⌛ Is Time on Ripple’s Side?

In today's edition: 🚀 Aave's GHO launch, ⚡ Lightning strikes at Binance, 🔜 Celo's next big move, and more!

July 17, 2023

What’s Poppin’?

by Samyuktha Sriram

Ripple CEO Brad Garlinghouse believes that an appeal filed by the regulator would only further solidify the judge’s decision on XRP.

DeFi users can now mint GHO using the assets they supply on Aave V3 on Ethereum as collateral.

cLabs, the entity behind the Celo blockchain, called for a governance call on July 21 to determine whether the network should transition to an Ethereum Layer 2 chain.

Binance users will now be able to deposit or withdraw Bitcoin on the Layer  2 scaling solution.

On the Pod…

Show highlights:

  • why Judge Analisa Torres ruled that retail sales of XRP do not violate U.S. securities laws

  • whether the SEC will appeal the case and how that process could unfold

  • whether Coinbase will cite the Ripple judgment in its lawsuit against the SEC

  • why, even though this is a win for Ripple, it shouldn’t be used for investment strategy

  • whether the SEC’s case is “stronger than people on Twitter might like to believe”

  • how, if proven, the allegations against Celsius founder Alex Mashinsky are “straight-up fraud”

  • why Stephen says that a lot of the enforcement activity focused on DeFi was an “absolute misuse of resources”

Daily Bits…✍️✍️✍️

  • 💰 Coinbase to suspend staking services in four U.S. states due to regulatory concerns.

  • 🏡 Former FTX CEO Sam Bankman-Fried seeks pre-approval for a confidential list of visitors during his house arrest.

  • 👥 Binance, facing regulatory challenges, has reportedly laid off over 1,000 employees globally.

  • ⏰ The U.S. SEC initiated a review of five Bitcoin ETF applications including Wise Origin, WisdomTree, VanEck, Invesco Galaxy, and ARK 21Shares, with the formal timeline starting upon publication in the federal register.

  • 💼 Despite engaging with potential investors recently, Ethereum developer ConsenSys said it isn't formally fundraising and instead has been purchasing its own "significantly undervalued" shares on the secondary market.

  • 📉 FTX and Celsius Network's bankruptcy claims can now be traded on the Open Exchange (OPNX), offering immediate liquidity to users.

  • 🔄 Techteryx, the owner of stablecoin TrueUSD, assumed full control of its operations, enhancing its market presence.

  • 📊 Grayscale's GBTC daily volumes reached a yearly high, driven by increased spot ETF filings and a decrease in the discount to net asset value.

  • 🌍 BlackRock CEO Larry Fink asserted that crypto will transcend any single currency, highlighting its potential as an international asset.

  • 🎁 DeFi lender MarginFi boosts growth through a loyalty points system, sparking discussions about a potential Solana resurgence.

  • 🕹️ The number of transactions on the Sui blockchain hit an all-time high of 29 million, driven by a blockchain game called Sui 8192.

Bringing institutional-grade financial products on-chain, starting with the tokenization of US Treasuries and money market funds.

What Do You Meme?

Learn 🤓

NFTs can either be halal or haram depending on a range of factors laid out by the Fiqh (understanding of Shariah).

📈 Your Market Update 📉

  • BTC is down .6%, trading at $30,129

  • ETH is down 1.2%, trading at $1,907

  • BTC dominance: 46.89%

  • Crypto market cap: $1.25 trillion

*All data as of today, 7:00 am ET

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