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• Jul 17, 10:30 PM Cryptoslate

  Putin warns of crypto mining power shortages and urges CBDC expansion

  Russian President Putin cautioned about potential power shortages due to crypto mining, particularly in regions like Irkutsk, Buryatia, and Trans-Baikal Territory. He revealed that crypto mining consumes 1.5% of Russia's total electricity. Putin called for federal mining legislation and wider implementation of the digital rouble CBDC. The CBDC pilot has seen 27,000 transfers and 7,000 payments, with potential domestic use starting in 2025. Lawmakers are set to discuss draft legislation on crypto mining regulations.

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• Jul 17, 9:15 PM Crypto Briefing

  A16z founders endorse Trump citing his support for Bitcoin and AI

  Marc Andreessen and Ben Horowitz of a16z have endorsed Donald Trump for his pro-tech policies, particularly in crypto and AI. They criticize Biden's approach to regulation and taxation, arguing it hinders innovation. The endorsement marks a shift for Andreessen, who previously supported Democrats. The founders stress the importance of technological advancement for US economic and military dominance, praising Trump's stance on winning the AI race against China and his support for the crypto sector.

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• Jul 17, 8:32 PM DeFi Llama News

  Former Ethereum researcher Virgil Griffith nears release after North Korea visit sentence

  Virgil Griffith, ex-Ethereum Foundation researcher, is set for early release from a 63-month prison term for aiding North Korea in evading US sanctions. Griffith's 2019 Pyongyang conference speech allegedly shared info on bypassing sanctions, leading to his arrest. His lawyers argue the presentation only contained publicly available information. North Korea-linked Lazarus group has stolen an estimated $3.4 billion in crypto since 2007. Griffith's case highlights ongoing tensions between crypto innovation and international sanctions.

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• Jul 17, 5:00 PM Coindesk

  Starkware tests op_cat possibilities on bitcoin's signet network

  StarkWare demonstrated potential OP_CAT capabilities on Bitcoin's Signet testing environment. The project showcased zero-knowledge proofs on Bitcoin, hinting at Ethereum-like smart contract functionality. OP_CAT, a proposed Bitcoin upgrade, aims to enhance programmability but still requires consensus for adoption. StarkWare supports OP_CAT for its potential benefits to the Bitcoin and broader blockchain ecosystem.

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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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