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GM. This is Milk Road. The daily newsletter that raids Crypto Twitter and compiles any seized information into a fun/easy read. 

Here’s what we got for you today:

• ✍️ Polymarket founder gets raided by FBI

• ✍️ Staking may soon be coming to the $ETH ETFs

• 🥛 PRO “Where are we in the cycle?” indicators

• 🎙️ The Milk Road Show: Welcome to the Banana Zone: Advice from a Millionaire Crypto Investor w/ Zeneca

• 🍪 Top 5 finance apps on the App Store are all crypto related

POLYMARKET FOUNDER GETS RAIDED BY FBI 🕵️‍♂️

Yesterday we saw another company join a very select group of heavy hitting US-based crypto businesses.

A group that, once joined, sends a message to the world:

“We’ve made it.”

The cost of entry? A direct attack from a major US government agency.

The company in question is Polymarket, after the FBI raided the founder’s home – taking his phone, laptop and other electronic devices, before riding out into the early morning sun.

First off: a round of applause for Shayne Coplan and Polymarket (you did it guys!).

Shayne and Polymarket now join the elite rank and file of crypto companies/products on the US government’s ‘naughty list’.

Including, but not limited to:

1. Kraken

2. Uniswap

3. Coinbase

4. OpenSea

5. Yuga Labs

6. Robinhood

7. Consensys

8. Crypto.com

9. Binance US

10. Immutable X

11. Tornado Cash

12. Genesis/Gemini

13. Ross Ulbricht/Silk Road

And with Polymarket’s entrance to the group, there’s a whooole bunch of people freaking out on Crypto Twitter…

Is this a politically driven attack on Polymarket? Is regulatory lawfare only set to continue in the US? What does it all mean?

The simplest answer:

It might be politically motivated…it might be totally warranted. Right now, there aren’t enough details to draw any solid conclusions.

Silver lining is:

If it’s baseless, there are plenty more examples of government agencies fumbling their cases than winning them.

Who knows – maybe we’re about to chalk up another L for “regulation by enforcement” in the US?

That’d be nice!

STAKING MAY SOON BE COMING TO THE $ETH ETFS 🥩

You know those moments in life when “it’s never going to happen” turns into “holy sh*t, this might actually happen!”?

E.g. You’ve been pestering your parents for a Nintendo 64 for the past 5 Christmases, and have only ever been met with a staunch “NO”.

…but then one year, two things happen at Thanksgiving dinner:

1. Mom gets a few drinks in her

2. Dad announces he’s getting a bonus at work

The stars align. You seize the moment. The pitch is made once again…

With a sideways glance and half shrug, your parents say: “Sure, if you get good grades this semester.”

(“Holy sh*t, this might actually happen!”).

Yeah, well – It feels like the crypto industry is having one of those moments – and it comes in the form of staking. Specifically, staking being added to the Ethereum ETFs.

Here’re a few signs suggesting it could be on the cards:

1/ New president → new rules

The Trump administration is promising less regulatory restrictions on crypto-based financial products.

2/ “Help wanted” – The SEC

SEC chair / anti-crypto regulator Gary Gensler is almost definitely about to get the boot. A new republican appointed chair will most likely be much friendlier/fairer to the crypto industry.

(Side note: once Gary leaves, maybe the SEC will start going after the real scammers? 👇)

3/ Bitwise just bought Attestant

Bitwise, managers of one of the largest Ethereum ETFs, just acquired Attestant – an $ETH staking protocol.

Does all of this add up to a guarantee? No. But it sure does point in the right direction!

And yeah, $ETH staking has been available to crypto-natives for a good while now…

But having it added to the ETFs will make it easier for institutional investors to access, and guarantee its compliance (from a regulatory standpoint).

But the really important part?

Any $ETH ETF that adopts staking would transform its shares into yield bearing assets.

And yield bearing assets tend to attract the most investment!

(Holy sh*t, this might actually happen!).

PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔 

The sun is out…

It’s unseasonably warm…

But are we actually in crypto summer?

See, crypto moves in cycles made up of four distinct seasons, and knowing which season we are in is crucial for capturing the best opportunities.

The goal is to spot the bull market peak before the inevitable bear market hits your bags hard.

Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late.

Below are the 6 indicators we track, with a color-coded system to show how close they are to signaling the market peak:

🟢 Plenty of room to run 🏄

🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️

🔴 We’ve hit the market top indicator 🚨

Every Thursday, we update these 6 indicators exclusively for PRO members.

Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point.

Let's dive in and see if we're anywhere near the top of this bull market. 👇

BITE-SIZED COOKIES FOR THE ROAD 🍪

Navigate is a decentralized data platform that lets you earn from the data you generate every day. By using their DataQuest browser extension or completing tasks in the app, you can contribute data of your choice for AI training and analytics.

Top 5 finance apps on the App Store are all crypto related. We had a story this week about retail coming back and today we found another addition. Looks like we’re going mainstream baaaaby.

Franklin Templeton launches Benji on Ethereum. Yesterday, it was Blackrock’s BUIDL and today it’s Franklin’s Benji. RWA on a rollll.

Institutions are coming in hot. According to Sygnum’s latest survey, 6 out of every 10 institutions plan to boost their crypto allocations. The big bucks are on their way.

Milk Road’s Bitcoin Price page offers real-time pricing for $BTC, keeping you updated on every move. With a clean layout and reliable data, it’s perfect for those closely tracking Bitcoin’s market activity.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.