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- 7/4/24: America's New Favorite Asset 🇺🇸🏔️📜
7/4/24: America's New Favorite Asset 🇺🇸🏔️📜
Top News
Specs’ Breakdown
1. Trump sparks talks of Bitcoin as a ‘strategic reserve asset’
⌐◪-◪ → Trump’s pro-crypto campaign has sparked talks of Bitcoin as a strategic reserve asset for the US.
Sen. Lummis agrees saying, “Bitcoin is an incredible store of value, and I see the benefits of diversifying our investments.”
Simple game theory dictates if one nation adopts Bitcoin, others will do the same — meaning this could fast-track global acceptance of Bitcoin as digital gold.
This might sound crazy, but there’s a real possibility that in 10 years the US has the largest Bitcoin reserves in the world. Warren Buffet is not going to be happy.
If you want to feel the full Bitcoin hype, come to Bitcoin Nashville in July — I’ll be there and rumor has it Trump will too.
What do you think, will the US adopt BTC as a national reserve asset? Let me know in Specs.Chat!
2. Mt. Gox moves $24 worth of Bitcoin ahead of July repayments
⌐◪-◪ → Mt. Gox just moved a small amount of Bitcoin from three wallets, totaling $27 ($3, $0.32, $23.63).
These are likely test transactions ahead of $9.4B repayments to 127,000 creditors.
The largest transaction was $24 to Bitbank, one of the exchanges selected to manage Mt. Gox creditor payments.
As a result, Bitcoin dropped below $57k, a two-month low since March highs and more notably a drop below the crucial 200-day moving average.
Imagine being forced to HODL your Bitcoin due to Mt. Gox, but then getting it back 10 years later.
What would you do if you were them? Let me know in Specs.Chat!
3. Vitalik publishes EIP-7732 to make Ethereum faster
⌐◪-◪ → Vitalik just published EIP-7732 to make Ethereum faster.
It’s designed to simplify the work of validators by dividing their responsibilities into roles, separating tasks into consensus and execution phases.
This creates a committee to check if transactions are revealed on time, meaning validators could prioritize consensus and postpone execution as needed.
Scalability is still one of blockchain’s biggest problems.
I’m impressed with how many incremental improvements devs have squeezed out of Ethereum, just when we think we’re at our limits, new discoveries/opportunities are made.
Same phenomenon with Bitcoin blockchain and the recent renaissance bringing NFTs, DeFi, and more.
Blockchain developers are my superheroes.
Everything Else
⛓️ Crypto & DeFi
Bitcoin dips below $58K amid Mt. Gox, German gov wallet moves
Justin Sun offers to buy all Bitcoin from the German Government
Consensys buys Wallet Guard to strengthen MetaMask security
Bitcoin Core unveils new security disclosure policy for critical bugs
Obol Labs forms industry group to push decentralized validator tech
Friend.tech decides to stay on Coinbase L2 network, hits ATL
Symbiotic restaking protocol crosses $1B in deposits in under a month
BorpaToken drops 95.6% after cutting ties with Entangle
🏦 Wallstreet & VC
VanEck says Solana ETF odds improve without Gensler at SEC
Genesis Digital Bitcoin miner, backed by Alameda, considers US IPO
BitMEX launches basket index tracking top 10 memecoins
Computer Labs raises $3M for Solana-based GPU tokenization
DWF Labs launches $20M fund for Web3 projects in China
🏛️ Legal & Regulatory
Coinbase argues Gensler’s email is 'relevant evidence' in SEC lawsuit
Judge rules OHM and Klima are commodities in CFTC 'Ponzi' case
Bitwise updates Ethereum ETF filing as US listings near
🌎 Rest of the World
German government moves $175M in Bitcoin, $75M to exchanges
BIS Basel Committee approves crypto disclosure framework
South Korea unveils real-time monitoring for crypto fraud
Russia to legalize stablecoins for global trade
Philippines adopts USDT for social security payments
🖼️ NFTs & Metaverse
Notcoin and Helica launch Telegram Gaming Accelerator
'Private jet brandization' is one way Polkadot burnt cash
$WELL with accused of insider selling after launch
Pacman addresses concerns over Blast governance
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