The Dypto Times

Trump pump and post-hype dump, crypto paying the bills, and Gensler is a goner

Author

Matthew Ruley
November 27, 2024

The Biden administration went after crypto pretty hard. People lost faith. The innovators we needed left the country for more crypto-friendly locations with more sun and lower rent.

Gary Gensler (SEC Boss Man) said he was doing what he did to protect the American people. The government’s job is to protect us…from ourselves? We have to ask…was that really the case? A new study shows that people taking care of their own money and not being treated like children are doing just fine.

For anyone who is new-new to the crypto game, you may be wondering about some of the price volatility you’ve seen lately. We’ve got the deets on that and everything else we just mentioned. Let’s rock.

Crypto Headlines of the Week

At Dypto Crypto, we care about new crypto users. Our goal is to help you get started on the right track so you have what you need to help yourself be successful. That’s what crypto is all about!

But if you’re new to the space, the most popular news sites dedicated to the industry aren’t really beginner-friendly. Most of the information is for intermediate to advanced users or for people so degenerate that most people have no clue what the article is trying to do, much less what it’s about. Memers…we’re talking about you.

So we did what any reasonable outfit would do. We made our own newsroom.

TLDR

  • US government research finds investors that low-income earners who took heavy profits in the last bull cycle are doing well.

  • They are buying houses and vehicles they otherwise couldn’t afford.

  • The default rate has not noticeably increased.

What if your crypto investments went beyond speculation or side hustles and actually changed your life? According to research from the U.S. Treasury Department’s Office of Financial Research (OFR), that’s exactly what’s happening in some lower-income communities. 

They’re using crypto gains to secure mortgages, buy homes, and snag car loans—without driving up delinquency rates.

TLDR

  • The world’s fastest supercomputer is the processing equivalent of the latest iphone stacked five miles high.

  • It can make 2.79 quadrillion calculations per second.

  • It still can’t crack blockchain encryption.

When it comes to processing power, humanity has just reached a new milestone. Last week, researchers at the Lawrence Livermore National Laboratory (LLNL) introduced El Capitan, the world’s fastest supercomputer, clocking in at an eye-watering speed of 2.79 quadrillion calculations per second. 

Yet, this breathtaking performance isn’t enough to compromise blockchain encryption,

TLDR

  • Gary Gensler is stepping down as Chair of the SEC.

  • This move was highly anticipated.

  • Trump said he would be fired on his first day in office.

No one stirred the ole crypto pot quite like Gary Gensler. On January 20, 2025, Gensler will officially step down as head of the SEC, a move confirmed by the organization in a public statement. 

Longer-term crypto investors are probably already considering the ripple effects of this leadership change, but if you’re a beginner, don’t worry — we’ll break it down for you.

Here’s what you need to know about Gensler’s legacy, his departure, and what it might mean for you as someone starting out in the world of Bitcoin, Ethereum, and beyond.

Meme of the Week

Question of the Week

I saw that the DOJ is probing Tether. Is USDT a scam?

Answer at the bottom of the newsletter!

Deep Dive – What Happened to the Trump Pump?

Everything that goes up must come down. That’s just physics. With a pro-crypto POTUS headed to the White House, why was the pumping market so suddenly deflated?

That’s a good question and we’re sure a lot of new users want to know the answer.

The term is called “taking profits”. It’s a natural part of investing. What’s the point of making money in any financial market if you’re not going to enjoy it, spend it on necessities, and possibly buy a new house, as me talk about in one of the articles above.

This isn’t really “a dump”. There is no capitulation event (That’s what it’s called when the bulls give up and let the bears have it). The sky isn’t falling. Crypto isn’t failing.

People are taking profits. They’re paying rent, buying food, Christmas presents for family members and friends. At the end of the day, isn’t that was this whole financial freedom thing is all about?

Being able to support yourself without having to rely on a crappy job, government assistance, or someone other adult taking care of you?

Financial freedom is a painting with more than one color. It’s more than a single picture. It’s all of us. Together. 

Back in 2022 as the market was crashing, a lot of people were buying Bitcoin at $40k to $50k because they were sure the market would recover. It did. But not nearly as fast of we all hoped it would. So the people who were sitting on Bitcoin and down bad are now taking the profits they wanted two years ago.

It’s just another day in crypto. Tomorrow is a brand new one.

Closing Shenanigans

Thanks for reading. Dypto Crypto is a safe place where crypto newbies can learn and ask questions to help them make informed decisions in this exciting and volatile world. We’re having a lot of fun with YouTube shorts and TikTok. 

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Question of the Week Answer:

For budgetary reasons, the SEC and other agencies usually go after people pretty heavily in Q4. This “probe”, as far as the research we’ve personally done, is pretty baseless. Tether is audited and consistently helps authorities recover stolen funds. They aren’t the bad guys. They’re just being made to look like it.