Taking a photo with Trump at the convention costs $844,600; Biden has an 80% chance of withdrawing from the election

Headline

▌The price for taking a photo with Trump at the same table during the Bitcoin Conference is $844,600

The Bitcoin Conference is scheduled to be held in Nashville, Tennessee, next week (July 25-27). Trump himself will attend the conference and give a speech on the 27th. The invitation obtained by the media shows that during the conference, supporters can pay $60,000 to get the opportunity to take a photo with Trump at the campaign fundraising event to be held by Trump. If two people take a photo with Trump at the same time, the price is $100,000. If you want to sit at the same round table with Trump and take a photo, the price will soar to $844,600. According to US campaign finance regulations, this is also the upper limit of the amount that an individual or entity can donate within a specific time period. People familiar with the matter revealed that Trump's deputy Vance will also attend the fundraising event as a special guest next week. It is reported that the number of attendees of this event will be controlled at 100-150 people. After the reception, these guests will also get front-row seats at the Bitcoin Conference and watch Trump's conference speech up close.

▌Polymarket: Biden's probability of withdrawing from the election has risen to 80%, a record high

The prediction market Polymarket released data on the X platform showing that Biden's probability of withdrawing from the election has risen to 80%, a record high.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $63,955.95, with a daily increase or decrease of -0.2%;

ETH's latest transaction price is $3,426.79, with a daily increase or decrease of +1.1%;

BNB's latest transaction price is $571.92, with a daily increase or decrease of +0.6%;

SOL's latest transaction price is $158.96, with a daily increase or decrease of +2.1%；

DOGE's latest transaction price is $0.1195, with a daily increase or decrease of -1.9%；

XPR's latest transaction price is $0.5693, with a daily increase or decrease of -9.1%。

Policy

▌South Korea's first cryptocurrency law is now in full effect

South Korea's first cryptocurrency regulatory framework is now in full effect, with a focus on ensuring the safety of cryptocurrency investors. The new law, the Virtual Asset User Protection Act, was officially approved on July 18, 2024, and was given a one-year grace period to perfect the regulatory details. The bill imposes stricter requirements on digital asset exchanges, and service providers in South Korea are now legally obliged to store at least 80% of user cryptocurrency deposits in cold wallets separated from their own funds. Exchanges must also entrust users' cash deposits to local licensed banks for safekeeping and maintain cryptocurrency reserves equal to the amount and type of customer deposits. In addition, crypto services in South Korea must now take out sufficient insurance or establish reserve funds to deal with hacker attacks or liquidity crises. ▌ Trump is rumored to announce the United States' Bitcoin strategic reserve policy next week According to Bitcoin Archive on the X platform, Trump is rumored to announce the United States' Bitcoin strategic reserve policy next week.

▌Putin warns that uncontrolled growth in cryptocurrency mining could trigger an energy crisis in Russia and emphasizes the practicality of the digital ruble

Russian President Vladimir Putin warned that the uncontrolled growth of Bitcoin mining in Russia could cause energy problems, especially in areas with frequent power shortages such as Irkutsk, Buryatia and Trans-Baikal Territory. Putin pointed out that these mining activities consume about 1.5% of the country's total electricity consumption, or up to 16 billion kilowatt-hours per year. He stressed that unrestricted mining expansion could lead to the limits of regional power systems and affect the development of corporate, residential and public service systems.  

Against the backdrop of the chaotic situation of Bitcoin mining, Putin also seized the opportunity to promote the Russian digital ruble, the central bank digital currency (CBDC), saying that it had completed 7,000 payments for goods and services and more than 27,000 transfers during the testing phase, emphasizing its performance and practicality. The digital ruble is part of Russia’s economic modernization program, aimed at reducing its reliance on Western financial institutions.

Blockchain Applications

▌Italian CDP issues €25 million digital bond on Polygon

Italy’s Cassa Depositie PrestitiSpa (CDP) has issued a €25 million digital bond on the Polygon public blockchain, underwritten by Intesa Sanpaolo as the sole investor. The issuance is part of the European Central Bank’s (ECB) wholesale DLT settlement trial. Payments were therefore made in central bank money using the Bank of Italy’s TIPS Hash Link solution, which provides a connection between DLT and the TARGET2 system for wholesale payments. CDP is a development bank majority-owned by the Ministry of Economy and Finance.  

Fabio Massoli, Director of Administration, Finance, Control and Sustainability at CDP, said: “This transaction represents an important step forward in innovation in the capital markets by CDP, through the pioneering use of blockchain technology in bond issuance.”

Cryptocurrency

▌Analyst: Bitcoin’s next target is $74,000

Bitcoin Analyst Trader Tardigrade said, "Bitcoin's next target: $74,000. BTC has formed a tight bull flag on the daily chart, with the pole measuring $74,000. Or set the current all-time high."

▌People familiar with the matter: Crypto market maker Wintermute is in financing negotiations

Digital asset market maker Wintermute is discussing a round of financing, according to informed investors. The company is discussing the sale of $100 million in shares, part of which will go to existing shareholders. Wintermute will also issue new shares, but the exact amount has not yet been determined. People familiar with the matter added that negotiations are ongoing and details have not yet been finalized.

▌Musk responds to $45 million monthly donations to Trump: monthly funds are far below that level so far

Regarding political donations, Musk said that he did create a political action committee (PAC) focused on supporting US presidential candidates, but did not promise any donations to anyone. So far, monthly funds are "far below" $45 million.

▌Grayscale Spot Ethereum Mini ETF Fees Drop to 0.15%

Grayscale Spot Ethereum Mini ETF Fees Drop to 0.15% (from 0.25% yesterday).

▌Messari CEO Ryan Selkis was asked to calm down by company leaders due to extreme remarks

Ryan Selkis, founder and CEO of Messari, posted a number of fierce tweets on social media, including saying that those who oppose Trump "can die" and suggesting that the civil war has begun, which has attracted widespread attention. His remarks have caused concern among colleagues in the company, and Messari's leaders have asked him to calm down.  

Selkis's fierce remarks include responses to the failed assassination attempt on Trump and anti-immigrant and anti-left remarks. He also called Senator Elizabeth Warren the "number one public enemy" of cryptocurrency and hinted that she has a similar appearance to Trump's attempted assassin. In addition, he threatened Securities and Exchange Commission Chairman Gary Gensler with impending imprisonment.  

Although Selkis admitted on Twitter that he was "too excited this week" and said he would address the issue comprehensively soon, he did not significantly reduce the intensity of his remarks. Selkis emphasized self-defense and serious concern about the current political situation in his tweets.  

Such extreme remarks have raised widespread questions about his behavior as the CEO of an important cryptocurrency data platform, especially in the context of Messari's significant venture capital support.

▌People familiar with the matter: If Biden continues to run, the financial contributions received in July may drop to half of that in June

According to the New York Times, four people familiar with the presidential campaign's financial situation revealed that if Biden continues to run, the financial support received from major donors in July may drop to half of that in June.

Important Economic Dynamics

▌The probability of the Fed keeping interest rates unchanged in August is 96.4%

According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in August is 96.4%, and the probability of a 25 basis point rate cut is 3.6%. The probability of the Fed keeping interest rates unchanged by September is 2.9%, the probability of a cumulative 25 basis point rate cut is 93.6%, and the probability of a cumulative 50 basis point rate cut is 3.5%.

▌Fed's Daly: Recent inflation data is good, but the target has not been achieved

Fed's Daly said that the recent inflation data in the United States is good, but the target has not been achieved; the labor market is returning to balance; there are dual risks in monetary policy choices; the Fed still relies on data to formulate monetary policy; there is a risk of making mistakes in early action or emergency policy actions; prices have not yet stabilized.  

Daly said he would not predict a recession in the United States, but he could not say "the job is done."

Golden Encyclopedia

▌What is an infinite minting attack?

An infinite minting attack is when an attacker manipulates the contract code to continuously mint new tokens that exceed the authorized supply limit. This type of hacking is most common in decentralized finance (DeFi) protocols. This attack compromises the integrity and value of a cryptocurrency or token by creating an unlimited number of tokens.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to increase risk awareness.