Will the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19

2 days ago

CLARITY hinges connected Trump’s ethics

Summer Mersinger, the CEO of the Blockchain Association and a erstwhile commissioner astatine the US Commodity Futures Trading Commission, said: “Ethics is the large elephant successful the room.”

“For my members and what we are advocating for connected the Hill... look, immoderate you determine connected ethics, that’s truly not our concern. That is politics. That’s Congress. That’s elected officials. But delight don’t fto it termination each the hard enactment that we enactment successful the remainder of the bill.”

Source: Polymarket

Prediction markets spot grounds Q2 volume, France blocks Polmarket

Crypto markets continued to flounder successful the 2nd quarter, with the notable objection of prediction markets.

Spot trading measurement crossed the apical 10 centralized exchanges (CEXs) fell from $2.7 trillion successful the archetypal 4th to conscionable $1.95 trillion successful the second, according to CoinGecko’s latest Crypto Industry Report.

CEX perps measurement besides declined 10% to $12.7 trillion, portion the stablecoin marketplace slipped 1.6% to $305.1 billion. In contrast, prediction markets recorded their strongest 4th connected grounds with $113.8 cardinal successful notional volume.

Polymarket’s World Cup victor marketplace alone has attracted much than $3.3 cardinal successful trading volume, portion contracts tied to the 2028 US statesmanlike predetermination fertile among the platform’s largest markets, according to Polymarketscan data.

Meanwhile, France’s National Gambling Authority has conscionable ordered net work providers to block entree to Polymarket arsenic it considers prediction markets to beryllium amerciable gambling.

Polymarket is blocked successful 33 countries... unless you person a VPN of course.

Strategy became a awesome of the dot-com crash: Could past repeat?

Senate agrees SBF should service his clip arsenic FTX distributes different $900M

The US Senate has adopted a solution opposing enforcement clemency for erstwhile FTX CEO Sam Bankman-Fried.

The measurement cannot artifact a statesmanlike pardon but reflects bipartisan Senate opposition.

Bankman-Fried was sentenced to 25 years successful national situation successful March 2024 aft being convicted of fraud and conspiracy charges linked to FTX’s illness successful 2022.

Speculation astir a imaginable statesmanlike pardon grew aft Bankman-Fried applied for clemency from Trump in June 2026.

On Friday, the FTX Recovery Trust said it would administer astir $900 cardinal to creditors successful the 5th circular of repayments. The spot has present paid retired astir $10 cardinal since the institution filed for bankruptcy.

Tokenized stocks deed grounds $2.3B

The planetary marketplace capitalization of tokenized stocks roseate to a grounds $2.3 cardinal connected Wednesday, as much investors sought vulnerability to blockchain-based equity products.

The Ethereum web boasted the largest marketplace share, astatine 34%, followed by BNB Chain with 30% and the Solana web with 23%, information aggregator Token Terminal shared successful a Wednesday X post.

The largest summation came from Kraken exchange’s xStocks, which accounted for $507 cardinal worthy of tokenized stocks and Binance’s bStocks, with $334 million. Ondo Finance remained the largest tokenized banal issuer with $955 cardinal successful onchain equities, according to Token Terminal data.

The Depository Trust & Clearing Corporation, which is the custodian of $114 trillion successful assets, past week launched a proceedings of tokenized securities successful concern with much than 40 fiscal firms.

Robinhood Chain besides aims to go a person successful tokenized stocks, nevertheless its measurement to day is mostly driven by memecoins.

Is Robinhood Chain’s occurrence bullish oregon bearish for ETH the asset?

US and UK to align stablecoin rules, but Genius Act rules are TBA

The US Department of the Treasury and HM Treasury in the UK person issued four associated recommendations connected integer assets.

The task unit recommended that authorities see a private-sector-led radical focused connected “testing of cross-border usage cases for tokenized assets” and that fiscal agencies successful the US and the Bank of England place shared approaches connected the regularisation of tokenized assets.

The connection said that stablecoins “should beryllium afloat backed, connected astatine slightest a one-to-one basis, by high-quality, liquid assets,” aligning with the US law.

Ironically, a fewer days aboriginal it emerged the US regulatory agencies had each missed Saturday’s rulemaking deadline for the GENIUS stablecoin act. Missing the statutory deadline does not invalidate the GENIUS Act, but volition effect successful issuers having little clip to comply earlier the rules spell into effect successful January.

Source: ZachXBT (but DYOR)

Winners and Losers

At the extremity of the week, Bitcoin (BTC) is astatine $64,620, Ether (ETH) astatine $1,868 and XRP (XRP) is astatine $1.09. The full marketplace headdress is astatine $2.21 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the apical 3 altcoin winners of the week are Pump.fun (PUMP) which gained 36%, Venice Token (VVV) connected 10%, and Litecoin (LTC) which is up 7%.

The apical 3 altcoin losers of the week are DeXe (DEXE) aft it mislaid 27%, Lighter (LIT) which was down 17%, and Worldcoin (WRLD) which fell 14%.

Prediction of the Week

Bitcoin gets caller $80K August target

“It’s holding the important level astatine $61,000 and flipping important MAs for support, indicating that there’s much momentum connected the horizon,” helium wrote, referring to moving mean inclination lines.

“I’m expecting to spot a rally to $68,000 successful the adjacent 1-2 weeks, followed by a continuation towards $75,000-80,000 successful August.”

Not everyone agreed with the analysis, including nichoxbt who thinks the terms is heading backmost nether $60,000.

Source: Nichoxbt

Top FUD of the Week

Consensys unknowingly outsourced developer enactment to North Korean

Blockchain institution Consensys accidentally utilized a bundle developer linked to North Korea, who had entree to immoderate of its systems for a month.

First reported connected Friday by Drop Site, Consensys earlier this year took on a bundle developer via a “reputable 3rd enactment work provider” who was aboriginal discovered to person ties to the Democratic People’s Republic of Korea.

The determination caused the Metamask developer to temporarily suspend merchandise releases, but said an probe has “confirmed determination was nary misappropriation of assets oregon data, nary malicious codification deployed, and nary interaction to idiosyncratic information and security.”

Kaspersky identifies malware model targeting crypto investors

Cybersecurity institution Kaspersky said a recently identified malware model is targeting cryptocurrency investors.

Dubbed “OkoBot,” the malware initiates an corruption concatenation that starts with societal engineering tactics specified arsenic ClickFix, which tricks users into moving malicious commands, oregon trojanized GitHub apps that present a backdoor to infected devices, the cybersecurity institution wrote successful a Wednesday report.

A abstracted malware run seeks to infiltrate the devices of Web3 developers via fake LinkedIn recruitment opportunities, according to SlowMist.

Attackers interaction blockchain devs via LinkedIn, posing arsenic recruiters. They past nonstop fake GitHub repositories to victims, claiming they incorporate codification that needs to beryllium assessed earlier the interview, the information institution said successful a Saturday report.

Base’s societal stake near it trailing successful prediction markets and perps: Pollak

Base creator Jesse Pollak says helium is stepping backmost from starring the Base App aft admitting he made a “wrong bet” connected social, leaving the concatenation to autumn down connected prediction markets and perpetual futures.

In a station to X connected Wednesday, Pollak said he had stake that creator, contented and messaging apps would thrust adoption, but alternatively the marketplace “disintegrated completely.”

Pollak said helium present realized fiscal applications are the mode guardant for the network, with a absorption connected trading, payments and AI agents.

The Base App volition present instrumentality to Coinbase, and volition beryllium overseen by crypto influencer and trader Jordan Fish, amended known connected X arsenic “Cobie.”

Strategy became a awesome of the dot-com crash: Could past repeat?

MicroStrategy blew up during the dot-com era, earlier Michael Saylor transformed it into the world’s largest firm Bitcoin holder. Did helium larn his lesson?

Is Robinhood Chain’s occurrence bullish oregon bearish for ETH the asset?

Surging volumes connected Robinhood Chain could beryllium precise bully for Ethereum, but lone if the “ETH is money” assemblage crook retired to beryllium right.

Gambling connected random Pokémon cards: Onchain gagcha hits grounds precocious arsenic crypto sinks

Users spent a grounds $324 cardinal connected onchain gacha successful June, adjacent arsenic Bitcoin deed a 21-month low. The thrill of scoring a apical Pokemon paper from a random battalion is becoming large business.

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