Crypto industry could experience "Ripple effect," top expert says
In his recent article for Bloomberg, prominent legal reporter Chris Dolmetsch wrote that the Ripple case "bodes well" for the broader crypto industry. As a reminder, according to the final judgment issued earlier this month, Ripple has to pay $125 million in penalties to the SEC. The ruling was proclaimed a victory for the fintech giant, as this sum is a mere fraction of the fine initially requested by the regulator - $2 billion. Dolmetsch noted that the case "is not quite over yet," as the SEC could still appeal the court's decision. However, the outcome might already be affecting how cryptocurrency lawsuits are handled in the future. According to Bloomberg Intelligence analyst Elliott Stein, Coinbase (NASDAQ:COIN) could potentially benefit from the recent court decision in its own legal fight with the SEC. Last June, the agency accused the exchange of operating as an unregistered broker and clearing agency.

Shiba Inu launches on-ramp feature with Visa (NYSE:V) and Mastercard (NYSE:MA)
According to a recent announcement by the Shibarium Network X handle, BONE and Circle’s USDC have become available for purchasing with fiat currencies via Visa and Mastercard on Shibarium. This became possible as a result of the enabling of on-ramp features with Visa and Mastercard for BONE by Shiba Inu developers. With the recent integration, Shiba Inu aims to bridge the gap between traditional finance and digital assets. Thanks to the integration with Visa and Mastercard, Shibarium can hope for an increase in growth and adoption, making the BONE token more accessible to a wider audience. Launching on-ramp services for the USDC stablecoin on Shibarium will also make it easy for newcomers to enter the Shiba Inu ecosystem.

Goldman Sachs reveals massive Bitcoin ETF holdings
As stated in a recent 13F filing to the SEC, Goldman Sachs is currently holding $419 million in Bitcoin exchange-traded funds (ETFs). The majority of the aforementioned amount, $239 million, is accounted for by BlackRock (NYSE:BLK)'s iShares Bitcoin Trust (IBIT). Goldman Sachs also holds the shares of such products as Fidelity Wise Origin Bitcoin, Grayscale Bitcoin Trust and so on. As previously reported by U.Today, Goldman joined American bank Citigroup and Swiss financial bank UBS on the list of authorized participants for BlackRock's Bitcoin ETFs. However, Goldman Sachs is not yet onboard with cryptocurrencies. Earlier this year, the Wall Street Journal reported that the major financial institution had not warmed up to crypto. Sharmin Mossavar-Rahmani, CIO of Goldman Sachs, is still quite dubious about cryptocurrencies and will not accept them as an investment class

Investors should steer clear of trades favoring Kamala Harris as the upcoming presidential election is “Trump’s to lose,” according to strategists at Alpine Macro.
In a Thursday report, strategists note that Harris's entry into the presidential race has energized the Democratic base, reinvigorating supporters disillusioned by Biden’s candidacy. Although she has yet to be officially nominated at the Democratic National Convention in Chicago, Harris has effectively secured the nomination with the backing of most Democratic delegates.
However, the strategists caution that Harris’s surge in the polls "may be nearing its high watermark."
“While the race is certainly competitive, Trump’s campaign is arguably more resilient than it looks,” they added.
Alpine highlights that Trump's support, particularly in swing states, remains robust, suggesting a "structural improvement in his support level" compared to previous elections.
The report outlines several other reasons why this race is Trump’s to lose.
Primarily, strategists emphasize that Harris’s appeal appears limited to the Democratic base, with little evidence of traction among centrist voters, who are crucial in swing states. While the current Vice President has successfully consolidated left-wing support, Alpine Macro warns that this could come at the expense of broader appeal, particularly among moderates and undecided voters.
Furthermore, the strategists note that the Trump campaign has strategically refrained from launching aggressive attacks against Harris, potentially waiting for the Democratic platform to be fully defined before intensifying their campaign.
“As we previously wrote, Harris is a vulnerable candidate despite recent positive media coverage,” strategists noted.
“She is effectively running on Biden's record, which remains unpopular. Democrats, and Harris as VP, also have a credibility issue, being seen by voters as having covered up for Biden’s mental deterioration.”
More importantly, Alpine Macro points out that Harris is positioned to the left of Biden on policy matters, which may attract criticism for being outside the U.S. political mainstream. They note that her tenure as a Senator and Attorney General could come under scrutiny.
Also, Harris is not known for being a compelling speaker, strategists argue, though she might defy expectations in this area. Her debate performance against Trump, tentatively scheduled for September 10, could be pivotal.
Ultimately, Alpine Macro maintains that the fundamentals still favor Trump, and they caution against making trades based on Harris’s current polling strength.
While the race is considered close, strategists believe that Trump still has an edge, adding that Harris’s recent rise in the polls “is somewhat of a “sugar rush”.”