The old guard of finance is finally writing crypto playbooks.

But the crypto-native companies are already rewriting theirs.

Schwab just published its framework for sizing Bitcoin and Ether positions.

Meanwhile, geopolitical chaos is stress-testing every portfolio theory in real time.

Here's what matters today.

Schwab tells investors to keep Bitcoin and Ether allocations small and carefully sized

Schwab's new research note lays out two distinct frameworks for adding crypto to a traditional portfolio.

One approach targets return enhancement, the other sets a strict risk budget so Bitcoin doesn't dominate volatility.

Either way, the message is clear: even a small crypto position can reshape your entire portfolio's risk profile.

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Markets

Trump's Iran warning sends risk assets into a tailspin

Trump warned that "a whole civilization will die tonight," rattling markets worldwide.

Crude oil surged past $114 as traders priced in deeper conflict with Iran.

Oddly, spot Bitcoin ETFs logged $471M in inflows just the day before the selloff.

BTC slipped below $69K, ETH fell near $2,100, and SOL dropped toward $80.

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MARA moves $17M in Bitcoin after selling $1.1B worth last month

MARA Holdings shifted 250 Bitcoin to new addresses on Monday, worth roughly $17M.

The company still holds 38,689 BTC valued at $2.6B, but recent job cuts signal a strategic pivot toward AI and data infrastructure.

When one of crypto's largest miners starts diversifying away from mining, the industry is entering a new chapter.

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On Our Radar

Liquidity's awkward phase: crypto markets are quietly ditching pure AMMs for hybrids.*

Crypto gets serious: CME is adding Avalanche and Sui futures next month.

Central bank diplomacy: Korea and France are plotting their digital currency playbook together.

_*sponsored

ICYMI

Meme of the Day

That’s a wrap.

Vi