Hayden Davis, an alleged key figure in this scam ecosystem, has reportedly amassed a net worth of over $100 million by leveraging high-profile names to pump and dump tokens.
The playbook is straightforward: create a meme coin cheaply, attach it to a recognizable figure—whether it’s Javier Milei, Melania Trump, or even Donald Trump himself—snipe the liquidity pools, and cash out before retail investors realize they’ve been played. The goal isn’t to accumulate crypto; it’s about turning hype into U.S. dollars.
SEC Delays ETFs: What This Means for the Market
The Securities and Exchange Commission (SEC) has delayed decisions on several crypto-related ETFs, including those for Dogecoin, Litecoin, Solana, and XRP. This delay is expected to last until October, which conveniently coincides with potential regulatory changes under Paul Atkins, a figure more favorable to crypto-friendly policies.
Ethereum’s spot ETF failed to generate the same excitement as Bitcoin’s, leading to skepticism about how these altcoin ETFs will perform. While some, like Litecoin and XRP, may hold up well, others, such as Solana and Dogecoin, could struggle. Despite the delays, the market sees this as an overall bullish sign—regulatory clarity is approaching, and these ETFs will eventually open crypto to more traditional investors.
Should Crypto Be Part of a U.S. Reserve?
A recent poll by Data for Progress showed that only 10% of respondents support increasing federal funding for cryptocurrencies as part of a national reserve. This response reflects a broader reluctance among Americans to invest in future innovations, as similar hesitation was shown toward AI and renewable energy.
There’s a fine line between fiscal conservatism and stagnation. Without investments in blockchain technology, artificial intelligence, and space exploration, the U.S. risks falling behind global competitors in technological development. The reality is that dominant players in these fields will control economic prosperity and national security in the coming decades.
The Mental Game of Investing: Lessons from the All In Podcast
Market cycles test the emotional resilience of investors. Chamath Palihapitiya recently discussed the importance of mental discipline in investing, a point that resonates deeply with crypto traders. The ability to stomach volatility—whether a 50% portfolio drawdown or a meteoric rise—is what separates long-term winners from panic sellers.
For those new to the space, emotional control is crucial. Many have entered crypto at all-time highs, only to watch their investments shrink. Learning to zoom out, understand market cycles, and avoid knee-jerk reactions is a skill honed through experience.
Whale Bets $365M on a Bitcoin Drop
A crypto whale has placed a $365 million short on Bitcoin with a liquidation price of $85,592. If Bitcoin rises beyond this level, the whale could be wiped out. At the time of writing, Bitcoin is trading at $83,240, dangerously close to triggering a liquidation event. If the short seller knows something the rest of the market doesn’t, we may see a sharp pullback soon. If they’re wrong, expect a major squeeze that pushes Bitcoin higher.
Safe Crypto Wallets and Security Practices
For those seeking secure storage solutions for their crypto assets, Jameson Lopp recently published a comprehensive guide on private key management. The best approach isn’t just picking the right wallet but also ensuring you have the knowledge to protect your assets. Whether it’s cold storage, multisig setups, or proper seed phrase management, crypto security remains a personal responsibility.
https://blog.lopp.net/how-to-back-up-a-seed-phrase/
Finding Quality Crypto Investments
Identifying strong projects in crypto isn’t easy. The best approach is to follow a combination of reliable news sources like The Block, Decrypt, and Daily Crypto News, while also engaging with thoughtful analysis on Substack and X (formerly Twitter). Avoid traders who focus solely on “number go up” narratives, as they often lack real industry insight. Instead, look for teams consistently delivering on their promises, forming genuine partnerships, and maintaining transparency.
Happy HODLing, everyone.
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