🐶📰Weekend Update

BTC $64,180 (+5.1%) | ETH $2,770 (+4.0%) | SOL $158 (+9.3%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• Crypto rallied as Jerome Powell signaled that it’s time to cut rates at the Jackson Hole conference on Friday

• Magic Eden announced their $ME token which will be claimable in the Magic Eden wallet

• Binance founder CZ was moved to a halfway house to serve the remaining month of his sentence

• Mt. Gox moved another $780M worth of Bitcoin bringing their remaining holdings down to $2B

Institutional Capital

• Grayscale launched an Avalanche trust for accredited investors

• Crypto companies and investors spent $119M on government lobbying led by Coinbase and Ripple

• Bitcoin ETFs have posted 7 straight days net inflows while Ethereum ETFs saw daily net outflows

• Story raised $140M led by VC giant A16Z to develop an IP focused L1 blockchain

PoliFi

• The U.S. Democratic party released their official campaign platform with no mention of crypto

• A campaign official revealed Kamala Harris plans to support the crypto industry’s expansion

• Donald Trump shared a telegram link on Truth Social for “The DeFiant Ones” family crypto project

• Trump retook the lead over Harris in the PolyMarket election market

Odds and Ends

• The memecoin launchpad meta started as SunPump launched on Tron and Four.meme launched on the Binance smart chain

• CryptoPunks floor has climbed to 28.5 ETH with over $5M in trading volume this week

• A Judge ruled that the lawsuit against Shaquille O’Neal over his Astrals NFT project can proceed

• Drift released their “BET” prediction market platform on Solana