Democrats Silent 🤫 on Crypto in New Platform
In today’s edition: 💸 😟 Users lose out despite Pump.Fun's record profits, 🔐🤔 Curve DAO contemplates huge CRV fund allocation, and more!
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What’s Poppin’?
by Juan Aranovich, Sage Young, and Sam Sriram
Silence on Crypto in New Democratic Platform Contrasts Sharp Pro-Crypto Stance of Trump and GOP
Hopes for a “crypto reset” under Kamala Harris fade as the Democratic Party’s latest platform fails to even mention digital assets or Bitcoin.
Most Users Keep Losing Money on Pump.Fun, Despite the Protocol’s Record Profits
Users of the Solana-based protocol have deployed nearly 1.2 million tokens so far, but only 32 currently have a market cap of over $1 million, per GeckoTerminal.
Curve Founder Michael Egorov Seeks 21 Million CRV From Community Fund for Swiss Stake AG
The Curve community will deliberate on a DAO funding request for 21 million CRV to be allocated to Swiss Stake AG, the company building Curve which was founded by Michael Egorov.
Daily Bits… ✍️✍️✍️
🚫 The SEC rejected Cboe’s 19b-4 filings for two proposed Solana ETFs, citing concerns that Solana should be classified as a security, preventing the filings from advancing in the approval process.
🗳️ Mango Markets, a once-prominent Solana-based decentralized exchange, is considering a settlement with the SEC over alleged securities violations, including paying fines and destroying its MNGO tokens, which could significantly impact the platform's future operations.
⚖️ A New York judge denied the SEC's request for additional pre-trial actions in its ongoing securities fraud case against Tron Foundation and founder Justin Sun, maintaining the current court procedures.
📜 Coin Center has been granted the right to pursue its lawsuit against the U.S. Treasury and IRS, arguing that a 2021 amendment to the tax code requiring disclosure of certain crypto transactions is unconstitutional.
🏀 A US court allowed the class action lawsuit against Shaquille O'Neal’s Solana NFT project, Astrals, to proceed, with allegations that the project involved unregistered securities.
⚡ Tether is set to launch its USDT stablecoin on the Aptos blockchain, offering low transaction fees and expanding its presence across various blockchain ecosystems.
💔 Solana-based UXD Protocol, with $7.5 million in deposits, is shutting down due to a lack of liquidity and for failing to generate excitement among DeFi users, with plans to return funds to investors pending a DAO vote.
💸 Solana experienced a record outflow of $39 million last week, attributed to a decline in memecoin trading, marking its largest outflow on record according to CoinShares.
🔟 Cardano's native token ADA dropped out of the top 10 cryptocurrencies by market cap, now ranking 11th as it continues to lose market share since January.
Today in Crypto Adoption...
🇬🇭 Ghana's central bank released draft guidelines for regulating crypto exchanges, focusing on issues such as money laundering, terrorism financing, and consumer protection, while seeking public and industry feedback.
The $$$ Corner…
💻 Fabric Cryptography, a startup developing specialized hardware for cryptography, raised $33 million in a Series A funding round co-led by Blockchain Capital and 1kx.
🌍 Bitwise expanded into Europe by acquiring London-based ETC Group, adding $1 billion in assets under management, bringing Bitwise's total AUM to over $4.5 billion.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 4.5%, trading at $60,758
ETH is up 3%, trading at $2,658
BTC dominance: 53.66%
Crypto market cap: $2.24T
*All data as of today, 07:08 am ET. Source: CoinGecko
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