GM Brew Crew, the fellas are headed to Miami for the Bitcoin conference. We will make sure to share important topics and information that we learn this week… such as where the beautiful women reside and how Miami will help turn our cold wallet into an empty wallet :)

On the menu today:

• THE COST OF CHASING $GREED 🤑→ 😳

• EU FINANCE MINISTERS APPROVE LANDMARK CRYPTO RULES 📜✔️

• WEAKEST $BTC-$ETH CORRELATION SINCE 2021 👀

Today’s Charts:

THE COST OF CHASING $GREED 🤑→😳

To prove a point of blind trust in crypto, Voshy, creator of the recent meme coin: $GREED, turned what was supposed to be a joke into a lesson on privacy.

• Despite seven figure offers to access the presale and tons of attention from a simple tweet (initially just a joke), Voshy refused to profit from $GREED. He disabled all trading ability with the coin upon wallet delivery, aiming to instead expose the privacy risks of FOMO-driven actions. 😵‍💫

• He expressed that his red flag strategy of writing messages such as, 'The only people benefiting from tokens are the founders' and 'Beware of greed; it can engulf you,' did not yield the desired outcome... the masses only became more bullish. 🐂

• As many rushed in completing steps to receive their “free” airdrop of $GREED - most were unaware they had just given Voshy full access to their Twitter account. It automatically posted the tweet (seen below) on everyone’s personal twitter. Lesson learned in the name of $GREED? Probably not…. Entertaining ? A little bit 👀 👇

EU FINANCE MINISTERS APPROVE LANDMARK CRYPTO RULES 📜✔️

The European Union's (EU) finance ministers have overwhelmingly passed historic crypto regulations, strengthening the EU's position as the first large region with a complete licensing scheme.

• The Markets in Crypto Assets legislation (MiCA) was passed by the EU Council with no abstentions. Additionally, new anti-money laundering guidelines for cryptocurrency payments transfers were approved.

• To operate within the blockchain, MiCA mandates that cryptocurrency businesses, including wallet providers and exchanges, obtain a license. Additionally, it requires stablecoin issuers to have enough reserves. The majority of MiCA's provisions are anticipated to go into force around a year after it is published in the official journal of the EU.

• Finance ministers also approved new regulations to oblige cryptocurrency companies to reveal client holdings information to tax authorities. These regulations will be adopted across the EU to stop money from being kept in covert foreign wallets.

WEAKEST $BTC-$ETH CORRELATION SINCE 2021 👀

Bitcoin and Ethereum have slowly began to diverge in price as Ethereum has shifted from Proof-of-work (PoW) to Proof-of-stake (PoS).

• Bitcoin and Ethereum have historically moved together in price, but this relationship has changed over the past year as there have been multiple decoupling events.

• Currently, the 30-day rolling correlation between changes in $BTC and $ETH is 77%, which is the lowest correlation has been since 2021. This means that the price movements between $BTC and $ETH are becoming less synchronized.

• Is this good or bad? Overall, the diminishing correlation between $BTC and $ETH can be attributed to several positive factors such as the increasing maturity of the crypto markets, the growing influence of institutional investors, and the expanding number of cryptocurrencies available for investment.

Special Blend: Morning Meme Roast

As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!

***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.