The Bad Crypto Podcast
Ep 739 - Harris Proposes 25% Unrealized Capital Gains Tax - Bad NEWS for Aug 21, 2024
Aug 22, 2024
This week, massive inflows of $1 billion into BlackRock's Ethereum ETF create buzz in crypto circles. Tether's new UAE-backed stablecoin aims to shake things up, while the Vatican introduces intriguing 'soulbound' NFTs. The hosts dive into 80s trivia alongside market trends, contemplating the fall of Cardano. Political conspiracy theories intertwine with crypto discussions, as they envision future administrations and notable crypto figures. The episode wraps up with a whimsical AI-generated song, delightfully reflecting on cryptocurrency's wild ride.
28:31
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Quick takeaways
- BlackRock's Ethereum ETF gained $1 billion in inflows this week, indicating a significant shift in market interest towards Ethereum-based investments.
- The Vatican's upcoming NFT project featuring non-transferable soul-bound tokens highlights the evolving role of NFTs in preserving cultural heritage.
Deep dives
Ethereum ETF Breaks Records
BlackRock's Ethereum ETF has achieved significant momentum by attracting $1 billion in inflows this week, marking a milestone as the first US spot Ethereum ETF to do so. This surge reflects growing interest in Ethereum-based financial products and signals a shift in market sentiment towards Ethereum, which may suggest that it is positioning itself as a formidable player in the cryptocurrency market. There are discussions about the potential emergence of a Solana ETF in the near future, which could further disrupt the dynamics of established cryptocurrencies. The massive inflow of capital into Ethereum indicates that investors are looking for opportunities outside Bitcoin, signaling a broader diversification in cryptocurrency investments.
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