🗳️ 👀 Dems Could Woo Crypto Voters in Upcoming Hearing
In today’s edition: 📉 Bitcoin sell-off hits short-term holders, ⚖️ Celsius sues users who withdrew over $100K pre-bankruptcy, 🐞 Jump Crypto launches $1M Solana bug bounty, and more!
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How Crypto Prediction Market Polymarket Signaled Early That Biden Might Drop Out
Are prediction markets the key to finding the truth in an era of media narratives and social media algorithms?
Prediction markets are gaining mainstream traction, particularly with the upcoming US elections. In this episode, Nick Tomaino, founder at 1confirmation, which is an investor in Polymarket, explores how platforms like Polymarket identified the possibility that President Biden might drop out of the campaign before the mainstream media did. He talks about the journey of Polymarket, the challenges it faced, and how it overcame them to provide a credible platform for betting on political outcomes.
Finally, Nick explains why prediction markets are currently illegal in the US, the implications of the Supreme Court striking down Chevron deference, and what the future holds for prediction markets in the US.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
What’s Poppin’?
by Jason Brett and Sam Sriram
Could An Upcoming Senate Crypto Hearing Be the Start of a Democratic Push to Win Crypto Voters?
Senate Agriculture Committee Chairwoman Debbie Stabenow is working closely with Ranking Member John Boozman on a new piece of crypto legislation that is “tightly guarded.” A committee hearing regarding digital commodities on Wednesday could be her first chance to preview it.
Celsius Sues Users Who Withdrew $100,000 Before Crypto Lender Filed for Bankruptcy
The lawsuit comes after Celsius already reached settlements with 1,500 account holders to recover $100 million worth of funds.
Short-term Holders Underwater Amid Bitcoin Sell-off: Glassnode
Short-term holders are feeling the punch of Bitcoin’s recent downtrend, with data from Glassnode showing that they are “disproportionately underwater” on their positions.
$1 Million Bounty On Offer for Finding Bugs On Solana Validator Client ‘Firedancer’
Jump Crypto will pay developers up to a million dollars for disclosing critical bugs in Firedancer, its independent validator client for Solana.
Daily Bits… ✍️✍️✍️
🇺🇸 Multicoin Capital pledged up to $1 million to support four pro-crypto Republican Senate candidates in the upcoming elections.
💸 Bitcoin ETF investors poured $143 million into bitcoin ETFs after the cryptocurrency's price fell more than 10% post-July 4th holiday.
🛠️ Ethereum developers are cautiously weighing the integration of new features into the mainnet to avoid overloading the upcoming Pectra hard fork, delaying the launch of Devnet-1.
💵 Justin Sun announced that Tron will implement gas-free stablecoin transfers later this year, with plans to expand to Ethereum and other EVM-compatible blockchains.
🎨 Three Arrows Capital's wallet inadvertently purchased an NFT due to a three-year-old bid overlooked by its liquidators, acquiring "Neon Village" for 20 ETH ($58,800).
📜 The U.S. House will vote this week on potentially overriding President Biden's veto of Staff Accounting Bulletin 121, which affects the way banks handle customer crypto assets.
⚖️ Samourai Wallet co-founder William Lonergan Hill, arrested for money laundering, has been granted bail and plans to contest the charges in an upcoming court appearance.
🚀 Celo launched its Dango layer 2 testnet, marking the first major step towards converting its layer 1 blockchain into an Ethereum layer 2 network.
🚫 North Carolina Governor Roy Cooper vetoed a bill that would have banned central bank digital currencies (CBDCs) in the state, calling the legislation premature.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 0.5%, trading at $57,096
ETH is up 0.7%, trading at $3,032
BTC dominance: 51.11%
Crypto market cap: $2.21T
*All data as of today, 07:27 am ET. Source: CoinGecko
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