According to CoinDesk, Michael Saylor, the executive chairman of MicroStrategy, remains highly optimistic about Bitcoin's future. Speaking at the Bitcoin 2024 conference in Nashville, Saylor projected that Bitcoin could rise to $13 million by 2045 in his base case scenario. He noted that with Bitcoin's current price around $65,000, it has a market cap of $1.3 trillion, representing just 0.1% of global wealth. Saylor explained that for Bitcoin to reach $13 million by 2045, it would need an annual rate of return of 29%. At that level, Bitcoin would have a market cap of $280 trillion and account for 7% of global wealth. In a more optimistic scenario, Saylor suggested Bitcoin could be worth as much as $49 million, capturing 22% of global wealth. Conversely, his bear case scenario estimated Bitcoin's value at $3 million, accounting for 2% of global wealth. Under Saylor's leadership, MicroStrategy has accumulated 226,331 Bitcoin tokens over the past four years, currently valued at approximately $15 billion. This represents an 80% increase over the cumulative purchase price.

According to Blockworks, as the US election season intensifies, the volumes and total value locked (TVL) on the leading crypto-based prediction market, Polymarket, are expected to continue rising. Polymarket has seen significant growth this year, with TVL doubling over the past 30 days. While derivatives markets for most financial assets are typically much larger than the underlying spot markets, this is not yet the case in crypto, particularly onchain. Most futures trading still occurs on centralized exchanges. However, the fully onchain derivatives platform D8X aims to combine the growing phenomena of prediction markets and perpetual futures in the crypto space. D8X co-founder Caspar Sauter views the upcoming launch of leveraged prediction markets via orderbook-based futures as a natural progression. Sauter expressed his enthusiasm for prediction markets and perpetual futures, stating, “As an economist, I love the fact that you can actually have a market to get predictions. I love [Polymarket], my co-founder loves the product, and we love perps — so the natural next step was to think, ‘can we do leverage?’” However, implementing leveraged prediction markets presents challenges, similar to those faced by perpetual markets on low-cap crypto assets, often referred to as “alts” or “shitcoins.” Prediction markets have unique features, such as a price bound from $0-1, and are susceptible to sudden, violent moves driven by external events, making them unlike highly liquid perpetual markets like bitcoin. For example, Polymarket’s most liquid offering, the US presidential election winner, has seen $391 million bet to date, and a breaking news headline can potentially change the outcome instantly. Sauter noted that attempting to introduce perpetual futures on a highly illiquid and volatile spot market could result in significant losses from the outset. One potential solution is to require full collateralization with no leverage offered, but this approach lacks appeal for risk-tolerant speculators and is not capital efficient for market participants, including market-makers, to hedge. The specific financial engineering details to be used by D8X remain undisclosed for now. Sauter mentioned that multiple other teams are working on similar products, and he is interested to see how each will tackle the challenge. For instance, Solana-based derivatives exchange Drift announced it is also developing prediction markets. D8X’s testnet deployment is expected to launch in a few weeks, and the platform will not be limited to political predictions. Sauter emphasized the flexibility of their system to offer a variety of prediction markets, stating, “Having a prediction market is a fantastic idea. The system we have will be relatively flexible to offer more than that.” However, political prediction markets have clearly garnered significant interest, and adding leverage to them is seen as an attractive feature.

On Jul 26, 2024, 19:48 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 68,000 USDT benchmark and is now trading at 68,043.976563 USDT, with a narrowed 5.18% increase in 24 hours.

According to CoinDesk, Bitcoin layer 2 Rootstock has successfully interactively verified a SNARK proof, marking a significant advancement in the development of zero-knowledge proofs on the Bitcoin network. This verification was achieved using BitVMX, Rootstock's modified version of BitVM, which is designed to enable Ethereum-style smart contracts on Bitcoin. The verification process was completed on Rootstock's mainnet on Thursday, following a successful testnet run the previous day. Zero-knowledge SNARK (Succinct Non-Interactive Argument of Knowledge) is a method that allows one to prove knowledge without revealing the information itself and without requiring interaction between the prover and verifier. Rootstock's team highlighted that this development is a major leap forward for the BitVMX proving system, demonstrating the capability to challenge and validate the execution of a SNARK verifier on-chain. This breakthrough paves the way for replicating the process with any program compiled to the RISC-V architecture, utilizing BitVMX’s general-purpose virtual CPU.

According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) announced that Senior Judge David C. Guaderrama of the Western District of Texas has ruled on July 9th, ordering Abner Alejandro Tinoco and his company, Kikit & Mess Investments, LLC, to pay more than $31 million in total economic compensation. This includes $6,203,792.18 in restitution to 199 victims, $6,257,904.89 in disgorgement, and a civil monetary penalty of $18,773,714, which is three times the illegal gains from their fraudulent forex and cryptocurrency scheme.

According to Odaily, information disclosed by CNBC indicates that the market currently expects the Federal Reserve to implement three interest rate cuts before the end of the year. This anticipation is driven by recent improvements in inflation data.

According to Odaily, Andrew Left and Citron Capital have been charged by the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) for alleged involvement in a multi-million dollar fraud scheme. Citron Research, a well-known short seller of GameStop, announced in June that it would no longer short GameStop.

According to BlockBeats, Kamala Harris's team has seriously considered an invitation to the Bitcoin 2024 conference, as reported by Fortune magazine on July 27. This development is noteworthy given the Democratic candidate's historically hostile stance towards cryptocurrencies. Harris's potential engagement with an audience of 30,000 Bitcoin enthusiasts could signal a significant shift in policy under her leadership. Former senior trial attorney at the U.S. Commodity Futures Trading Commission (CFTC), Gary DeWaal, told Fortune that he does not expect Harris to comment on cryptocurrencies before August 7, when she is set to announce her vice-presidential pick. DeWaal emphasized that this announcement is her current priority. When President Biden took office, many of his economic advisors were former colleagues of Senator Elizabeth Warren, a staunch critic of cryptocurrencies. Harris, however, does not share this connection. A cryptocurrency lobbyist noted that Harris's tech advisors are perceived as pro-crypto, and her husband, Douglas Emhoff, is known to be a cryptocurrency enthusiast. The lobbyist added, "I expect her to change her stance." A potential positive indicator is that this week, businessman and Bitcoin enthusiast Mark Cuban told Decrypt that he received multiple inquiries about cryptocurrencies from Harris's team.

According to BlockBeats, on July 26, the Swiss Financial Market Supervisory Authority (FINMA) issued guidance on Friday, highlighting the risks that stablecoin issuers operating in Switzerland pose to their partner banks. The regulator noted that these issuers collect deposits from the public and should be considered banks. However, they avoid the need for a banking license by entering agreements with registered lenders to repay customers in case of default. FINMA's guidance emphasized that this arrangement exposes both stablecoin holders and the banks providing default guarantees to significant risks. If a stablecoin issuer engages in misconduct, the banks involved could suffer reputational damage and face legal risks due to their contractual relationships with the issuers.

According to Odaily, Bitcoin expansion network Mezo has announced the completion of a $7.5 million funding round. The round was led by Ledger Cathay Fund, with participation from ArkStream Capital, Aquarius Fund, Flowdesk, GSR, Origin Protocol, and Bybit's ecosystem project Mantle EcoFund. This latest funding brings Mezo's total financing to $30 million. However, Mezo's founder, Matt Luongo, declined to comment on the structure and valuation of this funding round.

According to Odaily, US Vice President Kamala Harris has declined an invitation to attend the Nashville Bitcoin Conference. Despite this decision, sources indicate that Harris's team had seriously considered the invitation. A cryptocurrency lobbyist and former White House advisor, who wished to remain anonymous, stated in an interview, 'Harris doesn't have much time to redefine herself; she has a very short window to assert that she is an independent individual.' The source also mentioned that Harris is expected to clarify her stance on cryptocurrencies in the coming weeks.

According to Odaily, the Federal Reserve has announced the termination of enforcement actions against Silvergate Bank and its holding company, Silvergate Capital Corporation, based in California. Since May 2023, the Federal Reserve's enforcement actions ensured that Silvergate Bank conducted its liquidation and closure in a manner that protected depositors. Since then, Silvergate Bank has completed its liquidation and closure plan, repaid all customer deposits, and ceased operations as a bank.

According to Blockworks, crypto firm Ledger introduced a new security product at this year’s Bitcoin Conference, continuing its product lineup refresh for 2024. The new hardware wallet, named Ledger Flex, features a touchscreen and is the second new product from the Paris-based company this year, following the earlier release of Ledger Stax. Ledger CEO Pascal Gauthier stated that the company’s devices already secure more than 20% of the world’s digital assets. He emphasized that the new secure touchscreen category aims to make self-custody more accessible for both consumers and enterprises. Founded in 2014, Ledger has sold approximately six million devices over the past decade. The Stax product was designed by Tony Fadell, a tech executive known for his role in developing the iPod. The new offerings, including the Flex and Stax products, feature touchscreens that provide proof-of-humanity and proof-of-identity capabilities. These features are intended to help protect against the increasing challenges posed by AI, according to Ledger. Additionally, a new app called Ledger Security Key offers two-factor authentication and passkey functionalities for these devices. Gauthier mentioned in a May blog post that the company had begun shipping Ledger Stax devices, and Ledger Flex is set to start shipping immediately. The CEO also noted that the “first-of-its-kind display” on the Stax was more challenging to mass-produce than initially expected. He expressed optimism about the future, stating that the crypto revolution will significantly change how people own and manage value in the coming years. However, he pointed out that current smartphones and laptops lack the necessary security features to support this transition. These product launches follow a “supply chain attack” on Ledger’s ConnectKit in December, which was described as a phishing attack on a former employee. Gauthier called it an “unfortunate isolated incident” and pledged to compensate the victims. Ledger continues to focus on enhancing security and accessibility in the crypto space.

According to Odaily, Drift Protocol has announced on the X platform that it will be launching a prediction market on the Solana blockchain. This new development is expected to leverage Solana's high-speed and low-cost infrastructure, aiming to provide users with a seamless and efficient prediction market experience. Drift Protocol's decision to utilize Solana highlights the growing trend of decentralized applications choosing the blockchain for its scalability and performance capabilities. The introduction of a prediction market by Drift Protocol on Solana is anticipated to attract a wide range of users interested in decentralized finance (DeFi) and blockchain-based prediction markets. This move aligns with the broader industry trend of expanding DeFi services and enhancing user engagement through innovative solutions.

According to Odaily, the Michigan state pension fund has made a significant investment in the cryptocurrency market. In the second quarter, the fund purchased $6.6 million worth of ARKB spot Bitcoin ETFs. This move highlights the growing interest and confidence in digital assets among institutional investors. The acquisition marks a notable step for the pension fund, reflecting a broader trend of traditional financial institutions diversifying their portfolios with cryptocurrency investments.

According to Odaily, Democratic Senator Elizabeth Warren from Massachusetts has raised concerns about the potential threats posed by foreign-owned cryptocurrency mining facilities in the United States. Warren highlighted that adversaries might exploit these mining operations to monitor military bases, disrupt the power grid, or covertly transfer funds in and out of the country. She emphasized that foreign companies are increasingly establishing crypto mining facilities in the US, even though such operations are banned in their home countries.

According to Foresight News, Nomura Holdings' digital asset division, Laser Digital, is set to introduce an Ethereum spot ETF alternative fund. The launch, supported by Galaxy Digital and crypto startup Dinero, is scheduled for early September. This fund will be available exclusively to qualified investors such as hedge funds and private investment offices, and will not be accessible to retail investors.

According to U.Today, the Shiba Inu (SHIB) community has been alerted to an increasing threat of job scams targeting its members. As the popularity of Shiba Inu grows, so does the interest of bad actors looking to exploit unsuspecting individuals. ShibArmy Scam Alerts has issued a warning about fake job offers that could lead to crypto wallets being drained. The scam operates in three steps: a fake job offer is sent out, victims are asked to download malicious software and a browser extension, which then drains cryptocurrencies from the victim's wallets. First, scammers advertise enticing job opportunities, such as high-paying positions to beta-test games or complete other tasks. These job postings may appear on respected job forums and social media platforms, making them seem authentic. Next, victims are requested to download software purportedly related to the job, such as a game or application. The downloaded software contains malware that can compromise users' computers and access their cryptocurrency wallets. This malware installs malicious browser extensions without the user's awareness. These extensions can work with cryptocurrency wallet extensions, such as MetaMask, to approve transactions or steal private keys. ShibArmy Scam Alerts shares several tips for the Shiba Inu community to protect their assets. First, they should verify job offers by researching the company thoroughly, seeking independent reviews, and verifying credentials. They should be skeptical of job offers that appear too good to be true, particularly those involving cryptocurrencies. Second, Shiba Inu users should only download software from official websites and verified platforms, avoiding installations from unknown or suspicious sources. To maintain browser security, community members should regularly review and audit browser extensions, removing any that are not utilized or recognizable. They should reinstall their browser and extensions regularly to keep them free of malicious software. To ensure wallet security, SHIB holders should never reveal their private keys or seed phrases to others and should employ hardware wallets to increase security. They should evaluate connected apps in cryptocurrency wallets regularly and block any unauthorized or unneeded connections. For those who may have fallen victim to this type of scam, ShibArmy Scam Alerts advises uninstalling the malicious software, reinstalling the browser and extensions, and resetting the wallets. Users should create new wallets for all cryptocurrencies and move any remaining funds to these new wallets, ensuring not to reuse compromised wallets.

According to U.Today, Cardano has achieved a significant milestone with the release of a major node update, as the network prepares for the highly anticipated Chang upgrade. The newly released Cardano Node 9.1.0 marks a crucial step toward the Chang hard fork, which aims to introduce governance features and initiate the technical bootstrapping phase outlined in CIP-1694 Bootstrapping Phase. The release of Cardano Node 9.1.0, as stated in a Github release, is the mainnet candidate for Chang Upgrade #1. This update brings a configuration file update to the previously released Node 9.0.0. The main difference between Node 9.0.0 and Node 9.1.0 is the requirement of a Conway genesis file at start-up, which was optional in the earlier version. This file is essential for crossing the Chang hard fork boundary. In addition to the genesis file requirement, Node 9.1.0 includes several bug fixes and enhancements to the CLI and API, such as a

According to U.Today, a notable cryptocurrency whale, known for holding onto assets for extended periods, recently sold a significant amount of PEPE coins. This whale, who had held the PEPE coins for nearly a year, made a substantial return on the investment in this meme coin. The whale transferred 170.2 billion PEPE coins to a cryptocurrency exchange and sold them, earning $1.77 million. The return on investment (ROI) for this transaction was an impressive 886%. The whale had initially purchased 107.2 billion PEPE coins at the end of October last year, spending 200,000 USDC on the purchase and holding onto the coins until now. This transaction highlights the potential for significant gains in the volatile cryptocurrency market, particularly with meme coins like PEPE. Over the past 24 hours, PEPE has experienced a notable decline, losing nearly 12% in value after a 10.76% increase on Wednesday. The coin has dropped below the $0.00001293 price mark, hitting $0.00001141. PEPE, which emerged in April last year, was created by a team of anonymous developers and is inspired by the Pepe the Frog meme. Unlike other popular meme coins, PEPE has not seen any updates or developments since its launch, and its utility remains at zero. Despite this, the coin continues to attract short-term investors and traders who actively buy and sell it. The lack of updates and ongoing development has led to PEPE being viewed primarily as a speculative investment tool. In contrast, other meme cryptocurrencies like Dogecoin, Shiba Inu, Floki, and BabyDoge have seen continuous updates and developments, adding to their utility and appeal. PEPE's appeal among short-term investors and traders underscores the speculative nature of the cryptocurrency market, where significant gains can be made, but risks remain high.