Headlines
▌The price for sitting at the same table and taking a photo with Trump during the Bitcoin Conference is $844,600
The Bitcoin Conference is scheduled to be held in Nashville, Tennessee, next week (July 25-27). Trump himself will attend the conference and give a speech on the 27th. The invitation obtained by the media shows that during the conference, supporters can pay $60,000 to get the opportunity to take a photo with Trump at the campaign fundraising event to be held by Trump. If two people take a photo with Trump at the same time, the price is $100,000. If you want to sit at the same round table with Trump and take a photo, the price will soar to $844,600. According to US campaign finance regulations, this is also the upper limit of the amount that an individual or entity can donate within a specific time period. People familiar with the matter revealed that Trump's deputy Vance will also attend the fundraising event as a special guest next week. It is reported that the number of attendees at this event will be controlled at 100-150 people. After the reception, these guests will also get front-row seats at the Bitcoin Conference and watch Trump's conference speech up close.
▌Polymarket: Biden's probability of withdrawing from the election rises to 80%, a record high
The prediction market Polymarket released data on the X platform showing that the probability of Biden withdrawing from the election has risen to 80%, a record high.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $63,955.95, with a daily change of -0.2%;
ETH's latest transaction price is $3426.79, with a daily change of +1.1%;
BNB's latest transaction price is $571.92, with a daily change of +0.6%;
SOL's latest trading price is $158.96, with a daily change of +2.1%;
DOGE’s latest trading price is $0.1195, with a daily change of -1.9%;
XPR’s most recent trading price is $0.5693, with a daily change of -9.1%.
policy
▌South Korea’s first cryptocurrency law takes full effect
South Korea’s first cryptocurrency regulatory framework is now in full effect, with a focus on ensuring the safety of cryptocurrency investors. The new law, the Virtual Asset User Protection Act, was officially approved on July 18, 2024, and was given a one-year grace period to perfect regulatory details.
The bill imposes stricter requirements on digital asset exchanges, and service providers in South Korea are now legally obliged to store at least 80% of user cryptocurrency deposits in cold wallets separated from their own funds. Exchanges must also entrust users' cash deposits to local licensed banks for safekeeping and maintain cryptocurrency reserves equal to the amount and type of customer deposits. In addition, crypto services in South Korea must now take out sufficient insurance or establish reserve funds to deal with hacker attacks or liquidity crises.
▌Rumor has it that Trump will announce the US’s Bitcoin strategic reserve policy next week
According to Bitcoin Archive on the X platform, there are rumors that Trump will announce the United States’ Bitcoin strategic reserve policy next week.
▌Putin warns that uncontrolled cryptocurrency mining growth may trigger Russia's energy crisis and emphasizes the practicality of the digital ruble
Russian President Vladimir Putin has warned that the uncontrolled growth of Bitcoin mining in Russia could cause energy problems, especially in regions such as Irkutsk, Buryatia and Trans-Baikal Territory where power shortages are frequent. Putin noted that these mining activities consume about 1.5% of the country's total electricity consumption, or up to 16 billion kilowatt-hours per year. He stressed that unrestricted mining expansion could cause regional power systems to reach their limits, affecting the development of businesses, residences and public service systems.
Amid the chaos surrounding Bitcoin mining, Putin also seized the opportunity to promote the Russian digital ruble, or central bank digital currency (CBDC), saying that it had completed 7,000 payments for goods and services and more than 27,000 transfers during the testing phase, emphasizing its performance and practicality. The digital ruble is part of Russia's plan to modernize the economy and reduce its dependence on Western financial institutions.
Blockchain Applications
▌Italian CDP issues €25 million digital bond on Polygon
Italy’s Cassa Depositie PrestitiSpa (CDP) has issued a €25 million digital bond on the Polygon public blockchain, underwritten by Intesa Sanpaolo as sole investor. The issuance was part of the European Central Bank’s (ECB) trial for wholesale DLT settlements. Payments were therefore made in central bank money using the Bank of Italy’s TIPS Hash Link solution, which provides a connection between DLT and TARGET2 systems for wholesale payments. CDP is a development bank majority-owned by the Ministry of Economy and Finance.
Fabio Massoli, Director of Administration, Finance, Controlling and Sustainability at CDP, said: “This transaction represents an important step forward in innovation in the capital markets by CDP, through the pioneering use of blockchain technology in bond issuance.”
Cryptocurrency
▌Analyst: Bitcoin's next target is $74,000
Bitcoin analyst Trader Tardigrade said, "Bitcoin's next target: $74,000. BTC formed a tight bull flag on the daily chart, and the measuring target of the flagpole is $74,000. Or set a new record high at present."
▌Informed sources: Crypto market maker Wintermute is in financing negotiations
Digital asset market maker Wintermute is discussing a round of financing, according to investors familiar with the matter. The company is discussing the sale of $100 million in shares, some of which will go to existing shareholders. Wintermute will also issue new shares, but the exact amount has not yet been determined. The people familiar with the matter added that the negotiations are still ongoing and the details have not yet been finalized.
▌Musk responded to the $45 million monthly donation to Trump: So far, the monthly funding is far below that level
Musk said he did create a political action committee (PAC) focused on supporting U.S. presidential candidates, but did not promise any donations to anyone. So far, monthly funding is "well below" $45 million.
Grayscale Spot Ethereum Mini ETF Fees Reduced to 0.15%
Grayscale Spot Ethereum Mini ETF fees dropped to 0.15% (from 0.25% yesterday).
▌Messari CEO Ryan Selkis was asked to calm down by company leaders due to extreme remarks
Messari founder and CEO Ryan Selkis posted a number of fiery tweets on social media, including saying that people who oppose Trump "can die" and suggesting that the civil war has begun, which has attracted widespread attention. His remarks caused concern among his colleagues at the company, and Messari's leaders asked him to calm down.
Selkis’ fiery rhetoric included reactions to the attempted assassination of Trump as well as anti-immigrant and anti-left rhetoric. He also called Senator Elizabeth Warren “public enemy number one” of cryptocurrency and suggested that she bears a physical resemblance to Trump’s attempted assassin. Additionally, he threatened Securities and Exchange Commission Chairman Gary Gensler with impending jail time.
Although Selkis acknowledged on Twitter that he was "too excited this week" and said he would address the issue comprehensively soon, he did not significantly tone down the intensity of his rhetoric. In his tweet, Selkis emphasized self-defense and serious concern about the current political situation.
Such extreme comments raise widespread questions about his behavior as the CEO of a major cryptocurrency data platform, especially in the context of Messari receiving significant venture capital backing.
▌Informed sources: If Biden continues to run, the funds he receives in July may drop to half of that in June
According to the New York Times, four people familiar with the president's campaign finances revealed that if Biden continues to run, financial support from major donors in July may drop to half of what it was in June.
Important economic developments
▌The probability of the Federal Reserve keeping interest rates unchanged in August is 96.4%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in August is 96.4%, and the probability of a 25 basis point rate cut is 3.6%. The probability of the Fed keeping interest rates unchanged in September is 2.9%, the probability of a cumulative 25 basis point rate cut is 93.6%, and the probability of a cumulative 50 basis point rate cut is 3.5%.
▌Fed's Daly: Recent inflation data is good, but the target has not yet been achieved
Fed’s Daly said that the recent U.S. inflation data is good, but has not yet reached the target; the labor market is returning to balance; there are dual risks in monetary policy choices; the Fed still relies on data to formulate monetary policy; there is a risk of making mistakes in premature action or emergency policy actions; prices have not yet stabilized.
Daly said she would not predict a recession in the United States, but she also could not say "the job is done."
Golden Encyclopedia
▌What is an infinite coin minting attack?
An infinite minting attack is when an attacker manipulates the contract code to continuously mint new tokens beyond the authorized supply limit. This hack is most common in decentralized finance (DeFi) protocols. This attack compromises the integrity and value of a cryptocurrency or token by creating an unlimited number of tokens.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
