Saylor Sells as Perps Come to America

In this week's episode of Galaxy Grid, the hosts unpack a starkly divided cryptocurrency market where major assets are lagging while selective altcoins reach new highs. The crew breaks down the market's reaction to Michael Saylor and Strategy, moving 411 Bitcoin to Coinbase and executing a test sale of 32 BTC for $2.5 million. They debate the timing of this shift, which follows a massive $12.5 billion net loss in Q1 and is intended to fund dividends on Strategy's newly issued STRC preferred equity. On the regulatory side, the hosts analyze the CFTC's monumental approval of Kalshi's onshore Bitcoin perpetuals, which introduces legal crypto perps to the U.S. and opens a pathway for Deribit perps via Coinbase. Finally, the team looks at global market structure as they analyze Binance's new zero-commission traditional stock trading platform and the network health of the Sui blockchain following a series of major outages.

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