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June 12, 2024

⛏️Trump Courts Bitcoin Miners

Together with

the-defiant

GM Defiers!

Donald Trump is seeking support from Bitcoin miners in the Republican presidential candidate’s latest bid to court the crypto industry. Trump met with executives from top U.S. Bitcoin mining firms and reportedly pledged to support the sector if re-elected.

ProShares has quickly emerged as a contender in the race to bring a spot Ether ETF to market. The firm submitted both 19b-4 and S-1 filings with the SEC in the past week, with the SEC already listing the prospective fund on its website.

Exchange-traded products tracking the price of ETH posted their highest inflow since March. The milestone signals institutional bullishness in anticipation of spot ETF debuts.

Plus, Consensys launched pooled staking with no minimum deposit, Pirate Nation’s users spiked ahead of its token launch, and digital assets tumbled ahead of the U.S. inflation report.

✍️ In today’s newsletter:

  • Bitcoin mining execs meet with Trump
  • ProShares makes quick Ether ETF progress
  • Ethereum ETPs attract inflows
  • Consensys wants to eat Lido’s lunch
  • Users converge on Pirate Nation
  • Digital assets pull back on inflation fears

🙏Sponsored

📈 Markets in the last 24 hrs:

TickerValue24h
Bitcoin$70,5262.20
Ethereum$3,817 1.12
Gold 1st Future$2,348 0.05
S&P 5005291.34 0.15
Arch Web32.48 5.34
Learn more about Arch Indices

🎬WATCH

Check out our podcast with Johann Kerbrat, the general manager of Robinhood Crypto, to learn about the firm’s latest forays into web3. And catch up on our interview with Bobby Ong, the co-founder of CoinGecko, to learn about the popular crypto data provider. Plus, watch our DeFi 101 video exploring the basics of DeFi!

THANKING OUR NEWSLETTER SPONSORS

| NEWSLETTER CONTINUES BELOW |

the-defiant

Stellar empowers builders to unlock human and economic potential. Explore the new Stellar smart contract platform, Soroban, designed for scale and sensibility.

🇺🇸 Trump Wants All Remaining Bitcoin Mined In The United States

the-defiant

Bitcoin miners are the latest target of Donald Trump’s pro-crypto campaigning, with the former President meeting with executives representing major U.S. Bitcoin mining firms. The Republican candidate pledged to support the industry if re-elected but failed to announce any policy proposals to bolster the sector.

🆕ProShares Quickly Emerges As Spot Ether ETF Contender

ProShares, an issuer of exchange-traded funds commanding $70 billion in assets, has quickly thrown its hat into the spot Ethereum ETF race. The firm filed a 19b-4 form with the SEC on July 7 and an S-1 registration statement on June 11. ProShares also launched 2x long and short leveraged Ether ETFs last week.

💰Ethereum Funds Draw Highest Inflows Since March

Ethereum exchange-traded products are attracting bullish inflows amid spot Ether ETF hype. Institutions poured $69 million into Ethereum ETPs last week, accounting for 85% of the sector’s 2024 inflows.

SPONSORED POST

the-defiant

One might wonder why an L1 would release an all new smart contract platform in 2024; What could this ecosystem possibly be looking to contribute to a market already saturated with mature players?

Soroban was released as an integral part of Protocol 20 to the Stellar mainnet in May of 2024; The vision was to take a battle proven chain optimized for low cost remittance and layer on added utility that could further the mission of providing greater financial access.

Here are five key problems solved with Stellar’s smart contract platform.

READ MORE: Five Key Challenges with DeFi Solved with the Stellar Smart Contract Platform

🥪Consensys Eyes Lido’s Lunch With No-Minimum Pooled Staking

Consensys is positioning its popular MetaMask Ethereum wallet in competition with liquid staking protocol Lido. Consensys launched a pooled ETH staking service for MetaMask users with no minimum deposits that allows stakers to withdraw at any time.

🏴‍☠️Crypto Game Pirate Nation’s Activity Soars Ahead of Token Launch

Activity on the web3 game Pirate Nation has soared ahead of the project’s token generation event. PIRATE is set to go live on June 13, with the Pirate Nation team promising the asset will have in-game utility from day one.

📉Bitcoin Tumbles 5% as Dollar Spikes to 4-Week High

Crypto markets pulled back in the run-up to the U.S. Federal Reserve’s latest interest rate decision. Bitcoin ETFs also posted outflows on Monday, snapping a streak of 19 straight daily inflows.

🌍 ELSEWHERE

  • Crypto airdrops have distributed around $4 billion so far this year (The Block)
  • Brazil's Largest Bank Itaú Opens Bitcoin and Crypto Trading to All Users (Bitcoin Magazine)
  • Polkadot parachain Moonbeam launches a $13M Web3 gaming fund (CryptoSlate)
  • Arbitrum Is Preparing to Fully Remove Its Training Wheels in Becoming a Stage 2 Ethereum Rollup (Unchained)

🔥 TRENDING