Bitcoin Plus ETF, a New Pepe Airdrop, and David Sacks, Oh My!

This market, man… I  just watched a mass dump across all coins. It wasn’t substantial, but still. Who is coordinating this?

The cryptocurrency market experienced a mass dump on Friday, with most coins taking a hit. The sell-off was not significant, but it did leave many traders wondering who was coordinating the move and why.

Meanwhile, Trump Media and Technology Group (TMTG) is making a play to launch a “Bitcoin Plus” ETF under the Truth.Fi brand. Trademark filings filed by the group on Friday show plans for ETFs, including the Truth.Fi Bitcoin Plus ETF.

The move comes as Bitcoin ETFs are seeing a surge in activity following recent regulatory nods for spot Bitcoin funds.

The timing of all this aligns with a surge in Bitcoin ETF activity, bolstered by recent regulatory nods for spot Bitcoin funds.

On the other hand, there is no Pepe Airdrop. Be careful out there. Scams are still as ubiquitous as broke Gen Z young adults.

It’s a good time to remind you the first step to avoiding crypto scams is shining a spotlight on their tactics by telling your friends, family, and loved ones. If someone sends you a message, no matter how affable or in some cases, coercive, never share any of your private information or funds.

And if you have been scammed and fallen victim, as most of have at some time, there’s no point regretting the past when it offers so many lessons. Just remember, there are always people willing to take advantage of you.

People thought David Sacks of PayPal Mafia and All-In Podcast fame and his bros would lay out some sort of imminent and amazing plan for crypto.

Yet, in his first press conference as Crypto Czar, all he essentially said was, “We’re working on it. Give us 6 months, something, something, internet of value, internet 3.0.”

The market is fickle, but crypto is finding it hard to perform in Trump 2.0 due to his manic, yet still strangely effective, administration.

With new SEC chair Hester Peirce at the helm, the SEC task force is poised to move crypto regulation from murky to manageable. Its mission is to craft usable rules for digital assets under SEC jurisdiction, establish workable registration pathways, and simplify compliance for the industry.

“The SEC has tools that it hasn’t utilized effectively in the past. This task force represents a process to start real conversations about regulation,” said Kristin Smith, CEO of the Blockchain Association.

Peirce likened previous efforts to a nightmare road trip, bogged down by “enforcement brakes” and aimless wandering. She promises a more defined course this time.

So, we’ll see. David Sacks could be a beacon for crypto but the jury is out. That’s all we got for Feel Good Friday, as always go touch grass this weekend.