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• Aug 9, 12:41 PM DeFi Llama News

  Trump and Biden memecoins fade as cute animal tokens surge

  Memecoins based on US election candidates have plummeted, with attention shifting to animal-themed tokens. A Shiba Inu named Neiro inspired multiple tokens, with one reaching a $300 million market value. Political memecoins like MAGA, Boden, and KAMA have significantly declined. Donald Trump Jr. warned of fake tokens claiming association with a rumored Trump family crypto project. The trend highlights the volatile nature of memecoins and the crypto market's quick shifts in focus.

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• Aug 9, 6:50 AM Bloomberg

  Tether plans to double staff by mid-2025, focusing on compliance and finance

  Tether, issuer of the $115 billion USDT stablecoin, aims to double its workforce to 200 by mid-2025. The expansion focuses on compliance and finance departments. CEO Paolo Ardoino emphasizes lean operations and selective hiring of senior staff. Tether's growth comes amid scrutiny over illicit USDT use. The company has partnered with Chainalysis for transaction monitoring and has invested $2 billion in crypto startups over the past two years.

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• Aug 9, 4:29 AM Cointelegraph

  Donald Trump Jr. plans to launch crypto platform to challenge banks

  Donald Trump Jr announced plans for a decentralized finance crypto platform aimed at addressing banking access inequality. The platform, still in early stages, isn't a memecoin but aims to challenge traditional banking systems. Trump Jr emphasized the appeal of DeFi for those who've been debanked. He warned against fake tokens claiming association with Trump projects, stating official announcements will come directly from them. The news follows recent crypto-related tweets from both Donald Jr and Eric Trump, sparking speculation in the crypto community.

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• Aug 8, 5:13 AM Coindesk

  Trump and Harris tied on Polymarket polls, MAGA and Tremp meme coins drop 40%

  Trump's odds for winning the 2024 election dropped 13 percentage points in the last month on Polymarket, now tied with Harris. This aligns with recent polling showing a statistical tie. Trump-themed crypto tokens have declined more sharply, with MAGA down 38% and Tremp down 40%. The shift follows Biden's withdrawal and Harris' entry as the Democratic candidate.

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• Aug 8, 3:55 AM Bloomberg

  Robinhood CEO responds to SEC on crypto scrutiny

  Robinhood submitted a response to the SEC's Wells notice regarding its crypto business, said CEO Vlad Tenev in a recent interview with Bloomberg with no additional updates. The firm has diversified its offerings beyond trading, expanding into retirement products and credit cards. Robinhood's technology performed well during recent market volatility, with customers primarily buying during the dip. The company reported strong Q2 earnings, beating analyst expectations with $682 million in net revenue.

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• Aug 7, 12:29 PM Protos

  Craig Wright misses deadline to appeal UK ruling in Bitcoin case

  Craig Wright failed to file an appeal against a UK court verdict by the August 5 deadline. The UK's Judicial Office confirmed no appeal was submitted, contradicting claims made on Wright's social media accounts. This marks Wright's third unsuccessful appeal attempt in crypto-related cases. The courts also referred Wright to the Crown Prosecution Service for potential perjury and are uncertain of his current location. Wright's legal obligations and injunctions from the July 16 ruling remain in effect.

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• Aug 7, 10:21 AM Cryptoslate

  Bitcoin outperforms ethereum as historical data suggests widening gap in second half

  Bitcoin maintains its position as a top-performing asset with a 63% CAGR and 30% growth in 2024. Ethereum lags behind, rising only 8% year-to-date. The ETH/BTC ratio has dropped 17% this year to 0.043. Historical data indicates Bitcoin's performance typically improves in H2, while Ethereum's declines, suggesting the gap between the two cryptos may widen further. Solana has surged 40% YTD, outpacing both Bitcoin and Ethereum in 2024.

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• Aug 6, 2:15 PM DeFi Llama News

  Arthur Hayes predicts Bitcoin price surge amid global monetary shifts

  Arthur Hayes, crypto industry veteran, expects Bitcoin to reach up to $1 million in the current cycle due to global monetary changes and debt rollover needs. He views the crypto industry as maintaining its innovative spirit despite increasing involvement from traditional finance giants. Hayes downplays the importance of US election outcomes and SEC leadership on crypto's trajectory, emphasizing that monetary policies will continue to drive crypto prices upward regardless of who's in power. He remains skeptical about the likelihood of a US Bitcoin reserve but supports the concept theoretically.

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• Aug 6, 1:15 PM The Block

  Kamala Harris selects Minnesota Gov Tim Walz as running mate

  VP Kamala Harris chose Minnesota Governor Tim Walz as her running mate, potentially boosting her Midwest appeal. Walz, who hasn't openly discussed crypto, oversaw legislation regulating crypto kiosks in Minnesota. Harris' team has been reaching out to the crypto industry, and her campaign recently added David Plouffe, who has ties to Binance and Alchemy Pay. The GOP has expressed support for crypto firms in its 2024 platform.

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• Aug 6, 12:44 PM Crypto Briefing

  Bitcoin rebounds to $55,000 as ETF investors hold strong

  Bitcoin surged 8.5% to $55,000 after a sharp correction. Spot BTC ETFs showed resilience with zero outflows from BlackRock's IBIT on August 5. Major altcoins like Solana saw even larger gains. The $49,000 support held, but Bitcoin could retest this level if macroeconomic conditions worsen. A potential upside target is between $59,400 and $62,550 due to a CME gap. ETF trading volume exceeded $5 billion, the highest since mid-April, with minimal outflows, surprising analysts who expected larger withdrawals.

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• Aug 6, 4:42 AM The Block

  SEC asks court to deny Coinbase subpoena for crypto asset documents

  The SEC urged a New York court to reject Coinbase's subpoena request for documents related to crypto assets. The agency claims Coinbase's demands are overly broad and irrelevant. Coinbase, facing a lawsuit for operating as an unregistered securities exchange, argues that most cryptos are digital commodities, not securities. The dispute highlights ongoing regulatory challenges in the crypto industry.

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• Aug 5, 6:07 PM The Block

  Polymarket users bet $1.4 million on federal interest rate cut by September 2024

  Polymarket's decentralized prediction platform saw a $1.44 million bet on the Federal Reserve cutting interest rates by September 2024. Users estimate a 58% chance of a 50+ basis point cut and a 40% chance of a 25 basis point cut. This prediction aligns with regulated futures markets, which show an 83.5% probability of a 50 basis point cut. Polymarket's trading volume hit an all-time high of $387.01 million in July, with US political events driving cumulative volume above $1 billion in August.

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• Aug 5, 3:00 PM Cryptoslate

  Aave protocol generates $6 million revenue overnight amid market volatility

  DeFi platform Aave earned $6 million in revenue during recent market turbulence. The protocol saw $233 million in liquidations, its highest single-day figure. Aave's founder emphasized the platform's resilience, securing $21 billion worth of value across 14 active markets. The platform remains the largest crypto-lending protocol with $9.8 billion in total value locked. This performance reflects DeFi's strength, with key protocols functioning smoothly despite market volatility.

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• Aug 5, 1:45 PM Blockworks

  21Shares exec discusses US crypto ETF adoption and future outlook

  21Shares' US head Federico Brokate believes Washington's shifting attitudes could accelerate approval of solana ETFs. He expects US spot Bitcoin ETFs to reach $30 billion in inflows by year-end, with Ethereum ETFs potentially hitting $5-10 billion over 12 months. Brokate sees a future for multi-crypto ETFs and anticipates staking options for US Ethereum ETFs. He remains bullish on crypto's political support, regardless of the 2024 election outcome.

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• Aug 5, 7:28 AM DeFi Llama News

  Justin Sun refutes liquidation rumors amid crypto market downturn

  Justin Sun denied rumors of his positions being liquidated as crypto prices fell. Bitcoin dropped 13% to $52,864, while Ethereum fell 20% to $2,324. The total crypto market value decreased by 17% to $1.8 trillion. Sun stated his preference for industry-supporting activities over leveraged trading. The market decline coincides with recession fears and disappointing tech earnings. Investors sold off risky assets following weaker job reports and the Fed's decision to hold interest rates.

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