🤝 BlackRock Sees Ether ETFs as Bitcoin Allies
In today’s edition: 🤔 Are US investors losing interest in bitcoin? 💪 Bitcoin's price stays resilient during Mt. Gox payouts, 📈 AAVE soars with new tokenomics proposal, and more!
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What’s Poppin’?
by Frederick Munawa, Sam Sriram and Sage Young
BlackRock: Our Spot Ether ETFs Are Complements to Bitcoin ETFs, Not Substitutes
Investment giant BlackRock’s head of digital assets discussed the company’s approach to crypto during a talk at the annual Bitcoin Conference, which kicked off Thursday in Nashville.
Bitcoin Coinbase Premium Index Turns Negative
According to one CryptoQuant analyst, a negative Bitcoin Coinbase Premium Index suggests lower demand from US investors.
Bitcoin Price ‘Doing Just Fine’ as Mt. Gox Distributions Almost Halfway Done
The price of bitcoin rose past $67,000 on Thursday despite Mt. Gox distributions nearing the halfway point of completion.
AAVE Jumps Amidst New Tokenomics Governance Proposal, Two-Year Record in Borrowing
A governance submission from Marc Zeller, the founder of the Aave Chan Initiative (ACI), aims to implement a fee switch and a buyback program to increase the utility of staked AAVE.
Daily Bits… ✍️✍️✍️
📊 Spot Ethereum ETFs saw a drop in trading volume to about $850 million on their third day, following significant outflows and a decline in ether's price.
🔧 Jito Foundation launched an open-source staking and re-staking service for Solana, allowing protocols to enhance economic security using various crypto assets.
💎 Marathon Digital purchased $100 million in bitcoin and will revert to holding all mined bitcoin, increasing its holdings to over 20,000 BTC.
🚫 Coinbase’s CB Payments Ltd. was fined $4.5 million by the UK's FCA for onboarding high-risk customers despite existing restrictions.
📲 The TON blockchain now supports gasless transactions through the new W5 smart wallet, allowing users to make payments using USDT and Notcoin without needing to hold toncoin.
🤔 X removed long-standing cryptocurrency emojis, including Bitcoin.
🗳️ The Arbitrum community is voting on a proposal to extend its Orbit chains to networks beyond Ethereum, with the initial vote ending on Aug. 1, 2024.
Today in Crypto Adoption...
🏙️ Jersey City’s municipal pension plan will invest in bitcoin through ETFs, marking another step toward crypto adoption, according to Mayor Steven Fulop's announcement.
🏛️ Bitwise Asset Management hung a banner promoting its new spot Ethereum ETF on the New York Stock Exchange, following its launch that saw significant net inflows.
The $$$ Corner…
💼 OpenSocial Protocol secured $6 million in funding led by Framework Ventures and North Island Ventures, bringing its total to $26 million for expanding its multichain technology and Web3 community support.
💰 Galaxy Asset Management, led by Michael Novogratz, raised $113 million for its Galaxy Ventures Fund, targeting early-stage crypto projects, and with plans to raise $150 million in total.
Monad-deal day?
💸 aPriori, liquid staking platform on the Monad blockchain, secured $8 million in seed funding led by Pantera Capital, pushing its token valuation to at least $100 million.
🌐 Kintsu, another liquid staking protocol on the Monad blockchain, closed $4 million in seed funding, with Brevan Howard Digital and Castle Island Ventures leading the round.
🚀 Monad-based onchain orderbook exchange Kuru gathered $2 million in seed funding led by Electric Capital, aiming to expand its team and prepare for audits before launching on the Monad testnet.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 5%, trading at $67,320
ETH is up 2.4%, trading at $3,246
BTC dominance: 52.81%
Crypto market cap: $2.51T
*All data as of today, 07:05 am ET. Source: CoinGecko
Recommended Reads
CoinDesk: Staking in Ethereum ETFs Might Be a Question of When, Not If
Forbes: How The U.S. Could Leverage Bitcoin As A ‘Trump Card’ Against China
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