Why is Trump Pro-Crypto? ($)
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 🐘 Trump Discloses His Crypto Holdings. Trump has banked millions off of his NFT collections, but he also holds other assets.
- 🛑 MakerDAO Halts New WBTC-Backed Loans. Concerns around new BitGo deal prompt MakerDAO contributors to take action.
- ⛽️ ETH Gas Fees Hit 5-Year Low. ETH gas fees are bottoming out; could this signal a coming boon in activity?
📸 Daily Market Snapshot: It was the S&P 500's best week of 2024 as markets fully walked back the early August sell-off. The redemption run hasn't come for crypto yet; BTC continues to flirt with $60K but remains down on the week. Meanwhile, memecoins have been hit hard this week, with WIF down 22%, BRETT down 15%, and PEPE down 13%.
| Prices as of 3pm ET | 24hr | 7d |
|
Crypto $2.08T | ↗2.2% | ↘1.4% |
|
BTC $59,478 | ↗2.8% | ↘1.4% |
|
ETH $2,618 | ↗2.6% | ↗1.3% |
|
FTM $0.374 | ↗1.4% | ↗11.9% |
How in the world did Trump pivot to being pro-crypto?
David Bailey is the CEO and co-founder of Bitcoin Media, which you might also know as Bitcoin Magazine. He has just finished throwing the Bitcoin 2024 Conference. He’s been in Bitcoin since its inception and he’s now at the forefront of the world of politics where Bitcoin has been meaningfully intersecting with the Trump Administration.
We talk mostly about Trump and his crypto policies. We then contrast it with Kamala Harris and the Democrats. And we finish with why David is so damn bullish on Bitcoin.
Hear all of the analysis👇
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Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.
🧑🌾 Farming Alpha: Abundant LRT speculation is providing impressive yields for LPs on Pendle’s weETHs market, and the Protocol’s PTs continue to offer market-leading fixed returns. Fraxlend, Curve, and Hop remain on our list of attractive opportunities for depositors, meanwhile, providing PYUSD-USDC liquidity through Kamino makes its debut as the desirable alternative for farmers seeking out disaster-proof strategies that earn healthy yields.
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