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• Jul 17, 1:12 PM DeFi Llama News

  Bitwise CIO predicts Ethereum will hit record high after ETF launch

  Bitwise CIO Matt Hougan forecasts Ethereum to surpass $5,000 after spot Ether ETFs launch. He cites three key factors: Ethereum's slowed supply growth due to its burn feature, fewer sellers as stakers replace miners, and 28% of ETH supply locked in staking. Hougan expects $15 billion inflow to Ethereum ETFs in the first 18 months. Bitcoin is trading at $65,000, up 3%, while Ethereum is at $3,476, up 1.8%.

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• Jul 16, 11:36 PM Coindesk

  Trump plans fourth NFT collection as campaign raises $3 million in crypto

  Former President Donald Trump is set to release a fourth NFT collection, citing high demand. His presidential campaign has raised about $3 million in crypto, mainly Bitcoin and Ether. Trump has shifted his stance on crypto, now embracing the industry to prevent China from dominating the space. He's garnered support from major crypto figures and selected pro-Bitcoin Senator J.D. Vance as his running mate. Trump views the US crypto industry as a promising but nascent sector.

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• Jul 16, 7:46 PM Crypto Briefing

  Trump shifts crypto into wedge issue for 2024 campaign

  Former US President Trump has pivoted to a pro-crypto stance for the 2024 election, contrasting his previous skepticism. He aims to promote Bitcoin mining, protect self-custody, and oppose CBDCs. This shift aligns with industry interests and appeals to crypto voters. Trump's campaign emphasizes American leadership in emerging tech, including crypto. The move comes amid renewed optimism in crypto markets, with Bitcoin near all-time highs. Industry players hope a potential Trump administration could ease regulatory pressures on crypto businesses.

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• Jul 16, 4:30 PM Beincrypto

  ARB crosses key moving average for first time since June 5

  Arbitrum's ARB token surged 10% in the last week, crossing its 20-day EMA for the first time since June 5. The token is trading in an ascending channel, signaling a bullish trend. ARB's Chaikin Money Flow is positive, indicating market strength. However, new demand for ARB has declined, with a 2% drop in new addresses and a 10% decrease in daily active addresses. Sustained demand is crucial for ARB to potentially reach $0.99, while profit-taking could push it down to $0.55.

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• Jul 16, 2:10 PM Coindesk

  Trump campaign receives $3m in crypto donations during Q2 fundraising

  Former President Trump's campaign raised $3m in crypto out of $331m total in Q2. About 100 donors contributed crypto, including industry figures like the Winklevoss twins and Jesse Powell. The campaign's crypto-friendly stance has attracted high-profile supporters from the sector. Trump aims to make US crypto regulations more favorable if elected. Despite being a small portion of total funds raised, crypto donations have garnered significant media attention.

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• Jul 16, 2:08 PM Crypto Briefing

  DEX trading volume rises 15.7% in Q2 while CEX activity drops

  DEX spot trading volume increased 15.7% to $370.7 billion in Q2 2024, while CEX volume declined 12.2% to $3.4 trillion. Uniswap maintained 48% DEX market share. Thruster and Aerodrome saw significant growth. Binance held top CEX position with 45% market share. DEX growth attributed to meme coins and airdrops. Experts cite DEX advantages like privacy and self-custody as drivers for shift from CeFi to DeFi. Solana supports over 33% of daily DEX volume across all blockchains.

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• Jul 16, 1:22 PM Crypto Briefing

  LI.FI protocol warns users of potential exploit with $10 million drained

  LI.FI, an interoperability protocol, advised users to avoid interacting with apps using their infrastructure due to a possible exploit. Nearly $10 million has been drained from the protocol. Users who manually set infinite approvals are at risk. The exploit may be a "call injection" attack. Popular applications like Rabby wallet and Jumper Exchange use LI.FI services. Users are urged to revoke approvals for specific contract addresses. This incident highlights the ongoing security challenges in the crypto space.

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• Jul 16, 6:46 AM Crypto Briefing

  Mt Gox wallet transfers small amount of Bitcoin as repayment process begins

  A Mt Gox-linked wallet transferred 0.021 Bitcoin, worth $1,300, to an unknown address. This small move, possibly a test transaction, coincided with Bitcoin dropping below $64,000. Mt Gox's trustee confirmed the start of the repayment process on July 5. Some users reported receiving Bitcoin and Bitcoin Cash from Mt Gox via Bitbank. The refund is being sent to designated exchanges, not directly to holders. The Mt Gox wallet currently holds over 138,900 BTC, valued at $8.8 billion.

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• Jul 16, 6:06 AM The Block

  FTX and CFTC agree to 12.7 billion dollar settlement pending judge approval

  FTX and the CFTC have reached a 12.7 billion dollar settlement agreement, subject to approval from a Delaware judge. The deal resolves ongoing litigation and is part of FTX's Chapter 11 reorganization plan. The CFTC will forgo recovery if FTX complies with the plan, allowing up to 12.7 billion dollars to be paid to creditors. This settlement includes 8.7 billion dollars in restitution and 4 billion dollars in disgorgement. FTX's reorganization plan aims to compensate 98% of creditors with at least 118% of allowed claims.

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• Jul 15, 11:30 PM Cryptoslate

  Coinbase, Ripple, and a16z to attend national conventions for pro-crypto policy

  Coinbase, Ripple, and a16z plan to attend the RNC and DNC to advocate for crypto-friendly policies. The GOP has added crypto issues to its 2024 platform, opposing CBDCs and supporting mining and self-custody rights. Democrats' draft platform doesn't mention crypto. These firms are part of the Fairshake super PAC, which has spent $70.9 million in the 2024 election cycle to support pro-crypto candidates across party lines. The move highlights crypto's growing importance in US politics.

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• Jul 15, 9:06 PM Coindesk

  SEC tells Ethereum ETF issuers funds can start trading July 23

  According to sources familiar with the matter, the SEC has informed issuers of spot ETH ETFs that they can begin trading next Tuesday, July 23. The SEC reportedly told issuers that it had no further comments on recently submitted S-1 documents and requested final versions to be submitted by Wednesday.

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• Jul 15, 7:43 PM Crypto Briefing

  Bloomberg analyst says Ethereum ETFs to launch July 23

  Bloomberg ETF analyst Eric Balchunas predicts spot Ethereum ETF trading in the US to start July 23. SEC is asking issuers to submit final S-1 forms by July 17. Most issuers left fees out of initial filings, likely to gauge competition. The launch coincides with the Bitcoin Conference in Nashville. Bitwise CIO forecasts $15 billion in inflows for Ethereum ETPs by end of 2025. This development paves the way for potential approval of other crypto ETFs, with VanEck and 21Shares already filing for Solana ETFs.

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• Jul 15, 4:06 PM Crypto Briefing

  BlackRock CEO declares Bitcoin a legitimate financial instrument

  BlackRock CEO Larry Fink, once a Bitcoin skeptic, now endorses it as a legitimate financial instrument. Fink views Bitcoin as digital gold with industrial uses, offering uncorrelated returns and financial control in uncertain times. BlackRock's involvement was crucial in approving Bitcoin and Ethereum spot ETFs in the US. The firm has also entered the tokenization space with its BUIDL fund, which has over $524 million in tokenized US Treasuries on Ethereum.

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• Jul 15, 3:40 PM Decrypt

  US district court judge delays Tornado Cash co-founder's trial

  A US judge delayed Tornado Cash co-founder Roman Storm's money laundering trial by three months. The defense cited complex legal issues and extensive documentation needing translation. Key arguments revolve around whether a decentralized service can be controlled by founders. The case highlights ongoing debates about crypto mixers' legality and use. Storm's co-developer, Alexey Pertsev, was recently convicted in the Netherlands, impacting privacy-focused crypto services globally.

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• Jul 15, 5:02 AM Cointelegraph

  Lazarus group moves millions from DMM Bitcoin hack

  Hackers linked to the Lazarus group have laundered over $35 million from the $305 million DMM Bitcoin hack through a Cambodian marketplace. The funds were mixed, bridged to other chains, and converted to USDT before transfer. Tether blacklisted a wallet address, blocking $28.2 million. This hack is part of a trend targeting centralized exchanges, with over $1.4 billion in crypto stolen in 2024 so far.

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