|
Today’s edition is brought to you by Qubic - the L1 built for AI. |
Check out what it’s all about |
|
GM. This is Milk Road – the crypto version of your gossipy neighbor, Jan. |
(We keep you up to date with EVERYTHING). |
Here’s what we got for you today: |
✍️ The biggest day in crypto’s political history ✍️ Everything else that just happened 🎙️ The Milk Road Show: Bitwise CIO Predicts Major Demand Coming from Countries and Institutions 🍪 Bitcoin ETFs recorded over $3.6B inflows in the past 6 days |
|
|
THE BIGGEST DAY IN CRYPTO’S POLITICAL HISTORY (MAYBE EVER) 🏛️ |
Imagine if the Super Bowl, World Series, Stanley Cup, and NBA Finals all happened on the same day. |
That’s kind of like what just happened in the world of crypto politics yesterday afternoon. |
Here’s everything you missed! |
1/ We got our first crypto-focused executive order (EO) |
|
The executive order basically appoints a ‘working group’ to create regulatory framework proposals around: |
Protecting blockchain and digital asset use. The aim: ensure individuals and companies can lawfully use public blockchains without needing intermediaries. Promoting dollar-backed stablecoins. The aim: support the growth of legitimate, dollar-pegged stablecoins to strengthen the US dollar's dominance globally. Giving fair access to banking services. The aim: guarantee law-abiding individuals and businesses fair and equal access to banking without unjust restrictions. Creating clear rules for digital innovation. The aim: create transparent, technology-neutral regulations that will encourage innovation in the digital economy. Opposing Central Bank Digital Currencies (CBDCs). The aim: ban CBDCs in the US (hell yeah!). Evaluating a national Digital Asset Stockpile (aka: Crypto Strategic Reserve). The aim: figure out what it would take to create/maintain a national stockpile of digital assets. |
The ‘working group’ now has 180 days (starting yesterday) to deliver their regulatory proposals to the President. |
Which also means… |
2/ We now have new clarification on ‘Wen Bitcoin Strategic Reserve?’ |
“Hey Siri, remind me to check Twitter on July 23” 👇 |
|
3/ SAB 121 was overturned! |
|
If you’re not familiar with SAB 121, we covered it here – but in short, it made banks’ accounting processes way more complicated the moment they took custody of a customer’s crypto. |
(Incentivizing banks to avoid crypto altogether). |
4/ The launch of the “Senate Banking Digital Assets” subcommittee |
|
Ok, so you know how the Executive Order from above asks for a ‘working group’ to research/draft different crypto regulatory frameworks, and then present them to the President? |
The Senate Banking Digital Assets subcommittee is pretty much tasked with doing the same thing, but they’re forming legal frameworks, and then presenting them to congress. |
Meaning they’ll eventually try to get their recommendations passed into law. 🔥 |
Ok, now – go chug some water, stretch your legs, and tell yourself “you got this” in the bathroom mirror… |
‘Cause we have a list of four more events (outside the realm of crypto politics) that recently went down, and they’re waiting for you in the next article. 👇 |
|
| | AI is one of the world's hottest sectors. | Inside of web3, the intersection of AI and crypto is booming. | But what projects fall under this “Crypto x AI” thing? | One of them is Qubic - the L1 blockchain built specifically for AI. | It’s a super complex project filled with nerdy buzzwords, but here’s the TL;DR: | "Useful" PoW: Mining compute is directed specifically towards powering AI ⚡ No fees: All native token transactions are feeless 💸 Blazing speed: Smart contracts execute in under one second 💨 | Crypto x AI is only getting bigger and you don’t want to get left behind. | 👉Learn more about Qubic |
|
|
|
EVERYTHING ELSE THAT JUST HAPPENED OUTSIDE OF POLITICS 💪 |
Electrolytes replenished? Cortisol reduced? Chakras centered? |
Perfect! Let’s unwind all of that hard work… |
1/ Larry Fink wants to move bonds and stocks onchain |
|
If this feels like a bit of a snooze fest ‘cause you only trade crypto assets – slow your roll! |
Not only would such a transition make US-based stocks and bonds available to a larger global audience and allow 24/7 trading – but every tokenized stock and/or bond would also contribute trading fees to the underlying blockchain it's hosted on. |
More trading fees generated = more network value being created. |
2/ $SOL / $XRP futures incoming? |
Someone just found a testing page live on the CME website that suggests the CME Group is about to launch $SOL and $XRP futures products… |
|
Why does this matter? ‘Cause futures have historically been the common pathway to spot crypto ETFs being launched in the US! |
3/ The co-founder of Ledger was kidnapped and had his finger cut off |
PSA: don’t publicly brag about how much crypto you have. David Balland has a target on his back just by being known as a Ledger co-founder – but you have a choice. |
|
These kinds of attacks are also known as ‘$5 wrench attacks’, because you don’t need any kind of hacking abilities to pull them off – just a $5 wrench. |
4/ The first major web2 AI agent (‘Operator’) was announced by OpenAI |
|
Oooft – it appears crypto AI agents now have some solid competition! |
OpenAI’s ‘Operator’ agent can book tables for you using OpenTable, order groceries for you via Instacart, book tickets for you on Stubhub, and a whole lot more! |
The kicker? It’s live today for ChatGPT Pro users, in the US! |
|
It’s ok! Shhh, shhh, shhh! |
You made it. It’s over. The news feed can’t hurt you anymore. |
| YOUR NEW FAVORITE CRYPTO TOOL JUST DROPPED… 🥛 | Ever wondered what we think about Token X or Token Y? Now you don’t have to. Yesterday we launched our Token Centre, which gives you instant access to our takes on the hottest tokens of the moment. | Like $AVA, the flashy new AI token launched by Holoworld. With backing from Binance this token combines multimodal social media integrations with blockchain for immersive experiences. All sounds very impressive, right? | But what do you think we’ve rated it? Bullish, bearish or neutral? | 👉 Click here to find out. |
|
|
|
BITE-SIZED COOKIES FOR THE ROAD 🍪 |
Bitunix is handing out 400 USDT for free. All you gotta do is deposit some money, make a trade and the cash is yours. Free money? You gotta love crypto.* |
Bitcoin ETFs recorded over $3.6B inflows in the past 6 days. We’re lowkey used to hearing numbers like this often now but if you step back, these flows are absolutely insane. Wild times. |
Solana TVL soars 600%. Launch of $TRUMP has really brought all the attention back to Solana. |
$IVANKA is fake. In case you were planning to ape in, you gotta know that this memecoin wasn’t launched by Ivanka Trump. |
We’ve added a new job opening! We now have 3 job positions available, the latest one being a social media manager here at Milk Road. |
Uphold just launched its own rewards program. From stablecoin yields to exclusive token reports, we can promise you that this rewards program is pretty unique.* |
*This is sponsored content. |
|
MILKY MEMES 🤣 |
|
|
|
|
|
|
RATE TODAY’S EDITION |
What'd you think of today's edition? |
|
ROADIE REVIEW OF THE DAY 🥛 |
|
VITALIK PIC OF THE DAY |
|
|
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |
