S&P 500 down 1%
Nasdaq down 2%
BTC down 3.5%
Nvidia down 6%

German government has sold all of its 50K BTC holdings in the last 23 days, Now labelled address shows zero holdings.

The Week Ahead: July

Macro:
> Powell Speaks on 15
> Fed Beige Book on 17
> TSM and Netflix Earnings on 18

Whole week:
> ETH spot ETFs are expected to be approved for trading
> U.S. Bank Earnings
> China's third plenum (four-day meeting expected to shape the country’s economic strategy for the next five to 10 years)

Unlocks:
> $ARB: ~3%: $70M

*More info/charts in comments 👇

Powell Signals Rate Cut Coming Into View—but Declines to Say When: WSJ

Trump picks Crypto-Friendly 'JD Vance' as VP running mate

JD Vance pro-crypto record: Eleanor Terrett
> Voted to repeal SAB 121
> Slammed the SEC for DebtBox incident
> In 2023, he introduced a bill to improve bank regulation and make sure customers like crypto firms and gun manufacturers are not discriminated against
> In 2022, Vance disclosed $BTC holdings of up to $250K

ETH ETFs EXPECTED to launch for trading on 23rd July: BBG ETF analyst Eric Balchunas

Trump's VP pick 'JD Vance' on Crypto Tokens and SEC chair Gary Gensler

If there's a candidate for the worst person in my view, at least in terms of my substantive disagreement, it's Gary Gensler.

Mt.Gox Moving BTC

> 48.6K to 3JQieE (kraken?)
> 42.6k to 18vjnB (mt gox)

'1WhatTheFuckAreYouDoing77778tgvaK'

Reports via creditors Emails: Kraken: We have successfully received creditor funds (BTC and BCH) from the Mt. Gox Trustee. While we will work to distribute funds as quickly as possible, please anticipate 7-14 days for funds to be credited to your account.

Traders see the odds of a Fed rate cut by September at 100%

Gold hits new ATH at $2,450/oz

U.S. RECEIVED INTEL OF IRANIAN PLOT TO ASSASSINATE TRUMP: CNN

> NO KNOWN CONNECTIONS TO SATURDAY'S RALLY SHOOTING

> IRAN'S UN MISSION: ACCUSATION OF PLOT AGAINST TRUMP IS 'UNSUBSTANTIATED & MALICIOUS' — TRUMP IS 'IS A CRIMINAL WHO MUST BE PROSECUTED & PUNISHED IN A COURT OF LAW' FOR ORDERING KILLING OF IRANIAN GENERAL

> POLICE REPORTEDLY SHOT A SUSPECT NEAR THE SECURE ZONE OF THE REPUBLICAN NATIONAL CONVENTION IN MILWAUKEE

Donald Trump Bloomberg Interview summary:

> will allow Jerome Powell to serve out his term as chair of the Federal Reserve (until May 2026).

> will lower the corporate tax rate to 20% & will try to get it down to 15%.

> considering Jamie Dimon (JPMorgan CEO) for Treasury Secretary.

> FED should abstain from cutting rates before the November election and giving the economy, and Biden, a boost.

> no longer plans to ban TikTok.

> Trump on Big Tech: “They have become too big, too powerful,”—“They’re having a huge negative impact on, especially, young people.”—“If you don’t have TikTok, you have Facebook/Instagram —and that’s, you know, that’s Zuckerberg.”

> Trump on inflation: will bring down prices by opening up the US to more oil and gas drilling. “We have more liquid gold than anybody."

> Tariffs on imports: 60% to 100% on china and 10% across-the-board from other countries.

> Trump on Taiwan: Taiwan took U.S. chip business, wants Taiwan to pay the U.S. for protection & sees practical difficulty of defending a small island on the other side of the globe.

> Trump on Saudi Arabia: They’re always going to need protection.. they’re not naturally protected.”—“I’ll always protect them."

> Trump on Crypto: "If we don’t do it, China is going to figure it out, and China’s going to have it—or somebody else.”

Grayscale launches new fund for decentralized AI: TheBlock

Projects included in the fund's basket are:
Near (NEAR), 32.99%
Filecoin (FIL), 30.59%
Render (RNDR), 24.86%
Livepeer (LPT), 8.64%
Bittensor (TAO), 2.92%

State Street is exploring creating its own stablecoin and also considering creating its own deposit token, which would represent customer deposits on a blockchain.

BTC down 0.5%
S&P 500 down 1.5%
Nasdaq down 3%
Microsoft down 2.5%
Apple down 3.5%
Nvidia down 7.5%

Vitalik Buterin warns that being crypto friendly now doesn't guarantee being crypto friendly in the future, and recommends examining politicians' past views on related topics.

Article: Against choosing your political allegiances based on who is "pro-crypto"

> by publicly giving the impression that you support "pro-crypto" candidates just because they are "pro-crypto", you are helping to create an incentive gradient where politicians come to understand that all they need to get your support is to support "crypto".

> If a politician is pro-crypto, the key question to ask is: are they in it for the right reasons?

All Spot ETH ETFs Fees:

> Blackrock: 0.25% [0.12% for the first $2.5B/12 months]
> Grayscale: 2.5%
> Franklin: 0.19% [ZERO fee for the first $10B/31st Jan 2025]
> Vaneck: 0.20% [ZERO fee for the first $1.5B/12 months]
> Bitwise: 0.20% [ZERO fee for the first $500M/6 months]
> Fidelity: 0.25% [ZERO fee in 2024]
> 21shares: 0.21% [ZERO fee for the first $500M/6 months]
> Invesco Galaxy: 0.25%
> Grayscale ETH Mini Trust: 0.25% [0.12% for the 1st $2B/12 months]

Updated:
> Grayscale ETH Mini Trust: 0.15% [0% for the 1st $2B/6 months]

Earlier Today: Biden said he would drop out of 2024 race if diagnosed with medical condition.

Just Now: Biden tests positive for COVID.

Bitcoin just had one of its least volatile three months in history.

⚠️ Confirmed Breach: Indian Crypto exchange WazirX hacked for $235M: Cyvers

Hacker: 0x04b21735E93Fa3f8df70e2Da89e6922616891a88
Hacker holds:
SHIB: $99M
ETH: $52M
MATIC: $11M
FLOKI: $4.8M
FTM: $3M

> Exchange has temporarily paused Withdrawals.
> Stolen funds exceeds 45% of total reserves. Exchange disclosed $500M holdings in Proof of Reserves Report in June.

> Arkham Bounty for the hack solved by ZachXBT: link
> According to zachxbt and Elliptic North Korean Hacker Group Lazarus likely behind the hack.