🤑 Trump's Pro-Crypto VP Nod?
In today’s edition: 📅 Spot ether ETFs set for launch, 📊 DeFi protocol fees surpass Ethereum, Solana, ⬇️ Bitcoin mining hits profit lows, and more!
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What’s Poppin’?
by Sage Young and Sam Sriram
Trump Picking J.D. Vance as Vice Presidential Running Mate Sends Vance Related-Memecoins Soaring
VANCE and VENCE have both seen huge gains in the past seven hours.
Spot Ether ETFs to Start Trading on July 23: Report
The SEC has reportedly given preliminary approval for some spot ether ETFs to begin trading as soon as next Tuesday.
DeFi Protocols Such as Lido Are Generating More Fees Than Layer 1 Blockchains
DeFi protocols Lido and Raydium together collected roughly $37 million in fees in the past seven days, while Ethereum and Solana garnered a combined $25 million.
Bitcoin Mining Profitability Nears 6-Year Low
Foundry and Antpool mined 54% of all Bitcoin blocks over the last year as the competitive landscape for mining eroded profitability.
Daily Bits… ✍️✍️✍️
💰 Mt. Gox, the defunct Bitcoin exchange, transferred nearly $5.8 billion in bitcoin to unknown addresses in a series of significant transactions ahead of anticipated creditor payouts.
🎯 The Bitcoin network is facing increased "mempool sniping," where sophisticated traders front-run transactions to dominate Ordinals trading, making it difficult for less experienced traders to secure bids.
🔄 BlackRock CEO Larry Fink is now describing bitcoin as "digital gold" and acknowledging its legitimacy as a financial instrument.
🔒 Tether blacklisted a wallet holding $29.6 million USDT, linked to the DMM Bitcoin hack and allegedly connected to the North Korean Lazarus Group.
🎭 North Korean hackers are reportedly infiltrating crypto job boards with fake applications in a scheme believed to have netted $600 million.
🇰🇭 Cambodian payments firm Huione Pay reportedly received over $150,000 in crypto from North Korean hackers, unknowingly facilitating funds stolen by the Lazarus Group. Last week Elliptic issued a report noting that a subsidiary of Huione Pay was actively involved in money laundering of scam funds from around the world.
⚖️ Plaintiffs in a class action lawsuit against Tether and Bitfinex filed a new, streamlined complaint accusing the companies of manipulating crypto markets and violating anti-trust laws.
📧 Coinbase narrowed its subpoena for SEC Chair Gary Gensler's communications to only cover his tenure at the agency, following concerns from a New York judge overseeing the case.
👤 A Russian market is reportedly selling anonymous headshots for bitcoin, enabling fraudsters to bypass KYC checks on crypto exchanges and other services.
The $$$ Corner…
💰 Bima Labs closed $2.25 million in seed funding led by Portal Ventures to develop its Bitcoin-backed stablecoin, USBD.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 1.6%, trading at $63,546
ETH is up 2.4%, trading at $3,415
BTC dominance: 51.18%
Crypto market cap: $2.45T
*All data as of today, 06:47 am ET. Source: CoinGecko
Recommended Reads
Macro trader Alex Kruger on the ‘Trump trade’
CryptoBanking: Lending and stablecoins
DL News: Here’s where Trump VP pick JD Vance stands on crypto
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