Cardano Rumor Rundown July 20, 2023

Hey Everyone!

Let’s go….

Newly Covered Today:

1. There is a vote in Catalyst right now on the future of Catalyst and who will run it. This is one that probably deserves all of our attention. Haven’t read any proposals yet. But, it would be hard to get me to vote against IOG running Catalyst. https://twitter.com/Padierfind/status/1681584237256884224
2. This probably sums it all up. https://twitter.com/spudiot1/status/1681615055677440001
3. MuesliSwap is launching an options protocol! https://twitter.com/MuesliSwapTeam/status/1681783751372681216
4. Now the Senate is getting around to sanctions control and AML in DeFi. Shocker…it’s very bad for DeFi with severe liability possibly imputed to broadly defined “backers” and “facilitators” of protocols. This won’t happen overnight. But, it could be the start of something possibly lethal for US participation in DeFi. https://twitter.com/BillHughesDC/status/1681729154360721410
5. Wow. Strange bedfellows on this proposed crypto AML amendment to a must pass bill. Note the remark that odds are against any single amendment like this actually being included. https://twitter.com/BillHughesDC/status/1681676117671903233
6. Judge Torres hasn’t taken much heat for the Torres Doctrine. Some are chalking this up to her Dem bona fides. https://twitter.com/MetaLawMan/status/1681429238191394817
7. As much as I don’t care for TVL as a metric, it’s beautiful to see this progress. https://twitter.com/cardano_whale/status/1681567936018886657
8. It seems like there’s always a back story on these vehement crypto critics. https://twitter.com/ArmySpies/status/1681762939660034048
9. Senator Kennedy on SBF to Gensler: “prides himself on looking like the 4th runner-up in a John Belushi look-alike contest...underdressed and overhaired…you could’ve sent one investigator…” https://twitter.com/NerdNationUnbox/status/1681758427301683206
10. RFK, JR. is saying he would begin to back USD with real finite resources like gold, platinum, and Bitcoin. https://twitter.com/DocumentingBTC/status/1681495312702005251

Previously covered, but still interesting:

1. Brave browser now supports the Lace wallet. https://twitter.com/IOHK_Charles/status/1668606735353880577
2. Wow! Was not expecting this! https://twitter.com/ReachMetaverse/status/1668767553219436546
3. New footage has surfaced of Gensler explicitly saying Bitcoin, Ether, Litecoin, and Bitcoin Cash are not securities back in 2018. Obviously, this was before Ethereum’s move to proof-of-stake. https://twitter.com/twobitidiot/status/1668328519334780928
4. The largest bank in Australia is limiting transfers to crypto exchanges. https://www.commbank.com.au/support/security/cryptocurrency-payments.html
5. House Committee on Financial Services had another crypto hearing today. https://www.youtube.com/watch?v=Sq4-6dJRfPs
6. Good things happening with Cardano TVL. I hate TVL as a metric. But, since it exists…https://twitter.com/SoorajKSaju/status/1668701927066968068
7. Gensler got a community note on his crypto law analysis. https://twitter.com/GaryGensler/status/1668272427074199567
8. During the House Hearing, Rep. Flood basically humiliated the anti-crypto-legislation witness (from Prometheum) with a very conflicting previous comment letter from the witness’s firm and by pointing out the shortcomings of the current SEC registration path. https://twitter.com/AlexanderGrieve/status/1668764481252478979
9. People are digging up some sketchy details around Prometheum. https://twitter.com/adamscochran/status/1669112621566492677
10. Rep. Davidson is really going after this whole “#firegensler” SEC restructuring bill proposal. https://twitter.com/WarrenDavidson/status/1669021733725126657
11. We are now in a Fed Pause. But, the median projection for a terminal rate is 5.6% (higher than the current 5-5.25%...so more hikes predicted). Here’s the press conference. https://www.youtube.com/watch?v=WjXa3vA9s_o
12. Watch out for this sophisticated crypto scam. https://twitter.com/JacobCanfield/status/1668762812213067776
13. SEC v. Coinbase has been reassigned to a new Judge! https://twitter.com/nikhileshde/status/1669133361149771777
14. While the current administration is putting all its energy into de-banking crypto, China is pressuring banks to take on crypto customers. https://twitter.com/malekanoms/status/1669332724987879424
15. Enter Blackrock’s Spot Bitcoin ETF. Coinbase is slated to handle custody. This is the actual filing in EDGAR. https://www.sec.gov/Archives/edgar/data/1980994/000143774923017574/bit20230608_s1.htm#summaryfin
16. Who’s in the graveyard now? https://twitter.com/StakeWithPride/status/1669467693643341824
17. The Blockchain Association sent a FOIA request on the SEC’s dealings with Prometheum (entity of the pro-SEC witness in the recent House hearing). https://twitter.com/jchervinsky/status/1669359087858126852
18. Like many of us have predicted for a long time, the regulators dismantle just for the TradFi players to swoop in, pick up the pieces, and take over the space. https://twitter.com/AP_Abacus/status/1670455968608538624
19. Here’s a little progress report from a long awaited Cardano project. https://twitter.com/axotrade/status/1670563008446337024
20. Fidelity currently has a career landing page specifically for crypto jobs at Fidelity. https://jobs.fidelity.com/crypto/
21. Reports that SBF may be doing a lot of talking with the Feds right now. https://twitter.com/WhaleChart/status/1670412687287676932
22. Binance says the SEC has not yet presented any evidence that they misused customer funds. https://twitter.com/BinanceUS/status/1670077275419869186
23. Rumor: Party donors unhappy with Yellen and Gensler. White House mulling removal approaching election. https://twitter.com/adamscochran/status/1670566635218915328
24. There are also individual rumors about Gensler being replaced. https://twitter.com/WhaleChart/status/1670141859891388419
25. Cardano Node 8.1.1 is out. https://github.com/input-output-hk/cardano-node/releases/tag/8.1.1
26. People discuss the Cardano genesis keys. https://twitter.com/amw7/status/1670857990037970945
27. For comparison, Bitcoin only had five core maintainers with Github commit access as recently as February 2023. https://crypto.news/bitcoin-core-has-only-5-developers-left-as-key-maintainer-departs
28. I think this is a race we are already winning among top blockchains. https://www.coindesk.com/policy/2023/06/19/hinman-documents-release-in-sec-ripple-case-is-a-boost-to-ether-jpmorgan/
29. Powell: “Inflation has not really moved down…so we’re gonna have to keep at it.” https://twitter.com/unusual_whales/status/1670793807825350656
30. Interesting reports that Hinman’s son was involved in an Ethereum startup. https://twitter.com/Leerzeit/status/1670869495039000602
31. Now the IMF wants to issue a cross-border CBDC. https://www.coindesk.com/policy/2023/06/19/imf-official-presents-blueprint-for-cross-border-cbdcs/
32. Apparently some people in ETH are willing to see more dramatic slashing events. https://twitter.com/StakeWithPride/status/1670925629305520130
33. Behold the swoopening! Now they pick up the pieces. https://twitter.com/PrestonPysh/status/1671153596547874820
34. Ahhhhh...me feels. This one got me. Recollections of a metaverse summit on a sea turtle’s back. https://twitter.com/IOHK_Charles/status/1671300097353678853
35. Invesco and WisdomTree also enter the arena. https://twitter.com/AP_Abacus/status/1671332645156814854
36. A good visual depiction of the Blackrock BTC product. https://twitter.com/OnrampBitcoin/status/1671228757158264853
37. A good point about what we may experience. https://twitter.com/cardano_whale/status/1671364910163587072
38. If anything in this unlisted video is even remotely true, it only confirms what most of crypto thinks about Blackrock. https://www.youtube.com/watch?v=tgONwXR1Uwo
39. Looks like Blackrock is adding to their crypto bench just like Fidelity. https://twitter.com/TheOCcryptobro/status/1671310779629584384
40. McHenry reiterated again today in the House Financial Services Committee hearing (otherwise featuring Jerome Powell) that they intend to have markups of the Digital Asset Market Structure Bill & a stablecoin bill in the second week of July when they return from holiday. https://www.youtube.com/live/_pJFaKJKYgA?feature=share&t=60
41. Powell says stablecoins are money. https://www.youtube.com/live/_pJFaKJKYgA?feature=share&t=1556
42. Davidson was able to get Powell to agree that the $1.1 trillion asset class of crypto does appear to have some staying power. https://www.youtube.com/live/Mxqfoij6rp8?feature=share&t=11009
43. The assets to be traded on the TradFi EDX exchange are predictable. https://twitter.com/MetaLawMan/status/1671529458858094597
44. The catchy song about crypto regulation makes the important point. https://twitter.com/songadaymann/status/1669445961691611138
45. Like it or not, this is an important moment in time for Cardano’s future role in TradFi crypto. https://twitter.com/cardano_whale/status/1671798040083197952
46. We need the future to include Cardano just as prominently as you see it here. https://twitter.com/cardano_whale/status/1671796995953160194
47. The heat is really getting turned up on Gensler. https://twitter.com/FinancialCmte/status/1671897233371930626
48. Yep. Charles knew. https://twitter.com/IOHK_Charles/status/1672012529021734918
49. SEC General Counsel is getting called out for massively dragging its feet on providing documents related to Sam Bankman-Fried to Congress. https://twitter.com/FinancialCmte/status/1671879033657892866
50. We’re now in that part of the cycle where everyone sues everyone else, and this time they’re tokenizing the suits. https://twitter.com/CoinDesk/status/1671994608694317058
51. Never forget what they told you during the last bull market. https://twitter.com/StakeWithPride/status/1672015768060588033
52. A little reminder of why the Cardano Community is so special. https://twitter.com/JaromirTesar/status/1673021546556710913
53. More questions are asked about the path taken by Meld. https://twitter.com/DeansEpoch/status/1673038634843340815
54. Catalyst Fund 10 is in full swing! https://twitter.com/danny_cryptofay/status/1672516223366492161
55. Apparently, Larry Fink & Blackrock are retiring use of the term “ESG” because of the backlash. https://www.axios.com/2023/06/26/larry-fink-ashamed-esg-weaponized-desantis
56. Here are the Heritage Foundation’s economic freedom rankings. https://www.heritage.org/index
57. Vodafone surprised everyone (except NMKR) by revealing it’s interest in Cardano. https://twitter.com/vodafoneservice/status/1673651108592381953
58. NMKR eventually revealed its hand in the Vodafone onboarding. https://twitter.com/Padierfind/status/1673664856988217346
59. Wow. Do we have a presidential candidate talking about an inviolable right to use a cryptocurrency?!? https://twitter.com/RobertKennedyJr/status/1673812201457479681
60. Apparently the secret to crypto SEC compliance all along was just writing “N/A”. https://twitter.com/laurashin/status/1673684808893964293
61. Very interesting predictions on the staking yield of Cardano’s biggest competitor. https://www.dlnews.com/articles/defi/as-ether-staking-yields-fall-protocols-need-to-get-creative/
62. Here’s a new clip on the Pavia Playground. https://twitter.com/Pavia_io/status/1673683934754865152
63. The Pavia Playground has launched. It’s a PC download. https://twitter.com/Pavia_io/status/1674347661766303746
64. Your boy Vitalik only stakes “a fairly small portion” of his own Ethereum. He mentions “safety” and “it gets complicated in a bunch of ways.” People are vastly underestimating the advantages of Cardano staking over the competition. https://twitter.com/StakeWithPride/status/1674439555620159489
65. The Coinbase answer to the SEC complaint has been filed. https://assets.ctfassets.net/c5bd0wqjc7v0/4oVJN5EioULD0QnSyg01b8/2b1f34594a800c727fb61a384f37e74a/SEC_v._Coinbase__Coinbase_Answer_to_Complaint__As-Filed_.pdf
66. Looks like Coinbase has scheduled a Major Questions vs. Chevron Doctrine rodeo for us by asking for leave to request a ruling just on the SEC’s complaint. Very smart move to create a path to early victory or early appeal. https://twitter.com/BillHughesDC/status/1674445649855541250
67. Some very serious questions are being asked about how smart contracts work on Solana. The more I learn about things like this, the happier I am to be in Cardano. https://twitter.com/lex_node/status/1674348070287335424
68. ETH insiders now trying to normalize “maybe decentralization doesn’t matter.” https://twitter.com/ChrisBlec/status/1675127714393518083
69. Epoch Lacrosse is using Cardano for an NFT-based authenticity assurance system for their 2023 Lacrosse World Championship jerseys. https://twitter.com/JeremyFirsterCF/status/1675227536203350016
70. The SEC is telling NASDAQ and the CBOE that the Bitcoin ETF filings from the likes of Blackrock and Fidelity are inadequate. https://www.wsj.com/articles/sec-says-spot-bitcoin-etf-filings-are-inadequate-390336e8
71. Not surprisingly, within 24 hours of the news of the ETF filing inadequacies there are rumors of Gary Gensler resigning due to an internal investigation. https://www.thecryptoalert.com/post/sec-sources-confirm-gary-gensler-resignation
72. Seems like recusal from crypto enforcement decisions could be a plausible result if people buy into the very logical assertions here. https://twitter.com/jchervinsky/status/1674464911714398229
73. Even the former SEC chair thinks the current SEC approach is ridiculous! https://twitter.com/StreetTraderJPP/status/1674137673718550549
74. Here’s a long and very detailed thread on Ouroboros Genesis. https://twitter.com/MHiesboeck/status/1675770878989049856
75. Fingers crossed for no hurricanes if the insurance companies are all FUBAR at these interest rates due to their bond purchases. Actually, all different types of institutions affected by this. So cross all fingers. https://twitter.com/balajis/status/1675990926165168128
76. Slovakia is enacting some common sense crypto tax laws. Everyone should follow suit. https://twitter.com/uPeterKris/status/1675408386060345344
77. This feels like sponsored self-destruction. https://twitter.com/StakeWithPride/status/1676619103438782464
78. Larry Fink, BlackRock CEO, says the role of crypto is digitizing gold. https://twitter.com/i/status/1676687973104885763
79. Terrible bill amendment offered by Rep. Brad Sherman. He is unbelievably anti-crypto. https://twitter.com/BillHughesDC/status/1676583526651535361
80. Meredith Whittaker is setting people straight on encryption backdoors. https://twitter.com/Channel4News/status/1675922360237694978
81. Apparently, there was a two pools, one household scenario we didn’t know about. https://twitter.com/Cinnamon__Bunnn/status/1676737853173137408
82. Response from one of the spouses. https://twitter.com/LeadTimeNull/status/1676986004433952768
83. Here’s the Pavia June Dev Update. https://twitter.com/Pavia_io/status/1676957233605918720
84. The Clay Nation Ledger devices are being advertised. No matter what you currently think of Ledger, this is big exposure for a Cardano project. https://twitter.com/Ledger/status/1676994116461133828
85. Things may not be going well for Binance with the DoJ. https://twitter.com/tier10k/status/1677060315438100483
86. Wut? https://twitter.com/tier10k/status/1677079136488046597
87. SEC v. Coinbase Pre-Trial Hearing Transcript and relevance to Cardano. https://twitter.com/ArmySpies/status/1680732338765066242
88. Interesting prediction from a former SEC attorney regarding the window for the SEC to ask permission to file an interlocutory appeal of the summary judgment in Ripple. https://twitter.com/TuongvyLe12/status/1680622625268088835
89. This visualization of Cardano TVL leaping up the ranks is amazing. https://twitter.com/jotapippo/status/1678139372393099265
90. Good job Minswap Dao! https://twitter.com/intel_honesty/status/1678355320106516486
91. SEC v. Coinbase pre-trial hearing transcript. https://assets.ctfassets.net/c5bd0wqjc7v0/46XloV2v8raTCNRhg8XTKZ/2a13c4bec44230bc8ae30ab37c01722e/Premotion_Conference_Tr.__7.13.23_.pdf
92. Once again, great job forcing functionality offshore. https://twitter.com/jpgstoreNFT/status/1678464147128823808
93. The Fed’s Dot Plot has been hilariously inaccurate. https://twitter.com/balajis/status/1678568474728370176
94. DeFi enforcement actions incoming. https://twitter.com/ATDrummond/status/1677283072323076097
95. New Gillibrand-Lummis Bill. https://twitter.com/MetaLawMan/status/1679195219567181824
96. The Edinburgh CIP-1694 workshop begins. https://twitter.com/IOHK_Charles/status/1679010944029020165
97. The website has launched for Intersect, Cardano’s Member-Based Organization (MBO). https://www.intersectmbo.org/
98. World Mobile has licensed spectrum in the US. https://twitter.com/WorldMobileTeam/status/1679476046112911362
99. Apparently, ETH has too many validators. https://twitter.com/StakeWithPride/status/1680956373323104256
100. Why the SEC may not want to appeal the Ripple decision. https://twitter.com/BillHughesDC/status/1680962427410685955
101. Now we’re going to get a California BitLicense? Great…great. https://twitter.com/BillHughesDC/status/1681395245823533066
102. Rep. Ritchie Torres writes a scathing letter to Gensler in the wake of the Ripple Decision. He also coins a new label for the thinking behind the decision: “the Torres Doctrine”. https://twitter.com/RepRitchie/status/1681316449464508416
103. Oh how the tide has turned. That moment when you realize you are on the wrong side of history. https://twitter.com/JoeConsorti/status/1681327086705819649

~Army of Spies