Odaily News U.S. presidential candidate Robert F. Kennedy Jr. said at a Bitcoin conference in Nashville that if he is elected president, in addition to building a reserve of 4 million Bitcoins, he also promised to issue an executive order to make transactions between Bitcoin and the U.S. dollar unreportable and untaxable. He also plans to make Bitcoin a qualified asset for 1031 real estate exchanges. Kennedy said his first-day executive order will instruct the Department of Justice and the U.S. Marshals to transfer about 200,000 Bitcoins currently held by the U.S. government to the Treasury Department and designate them as strategic assets. Kennedys plan includes backing U.S. debt with hard assets such as Bitcoin to stabilize the dollar and control inflation. He believes that using the scarcity and liquidity of Bitcoin, as well as gold and other hard assets, will restore the dollars dominance in global finance. He also criticized the Federal Reserves monetary policies, saying that these policies have led to wealth inequality and economic instability. He believes that backing the dollar with Bitcoin and other hard assets can hedge against inflation and enhance the value of the dollar, and also emphasizes Bitcoins role in protecting personal freedom. Kennedy is optimistic about the growing political support for Bitcoin, and his goal is to make the United States a global center for crypto innovation and investment. He also recognized former President Trumps recent verbal support for Bitcoin, and said that the growing interest of political leaders in Bitcoin is a good thing. He also revealed that Trump may announce the establishment of the Bitcoin Fort Knox plan in an upcoming conference speech and authorize the US government to purchase 1 million bitcoins as a strategic reserve asset. Kennedy expressed support for this potential move, hoping that Trumps commitment to Bitcoin will go beyond political expediency and that Trump and other political leaders can have a deeper understanding of Bitcoins potential in protecting the US financial system and guarding against cyber threats. (CryptoSlate)

Odaily News According to Trader T monitoring, the US Bitcoin spot ETF had a net inflow of US$52 million yesterday (excluding Valkyrie BRRR data), and the AUM reached US$61.7 billion.

Odaily News Grayscales official data shows that as of July 26, Grayscale GBTC held 270,589.0596 BTC, with an asset management scale (non-GAAP) of US$18,403,838,889.58 and 305,040,100 shares in circulation; Grayscale ETHE held 2,280,661.2721 ETH, with an asset management scale (non-GAAP) of US$7,465,607,834.66 and 269,088,500 shares in circulation; Grayscale ETH held 328,909.1157 ETH, with an asset management scale (non-GAAP) of US$1,076,664,255.80 and 349,048,500 shares in circulation.

Odaily News U.S. Senator Cynthia Lummis spoke at the 2024 Bitcoin Conference in Nashville with Senator Tim Scott, but did not mention the draft legislation to use Bitcoin as a strategic reserve. Lummis criticized the U.S. SEC for regulating the crypto industry through enforcement actions rather than the rule of law, and then shifted her attention to government control over currency and promoted the Republican-revised platform to protect digital asset ownership and custody. Lummis is a long-time ally of the crypto industry, and she and Scott also talked about the role of the Bitcoin mining industry in finding new forms of energy and strengthening critical energy infrastructure in the United States, which was a recurring theme at this years conference. (Cointelegraph) Earlier news, three crypto industry executives familiar with the bill revealed that Republican Senator Cynthia Lummis of Wyoming, who supports cryptocurrency, is planning to announce draft legislation on using Bitcoin as a strategic reserve at the Bitcoin Conference.

1. IntoTheBlock: Genesis Trading currently still holds about 32,256 bitcoins; 2. Bloomberg analyst: Ethereum ETF is not as good as Bitcoin ETF in offsetting Grayscale fund outflows; 3. Jack Dorsey is reforming and restructuring Block; 4. The US court has approved BlockFi to repay customer funds in full; 5. Bloomberg analyst: Ethereum ETFs total assets have approached US$9 billion in three days of listing; 6. Binance Web3 wallet now supports Mantle, Cyber, Gravity and BOB networks; 7. More than 30% of VanEck CEOs personal net worth is Bitcoin; 8. Bitstamp: Mt. Gox creditors BTC and BCH distribution, UK customers will have a separate distribution plan; 9. Drift Protocol will launch a prediction market on Solana; 10. Bitcoin expansion network Mezo completed $7.5 million in financing, led by Ledger Cathay Fund; 11. Grayscale Bitcoin Mini Trust 19b-4 form approved, waiting for its registration statement to take effect; 12. Robert Kennedy Jr.: If elected president, he will require the United States to purchase 550 BTC per day to establish a 4 million BTC reserve; 13. The judge approved the postponement of the confiscation of FTXs approximately $40 million PAC political donations; 14. Ethereum team leader: PeerDAS upgrade violates the spirit of Ethereum decentralization; 15. Michael Saylor: Bitcoin may rise to $13 million by 2045, and the total market value will account for 7% of global wealth; 16. EigenLayer: AVS rewards and EIGEN programmatic incentives will be launched soon; 17. Nomura Securities cryptocurrency unit is set to launch a higher-yielding alternative to the Ethereum ETF.

Odaily News According to Trader Ts monitoring, the US Ethereum spot ETF had a net outflow of US$163 million yesterday, of which BlackRock ETHA had a net inflow of US$87.3 million.

Odaily News According to Trader T monitoring, BlackRock IBIT had a net inflow of US$23 million (341 BTC) yesterday, with a trading volume of US$1.1 billion.

Odaily News Speaking at the Bitcoin Conference, Michael Saylor, founder of Micro Strategy, said that as adoption grows, the price of Bitcoin could exceed $13 million by 2045, which would require a 29% annual return. At this level, Bitcoins market value would reach $280 trillion, accounting for 7% of global wealth. He added: In a bear market scenario, the price of Bitcoin could be $3 million, accounting for 2% of global wealth; but in a bull market scenario, the price of Bitcoin could reach $49 million, accounting for 22% of global wealth. Under Saylors leadership, MicroStategy has bought 226,331 Bitcoins in the past four years, which are currently worth about $15 billion, about 80% higher than the cumulative purchase price. (Bitcoin Magazine)

Odaily News Ethereum team lead Péter Szilágyi expressed his concerns about the direction of Ethereum development on social media, involving the Ethereum PeerDAS proposal, which proposes to increase the Ethereum blob size to 32 MB. Szilágyi believes that the PeerDAS upgrade will hinder home stakers (usually those with simpler computing power setups) from participating in the Ethereum network, which goes against the spirit of decentralization. Szilágyi wrote on X: Ethereum researchers are murdering home stakers in front of everyone. This is not what I expected when I joined Ethereum. Now I am happy to prove that this is not the case, but I feel that Ethereum is losing its thread. The research team seems to have fully accepted the idea of centralizing everything as long as it can be verified. Its a joke: decentralized verification but centralized control. (The Block)

Odaily News According to on-chain analyst Yu Jins monitoring, the Uniswap team/investor/advisor address that has been continuously transferring UNI to Coinbase Prime recently continued to transfer 1.189 million UNI (US$9.12 million) to Coinbase Prime 2 hours ago. ◎He has transferred a total of 7.168 million UNI (US$58.51 million) to Coinbase Prime in the past 23 days. ◎The 9 million UNI he obtained from the Uniswap team/investor/advisor token distribution contract in September 2020 is finally almost sold out: currently only 1.831 million (US$14.04 million) are left, and it will be cleared in 1~2 more times.