🚀🤝 XRP Soars After SEC Settlement
In today’s edition: 💰 FTX creditors secure $12.7B CFTC payout, 🐱🐶 Cats and dogs lead the crypto rebound, 💼 Ethena expands synthetic protocol to Solana, and more!
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What’s Poppin’?
by Sage D. Young and Sam Sriram
XRP Rallies 20% After SEC-Ripple Case Nears End With $125 Million Settlement
XRP was the top performing crypto asset with $5.3 billion worth of trading volume over the last 24 hours.
FTX Creditors to Receive $12.7 Billion From CFTC Settlement
A US District Judge approved a settlement between FTX, Alameda Research, and the CFTC, which will see $12.7 billion paid out to FTX creditors.
Cat-Themed and Solana Meme Tokens Top Price Performance in Last 24 Hours
As the crypto markets attempt to recover from the recent bloodbath, cat-themed cryptocurrencies such as POPCAT and Solana-based memecoins such as WIF are leading the rebound.
Synthetic Dollar Protocol Ethena Expands to Solana, Includes SOL as Backing Asset
The integration aims to increase the adoption of Ethena’s cryptocurrencies: USDe and sUSDe.
Daily Bits… ✍️✍️✍️
🎯 The digital assets industry’s Fairshake PAC claimed another victory, as its spending helped defeat Rep. Cori Bush in the Missouri primary, marking the third win this week against candidates supported by Sen. Elizabeth Warren.
💰 Robinhood's Q2 crypto revenues surged 161% to $81 million compared to the same period last year, while trading volumes hit $21.5 billion — down 40% from Q1's $36 billion in trading volume.
🇺🇸 Over 50 crypto firms, including Coinbase and Circle, urged President Biden and Vice President Harris to establish clear regulations for digital assets, warning that the current enforcement approach without clear rules has harmed consumers and stifled innovation.
🔒 The New York Federal Reserve found that despite the sanctions, Tornado Cash remains a viable privacy tool, although its transaction volume and user diversity significantly decreased post-sanctions.
📊 Grayscale launched two new crypto investment products, the Grayscale Bittensor Trust and Grayscale Sui Trust, adding to its suite of 18 crypto investment products.
Today in Crypto Adoption...
🏦 Hong Kong digital bank Mox has launched bitcoin and ether ETFs for its customers and plans to offer direct crypto investments through a licensed exchange, aiming to differentiate with lower fees.
The $$$ Corner…
📡 Solana-based DePIN project Andrena closed $18 million to develop a decentralized autonomous wireless network (DAWN), aiming to provide decentralized internet services.
💼 Former CoinShares chief strategy officer Meltem Demirors is raising $75 million for two new venture funds, Crucible Capital Fund I and 1-A, to invest in digital assets.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 0.1%, trading at $57,420
ETH is down 3.5%, trading at $2,444
BTC dominance: 53.83%
Crypto market cap: $2.11T
*All data as of today, 06:45 am ET. Source: CoinGecko
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