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After last week's presidential debate, one crypto app is gaining significant popularity and media attention. Curious to know which one? Read on to find out.

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Markets 

Was sub-$60K a bear trap? 5 things to know in Bitcoin this week (5+ minute read)
Bitcoin begins Q3 2024 with a strong start, as bulls aim to reclaim lost ground toward all-time highs. The BTC price is showing signs of strength, maintaining $60,000 support on weekly, monthly, and quarterly timeframes. Over the weekend we saw BTC up by 4%. Despite recent dips below $60,000, these are looking like bear traps, and macroeconomic data this week will likely add to volatility.

SEC Sues Consensys Over MetaMask Staking (2 minute read)
The U.S. Securities and Exchange Commission (SEC) sued Consensys on Friday, alleging that its MetaMask wallet functioned as an unregistered broker by offering and selling securities. The suit also targets Ethereum staking services Lido (LDO) and Rocket Pool (RPL), which power MetaMask's staking feature, referring to their stETH and rETH tokens as unregistered securities.

This action underscores the SEC's broader attempt to classify various crypto market elements as securities. Following the recent surprise approval of an Ether ETF, this move confirms suspicions that the SEC may target liquid staking derivatives like stETH.

The agency has previously forced settlements with Kraken and influenced Coinbase to end staking services in certain states. MetaMask, a popular wallet for Ethereum and other blockchains, also faces scrutiny for its "Swaps" service, enabling direct in-app cryptocurrency transactions.

Vitalik Buterin backs MegaLabs in its seed raise (2 minute read)
MegaLabs, supported by prominent figures like Vitalik Buterin, raised $20 million in a seed round led by Dragonfly to develop MegaETH. Other investors include Figment Capital, Consensys CEO Joseph Lubin, and Jordan Fish (Cobie).

MegaETH promises to stream transactions at 100,000 per second with millisecond responsiveness, rivaling top Web2 apps while maintaining decentralization. Vitalik Buterin expressed excitement about the project's potential to scale Ethereum. MegaETH's testnet will launch this fall.

Misc

Gemini signs 5-year bitcoin sponsorship deal with Peter McCormack's football club (2 minute read)
Crypto exchange Gemini has signed a five-year sponsorship agreement with Real Bedford football club, co-owned by Peter McCormack, host of the "What Bitcoin Did" podcast. Paid upfront in bitcoin, the deal aims to support the club and enhance local children's opportunities, Gemini announced Monday.

This sponsorship follows a $4.5 million investment by Winklevoss Capital in April, making the Winklevoss twins co-owners alongside McCormack. The new agreement continues Gemini's sponsorship since 2022, ensuring their logo appears on jerseys and across the pitch. Real Bedford remains Gemini's only sports sponsorship.

Polymarket Sees Over $200 Million in Election Bets (3 minute read)
As the US Presidential election approaches, Polymarket, a decentralized prediction platform, is gaining mainstream attention with over $200 million wagered on the election’s outcome. In June, Polymarket hit its highest monthly volume.

Analysts at Kairos Research project the platform’s trading volume could exceed $1 billion by year-end. Polymarket’s seamless market fit and efficient blockchain technology have been widely cited by mainstream media. Despite potential regulatory challenges in the US, Polymarket's utility in various fields beyond finance is becoming evident. Currently, Polymarket shows a 63% probability of Donald Trump winning the upcoming Presidential election, with Joe Biden’s chances at 18%.

Our Recommendations:

💻️ MEXC - Where we find and trade new coins with low fees
📈 TradingView - Software we use to chart Crypto.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.

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