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folks, we've got to start by talking about bitcoin. Bitcoin currently at seventy six hundred and eight dollars, still bouncing between the sixty eight to seventy one thousand dollars range, still moving sideways. But the big news of the day is that inflation came in hotter in then expected in March. To CPI to Consumer Price Index rows zero point four percent over the previous month and three point five percent over the prior year in March. So what does that mean?
The Fed is not cutting rates anytime soon. There were talks of a cut coming in June, and this aligns with my thesis what I've been sharing with you guys over the past a couple months. The blow off top could happen this year because the markets are front running the ray cuts. Because historically we've seen according to the data, now that when there's RAY cuts, when the FED truly pivots and starts cutting, the markets take a massive dump. Guys. I'm not making this up. This is the data. I did a
full newsletter on it. So that could mean once again the markets are front running. This includes the stock market, Bitcoin, all coins and so forth. We see the blow off top this year. Now, this is just a thesis. It's not guaranteed that it's going to happen, but we want to be prepared for all scenarios. Now, if the RAY cuts come after the election, which I think they will, I don't think the Fed is going to cut ahead of the election because of the impact on markets. I
think they're going to maintain the current rates to cool down inflation. Some people are saying they may raise. I don't think they're going to raise. I think they're going to keep it as is. It would be much easier just maintain the rates at what they're at to not show any type of favorability to the election and the current sitting president, and much more so, the dx Y on that news massive green candles. So this is why I often tell
you, guys, when we're watching these scenarios play out. I often say it has to confirm itself, it has to prove itself right, whether it's a rally or it's a breakdownward. So we were seeing a breakdownwards with a DXY and today massive reversal with a massive green candle on not hot inflation news. So my hope is that this pump, though for the CPI, is
short lived. Maybe it lasts for another couple of weeks and then the Bitcoin having is rolling around and then we see the markets continue to move up. So we'll just have to wait and see how things play out. But right now we have to be cautious because Bitcoin could break down further. Right we have this bullish ascending triangle forming here. However, there are scenarios where this
thing breaks down, and my hope is that it breaks upwards. So maybe Bitcoin continues on this trajectory for the next couple weeks, who knows, and then breaks out, But once again not guarantee. There is a bearer scenario here. We have to look at both the bullish and the bearers scenarios, so we'll have to wait and see. But that's what's happening. The DXY pumping based on hot inflation data and a massive green candle on a dollar,
folks, So we have to be patient here, r folks. I'm sure many of you heard this news already, but scumbag regulator Gary Ginster and the SEC are up to no good again. Today UNISWAP Labs received a wells notice from the SEC and they said they are ready to fight. This is the latest political effort to target even the best actors in crypto like uniswap and Coinbase. All UNISWAP products and UNISWAP protocol are unaffected. So, folks, we've
been seeing the SEC attacking the industry. They're attacking good actors. They've failed many times in stopping bad actors like FTX, like Celsis and so forth, and I think that was part of Gary Ginster's plan. We've seen so far. They don't abide by the law. They are hypocrites. They will lie, they will stab you in the back. That's been established right. They got called arbitrary and capricious in the core in the Debt Box case. The
judge sanctioned the SEC lawyers. In the Ripple lawsuit, Judge Sarah net Burns at the SEC lacked faithful allegiance to the law. Currently, the SEC saw one two one bulletin that they put out there was unlawful, and Congress is looking to repeal that. So there's a whole list of things where they've done
unlawful activities. So they're going to try to stop the good actors because the game is to kill off as many of these crypto startups as possible so that their banking incumbent friends who are controlling Elizabeth Warren and Gary Ginster can come in and take over. So scumbag regulator Gary Ginster added again, and for those of you who don't know about uniswap, it is a decentralized exchange where you can swap, earn and build and trade crypto from a decentralized standpoint. It
runs on etherorem and a few other chains. So the folks at uniswap said they are going to fight this, and that's the great thing about where we find ourselves. The industry is going on the offensive. Coinbased counter seuing, cracking, countersuing. Uniswap is gonna fight back. Ripple fought back, and you have various small exchanges and projects that are suing the SEC without any type of Wells noticed or anything like that. And I've talked about it with different
folks who I've interviewed. You know, the only way to stop a bully many times is to fight back, to punch back. And I think the industry going on the offensive, not being afraid anymore and saying you know what, Okay, you want to sue us, We're gonna sue you too,
I think is the way forward. So the folks at UNISWAP said, we are confident that the products we offer are not just legal, they are transformative, empowering people across the world by enabling transparent, verifiable markets with fewer gatekeepers, enabling cheap, accessible, global economic participation. Despite sec rhetoric that most tokens are securities, the reality is that tokens are just a digital file format.
The vast majority of tokens traded on UNISWAP are definitively not securities, just like most paper is not stock certificates. They are stable coin community tokens, commodities like bitcoiny Theorem, and unisox. Tokens traded on secondary markets like UNISWAP are not investment contracts, and the UNISWAP protocol itself is a decentralized, autonomous set of smart contracts that run without any organization, individual, or entity behind
them, not a securities exchange. We are confident that our products are on the right side of the law and that our work is on the right side of history. While our legal team takes on this fight, will continue to do what's best built. So I love it. Don't cower to scumbag regulator Gary Genser and his cronies. Fight back, and we're seeing in the courts. Guys, we're taking a lot of victories. And here Hayden Adams, who is the founder of uniswap, shared some thoughts on this. He said,
today uniswap Labs received the wells notice from the SEC. I'm not surprised, just annoyed, disappointed, and ready to fight. I am confident that the products we offer are legal and that our work is on the right side of history. But it's been clear for a while that rather than working to create clear, in formed rules, the SEC has decided to focus on attacking longtime good actors like uniswap and coinbase, all while letting bad actors like FTX
slip by. And remember, Gary and the SEC were meeting with Sambek Benfred multiple times, yet did nothing to stop it. Right, folks, he says, when I first set out to build UNISWAP, the goal wasn't to reimagine finance. It was an experiment in radically decentralized, fully automated on chain markets. I didn't know if it would work or if anyone would use it. Fast forward today, the UNISWAP protocol has processed over two trillion dollars in
volume. Many thousands of teams and developers have forked our code or built on top of it. We built entirely new financial infrastructure that is transparent, fair, secure, and accessible, powering and entire industry. Now, he continues, I'm not going to read through the entire thing. You guys can certainly check him out at hayden z atoms on X and you can read through the full thread. Now Here, we got some different attorneys and lawyers and legal
experts weighing in here. Adam kock Grin weigh in saying unbelievable. UNISWAP is six years old. For six years, the SEC also failed to provide any guidance on the space and now sends them a wells notice. Let's be really effing clear on something here. Uniswap Labs is a software publisher. They publish open source code and an open source front end. Unless this wells notice specifically relates to uniswap x routing, which even then is questionable, this is absolutely
beyond the scope of the SEC. Furthermore, the SEC has had years to provide guidance on these behaviors and choose not to. In fact, some of Uniswap's products are so old now they are actually outside the statute of limitations for certain violations of the Act. This SEC has continued to embarrass itself in courts with political cases that it cannot win time and time again and create a chilling effect in the US markets. And now they choose to go against another legitimate
operator rather than countless scams. Helthough they lost the Ripple case on the grounds of programmatic transactions not count as securities transactions, the wallet as a broker argument was throwing out in the coinbase case, and now they want to try front end as a broker, he asked. More importantly, if they take fault with the code itself, they'll open up themselves to an entirely new landscape because your right to publish code is protected by free speech, so he continues,
but that's the gist of what he's saying here. Now. Bill Hughes, who's a lawyer at Consensus and I actually interviewed him today and we talked about Ethereum and the SEC's plot and plan to make etheremist securityor and categorize it as a security. I'll have that interview published, possibly by Monday or so. He did share some great thoughts here as to what may be happening. He said, Steady, lads, I'm seeing signs of some getting a bit spooked
and wondering if they might be in harm's way. In light of the news, UNISWAP just dropped a couple of things. One, UNISWAP was just informed that the SEC staff is going to recommend to the Commission that they approve a suit. Now we all know that the chair wants to suit them and two commissioners are not going to disagree, and two will disagree. So a suit
is a foregoing conclusion. But there isn't a suit yet. Number two, it will take time to see the actual claims, but it is extremely, extremely doubtful that the SEC could now or in the future, go after any UNISWAP token holder, governance participator, or user. If you are one of those and a little freaked out, take a breath and calm down. If they were also going to sue you, then you'd be getting an email from the SEC asking to talk to you on the phone. You aren't going to
be getting one of those, so relaxed number three. These things play out over long timelines, and during that intervening period, like Hayden Adams said, the platform is unaffected and labs will continue to work on the software projects they have been working on. So this is just the first of it. Time to remember your reason for being here. So, folks, we're going to keep fighting. We're winning in the courts and of course Congress is trying to
get legislation through. Until they do, we'll have to keep beating Gary Ginster in the courts. And the great thing, folks, the judges and so far they're not putting up with the lies and hypocrisy and all the nonsense the the SEC making things up as they go. They're calling out all the unlawful activities by the SEC. So that's a great sign. But guys, I think until Congress acts. We can expect to see more companies, more projects getting sued, but you know, we are on the winning side of history
here, and once again the industry is going on the offensive. So it's not like it was a couple of years ago where people were scared. Right If you guys remember I kept tweeting at Brian Armstrong, CEO Coinbase after the Ripple lawsuit, like, hey, time to join up a ripple, Time for the industry to come together, beat the leader, Brian, I'm strong right now. They eventually did that, but it was until they got a
Wells notice. And in my interview with Paul grew Wall, right before they got the Wells notice, I asked them, I said, Paul, you know, are you going to fight back or are you guys going to go on the offensive here? And everybody will still hesitant because they didn't want to. They kind of wanted to lay low and maybe the SEC won't notice us. But Gary answer is a scumbag. He's coming after everything. The goal here is not to try to protect consumers. The goal here is a political
move to protect the incumbents that are getting disrupted. So it is what it is. But the good thing once again, industry is going on the offensive. We are fighting, we're winning in court and UNISWAP is ready to fight. Here now, guys, quickly from our sponsor, and that is Vchain. Vchain is one of the top Layer one enterprise blockchains out there that is
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in the description or visit vchain dot org. Well, let's move ahead, folks. Solana developers target April fifteen per failed transaction fix. It's not a design flaw, is a quote in the headline. So Solana's percentage of failed non vote transactions went over seventy five percent last week and the developers are now targeting a fix to be implemented on April fifteenth. So, guys, I hold a soul token. But I've often stated to you guys, and I'll
say put one hundred time. I'm not a long term believer in Solana. I'm trading it because I see a lot of vcs, a lot of liquidities entering the market via Solana. So that's my play on it. But there's tons of meme coins and much more building on Solana, so that's good. But it keeps having downtime and failed transactions and that's not you know, that's
not going to help bring in the next billion people. So they got to fix this, and I'm not saying they can't, but they've had so many downtimes and they continue to have these big problems that many other blockchains don't have. So we'll see where it goes. But that's my play. I know some of you listening or watching are super bullish on Salon on a long term I'm personally not. I'm just playing the market cycles. So here's the quote.
Salona's current issue is not a design flaw, it's an implementation bug. Stress Merked Mumtaz, the CEO of Helios Labs, a blockchain infrastructure firm that provides back end support exclusively to the Salona network. It is important to make this distinction because implementation errors are usually trivial, while design errors are generally serious and more fundamental. Mumtaz explained to his one hundred and eight thousand X followers
on April eighth, So let's see what they can do. If they can actually fix this and it can continue to perform well, or have these downtimes and failed transactions and much more, which is not good for the long term adoption of Solana. Now let's move ahead. Restaking protocol eigen Layer heads to Etherreum maynet, so let me give you the details here. Eigenlayer, the highly anticipated Ethereum restaking protocol that has attracted billions of dollars worth of customer deposits,
when to main Neet Tuesday afternoon. Eigenlayer's data avail ability solution, named Eigenda also went live as an actively validated service built on top of eigen Layer. The launch came with training wheels of sorts, however, as critical components of eigen Layer are not set to go live until later this year. Etherorem is secured by Ether that is staked or pledged to earn yield in return for
accurately verifying transactions. Eigenlayer takes this a step further with restaking, which allows steak eth to be restaked and used to secure and run AVS's, which are various blockchain based platforms built on eigen layers. So we'll see, folks, this sounds promising and we'll see if everything goes well as it goes to MAInet. Now, Paradigm leads two hundred and twenty five million dollars round for high throughput blockchain Monad Modad is set to go to MAInet by the end of twenty
twenty four, says the first time I'm hearing about this blockchain. So Monad Labs, the developer behind a forthcoming Layer one blockchain focus on high throughput and etheroreum compatibility, announced a hefty two hundred and twenty five million dollar funding led by Paradigm on Tuesday. Despite being far less active in twenty twenty one,
the crypto venture sector continues to show renewed vitality. Monad's raise is the largest crypto venture round since Wormhole's two hundred and twenty five million dollar hall in November of last year. Electric Capital, Coinbase Capital, and several other firms participated the announcement comes as Solana, which also hopes to offer Etheroreum like features with even better throughput, struggles to process the wrath of transactions enabled by its low
fees. Up to seventy seven percent of transactions were dropped instead of included in Solana blocks at times. Last week, When asked about Solona's dropped transaction debacle, monad co founder and CEO ke On Hahn gave a lengthy technical explanation, saying, sorry, this is a very long answer on parenthesize before diving into how RPC nodes handle spam. The co founder of crypto's largest Mega round recipient spent roughly a decade as a traditional finance quant before more recently working at Jump
Crypto. So guys, you know, we just talked about Solona in the downtime, you know, just competitors coming up, and like I said, if Solana wants to compete, it has to make improvements. So we're going to see where this goes. But this is a lot of money these folks have raised here, and this this is a project I'm going to look into
and see. You know, if I want to take a position, I'm often looking at what the vcs and investment firms are doing many times that you know, the coins that are being invested in heavily, they do well, you know from a price appreciation standpoint, So this is something to keep an eye on. This is why I'm sharing this news with you or a folks friendly reminder. Next week, April sixteen, my book will be launching on
Amazon. I'll of course notify you guys once it's live, but it's called Rethinking Crypto, the Crash of FTX and rise of say for stronger digital Assets. I'll put a linked in the descriptions so you can go to the website
to learn more about this book. It's a great story that covers all the big things that are happening in crypto, the history, what happened with FTX, why that was in the ethos of crypto, the regulatory battles for example SEC versus Ripple SEC and Grayscale, the bigcoin ETF race, what does the future of crypto look like? Toganization, stable coins, CBDCs, NFTs, and much more So. You don't want to miss out on this book, folks, So once again link will being the description for you to go learn
more on our website. Also, a friendly reminder. I'll be at the DC Blockchain Summit in May May fifteenth and sixteenth, and I'll be there for both days, the Summit day as well as the Blockchain Education Day. I'm actually more excited for the Education Day because we get to go to on Capitol Hill. So I'll be blogging, blogging and much more. If you guys would like to attend, you're going to be in the DC area. This is being put together by the Chamber of Digital Commerce. You can get tickets
and you can use my code thinking So to get a discount. Link will be in the description for you to go check it out. Once again, I'll be there and look forward to seeing some of you there and we could talk about crypto going Capitol Hill. There's some great speakers who are going to be there, members of Congress Patrick Henry hes S Purse, Mike Flood, Congressman Mike Flood, and a bunch of other people. You can check it out, folks, and it should be a good time at the summit and
the education Day. All right, folks, thank you for watching and listening. Thank you. I appreciate you all, and I'll talk to you all later.