OVERVIEW

Tax Dodging 101: How to Lose $13 Million in NFT Profits Really Fast 🧠 

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total market and altcoin market cap charts:

NEWS IN THREE SENTENCES
Crypto News 📰

🎣 Phishing Mastermind Gets 8 Year

Turns out even the slickest criminal masterminds can’t outrun blockchain analytics (or British cops). Zak Coyne, creator of phishing service LabHost—which defrauded over a million victims out of $132 million—was sentenced to 8.5 years in jail. Coyne cleverly accepted payment in Bitcoin, accumulating $230,000 in crypto profits before authorities pulled the plug. Decrypt.

💸 PumpSwap Hits $2.5B Weekly Volume

Somewhere, a legitimate blockchain dev just rage-quit their job. Pump.Fun’s PumpSwap DEX processed an absurd $2.5 billion in weekly trades, generating over $1 million daily in fees. More than 500 wallets earned at least $1 million last week, proving you don’t need good ideas to get rich in crypto. Cointelegraph.

🤖 AI Tokens Tank as Nvidia Traders Brace for Impact

AI-related crypto tokens sank after suspiciously bearish Nvidia options trades suggested someone’s expecting the AI hype bubble to pop soon. Nvidia’s ambitious plan to build AI supercomputers in the U.S. evidently wasn't enough to stop investors from panic-buying puts like toilet paper in a pandemic. CoinDesk.

🐋 Tether Joins Ocean to Decentralize Bitcoin Mining

$USDT.X ( ▲ 0.01% ) partnered with Ocean to decentralize Bitcoin mining pools, challenging giants like AntPool and Foundry USA—who currently mine over 66% of blocks. Ocean currently controls roughly 1% of the mining market, meaning this move is like throwing a pebble at a whale. Still, points to Tether for believing it can single-handedly dismantle centralization by mining a handful of blocks from El Salvador. ZyCrypto.

☁️ AWS Outage Takes Down Major Crypto Exchanges

An AWS outage temporarily crippled Binance, KuCoin, and several other exchanges, reminding everyone exactly how decentralized crypto really isn't. The incident reignited calls for decentralized cloud alternatives like Filecoin ($FIL.X ( ▼ 1.28% )) and Akash ($AKT.X ( ▼ 0.39% )). ecoinimist.

PRESENTED BY STOCKTWITS
Trends With Friends: The Ethereum Story 🎞️ 

Howard, Michael, Phil, and Tom are joined by special guests Chris Temple and Zach Ingrasci, the filmmakers behind “The Ethereum Story.” This jam-packed episode explores macro madness, market sentiment, and crypto’s conflicted future.

From record bearishness and VIX spikes to what Vitalik Buterin’s life really says about decentralization, the crew unpacks the psychology of investors, the global AI race, and the business of storytelling in a fragmented media landscape. 👀