Today's episode notes a potential return of the crypto market, with altcoins and meme coins showing gains despite traditional market struggles influenced by tariff announcements. A significant "messy Jelly drama" unfolded involving a meme coin short squeeze on Hyperliquid and Binance's subsequent listing of its futures, raising questions about market manipulation. It also discusses the reality of the current "alt season," suggesting an oversupply of new tokens is diluting potential gains and emphasizing the need for fundamental analysis over hype. Finally, we cover regulatory developments in the U.S., including stablecoin legislation and debates surrounding DeFi regulation, alongside other notable crypto-related news.