Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
Happy Monday, Ndaxers— Here’s what happened last week:
The Arbitrum DAO has shown significant support for implementing staking for ARB tokens, with 91.5% of voters signaling approval. The move is part of a broader strategy to enhance governance participation and strengthen the security of the Arbitrum protocol. Currently, only about 10% of ARB’s circulating supply is actively used in governance, and voter engagement has declined since the DAO’s launch. The new staking mechanism aims to reverse this trend by incentivizing ARB holders to delegate their tokens to active governance participants, allowing them to capture value through potential rewards. crypto.news
Donald Trump, the Republican presidential candidate, has announced a pro-crypto transition team as part of his preparations for a potential second term in the White House. Key figures on the team include Howard Lutnick, CEO of Cantor Fitzgerald, and Linda McMahon, chair of the America First Policy Institute. Lutnick, a vocal Bitcoin supporter, has been involved in significant crypto initiatives, including a $2 billion Bitcoin funding project and advocating for stablecoins and asset tokenization. Trump’s son, Donald Trump Jr. and Eric Trump are also involved in crypto projects, with Trump Jr. launching a Telegram channel to share verified information.
In contrast, Democratic Vice President Kamala Harris has enlisted anti-crypto advisors from President Joe Biden’s administration, such as Brian Deese and Deputy Treasury Secretary Wally Adeyemo. Deese is believed to be the architect of "Operation Choke Point 2.0," aimed at restricting crypto businesses from traditional financial systems. Harris's silence on crypto policies has raised concerns among digital asset proponents. crypto.news
Developers have released the whitepaper for BitVM2, the latest iteration of Bitcoin's sidechain technology, which introduces significant updates aimed at improving security and reducing the number of on-chain transactions required for dispute resolution. The new version allows for permissionless challenging of transactions, enabling any user to verify and challenge the system without requiring changes to Bitcoin's consensus. BitVM2's bridge design, described as the most secure BTC bridge to date, employs a 1-of-n security model, providing robust protection against unauthorized transactions. The whitepaper highlights BitVM2's potential to support new classes of applications on the Bitcoin network while addressing scalability challenges that have hindered existing Bitcoin bridges. crypto.news
The New York Stock Exchange (NYSE) American and Nasdaq International Securities Exchange (ISE) have withdrawn three more proposals for rule changes aimed at listing options on Bitcoin and Ether exchange-traded funds (ETFs). These withdrawals, disclosed in regulatory filings on August 14 and 15, follow a series of similar actions, reflecting ongoing regulatory scrutiny around spot Bitcoin and Ether ETF options in the U.S. The Securities and Exchange Commission (SEC) has previously requested more time to review these proposals, leading to this recent flurry of withdrawals. Cointelegraph
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Disclaimer: This article is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.