Plus: Kraken’s warning about fake crypto bros

GM. Threw the market into a juicer and forgot to remove the pits - so yeah, there’s a little crunch today.

🥊 Elon Musk vs. Donald Trump.

🔒 Staying safe at crypto conferences.

🍋 News drops: Uber's looking at stablecoins for payments, a darknet marketplace might've sent $31M to Ross Ulbricht + more

🍍 Market flavor today

Crypto Market Cap: $3.26T -0.74% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$104,446.85	0.17%	-0.84%
	Ethereum ETH	$2,508.54	-2.74%	-3.33%
	XRP XRP	$2.17	-0.95%	-0.23%
	BNB BNB	$647.31	-1.53%	-3.19%
	Solana SOL	$150.71	0.00%	-6.42%

Aight, so yesterday’s charts were already quite disappointing. But today? WTF, man...

The Fear and Greed Index got closer to Fear, and prices are starting to look dangerous.

What happened? Only the wildest plot twist of 2025: Donald Trump and Elon Musk are beefing.

The whole thing started when Musk trashed Trump’s “One Big Beautiful Bill” on X.

Why’s he not vibing with it?

Well, the bill is meant to fund Trump’s campaign promises - making his 2017 tax cuts permanent, more spending on defense and border security, all that.

And it would also add another $2.4 TRILLION onto the already monstrous US national debt.

Which is quite literally the opposite of what Musk was trying to do with the DOGE department.

And, let's just say, Trump didn’t exactly take the criticism well.

He said Musk "just went CRAZY" after Trump killed the electric vehicle (EV) mandate - a rule that made car companies hit certain targets for how many electric vehicles they had to sell.

(And it helped Tesla stay ahead since they were already all-in on EVs.)

Then he added that the easiest way to save money was to cut off Musk's government funding - stuff like tax breaks for EV buyers and clean energy programs.

Basically, he made it sound like Musk had been fine with the bill at first but only started freaking out when he realized it might mess with his business.

Musk, of course, denied all that. He said he never saw the bill, and if they’re cutting EV and solar incentives, fine - but leaving in all the 'disgusting pork' wasn’t okay.

And just to top it off, he dropped this:

I know. Crazy stuff. And the impact was immediate:

• Tesla's stock dropped 14%;

• The Trump Media & Technology Group's stock decreased by 8%;

• Like you saw in the table earlier, the major cryptos took a hit;

• About $308M in long Bitcoin positions were liquidated as prices dropped;

• Dogecoin dropped by 6%;

• The TRUMP memecoin dropped by 12%;

• The crypto market lost about $170B in value overall.

Because when two of the loudest guys in the world start shouting, the markets listen…

🥝 Memecoin harvest

Gains that feel like finding 5 bucks in your old jeans 🤑

Data as of 06:30 AM EST.

Check out these memecoins and plenty more here.

👀 Impostors are among us

People in crypto are always like, "Yo, be careful," but most of the time that just means:

• Don't post your private keys (preferably);

• Don't click on any random link;

• Don't tell your taxi driver about your crypto wins.

But Kraken’s security chief, Nick Percoco, pointed out something we often forget:

You need to be careful even when you're surrounded by crypto people.

Crypto conferences are getting bigger, more crowded, and way more global - and while that’s cool, it also means more chances for scammers to blend in unnoticed.

So, let’s break down what the Kraken security team spotted at recent events:

1/ People leave laptops and phones lying around.

Unlocked. In work mode. In public.

Reminder: your device is your wallet. Lock it, or, even better - take it with you.

2/ Stop talking about big trades in public.

Kraken’s team overheard some guys talking about their trades - while wearing conference badges with their names and companies on them.

You never know who’s listening. Be lowkey.

3/ Don’t trust public Wi-Fi.

It’s not safe. Especially at events full of hackers.

Don’t do it - use a VPN or stick to your mobile hotspot.

4/ Be careful with QR codes.

They’re on every wall and booth - but one swapped sticker is all it takes for a scammer to drain your wallet.

5/ Not everyone is who they say they are.

Even if they wear a branded shirt or say they work at a crypto company - verify them and don’t overshare.

The main point:

Crypto’s going mainstream, which means the scammers are, too.

So don’t get lazy just because you’re surrounded by "crypto bros." Lock your stuff, keep quiet about your trades, and don’t trust every dude in a hoodie with a Bored Ape on it.

Just remember: you’re not being paranoid - you’re being smart.

🍋 News drops

🤔 Not sure if SafePal is the wallet for you? Here’s our no-nonsense review to help you decide.

💰 US officials are trying to seize $7.74M in crypto linked to North Korean IT workers. They faked their identities, got hired as remote blockchain workers, and got paid in crypto.

😠 The Trump fam-linked crypto company World Liberty Financial sent a legal warning to the “TrumpWallet” team for using Trump's name without permission. The wallet was promoted by the TRUMP memecoin team and NFT platform Magic Eden.

🧪 Uber’s checking out stablecoins to see if they can make cross-border payments faster and cheaper. They’re still in the early stages of testing.

👀 Someone sent Ross Ulbricht (the founder of Silk Road) around $31M in BTC. A blockchain investigation says the donation probably came from AlphaBay, a dark web marketplace.

🍌 Juicy memes