🥹 Patience Needed for the Next Bull Run?
In today’s edition: 📊 Ether's modest return vs. precious metals double-digit gains, 💵 Uniswap Labs pays $175K in CFTC settlement, and more!
Transform financial services through DeFi & Tokenization at Meridian 2024. Stellar Development Foundation’s annual conference will take place in London, UK, from October 15 to 17. Learn More.
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Bitcoin Is Just for Libertarians, Right? Two Progressives Disagree
Progressive Bitcoiners Trey Walsh and Jason Maier break down why people with their political leanings should embrace Bitcoin and how it could influence the upcoming election.
As the 2024 elections draw near, Bitcoin and crypto have become hot topics on the political stage. In this episode, Trey Walsh, host of The Progressive Bitcoiner podcast, and Jason Maier, author of “A Progressive’s Case for Bitcoin,” explain why they believe progressive values align with Bitcoin. They discuss how Bitcoin can be a tool for social justice and financial inclusion, challenge misconceptions about its environmental impact, and debate whether making Bitcoin a presidential issue in 2024 was premature.
With Sen. Elizabeth Warren attacking crypto and the unfriendly environment for the industry under the Biden administration, the guests also highlight that there’s a slight change in the Democratic party, though they are not certain that the Harris campaign will adopt a pro-Bitcoin stance.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
Earn bitcoin on Gemini here.
What’s Poppin’?
by Sage Young and Juan Aranovich
Why You Might Have to Wait a Little Longer for a Crypto Bull Market
Arthur Hayes predicts a bull run for crypto, but says it might not happen until the end of September. Here’s why.
Ether Has Been a Much Worse Investment Than Both Gold and Silver So Far This Year
Gold reached an all-time high in 2024, while silver set an 11-year record. But ether has only eked out a 3.6% return this year.
Daily Bits… ✍️✍️✍
🦄 Uniswap Labs agreed to pay $175,000 to settle CFTC charges for offering illegal leveraged and margined commodities transactions without proper registration.
⚖️ Two CFTC commissioners dissented from the $175,000 settlement with Uniswap, criticizing the case as an example of "regulation through enforcement" and questioning the broader implications for the crypto industry.
🚨 The US Federal Reserve issued a cease-and-desist order to United Texas Bank for significant deficiencies in adhering to anti-money laundering laws related to its crypto customers, requiring the bank to submit a comprehensive action plan within 90 days.
💸 Robinhood's crypto arm agreed to pay $3.9 million to settle allegations by the California Department of Justice that it prevented customers from withdrawing digital assets from their accounts between 2018 and 2022, marking the first public action by the regulator against a crypto firm.
🔗 EigenLayer announced its second "stakedrop," planning to distribute 86 million EIGEN tokens to various stakeholders, including stakers and node operators, with distribution beginning on or before Sept.17, 2024.
💰 Crypto attorney John Deaton secured the Republican nomination to challenge Elizabeth Warren for the US Senate, backed by $1.3 million in crypto donations, positioning himself as a pro-crypto advocate in the race.
🔒 The Trump-backed crypto project World Liberty Financial emphasized its commitment to security by partnering with top firms such as PeckShield and BlockSecTeam, while also expressing interest in promoting the adoption of stablecoins.
📅 The SEC extended its deadline to Nov. 21 for deciding on the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, citing the need for more time to review the proposal and public comments.
Today in Crypto Adoption...
🏦 Siemens issued a $330 million digital bond on a private blockchain, partnering with major German banks, as part of a European Central Bank trial to settle central bank money on blockchain rails.
The $$$ Corner…
⛏️ Blockstream launched a third investment round for its hashrate-backed tokenized note, BMN2, priced at $31,000, offering investors a share of the bitcoin produced by the company's mining activities over the next four years.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 0.6%, trading at $56,774
ETH is up 0.1%, trading at $2,391
BTC dominance: 53.89%
Crypto market cap: $2.08T
*All data as of today, 06:50 am ET. Source: CoinGecko
Recommended Reads
Bloomberg: Trump Family Crypto Project Vows to ‘Ensure Dollar’s Dominance’
Blockworks: Celebrating 80% price drawdowns, crypto’s most thrilling tradition
CoinDesk: In Trump-Backed Crypto Project, Insiders Are Poised for Unusually Big Token Payouts
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