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Prices of BTC and ETH have slightly decreased, yet a bullish sentiment remains as the anticipation of the first ETH ETF is high. Potential positive impacts on trading and market movements are discussed in light of the upcoming ETF launch.
The recent Supreme Court decision to overturn the Chevron deference rule is explored, highlighting its impact on regulatory power allocation. The rule previously allowed agencies to interpret laws based on ambiguity, affecting how rules are enforced, particularly relevant for the evolving crypto space and its legal challenges.
The SEC has filed lawsuits against Consensus and defined staking platforms like Lido and Rocket Pool as securities, raising concerns and provoking debate regarding the classification of such services. The ongoing regulatory actions and implications on the crypto industry are under scrutiny amidst disagreements on the categorization of staking-related offerings.
Legal victories in court rulings declare secondary sales of Binance USD (BUSD) and BNB as non-securities, aligning with previous decisions. The dismissal of SEC's claims against these cryptocurrencies reaffirms clarity and favorable outcomes for the crypto industry, setting precedents on regulatory classifications of digital assets.
Innovations in the Layer 2 space are introduced through Sync's network upgrade, showcasing advancements in scaling solutions for blockchain applications. Additionally, the potential mainstream breakthrough of a familiar cryptocurrency app is teased, hinting at broader adoption and utility within the digital asset ecosystem.
Cartesi provides developers with a virtual machine to run a full Linux OS, enabling access to extensive code libraries for Web3 app building. Their roll-up framework ensures scalable and efficient computation without block space competition. Cartesi offers grants up to $50,000 for developers and allows CTSI stakers to participate in governance decisions.
ZK-Sync's Elastic Chain, the ZK Sync 3.0, expands on previous versions to enhance scalability by creating a federation of interconnected ZK chains. This architecture enables a single address to transact seamlessly across multiple ZK Sync elastic chains, providing a unified multi-chain ecosystem. The Elastic Chain aims to streamline interaction across various ZK Sync chains, offering a more efficient and cohesive blockchain experience.
Bankless Friday Weekly Rollup First Week of July
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------ TIMESTAMPS & RESOURCES 00:00:00 Happy 4th Of July
00:08:04 Markets https://pro.kraken.com/app/trade/btc-usd https://pro.kraken.com/app/trade/eth-usd
00:10:13 A Likely Outcome
00:11:59 When ETF? https://x.com/NateGeraci/status/1807041501077110986 https://x.com/NateGeraci/status/1807548524910850284 https://www.youtube.com/watch?v=xaP5d1pmncY&ab_channel=Bankless
00:14:39 South America Is Growing https://thedefiant.io/news/defi/ethchile-highlights-triple-digit-growth-in-south-american-crypto-ownership
Crecimiento https://docs.google.com/document/d/15Mb1j9quuNAqZzuBfY60F9Y82emWjUktVfw8k--eeiw/edit#heading=h.u6pn408b547d
00:16:48 Why Are We Down? https://x.com/eli5_defi/status/1807712012342092145?s=46&t=2ZINVXJQKx6xO_6Wiiu_2g
00:22:40 Supreme Court overturned Chevron Deference https://x.com/JBSDC/status/1806799823107997893 https://www.supremecourt.gov/oral_arguments/argument_transcripts/2023/22-451_o7jp.pdf https://youtu.be/JlsM_k7PutQ?t=1243 https://x.com/JTLonsdale/status/1806697088509469119 https://x.com/balajis/status/1806773841395675218
00:28:02 Negative Takes https://x.com/kylascan/status/1806706937083441274 https://x.com/JBSDC/status/1806809534322590069
00:29:38 SEC Sues Consensus https://www.sec.gov/newsroom/press-releases/2024-79 https://x.com/MikeSeligEsq/status/1806834455962652760
00:35:51 US Marshals Service picks Coinbase https://www.coinbase.com/en-gb/blog/u-s-marshals-service-chooses-coinbase-to-safeguard-trade-its-large-cap https://x.com/ErikVoorhees/status/1806105760461726023
00:37:00 BNB and BUSD Sales Aren’t Securities https://x.com/EleanorTerrett/status/1806896212173328850 https://x.com/MetaLawMan/status/1807075663666434311
00:40:53 ZKsync Elastic Chain https://x.com/zksync/status/1808125972434067699 https://imgur.com/nYDhE9u https://x.com/hudsonjameson/status/1808326321728283093
00:47:19 Zerion No-Fee Chain https://x.com/zerion/status/1806364593352016174
00:48:16 Election Season is Polymarket Season https://www.coindesk.com/policy/2024/06/28/crypto-unmentioned-at-first-2024-presidential-debate/ https://polymarket.com/event/presidential-election-winner-2024?tid=1719919681564
00:55:53 Vitalik Likes https://x.com/vitalikbuterin/status/1808092065483436481?s=43&t=2ZINVXJQKx6xO_6Wiiu_2g
00:56:37 Coinbase and Stripe https://x.com/coinbase/status/1806425092513210492
00:57:06 Pay On Warpcast https://x.com/dwr/status/1806774735109562789
00:57:58 IRS issued crypto tax regime for 2025 https://www.irs.gov/newsroom/treasury-irs-issue-final-regulations-requiring-broker-reporting-of-sales-and-exchanges-of-digital-assets-that-are-subject-to-tax-under-current-law-additional-guidance-to-provide-penalty-relief-address
01:00:23 Circle's New License https://x.com/jerallaire/status/1807791418489889279 https://x.com/paddi_hansen/status/1808085759947124778
01:01:44 Raises Of The Week https://x.com/astriaorg/status/1808534932060614983?s=46&t=dAxCjT2P_GIrJMvMgWIpfA https://www.youtube.com/watch?v=5809YJpbhFg
01:02:59 JokeRace Update https://www.jokerace.io/contest/base/0x0bac0ec9b6aeafa6c2212f67a67950940eda63a7
01:04:54 Meme Of The Week https://x.com/testinprodcap/status/1806735419792302142
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
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