Tokens on Wrx trade at a discount. And Italy's top bank participates in a digital bond issuance on Polygon. You're watching coin desk daily. I'm your host, Jen Sani, the North Korea linked Exploiter that drained $230 million from Indian crypto exchange. Walzer X has converted most of those funds to Ether. According to Blockchain Tracker, look on chain and the Exploiter holds more than 59,097 E as of this morning worth around $200 million and another $15 million in various ALTs as of Friday morning, almost all tokens listed on the exchange traded at steep discounts to their global and local prices. A sign of poor liquidity and immense selling pressure. The Bitcoin Rupee dominated trading pair was down 22% in the past 24 hours. And the Shiba Inu Rupee pair was down 30%. Galaxy Digital has acquired substantially all the assets of Blockchain node operator crypto manufacture LLC in a deal that will increase the company's Ethereum assets under stake by about 43%. CMF started in 2020 was originally launched to build structure for the Blockchain oracle project chain link and later expanded into running automated proof of stake node deployment infrastructure on Ethereum. The deal comes with about a billion dollars of Ethereum assets under stake rising Galaxies total to $3.3 billion. And Italy's top bank CD P and in Tessa Sao Paulo, the largest lender in the country completed a digital bond issuance using Blockchain rails on Thursday. The first such transaction under the country's new digital asset rules, the €25 million bond with a four month maturity was issued by CD P on the Polygon Network. That's it for coin desk daily, get more updates on Coin desk.com and we'll see you next time.

Tokens on WazirX Trade at Discount; Italy's Top Banks Complete Digital Bond Issuance on Polygon

Every time that we see a big events, you know, for crypto, it gets reflected in the market because we still the markets are still following narrative and not only fundamentals. Hello and welcome to today's episode of Markets Daily by Coin Des, it's Thursday, July 17th and I'm your host, Helene Braun. The market is looking relatively quiet this morning. Both Bitcoin and Ethereum are roughly flat. The Coin 20 index which measures the performance of the 20 biggest assets is down by about 0.84%. Yesterday, we received an update on the spot, Ethereum ETF s all yours but one I believe pro shares submitted their final filings as expected and are now ready to launch their funds as soon as they receive the green light from the sec. One detail that these final documents revealed was the management or sponsor fee that the issues would charge investors. And to no surprise, although our newsroom was indeed a little surprised by the magnitude of it but gray scale its be 10 times higher than in competitors. They'll be charging investors 2.5% on their trades. While blackrock Fidelity and co are somewhere between 0.25% and 0.19% 1 expert on X said that they, they quote, might have screwed themselves. So, you know, if you follow this five Bitcoin ETF flows, you know, that gray skills, Bitcoin Trust has lost billions of dollars in assets under management while, while all other funds have seen inflows. But I'm sure there is a strategy here somewhere and maybe our guests will know more. So let's bring in Paola or Gel co founder and CEO of High Life Fund Management. Hi Helen, how are you doing? It's such a pleasure speaking with you now, thanks so much for joining us. Paula has gray skill not learned from the launch of the spot. Bitcoin ETF S. Now that fee was at 1.5 percent, which was already considered way too much by experts in the space. Now, they went even higher with the Ethereum ETF. Why would they do that when they've, you know, been bleeding billions already with their Bitcoin Fund? It's very interesting and that's a great question. And I asked that question myself, you know, especially because Black Just Black Rock just disclose uh their 0.25 fee for the spot Ethereum ETF filing as well. So I think the proposed fees for these Ethereum ETF S are very variant uh with Franklin Templeton suggesting a fee as low as 0.19%. And as we talk about gray scale, gray scale is looking to convert an existing fund into an ether ETF with a fee of 2.5 with it sounds pretty high, especially with the lesson lessons learned, you know, with the Bitcoin ETF. Um Also great scale is planning to spin out 10% of assets into an Ethereum mini trust to safeguard at least 10% of the assets over the short term. I think they're doing this aiming to avoid the high fee issues that dam the Bitcoin Ethereum. Uh I'm sorry, the Bitcoin ETF launch in the past now, what do you think will be the deciding factor here for investors looking to invest in one of these funds? Will it depend on the fees or is it going to be name recognition? We'll see Blackrock and Fidelity dominate again, I think it's gonna be a combination of both. Uh Definitely we'll see over and over again that the name brand carries a lot of weight but definitely in some cases the fees um also as well. Um You know, it's interesting like Bloomberg, intelligence analysts say far noted that seven out of the 10 have set to launch are offering fee waivers with some waiving fees entirely for periods ranging from 6 to 10 months. And many issuers involving the E three ETF race have previously launched Bitcoin funds. So which drew which as we know have drawn like around 6.6 billion in assets in the first three weeks and attracted around net 33.1 billion in inflows by the end of last month in June. So despite initial skepticism inflow predictions for authors remain very optimistic. And Ethereum has a smaller market size and trading volume compared to Bitcoin, which means we could see more price volatility. We have to remember that Bitcoin's market value is just over one trillion while it is around 359 billion. But I want to point out that the extensive and growing ecosystem built on Ethereum is expected to attract more investment into the existing protocols supporting and empowering the Ethereum ecosystem. Even the galaxy research estimates monthly inflows of 1 billion for Ethereum ETF S and Tom Don Levy from NV global expects up to 10 billion in inflows over the first few months. So those are big numbers. Uh even Bank X uh two and 2000 price target for the ET for the Ethereum ETF is based on its forecast that Ethereum take rate will generate around 66 billion in annual revenue by 2030. So those are pretty big numbers. So I think in essence, the approval of the CT is not just a win for Ethereum but for the entire crypto space, I think it really is validating the asset class and could pave the way for more financial products that integrate assets and drives for adoption uh and investment from traditional finance. Now you spoke about price volatility here for a little bit. What's your overall view of the market right now, we've been seeing a lot of volatility, especially in Bitcoin in the past few weeks. What do you attribute this to? I, I think, you know, the crypto market is known for its volatility and the recent sentiment shifts are a testament to these characteristics, right? I mean, just few weeks ago, we saw the market driven by greed as we're seeing it again and investors were eagerly buying into this rally. However, that quickly turned to fear as prices began to drop into the 50,000 only to revert back to greed shortly after. And we're seeing now, I think the price, as you say, they're, they're being pretty flat. I mean, this roller coaster, you know, highlights obviously the motion volatility of the crypto space without say. Um I think that Bitcoin's recovery above 65,000 this week is particularly, you know, not worthy. And I think you have touched on this point before on previous podcast. Um It's not just about price. I think it's a reflection of a broader market sentiment and external events. The rally partly was fuel by the broader market reaction to the shocking of an assassination attempt on former President Donald Trump. And these events sparked a wave of market activity affecting not only Bitcoin but other major cryptocurrencies, right? Like Ethereum, Solana B and B and even some meme coins related to Trump. Now. Why, why was that paola? Why is, what's the connection here between that event and and crypto markets. III I believe that having uh the approval of the stamp of approval of one of the major presidential candidates is unprecedented. We've seen, you know, the Democratic Party being very tough on regulation and station in the digital asset space. And I think that having that stamp of approval and even with the VP nominee of Trump with Vance, I think that people feel more confident that there is space and there is a bright future for crypto. Now it was announced, I believe earlier this week that Donald Trump is gonna be speaking at the Bitcoin Conference in Nashville next week. Is there an impact of these conferences on the market? Usually, I, you know, it's I'm asking that question myself. But I think yes, I think historically, every time that we see a big event, you know, for crypto, it gets reflected in the market because we still the markets are still falling narrative and not only fundamentals, but especially, I mean, the line up of participants for next week's Bitcoin conference is amazing. I think it's gonna be very interesting. I don't know if you're attending. I'm not, unfortunately, but we're not either. We have, we have two presidential candidates, right? We have Donald Trump, we have Robert uh Kennedy, we also have very big personalities in the crypto space like Michael Saylor, Anthony Scaramucci also going to be there. Even Russell brand, I think that's attracting a lot of attention and I'm very curious to see how the market will react. I anticipate, you know, and this is obviously my personal opinion. I think we're going to keep seeing a rally and I think the price of Bitcoin it will go further up. Now, Paula lastly, I want to ask you, you know, you come from a banking background having worked for HS BC. We see more and more of the, let's say more reluctant banks embrace the crypto industry and launch new products in the space Goldman Sachs last week. And there was news yesterday that State Street is looking to create stablecoins and tokenize deposits to settle transfers on Blockchain rails. Why now? Well, I think it makes sense to me, you know, especially because you mentioned my background, I think for, since we discovered Bitcoin, you know, and even when we first launched our hedge fund of funds in 2018, we have seen a lot of friction and resistance, you know, from traditional finance and also regulators, you know, to accept the space, embrace cryptocurrencies and even Blockchain technology. But more and more, I believe that trust by institutions like big banks and like a State street, they're seeing the major potential of the underlying technology, not maybe not so much yet, you know, the cryptocurrencies, but they're seeing the potential of implementing Blockchain in their platforms. And that's not only a coi coin and it's not a coincidence. Um That is at this moment. As I said before, I think the poli political environment and the potential uh stability of having a regulatory framework in the US for these asses is driven this interest much, much more, much more, much more um every day. All right, Paula, thank you so much for sharing your insights with us this morning. Thank you so much Helen for having me. It has been a pleasure and I hope I can see you again.

How Grayscale's 2.5% Fees Could Impact Investor Interest

CoinDesk

Last week, a federal judge convened a hearing for the U.S. Securities and Exchange Commission's case against Binance after publishing her ruling on Binance's motion to dismiss the SEC lawsuit.

A Second Look at Third-Party Token Allegations in the SEC's Case Against Binance

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 100 million users worldwide. Let's take a look at the chart of the day one crypto address that is recognized for substantial trading profits has made a fresh Bitcoin investment this week. According to data tracked by Arkham Intelligence and look on chain. The address amassed 245 Bitcoin worth nearly $16 million on Tuesday taking the tally to 248 Bitcoin. The transaction is noteworthy given the address's history of making profitable bets in the past 12 months, it has made $30 million by bargain hunting Bitcoin at low prices and selling closer to trend tops. Its latest investment suggests confidence in Bitcoin's price prospects as the leading Cryptocurrency recovers from the $53,500 level on July 5th as of 10 a.m. Eastern time, Bitcoin is trading above $65,000. That's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind top news stories.

Profit-Making Crypto Address Makes New Investment of $16M in BTC

Bankrupt crypto lender BlockFi will commence first interim crypto distributions through Coinbase in July 2024, it announced on Thursday.

BlockFi to Start Interim Crypto Distributions Through Coinbase This Month

New York City, NY

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

North Carolina State

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

community_voice

Town Talks

As North Carolina continues to attract new residents, understanding the rights and obligations of both tenants and landlords becomes increasingly important. Here’s what you need to know about landlord entry and tenant rights in the state.

Can landlords enter at any time, or is it trespassing? Here are the rules in North Carolina

Virginia State

Margaret Minnicks

WVTF reported that a new Virginia law will become effective on July 1, 2024. The law will prevent utility companies from disconnecting services on various occasions, which could leave someone without power for days.

A new law will keep utilities from being disconnected on weekends and holidays in Virginia

The Shy Green

Salt Life Beer, a beloved brand synonymous with ocean enthusiasts and craft beer lovers, is facing turbulent times as it files for Chapter 11 bankruptcy. Known for its crisp and refreshing lager inspired by the sea, Salt Life Beer has become a staple for those who cherish the ocean's allure.

Another famous beer brand is going bankrupt and will file for Chapter 11

Oregon State

Youngstown, OH

A look at some recent news from the pharmacy world. Rite Aid, a familiar name in communities across the country, is facing some tough times. After filing for bankruptcy, they've now announced the closure of four additional locations, adding to the more than 200 stores already shuttered. These closures are part of Rite Aid's strategy to reevaluate its retail presence and navigate through financial challenges.

A well-known pharmacy is closing four more stores because they went bankrupt

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Georgia State

Dublin, GA

Daily Coffee Press

Officials from the U.S. Department of Justice have announced that a 42-year-old man from Dublin, Georgia, has been sentenced to nearly 20 years in federal prison after pleading guilty to distributing fentanyl.

Georgia Man Sentenced to Nearly 20 Years for Fentanyl Distribution

Missouri State

Fulton, MO

CJ Coombs

Updated on July 17, 2024, concerning two of the missing children listed below. Bringing them home: for 40 years, the National Center for Missing and Exploited Children (NCMEC) has been helping to locate missing children.

Seven teenagers have been missing in Missouri since June 2024

Coral Gables, FL

Edmond Thorne

Tragic End for South Florida Hispanic Building Tycoon Sergio Pino. Fort Lauderdale, FL - In a shocking turn of events, prominent South Florida homebuilder Sergio Pino was found dead in his Coral Gables home on Tuesday morning. The Miami-Dade County Medical Examiner's Office confirmed that Pino died from an apparent suicide.

South Florida Tycoon Dead After FBI Raids on Homes and Office

Minnesota State

DayTripper

The hit History Channel series "American Pickers" is gearing up for an exciting return to Minnesota this fall. The show's production team has announced plans to film episodes throughout the state in September 2024, offering locals a chance to showcase their unique collections and share their stories with a national audience.

"American Pickers" Set to Unearth Minnesota's Hidden Treasures

If you're considering memorializing a relative on your own property in North Carolina, it's important to be aware of the state's regulations regarding home burials and the scattering of ashes.

Can you bury a relative at home in your backyard in North Carolina? Here’s what state law says

North Carolina’s beloved Biscuitville has once again been recognized as one of the best regional fast food chains in the United States. In USA Today's annual 10 Best Readers’ Choice Awards, Biscuitville ranked second overall and was also named the No. 1 best fast food breakfast spot in the country.

North Carolina is home to one of the best regional fast food chains in America

According to WRIC 8 News, a new speed limit will become effective on July 1, 2024 in Virginia. Speed limits in a business or residential district will be aslow as 15 miles per hour on Virginia highways.

A new speed limit law on highways becomes effective in Virginia on July 1, 2024

WazirX has filed a police complaint and engaged with the Indian Computer Emergency Response Team. The company also said it was "collaborating with forensic experts and law enforcement agencies to identify and apprehend the perpetrators." Crypto exchange WazirX has filed a police complaint after it suffered a $230 million hack...

WazirX Files Police Complaint After $230M Hack, Engages With India's Cyber Crimes Unit

Illinois State

MOD Pizza has over 500 locations across the country with 22 restaurants in Illinois. The Washington-based chain offers fast-casual fare known for its customized, artisan-style pizzas. Customers can choose from over 40 toppings and 8 sauces to create their own masterpiece.

Bankruptcy Looms for Major Pizza Chain With Chicago Suburban Locations

NewsBreak

U.S. Treasury Issues Crypto Tax Regime for 2025; SEC Sues Consensys Over MetaMask Service

The US. Treasury Department issues a crypto tax regime and the SEC sus consensus over its metamask service. You're watching Coin Desk daily, I'm your host,...

U.S. Treasury Issues Crypto Tax Regime for 2025; SEC Sues Consensys Over MetaMask Service

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