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- Gensler As Treasury Secretary Rumor Sparks Skepticism
Gensler As Treasury Secretary Rumor Sparks Skepticism
Alpha Team
August 19, 2024
🤔 Gensler Rumored as Treasury Secretary Pick
Possible Treasury Secretary Nomination: Gary Gensler, the crypto-critical SEC head, might be nominated as Treasury Secretary if Kamala Harris wins the presidency in November 2024, according to a Washington Reporter article citing unnamed sources.
Gensler’s Controversial Stance on Crypto: Appointed SEC Chairman in 2021, Gensler has been criticized by both parties for his strict crypto regulations. His potential Treasury role may be influenced by the outcome of the 2024 election.
Speculation and Skepticism Surrounding the News: Caitlin Long and Bloomberg’s Eric Balchunas expressed doubts about the rumor, suggesting it might be a tactic to influence the crypto community's political views. Read More.
️ On today's Top Picks:
- 📉 Solana had record $39M of outflows last week.
- 🔵 Base announces Basenames are coming soon.
- 🔓 Avalanche $AVAX token unlock worth ~$198M.
- 💸 ZachXBT notes suspicious transfer of $238M of Bitcoin.
Read time: ⏰ 5 minutes
Crypto News
• ⭐️ Solana had record $39M of outflows last week; blamed on decline of memecoin trading.
• Polygon to migrate $MATIC to $POL as native gas & staking token on September 4th.
• Tether $USDT to launch on Aptos $APT blockchain.
• Binance resumes operations in India amid successful registration with India's FIU.
• Coin Center to sue US Treasury & IRS again over tax reporting rule.
• Former US SEC Crypto Enforcement Chief David Hirsh joins McGuireWoods law firm.
Alpha
• ⭐️ Base announces Basenames are coming soon; to be listed via Dutch auction.
• Linea launches Surge Volt 4 with continued focus on stablecoin liquidity & higher LXP-L modifiers for active vs passive positions.
• RedStone Oracles launches RedStone Expedition Season 2; changes to be revealed this week.
• SyncSwap launches SyncSwap Badges on Scroll Canvas.
• ICYMI Weekly News by Earndrop.
Airdrops
• Rango unveils new roadmap through 2025; token launch scheduled for 2025.
• ICYMI Entangle Omnichain Omnipoints Program by Earndrop.
• Introducing Allora Network by mystri.
• ICYMI Orderly Network $ORDER TGE & Airdrop launching August 26th.
Finance News
• ⭐️ SEC Chair Gary Gensler is reportedly being considered for Treasury Secretary if VP Kamala Harris wins US presidential election.
• Russia announces 90% of trade with China is settled with native currencies as they ditch the US Dollar.
• Azerbaijan applies to join BRICS; a total of 46 countries have applied to join before 2024 summit.
• Mastercard $MA to reduce global headcount by 3% (~1K) citing reorganization.
• AMD $AMD to acquire ZT Systems for $4.9B by H1 2025.
Security and Exploits
• ⭐️ ZachXBT notes suspicious transfer of $238M of Bitcoin from a potential victim.
• Google sued after it allegedly took 3 months to remove malicious app from the Play Store.
Token Unlocks
⭐️• Avalanche / 9.54M $AVAX / ~$198M / AUG 20
• Space ID / 18.49M $ID / ~$6.7M / AUG 22
• Galxe / 586.67K $GAL / ~$1.5M / AUG 23
Funding
• Fabric Cryptography raises $33M in Series A funding led by Blockchain Capital & 1kx.
• Bifinance raises $10M in Series A funding led by Sunfund Fortuna Global Opportunities,
• Holonym raises $5.5M in Seed funding led by Finality Capital Partners & Paper Ventures.
• KIP Protocol raises $5M in Private funding led by Animoca Ventures & Tribe Capital.
• Mesh raises an undisclosed amount in Strategic funding from QuantumLight.
• GAMEE raises an undisclosed amount in funding from TON Ventures.
The Degen Farmer
Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!
| PROTOCOL | ASSETS | APY |
|---|---|---|
 Storm Trade (Ton) | USDT | 64.12% |
 Notional V3 (Ethereum) | NUSDC | 33.32% |
.jpg){kind=icon} BFX (Blast Futures) (Blast) | USDB | 30.04% |
 Anzen V2 (Ethereum) | SUSDZ | 25.28% |
 Merkl (Arbitrum) | USDEUSDT | 21.93% |
 Extra Finance (Base) | USDZUSDC | 21.12% |
 Aerodrome V1 (Base) | USDZUSDC | 19.16% |
 Umami Finance (Arbitrum) | GMUSDC(WBTC) | 19.06% |
⚫️ Polynomial launches their Superchain |  |
Polynomial, Optimism OG protocol: the team recently launched their own Superchain (ETH L2) - focused on derivatives. Retroactive points for sDAI holders, Instadapp, Polynomial, SNX, milady users 👀.
Retroactive: The Initial Liquidity Event (ILE) is scheduled to go live on August 21st. Until then, there's time to farm points with a boost by depositing assets to the chain. And to claim retroactive allocations if you are eligible.
🪂 Points opportunity 🪂: check out Earndrop's thread with a step by step on how to start farming, risks involved, and withdrawal times.
That’s it for today’s edition! See you soon.
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