Want to know what’s happening in crypto today? Here’s the latest on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3, and crypto regulation.

The Enterprise Ethereum Alliance released a document aimed at mitigating risks associated with DeFi protocols. CryptoQuant CEO Ki Young Ju said that fears of a sell-off related to Mt. Gox remain “overrated.” Meanwhile, a16z co-founders Marc Andreessen and Ben Horowitz have reportedly thrown their weight behind presidential candidate Donald Trump.

New Risk Assessment Guidelines for DeFi Protocols Released

The Enterprise Ethereum Alliance (EEA) has released Version 1 of the Decentralized Finance (DeFi) Risk Assessment Guide, a document designed to identify and mitigate risks in DeFi protocols.

The EEA’s DRAMA working group developed the guidelines in collaboration with organizations including Consensys, Hacken, CertiK, Quantstamp, OpenZeppelin, Banco Santander, Bitwave, and others.

The document provides resources for DeFi protocol regulators, developers, investors, and users to identify risks and provide management strategies.

Dyma Budorin, co-chair of the EEA DRAMA and CEO of Hacken, explained that the guide provides comprehensive standards “that resource founders and development teams can rely on when developing their products”.

The DeFi risk assessment guide covers a range of risks related to governance, token economics, software, liquidity, regulatory compliance, and external market factors.

“The working group recommends that the guidance be maintained and that updates be published regularly as needed,” explained Chaals Nevile, technical project director at the EEA, in an interview with Cointelegraph.

“This is not only in response to new threats and technological changes, but also to the reality that the standards and regulatory landscape is constantly evolving.”

The July 16 attack on the Li.Fi protocol is an example of the need for risk assessment in DeFi and the preventive measures that can be taken in the space.

Bitcoin Whales Prepare to Accumulate Further as Mt. Gox Panic Is ‘Overestimated’

CryptoQuant CEO Ki Young Ju said the impact of the Mt. Gox repayment on Bitcoin has been overestimated and whales may use this impact to buy more BTC at a discount.

In a July 16 post to X, Ki said the impact of Mt. Gox’s Bitcoin sales — $3 billion to $9 billion worth of Bitcoin — was negligible compared to the total growth in Bitcoin’s market capitalization over the past 18 months.

“Even if Mt. Gox’s $3 billion was sold on Kraken, it would only be 1% of the market value increase achieved in this bull run — liquidity is manageable,” Ju wrote.

Additionally, Ki noted that Bitcoin’s price is most susceptible to speculative “FUD” (fear, uncertainty and doubt) surrounding perceived negative events, and less susceptible to the fundamental selling activity behind them.

Zhu said that despite "panic selling" by many investors, "smart money" will continue to buy more Bitcoin.

a16z co-founder backs Trump after he's nominated for vice president

Marc Andreessen and Ben Horowitz, co-founders of crypto venture capital firm a16z, have reportedly thrown their weight behind Donald Trump.

Reports are emerging that venture capitalists are planning to make large donations to the Republican candidate after Trump selected JD Vance as his running mate. Andreessen and Horowitz are said to be among several venture capitalists and technology executives who have pledged to donate to a pro-Trump American Political Action Committee. So far, the American Political Action Committee has raised nearly $9 million from Silicon Valley insiders.

Vance is “strongly supportive of cryptocurrency,” according to industry advocacy group Stand With Crypto. The Republican senator from Ohio is said to own as much as $250,000 worth of Bitcoin.