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😳 Dems Got Harangued in Call With Web3 Leaders

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The Democratic Party appears to have an uphill battle ahead to court the crypto industry. Web3 leaders reportedly harangued high-ranking party officials in a video call, for their treatment of the crypto industry. Tellingly, Harris was absent.

Also, in U.S. politics, Donald Jr. and Eric Trump have made a series of statements and posts extolling the virtues of decentralized finance and promising to create a DeFi platform to take on banks. They also said they had nothing to do with the multiple memecoins issues that claim have endorsements or ties with the Trump family.

Plus, the SEC awarded $1M to a crypto whistleblower, PumpFun ditches launch fees, Russia legalized crypto mining, Samsung partners with Illuvium, Vega launches prediction market, and USDT arrives on Lightning Network. Last but not least, the crypto market has erased most of its losses this week.

✍️ In today’s newsletter:

  • Crypto market rebound remains intact
  • Digital assets shrug off Genesis repayments
  • RTR crashes 90% after Trump rumors quashed
  • Trump Jr plots DeFi platform
  • Democrats encounter resistance from crypto execs
  • CFTC gives $1M to crypto whistleblower
  • PumpFun overhauls fees to entice users
  • Russia greenlights crypto mining
  • Samsung and Illuvium ink strategic partnership
  • Vega Protocol ships prediction market
  • Wrapped Tether lands on Lightning Network
  • Hyperliquid rises through perp DEX rankings
  • Metis taps Chainlink CCIP

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Meet our founder, Camila Russo, at 'The Great Canadian Web3 Mixer' on Monday, August 12. This event will feature panels, networking opportunities, and free drinks.

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📈Bitcoin Price Crosses $60,000 As ETFs Attract Substantial Inflows

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Digital asset prices have held up since rebounding from Monday’s violent flash crash. Much like the downturn, the crypto recovery has moved in tandem with global stock markets.

️⬆BTC, ETH Rebound Even as Genesis Continues Repayments

Crypto prices held up despite Genesis Trading, the insolvent CeFi lender, continuing to distribute assets to creditors. Genesis has moved more than $1.5 billion worth of BTC and ETH over the past week.

🎢Crypto Twitter Pumps and Dumps Trump Memecoin

Trump-themed memecoins are proving a vehicle for attaining both fortune and ruination. Following the meteoric rise and collapse of DJT, RTR went on its own 100x price rise before rapidly shedding 90% of its value.

✊Donald Trump Jr Wants To ‘Take On’ Banks With DeFi Platform

Donald Trump Jr wants to challenge the dominance of tradfi with decentralized finance. Trump Jr also quashed rumors that he may be planning to launch a memecoin.

🗳️️Is It Too Late For The Democratic Party To Court Crypto Votes?

The Democratic Party has a steep challenge ahead in seeking to court support from the crypto industry. A Zoom meeting between high-ranking party officials and web3 execs reportedly culminated in crypto representatives lambasting the Biden administration.

💰️CFTC Awards $1 Million to Whistleblower in Digital Asset Case

The U.S. Commodity Futures Trading Commission paid more than $1 million to a crypto whistleblower who provided “information and assistance” that led to an enforcement action. Almost half of the CFTC’s enforcement actions from the past targeted digital asset projects.

✅Russia Legalizes Crypto Mining and Gives Central Bank Crypto-Specific Authority

Russia’s legislative assembly, the State Duma, greenlit is opening the doors to digital assets. The Duma passed new laws legalizing cryptocurrency mining and enabling cross-border crypto payments authorized by the Russian central bank.

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🪙Memecoins Can Now Be Created For Free on PumpFun

PumpFun, the popular memecoin launchpad, has ditched its $2 fee on newly created tokens. The project is also offering a 0.5 SOL incentive for tokens that secure a listing on the Raydium decentralized exchange.

️🤝Samsung Teams Up With Illuvium In Latest Web3 Push

Samsung is teaming up with Illuvium to promote its web3 TV bundles. Samsung will announce a strategic partnership with Illuvium at the upcoming Gamescom conference, and integrated support for Illuvium NFTs for select smart TV users.

🤔Coinbase-backed Vega Protocol Takes Aim at Polymarket With New Prediction Market

Amid surging activity on Polymarket, the leading web3 prediction market, Vega Protocol is looking to get in on the action. The Cosmos-based decentralized exchange launched the new platform as part of its Colosseo II upgrade.

⚡Wrapped USDT Lands On Lightning Network To Compete With Tron and Ethereum

Tether, the largest stablecoin by market cap, is now live on Lightning Network, a Bitcoin sidechain, following a deployment from Speed Wallet. USDT-L is backed by Tether residing on the Ethereum network.

🚀Hyperliquid Tops Perpetuals Sector Rankings

Hyperliquid, a decentralized perpetuals exchange and appchain, is now the top-ranked perps DEX by volume with more than $4 billion in daily trading. The milestone comes as Hyperliquid is hosting one quarter of perp DEX activity.

🌉Metis Integrates Chainlink CCIP For Cross-Chain Functionality

Metis, a prominent Layer 2 network, now supports Chainlink’s Cross-Chain Interoperability Protocol as its canonical cross-chain infrastructure. CCIP has generated nearly $677,000 worth of revenue for Chainlink this year.

🌍 ELSEWHERE

  • Coinbase Takes Aim at CFTC's Definition of 'Gaming' in Proposed Prediction Market Rules (CoinDesk)
  • Thailand SEC Launches Sandbox To Boost Bitcoin, Crypto Innovation (CoinGape)
  • Ripple begins testing its stablecoin RLUSD on XRP Ledger and Ethereum (The Block)

🔥TRENDING