Scott Melker is the host of The Wolf Of All Streets Podcast and author of The Wolf Den newsletter.
“If I tweeted about a small cap [crypto] of some sort right now, the price would probably change by like 50%,” says Scott Melker, better known to his 904,800 Twitter followers as The Wolf Of All Streets.
Melker says he takes this responsibility seriously and won’t share tweets that might “impact the market” – but this makes Twitter “a lot more boring” from his end. In fact, Melker declares that Twitter “stopped being fun” when he reached 100,000 followers.
“That’s when I went through a phase of a real love-hate relationship with Twitter because that’s when I guess 10% of the people who respond to comments were trolling at any given time.”
All you can really post to 900,000 followers is “Bitcoin and inspirational quotes” because “everything else” will land you in hot water.
After graduating from Penn State University with an Anthropology degree in 1999, Melker tried his hand at a “million” other things — finding the most success in his 20-year stint as a DJ.
Shortly after finishing university, he also started his own magazine in Philadelphia called 101 Magazine, focusing on street culture and city vibes.
It caught the attention of a “huge” magazine called Frank 151, which acquired it, and Melker became the editor-in-chief of both.
During that time, he had the opportunity to attend “insane” parties and rub shoulders with legendary acts like the Wu-Tang Clan and Outcast.
“I just happened to look into crypto because there was a bunch of DJs trading it,” he says.
He first started trading on the Gemini crypto exchange in 2016 and recalls buying Bitcoin to send it to another exchange, Bittrex, so he “could buy Ethereum and Ripple.” ETH was “under 20 bucks” back then, he notes in a cheeky humble brag.
Rather than some lofty higher purpose, he says the main attraction was making cold hard cash.
“I was really just trading, trying to make money to support a new family; it had nothing to do with what Bitcoin was or what the asset class was.”
What led to Twitter fame?
Melker initially started stacking up followers when he was “trading the market well” and posting about it on Twitter. At that point in time, his content was “100% charts and trades.”
However, Melker didn’t want his account to be based on trades because it’s “fickle.”
So, he transitioned toward a more holistic approach to his content within the crypto industry.
“I would love to tell you there was some strategy that I took to grow my account, but it was always just me doing whatever I enjoyed doing the most at any given time.”
Melker has observed a direct correlation between his follower growth and the performance of the crypto market.
During previous bull markets, he has experienced an insane influx of daily followers.
“There was a time when I was getting a hundred thousand [followers] in two months,” he says.
Melker used to “literally respond to everybody” who commented on his tweets or messaged him, but that ship has now sailed.
“That’s like a full-time job, and then you just get to the point where you literally can’t open all your DMs anymore,” he says.
But it’s best not to refer to him as an “influencer.”
“I hate the term influencer because, to me, I’m just a student of crypto, and it’s something I’m passionate about and want to learn more about.”
Melker’s content revolves around crypto news and keeping people up-to-date with what’s happening in the market.
He likes to share his take on what’s important, and “what’s kind of noise and not signal.”
“[My content includes] all the lessons that I’ve learned in my streams and podcasts, but I would say it’s generally educational/informational content about this market.”
Melker emphasizes the overwhelming pressure he faces whenever he decides to “fire off a tweet,” considering how many followers he has amassed on Twitter.
“Twitter is like a movie where you throw a grenade in a room and walk away, and there’s a huge explosion behind you. That’s how I feel every time I send a tweet now,” Melker says.
Extreme beef: Gary Gensler
Melker is not a fan of United States Securities and Exchange Commission Chair Gary Gensler.
He admits that his Twitter is filled with many “angry tweets against Gensler.”
“I literally contributed to aggressively getting #firegarygensler trending on Twitter,” he declares.
He explains that his problem with Gensler is his recent regulatory actions, which he perceives as a “massive overcorrection” targeting crypto firms.
He believes that it stems from a sense of embarrassment over the fact Gensler was meeting with Sam Bankman-Fried before the collapse of FTX and didn’t realize “he was a fraud.”
ZachXBT, a pseudonymous on-chain researcher, accused Melker of pumping and dumping shit coins to his followers in 2021. It was a troubling time for Melker, who received threats and became the target of white-hot anger.
Melker vehemently refuted the claims and announced he would steer clear of tweeting about projects with small market caps altogether.
Melker says he doesn’t want his audience to get the wrong idea and prefers to focus on the educational stuff. He reiterates that he “was passionate” about trading altcoins, but says it can be difficult to navigate the boundaries of what you should and shouldn’t talk about as your following grows.
“You don’t just show up with 900,000 followers one day and understand what you can and cannot tweet about.”
Price predictions?
“There’s nothing that makes you look dumber than a price prediction,” Melker states. He should know, given he took an optimistic swing at predicting Ethereum would hit five figures in 2021.
However, he is bullish on Bitcoin hitting six figures in the next bull run.
“I think the next cycle would be somewhere between 100 (thousand) and 250 (thousand),” he declares.
But Melker believes that after that, the market will see another huge decline before it hits half a million.
“Then we drop down to 60 (thousand), and it’s boring forever. Then, we pop up to half a million, like we continue these four-year cycles.”
However, Melker doesn’t want “to live in a world where Bitcoin is a million dollars.”
“The faster it happens, the worse the world is,” Melker says.
“Because if Bitcoin goes to a million dollars. It means that everything else has exploded, including the United States dollar, and we’re living in some Mad Max dystopian future.”
“Where you and I are those guys without faces painted going to gas town, fighting off the enemies,” he describes, referring to the 2015 movie Mad Max: Fury Road.
Finnish police have seized more than $2.6 million worth of luxury watches from Hex founder Richard Heart, who is wanted on tax fraud and assault charges in the country.
Judge Katherine Failla granted Coinbase’s request for an interlocutory appeal, citing different courts’ interpretations of what constituted a security under the SEC’s purview.
The grooming gangs scandal is back in the headlines after Elon Musk attacked Sir Keir Starmer and minister Jess Phillips for failing children.
The tech billionaire has accused Sir Keir of being “complicit” in the failure of authorities to protect victims and prosecute abusers while the PM was director of public prosecutions from 2008-2013.
Sir Keir has hit back at Musk, saying his record shows how he tackled the issue head-on.
Sky News looks at a timeline of the grooming gangs scandal, inquiries and Sir Keir’s role.
How did the grooming gangs scandal unfold and what prosecutions have there been?
2001: Names of taxi drivers who allegedly picked up girls from care homes in Rotherham to abuse them are passed to the police and council from 2001. The first convictions were not until 2010, with the latest in 2024 – a total of 61.
2004: A Channel 4 documentary about claims young white girls in Bradford were being groomed for sex by Asian abusers is delayed as police forces warn it could inflame racial tensions. It was finally shown three months later.
2010: 11 men, predominantly of an Asian background, are convicted of offences connected with the sexual exploitation of children in Derbyshire.
2011: Times journalist Andrew Norfolk starts receiving tip-offs about child sexual exploitation by predominantly Asian men in Rotherham. It was his insistence on pursuing the story, despite being called racist and concerns the far-right would latch on to it, that eventually led to a national inquiry.
2011: A girl abused by a grooming gang in Huddersfield writes a letter to a judge about the abuse she had suffered. It was not until 2013 that another victim came forward to police to make formal allegations, then dozens of girls and men were interviewed over the next three years. Victims and their families said they repeatedly told police and authorities but nothing happened.
2011: Operation Bullfinch is launched by the police and council in Oxford to look into a child sex abuse ring in the city. The first convictions are secured in May 2013, then 2015, 2016, 2019 and 2020.
May 2012: The first grooming gangs convictions of men from Rochdale and Oldham see nine found guilty of being part of a child sexual exploitation ring run out of two takeaways in Greater Manchester since 2008. A further five from the Rochdale area were jailed the following year.
May 2013: Seven men have been jailed, it emerges, at the conclusion of child sex abuse trials relating to offences in the Telford area.
2017: A total of 29 men from a Huddersfield grooming gang are charged but a reporting restriction prevents media from reporting on the case to avoid prejudicing other cases. The ban was criticised by far-right groups, with Tommy Robinson – also known as Stephen Yaxley-Lennon – jailed for 13 months (later reduced to nine months) after admitting contempt for filming outside a court during the trial.
2018: Twenty men, mainly of Pakistani origin but the ringleader was Sikh, who were part of the Huddersfield child sex abuse ring are convicted of 120 rape and abuse offences against 15 girls, and sentenced to a total of 221 years.
Three separate trials had to be held as there were so many of them. More men have been convicted since then, bringing the total number to 41 by August 2021.
2023: A Grooming Gangs Taskforce is set up by Rishi Sunak’s government, with qualified officers from all 43 police forces in England and Wales, and data analysts. In May 2024, 550 suspects had been arrested and 4,000 victims identified.
2023: Nine further men are charged with sexual offences in Rotherham under Operation Stovewood. Most of the offences took place between 2003 and 2008.
2024: Operation Stovewood sees 11 more men from Rotherham convicted for the abuse of vulnerable girls.
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3:31
‘Lies’ over grooming gangs
What inquiries have there been?
There have been 10 inquiries and reports into the grooming gangs.
2013: The Home Affairs Select Committee publishes a report into the Rochdale cases, finding the failure to protect children fell to police, social workers and Crown Prosecution Service (CPS) prosecutors.
2014: An inquiry into grooming gangs in Rotherham, led by Professor Alexis Jay and commissioned by the council in 2013, finds 1,400 children were sexually abused between 1997 and 2013 by predominantly British-Pakistani men.
Then home secretary Theresa May commissions the Independent Inquiry into Child Sexual Abuse in England and Wales following the Jimmy Savile scandal. Professor Jay became the chair after three others resigned.
2015: A West Midlands Police report from 2010 is released publicly after a Freedom of Information request by the Birmingham Mail.
It shows police knew five years before that Asian grooming gangs were targeting children outside schools in Birmingham but were worried about community tensions if it was made public.
2015: A report into Rotherham Council’s handling of child sexual abuse, commissioned by the government and led by Baroness Casey, finds the council had a bullying, sexist culture of covering up information and silencing whistleblowers.
A new police inquiry into child sexual abuse in Rotherham is launched, with 19 men and two women convicted in 2016 and 2017 of sexual offences dating back to the late 1980s.
2015: A serious case review by Oxfordshire Safeguarding Children’s Partnership finds 373 children (including 50 boys) could have been groomed and sexually exploited in the city. It accused Thames Valley Police of not believing children when they complained.
2019: An independent review into historic child sexual exploitation in Oldham shisha bars from 2011 to 2014 is commissioned by Greater Manchester mayor Andy Burnham after Oldham council requested it.
2020: The Home Office refuses to release research into grooming gangs as it said it is not in the public interest. Following public pressure it releases the report, which finds no credible evidence any one ethnic group is over represented in child sexual exploitation. It is branded a whitewash by critics.
2022: The Independent Inquiry into Child Sexual Abuseby Professor Jay is published after 12 years. It finds police and councils downplayed the scale of the problem and children were often blamed for their abuse.
It makes recommendations, including mandatory reporting of child sexual abuse by people working with children, the establishment of a national financial compensation scheme for victims “let down by institutions” and the creation of a child protection authority.
2022: Oldham councillors called for a government inquiry into grooming gangs in the town but the Conservative government rejected it and said the local authority should commission a review.
2022:Greater Manchester’s inquiry into Oldham grooming gangs was released. It found the police and council failed to protect vulnerable children and covered up their failings.
2022: The Telford independent inquiry was published and found more than 1,000 children in the town were sexually exploited and the abuse was allowed to continue for years, with children often blamed.
The inquiry found issues were not investigated because of nervousness about race, with teachers and youth workers discouraged from reporting child sexual exploitation.
2024: Oldham councillors again called for a government inquiry but safeguarding minister Jess Phillips said the council had to carry it out.
What is Sir Keir Starmer’s involvement?
2008-2013: Sir Keir Starmer was director of public prosecutions (DPP), head of the Crown Prosecution Service (CPS) which conducts criminal prosecutions in England and Wales, for five years.
2009: The CPS was criticised for not prosecuting Rochdale grooming gang suspects in 2008 and 2009. It said the main victim was “unreliable” so dropped the case.
2010-2011: In that financial year, child sexual abuse prosecutions reached 4,794 – the highest during Sir Keir’s time as DPP. In 2016/17, nearly there were nearly 7,200 prosecutions.
2011: The decision to not prosecute in Rochdale was overturned by Nazir Afzal, chief prosecutor for northwest England, appointed by Sir Keir.
2013: A Home Affairs Committee report said unlike other agencies, the CPS had “readily admitted victims had been let down by them and have attempted both to discover the cause of this systemic failure and to improve the way things are done so as to avoid a repetition of such events”.
The report added: “Mr Starmer has striven to improve the treatment of victims of sexual assault within the criminal justice system throughout his term as DPP.”
Maggie Oliver, a former Manchester detective and whistleblower, told the BBC the CPS “bears a great deal of responsibility for the failures around this issue”, including bringing inadequate charges and blaming victims.
2013: Sir Keir revised guidance on child sexual exploitation to make future prosecutions easier. Before, victims may not have been viewed as credible if they had not complained immediately, if they had used drugs or alcohol, or dressed and acted in particular ways.
2013: The Child Sexual Abuse Review Panel was created by Sir Keir to review CPS decisions not to bring charges or terminate proceedings after 5 June 2013.
What has Elon Musk said?
The billionaire, who posts on X, which he owns, many times every day, has also given a series of interviews, and has commented on the grooming gangs and child sex exploitation cases in the past. He has shown support for both Reform and Tommy Robinson and began to post about the grooming gangs scandal regularly, in response to others, in late December and early January.
31 December: In response to an X post referencing the grooming gangs and claiming “out of political correctness, the government did everything it could to cover up the crimes”, Mr Musk replied: “The government officials responsible, including those in the judiciary, need to fired in shame over this”
In response to a post that claimed that “Parents who attempted to rescue their children were arrested when the police arrived”, he said on X: “So many people at all levels of power in the UK need to be in prison for this.”
1 January: Then, after a series of other posts responding to people expressing similar views, including sympathy for Tommy Robinson and support for Reform, he responded to a post saying “Labour’s Jess Phillips, Minister for Safeguarding, refused to back a public inquiry into child exploitation in Oldham” by saying: “Shameful conduct by Jess Phillips. Throw her out.”
2 January: He responds to a poster by calling for a new election, then…
He posts: “In the UK, serious crimes such as rape require the Crown Prosecution Service’s approval for the police to charge suspects. Who was the head of the CPS when rape gangs were allowed to exploit young girls without facing justice? Keir Starmer, 2008 -2013
“Who is the boss of Jess Phillips right now? Keir Stamer. The real reason she’s refusing to investigate the rape gangs is that it would obviously lead to the blaming of Keir Stamer (head of the CPS at the time).”
Responding to a post criticising what someone called the legacy media, he said: “This is the same media that hid the fact that a quarter million little girls were – still are – being systematically raped by migrant gangs in Britain. They are beneath contempt. Despicable human beings.”
3 January: In response to a post talking about the cost of another public inquiry, he says: “No UK government inquiry for the gang rape of innocent little girls, but £22M spent on an obviously violent lunatic. Shame, shame, shame.”
He went on to accuse Keir Starmer of being “guilty of complicity” and accusing Jess Phillips of being a “rape genocide apologist”.
4 January: He responded to an article in The Daily Telegraph, which claimed to show how the grooming scandal was “covered up”, by saying “How the rape of Britain was covered up” and then later added: “The sniveling cowards who allowed the mass rape of little girls in Britain are still in power … for now”.