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Will crypto effect the 2024 Presidential Election?

Let’s digest: 

1. Trump Selects Crypto Advocate JD Vance

2. BlackRock’s Embrace of Bitcoin Marks a Turning Point for Crypto Investment

3. Ubisoft Sets the Stage for Free NFT Mint in Upcoming Blockchain Games

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Trump Selects Crypto Advocate JD Vance

Donald Trump, Republican presidential candidate for 2024, has named Ohio Senator JD Vance as his vice-presidential running mate.

Known for his pro-crypto stance, Vance's selection underscores a strategic alignment with the growing influence of blockchain and cryptocurrency in political platforms.

Vance, a newcomer to the political arena with his election to the Senate in 2022, has already marked his territory in the crypto world.

• According to Coinbase’s Stand With Crypto initiative, he is considered a staunch supporter of the crypto industry, reflected in his social media advocacy and legislative actions.

• Vance's financial disclosure from 2022 revealed investments in Bitcoin valued between $100,001 and $250,000, held through Coinbase.

• He demonstrated his support for the cryptocurrency sector by voting for legislation that countered stringent SEC rules on crypto, a move that President Joe Biden vetoed.

This evolving alliance could influence the Republican Party's stance on key issues like crypto regulations and central bank digital currencies.

As the 2024 presidential race heats up, Trump’s campaign has announced it will accept crypto contributions, signaling a possible shift in the party's approach to digital currencies.

This move is paralleled by discussions within the Democratic camp about adopting similar fundraising strategies, highlighting crypto's burgeoning role in American electoral politics.

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 🖼️ Crypto

Larry Fink of BlackRock Endorses Crypto

Larry Fink, co-founder and CEO of BlackRock, has transformed from a crypto skeptic to a believer, a shift that signals a broader acceptance of digital currencies in traditional investment portfolios.

In a recent CNBC interview, Fink articulated his revised stance on crypto, especially bitcoin, highlighting its potential for providing uncorrelated returns and acting as a hedge against currency debasement.

• Fink's endorsement comes on the heels of BlackRock launching the iShares Bitcoin Trust (IBIT) earlier this year, now the largest bitcoin ETF with $18 billion in assets.

• This launch aligns with a broader rally in bitcoin, accentuated by geopolitical events and market dynamics.

• The ETF's shares surged 9.5% to $35.99 following recent political developments.

• This pivot is not just a personal change of heart but a strategic realignment of BlackRock towards integrating crypto into conventional financial systems.

Fink discussed the need for U.S. economic growth driven by the private sector and outlined BlackRock's role in "democratizing" access to private markets.

This includes plans to allow everyday investors into high-yield infrastructure funds, potentially offering double-digit returns suitable for retirees.

Fink's vision extends beyond traditional assets; he hinted at future products that might grant retail investors access to private companies through ETFs.

This approach was underscored by the recent acquisition of Preqin, a data provider on private markets, which will further BlackRock's capabilities in offering nuanced investment opportunities.

🟠 Crypto

Ubisoft Sets the Stage for Free NFT Mint in Upcoming Blockchain Game

Ubisoft is embracing the world of blockchain gaming with a generous offer: a free mint of 75,000 in-game champion NFTs for its new title, "Champions Tactics: Grimoria Chronicles."

This event marks a significant step for the renowned game publisher, known for hits like Assassin's Creed and Just Dance, as it delves deeper into integrating blockchain technology into its games.

• The mint is scheduled on the Oasys platform, a blockchain network tailored for gaming, ensuring that there are no gas fees for participants.

• The initiative kicks off on Monday with an exclusive phase for holders of Warlords profile picture (PFP) NFTs, who will have the opportunity to claim up to five champion NFTs each.

• These Warlords NFTs, previously distributed for free and now trading for about $210 each on secondary markets, have generated nearly $7.7 million in sales since their release last December.

The broader gaming community will get their chance to join in starting Thursday, July 18, when the mint opens to all gamers with an Ubisoft account and an Oasys wallet, provided they meet the age requirement of 18 years or older.

"Champions Tactics: Grimoria Chronicles," a strategy game announced last summer, recently launched its first closed beta, signaling a build-up to a full game release later this year.

Ubisoft is collaborating with Aleph.im, a decentralized cloud computing service, to ensure a fair distribution process during the mint using a verifiable random function.

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💡 INSIGHT

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