Headlines
Biden announces he will withdraw from the 2024 presidential race
Biden issued a statement formally announcing that he would withdraw from the 2024 presidential race and would give a speech to explain the situation later this week.
Trump: Harris is easier to beat than Biden
Trump told CNN that he thought Harris was easier to beat than Biden in the November election. A CNN reporter said Trump made the comments to the outlet shortly after Biden announced his withdrawal from the race.
President of The ETF Store: US-listed spot Bitcoin ETFs hold more than 900,000 Bitcoins
Nate Geraci, president of The ETF Store, posted on the X platform that currently, the spot Bitcoin ETF listed in the United States holds more than 900,000 Bitcoins, accounting for 4.3% of the total supply of Bitcoin. The assets are about 60 billion US dollars. Since its launch in January, the net inflow of funds has been 17 billion US dollars.
US election
Biden endorses Vice President Harris as 2024 Democratic presidential candidate
US President Biden supports Vice President Harris as the 2024 Democratic presidential candidate.
Elon Musk: Real power fears Trump because hes not a puppet
Elon Musk commented on Bidens withdrawal from the 2024 presidential election, I heard last week that Biden will resign at this exact time and date, which is well known in Washington. The real powers that be are discarding the old puppets for puppets more likely to fool the public. They are afraid of Trump because he is not a puppet.
In response to the controversial remarks made by Messari founder Ryan Selkis on social media recently, Mask Network founder Suji Yan posted on X: “This is stupid. We will stop all potential transactions with Messari and stop participating in all their activities. We will also advise our partners and portfolio companies to think twice before working with them.”
U.S. President Biden posted on the X platform that “I was stuck at home due to the coronavirus, so I had the misfortune to watch Donald Trump’s speech at the Republican National Committee (RNC).”
Biden then criticized and refuted Trumps speech point by point, and finally said that Trump wants to be a dictator and called on the people to join the Protect Democracy, Resist Trump and Vance campaign.
Industry News
According to public financial data from the White House, US Vice President Kamala Harris and her husband both have large investments, and neither of them holds any digital assets. She has never made strong statements in support of or against digital currency, tokenization, blockchain, or NFT.
“While we expect these ETFs to receive steady capital allocations, they will not have a large initial impact and will fluctuate based on various macroeconomic factors,” Binance CEO Richard Teng said in a recent interview.
Gemini and IRA Financial Trust settle $36 million breach lawsuit
Gemini has settled a $36 million breach-related lawsuit with retirement and pension platform IRA Financial Trust.
In a July 18 filing in the U.S. District Court for the Southern District of New York, Judge Analisa Torres dismissed with prejudice a lawsuit brought by IRA Financial Trust after the company and Gemini Trust said they had reached a settlement, though the statement did not include details about the settlement.
MicroStrategy co-founder Michael Saylor shared data on X showing that since MicroStrategy adopted the Bitcoin strategy on August 10, 2020, BTC has risen 460%, while the SP 500 index has risen 64%, the Nasdaq index has risen 62%, gold has risen 21%, silver has risen 8%, and bonds have fallen 19%.
Benjamin Cowen, crypto trader and founder of Into the Cryptoverse, said that if ETHs supply continues to grow by 60,000 per month as it has since April, then by December its supply will return to the level it was at the time of the merger two years ago.
Ethereum began to turn deflationary after the merger, with supply decreasing by approximately 455,000 by April 2024. However, since then, its supply has increased again by approximately 150,000.
Ripple CEO: Expects to Resolve SEC Litigation “Soon”
Ripple CEO Brad Garlinghouse expects the company to resolve its years-long lawsuit with the U.S. Securities and Exchange Commission “soon.” XRP’s price has risen in recent weeks on speculation that a settlement could be announced next week following a closed-door meeting of the U.S. Securities and Exchange Commission (SEC).
Market Forecast
QCP Capital: Bitcoin will fluctuate between $61,000 and $71,000 in the short term
QCP Capital released an analysis report pointing out that Bitcoin will fluctuate between $61,000 and $71,000 in the short term. In particular, dealers hold a large number of options with a strike price of $67,000 on July 26. The market is clearly betting on a breakthrough before the US election. Even though the spot price fell overnight, QCP Capital still saw a large number of institutions interested in the $100,000 call option in December. This shows that as Trumps chances of winning the election increase, the confidence in a rebound at the end of the year is stronger.
CryptoQuant CEO: Bitcoin CME futures contract net position returns to the level of 10 months ago
CryptoQuant CEO Ki Young Ju posted on X that the net position of Bitcoin CME futures contracts has returned to the level of 10 months ago.
Project News
The MakerDAO team-associated address sold 28,700 MKR in 4 months, and only 2,228 MKRs are left
According to the on-chain data analyst Ember, the MakerDAO team-related address sold 28,743 MKR (about 85.81 million USD) in 4 months. Currently, there are only 2,228 MKR (about 6.23 million USD) left.
It is reported that the address started selling MKR on March 18 this year, and has transferred a total of 28,743 MKR to Wintermute OTC addresses and trading platforms in four months, with an average transfer price of US$2,985. The MKR of this address came from multiple wallet addresses marked as belonging to Maker, including Maker: MultiSig, from 2020 to 2023, and received a total of 30,971 MKR.
The address is marked as belonging to MakerDAO in Nansen and to UDHC in Arkham, an investment institution founded by Steven Becker, the former COO of MakerDAO.
Terra posted on the X platform that the bankruptcy court order in TFL’s Chapter 11 case authorizes TFL to do the following:
1. Reopen the Shuttle Bridge to redeem the sealed assets on Terra Classic;
2. Cancel the delegation and destroy the 150 million LUNA obtained from the Terra community funding.
Pursuant to the court order, TFL intends to transfer all assets held in the Shuttle Bridge wallet to a new, more secure wallet and provide a new, simplified Shuttle Bridge interface that will allow users to redeem wrapped assets from the bridge wallet within 30 days after TFL’s Chapter 11 plan takes effect, after which TFL will permanently shut down the Shuttle Bridge and destroy all remaining assets.
Ryan Selkis Resigns as Messari CEO
After posting a series of angry tweets against Trump opponents, Ryan Selkis announced his resignation as CEO of crypto analytics company Messari, and Chief Revenue Officer Eric Turner took over. However, as a senior advisor to Messari, Ryan Selkis will still focus on developing long-term strategies for Messari. It is reported that Messaris valuation reached US$300 million after the last round of financing in 2022.
Characters Voices
Vitalik Buterin responded to a netizen’s question on X, “What is a universal blockchain?” He said: “Blockchain is a ‘truth machine’. In a specific sense, it provides a consensus approximation of the truth about when a message was sent, but it will not tell you whether the moon landing was true.
This significantly reduces the attack surface of the blockchain, but it does mean that we need other tools to actually perform (or assist with) the latter kind of truth discovery.”
According to the president of the ETF Store, the approval of the spot Ethereum ETF means that Ethereum is considered a commodity, not a security. Five Ethereum spot ETFs will be launched on the Chicago Board Options Exchange (Cboe) on July 23, which is expected to boost investor interest and prices.
