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Are Banks Dead Men Walking? THE DAILY --- H.E.A.T. Torching Wall Street’s Obsolete Playbook. Delivered straight to your inbox 5 days a week. Subscribe Home Posts Are Banks Dead Men Walking? Are Banks Dead Men Walking? Jul 18, 2025 Wall Street’s 60/40 formula was born in 1952 — the same year as the first credit card. A lot has changed since. That’s why we created a new approach — The --- H.E.A.T. Formula — to empower investors to spot opportunities, think independently, make smarter (often contrarian) moves, and build real wealth. Table of Contents 🔥 Here’s What’s Happening Now 🏦 Are Banks Dead Men Walking? 📈 Stock Corner 📬 --- In Case You Missed It 📊 Subscriber Poll 🤝 Before You Go Some Ways I Can Help 🔥 Here’s What’s Happening Now So yesterday I told you, and I did myself, to add to hedges. This market just keeps taking whatever is thrown at it and just goes up. That can’t last forever, but as we have seen, it can last for a while. I added hedges to get back to my base case . My formula is somewhat complicated, but basically I want a 10% hedge, and I use the Delta of my options to calculate that. I don’t disagree with Mohit’s take here, but I do think we see some sort of pullback (small) at some point. On hedges I believe you always have a base case and then you adjust tactically. I’m still at the base case until I see reason to add more. ❝ We remain positive on risky assets over the coming weeks, though we have taken some chips off the table. Technicals and the macro picture remain supportive. Positioning is not as supportive as it was a few months ago but not at levels (yet) where it would flash a red light. Our view remains of being long risky assets at least till early August. Technicals will start to shift in August. Our view also remains that we should start seeing some weakness in the US employment data in August which should weight on risky assets. Mohit Kumar, Jefferies This could be big. A large part of the --- H.E.A.T. Formula is gold and crypto…. — # (# ) This could also be big…. — # (# ) 🏦 Are Banks Dead Men Walking? Today we are talking about the potential death of banks, at least as we know them, and the potential extinction of regional banks. Who steps in? Maybe COIN….. Coinbase steps into consumer market with stablecoin-powered 'everything app' that goes beyond trading Coinbase is looking to reach a new subset of consumers who aren't necessarily interested in buying or trading crypto, the company's core business. www.cnbc.com/2025/07/16/coinbase-steps-into-consumer-market-with-stablecoin-powered-everything-app-that-goes-beyond-trading.html Interesting article from Porter Stansberry the other day on this….. Stablecoins Are Going To End The Banks – And That’s Just The Beginning - Porter & Co. Whether you understand it or not, the nature of money is changing forever. As soon as people get used to using digital money, like stablecoins, they’re going to ask themselves a simple question: why bother using the U.S. dollar at all? members.porterandcompanyresearch.com/stablecoins-are-going-to-end-the-banks-and-thats-just-the-beginning Also a nice shout out to SKRE ….. ❝ Don’t believe me? Just watch. The Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) is an exchange-traded fund (“ETF”) that offers investors about 200% of the inverse of the daily performance of the SPDR S&P Regional Banking ETF (KRE). In simpler terms, this ETF is designed to go up – a lot – when the regional banking sector, as tracked by KRE, goes down. And since it’s going to zero, this ETF is going to go up… a lot. I launched SKRE because I made a lot of money shorting regional banks during the Silicon Valley collapse and I didn’t think it was over, still don’t. My issue initially was commercial real estate exposure and buying Treasuries at low interest rates. It is also very easy to move money from a regional to a money center, and it doesn’t make sense for anyone to now have over $250k at a regional bank. Porter’s article may be behind a paywall so here’s a summary…. Every regional bank in the U.S. will fail within five years. Stablecoins will replace traditional banking services (safekeeping and payments). Bitcoin will replace gold as the primary store of value in a digital economy. Individuals and institutions will migrate to platforms like Coinbase and Circle (CRCL) to store wealth, earn yield, and facilitate payments, cutting out banks entirely. 1. Core Functions of Banks Are Obsolete Banks have historically safeguarded deposits and facilitated payments. With biometric wallets, stablecoins, and instant settlement via blockchain , the traditional need for banks is eliminated. 2. Stablecoins Offer Superior Yield + Utility Platforms like Coinbase now offer USDC-backed deposits paying 4.10% APY . These deposits are backed by short-term Treasuries , liquid, and instantly transferable worldwide. Retail and institutional capital is flowing into stablecoins — $38 billion YTD out of banks into stablecoins. 3. Regional Banks Are Structurally Fragile Short-term borrowings at Citigroup (+44%) and Wells Fargo (+58%) reveal stress. Banks are increasingly dependent on non-core funding due to deposit flight. If stablecoin yield, liquidity, and utility continue to improve, traditional deposits may collapse. 4. Crypto Will Cannibalize Legacy Finance Bitcoin's share of global assets is small (~9.3% of gold, 3.4% of U.S. stocks), implying room to appreciate . Porter recommends holding 12.5% of one's portfolio in Bitcoin , citing monetary debasement and structural deficits ($30 trillion shortfall in Social Security/Medicare). 5. Main Takeaway Stansberry believes regional banks = next telecom collapse (circa • 2000) . Recommends investors migrate into stablecoin and Bitcoin ecosystems. Cites Tuttle Capital’s SKRE ETF (2× inverse regional banks) as a prime vehicle to profit from regional bank collapse. Porter tends to make big claims, which helps from a marketing perspective, but he does some good research and looks at things differently. I obviously agree on the regional banks, it’s a tough business model already. Will they disappear completely, and do so overnight? Not so sure about that, they do serve a purpose. I have my money at a money center bank, but when I need something out of the ordinary I go to a regional. I do think many could fail, and the ones that survive are trimmed down. I also believe stablecoins are going to be a game changer, probably not as big as the internet or AI, but big. There will be upheaval, and winners and losers. Let’s talk about what stablecoins are….. Genius Act ushers in a new era for stablecoins. Here’s what that means for Americans’ wallets. Cryptocurrency has gained a hold in Americans’ investment portfolios and their retirement accounts — and now it’s a step closer to their wallets for everyday use. www.marketwatch.com/story/genius-act-ushers-in-a-new-era-for-stablecoins-heres-what-that-means-for-americans-wallets-6d7648ba?mod=home_lead ❝ Stablecoins are a type of cryptocurrency, like bitcoin. But a stablecoin’s value is pegged to another asset, typically the U.S. dollar. Digital currencies like bitcoin and ether aren’t tied to currency that’s issued and regulated by governments. By latching the token’s value to steadier fiat currency, stablecoins are supposed to avoid volatility — hence the “stable” moniker. Tether is the largest stablecoin by market capitalization, valued at $160 billion. For years, one Tether token has hovered just at $1. Tether’s reserves are predominantly cash and equivalents, mostly Treasury debt. ❝ A stablecoin’s more reliable underlying value removes that fear with everyday transactions, said Salah Ghazzal, policy and legislative analysis manager at the Blockchain Association. “It’s just a revolution in how we transact in today’s world,” Ghazzal told MarketWatch. Stablecoins allow fast payments and access to the U.S. dollar across the globe, all without a bank account, said Malekan. The law could be clearing a new way to put idle money to work, Malekan said. “Banks historically never had to compete with anybody other than each other. … Suddenly there’s a new kind of competition that most people didn’t see coming.” Are stablecoins the next Venmo? Big banks prep for the next big payments competition. Banks are gearing up to take on payments competition from stablecoins, which could increase after Congress passed the Genius Act. www.marketwatch.com/story/are-stablecoins-the-next-venmo-big-banks-prep-for-the-next-big-payments-competition-2f8abdc3?mod=home_lead ❝ Asked if banks will create a consortium, like Zelle, on stablecoins for the industry to defend against a rival stablecoin payment service, or just launch products on their own, Bank of America Chief Executive Brian T. Moynihan said both approaches could be needed — “I think it would be all of the above,” he said. As far as the big banks, they still play key roles in credit creation, mortgage lending, and regulatory infrastructure . Stablecoins depend on banks for fiat on-ramps , at least for now. Regulatory pushback is likely, especially under a Trump administration that may seek to preserve U.S. banking power. ❝ "The stablecoin disruption thesis is real — it won’t destroy all banks, but it will permanently shrink their relevance and revenue model." Our call: At best Regional banks face a structural slow bleed — not an overnight collapse, but a decade-long disruption cycle. Exposure to Bitcoin and stablecoin yield infrastructure is increasingly table stakes. Looking at a chart of KRE here we could either see a breakout to new highs or a double top short sale. This is short term view of course, whatever may play out will probably play out over a longer time frame….. The Investment Strategy Wall Street Hopes You Never Discover July 31, 2025 2pm-3pm EST https://register.gotowebinar.com/register/5880160046486398304 📈 Stock Corner Needham Initiates EVTL with a Buy and $9 price target…… ❝ We initiate coverage of EVTL with a Buy rating and $9 price target. EVTL is a pure play eVTOL OEM getting minimal credit for gaining ground on industry leaders in what we expect to be a supply constrained industry. EVTL's VX4 aircraft is closing the performance gap with recent piloted flight achievements while operating from a more capital efficient posture and offering a discrete and achievable runway to profitability with their FlightPath2030 framework. Similar to peers we see a longer dated story, with shorter-term catalysts(regulatory approvals, flight milestones) driving increased confidence in the longer-term opportunity. Our $9 price target is 7.5x our '32E adj EBITDA discounted back, a conservative multiple vs our broader eVTOL coverage. — # (# ) Oracle looks to join an exclusive club as it approaches this market milestone Oracle’s stock rose more than 3% on Thursday, moving ever closer to a $700 billion market cap. www.marketwatch.com/story/oracle-looks-to-join-an-exclusive-club-as-it-approaches-this-financial-milestone-0aa8033e?mod=home_lead 📬 --- In Case You Missed It 📊 Subscriber Poll How Did You Like Today's Newsletter ❤️ Love it 👍 It's Okay 👎 Not Great Login or Subscribe to participate 🤝 Before You Go Some Ways I Can Help ETFs : The Antidote to Wall Street Inside HEAT: Our Monthly Live Call on What Wall Street Doesn’t Want You To Know Financial HEAT Podcast https://www.youtube.com/@TuttleCap Freedom from the Wall Street Hypocrisy Tuttle Wealth Management: Your Wealth Unshackled Advanced HEAT Insights: Matt’s Inner Circle, Your Financial Edge All rights reserved. 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