The Most Lucrative Business 🤑
In today’s edition: 💵 Tether nets $5.2B in massive profits, 💼 Mt. Gox transfers $2.2B in bitcoin, ⛏ Bitcoin's hashrate approaches peak, 📉 Starknet's STRK hits rock bottom, and more!
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Bits + Bips With Nic Carter: Trump’s Promises, Kamala’s Shift & ETH’s ‘Narrative Problem’
Venture investor Nic Carter joins the show to talk about his journey to become a fighter, Trump’s promises, Sen. Lummis’ Bitcoin Reserve bill, the launch of ETH ETFs, and more.
In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann dive deep with Nic Carter into the game-changing promises Republican nominee Donald Trump is making to the crypto community, U.S. Vice President Kamala Harris’s unexpected policy shifts, and the explosive rise of Solana.
Plus, Nic reveals his unexpected journey into amateur fighting and tackles the pressing issues around Ethereum ETFs, and what ecosystem he’s been funding more as of late.
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 Juan Aranovich, Sage D. Young, and Sam Sriram
Tether Reports Record $5.2 Billion in First Half of 2024
Tether’s attestation report disclosed the stablecoin issuer made $5.2 billion in profit in the first half of the year, and owns $97.6 billion worth of US Treasuries.
Mt. Gox Moves $2.2 Billion in Bitcoin to New Wallet
The Mt. Gox Trustee said 17,000 creditors have successfully been repaid through designated crypto exchanges in July.
Bitcoin’s Hashrate Nears Record High as Selling Pressure From Miners Cools
With the price of bitcoin rebounding from its recent low of around $54,000 to roughly $66,500 at presstime, outflows from miners have decreased.
Starknet’s STRK Plunges to All-Time Low as Key Metrics Show Persistent Decline
Starknet faces significant challenges with STRK hitting an all-time low and TVL and usage declining.
Solana Memecoin Launchpad Pump.Fun Generates Record $25.6 Million in Monthly Revenue
Following its mainnet rollout in February 2024, Pump.Fun’s revenue has increased with each successive month.
Daily Bits… ✍️✍️✍️
👟 Donald Trump's site launched limited-edition Bitcoin-themed sneakers priced at $500 a pair, which sold out quickly and are now being resold for up to $2,500 on eBay.
📱 Telegram introduced an in-app browser supporting decentralized websites and a mini-app store in its latest update, enhancing its Web3 capabilities for nearly one billion users.
🔄 Compound Protocol is considering a fee redistribution plan to allocate 30% of its reserves to staked COMP holders after resolving a $24 million governance dispute.
🚀 Nansen CEO Alex Svanevik launched the Solana-based memecoin IQ, which reached a $6 million market cap within a day.
Today in Crypto Adoption...
🏦 The Bank of England and BIS unveiled Pyxtrial, a project for real-time monitoring of stablecoins' liabilities and backing assets, aiming to enhance financial oversight and transparency.
The $$$ Corner…
🌞 Daylight, a decentralized energy infrastructure project, secured $9 million in a Series A round led by A16z Crypto to build a distributed energy protocol on the Base blockchain.
📊 Crypto trading firm Breakout raised $4.5 million in seed funding led by RockawayX to support its proprietary trading services.
💰 OKX Ventures and Aptos Foundation launched a $10 million growth fund to accelerate the Aptos blockchain ecosystem, focusing on DeFi, Real World Assets, and GameFi.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 2.6%, trading at $64,357
ETH is down 4%, trading at $3,182
BTC dominance: 52.56%
Crypto market cap: $2.42T
*All data as of today, 06:26 am ET. Source: CoinGecko
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