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Crypto market maker Wintermute Trading is currently engaged in discussions to conduct a new fundraising round. The company aims to sell shares worth $100 million, with a portion of the funds allocated to existing shareholders, The Information reported, citing people familiar with the matter. Furthermore, Wintermute intends to issue new shares, although the precise quantity is yet to be determined. The sources said that negotiations are underway, and specific details have not been finalized.

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In the decade since Ethereum co-founder Gavin Wood first coined the term “web3,” we’ve seen the promise of a new digital empire rise into reality. Cryptocurrency has become a trillion-dollar mainstain of the global economy; NFTs have entrenched themselves in high-stakes art and investment trades; blockchain-based financial services have transitioned from novelty to normal.

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https://warpcast.com/smartarena/0x03876000

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Anti-Crypto Senator Bob Menendez Convicted of Accepting Bribes 😆 😆 😆 U.S. Senator Bob Menendez (Dem), known for his vocal criticism of crypto, has been found guilty of accepting bribes in exchange for leveraging his political influence. On Tuesday, a jury convicted Menendez of all charges including 16 counts tied to a scheme where he accepted bribes, including gold bars and a Mercedes-Benz, in exchange for helping foreign governments. Menendez, formerly the head of the powerful Senate Foreign Relations Committee, now faces the prospect of decades in prison. Crypto Community Highlights the “Irony” Following the conviction, crypto veterans took to X to mention the irony, highlighting the contrast between Menendez’s stance on crypto and his own criminal activities. The case drew attention due to the Senator’s previous statements labeling Bitcoin as an “ideal choice for criminals.”

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Invesco and Galaxy Lower Ether ETF Fees to 0.25% Amid Competitive Market Invesco and Galaxy Digital Asset Management have announced a 0.25% management fee for their upcoming Invesco Galaxy Ethereum ETF (QETH). This rate, revealed in a revised notice to U.S. regulators on July 9, positions the ETF slightly higher than its direct competitors that are also preparing for the launch of spot Ether funds. Respectively, VanEck and Franklin Templeton have set their management fees for similar Ethereum ETFs at 0.20% and 0.19%. This strategic pricing is important given the competition among ETF sponsors as they anticipate the approval and listing of spot Ether ETFs in the US. In contrast to higher fees charged by existing Ethereum investment vehicles like Grayscale’s Ethereum Trust (ETHE) launched in 2017, the proposed fee for Invesco’s ETF is lower. New ETFs with reduced fees, such as QETH, are expected to broaden Ethereum’s market appeal and increase demand for the digital asset.

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Ethereum plans to launch its inaugural “Attackathon,” offering a $2 million reward pool to encourage security researchers to conduct a large-scale crowdsourced security audit of its codebase. The Ethereum Protocol Security (EPS) research team announced the event in a blog post on July 8. The “Attackathon” will last four weeks, during which participants will actively search for flaws in Ethereum’s protocol code. Only impactful and rule-compliant reports will receive rewards.

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Crypto asset manager Grayscale Investments announced updated component weightings of crypto assets in its key funds based on the second quarter 2024 reviews. The key funds are Grayscale Digital Large Cap Fund (GDLC), Grayscale DeFi Fund (DEFG), and Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund). It has removed Polygon (MATIC) from GSCPxE Fund as part of rebalancing.

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The Ethereum price has experienced significant volatility recently, rebounding from a low of $2,800 to the current critical level of $3,000. This recovery, marked by a +3% increase in the past 24 hours, comes amid broader market fluctuations and an 11% decline over the past week. With the crypto community closely monitoring the market, the key question is: What lies ahead for Ethereum?

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A Financial Times report suggests that a victory for Donald Trump in the U.S. presidential election could spark a Bitcoin rally in late 2024. The report cited Trump’s public support for the crypto industry and engagement with the technology as potential catalysts for a Bitcoin surge if he wins. Some crypto investors are backing the former president’s re-election campaign, aligning with his pro-crypto stance. Trump has even dubbed himself the “crypto president” and pledged to support the digital asset industry if re-elected. He claims his election would usher in a new era of crypto in finance.

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