The Wolf Den
One important argument every weekday at the intersection of crypto, markets and money - for real investors in a fake world.
- Top in Finance
- #25
- Followers
- 140K
- Recommends
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other newsletters
What they write about
One argument each weekday at the intersection of crypto, markets and money. Recurring subjects include Bitcoin treasury companies, stablecoins and Tether, token valuation and buybacks, exchange and protocol security failures, and how crypto market structure is converging with traditional finance.
- crypto
- bitcoin
- stablecoins
- tokenomics
- market structure
- security
Recent examples: The Blue Wave Gives Crypto’s Critics the Upper Hand in Congress · The Midterms Won’t Give Us a Party I Trust With Money
Written from The Wolf Den’s own published post titles and openings in Sep 11, 2026. It describes the subjects the newsletter covers, not its views, and is not investment advice.
Growth history
Subscribers (thousands, nightly)
137K on Sep 10, 2026 → 136K on Oct 21, 2026
Followers (thousands, nightly)
Rank in Substack’s finance leaderboard: #25 today · #24 a week ago · #29 a month ago
Stats worth sharing
Tracked since Sep 10, 2026 — 62 daily snapshots so far. The card below is built from what we track and refreshes nightly.
- Percentile
- Top 5%
- Best rank seen
- #23
- Rank, 7 days
- −1 place
- Rank, 30 days
- +4 places
- Followers added
- −15K
- Posts
- 21
- Reactions per post
- 32
- Reactions tracked
- 1.7K
- Tickers covered
- 1
of 525 ranked finance newsletters
on Nov 9, 2026
since tracking began
last 30 days
average, recent posts
across 53 posts
in tracked posts
Most-reacted post we have seen: Crypto Is Coming For The Most Exclusive Assets In The World — 133 reactions on Sep 3, 2026.
Recent posts
- The Blue Wave Gives Crypto’s Critics the Upper Hand in Congress
The blue wave just made crypto’s Washington strategy a lot harder. Democrats won the House and Senate, and some of the industry’s toughest critics are positioned to control the committees that shape its rules. Trump’s administration can keep pursuing deregulation, but turning those gains into lasting legislation now means negotiating with a Congress that has different priorities. That shift matters because committee leadership determines far more than who gets the best seat at a hearing. Elizabeth Warren is expected to chair Senate Banking when the new Congress convenes in January. Maxine…
- The Midterms Won’t Give Us a Party I Trust With Money
On yesterday’s Macro Monday, Mario Innecco brought up a decision Jimmy Carter made that I can’t imagine either party making today: he appointed a Fed chairman after being warned it could cost him reelection. Mike McGlone called it “a complete profile in courage.” With the midterms today, I went back through the history, because that choice feels almost foreign to the politics we have now. Today could change who controls Congress. I don’t expect it to produce a party willing to accept years of economic pain for a payoff somebody else gets to claim. Trump is demanding lower rates, and I think…
- After A $6.3 Billion Theft, Binance Reported A 2.1% Net Outflow
Contrary to popular conspiracy theories circulating on X, the FBI has confirmed that North Korea was behind the $6.3 billion hack of Binance. This was a nation state attack on the exchange, period. Now that we have put that nonsense to bed… Binance spent the weekend in disaster response mode, buying coins it already owed its customers. Somebody always pays for a hack. This time, Binance is taking the loss itself, which is the difference between a terrible week for a company and a financial disaster for the people using it. Sign Up For Bitfunded! An apology is in order… yesterday I sent out an…
- I’ve Got 1,000 Free $5K Trading Challenges For You
I’ve got something for you from my good friends at Bitfunded: 1,000 of you can claim a free $5K simulated challenge account, available only through my link . If you’ve never tried anything like this, I think you’ll like having a chance to see how it works. A prop firm is a company that lets traders trade its money and share the profits. Before giving you that opportunity, it asks you to pass a test, called a challenge: reach a profit target without breaking its loss rules. Normally, you pay a nominal fee to take that test. Bitfunded uses simulated accounts on live market data, both during the…
- The Biggest Crypto Hack Ever Hit Binance, The World’s Largest Exchange
It’s been a bad day in the crypto world. Binance, the world’s largest crypto exchange, was hacked yesterday in the biggest crypto theft ever recorded. The company estimates the impact at about $6.3 billion, roughly four times the previous record set by Bybit. About $3 billion has been frozen so far, but investigators are still chasing billions more across multiple blockchains. Withdrawals remained paused this morning as Binance worked to secure its systems. One Ethereum transaction alone moved about $2.53 billion from the hot wallet labelled “Binance 14” to a new address. Other wallets were…
- My Last Bitcoin Email?
It’s Scott. You haven’t opened The Wolf Den, my morning crypto newsletter, in a while. Last email: click or I stop Monday, November 2. Keep The Wolf Den Coming Bitwise’s $1.6 million Bitcoin target rests mostly on winning share from gold. I pulled apart the math. Free and staying free. Opening doesn’t count. Clicking does. Scott P.S. Keep The Wolf Den Coming
- Bitwise Built 82% Of Its $1.6 Million Bitcoin Target On One Bet
About 82% of Bitwise’s new $1.6 million Bitcoin target comes from its bet on Bitcoin as an alternative to gold. The firm needs Bitcoin’s share of their combined store-of-value market to rise from roughly 5% to 25%, which means a much bigger slice of the world’s savings has to find its way into Bitcoin. That is the argument I want to test before getting excited about the price. What caught my attention in the report published yesterday was that Bitwise raised its forecast after a crash without changing the share it expects Bitcoin to capture. Its previous target was $1.3 million, and CIO Matt…
- Jason Calacanis Told People To Dump Bitcoin While Holding An AI Token
By last night, venture investor Jason Calacanis’s Bitcoin sell call had about 1.4 million views. His instruction to “dump it now” came with a $57,000 target within a year and a much bigger claim: “Bitcoin will never break its all-time high again.” Then came the disclosure that he is long TAO, Bittensor’s AI token, which puts his pitch in context. He wants Bitcoin judged against the AI growth story he already owns. He asks, “Why put your resources into a dead network that offers nothing beyond a store of value?” as though storing value were an embarrassing job for money to have. That’s the…
- Were Bitcoin's Hedge Fund Buyers Ever Really Bulls?
Wall Street is doing “blockchain, not Bitcoin” for the third time. My read is that most of this year’s institutional selling came from hedge funds unwinding a spread trade, while the longer-term owners stayed. I’ve watched this shift in attention before, after a cycle low, when bankers got excited about the technology and holding Bitcoin felt like a waste of time. In 2015, banks formed the R3 consortium while Bitcoin traded around $230. The Economist put “The Trust Machine” on its cover that October. Bitcoin had bottomed in January around $178. The banks were getting interested in blockchain…
- Netanyahu’s Backup Plan Sounds Like Bitcoin
It’s Scott. You haven’t opened The Wolf Den, my morning crypto newsletter, in a while. Click to keep it coming or I stop Monday, November 2. Keep The Wolf Den Coming Netanyahu wants a blockchain plan for possible sanctions. I think he’s making Bitcoin’s case. Free and staying free. Opening doesn’t count. Clicking does. Scott P.S. Keep The Wolf Den Coming
- Netanyahu Just Made The National-Security Case For Bitcoin
Benjamin Netanyahu wants a blockchain plan so Israel can prepare for possible banking sanctions. To me, that was the biggest crypto story last week. A close American ally is asking how its economy would function if the banks stopped cooperating. You can spend years explaining why access to money should never depend on political approval. A prime minister worrying about losing that access makes the argument pretty well himself. In an interview aired Friday, Netanyahu warned that Israel could face economic sanctions, including banking restrictions. Asked whether blockchain could offer an…
- A 28-Person Startup Says It Turned Mercury Into Gold
A startup says it turned mercury into gold, and parts of Bitcoin Twitter have already finished gold’s obituary. I understand the enthusiasm. If your argument for Bitcoin rests partly on its scarcity, someone claiming to manufacture the competing monetary asset makes for a pretty satisfying afternoon. But I would like to know how much gold they made and what it cost before declaring that central banks are holding an obsolete product. Marathon Fusion, a 28-person San Francisco startup, posted Wednesday that it demonstrated “high-rate alchemy” last month, turning mercury into stable gold and…
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Data: Substack public leaderboards and publication archives, refreshed nightly, plus public beehiiv sitemaps and recommendation pages, refreshed weekly. Source for this page: The Wolf Den. Subscriber counts are Substack’s own rounded public figures, so week-on-week changes move in steps. beehiiv audience sizes are self-reported by the publisher and are not verified. Last snapshot: Nov 10, 2026.