🏛🤷♀️ Which Democrats Could Champion Crypto ?
In today’s edition: 🚨🇺🇸 Biden exits the race, crypto markets react, 🔒 Lending protocol Rho counters $7.6 million hack, and more!
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Congressman French Hill on Crypto and His Top Pick for the Next SEC Chair
Rep. French Hill, who is running to chair the House Financial Services Committee, reveals his preference for the next SEC Chair if Trump wins, gives his odds on a crypto bill passing by year’s end, and says he supports the CFTC regulating spot crypto markets.
In this episode of Unchained, Congressman French Hill provides an insider’s perspective on the present and future of crypto regulation.
Hill delves into the ongoing legislation and the implications of the FIT21 Bill, shares his views on who should succeed Gary Gensler as SEC Chair if Trump is re-elected, and discusses the controversial role of the CFTC in regulating the crypto industry. He also touches on the potential impacts of the Chevron doctrine being overturned by the Supreme Court, Trump’s evolving stance on crypto, and the latest developments in the Binance executive detention case in Nigeria.
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 Jason Brett, Sam Sriram and Sage Young
As President Biden Steps Down, Where Do Kamala Harris and Other Potential Candidates Stand on Crypto?
Biden has endorsed his Vice President to be the Democratic nominee, but her nomination is not a done deal and there are other candidates with significant views on crypto.
How the Crypto Market Reacted to Joe Biden Dropping Out of the Presidential Race
Large scale liquidations, a spike in memecoin trading activity and heavy losses across prediction markets followed U.S. President Joe Biden’s announcement that he would be dropping out of the election race.
Scroll Lending Protocol Rho Says No Funds Lost After $7.6 Million ‘Oracle Exploit’
The Rho Markets hackers said they were willing to fully return funds as long as the protocol admitted the issue resulted from a misconfiguration on their end.
Daily Bits… ✍️✍️✍️
📊 Five spot Ethereum ETFs will commence trading on Cboe on July 23, according to new procedural issue notifications from the exchange.
⚡ Paraguay shut down over 70 illegal bitcoin mining operations in the past five years, which reportedly stole enough electricity to power an entire city, according to the country's national energy supplier.
🔒 Binance introduced the Binance Account Bound Token (BABT), a non-transferable proof-of-KYC token that users can utilize across various crypto and DeFi platforms, enhancing onchain identity verification.
💬 Ethereum core developers are debating the inclusion of EVM Object Format (EOF) in the upcoming Pectra upgrade, with some, such as Geth developer Marius van der Wijden, expressing concerns over its potential risks and complexity.
💻 A data breach at decentralized identity startup Fractal ID has been traced back to a compromised employee account from 2022, affecting around 6,300 customers.
📱 Telegram announced the launch of a mini app store and in-app browser to support Web3 pages, capitalizing on the popularity of blockchain-based games such as Hamster Kombat and Notcoin.
🛡️ Following a $230 million exploit, WazirX and Liminal Custody are blaming each other for the security breach, with WazirX citing discrepancies in Liminal's interface and Liminal denying any breach in its infrastructure.
🇨🇳 BitForex, a cryptocurrency exchange, will resume withdrawals after a five-month suspension due to a Chinese police investigation, though trading and deposits remain halted.
🔍 Blockchain security firm Veridise reported that audits of zero-knowledge (ZK) projects are twice as likely to identify critical issues compared to other types, with 55% of ZK audits uncovering critical vulnerabilities versus 27.5% for other DeFi audits.
The $$$ Corner…
☁️ Nirvana Labs, a Web3 cloud infrastructure firm, raised $4 million in a seed round led by Castle Island Ventures and RW3 Ventures, aiming to enhance its specialized services for blockchain applications.
💸 Etherfuse, a platform for tokenizing real-world assets, secured $3 million in seed funding, bringing its valuation to $12.5 million and total funding to $5 million.
What Do You Meme?
📈 Your Market Update 📉
BTC is up .9%, trading at $67,514
ETH is flat, trading at $3,498
BTC dominance: 51.68%
Crypto market cap: $2.57T
*All data as of today, 06:33 am ET. Source: CoinGecko
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