TL;DR

• MakerDAO is preparing to launch upgraded versions of DAI and MKR, named NST and NGT.

• U.S. Vice President Harris has officially accepted the nomination as the Democratic presidential candidate.

• JPMorgan Chase estimates that Bitcoin mining opportunities are valued at approximately $74 billion.

• Chinese police have extradited a suspect from Thailand involved in a significant economic crime related to the issuance of virtual digital currency, with the amount involved exceeding 100 billion yuan.

• Dune data reveals that the top 10 crypto venture funds have negative compound cumulative returns on their portfolios this year.

• Sony Group is partnering to launch the Ethereum Layer 2 network, Soneium.

• The founder of Jupiter has returned most of the funds to the DAO due to disappointing operational results on Reddit.

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Alpha of the Day

MakerDAO's New DAI and MKR Upgrades: Enter NST and NGT

MakerDAO is about to give its DAI and MKR tokens a shiny new makeover, introducing NST and NGT. It’s like when your favorite TV show gets a spinoff series—familiar yet refreshingly different. These upgrades are set to bring even more stability and governance options to the DeFi world. But let's be real: everyone’s just waiting to see what cool new tricks these tokens can pull off. Will they be the superheroes we need, or just another remix of the same old jam? Stay tuned!

Harris Grabs the Spotlight as Democratic Presidential Candidate

U.S. Vice President Harris has officially thrown her hat into the ring for the Democratic presidential nomination, and it’s all systems go. Think of it as the political equivalent of getting the last piece of pizza—everyone’s watching, and there’s no room for mistakes. Harris is now set to take center stage, with all eyes on how she’ll steer the ship. The road to the White House is long, winding, and filled with memes, so let’s see how she plans to navigate it all.

Bitcoin Mining: JPMorgan Chase’s $74 Billion Golden Ticket

JPMorgan Chase has crunched the numbers and concluded that Bitcoin mining is the next big cash cow, with opportunities valued at a whopping $74 billion. That’s right, folks—mining digital gold could be worth more than striking oil! It’s like finding out your old comic book collection is suddenly worth millions. So, if you’re thinking about getting into the mining game, now might be the time to dust off those rigs and get digging.

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Thai Extradition: China Nabs Big-Time Virtual Currency Crime Suspect

In a real-life drama that could rival any crime thriller, Chinese police have successfully extradited a suspect from Thailand involved in a massive economic crime involving virtual currency. The amount at stake? Over 100 billion yuan. That’s enough to make even the most seasoned criminal sweat. The authorities are cracking down hard, and this case is sure to send shivers down the spines of those dabbling in shady digital dealings.

Crypto Venture Funds: Top 10 Players Are Having a Bad Year

According to Dune data, the top 10 crypto venture funds are not having the best year. In fact, they’re reporting negative compound cumulative returns on their portfolios. It’s like betting on a racehorse only to find out it prefers napping to running. The crypto market’s been a rollercoaster, and these funds are feeling the whiplash. So, if you thought your crypto portfolio was struggling, at least you’re in good company.

Sony and Ethereum: A Match Made in Soneium

Sony Group is diving into the Ethereum universe with plans to launch the Soneium network, an Ethereum Layer 2 solution. Think of it as Sony’s latest gadget, but instead of a PlayStation, it’s a blockchain powerhouse. The tech giant’s foray into Ethereum is sure to shake things up and possibly bring blockchain to a whole new level of mainstream coolness. Who knew the next big thing from Sony wouldn’t be a console, but a crypto network?

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Jupiter's DAO: A Reddit Fail and a Fund Return

The founder of Jupiter has made the tough call to return most of the funds to the DAO after their Reddit adventure didn’t quite go as planned. It’s like starting a band, only to realize your only fans are your mom and your dog. The DAO community is getting their funds back, but not without a few lessons learned along the way. Better luck next time, Jupiter—maybe leave Reddit to the meme lords.

FiberNetwork: CKB’s Next-Gen Lightning Network in Testing

CKB is taking the next step in blockchain evolution by releasing the light paper for FiberNetwork, their next-gen public lightning network. Testing kicks off next week, and it’s bound to get the crypto community buzzing. Picture this as CKB’s version of a software update, but instead of fixing bugs, it’s unlocking new levels of blockchain speed and efficiency. Let the testing begin, and may the blockchains be ever in your favor!

Vitalik’s Call to Courage: Visionaries Need to Take Risks

Vitalik Buterin, the brains behind Ethereum, has a message for the crypto world: everyone wants the glory of the early industry vision, but few are willing to take the risks that come with it. It’s like wanting to be an astronaut without ever leaving your backyard. Vitalik’s words are a wake-up call to all those dreamers out there—if you want to change the world, you’ve got to be ready to roll the dice.

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