6/28/24: Trump's New Fren 🐙🛡️⛓️

Top News

  1. Kraken co-founder Jesse Powell donates $1M to Trump

  2. Coinbase partners with Stripe for USDC support on Base

  3. Vitalik invests in new “real-time blockchain” MegaETH

Specs’ Breakdown

1. Kraken co-founder Jesse Powell donates $1M to Trump

⌐◪-◪ → Kraken co-founder Jesse Powell just donated $1M to Trump, which was mostly in Ethereum.

Jesse announced his donation in a tweet, where he also criticized Elizabeth Warren, Gary Gensler, and others for attacking the crypto industry and hurting the US’ competitiveness. He also dropped a cheeky #freeross at the end. We like that.

Meanwhile, Polymarket has been going wild post-debate:

  • Trump's odds of winning at 65%, Biden 21%

  • Biden’s odds of dropping out doubled to 37%

While I’m glad everybody is finally in agreement that Biden is unfit to serve, I’m embarrassed that it took this long and that we allowed a sitting president to get this unwell. The dude has gotta go ASAP.

You know it's bad when the guy can’t get it together for one of the most important days of his life, even with all of the support/guard rails he had: no drug test, muted mics, easy questions, no audience, CNN.

Whatever happens, I just hope his replacement is more open-minded towards crypto.

2. Coinbase partners with Stripe for USDC support on Base

⌐◪-◪ → Coinbase and Stripe just partnered up to accelerate global crypto adoption. There are 3 main components to their integration:

  1. Stripe adds USDC on Base for crypto payouts

  2. Stripe adds USDC on Base to it’s fiat-to-crypto onramp

  3. Coinbase adds Stripe’s fiat-to-crypto onramp to Coinbase Wallet

This partnership lets users instantly buy crypto with credit cards and Apple Pay, the convenience normies and crypto veterans deserve.

This might not seem like a big deal, but think about the number of times you wanted to buy something on-chain, didn’t have funds in your wallet, but had funds in your bank — this solves that problem.

Apple Pay <> On-Chain purchases has arrived.

3. Vitalik invests in new “real-time blockchain” MegaETH

⌐◪-◪ → Vitalik just invested in MegaETH’s recent $20M round. The new blockchain describes itself as, “the first real-time blockchain”.

Why? Well, because MegaETH is capable of 100,000 transactions per second (TPS) with millisecond-level latency.

The $20M closed at a “9-figure valuation” with investments from notable VCs like Dragonfly, Figment Capital, Robot Ventures, Joe Lubin, Cobie, Hasu, and more. The round is stacked.

If you want to get involved, check out the 0xMegaMafia builder program, which is looking to support founders in building real-time web3 applications.

Somebody is about to make a lot of money building a MegaETH fund.

Everything Else

⛓️ Crypto & DeFi

  • Coinbase not facilitating ASI token migration during AI protocol merger

  • Bitcoin activity drops to lowest level since 2010

  • Coinbase won’t handle token migration during AI protocol merger

  • Crypto hack losses doubled to $572M in Q2, compared to Q2 2023

  • Worldcoin’s World ID expanding to Solana ecosystem

  • Zerion deploys testnet for Layer 2 rollup using ZK Stack

  • Bluefin DEX to launch governance token in July

🏦 Wallstreet & VC

  • Marathon Digital expands to altcoin mining to diversify income

  • T-Rex Group files for 2x long and inverse ETFs on Microstrategy

  • CleanSpark Bitcoin miner buys peer GRIID in all-stock deal of $155M

  • New stacked ETFs proposed opening exposure to Bitcoin and gold

  • Steve Cohen's Point72 Ventures shuts down crypto arm

  • Rebar raises $2.9M to build Bitcoin-based MEV product

  • Nostra CEO steps down 11 days after token airdrop

🏛️ Legal & Regulatory

🌎 Rest of the World

  • Bolivia lifts Bitcoin ban, authorizes crypto transactions via banks

  • EU restrictive stablecoin rules take effect on June 30

  • Nigeria SEC values local crypto industry at $400M

  • Taiwanese singer suspected of involvement in JPEX fraud

🖼️ NFTs & Metaverse

  • Blockasset partners with UFC in marketing partnership

  • Zeta Markets DEX debuts native token ZEX, starts airdrop distribution

  • Notcoin teases 'Fresh Start' relating to TONs project Lost Dogs Co

  • Logan Paul sues Coffeezilla for defamation over CryptoZoo videos

  • Blast price rebounds after Ethereum Layer-2 airdrop

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