🖼️ Are NFTs Securities Offerings?
In today’s edition: 🚨 Crisis averted at Compound, 🏛 Binance case sees SEC amendment, 🚀 Rocket Pool may revamp RPL token, 🇺🇸 DOJ moves $2B in Bitcoin, and more!
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What’s Poppin’?
by Jason Brett and Sam Sriram
Are NFTs Securities Offerings? Two Artists Sue the SEC to Find Out
Jonathan ‘Song-A-Day’ Mann and law professor Brian Frye have sued the SEC to help provide regulatory clarity for digital artists who use blockchain technology and NFTs.
Compound ‘Governance Attackers’ Agree to Cancel Proposal in Exchange for Staking Product
DeFi operations firm AlphaGrowth is leading a proposal to develop a Compound staking product that addresses the interests of Humpy in return for canceling the controversial Proposal 289.
Daily Bits… ✍️✍️✍️
⚖️ The SEC plans to amend its complaint against Binance, which could eliminate the need for a court ruling on whether tokens like SOL are securities.
📊 Rocket Pool is considering major changes to its governance token, RPL, to address competition and increase market share, following an informal poll that showed strong support for the redesign.
🏛️ A US government wallet associated with the DOJ transferred $2 billion worth of confiscated bitcoin to an unknown wallet, splitting it into two separate addresses.
💵 PayPal's Solana-based PYUSD stablecoin reached nearly $240 million in supply since its May launch, closing in on its Ethereum's PYUSD, which has about $348 million.
🛡️ WazirX faces backlash after a $230 million hack, as it conducts a controversial user poll on withdrawal options, which it later clarified as non-binding and preliminary.
😔 A 29-year-old Bitcoiner was murdered in Kyiv for $200,000 in bitcoin.
🗳️ The Senate vote on Sen. Stabenow's crypto regulation bill has been postponed, with discussions likely to resume when lawmakers return in September.
Today in Crypto Adoption...
📈🔗 Decentralized exchanges (DEXes) hit a record high in market share compared to centralized exchanges (CEXes), with DEX trade volume reaching 14.22% of the total.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 4.2%, trading at $66,574
ETH is down 1.8%, trading at $3,335
BTC dominance: 52.5%
Crypto market cap: $2.5T
*All data as of today, 06:33 am ET. Source: CoinGecko
Recommended Reads
Sonya Kim from Steakhouse Financial on the historical MEV on Ethereum vs. Solana
Decrypt: There’s a Problem With Senator Lummis’ Bitcoin Reserve Plan, Cato Institute Expert Says
CoinDesk: Trump's Talk of Bitcoin Reserve for the U.S. Leaves Industry Waiting for More Details
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