The Crypto Compass Issue #79

Hello readers,

This week has been marked by dramatic events in the cryptocurrency world. Former President Donald Trump survived an assassination attempt during a rally in Pennsylvania, yet remains undeterred and committed to attending an upcoming Bitcoin conference in Nashville. His determination to participate underscores the growing political and social significance of cryptocurrency, even amid personal and national challenges. As Trump prepares to deliver his speech at one of the most anticipated crypto events, the community rallies around themes of resilience and innovation.

Trump to Speak at Bitcoin Conference Despite Assassination Attempt

Former President Donald Trump has confirmed his attendance and will deliver a speech at an upcoming Bitcoin conference in Nashville, despite surviving an assassination attempt in Pennsylvania. The Bitcoin Conference, a major crypto event, will take place in less than two weeks with heightened security measures. The announcement reassures attendees following the recent incident, where Trump was rushed off stage by Secret Service after a gunman fired shots at a rally. Event organizers are expecting around 20,000 attendees, and Trump's team has stated he is in good spirits and eager to participate.

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CFTC Chair Reaffirms Bitcoin and Ether as Commodities, Seeks Oversight

CFTC Chair Rostin Behnam has reiterated his stance that Bitcoin and Ether are commodities and that his agency should oversee them. Speaking before the US Senate Committee on Agriculture, Nutrition, and Forestry, Behnam cited a recent Illinois court ruling and a 2022 Financial Stability Oversight Council report to support his argument. He emphasized the need for federal legislation to establish a regulatory framework for digital commodities, outlining five key legislative priorities, including tailored rules for cryptocurrencies and enhanced KYC and AML measures.

Coinbase Launches Web App for Comprehensive Crypto Management

Coinbase has launched a new web app aimed at providing users with a unified platform to view and manage their entire crypto exposure, including tokens, NFTs, and DeFi positions. The app allows users to connect multiple wallets, offering a "one-stop destination" to explore, manage, and interact with on-chain assets. Following feedback from users of its smart wallet, Coinbase aims to make on-chain portfolio management easy for its 100 million users. The platform is designed to facilitate basic financial activities and provide insights into on-chain happenings.

Happenings of the week

• Bitcoin whales snapped up $4.3B of BTC amid price slump

• MakerDAO's $1B Tokenized Treasury Investment Plan Draws Interest from BlackRock's BUIDL, Ondo, Superstate

• DEX Aggregator Rage Trade to Issue Token on Buzzy New Layer 1 Blockchain Hyperliquid

• SEC drops investigation of Bitcoin Stacks developer Hiro — Filing

SEC Reportedly Nears Approval for Spot Ether ETFs, Trading Expected Next Week

The U.S. Securities and Exchange Commission (SEC) has reportedly given preliminary approval to three asset managers — BlackRock, Franklin Templeton, and VanEck — for their spot Ether exchange-traded funds (ETFs), with trading potentially beginning as early as next Tuesday. Other firms, including Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy, are also preparing to launch their Ether ETFs simultaneously. Final offering documents must be submitted to the SEC by the end of this week, and official approval is expected next Monday. Analysts anticipate significant inflows, potentially mirroring the success of spot Bitcoin ETFs.

Stay tuned for more updates next week! If you haven't yet, hit that subscribe button to ensure you never miss an issue. Found value in this edition? Please consider sharing it with your friends, colleagues, and fellow crypto enthusiasts. Together, let's navigate the world of crypto with clarity and insight!