The Morning Minute (7.24) ⏰Top News: -Crypto majors chopping; BTC leads at $118,650 -Crypto Working Group to deliver report of recommendations on July 30 -US Senate releases draft of crypto market structure bill -KeyBank becomes latest bank to offer spot crypto custody and trading -PUMP token falls to $3B after Alon stream; BONK to buyback its memes with 1% of revenue 🌎 Macro Crypto and Memes -Crypto majors were mixed with BTC leading; BTC even at $118,600, ETH -1% at $3,650, XRP -8% at $3.16, SOL -6% at $186 -IP (+7%), CFX (+4%) and BONK (+4%) led top movers -The ETH ETFs saw another $330M in net inflows on their 1-year anniversary since launch (7th best day) -Bo Hines teased that the President’s Working Group on Digital Assets has completed their 180-day report (expected to have Strategic Reserve details) and will share it on July 30 -The US Senate released its draft crypto market structure bill, which would shift oversight of certain tokens to the CFTC, allow up to $75M/year in ICO fundraising, and modernize securities laws for digital assets -KeyBank to become the latest banking giant to offer spot crypto custody and trading services -84% of GPs/LPs are now expressing optimism toward crypto, with 85% planning investments this year, driven by stronger regulatory clarity -Square initiated a rollout of Bitcoin Lightning payments for merchants, targeting full availability by 2026 -Fidelity updated its spot Bitcoin ETF filing to allow in-kind creations and redemptions, meaning institutions can now settle using Bitcoin itself rather than U.S. dollars In Corporate Treasuries -MARA (2nd largest BTC holder) is set to raise $850M to buy more Bitcoin via a convertible offering -Tesla’s Bitcoin holdings are now valued at ~$1.2B after this latest rally (and not selling any) -MEI Pharma raised $100M to start a LTC treasury -HYLQ announced an $8M private placement to raise funds to buy HYPE In Memes -Memecoin leaders were mostly red, led by BONK; DOGE -6%, Shiba -7%, PEPE -7%, BONK +5%, PENGU -9% , TRUMP -7%, SPX -6%, and FARTCOIN -13% -REKT hit a new ATH at $348M, now up a whopping 64% on the week -MORI (+45% to $100M) and DARWIN (+200% to $14M) led Solana movers 💰 Token, Airdrop & Protocol Tracker -Pump founder Alon went on stream and said the PUMP airdrop will happen but not for the foreseeable future, leading to a sell off to $3B fdv (25% below ICO) -Bonk announced 1% of all BonkFun total revenue will go to buying back top memes in the Bonk eco -Magic Eden teased new Runes swaps functionality and deeper liquidity -Pixel Vault announced it’s winding down operations 🤖 AI x Crypto -Overall market cap down 8% at $11.2B, leaders were mostly red -FARTCOIN (-13%), VIRTUAL (-13%), ai16z (-19%), FAI (-4%) & AIXBT (-12%) -SIMMI (+40%), LIMBO (+20%) and BNKR (+11%) led top movers -RektAI led all agents in mindshare 🚚 What is happening in NFTs? -ETH NFT leaders were mostly even; Punks +2% at 48.8 ETH, Pudgy -2% at 16, BAYC +1% at 12.6 ETH -Pirate Nation (+28%) led notable movers -Bitcoin NFTs were mostly even, led by OCM Genesis (+40%) -Abstract NFTs were very green led by Gigaverse (+20%) and Bearish (+8%) -Murakami announced new collectible cards launching on Base

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