Hey Guys,

Welcome to this week’s edition of The Phenom Weekly Update. Like the rest of the world we are attempting to make sense of a market that’s been more volatile than a caffeinated toddler on a trampoline. If you’ve glanced at the financial headlines or your portfolio lately, you’ve likely noticed the world’s gone a bit mad. Trump’s tariff tantrum escalated this week, slapping a jaw dropping 125% levy on China while pausing the “reciprocal” tarrfs on everyone else for 90 days. The result? A stock market shed $6 trillion, the bond market dumping and rebounding, and the crypto scene somehow both decoupled from TradFi and still reeling from the aftershocks. Bitcoin’s down, altcoins are tanking, and the only thing steady is the sound of investors muttering, “Wtf?” We think the bottom is in, especially with the 90 day pause but who knows. Its hard to forecast in these unprecedented geopolitical waters. What we do know is that we are buyers this week, loading up on projects we like that are selling at a severe discount. As Trump said “don’t be a panican”. Now is not the time for fear. Its the time to make money.

We are considering going to a daily update schedule instead of weekly. You would get a short update everyday of the latest news in crypto. It would be a shorter format with just the top headlines designed to give you the important hits in 5 minutes.

⬇️ Do us a favor and let us know what you think in the poll below. ⬇

READING CORNER

A collection of longer form content we are consuming this week 

Mining is set to explode under this administration. Don’t miss the update we sent to our commodities and mining newsletter, Gold Investment Letter 

Stablecoins are going to continue to eat the fiat system and print insane profits. This article provides a good primer for understanding their business model

NEWS

Quick Hitters from the week

1. FBI Investigates Elon Musk Impersonation in Crypto Laundering Scheme
   The FBI is probing a money laundering operation involving deepfake videos of Elon Musk used to promote a fraudulent crypto investment platform. 🔗 Read more

2. New York Bill Proposes Blockchain to Safeguard Election Results
   A newly introduced bill in New York aims to use blockchain technology to secure and verify election outcomes, enhancing transparency and trust in the voting process. 🔗 Read more

3. Trump-Linked World Liberty Financial to Test Airdrop System
   World Liberty Financial, the crypto project tied to Trump allies, will pilot a stablecoin giveaway as part of testing its planned airdrop infrastructure. 🔗 Read more

4. Ukraine Proposes Up to 23% Income Tax on Crypto Gains
   Ukraine is considering a new tax scheme that could impose personal income taxes as high as 23% on crypto profits, part of its broader financial reform efforts. 🔗 Read more

5. Mastercard Partners With Kraken to Enable Bitcoin Payments
   Mastercard has teamed up with Kraken to enable Bitcoin payments at 150 million merchants worldwide, expanding the real-world utility of crypto assets. 🔗 Read more

6. Stablecoins Are Top Bet for Crypto VCs in 2025
   Crypto venture capital firms are increasingly prioritizing stablecoin startups, seeing them as safer, high-utility plays amid regulatory uncertainty and market volatility. 🔗 Read more

7. Bitcoin Drops Below $80K in Sharp Two-Hour Sell-Off
   Bitcoin slipped under $80,000 after losing over 3% in just two hours, leading a broader crypto market pullback. 🔗 Read more

8. $1.6 Billion in Liquidations as Crypto Market Tanks
   Over $1.6 billion in leveraged crypto bets were wiped out in 24 hours, sending ETH to a two-year low and triggering a sharp market-wide downturn. 🔗 Read more

9. DOJ Shuts Down Crypto Unit Amid Trump-Era Regulatory Shift
   The U.S. Department of Justice has quietly dissolved its crypto enforcement unit as part of a broader rollback of digital asset regulation under the Trump administration. 🔗 Read more

THE TWITTERVERSE

A collection of the most interesting stuff on Crypto Twitter this week

During times of high volatility we could all use some money sitting in stables. Here is a breakdown of some of the best yielding stablecoins

Good reminder from famed investor Howard Marks, this is not a time to be fearful. Corrections like this are when money is made.

Oh good

MEMES

For the (crypto) Culture

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