Tech Coalition Pushes for Crypto Regulation, Former FTX Execs Await Sentencing, and ETF Updates!

GM anon ☕🐺

In today’s Alpha Bytes👇

Tech coalition urges Biden to back crypto regulation ahead of US Presidential Election. Former FTX execs Nishad Singh and Gary Wang will face sentencing later this year. In the latest round of filings, Invesco Galaxy sets spot Ethereum ETF fee at 0.25%. And Bitcoin bounces above $59k as fears on Germany's sales fade.

BTC $59, 048 (+2.60%), ETH $3, 108 (+0.88%), SOL $144.20 (+1.12%)

Crypto News 📰 

• Bloomberg analyst calls July 18 ‘best guess’ for ETH ETF launch amidst S-1 amendments

• US spot Bitcoin ETFs record $216M in net inflows, continuing positive flow streak. 

• TeraWulf announces plans to scale Bitcoin mining, AI operations

• Singapore's largest bank DBS sees digital exchange business boom

• Janet Yellen says Treasury not responsible for ‘quarterbacking’ between SEC, CFTC over crypto rules

• Bitwise CCO says Ethereum ETFs ‘close to finish line’, SEC open to other funds

• Former Valkyrie CEO Leah Wald steps up at crypto investment firm Cypherpunk Holdings

• PayPal’s stablecoin surpasses $500M market cap following Solana expansion

• BlackRock’s tokenized fund surpasses $500M in market value

• YieldMax launches ‘FIAT’ ETF to short crypto exchange Coinbase

• TON Blockchain will release new Layer-2 based on Polygon’s Technology

• Stellar Network brings DeFi to the unbanked with smart contract platform

• Telegram-Linked TON will connect to Ethereum ecosystem via Layer-2 Network

• Senator Marsha Blackburn now accepting Bitcoin donations, following Trump

• Rome Protocol secures $9M to bring Solana capabilities to Ethereum Layer-2

• Cardano’s Node 9.0.0 paves way for transformative Chang hard fork

• US Armed Services ramp up exploration of blockchain for military use

• MEV has spread to Bitcoin, in subtler forms than on Ethereum

• SBI Digital Markets appoints former Bank of Korea official to expand in South Korea

• Australia’s largest stock exchange approved its second spot BTC ETF

• Tezos Foundation teams up with Baanx for non-custodial crypto card

• Crypto payment startup Kulipa partners with Mastercard and Argent on debit card

Airdrops🪂 

• Farming Berachain and aiming for an airdrop - @0xelonmoney

Project Updates 🔥 

• PHPC (The stable coin of the Philippines) is LIVE on Ronin - @Ronin_Network 

• @Treasure_DAO proposal to deploy Magicswap v2

• @CbVentures invests in @AmpleforthOrg's @SPOTprotocol

• @FantomFdn awarded $2.2M for Multichain losses

• @Xai_Games updated on their unlock schedule

• @Blast_L2 Phase 2 GOLD distributions live

• @ParallelFi closing deposits today

• @Covalent_HQ announces token migration

• @Paraswap introduces ParaSwap Delta

• Pirate Nation adding more chains 

• Introducing the Fuel Points Program

• Rage trade launching $RAGE on Hyperliquid in August

• Introducing HappyChain

• Coinhall now supports Solana

• Wormhole introduces native USDT transfers for 7 networks

Threads 🧵 

• Ethereum's reach + Move's security = Blockchain's next big leap: @movementlabsxyz - @YashasEdu

• Token listing strategy playbook - @ahboyash

• Airdrops have been a huge part of this cycle so far - @alpha_pls

Launches 🚀 

• SuperBoring dApp

• Spot Protocol 

• Fuel Network Points Program 

• OEV Network 

• Term Labs Points Program 

Fundraise 💰

• Hybrid Layer 2 project BOB raises $1.6M from Ledger Ventures and angel investors

• On-chain credit and yield platform Idle raises $2.4M in total strategic funding

• @idOS_network (Blockchain Service) - $4.5M led by @fabric_vc

• @Satoshi_BTCFi (DeFi) - $2M Seed led by @cmsholdings @RockTreeCapital

• @SPOTprotocol (Currency) - $1M Strategic investment from @cbventures

Calendar 🗓️

• 8 July : $ETHFI - $150M Unlock

• 8 July : $ENS - Rebrand news

• 8 July : $EOS - Revamped Staking Rewards

• 9 July : $XAI - $85M Unlock

• 11 July : U.S. - CPI

• 11 July : Bithumb - Delisting Decision $ALEX

• 11 July : $OP - Fjord update

• 12 July : U.S. - PPI

Videos 🎥

• @thedailygwei - Puffer UniFi, Zooming out and more - The Daily Gwei Refuel #792 - Ethereum Updates

• @MilkRoadDaily - Is Restaking The Next Trillion-Dollar Crypto Industry? w/ Karak

Analysis 📊

• BTC is likely to continue its downward trend

• Bitcoin could shock us

That's a wrap for today!

Join our smol research channel to share crypto insights and help us empower the crypto community👇