FTX’s Deadline for a Reboot Decision ⏰
In today's edition: 🎙️ New episode on FTX, more $BTC products, Fidelity's proposal, and more!
What’s Poppin’?
by Samyuktha Sriram
CME Group to Launch Ether to Bitcoin Ratio Futures
The derivatives marketplace expects that the new product will let traders efficiently capture the value of ETH and BTC in a single trade.
Fidelity Re-Files for Spot Bitcoin ETF
The $4.5 trillion asset manager has refiled a proposal to list the Wise Origin Bitcoin Trust.
Coinbase Moves to Dismiss SEC Lawsuit
The crypto exchange argued that the securities regulator has violated due process and has changed its own view of its authority over digital assets.
Bitcoin Cash Surges 110% in a Week
The 2017 Bitcoin fork has extended its seven-day rally with soaring levels of open interest, trading volume and social interest.
John Ray III Has a Timeline for FTX’s Bankruptcy Plan: Source
by Juan Aranovich
John Ray is facing a big question right now: Reboot or liquidation? Thomas Braziel shares exclusive insights into FTX’s uncertain future.
On the Pod…
From “hush money” allegations to a prospective FTX relaunch, it’s been a crazy week for those following the legal saga of Sam Bankman-Fried’s collapsed crypto empire. Perhaps few are following it more closely than 507 Capital founder Thomas Braziel, who specializes in the trading of bankruptcy claims. He explains the significance of a spate of recent headlines and shares newsworthy tidbits from his meeting with new FTX honcho John J. Ray III.
Daily Bits…✍️✍️✍️
🔄 PancakeSwap, a decentralized exchange, is set to launch on the Polygon zkEVM network, marking its fourth blockchain integration following BNB Chain, Ethereum, and Aptos.
🗓️ The CFTC's Technology Advisory Committee is set to discuss DeFi, DAOs, and the Ooki DAO case, among other issues, in its meeting scheduled for July 18.
🍁 Canadian digital asset manager 3iQ will introduce ether staking to its Ether Fund and ETF, partnering with Coinbase for staking infrastructure and custody, beginning approximately on Aug. 28.
🔒 Coinbase's layer 2 blockchain, Base, has undergone a series of security audits in preparation for its mainnet launch.
⛓️ Decentralized exchange DYDX is preparing to launch the public testnet of its Cosmos-based blockchain on July 5, which will initially support Bitcoin and Ethereum markets, with plans to add over 30 more in future upgrades.
📜 The UK's Financial Services and Markets bill, which includes provisions for regulating the crypto sector and supervising web3 promotions, was officially passed into law.
🌐 Swiss private bank Julius Baer is planning to expand its crypto services to Dubai, marking its first crypto venture outside of Switzerland.
The $$$ Corner…
💰🚀 Following a $2 million pre-seed funding round, DeFi protocol AlloyX introduced a vault offering access to real-world asset liquidity, merging tokenized credit with a smart contract for U.S. Treasury bills.
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What Do You Meme?
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The Big Criticisms of Centralized Exchanges
Centralized exchanges undergird the entire crypto industry. But are these titanic businesses fit for purpose?
📈 Your Market Update 📉
BTC is up .3%, trading at $30,760
ETH is up 1.2%, trading at $1,887
BTC dominance: 48.33%
Crypto market cap: $1.24 trillion
*All data as of today, 6:45 am ET
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Recommended Reads
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“Chair Gensler Must Recuse Himself From Digital Asset Enforcement Decisions” by Jake Chervinsky and Marisa Coppel
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