Traders turn outbreak into memecoin bet

May 08, 2026

Sponsored by

 

Reading time: 5 minutes

Australia targets 63 crypto firms in AML push

Key points:

  • Australia’s AUSTRAC launched two supervisory campaigns targeting 63 crypto firms as broader anti-money laundering reforms take effect.

  • The new framework expands oversight beyond exchanges to include custody, brokerage, and other virtual asset services, with additional Travel Rule requirements arriving in July.

News - Australia is ramping up scrutiny of its crypto sector as regulators warn that criminals are rapidly adapting to digital assets, crypto ATMs, and cross-border payment systems.

AUSTRAC, Australia’s financial intelligence agency, announced two targeted campaigns covering 36 over-the-counter crypto-to-cash operators and 27 local crypto exchanges. Regulators will assess how firms manage money laundering risks, governance standards, and readiness for the country’s expanded AML reforms.

The changes officially broaden Australia’s regulatory framework from “digital currency exchanges” to the wider “virtual asset service provider” category, or VASPs. The updated rules now apply to custody providers, brokerages, and other crypto-related services beyond traditional exchange models.

Crypto ATMs become a growing concern - Speaking at the Financial Integrity Hub conference on May 8, AUSTRAC CEO Brendan Thomas warned that criminals are increasingly exploiting crypto ATMs in scams and fraud schemes because transactions can move funds internationally almost instantly.

Thomas described cases where scam victims were guided step-by-step on how to deposit money into crypto ATMs, highlighting how quickly organized crime groups are adopting new technologies.

July deadline adds pressure - Australia’s tougher oversight push is still evolving. Additional Travel Rule requirements for virtual asset transfers are set to become mandatory on July 1.

AUSTRAC said its broader strategy is shifting away from simple compliance checks toward identifying systemic financial crime risks across the crypto sector.

Memecoin traders turn hantavirus scare into crypto bet

Key points:

  • Solana-based memecoin HANTA surged sharply as traders turned hantavirus outbreak headlines into a speculative “memecoin supercycle” narrative.

  • Health officials stressed the outbreak does not resemble COVID-19, even as viral social media chatter fueled exchange listings, trading volume, and copycat tokens.

News - As hantavirus headlines spread globally, crypto traders rushed to turn the outbreak into the market’s latest viral memecoin narrative.

The main HANTA token briefly climbed above a market cap between $17 million and $18 million after launching on Pump.fun, while trading volume reportedly crossed $30 million within a day. Solscan data also showed wallet holders surging from roughly 2,600 to over 17,500 in 24 hours.

Momentum accelerated after Moonshot verified the token and several exchanges, including LBank, BitMart, KCEX, and BingX, quickly listed HANTA trading pairs and futures products. Health authorities across multiple countries also reportedly began tracking exposed cruise passengers as the outbreak story spread online.

Traders revive pandemic-era crypto narratives - The rally gained traction after crypto traders on X began comparing the outbreak headlines to the early stages of the 2020 COVID-19 cycle that fueled “DeFi summer.”

Nansen CEO Alex Svanevik suggested a potential “agentic summer,” while other traders openly speculated that another major health scare could revive retail trading activity and memecoin volume.

The frenzy also triggered a wave of copycat hantavirus-themed tokens across Solana decentralized exchanges, many posting triple-digit gains within hours.

WHO pushes back against pandemic comparisons - Despite the speculation, the WHO emphasized that hantavirus spreads very differently from COVID-19 and currently poses a low public risk.

Health officials said the Andes strain (only hantavirus variant with proven human-to-human transmission) requires close, prolonged contact for transmission and noted that previous outbreaks never escalated into a global pandemic.

Copy BlackRock's $10 Trillion Playbook

BlackRock manages $10 trillion using a playbook that's been hidden from retail investors for decades.

Until now.

I reverse-engineered their three-phase system into the ABN Framework:

A - All-Weather Portfolio (protect your base in any market)
B - Become Your Own Bank (collect fees like institutions)
N - Native Markets (get in before major exchange listings)

The same institutional edge... without needing millions in capital.

Over 4,000 investors are already using this:

Bill generated $932,000 in 21 days using our Native Markets strategy.

David made $27,000 in passive returns in just 2 weeks.

Jeff 5x'd his entire portfolio with our ABN framework.

The window's closing as institutional money floods in, so act quick.

For educational purposes only. Results will vary. DM Intelligence LLC is not liable for losses.

CLARITY Act gains momentum as Senate markup nears

Key points:

  • The Senate Banking Committee is reportedly preparing a markup session for the CLARITY Act as bipartisan pressure around crypto regulation intensifies.

  • A new HarrisX poll found 52% of registered voters support the bill, while nearly half said they could cross party lines to back candidates supporting crypto legislation.

News - Momentum around U.S. crypto regulation is building again as lawmakers, industry leaders, and voters increasingly push for clearer digital asset rules.

According to reports citing industry sources, the Senate Banking Committee is preparing to formally notice a markup session for the CLARITY Act, with draft legislative text already circulating among select industry participants ahead of a possible committee vote.

Coinbase Vice President of U.S. Policy Kara Calvert said during the Consensus 2026 conference in Miami that she expects a markup “as early as next week,” though she stressed the bill still requires bipartisan backing to clear the Senate’s 60-vote threshold.

Bipartisan support strengthens political pressure - A new HarrisX survey of 2,008 registered voters showed 52% support the CLARITY Act, while only 11% oppose it. The poll also found that 47% of respondents would consider supporting a candidate outside their preferred party if that candidate backed the legislation.

Among crypto holders, that figure climbed to 72%, highlighting how digital asset policy is becoming a sharper electoral issue.

Robinhood CEO Vlad Tenev said there is now “real momentum” behind the bill, while Coinbase CEO Brian Armstrong described passing the legislation as a bipartisan “winning issue.”

Industry concerns still remain - Despite the optimism, negotiations are still ongoing. Reports indicate some Democratic lawmakers are pushing for additional ethics-related provisions, while banking groups and crypto firms continue debating stablecoin yield rules, DeFi oversight, and protections for open-source developers.

Coinbase faces AWS outage amid mounting revenue pressure

Key points:

  • An overheating AWS data center in Northern Virginia disrupted Coinbase trading services, with Coinbase preparing markets for “cancel only” mode before re-enabling trading.

  • The outage arrived days after Coinbase reported a 31% year-over-year revenue drop, even as analysts pitched a long-term AI and stablecoin-driven growth thesis.

News - Coinbase faced another turbulent week after an Amazon Web Services (AWS) outage disrupted trading activity across parts of the exchange’s platform.

AWS confirmed that rising temperatures inside its Northern Virginia data center affected hardware tied to the use1-az4 Availability Zone in the US-EAST-1 region. Coinbase users reported degraded performance across web and mobile services, while the exchange prepared markets for “cancel only” mode before gradually restoring trading.

AWS later said it was seeing “early signs of recovery” after bringing additional cooling capacity online and diverting traffic away from impacted infrastructure.

Coinbase’s trading slowdown deepens - The service disruption came shortly after Coinbase posted weaker-than-expected Q1 2026 earnings. Revenue fell 31% year-over-year to $1.41 billion, while the company recorded a net loss of $394.1 million as crypto trading activity cooled sharply during the quarter.

Transaction revenue dropped 23% quarter-over-quarter, though Coinbase still reported record crypto market share and a 13th straight quarter of positive adjusted EBITDA.

The exchange’s subscription and services business accounted for 44% of net revenue, supported partly by growing USDC-related income.

AI and stablecoins fuel long-term bull case - Despite the recent slowdown, Artemis CEO Jon Ma argued Coinbase could eventually reach a $300 billion market cap by 2031 if stablecoins and AI-driven commerce continue expanding.

The projection depends heavily on USDC growth, recurring subscription revenue, and Coinbase’s broader push toward AI-native products, including agentic payment infrastructure and automated development systems.

Defense Tech Is the New Frontier for Investors

Record defense budgets are flowing into AI, satellite infrastructure, and advanced aerospace platforms. Our free research report names 5 companies at the center of this spending shift, before Wall Street catches up.

Crypto scams uncovered

  • This crypto heist moved from phishing screens to front doors: Marlon “GothFerrari” Ferro was sentenced to 78 months for his role in a social engineering crew that stole over $250 million in crypto. When online tricks failed, prosecutors said the group broke into homes to steal hardware wallets directly.

  • AI investing clubs became the new trap door: The SEC charged fake crypto platforms and WhatsApp-based “investment clubs” that allegedly used social media ads, group chats, and supposed AI-generated tips to lure retail investors. The defendants allegedly misappropriated at least $14 million through fake trading platforms and nonexistent token offerings.

  • A fake Bitcoin trading club stole from 100,000 victims worldwide: Trade Coin Club (TCC) promised investors that a high-tech trading bot would grow their Bitcoin, but the DOJ said no real trading happened. The Ponzi scheme took in over $300 million, while operator Douver Braga stole more than $50 million in Bitcoin.

Trade from the subway, golf course, or toilet

Liquid enables users to go long or short on any market from your phone or desktop 24/7.

No matter what time of day it is or where you are, you can monitor the situation with Liquid.

Top 3 coins of the day

Internet Computer (ICP)

Key points:

  • ICP surged toward the $3.3 region after breaking decisively above its multi-week consolidation range near $2.4.

  • The chart continued printing higher highs and higher lows, while the DMI showed strengthening bullish dominance with rising trend strength.

What you should know:

ICP extended its rally as traders rotated into AI-linked crypto infrastructure plays following renewed attention around the project’s Caffeine AI platform and on-chain cloud computing narrative. Sentiment also improved after the Mission 70 proposal gained traction for targeting a major reduction in ICP inflation by the end of 2026, reinforcing the token’s long-term supply outlook.

On the chart, ICP maintained a strong bullish structure after rapidly climbing out of its earlier consolidation phase. The Higher High Lower Low indicator continued confirming an active uptrend, while the DMI showed buyers firmly in control as the positive DI stayed well above the bearish line. Volume also accelerated during the breakout leg, supporting the strength of the move. If momentum continues, traders may monitor the $3.3–3.35 region next, while $3 now acts as an important nearby support zone.

Venice Token (VVV)

Key points:

  • VVV pushed toward the $13.5 mark after a high-volume breakout above the chart’s long-standing $10 ceiling.

  • The token continued trading above its 9-day SMA, while RSI crossed above 80, reflecting aggressive momentum and rising overheating risks.

What you should know:

Retail momentum intensified after eToro listed VVV on May 7, opening the token to a significantly wider trading audience. At the same time, traders continued reacting to Venice AI’s recent emissions cut, which reduced token issuance by 17% and strengthened the project’s tightening-supply narrative.

That backdrop helped VVV break cleanly above the resistance band near $10 before extending higher on expanding volume. The move also coincided with growing attention around Venice AI’s integration with OpenClaw’s private AI infrastructure narrative.

Despite the bullish structure, RSI signaled stretched conditions after the sharp climb. The breakout zone near $10 now serves as a major support area, while the $14 region remains the next resistance level traders are monitoring.

Dogecoin (DOGE)

Key points:

  • DOGE slipped toward the $0.106 area after failing to sustain its rally above the recent $0.116 peak, while selling volume picked up during the pullback.

  • The Awesome Oscillator flipped red after a prolonged green stretch, reflecting fading bullish momentum even as the broader higher-high, higher-low structure remained intact.

What you should know:

Dogecoin faced renewed selling pressure as traders rotated away from speculative meme assets during the broader market cooldown tied to Bitcoin’s retreat below $80,000. Sentiment also weakened amid geopolitical uncertainty surrounding the Iran-U.S. situation, which pushed investors toward lower-risk positions.

The decline accelerated after DOGE failed to hold its recent breakout near $0.116, triggering profit-taking following the week’s strong rally. Weak spot ETF inflows also continued limiting institutional support during the pullback.

Despite the correction, the chart still reflected a broader higher-high, higher-low structure. However, the Awesome Oscillator turned red after steadily weakening from its earlier green peak, signaling cooling momentum. The $0.104–0.106 zone now acts as immediate support, while $0.116 remains the next resistance level to watch.

How was today's newsletter?

Login or Subscribe to participate in polls.