The Block
Quick Take Former President and current Republican candidate Donald Trump will momentarily take the stage to address the Bitcoin 2024 conference in Nashville. The former President, who had previously expressed anti-crypto views, has expressed growing support for the digital asset industry in recent weeks. His choice of Senator JD Vance as his VP candidate is also seen as a crypto-friendly move.
Global financial services group Cantor Fitzgerald has announced plans to launch a Bitcoin financing business with an initial $2 billion of lending in Bitcoin, and more $2 billion increments to follow, to offer leverage to Bitcoin owners.The CEO of Cantor Fitzgerald said “Bitcoin should trade the same as gold everywhere in the world without exception and without limitation.”
Quick Take North Carolina’s Democratic Representative Wiley Nickel said he wrote a letter co-signed by 28 Democratic electeds, including 14 House members, calling for the DNC to include pro-digital asset language in the party’s platform at the Bitcoin 2024 conference. Nickel’s remarks received light applause, but he was booed heavily when he said Donald Trump did “nothing on this issue” during his prior term and is “totally full of s—t”.
Quick Take Stocks linked to Chinese markets experienced significant declines after Beijing held off on new stimulus measures. QCP Capital analysts see the downturn as an opportunity for a capital reallocation into the cryptocurrency market.
Following a U.S. bankruptcy judge’s approval of the FTX estate’s reorganization plan, around $2.4 billion of creditor repayments could be deposited back into the crypto market, according to analysts at K33.However, this would likely unfold in multiple waves, meaning the overall impact could be softer, they said.
Quick Take The total trade volume for sports fan cryptocurrencies have broken above $1 billion in the past 24 hours. Over half of the volume came from the Chiliz-based Esports fan token, OG.
Quick Take Linea introduced a proposal detailing steps to transition the zkEVM to a permissionless system. It includes a proof-of-stake model proposed to replace the current Layer 2 finality system. In this system, validators would be required to stake tokens and participate in the QBFT consensus algorithm.
Quick Take American rapper Cardi B’s X account posted a video of a meme token named WAP. Blockchain security firm PeckShield raised concerns about the token’s legitimacy.
Quick Take U.S. presidential candidate Robert F. Kennedy, Jr. made promises on Friday at Bitcoin 2024 to issue three executive orders related to Bitcoin. Kennedy is far behind fellow candidates Vice President Kamala Harris and former President Donald Trump, according to the latest polls.
U.S. spot bitcoin ETFs reported $235.19 million in net inflows on Monday, extending their streak of positive flows to two days.
