Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. FBI Raids Polymarket CEO’s Home: FBI agents conducted an early-morning raid on Polymarket CEO Shayne Coplan's residence, seizing his electronics.

2. Silk Road Founder Clemency Hopes: Ross Ulbricht, founder of the Silk Road marketplace, has expressed renewed hope for clemency after Trump’s re-election.

3. 📈Technical Analysis Masterclass - Pepe has recently surged to an all-time high, currently trading at $0.00002. Watch UseTheBitcoin’s latest Youtube video “Pepe Coin Hits All-Time High! Buy NOW or Wait?” to avoid FOMO-driven trades or join our Official Telegram Channel for more alpha!

4. 💡Feature of the Day - South Korea’s Biggest Crypto Scam: South Korean authorities have dismantled a large crypto scam allegedly led by influencer "Mr. A," who defrauded over 15,000 investors—mostly elderly—out of $232 million.

   
   All this and more in today’s headlines!

📰 News Highlights:

FBI Raids Polymarket CEO’s Home [Source][Source]

In a dramatic early-morning raid, FBI agents entered the home of Polymarket CEO Shayne Coplan, seizing his phone and electronics.

While the FBI hasn’t formally charged Coplan, speculation is rife about the agency’s intent.

Polymarket, a decentralized betting platform that allowed billions in bets on the recent election, claims the raid is political retribution from the outgoing Biden administration due to Polymarket’s prediction markets favoring Trump.

Coplan’s legal team argues the FBI could have requested information directly, rather than orchestrating what they call “political theater.”

Silk Road Founder Clemency Hopes [Source][Source]

Ross Ulbricht, the founder of Silk Road, expressed renewed hope for clemency following Trump’s re-election.

Serving a life sentence for multiple charges, including drug trafficking and money laundering, Ulbricht has become a symbolic figure in the crypto world.

In a heartfelt post on X, he shared his optimism, hoping Trump will fulfill his campaign promise to commute Ulbricht's sentence on “day one” of his term.

 📈Technical Analysis Masterclass:

Pepe Coin Hits All-Time High! Buy NOW or Wait?

Understanding Pepe’s Price Patterns

• Past Price Movement: Previously, Pepe broke out of a consolidation zone but then retraced, returning to its previous level. This retrace allowed the formation of a strong support level, providing a more stable base for further gains.

• Current Situation: Pepe has broken out again but hasn’t yet retraced to its previous consolidation zone to establish a new support level. For conservative traders, this is a signal to wait, as buying after a pullback often results in a stronger entry point.

Trading Strategy: Balancing Patience and Flexibility

1. Wait for a Pullback: Ideally, wait for Pepe to retrace to its previous consolidation level. This allows you to buy at a stronger support, reducing the risk of entering at a peak.

2. Small Position with a Stop-Loss: To account for the chance of a continuous “parabolic” move, consider buying a small position with a nearby stop-loss. This strategy lets you participate in case of further upward movement while managing risk.

3. Increase on Retest: If Pepe returns to the consolidation zone, add to your position. This way, you build a stronger entry point, averaging your cost if the asset gains stability at the support level.

💡 Feature of the Day: 

South Korea’s Biggest Crypto Scam [Source][Source][Source]

South Korean authorities have dismantled a massive crypto scam allegedly orchestrated by a popular influencer known as Mr. A.

Operating through sham companies and promoting through a YouTube channel with over 620,000 followers, Mr. A and his accomplices defrauded more than 15,000 investors, many of them elderly, out of $232 million.

The scheme involved selling worthless cryptocurrencies and manipulating their prices, targeting unsuspecting investors.

Authorities have seized 22 Bitcoin and filed for an additional $34 million in asset confiscations.

Today’s Sponsor:

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😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

Buy, sell, store, and convert crypto with today’s sponsor Gemini, full-reserve and highly-regulated cryptocurrency exchange and custodian!

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com