TL;DR

• The Federal Reserve Chairman reiterated that custody assets shouldn't be included on the balance sheet.

• Bloomberg’s Senior ETF Analyst predicts Solana ETF approval by mid-March 2025 at the latest.

• The leader of the US Democratic Party has challenged Biden and his team to prove their electability.

• Sanctum will open CLOUD airdrop collection on July 18.

• Trump is set to speak at the 2024 Bitcoin Conference.

• Nansen reported that Coinbase Ventures acquired $2.7 million worth of AERO tokens.

• U.S. commodity regulators are urging swift action on cryptocurrency regulation.

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Alpha of the Day

Fed Chairman’s Custody Conundrum

In a move that could only be described as “duh,” the Federal Reserve Chairman reiterated that custody assets shouldn't make an appearance on the balance sheet. You know, just your typical reminder that banks can't count your stored crypto as their own pocket money. This statement reinforces the clear separation between your assets and the banks' funds, ensuring that when you store your digital gold, it's still yours. The Fed Chair’s repeat message might seem like an over-explained meme, but hey, some people still need reminding not to mix their personal and professional assets – like that one friend who always borrows your clothes and then claims they bought them.

Solana ETF: Coming to a Portfolio Near You

According to Bloomberg’s Senior ETF Analyst, the Solana ETF might get the green light by mid-March 2025. Mark your calendars, folks, because it looks like we'll finally see the cool, collected Solana strut its stuff on the ETF catwalk. This prediction has Solana fans buzzing like they've just found out their favorite band is getting back together. By 2025, we could be watching Solana climb the investment charts, giving Bitcoin and Ethereum a run for their money. Just imagine the FOMO tweets now: “I told you Solana was the next big thing!”

Biden’s Electability Challenge

The leader of the US Democratic Party is basically channeling their inner Simon Cowell, challenging Biden and his crew to prove they’ve got what it takes to win. It's like political "America's Got Talent," and Biden’s team needs to show they’re more than just a one-hit wonder. With the 2024 elections creeping up faster than your phone's battery draining during a binge-watch, the Democrats need to pull out all the stops. So, expect Biden’s team to start campaigning like it’s the final showdown, complete with dramatic speeches and maybe even a few TikTok dances to woo the younger voters.

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Sanctum’s CLOUD Airdrop is Coming

Sanctum will open the CLOUD airdrop collection on July 18, and crypto enthusiasts are getting ready to catch these tokens like they’re the latest Pokémon. It’s the digital equivalent of a candy rain, and everyone wants a taste. If you’ve been following Sanctum, you know they’re all about making it rain (in the virtual sense), and this airdrop is no exception. Mark the date and get your digital wallets ready because this airdrop promises to be as exciting as waiting for the next season of your favorite show.

Trump to Headline Bitcoin Conference

Hold onto your digital hats because Trump is set to speak at the 2024 Bitcoin Conference. Whether you love him or loathe him, there’s no denying that Trump knows how to draw a crowd. Crypto fans are curious about what he’ll say – will he praise Bitcoin as the future of finance or bash it as fake internet money? Either way, expect his speech to be a rollercoaster of soundbites perfect for meme material. This event could be bigger than his last Twitter comeback, so stock up on popcorn and get ready for the show.

Coinbase Ventures Bets Big on AERO

Nansen reported that Coinbase Ventures just splurged $2.7 million on AERO tokens, making it rain in the crypto playground. It's like that moment in Monopoly when someone buys Boardwalk and you know things are about to get serious. AERO must be doing something right to catch Coinbase’s eye – maybe it’s the crypto equivalent of avocado toast, trendy and potentially game-changing. Keep an eye on this one, because if Coinbase is investing, it might be time to start paying attention.

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Regulators Want Crypto Action Now

U.S. commodity regulators are practically shouting, “Hurry up already!” when it comes to crypto regulation. They’re like that impatient friend who’s always tapping their foot and checking the time. With the crypto world evolving faster than you can say “blockchain,” these regulators want rules in place before things get too wild. So, expect some serious regulatory moves soon, hopefully ones that won’t kill the vibe but will keep the crypto party safe and legal.

Bitcoin’s Hash Rate Hits a Snag

A former Bloomberg Intelligence analyst pointed out that Bitcoin’s hash rate is on the decline. This isn’t exactly “end of the world” news, but it’s definitely got people talking. Think of it as Bitcoin’s version of having a slow Wi-Fi day – annoying but not catastrophic. The hash rate measures how much computing power is being used to mine Bitcoin, and a drop could mean less enthusiasm in the mining community. Let’s hope this is just a temporary dip and not a sign that miners are losing faith.

Bitcoin ETF Trading Volume Skyrockets

From July 4 to 10, the average trading volume of the nine largest Bitcoin ETFs spiked by a whopping 72%. It's like the crypto equivalent of hitting the gym and seeing those gains pay off big time. Investors are clearly seizing the dip, proving that Bitcoin’s allure is still strong. With trading volumes shooting up like this, it’s no wonder people are still bullish on Bitcoin. It’s a wild ride, but for those holding on, the rewards seem to be worth the thrills.

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