📈 MARKETS

Crypto’s in overdrive! While stocks also rebounded on Wednesday backed by gains in both banks and big tech, BTC and ETH are stealing the show with their jaw-dropping 70% and 50% YTD gains, respectively.

I know what you're thinking: With crypto soaring sky-high, should I jump on the bandwagon now or hold out for a better opportunity? It's a tough call, but don't worry—in today's email, we’ve added a tip to guide your decisions during these confusing times. Read on!

🍩 DONUT HOLES

• Do Kwon finally arrested, to be held in Montenegro for 30 days 🔒

• Elon Musk and 1,000 other AI experts ask for AI projects to pause, warning that AI poses “profound risks to society and humanity” 😧

• Disney cuts its metaverse unit as part of 7,000 layoffs

• Ticketmaster launches NFT-gated sales

• SBF charged with attempting to bribe Chinese gov. officials with $40M

• Gucci goes APE - multi-year collab confirmed

REGULATIONS

Could CFTC save crypto from SEC’s iron grip?

The U.S. government, specifically the CFTC, is suing Binance and its CEO Changpeng Zhao (aka CZ) for a laundry list of alleged issues. While the news itself doesn't exactly spark joy for crypto enthusiasts, the silver lining in the filing is that Bitcoin, Ethereum, and Litecoin are classified as commodities, not securities.

What does this mean?

Well, this stance clashes with the SEC's opinion, which has been asserting that cryptocurrencies like Ethereum and Litecoin are securities.

A little bit about the SEC:

• Crypto’s supervillain, the Thanos of digital assets

• Sent Ripple's price spiraling by suing them for selling unregistered securities

• Is trying to do the same with more cryptocurrencies

If the court sides with the SEC, crypto will have to face grim consequences, like being delisted from U.S. exchanges or getting slapped with huge fines. These would leave many projects in the dust, and investors in tears.

CFTC: Crypto’s new BFF 👯‍♂️

Enter the Commodity Futures Trading Commission, like the cool big brother swooping in to save you from the SEC’s bullying. The CFTC regulates commodity futures trading, while the SEC governs securities. Basically, they’re both vying for the right to regulate cryptocurrencies, which would grant them more power and influence. For crypto, being regulated by the CFTC would serve much better as it would finally set it free from SEC’s iron grip.

A safe haven in the storm

The good news? Both the SEC and CFTC agree that Bitcoin isn't a security. So, if you're concerned about the SEC breathing down your investments' neck, Bitcoin might just be your sanctuary.

TRADING

Unlock the secrets of crypto whales 🤑

This guy has $2.5M in his crypto wallet and raked in $600K in the past day alone.

Ever wished you could peek into the strategies of folks making these wild profits? Especially when prices skyrocket like now, we want to know what skilled traders are doing. In crypto, it’s possible—you can follow the trades of “whales”, the market movers with deep pockets.

Blockchain's transparency is a feature you can capitalize on here.

All you have to do is look

Conveniently, there are tools designed for this purpose. DeBank displays the investment positions of any wallet address (crypto equivalent of bank account numbers) you enter, making it easy to follow along.

Don’t know where to find whale wallet addresses? DeBank has a dedicated “Whales” section, and GMX and Kwenta offers leaderboards of top traders ranked by profit.

Here’s an example for you:

The photo above is a random whale I found on DeBank’s leaderboard. This guy has $2.5M in his wallet and a $600K gain today, and I can literally just see where they’re putting their money! At the time of writing, they’re still “long” on Bitcoin and Ethereum, betting on their short term rise.

This isn’t financial advice

Of course, none of this should be taken as financial advice. A whale wallet you're monitoring could nosedive at any moment. However, it's definitely a useful way to get a feel for what the big players are doing in the market—especially if you examine multiple wallets over time.

🐦 TWEET OF THE WEEK

= basically every crypto trader (it’s a video)