Hello, this is Coinscript.

This episode is brought to you by Koinly.io, your new best friend when it comes to crypto taxes!

In today’s episode:

• ✍️ Trump Signs Executive Order Promoting Crypto

• 1️⃣ Hackers Hit Phemex and Steal $29M

TOP STORY

Trump Signs Executive Order Promoting Crypto

Alright, now we’re talking!

Trump signed an executive order to Make America the World Capital of Crypto.

Their goal? Building a national digital stockpile.

Meanwhile, SEC’s Chair Mark Uyeda launched a Crypto task force aimed at developing a comprehensive and clear regulatory framework for crypto assets, two days ago.

HOW DID THE MARKET REACT TO THIS INFORMATION?

So, if our math is mathing and 1+1 is 2, then this kind of news will push the price to new all-time highs, right?

Noup.

The market looked at the news and said “Okay, time to sell”

Yup, this is how we do it in crypto! 😎

Nevertheless, the market recovered pretty fast since then, but still! Come on!

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HONORABLE MENTIONS #1

Hackers Hit Phemex and Steal $29M

We probably will never stop talking about the importance of having a cold wallet.

Why? Because if you had a Trezor wallet, your funds would have remained secure, completely protected from incidents like what happened to Phemex users.

Crypto exchange Phemex was hit hard this week by hackers stealing around $29M worth of USDT, USDC, ETH, and other assets from its users.

In response, Phemex has suspended withdrawals and is working on a compensation plan.

“Oh they are working on a compensation plan, all good then!”

No. This still means that users won’t be liquid until they get anything back. Also, this isn’t a guarantee that they will even receive back their funds in full if anything.

Stay safe out there!

Meme 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.