Tuesday, July 16, 2024

political pieces, ETH spot ETFs, tokenization roundup

“The inevitable is always certain but not always punctual.” – Jim Grant  ||

Hello everyone, I hope you’re doing ok!

Today I deliver the tokenization roundup I was supposed to publish yesterday (but I ran out of room). I also look at the implications of the nomination of JD Vance as Trump’s running mate, and hey, finally, it looks like we have an ETH spot ETF launch date?

I hope you find Crypto is Macro Now useful or informative or even maybe just fun for the music links – if so, would you mind sharing it with your friends and colleagues? ❤

IN THIS NEWSLETTER:

• Political pieces

• Finally, an ETH spot ETF launch date

• Tokenization roundup: a big European bank, ECB trials, tokenization on Bitcoin, “unusual” assets

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WHAT I’M WATCHING:

Political pieces

Republican candidate Donald Trump’s choice of JD Vance as his running mate is unequivocally good for crypto, perhaps even more than many realize.

It’s not just that Vance holds BTC in his personal account.

It’s not just that Vance used to work as a Silicon Valley VC, and has demonstrated an understanding of the value of incentivized innovation.

It’s that he has for years warned of the danger of censorship via financial access.

(via @JCVance1)

His understanding of the deeper purpose of Bitcoin bodes well not just for the regulatory approach to BTC and related products, but also for DeFi, through what could become a defense of distributed access to financial services. Maybe.

It also suggests that perhaps he will be a moderating voice in Donald Trump’s ear when it comes to the risk of even hinting at censorship.

Of course, as we have seen, political views can change once the paralysis of politics necessitates uncomfortable compromise. But so far, for the crypto ecosystem, this is looking hopeful, especially as Trump’s odds continue to climb – Polymarket now has the odds of a Trump win at 72%, while Biden’s chances are down to 17%. The betting site prices the odds of the Republicans taking the Senate at 80%.