VanEck has launched a new exchange-traded fund designed to give investors access to the growing digital asset economy without holding crypto directly. In a May 14 press release, the company said the VanEck Onchain Economy ETF, under the ticker NODE,…

VanEck launches ‘NODE’ ETF targeting blockchain stocks and crypto-linked assets

In his latest essay, Arthur Hayes, co-founder and CIO of Maelstrom, draws a 
stark parallel between America’s growing economic imbalances and its 
unsustainable reliance on foreign capital—and argues that capital controls, 
not tariffs, are the only politically viable solution to rebalance the system. 
In what he dubs the “Boiling Frog Theory,” Hayes foresees a slow, stealthy 
imposition of financial restrictions on foreign investors that will ultimately 
accelerate Bitcoin’s rise to $1 million by 2028. Titled Fatty Fatty Boom Boom, 
the essay begins with a provocative metaphor: America’s bloated financial 
system is likened to the obesity crisis—a pathology enabled by cheap processed 
inputs and pharmaceutical band-aids that preserve a diseased status quo. “The 
American economy was hijacked by printed money,” Hayes writes, tracing the 
origin of US imbalances back to the Federal Reserve’s inception in 1913 and 
the permanent shift away from natural business cycles to a regime of endless 
stimulus. Why Capital Control&#8217;s Could Drive Bitcoin To $1 Million Tariffs, 
according to Hayes, are politically and structurally impotent. Even under 
Trump, their application will be diluted through bilateral carve-outs and 
geopolitical concessions, allowing countries like Vietnam and Mexico to act as 
arbitrage hubs. “Without one tariff for all, there will always be a country or 
countries that act as trans-shipment arbitrage points,” he explains, noting 
that this same dynamic lets China skirt semiconductor restrictions via third- 
party intermediaries. Related Reading: Bitcoin Treasury Firms Are This Cycle’s 
Bubble, Experts Warn Instead, Hayes sees capital controls—specifically taxes 
on foreign ownership of US financial assets—as the only strategy with both 
economic bite and political payoff. He proposes a 2% annual tax on foreign- 
held stocks, bonds, and property, totaling approximately $33 trillion. Such a 
levy could eliminate federal income taxes for the bottom 90% of Americans, 
making it a “winning political strategy” for Team Trump. “Either foreign 
capital stays, pays the tax, and revenue is used to eliminate income taxes… or 
foreign capital leaves, and American manufacturing grows,” Hayes argues. But 
if capital leaves, who replaces it? Hayes is blunt: the US will turn to the 
printing press. “Remember that 4/4 kick drum, the Brrr button. Y’all know what 
the answer is,” he quips, referring to the return of quantitative easing, the 
suspension of QT, treasury buybacks, and loosened regulatory constraints like 
the supplemental leverage ratio. Hayes believes the Fed, despite rhetorical 
resistance, is already enabling this stealth monetization by targeting long- 
duration treasury bonds for QE. “Powell’s ass is sat firmly in the cuck chair, 
and he ain’t leaving. Now pass the lube,” he writes, in typical Hayes fashion. 
The ultimate effect of this capital exodus and ensuing monetary response, he 
contends, will be the devaluation of US treasuries in real terms and the 
reallocation of global capital into stateless, censorship-resistant assets 
like Bitcoin. Unlike gold, which requires intermediaries to function in the 
digital realm, Bitcoin is a native digital bearer asset that can operate 
outside state-controlled financial infrastructure. “Bitcoin is the perfect and 
only lifeboat for global capital that must leave America and elsewhere,” he 
asserts. Related Reading: Bitcoin Rally Is Far From Over—Top Expert Predicts 
Surge To $150,000 Hayes notes that even the Trump administration appears 
ideologically aligned with Bitcoin and gold, pointing to the removal of 
tariffs on gold and the regulatory de-escalation around crypto. With these 
assets potentially being elevated to reserve status, Bitcoin is poised to 
absorb capital fleeing dollar-denominated instruments. In his forecast, Hayes 
considers the migration of even 10% of foreign-held US portfolio assets—$3.3 
trillion—into Bitcoin. At current market depth, that would trigger a supply 
shock far beyond a simple 10x price move. “If 10x the amount of capital 
attempted to squeeze into the market, it would lead to a much greater than a 
10x rise in price,” he predicts, citing the inelastic supply and long-term 
holders unwilling to sell. The result? A path to $1 million per Bitcoin by the 
2028 US presidential election. Hayes also reveals that Maelstrom went “maximum 
long” during the early April financial turmoil and is now rotating into 
“quality altcoins”, which he believes offer real services and return profits 
to token holders. Still, he warns of tactical volatility, noting that Trump’s 
strategy is fluid and opposition within the administration remains. But for 
Hayes, the trajectory is clear. Capital controls are no longer fringe 
theory—they are becoming inevitable policy. And Bitcoin, he concludes, is the 
only asset positioned to benefit from the collapse of Pax Americana’s 
financial plumbing. At press time, BTC traded at $102,377. Featured image 
created with DALL.E, chart from TradingView.com

Bitcoin Will Hit $1 Million By 2028 As Capital Controls Kick In: Top Expert

Money is changing fast. Bitcoin, stablecoins, and CBDCs each offer a different 
take on what money can be — and each comes with its own set of rules. Bitcoin 
keeps it simple: the rules never change. No central authority, no sudden 
shifts — just consistent, transparent money. Stablecoins, acting like digital 
dollars, step in where […]

Digital Currencies in 2025: Why Predictability Is Beating Flexibility

NXPC, the new token from Nexon’s blockchain gaming arm, is gaining massive 
traction—having surged over 100% following a wave of major exchange listing 
announcements and its market cap surpassing $500 million. NEXPACE (NXPC), the 
native token of the blockchain gaming…

NEXPACE surges over 100% after a wave of exchange listings

Bahrain-based publicly listed catering company with a $24.22 million market 
cap has adopted a Bitcoin treasury strategy in partnership with investment 
firm 10X Capital.
According to a May 15 announcement, AlAbraaj Restaurants Group partnered with 
10X Capital to adopt a Bitcoin (BTC) treasury strategy similar to top 
corporate BTC holder Strategy, previously known as MicroStrategy. The firm 
also aims to explore Sharia-compliant access to Bitcoin for the Islamic world.
&#8220;Our initiative to become a Bitcoin treasury company reflects our forward- 
looking approach and our commitment to enhancing shareholder value,&#8221; Abdullah 
Isa, head of AlAbraaj&#8217;s Bitcoin Treasury Committee, said.
Isa added that the company believes that &#8220;Bitcoin will play a central role in 
the future of finance.&#8221; He explicitly cited Strategy&#8217;s legacy as an 
inspiration:
&gt; &#8220;We look forward to building the &#8216;MicroStrategy of the Middle East&#8217; with 
&gt; their support.&#8221;
_**Related:**__**Strive to become Bitcoin treasury company**_
A photo shared by the company on X shows a meeting between a company 
representative and MicroStrategy chairman Michael Saylor.
_Source:__AlAbraaj Restaurants Group_
## Company makes initial Bitcoin purchase
AlAbraaj Restaurants Group made an initial investment of 5 BTC and announced 
the intention to keep accumulating more. The decision is reportedly a response 
to the evolving financial landscape and growing institutional interest.
The firm plans to allocate a significant portion of its corporate treasury to 
Bitcoin, making it its primary reserve asset. It said it prides itself on 
being profitable, with $12.5 million of earnings before interest, taxes, 
depreciation and amortization reported in 2024.
The company also said it hopes to strengthen its portfolio and expand to the 
finance industry. As part of this initiative, it plans to develop its own 
Sharia-compliant financial instruments to tap the Islamic market.
_**Related:**__**Blockchain is the best fintech to ensure Sharia ethics &#8212; 
Web3 exec**_
## Backed by 10X Capital
The firm&#8217;s partnership with 10X Capital eases their introduction into the 
Bitcoin market and digital asset treasury management. The same company advised 
Nakamoto in its recent $710 million raise.
On May 12, healthcare services provider KindlyMD merged with Bitcoin-native 
holding company Nakamoto Holdings to build a BTC treasury named Nakamoto. The 
latter company was founded by David Bailey, a crypto adviser to US President 
Donald Trump.
AlAbraaj Restaurants Group also hopes to rely on 10X Capital to help it raise 
more capital to acquire additional Bitcoin, increasing the BTC-per-share ratio 
for investors. 10X Capital CEO Hans Thomas highlighted that the deal provides 
potential Bitcoin exposure to the entire Gulf Cooperation Council:
&gt; &#8220;The GCC has a combined GDP of over $2.2 trillion&#8211;larger than Canada, 
&gt; Russia, Italy, Brazil, Australia, South Korea, or Spain&#8211;and sovereign 
&gt; wealth exceeding $6 trillion, yet until now, lacked a public Bitcoin 
&gt; treasury company like MicroStrategy.&#8221;
_**Magazine:**__**Rise of MicroStrategy clones, Asia dominates crypto 
adoption: Asia Express 2024 review**_

Bahrain-based AlAbraaj Restaurants adopts Bitcoin treasury strategy

Coinbase CEO revealed how blackmailers received sensitive information on its 
customers, leading to scam attempts.