- HYPE TRAIN
- Posts
- NEW POPE ANNOUNCEMENT LEAVES CRYPTO STUNNED
NEW POPE ANNOUNCEMENT LEAVES CRYPTO STUNNED
Bitcoin Hits 100k + No Capital Gains Tax on Crypto?
Hype Train
May 08, 2025
Presented by Hype
Welcome to the HYPE TRAIN - a newsletter that breaks down what's happening in the crazy world of memecoins. We'll be breaking down the WTF moments, Best Trades, and much more, while trying to provide some humor to your day.
Disclaimer: Take none of this as financial advice & do your own research
Aaand here we go:
Pleasant day to be a degen! Welcome to today’s edition of Hype Train, where we will be covering our staples today:
TOP Memecoin Performances😇
NO CAPITAL GAINS ON CRYPTO!!!
POPE IS FROM CHI-TOWN?!?!?! 😱
AND………………stories that will shake your head🙈
CRYPTO STAPLES🥇*As of 3:45 pm EST on May 8th
Coin | Price | Market Cap | %Change(24hr) |
|---|---|---|---|
$BTC | $101,259 | $2 Trillion | +5.4% |
$ETH | $2,073 | $250 Billion | +15.6% |
$SOL | $160.04 | $83 Billion | +9.9% |
HYPE INDEX🐐
$12.36 | $2.4 Billion | +14.4% | |
$0.00001931 | $1.4 Billion | +16.2% | |
$1.16 | $1.1 Billion | +20.1% | |
$0.6711 | $670 Million | +22.9% | |
$0.4766 | $467 Million | +12.2% | |
$0.0000009559 | $373 Million | +25.7% | |
$0.01968 | $189 Million | +19.2% | |
$0.01856 | $18.5 Million | +25% |
CRYPTO IS NOT CAPITAL GAINS🫡
Missouri House Bill 594, which exempts individual capital gains, including from crypto, from state income tax, has passed the House and now awaits Governor Mike Kehoe’s signature. Set to apply retroactively to gains made in 2025, the bill is projected to cut state revenue by $430 million this fiscal year and $340 million annually thereafter. Corporate capital gains would remain taxable until at least 2030. This is a huge trickle down effect for crypto today, as it helped BTC rise, which spread into the Solana Ecosystem, making the Hype Index SUPER GREEN TODAY!
🇺🇸 BULLISH: Missouri set to become first US state to exempt capital gains taxes on stocks, crypto and real estate.
— Cointelegraph (@Cointelegraph)
1:41 PM • May 8, 2025
BITCOIN RETAKES $100K🗣
Bitcoin surged past $100,000 on Thursday for the first time since February, peaking at $101,454 before stabilizing around $100,691 by midday. The rally was fueled by President Trump’s announcement of a new trade deal with the UK and hints at further agreements, alongside broader macro optimism and renewed capital inflows into risk assets. The surge triggered $583 million in crypto liquidations, including $101 million in BTC shorts in one hour. Ethereum also spiked 13% to over $2,000 following its successful Pectra upgrade and a temporary withdrawal pause on major exchanges. Total crypto market cap now stands above $3.1 trillion, with BTC up 27% over the past month.
BREAKING: Bitcoin rises above $100,000 for the first time since February 7th.
— The Kobeissi Letter (@KobeissiLetter)
3:24 PM • May 8, 2025
NEW POPE IS ANNOUNCED
Cardinal Robert Prevost, a missionary from Chicago and former bishop in Peru, was unexpectedly elected pope on Thursday, becoming the first U.S. pontiff and taking the name Leo XIV. The 69 year-old's election drew international attention, especially given his support for social justice and ties to Pope Francis’ reform agenda. Trump quickly congratulated him, calling it a great honor for the U.S. Despite the historic moment, degens tried to capitalize on with memecoins, but most crashed and rugged soon after it’s launch.
The new pope Robert Prevost is from Chicago
— Pardon My Take (@PardonMyTake)
5:51 PM • May 8, 2025
MEME OF THE DAY
HOT NEW COINS (24 Hr)📈
$GIGANT | $0.0006404 | $555 Thousand | +867% |
Introducing our REFERRAL PROGRAM:
Collect rewards for sharing HYPE TRAIN with your friends, coworkers, family, and even random people!
That’s all for today’s edition, see you degens tomorrow!
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.