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⌐◪-◪ → Drift, Solana’s largest perpetual trading platform just launched a prediction market called BET, a direct competitor to Polymarket.

BET is short for “Bullish on Everything” and offers some improvements on Polymarket such as earning yield on positions and supporting 30+ collateral types.

Without taking sides in the Solana vs. Ethereum tribal wars, I think multiple prediction markets are a good thing. Aside from driving healthy competition, it means more arbitrage opportunities between markets — which means more accurate predictions.

I will add, given Solana’s reputation as crypto’s #1 casino, BET might have a real chance at competing with Polymarket in terms of volumes. With that said, Polymarket is the incumbent brand in the space and won’t go down easy.

💬 Do you think BET will overtake Polymarket?

⌐◪-◪ → Tether, the #1 largest stablecoin in the world, just minted an additional $1B USDT on the Tron network — bringing USDT’s total market cap to $117B.

For context: Tether minted $33B USDT in the past year, $19B of which was minted on the Tron and the other $14B on Ethereum.

It’s starting to feel like Tron season is here. Aside from the fact that Justin Sun has infinite money, Tron is:

• the most used $USDT network, over $60B settled

• is now a top 10 crypto with a market cap of $13.15B

• boasts over 1.9M daily active users

Tron might be controversial (thanks to Justin Sun), but it’s starting to feel like it can’t be ignored.

💬 What are your thoughts on Tron and Justin Sun?

⌐◪-◪ → The Democratic National Committee Chair, Jamie R. Harrison, met with Bitcoin miner Marathon Digital earlier this month.

The meeting covered several topics, including ways to mitigate the environmental impact of Bitcoin mining, what issues matter to crypto voters, and high-level policies that would make sense for the DNC platform.

While the party is certainly reaching out to the crypto industry, including this meeting with Marathon and more, their 2024 platform did not reference crypto or blockchain once.

This is an upgrade from having anti-crypto rhetoric (i.e. crackdowns, chokepoints, bans, etc) it’s still pretty far from pro-crypto policies in the Republican party platform.

While I have no doubt crypto will be (and should be) a non-partisan issue, I do wonder if that will happen this election cycle or next.

💬 What crypto policies do you think Kamala will endorse?

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