👀 Democrats Overlook Crypto in 2024 Policy Platform
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The Democratic Party’s 2024 policy platform conspicuously makes no mention of crypto. The omission comes after rumors circulated that a Harris-led party would soften its stance towards the web3 sector.
Curve’s founder wants 21 million CRV from the Curve Community Fund to support the project’s development team. However, the project’s community is pushing back.
An impressive early morning crypto market rally came to an abrupt halt as U.S. stock indexes pulled back. While most top digital assets are sitting on modest daily gains, BTC and ETH fell at least 4% from their intraday highs.
Plus, Clearpool is working on an L2 for RWA-based DeFi, Ledn takes out the first Bitcoin-backed syndicated loan, and Bitcoin miners are pivoting to artificial intelligence.
✍️ In today’s newsletter:
- Crypto is absent from Democrats’ policy platform
- Impressive crypto rally erased by stock sell-off
- Clearpool unveils real-world asset-focused Layer 2
- Ledn bags $50M loan backed by BTC from Sygnum
- Curve community slams Swiss Stake funding proposal
- Falling profits drive BTC miners to AI
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📈 Markets in the last 24 hrs:
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🇺🇸 Democrats’ 2024 Manifesto Ignores Crypto
The U.S. Democratic Party’s 90-page policy manifesto makes no mention of crypto. The news comes despite the party’s supporters claiming Kamala Harris’s ascension to the top of the Democratic Party ranks would herald a move towards embracing the web3 sector.
🐻 Bears Halt Crypto Market Rally
Digital assets suffered a sharp pullback in recent hours, erasing most of the sector’s impressive rally during the early hours on Tuesday. Bitcoin tumbled 4% from an intraday high of $61,400, while Ethereum shed 4.8% after unsuccessfully retesting $2,700. The retracement coincided with U.S. stock indexes dipping.
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💵 Ledn Secures $50 Million Bitcoin-Backed Loan From Sygnum
Ledn, a CeFi lending platform, borrowed $50 million from institutional clients of Sygnum, a digital asset bank, via a loan collateralized by BTC. Ledn described the deal as the first Bitcoin-backed syndicated loan.
🌐 Clearpool Unveils RWA-Focused Layer 2
Clearpool, a top DeFi credit protocol, is building a Layer 2 network designed to facilitate real-world asset-based DeFi. The network, Ozean, will combine an optional compliance layer, a digital identity token for KYC requirements, a U.S. treasuries-backed native stablecoin, and an "RWA liquidity layer."
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From August 23 to 25, participants will compete for a prize pool of over $100,000 USD. The event is open to anyone interested in technology, including developers, designers, cryptographers, project managers, students, and blockchain enthusiasts.
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When: From August 23 to 25, 2024.
Registration is open until August 21: Here
About Aleph: Aleph is a gathering of the brightest minds in Argentina. During the month of August, Buenos Aires will transform into a Pop-Up City to accelerate the Crecimiento movement and turn Argentina into a global hub for startups and innovation. As part of Aleph, several initiatives will take place, including the Aleph Hackathon.
🫴 Michael Egorov Requests 21M CRV Grant To Fund Curve’s Development Team
Michael Egorov, the founder of Curve Finance, published a proposal requesting 21 million CRV tokens to fund Swiss Stake AG, the company behind Curve’s development, for one year. However, Curve’s community is pushing back against the proposal, noting it requests 44% of the Curve Community Fund and lacks a detailed costing analysis.
⛏️ Bitcoin Mining Operations are Pivoting to AI
The post-halving landscape continues to wreak havoc on Bitcoin miners. Many mining firms are now turning to the artificial intelligence sector in a bid to shore up their profits.
🌍 ELSEWHERE
- State Street and Taurus team up for digital asset custody and tokenization services (The Block)
- Solana's Former Top Decentralized Crypto Exchange Faces SEC Securities Violations (CoinDesk)
- Nigeria’s SEC to Licence Crypto Exchanges as Adoption Surges (Bloomberg)
- Most Users Keep Losing Money on Pump.Fun, Despite the Protocol’s Record Profits (Unchained)
🔥TRENDING
- Tether’s USDT to Launch on Layer 1 Aptos
- Bitcoin and Ethereum Prices Drop as Fear Grips Crypto Markets
- Memecoin Ecosystem WOMIO Announces Presale and Unveils Blueprint to Extend Memecoin Utility
- Ex Sushi CTO Joseph Delong’s New Venture is a SocialFi Dapp Called Untitled
- Blast Struggles After its Highly Anticipated Airdrop
- MakerDAO Moves Away From WBTC Over Controversial Custodian
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