation - Move from one-size-fits-all to risk-based rules that encourage innovation and competition instead of stifling it. 6. Expanded access - Open protocols that reduce middlemen and self-custodial wallets to expand access to everyone with a smartphone. 7. Capital formation - Low cost and turnkey for anyone to raise money for a good idea, increasing the number of startups. 8. Sound money - A refuge from inflation, when discipline is lost in fiat money. Jobs not done until we get these working for all. Will require lots of tech innovation and policy work to get there.

Tokenized assets total $320B. But stablecoins represent 91.6%. Every other asset class fits inside the remaining 8.4%. Until other asset classes scale, tokenization's numbers stay dominated by one category.