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Unchained
The Chopping Block: LA Vape Cabal, Market Meltdown, & SEC’s Crypto Pivot - Ep. 779
Feb 6, 2025
The chaos from Trump’s trade war leads to a massive liquidation day, rattling Ethereum and altcoins while Bitcoin remains stable. The bizarre LA Vape Cabal is introduced as a new player shaping memecoin culture. As altcoins struggle, the discussion shifts to the SEC's regulatory pivot and its potential to change the landscape for token issuers. The ongoing debate centers on whether the memecoin phenomena is fizzling out or just entering a new phase, blending concern with a glimmer of optimism for the future of crypto.
01:04:35
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Quick takeaways
- The podcast reveals how Trump's trade tariffs dramatically impacted cryptocurrency prices, causing a significant decline in Ethereum and altcoins, while Bitcoin remained resilient.
- A cultural analysis of meme coins highlights their allure and entertainment value, suggesting traders often prioritize excitement over rational investment strategies.
Deep dives
Market Reactions to Tariffs
The podcast discusses the significant impact of new tariffs imposed by the Trump administration, noting how they unexpectedly affected the cryptocurrency market. Ethereum saw a drastic drop, crashing as low as $2,100, which marked a more than 20% decline in just one day. Bitcoin also experienced severe fluctuations, dropping to about $91K, leading to record liquidations estimated at $2.2 billion, though some speculate this figure could be closer to $10 billion due to undisclosed trade data. This situation highlights the sensitive relationship between traditional market news and cryptocurrency valuations, with the market's volatility exacerbated by reduced liquidity over the long weekend.
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