🏴 Bitcoin Wrapped in Drama

gm Bankless Nation, despite good macro vibes, crypto saw another summer sell-off on Thursday; what's spooking investors?

Bitcoin Wrapped in Drama Published on Aug 15, 2024 View in Browser gm Bankless Nation, Despite good macro vibes, crypto saw another summer sell-off on Thursday. What's spooking investors? Today's Issue ⬇️ ☀️ Need to Know: Crypto4Harris? Dems make case for Harris. 🔒 Market Vibes: Crypto Declines Crypto falls, TradFi climbs / ZK rating. 🧪 Analysis: Wrapped in Drama WBTC has Crypto Twitter in a tizzy. 🔒 Take Action: What We're Doing Crypto market opps we're watching. Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies. Visit mantle.xyz to Learn More .  .  . NEED TO KNOW Dems Make Case for Harris 📢 Schumer Calls for Regulatory Action at Crypto4Harris Town Hall. Senate Majority Leader Chuck Schumer was among the loudest Democrats calling for clearer regulatory action for crypto. 🇮🇳 Binance Relaunches in India After Paying Fine. Binance resumes operations after paying a $2.25M fine to India's FIU. 📈 SEC Approves Leveraged MicroStrategy ETF. MSTX seeks to deliver 175% of MSTR’s daily returns to investors by utilizing leverage. .  .  . MARKET VIBES Crypto Declines 📸 Daily Market Snapshot: Crypto markets ignored macro bullishness Thursday, selling off over 4% while macro indices posted gains. With Harris now up 10 points in Polymarket's election odds, Trump and his pro-crypto promises have firmly moved toward underdog territory. Prices as of 5pm ET 24hr 7d Crypto $2.00T ↘4.2% ↘4.3% BTC $57,040 ↘3.5% ↘4.3% ETH $2,546 ↘4.9% ↘1.2% ZK $0.105 ↘5.9% ↘7.4% 0️⃣ New Token Rating: The price of ZKsync's native token has been halved just two months post-airdrop. Does depressed ZK price present an obvious buying opportunity? See Our ZK Rating .  .  . ANALYSIS Bitcoin Gets Wrapped in Drama Bankless Author: Jack Inabinet Wrapped Bitcoin (WBTC) is simply a token on the Ethereum blockchain that is pegged to BTC. But there's nothing straightforward about the controversy that's been ignited this week as impending changes to the custody and minting model of WBTC have thrown the DeFi world into a ruckus. Let's unpack the drama that involves $9B in assets, Justin Sun, and Coinbase 👇 Read the Full Analysis FRIEND & SPONSOR: MANTLE Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release. Visit mantle.xyz to Learn More .  .  . TAKE ACTION What We're Doing Each week, Citizens get a curated list of market opportunities that the Bankless team is watching. As a free subscriber, you're missing out! 👇 Upgrade to Unlock .  .  . GO BANKLESS Don't Miss Another Airdrop! Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again? Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you. Upgrade Your Account Manage your account Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time to time, we may add links in this newsletter to products we use. We may receive a commission if you make a purchase through one of these links. Additionally, the Bankless team holds crypto assets. See our Investment Disclosures | Terms & Conditions | Privacy Policy Bankless © 2024 – Unsubscribe