GM. This is Milk Road, the crypto newsletter that's the Sherpa for your climb up Mount Gainsalot.
Here’s what we’ve got for you today:
- ✍️ 3 new trades → one is up 60%.
- 🎙️ The Milk Road Show: Bitcoin Holders Have Been Waiting 15 Years For This.
- 🍪 ChatGPT and Claude can now control crypto wallets and swap tokens on Base.
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OUR LEAD ANALYST BOUGHT 3 ASSETS. ONE'S ALREADY UP 60% 📈
Our lead crypto analyst (M0xt) recently loaded up on three assets, across three different sectors:
One in Crypto. One in Fintech. One in AI memory.
Here's the rundown on each, plus why one of these trades is already up ~60% from entry to peak.
First up: Figure (FIGR), the onchain lending platform.
Figure’s Q1 results came in strong… so why’d the stock just take a ~25% haircut?? 👇

M0xt couldn’t link the sell off to any fundamental decay…
And when a business is performing fine but the price falls on nothing, that usually points to short-term weakness rather than a broken business.
As a result - M0xt used the pullback to size up his position.
Next was Klarna (KLAR).
We covered Klarna in last Thursday's newsletter, but just ICYMI…
Klarna has grown well beyond a simple ‘buy now, pay later’ (BNPL) company, and M0xt believes the market is yet to catch on.
It has a strong base across Europe, is pushing hard into the U.S., and is building a range of financial products outside of BNPL.
Sure, the stock IPO'd at a $15B valuation and has mostly traded down since…
But the post-IPO unlock pressure (when insiders and early investors are finally allowed to sell their shares) is largely worked through, and profitability is now showing up in the numbers.
M0xt thinks this is the moment the risk/reward starts to flip.
For the final trade, we have SK Square:
The AI memory play…
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OUR LEAD ANALYST BOUGHT 3 ASSETS. ONE'S ALREADY UP 60% (P2) 📈
Last week, SK Hynix (the world's #2 memory chip maker) raised its Q2 guidance on higher DRAM and NAND pricing.
Translation: demand for its chips is running ahead of supply.
But rather than buying SK Hynix directly, M0xt is building a position in a holding company called ‘SK Square’ - which has roughly 95% of its value made up of SK Hynix equity.
SK Square trades at about a 50% discount to its net asset value (NAV = what the assets sitting inside the company are actually worth) - so he's essentially getting AI memory exposure at a discount.
But M0xt’s SK Square position isn't new - he’s been in the trade for weeks now!
The setup when he first entered looked like this:
SK Hynix sat at 4.5x expected 2026 earnings, while Micron (its closest competitor) traded above 10x earnings - all with worse margins!
Here's how it's gone since:
- SK Hynix market cap: $1.08T.
- Up 240% in 2026.
- $480B added in market cap in the last 30 days alone.
- Q1 2026 revenue: $36B, a new record.
- Q1 2026 operating profit: $27B, also a new record.
The trade played out faster than even the bull case suggested.

But M0xt is far from done here - the AI memory thesis keeps getting further and further confirmed with each quarter that passes, so he’s still adding on every dip he can grab.
Our Milk Road PRO members caught the SK Hynix setup before it added almost half a trillion dollars in market cap - pushing SK Square up ~60% over a 22 day period.
If you don’t want to miss the next big trade, try Milk Road PRO for a buck for 7 days.
(New setups are already forming. You just need to be in the room when they get called.)

BITE-SIZED COOKIES FOR THE ROAD 🍪
Special offer for Milk Road readers. Kalshi is giving Milk Road readers $10 free when you trade $10 on their platform.*
John Gillen: Vitalik is deliberately choosing to be the unreasonable man (and that’s a good thing).
HUGE: ChatGPT and Claude can now control crypto wallets and execute token swaps directly on Base.
Is this my next AI stock? The hidden kingmaker of AI…
Yup. The Louvre. Proof of Talk is an executive web3 summit returning to Palais du Louvre, Paris on June 2nd & 3rd. Use code MILKROAD for 20% off.**
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