DeFi
🇬🇧 Trump formalizes crypto pivot of his Republican political platform
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Donald Trump and the Republican Party reaffirm their commitment to supporting the cryptocurrency industry. Trump’s newly released policy platform includes a commitment to supporting innovation in the Web3 sector.
BlackRock’s BUIDL tokenized treasury fund has surpassed $500 million in assets under management less than four months after its launch. The value of on-chain treasury assets is $1.81 trillion after surging 133% since the start of 2024.
Cryptocurrency markets continue to rally after collapsing over the weekend due to outflows from Mt. Gox. Digital assets were boosted by Bitcoin spot ETFs that recorded their largest daily inflow in five weeks.
Additionally, Zircuit suffers heavy outflows as phase two rewards begin, Raydium surpasses Uniswap in weekly fees, and Paxful co-founder pleads guilty to DoJ charges.
✍️ In today’s newsletter:
- Republican Party Makes Trump’s Crypto Shift Official
- BUIDL Crosses $500 Million Asset Mark
- Markets Rebound on Surging Bitcoin ETF Flows
- Investors Brace for Mt. Gox Creditor Distributions
- Zircuit’s TVL drops by $400 million due to capital outflows
- Raydium Eclipses Uniswap in Fees and Transactions
- Paxful co-founder faces up to five years in prison
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📈 Markets in the last 24 hours:
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Discover our podcast with Noah SeidmanA technologist and analystto get his opinion on the crypto-asset markets. Catch up with our interview with Chris Bradbury, the CEO of Summer.fito learn more about the new features of the project points campaign. Also, check out our explanatory dive into passive income strategies using DeFi protocols 👀
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✊Trump reiterates commitment to cryptocurrencies in RNC-backed policy document
Donald Trump agrees to promote innovation in the crypto industry and support the US Bitcoin mining sector in his July 8 message political platform document. The document received approval from the Republican National Convention.
👀Blackrock’s BUIDL fund, which represents tokenized Treasuries, surpasses $500 million
The value of assets managed by BlackRock’s Tokenized Treasury FundBUIDL, a exceeded $500 million less than four months after its debut. Treasures in Chain has climbed 133% this year, with the sector posting growth of more than $1.81 billion market capitalization.
📈Cryptocurrency markets rebound as Bitcoin spot ETFs see highest inflows since June 6
Digital assets benefit modest gains as markets continue to recover from the the sharp drop over the weekendCryptocurrencies have been boosted by the highest daily influx spot Bitcoin ETF In five weekswith nearly $295 million entered the sector on July 8.
😱Cryptocurrency markets in turmoil as Mt. Gox multi-billion dollar payouts begin
Cryptocurrency Investors Get Ready for the possibility of billions of Bitcoin entering the markets Mount Gox begins manufacturing advance payments to creditors. The company seems to have already paid a nine-figure value in BTC on Bitbank and SBI VC Trade exchanges, with approximately 4 billion dollars should follow this month.
SPONSORED ARTICLE
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The OEV Network is a major upgrade to the Oracle API3 stack and is designed to address the pervasive Maximum Extractable Value (MEV) problem on lending protocols, which has historically led to millions of dollars in lost value each year. By providing lending protocols with a solution to recover this value, the OEV Network not only improves the financial viability of these protocols, but will likely disrupt existing business models in this competitive sector of the blockchain.
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⬇️Zircuit Loses Half a Billion Dollars in TVL as Second Phase of Rewards Program Kicks Off
Zirconia hopes to consolidate its TVL with the second phase of his points campaign. The next layer 2 attracted a $3.5 billion peak in TVL at the beginning of May despite the fact that it is pre-main networkbut a recent one wave of releases drove his TVL from $2.5 billion to $2.1 billion over the past week.
🚀️Solana DEX Raydium topples Uniswap in weekly fees
Raydiumthe leading decentralized exchange on Solana, has overtaken Uniswap by fees amid surge in trading volume. Raydium hosted 57 million transactions over the past week compared to $4.47 million from Uniswapwhich gives Raydium a 15% lead in terms of fee revenue. However, Uniswap still leads in terms of total volume with $12 billion, beating Raydium’s $5.39 billion.
🚨Paxful Co-Founder Pleads Guilty to Money Laundering
Artur Schaback, the co-founder and former technical director of Paxful, pleaded guilty failing to establish an effective relationship fight against money laundering program for peer-to-peer cryptocurrency exchange. Schaback’s sentencing is scheduled for November, with the former executive facing up to five years in prison.
🌍 SOMEWHERE ELSE
- PayPal’s stablecoin surpasses $500 million market cap following Solana expansion (The block)
- Singapore court rules in favor of Fantom Foundation in lawsuit against Multichain (VSryptoSlate)
- Sam Altman’s Layer-2 Blockchain Project World Chain Opens to Developers (CoinDesk)
- Lido Governance Authorizes $200,000 to Hire Law Firm to Dismiss Class Action (unleashed)