🇺🇸 How Crypto Can Secure Bipartisan Support
In today’s edition: 🚀 Bitcoin surges amid massive ETF inflows, 🎤 Traders 'cope' as rapper Iggy Azalea's token surpasses $100M market cap, ⚖️ FTX settles $24B tax dispute, and more!
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In this episode, Laura Shin speaks with former CFTC chairman Chris Giancarlo and former CFTC chief innovation officer Daniel Gorfine on the pressing need for the US to safeguard the dollar. They explain why they believe the future of regulation is the government operating nodes on blockchains rather than regulating intermediaries, why even private USD stablecoins will want a USD central bank digital currency, and how China might export the technology behind the digital yuan—and its surveillance capabilities—to other countries. They also touch on how the upcoming US elections could influence crypto policy, why stablecoins are more than just trading instruments, and what the US must do to maintain its financial leadership.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
OPINION: In the Ongoing SAB 121 Fight, Here’s How Crypto Can Move Forward With Bipartisan Support
by Kristin Smith
Despite the Biden veto, Congress is already displaying bipartisanship. The Blockchain Association plans to capitalize on this momentum—and the crypto community can help.
What’s Poppin’?
by Sage Young, Juan Aranovich, and Sam Sriram
Bitcoin Rises to $71,200 as ETFs Clock Second Best Day of Inflows
Bitcoin surged past $71,000 as spot bitcoin ETFs saw their second highest day of inflows on record.
Traders Coping As Iggy Azalea’s MOTHER Token Surpasses $100 Million Market Cap
After MOTHER’s initial bleed out to fractions of a penny that lasted until the start of June, the token has since reached a market cap of $108 million.
FTX Reaches Settlement With IRS Over $24 Billion Tax Claim
The IRS will receive a $200 million priority claim from FTX, and a $685 million lower priority claim payable to the extent that funds are available.
Investors of BlackRock’s BUIDL Fund Receive $1.7 Million in Monthly Dividends on Ethereum
Ondo Finance’s crypto wallet, labeled on Etherscan as “OUSD Instant Manager,” is the largest recipient of BlackRock’s BUIDL’s monthly dividend, receiving roughly 42% of the total pot.
ZkSync Airdrop Could Be Valued Higher Than the Entire Network’s TVL
A 10% airdrop of ZkSync tokens could be worth over $1.3 billion, which is almost double zkSync’s current TVL of $852 million.
ZK Firm StarkWare to Create $1 Million Fund for Research Into Bitcoin’s OP_CAT Proposal
Implementing OP_CAT is a preliminary step to incorporating a new layer 2 that could connect Bitcoin and Ethereum.
Daily Bits… ✍️✍️✍️
📝 U.S. lawmakers urged President Biden to treat the detention of Binance exec Tigran Gambaryan in Nigeria as a hostage situation and work to bring him back. Gambaryan, who has been held for nearly three months, may be suffering from malaria.
📈 BNB token surged to a new all-time high of over $700, rising more than 11% in 24 hours. The rally, supported by Binance Launchpool's popularity, brings BNB's market cap to $107 billion.
🚫 Sahil Arora, alleged celebrity memecoin scammer, was banned from social media platform X after celebrities, such as Caitlyn Jenner and Iggy Azalea, accuse Arora of running “pump and dump” schemes.
💼 The SEC will close its Salt Lake City office after seeing “significant attrition” amongst its staff, following a judge's dismissal of the DEBT Box fraud lawsuit and sanctions against SEC lawyers.
🐕 DWF Labs will buy $12 million worth of Floki tokens to support the ecosystem's growth, following a previous $10 million purchase that boosted FLOKI's price by 50%.
The $$$ Corner…
📈 Avail, a data availability blockchain project spun off from Polygon, raised $43 million in Series A funding co-led by Founders Fund, Dragonfly, and Cyber Fund.
💸 Tether announced an $18.75 million investment in Taiwan-based cryptocurrency exchange XREX to enhance cross-border payments in emerging markets using USDT.
🛡️ Fhenix, an Ethereum layer 2 network focused on data confidentiality, garnered $15 million in a Series A round led by Hack VC. The firm also launched its open testnet.
🎨 Stashh Labs raised over $3.3 million from investors including Animoca and 6th Man Ventures to upgrade its NFT platform. The new iteration supports encrypted NFTs and multiple new use cases.
💰 El Dorado, a stablecoin-powered “superapp,” secured $3 million in seed funding from Multicoin Capital, Coinbase Ventures, and others to expand in Latin America.
🔒 Polygon Labs acquired blockchain research firm Toposware, adding to its zero-knowledge cryptography portfolio, with the company valued between $30-50 million.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 2.4%, trading at $70,729
ETH is up .6%, trading at $3,791
BTC dominance: 50.32%
Crypto market cap: $2.77T
*All data as of today, 07:05 am ET. Source: CoinGecko
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