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• Trump Grants Full Pardon to Silk Road Founder Ross Ulbricht

• Ethereum ETF Issuers Expect Staking to Be Greenlit Soon: Joe Lubin

• Brian Armstrong Foresees Major Changes in US Stablecoin Policies

• US Asset Managers File for TRUMP, DOGE ETFs

👋 Trump Grants Full Pardon to Silk Road Founder Ross Ulbricht

US President Donald Trump granted a full pardon to Ross Ulbricht, the founder of the infamous darknet marketplace, Silk Road.

• Ulbricht spent 12 years in prison, and his supporters advocated for years for his pardon.

• The pardon was announced on Truth Social, and described Ulbricht’s sentence of 40 years plus two life terms as “ridiculous.”

• Silk Road operated using Bitcoin, and hugely contributed to early cryptocurrency adoption. However, it was later shut down because of its role in facilitating illegal transactions.

🟢 Ethereum ETF Issuers Expect Staking to Be Greenlit Soon: Joe Lubin

According to Joe Lubin, issuers are very confident that staked Ether ETFs will be approved under new SEC leadership.

• The Ethereum co-founder is very optimistic about the possible regulatory approval for staked Ether ETFs. Lubin also revealed that issuers are already working hard to address any staking complexities like slashing.

• Spot Ether ETFs were approved by the SEC last year, and nine products were launched in July.

• The SEC has not yet approved any staked Ether ETFs yet, but experts believe potential approvals may be just around the corner under new regulatory leadership.

🔮 Brian Armstrong Foresees Major Changes in US Stablecoin Policies

Brian Armstrong believes that stablecoin issuers may soon be required to fully back their dollar-pegged tokens with US Treasury bills. 

• The new US stablecoin legislation could require full backing with US Treasury bonds and periodic audits to boost stablecoin legitimacy.

• These stricter compliance measures could challenge issuers like Tether (USDT), which Armstrong suggests could potentially be unable to meet these new standards.

• He stated that Coinbase might even consider delisting USDT in the US market if Tether fails to comply with the regulations.

📜 US Asset Managers File for TRUMP, DOGE ETFs

Asset managers Osprey Funds and REX Shares want to launch exchange-traded funds (ETFs) for meme coins including DOGE, TRUMP and BONK.

• The REX-Osprey TRUMP ETF will be the first ETF to hold TRUMP, which is a meme coin that was launched by US President Donald Trump.

• The TRUMP launch started a frenzy among investors, and attracted so much activity to Solana that the network suffered bouts of congestion for days.

• Moonshot reported more than 200,000 new on-chain users since the token’s launch.

👀 QUICK NEWS

• Trump Announces $500B AI Infrastructure Venture ‘Stargate’

• Circle Acquires Hashnote and Integrates USYC for Digital Assets

• Ethereum’s Vitalik Buterin Goes on Offense Amid Major Leadership Shake-Up

• Crypto Market Maker CLS Global Admits to Wash Trading on Uniswap After FBI Investigation

• The ‘Official’ Meme Coin of Cuba Turned Out to Be a Scam

MEME OF THE DAY

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