Solana's 'Network Extensions' VS. Ethereum's Layer 2s 🥊
In today’s edition: 📈 21Shares enter the Ethereum's WBTC market, 🚨 SEC charges Galois Capital over custody practices, and 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.
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What’s Poppin’?
by Sage Young and Juan Aranovich
Are Solana’s ‘Network Extensions’ Just Like Ethereum’s Layer 2s But by a Different Name?
Solana community members are referring to “L2-ish things on Solana” as “network extensions,” igniting controversy among Ethereum supporters.
21Shares Enters the Wrapped Bitcoin Market on Ethereum
The competition to gain a share of the wrapped bitcoin market is heating up as WBTC faces scrutiny following changes in its custodial arrangements by BitGo.
Daily Bits… ✍️✍️✍
⚖️ The SEC settled with crypto-focused investment advisory firm Galois Capital over custody issues related to client assets, specifically concerning the improper use of non-qualified custodians such as FTX.
🔗 A Donald Trump-backed DeFi project, World Liberty Financial, reportedly draws inspiration from Dough Finance's code and will involve a non-transferable governance token and credit protocol, with Trump's sons involved in the planning.
🚨 The X accounts of Donald Trump's daughter-in-law and daughter, Lara and Tiffany Trump, were hacked to promote a fraudulent crypto token supposedly linked to World Liberty Financial, leading to warnings from Eric Trump and the project to avoid any links or tokens shared from their compromised profiles.
🔄 Polygon will begin the swap of its MATIC token for the new POL token on Wednesday, as part of the Polygon 2.0 roadmap, which brings changes in its tokenomics and expands the token's role within the ecosystem.
💰 The CFTC recovered $18 million in digital assets from Sam Ikkurty, accused of running a Ponzi scheme disguised as a "crypto hedge fund" that severely underperformed and defrauded investors.
🚨 Bitcoin miners experienced their worst month in a year, with revenues plunging to $851 million in August, reflecting a 57.5% drop since March, as they struggle with the post-halving environment.
💥 Penpie, a yield generation protocol built on top of Pendle Finance, suffered a $27 million exploit due to a smart contract vulnerability, prompting Pendle Finance to pause all smart contracts to ensure user funds remain secure.
🚀 TON Ventures launched a $2.5 million accelerator program to attract developers, despite recent turmoil from the arrest of Telegram's CEO, which caused Toncoin’s price to plummet by 22%.
💱 Ethena’s USDe will soon be available for deposit on Ether.fi, allowing users to exchange it for a new liquid restaking token called eUSDe, providing a dollar-pegged asset for EigenLayer restaking.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 4.2%, trading at $56,533
ETH is down 4.3%, trading at $2,393
BTC dominance: 53.85%
Crypto market cap: $2.08T
*All data as of today, 06:50 am ET. Source: CoinGecko
Recommended Reads
Forbes: BBC Bitcoin Coverage Raises Concern Over Its Journalism And Trust
DL News: Solana ETFs are a ‘non-starter’ for one reason — despite SOL’s growth
Boom Times... Delayed by BitMEX co-founder Arthur Hayes
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