Do Democrats Really Hate Crypto? ($)
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- 💳 Visa Launching Tokenized Asset Platform for Banks. Visa’s platform will allow banks to issue fiat-backed tokens powered by smart contracts.
- 🟦 PayPal Brings Crypto Custody Support to U.S. Business Accounts. The move marks another major expansion into crypto for the fintech giant.
- 👩⚖️ Caroline Ellison Sentenced 2 Years in Prison for Role in FTX Collapse. The Alameda CEO's cooperation earned her a much lighter sentence than SBF.
📸 Daily Market Snapshot: Despite some relief for Ethereum prices in recent weeks, investors are continuing to bid up competitive alt-L1s during an extended period of weak ETH narrative strength. SEI is up 54% week-over-week, while other big gainers include SUI, APTOS, and NEAR – all up roughly 30% on the week.
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.23T | ↘ 1.1% | ↗ 7.2% |
|
BTC $63,392 | ↘ 1.7% | ↗ 5.1% |
|
ETH $2,574 | ↘ 3.6% | ↗ 10.2% |
|
SEI $0.455 | ↗ 7.1% | ↗ 53.7% |
Ethereum's smart contract dominance has been challenged like never before this cycle. The increased concern that Ethereum is losing users to alt L1s like Solana has led some in the community to advocate for a shift in prioritizing technical improvements to the L1 execution layer over increased rollup data availability bandwidth.
This shift would have major ramifications for the network. It would also have interesting impacts on the revenues of various ETH infrastructure protocols. Today, we're digging into how an ETH priority shift could lead to big wins for liquid staking platform Lido and holders of LDO.
Dig into the opportunity 👇
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In our latest episode, we had the privilege of speaking with Representative Ro Khanna, a Congressman from California and a prominent voice advocating for the crypto industry within the Democratic Party.
As the political landscape around crypto regulation continues to evolve, Rep. Khanna has emerged as a key figure brokering meetings between the White House, the Harris campaign, and major crypto players in an effort to carve out a path for crypto in the Democratic Party’s platform.
Hear all of the analysis! 👇