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GM. This is Milk Road, delivering your daily crypto updates with more punch than an Ice Cube diss track.
Here’s what’s in the mix today:
- Trump’s pledge to crypto 🗳️
- A look at celebrity launched coins ✨
- PRO “Where are we in the cycle?” indicators 🤔
- Coinbase surpassed in spot volume by HTX 🍪
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
TRUMP’S PLEDGE TO CRYPTO 🗳️
Last Saturday, Donald Trump gave a speech at the Libertarian National Convention in Washington, D.C and boy oh boy was it bullish for crypto!
Didn’t happen to catch the speech, no worries, we got you covered. Here's what he said:
1/ “I’ll free Ross Ulbricht” 🕊
Who’s Ross? Ross Ulbricht founded the dark web marketplace Silk Road, where users could anonymously buy and sell goods online.
They were in business for 2 years before Ross was arrested and were widely considered the first real-world use case for Bitcoin.
Why was he arrested? During his trial, evidence showed that a lot of illegal activity was going down on Silk Road. Turns out drug trafficking and money laundering are heavily frowned upon by the authorities… Who knew? In 2015, he was sentenced to life in prison without parole. ⛓️
Well, it seems like that massive sentence could be coming to an end…
Crypto OGs and Libertarians hail Ulbricht as a martyr, shouting 'Government overreach' and arguing that Silk Road wasn't just a darknet marketplace—it pioneered a truly global open market enabled by crypto payments at scale.
They compare Ulbricht's sentence to SBF's as if one received a parking ticket for orchestrating a massive crypto scam, while the other faced the gallows in the public square for founding an open marketplace.
Fun Fact: Did you know that Milk Road got its name from a pun on Silk Road?
2/ “I will support the right to self custody” 🔑
This pledge tackles concerns about crypto users' freedom as the EU moves towards limiting self-custody wallet payments and monitoring crypto transfers, contradicting crypto's principles of ownership and privacy.
3/ “I will stop CBDCs in the USA” 💲
According to Trump, this is the government's golden ticket to control your money completely —a real danger to freedom that he's dead set on keeping away from American shores.
Trump wrapped up by promising to keep “Elizabeth Warren and her goons away from your $BTC” and end “Biden's crusade to crush the industry”, standing up for the 50 million crypto holders across the nation.
Regardless of your take on Trump, Biden, or the whole political spectacle, there’s no denying that this is the first “Crypto Election” of our time. For a deeper look, check out our latest episode on Milk Road Radio — where we unpack Trump's crypto pledges and what they mean for the upcoming election.
We touch on it here, but the episode explores ALL the details in a cool 20 minutes.
Tune in for the full story! 🎧👇
YouTube | Spotify | Apple Podcasts
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HOW CELEBRITY CRYPTO PROJECTS HAVE PERFORMED 🚀
Speaking of celebrities endorsing crypto…
Caitlyn Jenner recently took advantage of the Trump crypto train and jumped into the fray by promoting her own token, $JENNER, on social media.
This move, like many celebrity-endorsed crypto projects, has sparked a mix of excitement and scam skepticism. Well… it took a whole 36 hours for us to get our answer here.
Caitlyn Jenner isn’t the first celebrity to dive into crypto.
From Floyd Mayweather’s ICO promotions to Lindsay Lohan’s NFT ventures, celebrities have been trying to capitalize on the crypto craze for a while now.
Historically, most celebrity-endorsed projects have underperformed or failed outright.
Check out this graphic:
The internet sleuths did their job and tracked down info on this Sahil guy and his network of scams. You can read the TLDR here.
Milk Man PSA: At the end of the day, celebrity coins often flop because the celebs don’t really care about the project. They might just want a quick bag.
Caitlyn Jenner golfing while her coin tanks is a prime example. So, the next time you see a celebrity hyping a coin, remember: if they’re not deeply involved, maybe you shouldn’t be either.
Stay skeptical, and as always do your own research.
What do you think about celebrity-endorsed crypto projects, are they worth the risk?
A/ Yes
B/ No
Hit reply and let us know with your comments!
PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔
Crypto moves in cycles, and knowing where we are in the current cycle is crucial for capturing the best opportunities.
The goal is to spot the bull market peak before the inevitable bear market hits your bags hard.
Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late.
Here are the 5 indicators we track, with a color-coded system to show how close they are to signaling the market peak:
🟢 Plenty of room to run 🏄
🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️
🔴 We’ve hit the market top indicator 🚨
Every Tuesday, we update these 5 indicators exclusively for PRO members.
Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point.
Let's dive in and see if we're anywhere near the top of this bull market. 👇
