Get Thrifty, Porvorim (2026)

22/06/2024

Crypto asset management firm Hashdex has put forward a proposal for a spot exchange-traded fund (ETF) that would directly hold both Bitcoin and Ethereum. New York-based stock exchange Nasdaq disclosed the proposal on June 18 via a Form 19b-4 filing, which describes the firms’ intent to establish the Hashdex Nasdaq Crypto Index US ETF. The filing does not clarify the ratio of the holdings. This is the first proposal for an ETF that aims to give investors combined exposure to both of the largest cryptocurrencies. The final deadline for SEC approval is set for March 2025.

Bloomberg ETF analyst James Seyffart commented on the announcement: “A dual Ethereum and Bitcoin ETF filing from just dropped. Will be market cap weighted. Shouldn’t be a surprise to anyone — makes a lot of sense.”

22/06/2024

Circle CEO Jeremy Allaire said he has “never been more optimistic than right now” about the future of crypto in his 11 years leading the firm behind the USDC stablecoin. In a detailed social media post, Allaire outlined his reasons for this positive outlook, emphasizing the potential of crypto and the progress made over the past decade.

Allaire highlighted the historical progression of open networks, protocols, and software, each layer enhancing the internet’s utility. He views the current state of crypto as a new layer of internet infrastructure, one that adds a crucial trust component previously missing.

The Circle CEO further pointed to the growing acceptance of digital assets in the global financial system, with clear regulatory frameworks emerging worldwide. Allaire said: “Bitcoin has become one of the largest and most important alternative investment assets on the planet.” He added that major asset management firms — including the world’s largest BlackRock — now offer blockchain-based products and services, including direct regulated exposure to Bitcoin via spot and futures exchange-traded products worldwide.

Allaire reflected on the rapid advancements in the past decade and the early stages of crypto adoption. He posed a series of forward-looking questions about the future of digital assets, smart contracts, and blockchain networks, suggesting that these innovations could reshape finance, commerce, and governance globally. According to Allaire, digital assets are on a “rapid pace” to become integral parts of societal and economic structures. He said: “All of this is achievable over the next 10+ years.”

22/06/2024

The SEC has closed its investigation into Ethereum 2.0, determining that sales of ETH are not securities transactions. “Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0. This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.”

Ethereum rose over 4% overnight following the news, pulling the rest of the crypto market with it as many projects positive over the past 24 hours. This development is a significant victory for Ethereum developers and the broader industry. The closure of the investigation signifies a pivotal moment for the Ethereum community, providing a reprieve from potential regulatory actions that could have categorized ETH as a security. The SEC’s decision aligns with the Commodity Futures Trading Commission’s (CFTC) stance, which has consistently classified ETH as a commodity.

20/06/2024

Over the weekend, the US Congressman Ro Khanna, representing California’s 17th congressional district, is set to host a Bitcoin and blockchain roundtable in Washington, D.C., in early July. Khanna’s office reportedly described the upcoming meeting as “the most significant meeting between policymakers and innovation leaders in blockchain to date.” The meeting to feature officials from the Biden Administration, House, and Senate, alongside American businessman Mark Cuban. The primary objective of this meeting is to strategize on how to “keep Bitcoin and blockchain innovation in the United States.” This initiative is seen as a response to former President Donald Trump’s recent endorsements of the Bitcoin industry.

Trump declared, “The choice is clear. President Trump will protect your right to own Bitcoin, to mine Bitcoin, to transact with Bitcoin”. This shift is particularly noteworthy given Trump’s previous stance against Bitcoin during his presidency, where he allegedly wanted to “go after Bitcoin for fraud.”

Congressman Khanna’s upcoming roundtable could signify a pivotal moment for the US crypto industry. The roundtable aims to create a collaborative environment to foster growth and innovation by bringing together policymakers and industry leaders. It would also mean both Democrats and Republicans expected nominees had held Bitcoin mining roundtables and may pave the way for a more supportive regulatory landscape in the United States.

20/06/2024

The infamous maximal extractible value (MEV) sandwich bot known as “arsc” has pocketed around $30 million from Solana users in the last two months through MEV attacks. An MEV sandwich attack occurs when an attacker “sandwiches” a victim’s transaction between their own two transactions in order to manipulate the price and profit from the user. They profit by buying the victim’s token at a price cheaper than market value and then sell it in the same block.

Ben Coverston, founder of cryptocurrency firm MRGN Research, said in a June 15 post on X that this particular sandwich bot, arsc, has “gone to great lengths” to avoid attention while raking in profits from Solana network users. One of the bot’s largest wallet addresses is “9973h…zyWp6,” which Coverston believes is primarily being used for cold storage. “It is quite inactive and, judging by its behavior, is almost certainly a locked-down, cold wallet,” Coverston said. According to Solana explorer site SolanaFM, the wallet holds a little over $19 million in total funds, which includes $17 million worth of Solana’s SOL tokens and $1.1 million in Circle’s USD Coin stablecoin. It also holds small amounts of wrapped-SOL (wSOL), Cringe Coin (CRINGE) and Kabosu (KAB).

20/06/2024

Former Binance CEO Changpeng Zhao reportedly owns 64% of Binance Coin's circulating supply, or roughly 94 million BNB tokens, a Forbes report revealed. 80 million BNB tokens were allocated to the Binance founding team and the company still controls 46 million of those original tokens. The report also noted that CZ jointly holds 71% of the 147 million BNB in circulation. CZ's 90% equity stake in Binance and the value of his crypto holdings have catapulted him to become the 24th richest individual on the planet, with an estimated $61 billion net worth.

17/06/2024

When analyzing the DeFi market, Solana is almost exclusively compared to Ethereum. Both are Layer 1 networks, and Solana is often perceived as an alternative to Ethereum, which yields an interesting market perspective. However, comparing Solana to Base makes more sense as the two blockchains are similar in the type of activities and user engagement they foster. Both Solana and Base cater to a rapidly growing user base with a strong emphasis on dApps.

The critical distinction lies in the nature of the network activity — both prioritize user experience and transaction efficiency, leading to a thriving ecosystem of DeFi and NFT activities that are more reflective of each other than Ethereum’s broader and more established infrastructure. Despite some Base metrics being lower than Solana’s, the data points to a rapid and explosive growth trajectory for Base. For instance, Base’s daily active users have increased from 437,214 on June 7 to 642,630 on June 9. This rise shows a clear surge in user engagement and growing interest in the platform.

The metrics for Base reveal an accelerated growth rate, which is remarkable for a newer platform. This explosive growth is particularly evident in the sharp increase in new users and transactions within a short period, indicating a rapidly expanding ecosystem.

17/06/2024

In his keynote at BTC Prague, MicroStrategy CEO Michael Saylor articulated a vision of Bitcoin as the world’s first perfect money, a profound innovation with the potential to reshape economic and political systems globally. Saylor’s presentation was more like a sermon than a keynote, was focused on reaffirming and encouraging the audience to believe in Bitcoin, not god, not himself, not his company, a cultural personality, nor anything other than the self-sovereignty and “perfection” of Bitcoin.

Michael Saylor’s 21 Rules of Bitcoin are:
Those who understand Bitcoin buy Bitcoin. Those who don’t criticize Bitcoin.
Everyone is against Bitcoin before they are for it.
You know you grasp Bitcoin when you know you’ll never fully understand Bitcoin. You’ll never be done learning about Bitcoin.
Bitcoin is powered by chaos.
Bitcoin is the only game in the casino where we can all win.
Bitcoin won’t protect you if you don’t wear the armor.
Bitcoin is the one thing in the universe that you can truly own.
Everyone gets Bitcoin at the price they deserve.
Only buy Bitcoin with the money you can’t afford to lose.
Tickets to escape the matrix are priced in Bitcoin.
Bitcoin insight is restricted to those who need to know.
All your models will be destroyed.
The cure for the economic ill is the orange pill.
Be for Bitcoin, not against fiat.
Bitcoin is for everybody.
Learn to think in Bitcoin.
You don’t change Bitcoin; it changes you.
Laser eyes protect you from endless lies.
Respect Bitcoin, or it will make a clown out of you.
Do not sell your Bitcoin.
Spread Bitcoin with love.

17/06/2024

Australian rapper Iggy Azalea has made waves in the digital assets community by launching her Solana-based MOTHER token, a meme coin that has seen a meteoric rise in value. Azalea’s active promotion of the token on her social media platforms, leveraging her 8 million followers on X, has significantly fueled interest and hype around the project. Further, she has commented on her battle with “mainstream media” around her music, making an embattled cry that she won’t be stopped and won’t give up unless MOTHER goes to “zero.”

Azalea’s involvement in the crypto space has also led to a spat with Vitalik Buterin who initially criticized celebrity tokens like MOTHER for their lack of purpose and financialization as an end goal. In response, Azalea posted a photoshopped image of herself breastfeeding an infant Buterin, captioned, “He was just hangry,” sparking further debate and criticism from the crypto community.

The feud escalated, with Azalea accusing Buterin of pocketing gas fees and questioning his stance on various issues. Azalea categorized Ethereum fees as “gas tax” and used air quotes when referring to “gas fees.” Her argument seemed to be based on the concept that Buertin is somehow the recipient of gas fees as opposed to the reality that base gas fees have been burnt since EIP-1559 was introduced in 2021. The priority fee, or tip used to incentivize validators to prioritize transactions, is rewarded to stakers. Azalea has been a vocal supporter of Solana’s low gas fees and commended the approach of the Solana Foundation.

16/06/2024

Andrew Tate has recently burned 400 million DADDY meme coins, reducing supply. This move was described by Tate during a livestream as “legendary”.

His recent actions in burning significant amounts of $DADDY cryptocurrency have sent shockwaves through the financial world by reducing token supply.

The token liquidity in the markets is $2.5 million. In a post via X, Tate said that he envisions DADDY reaching a market cap of $1 billion.

16/06/2024

Bernstein has doubled down on its optimistic Bitcoin price projections, raising its long-term forecast to $1 million by 2033, driven by unprecedented demand and constrained supply.

Bernstein analysts also revised their predictions for the current cycle and now project the flagship crypto to hit $200,000 by the end of 2025, up from its earlier estimate of $150,000. The firm also predicted Bitcoin will climb to $500,000 by 2029.

Bernstein attributed the growth expectations to the increasing demand for Bitcoin via multiple avenues, particularly the newly launched ETFs and the trend of corporations adding Bitcoin to their treasuries. The firm said the rising demand combined with the shrinking supply points to remarkable potential for growth.

16/06/2024

As 2024 U.S. presidential election approaches, President Joe Biden’s campaign team is reportedly in talks with key players in the cryptocurrency industry to potentially accept cryptocurrency donations through Coinbase Commerce.

According to anonymous sources cited by The Block crypto payment service Coinbase Commerce is already being utilized by the campaign of presumptive Republican candidate Donald Trump.

Insiders suggest that the Biden campaign’s discussions with the crypto industry are part of an effort to appeal to crypto-focused voters in what experts believe could be a tightly contested election.

Biden campaign’s increased engagement with the crypto community began shortly after Trump made headlines for adopting a pro-crypto stance. Since then, sources indicate that the campaign has intensified its efforts to craft a crypto-friendly message.

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