The Pudge Report - June 17, 2024

I’ve got kids, and the bathroom is my solace.

And while I’m solacing I don’t want to have to turn my phone sideways or click on something to see it better or pinch the screen to zoom in or out. I just want to use one thumb to scroll, that’s it.

If that sounds like you then this newsletter is for you.

‘Wall Street Is Greedy’: Tether Co-Founder Predicts Next ETFs After Bitcoin, Ethereum 🤑

Wall Street’s got its eyes on the crypto prize, and according to Tether co-founder William Quigley, they’re not stopping at Bitcoin and Ethereum ETFs. The insatiable greed of Wall Street will push for more crypto ETFs, like Solana and Cardano, because why not milk the next hot thing? "Wall Street loves the next hot new thing," Quigley said, predicting more ETFs until the hype dies down. 💸
Read more here.

Bitcoin Boy Wonder: From $1,245 to Millionaire by 18 🤑

While his peers were busy gaming, Erik Finman turned a $1,245 gift from grandma into a Bitcoin fortune. Betting on Bitcoin at $12 a pop in 2011, he amassed 103 Bitcoins, skyrocketing to millionaire status by 18. Now with over $4.8 million and branching into aircraft investments, Erik’s story is a masterclass in proving teachers wrong. 🎮
Full story here.

Ripple’s Top Lawyer Says SEC Is "Raging": Pass the Popcorn 🍿

Ripple’s top lawyer Stuart Alderoty isn’t holding back, calling the SEC’s latest moves "raging." He claims Ripple’s thriving despite the SEC’s tantrums and notes the agency has abandoned its $2 billion fine demand. Unlike Terraform, Ripple's no fraud allegations make SEC’s demands look even more ridiculous. 🙄
Read more.

Uniswap’s Legal Team Gets a Coinbase Upgrade ⚖️

Katherine Minarik is ditching Coinbase for Uniswap, taking over as chief legal officer. With the SEC breathing down Uniswap’s neck, Minarik’s experience as the "key architect" of Coinbase’s litigation strategy will come in handy. Meanwhile, ex-Digital Currency Group legal head Mike Katz joins Manatt to beef up their blockchain game. 🔥
Read more.

Crypto Startup Funding Hits $100B: Who Says There’s No Money in Crypto? 💰

Crypto startups have hit a massive milestone, raising over $100 billion since 2014. Despite regulatory ups and downs, the industry’s funding peaked in October 2021 with over $7 billion raised in a single month. High-profile deals continue to roll in, proving there’s still plenty of cash to splash in the crypto world. 💵
Full story here.

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Financial Advisors Are Not Feeling Bitcoin ETFs, Says BlackRock’s CIO 🧐

Financial advisors are wary of Bitcoin ETFs, despite their January launch. BlackRock’s Samara Cohen explains that most buyers are self-directed investors, with advisors cautious due to Bitcoin’s wild price swings. Still, some analysts predict Bitcoin could hit $1 million by 2033, driven by ETF demand. 🤑
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Mark Cuban: Gary Gensler Could Sink Biden’s Re-Election 🗳️

Mark Cuban believes SEC Chair Gary Gensler could "literally cost Joe Biden the election" due to his anti-crypto stance. Cuban argues that crypto voters will make their voices heard, and Biden’s negative approach to crypto might backfire. Meanwhile, Trump’s all-in on Bitcoin, promising to end Biden’s "war on crypto" if re-elected. 🤯
Full story here.

Trump Vows to End Biden’s Crypto Crackdown if Re-Elected 🚫

Trump’s promising to end Biden’s "war on crypto" and secure Bitcoin’s future in America, especially in Florida. He’s pushing for all remaining Bitcoin to be mined in the U.S. and argues it could defend against central bank digital currencies. Trump’s 180-degree turn on crypto shows he’s all in, unlike Biden’s cautious approach. 🇺🇸
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Altcoin Opportunities Post-Correction, Says Analyst Jamie Coutts 📉

Jamie Coutts sees the current dip in digital assets as a mid-cycle correction, creating opportunities in small and mid-cap altcoins. Bitcoin and Ethereum have held up better, suggesting a rebound for smaller projects. Coutts also notes a rise in daily active users on smart contract platforms, signaling ecosystem health despite price drops. 🚀
Full story here.

64% of BNB Belongs to Former Binance Boss, Despite Prison Time 🏦

Changpeng Zhao (CZ), ex-CEO of Binance, might be in prison, but he still holds 64% of BNB’s supply. Despite regulatory troubles and a $4.3 billion fine, CZ’s grip on BNB underscores its importance to Binance. His legal woes cast a shadow, but BNB’s recent price surge shows its resilience. ⚖️
Read more.