Today’s edition is brought to you by ZKX – the first Social Perp Trading DEX.
GM. This is Milk Road, where we milk the crypto news cow so you don't have to. 🥛🐄
Here’s what we got for you today:
- SEC’s top 5 L’s 🤡
- Should you be bullish on memecoins? 🐂
- Funding Friday 🤑
- Grasping portfolio allocation 👀
- Memecoins move after Trump found guilty 🍪
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
TOP 5 SEC L’S: THE LOSSES KEEP COMING! 🤡
It's Friday, Roadies! If you're anything like the Milk Man, you're ready for the weekend. Go easy on the milks.
Today, let’s kick back with some fun as we reflect on the SEC’s biggest blunders that have given us all something to talk (and laugh) about.
Let’s break down the top 5 SEC L’s that have rocked the crypto world.
1/ Grayscale Bitcoin ETF reversal 🏆
The SEC denied Grayscale's application to convert its Bitcoin Trust into a spot ETF.
The Court of Appeals for the D.C. Circuit ruled against the SEC, calling their reasoning "arbitrary and capricious."
This decision criticized the SEC for inconsistent standards and set a significant precedent for future crypto ETF applications.
2/ Ripple’s legal victory over the SEC 🌊
Ripple challenged the SEC’s classification of XRP as a security.
The court ruled in favor of Ripple, questioning the SEC’s authority and their interpretation of securities laws.
3/ Ethereum’s a commodity 🤷♂️
The SEC has been ambiguous about whether $ETH is a security or a commodity. Gary Gensler has even contradicted himself on this direct question over the years.
The recent approval of an ETH ETF all but confirmed it’s deemed a commodity.
4/ The unauthorized BTC ETF tweet 🐦💣
An SEC Twitter account was hacked, falsely announcing the approval of Bitcoin ETFs.
The market reacted with big volatility before the SEC clarified the misinformation. Turned out they didn’t even have 2FA security turned on… Imagine that, the ones in charge of securities didn’t have two factor authentication on their social media account.
5/ Debt Box drama: The SEC’s costly mistake 💸
The SEC froze DEBT Box’s assets and put it into receivership, based on false and misleading evidence.
A federal judge sanctioned the SEC and ordered them to pay $1.8 million in legal fees.
The worst part? The taxpayers will foot the bill… Even when crypto wins, we lose LOL.
But at the end of the day, the SEC’s Slip-ups are our Gains.
From courtroom defeats to cybersecurity fails, the SEC’s recent blunders are paving the way for a more balanced regulatory landscape.
These events are shaping the future of crypto regulation, proving that the road to clarity is at the end of the tunnel.
We want to know! Will Gary still have his job by year end?
A/ No shot - he’s cooked before November
B/ Buzzer beater - he’ll get fired right around year end
C/ Yes - Gensler’s SEC era will continue in 2025 Hit reply with your comments and let us know!
THE FIRST SOCIAL PERP TRADING DEX
Imagine a program that rewards you in USDC, grants you eligibility for airdrops, and offers an extra $5000 reward. That’s exactly what the ZKX Referral Program offers!
ZKX, the first Social Perp Trading DEX is making waves with its competitive referral program. This program allows you to invite friends to join and contribute to ZKX's growth, with the chance to win fantastic rewards:
- Payouts in USDC
- Eligibility for ZKX Airdrop, round 2
- Additional rewards in the Monthly Pot
- Access to exclusive affiliate tiers (invitation-only)
Keep tabs on your progress and rewards with a slick, real-time dashboard & leaderboard.
Your friends? They get to trade on a platform with a top-notch UI/UX, rewards in both $ZKX & $STRL, self-custodial account, no gas fees, instant settlements, and more
It’s a win-win scenario – join the program now!
SHOULD YOU BE BULLISH ON MEMECOINS? 🚀
Memecoins get a lot of flack for lacking fundamentals, but guess what? They dodge one of the riskiest bullets in crypto investing: Token Unlocks. 💥
"VC tokens" pump for a few months, then the unlocks start, and early investors dump their bags, crushing the price.
It’s like a never-ending game of whack-a-mole... but with your money.
Memecoins laugh in the face of this. Most are fair launches with supply management and technicals that are often better than “VC tokens”.
Plus, they’re hilarious and enjoyable. Community matters! 🎉
OSF, the mastermind behind the wrecked guy NFT collection and a former Barclays trader, breaks down why he’s all-in on meme coins this bull cycle on Milk Road Radio.
Curious? Tune in and get the scoop from OSF himself! 👇
YouTube | Spotify | Apple Podcasts
IT’S FUNDING FRIDAY 🤑
Welcome back to Funding Friday! This week, $151.5M total was raised by crypto companies.
1/ Babylon raises $70M
What they do:Babylon integrates Bitcoin's security with Proof-of-Stake (PoS) chains, enabling Bitcoin staking on PoS blockchains without intermediaries.
Who led the round: Paradigm
Babylon is bridging Bitcoin’s old-school PoW with the new-age PoS like a crypto marriage counselor.
2/ Chainge raises $13M
What they do:Chainge is a DeFi project focused on cross-chain asset management, offering services like lending, borrowing, and staking.
Who led the round: GEM Digital and Alpha Token Capital
Chainge is like the Rambo of DeFi, a one-man-army ready to handle all your cross-chain needs.
3/ Cysic raises $12M
What they do:Cysic uses zero-knowledge proof technology to enhance blockchain security and privacy.
Who led the round:Hashkey Capita l and OKX Ventures
Cysic is making crypto transactions as secretive as a ninja at midnight.
Honorable Mentions:
- GaiaNet Raises $10M to integrate AI with DeFi, led by ByteTrade and Mantle.
- Switchboard Raises $7.5M to provide decentralized oracle networks, led by Tribe Capital and Rockaway Blockchain Fund.
- El Dorado Colombian crypto wallet raised $3M in a seed round led by Coinbase Ventures.
We’ll keep an eye on where that money flows—like a hawk watching over its crypto nest. 👀
And if this funding news didn't pump your bags this week, hopefully it pumped your spirits! 🎉
HOW TO GRASP PORTFOLIO ALLOCATION 👀
In case you missed it, we dropped a bomb yesterday – we revealed the Milk Road PRO Portfolio.
This is a simulated portfolio reflecting the Milk Road PRO research team's view of what an ideal crypto portfolio could look like.
It includes a list of assets, percentage allocation for each asset in the portfolio, context for why each asset is included and more…
All to help you learn to manage your crypto investments, allocate capital and take profits successfully in crypto.
BITE-SIZED COOKIES FOR THE ROAD 🍪
Deeplink has joined the NVIDIA Inception Program — a unique program that nurtures startups at various stages of their cycle. This is a step into a future where connectivity is intuitive, efficient, and all-encompassing.*
Pudgy Penguins to release mobile game in 2025. Developed in partnership with Mythical Games, this immersive experience will bring the beloved penguin-themed NFT collection to life on your mobile devices.
Political memecoins heat up after jury finds Trump guilty in historic trial. $TRUMP and $BODEN memecoins fluctuated wildly following the guilty verdict in Trump’s hush money trial. The "FreeTrump" token surged 330%, while other Trump-related coins experienced significant drops.
Tether invests $150M in crypto mining firm. The stablecoin issuer has invested in Bitdeer, Jihan Wu’s cryptocurrency mining company. This move is will enhance collaboration on key infrastructure and accelerate Bitdeer's sustainable Bitcoin mining.
Crypto market braces for $875M token unlocks in June. Nearly $875 million worth of crypto tokens from projects like Aptos, Arbitrum, Starknet, and Sui will be unlocked as vesting periods end. This significant event is expected to impact the market dynamics throughout the month.
Wanna team up with the Milk Man?We currently have 3 positions open – check ‘em out and apply here!
*This is sponsored content
MILKY MEMES 🤣
RATE TODAY’S EDITION
What'd you think of today's edition?
Login or Subscribe to participate in polls.
ROADIE REVIEW OF THE DAY 🥛
ROADIE REPLY OF THE DAY 🥛
In yesterday’s daily we asked you which L1 powerhouse are you cheering for ETH, SOL, or OTHER… well 60% of you voted OTHER!And here is the reply of the day:
VITALIK PIC OF THE DAY
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
