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  • 8/8/24: Trump Junior's Crypto Surprise 🎁🇺🇸💰

8/8/24: Trump Junior's Crypto Surprise 🎁🇺🇸💰

Top News

  1. Donald Trump Jr. and Eric Trump tease ‘HUGE’ DeFi announcement

  2. Kamala Harris’ odds tie with Trump’s on Polymarket

  3. FTX and Alameda ordered to pay $12.7B by U.S. judge

Specs’ Breakdown

1. Donald Trump Jr. and Eric Trump tease ‘HUGE’ DeFi announcement

⌐◪-◪ → Trump’s older sons Donald Trump Jr. and Eric are up to something “HUGE” in the crypto world.

Their announcement interestingly comes after whoever was behind $DJT, the “official” Trump token, rugged for $2M — which as we all know is speculated to be the youngest son, Barron Trump.

It almost feels like brothers are in competition with one another to either make their mark in the world of crypto/politics or perhaps more cynically to simply milk the family name/brand for all its worth.

As for what the older brothers are up to, the only clue we have is a series of trademark applications filed by a group called AMG Software Solutions for the terms "World Liberty", "World Liberty Financial", and "Be DeFiant" — which matches DJT Jr’s mysterious tweet.

Anyway, I guess we’ll just have to wait for the continuation of the Trump sons’ crypto saga. For everyone’s sake, I hope it’s not another memecoin rug.

2. Kamala Harris’ odds tie with Trump’s on Polymarket

⌐◪-◪ → Donald Trump and Kamala Harris are officially neck and neck in the 2024 Presidential Race according to Polymarket bettors who’ve put $550M on the line.

Coincidentally, the Democrats just announced the "Crypto For Harris” campaign, led by a pro-Kamala advocacy group, to rally support from crypto voters.

While I’m grateful to see some progress on making crypto non-partisan, I’m still a bit skeptical of Kamala’s (alleged) commitment to crypto.

I know she needs to stay focused on her campaign, but I think she should actually do something for the industry now (while she’s in power) as a sign of good faith.

More importantly, I’m excited to see what sort of policies she puts forward — billionaire investor Mark Cuban is optimistic, and he’s been plugged into crypto for a while now.

3. FTX and Alameda ordered to pay $12.7B by U.S. judge

⌐◪-◪ → FTX and Alameda just settled with the CFTC for $12.7B.

More specifically, they agreed to return $8.7B to investors conned by Sam Bankman-Fraud (whoops, I mean Fried) and must pay an additional $4B on top.

Creditors have until August 16th, next Friday, to decide if they want their payouts in crypto, which has pumped 150% since FTX’s fall.

RIP to anybody who sold their FTX claims for cents on the dollar.

Everything Else

⛓️ Crypto & DeFi

  • Michael Saylor announces he owns $1B in Bitcoin personally

  • Nomad Bridge hacker wallet transfers $35M ETH to Tornado Cash

  • WazirX to undo all trades following $230M withdrawal freeze

  • Binance to list Toncoin today with four trading pairs

  • BTC addresses holding over 0.1 BTC near all-time high amid price dip

  • Arbitrum Orbit blockchains to use USDC as gas token

  • Fedi launches a Bitcoin operating system for communities

  • Ethereum validators are largely complying with Tornado sanctions

  • EigenLayer founder shares vision for humanity's ‘coordination engine’

  • Jump likely shuttered development arm, not trading arm

  • Ethena expands access to USDe with Solana integration

🏦 Wallstreet & VC

  • Grayscale launches new crypto investment trusts for SUI and TAO

  • Robinhood Crypto Q2 revenue surges 161% on rising trading volume

  • Meltem Demirors seeks to raise $75 million for two new venture funds

  • Andrena raises $18M to offer decentralized internet services

  • Binance Labs invests in Solana restaking protocol Solayer

🏛️ Legal & Regulatory

  • Ripple fined $125M by SEC for unregistered XRP sales

  • FCA has issued over 1K warnings to crypto firms since October

  • Democrats launch "Crypto for Harris" to rival Trump’s crypto appeal

  • Fairshake to spend $25M on over a dozen congressional candidates

  • Fairshake claims another win against Elizabeth Warren's goons

🌎 Rest of the World

  • Japan's regulator says crypto-ETF need 'cautious consideration'

  • Metaplanet arranges loan to purchase $6.8M more BTC

  • Solana ETF approved by Brazilian SEC

  • Brazilian police stop drug cartel’s crypto laundering scheme

  • IMF explores bitcoin risk management strategies with El Salvador

🖼️ NFTs & Metaverse

  • NFTs get the last word at Ashmolean’s ‘Money Talks’ at Oxford

  • Immutable shuts down NFT marketplace amid market downturn

  • Spaceport is bringing Com2uS’ IP to Roblox and Fortnite

  • DeGods flip Mutant Ape Yacht Club NFTs ~$4k floor