Plus: Psychic crypto advice leads to $80M loss

GM. Today we’re juicing like it’s an 80s powerlifter montage.

Here's what you're in for:

🍍 Bullish traders vs. bearish price.

🔮 A psychic's advice that cost $80M.

🍋 Bitcoin vs. Ethereum, Michael Jackson's IG promotes a memecoin + more

🍍 Market flavor today

Crypto Market Cap: $3.81T -2.11% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$109,768.82	-1.93%	-3.99%
	Ethereum ETH	$4,467.30	-4.04%	5.46%
	XRP XRP	$2.91	-1.42%	-1.90%
	BNB BNB	$843.78	-2.64%	0.79%
	Solana SOL	$189.14	-4.79%	4.68%

Yeah, the market didn’t show up with chocolates and roses today 😕 Bitcoin fell to $109K.

And CryptoQuant contributor Arab Chain pointed out that there's something strange going on if you dig deeper.

Even though Bitcoin’s price has been decreasing lately, traders on Binance - which handles the most Bitcoin futures trading in the world - have stayed bullish.

How do we know? Because funding rates have stayed high throughout August.

If this sounds like gibberish, lemme explain 🤓

In futures trading, funding rates are fees that traders pay each other to keep positions open.

👉 When the rate is positive, traders who are betting on a price increase (longs) are paying those betting on a decrease (shorts);

👉 And when the rate is positive and high, it means not only are more people going long - but they're doing it in huge numbers or with heavy leverage.

So in this case, traders are clearly expecting a rebound, and they're confident enough to keep paying those extra fees.

But here’s the problem: Bitcoin’s price isn’t backing that up.

And this mismatch between bullish traders and a bearish price raises some red flags.

Many of those long positions are leveraged, so even a small price dip can force them to close, which could trigger a long squeeze - aka automatic sell-offs that push the price down even faster.

So while things might seem calm at first glance, those high funding rates are giving a warning:

The market’s leaning too far in one direction - and if that support breaks, the drop could get ugly ⛔️

🥝 Memecoin harvest

Nothing but vibes, rage buys, and one dude named Kyle who won’t stop tweeting about it 🤷

Data as of 06:15 AM EST.

Check out these memecoins and plenty more here.

🔮 Losing $80M... because of a psychic

Today’s story isn’t breaking news - but it sure is entertaining. It’s got psychics, crypto, lawsuits, and Canada’s richest family.

So you know what? Why not. Let's talk 'bout it.

It all starts with Taylor Thomson, one of six heirs to the Thomson Reuters media empire. Her family’s net worth is in the tens of billions, and she’s a billionaire in her own right.

In 2009, she met Ashley Richardson at a pool party in Malibu.

And they hit it off instantly. Over the next decade, their friendship looked like something out of a movie: Sunday dinners in Bel Air, vacations in Sicily, fireworks on superyachts, and emotional support through life’s ups and downs.

But in 2021, the movie delivered a plot twist: the two started consulting psychics.

And that’s not the worst part. It wasn’t just any psychic guidance - they wanted INVESTING ADVICE.

Pardon? 😃🕶️🤏 I honestly can't believe that's even a thing.

Anyways... the psychics gave them a suggestion: buy a crypto token called Persistence. So they did.

Taylor invested around $40M, and Ashley helped manage the portfolio. At first, the gamble paid off - the token pumped, and at one point, their crypto holdings were worth about $140M.

But then came 2022. And if you’ve been in crypto long enough, you know what happened next: a brutal crash.

And according to a review by Guidepost Solutions, Taylor’s portfolio had lost over $80M.

That’s when the finger-pointing began.

Turns out, Ashley was the one actually running the wallets - executing trades, moving funds, and managing the crypto accounts. A later investigation claimed she made hundreds of thousands of trades, allegedly without Taylor’s formal approval.

• Taylor sued Ashley for $25M, accusing her of mismanaging the money.

• Ashley responded with a $10M countersuit, saying she had always acted on Taylor’s instructions, there was no written contract between them, and she never got the "finder’s fee" she was promised.

So now, two former best friends are fighting each other in court over a psychic-guided crypto investment gone wrong.

And what's the moral of the story here?

Crypto is risky enough without spiritual advisors involved.

It doesn’t matter if you’re investing $10 or $40M - ALWAYS do your own research, and NEVER give control of your money without strict boundaries, written agreements, and a full understanding of what’s being done with it.

Be careful with your money, especially in crypto.

🍋 News drops you can't miss

🎉 Get $100 just for joining. Download the Changelly app using this link anytime in August 2025, and you’ll get an exclusive $100 welcome bonus right inside the app.

🤔 BTC or ETH? Before you pledge your loyalty, check out our comparison to see what really sets them apart.

💼 Trish Turner took the top spot at the IRS's crypto division in May… and stepped down just three months later. Barely had time to unpack her desk.

🤝 SBI Group has partnered with Chainlink to cook up some blockchain tools for Asia’s financial institutions. They’re focusing on real use cases like tokenizing assets.

👀 A wallet related to the Coinbase hack went on a shopping spree. It spent ~$8M worth of stablecoins to buy SOL.

😬 Some celeb IG accounts - like Adele’s, Future’s, Tyla’s, and even Michael Jackson’s - got hacked to pump a Solana memecoin. The hacker posted an AI-generated pic of Future holding a token.

🍌 Juicy memes