Donald Trump Backs Crypto & Memecoin Mania Returns

Join Matt and Nick as they break down this week’s key market event; the spot Ethereum ETF applications; the SEC’s potential lawsuit against Robinhood; Donald Trump’s pro-crypto speech; memecoin prices soaring; altcoin updates; and more.Key Takeaways The market continues to trade sideways ahead of this week’s inflation data in the U.S. Consensus forecast is 3.4%, which would be slightly lower than the 3.5% recorded last month.The SEC flagged its intent to sue Robinhood in relation to its crypto offerings. Unlike previously, Robinhood plans to defend a would-be lawsuit.Bitcoin ETFs saw net inflows for the first time in five weeks. A major asset manager in Boston was revealed to hold roughly $360M worth of bitcoin ETFs.The spot Ethereum ETF application is still widely expected to be denied. The SEC must approve or deny VanEck’s application by May 23.U.S. presidential candidate Donald Trump spoke positively about crypto, contrasting the views held by the Biden administration. Time will tell whether he is just trying to win votes.‘Roaring Kitty’, a key figure behind the ‘meme stock’ mania of 2021, posted on social media after a long hiatus. This caused memecoins to rally.Among the altcoin updates covered: Infinex announces 30-day campaign; EigenLayer opens token claim window; and Botanix Labs secures funding.