👀 Kamala Harris Advisor Promotes Crypto Agenda

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A senior advisor to the Kamala Harris campaign claims Harris will back pro-crypto policy if elected. The comments come despite the Democratic Party failing to mention crypto in its 2024 policy platform.

AVAX is rallying as mainstream institutions continue to adopt Avalanche. Franklin Templeton expanded its tokenized U.S. Treasuries fund onto the network on the same day that Grayscale launched its Avalanche Trust.

Brazilian regulators approved the country’s second spot Solana ETF. However, the chances of SOL funds launching in the U.S. appear to be quickly evaporating.

Plus, Aave launches on ZKsync Era, Near ships Nightshade 2.0 upgrade, CryptoPunks leads NFT comeback, Binance faces a lawsuit alleging RICO violations, and Tether announces a UAE Dirham stablecoin.

✍️ In today’s newsletter:

Brian Nelson says Kamala Harris will back crypto
Grayscale Avalanche Trust sends AVAX flying
Franklin Templeton launches FOBXX on Avalanche
Brazil greenlights second Solana ETF
Aave deploys on ZKsync Era
Near upgrades sharding infrastructure
CryptoPunks rally amid NFT resurgence
Binance faces class action lawsuit
Tether to launch UAE Dirham stablecoin

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🇺🇸 Harris Campaign Advisor Says Kamala Will Support Crypto Industry

Brian Nelson, a senior advisor to the Kamala Harris campaign and undersecretary for terrorism and financial intelligence, told a Bloomberg panel that Harris will support policy that grows the web3 sector. While Harris is rumored to be friendlier to crypto than Biden, the 2024 Democratic Party’s policy platform made zero mention of web3.

🚀 AVAX Surges On Grayscale Avalanche Trust Announcement

Avalanche’s AVAX token is on a tear following the launch of Grayscale’s Avalanche Trust. The fund serves as a vehicle for accredited investors to gain exposure to AVAX and marks Grayscale’s 22nd digital asset exchange-traded product.

💵 Franklin Templeton’s On-Chain Treasuries Fund Launches On Avalanche

AVAX was also buoyed by Franklin Templeton launching its on-chain U.S. treasuries fund, FOBXX, on the Avalanche network. The news marks FOBXX’s fourth deployment, following Arbitrum, Polygon, and Stellar.

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🇧🇷 Brazil Approves Second Spot Solana ETF

Brazil’s securities regulator has greenlit the nation’s second spot Solana ETF. The news comes after several U.S. asset issuers have filed with the U.S. Securities and Exchange Commission (SEC) to launch their own spot SOL funds, however, analysts argue U.S. applicants have little chance of approval.

👻 Aave Launches on ZKsync Era

Aave, the largest DeFi money market, is now live on the ZKsync Era network. The deployment supports USDC, USDT, WETH, and wstETH markets. The launch follows AAVE rallying 50% in the past 30 days.

🆕 Near Protocol Deploys Nightshade 2.0 Upgrade On Mainnet

Near Protocol shipped its Nightshade 2.0 upgrade, updating the network’s sharding infrastructure and accelerating transaction execution by an estimated 400%. Near validators no longer need to store the network state of every Near shard, increasing the performance of node operators.

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⬆️ CryptoPunks Lead Ethereum NFT Resurgence

The floor price of CryptoPunks is up 35% in less than one week as Ethereum-based NFT collections bounce back. Bored Ape Yacht Club (BAYC) tokens are also up 41% since the start of the week, and Pudgy Penguins gained 14.4% in seven days.

⚖️ Binance and Former CEO Changpeng Zhao Face Class Action Lawsuit Over Alleged Crypto Laundering

Binance and its former CEO, Changpeng Zhao, are facing a class action lawsuit alleging violations of the U.S. Racketeer Influenced and Corrupt Organization (RICO) Act. The lawsuit accuses Binance of knowingly facilitating the laundering of stolen funds and was filed on behalf of individuals who previously suffered Coinbase exploits.

🇦🇪 Tether to Launch UAE Dirham Stablecoin

Tether, the world’s largest stablecoin issuer, announced plans to launch a stable token pegged to the UAE Dirham. The token will be launched in partnership with Phoenix Group, a major UAE-based mining firm.

🌍 ELSEWHERE

Binance Hiring 1,000 as Compliance Spending Tops $200M (Bloomberg)
PayPal’s PYUSD Introduces Interest Rewards With Anchorage Bank Partnership (Coin Gape)
$4B cryptocurrency scammer caught in Istanbul (Turkey Today)
Bitcoin OTC Desk Balances at Two-Year High: CryptoQuant (Unchained)