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Degens Deteriorating
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One of the biggest scams in crypto now ends on a bitter note.

Hayden Davis and his father Tom Davis (who already has a fraud conviction from the 90s)

Since 2024 they have been running the same scheme over and over:

launching memecoins with political or celebrity hype, pumping them to billions, then draining liquidity in hours.

LIBRA was the biggest case.

On Feb 14, Milei’s own account promoted it.

The market cap shot to $4B, and within 24 hours more than 90% was gone.

Onchain showed 57.6M USDC and 249k SOL extracted by insider wallets.

Other tokens followed the same playbook:

MELANIA, HOOD, FRIES, M3M3.

Total damage is estimated at more than $280M stolen from retail.

Class actions in New York froze 57.6M USDC tied to their wallets.

Argentina even requested an Interpol red notice for Hayden Davis.

But today those frozen funds were unlocked.

The crime is legal in crypto.

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A MAJOR BITCOIN PATTERN KEEPS REPEATING

1⃣ Range forms

2⃣ Failed breakout attempt

3⃣ Liquidity sweep on the downside (bear trap)

We’re now right at step 3.

Don’t get shaken out.

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It's been a good 3 years out there

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El Salvador has officially banned the "Edgar" haircut in its public schools.

The country's new Minister of Education requires each student to have a clean uniform, formal haircut and mandatory greeting of teachers and principal upon entering the school.

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Kanye launched his coin $YZY the same day Libra got their $57 million back

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Big Boy: Ukrainian FPV drone armed with a 155mm shell

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“bro im gonna lock in this summer trust me”

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BREAKING:

BLACKROCK, FIDELITY, AND OTHER ETFS HAVE SOLD $316.5 MILLION WORTH OF BITCOIN.

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Yesterday’s FOMC minutes leaned bearish for rate-cut expectations.

Today at 8:30 AM ET, initial jobless claims drop:

- Expected: 225K

- Previous: 224K

For a bullish case on crypto/rate cuts, claims need to come in above 225K.

Keep a close eye on the data.

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Powell’s Jackson Hole speeches move Bitcoin.

2023: Hawkish → pump, then dump.

2024: Dovish → pump, then dump

Tomorrow he speaks again.

Expect major volatility.

Trade leverage with caution.

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NEW - Trump says he will save California

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"This is 16K resolution. Extremely rare. Sony threw it in as part of the trade deal with Japan. I don't ever have time to use it. Look at that, you can see into her pores. Reminds me of golf ball dimples. Any of you guys golf?"

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NEW: Memecoin launchpad heavendex has become the 3rd largest revenue-generating protocol on Solana in the last 24 hours, just a few days after launch

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