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Crypto Price Update

Feature News: Is Crypto a Major Political Issue in the U.S. Elections?

A new survey by Harris Poll for Grayscale revealed that seven out of ten respondents have invested in various assets, with almost one in five (19%) holding cryptocurrency. This highlights the growing penetration of digital assets among the voting population, Cointelegraph reported.

Survey highlights:

• 73% of voters believe U.S. presidential candidates should be informed about innovative technologies such as cryptocurrency and artificial intelligence.
• One in three voters stated they would consider a political candidate’s stance on cryptocurrencies when deciding how to vote.
• Almost everyone surveyed (98%) had heard of Bitcoin, demonstrating widespread awareness.
• Awareness of other cryptocurrencies like Ether is lower, with 46% of respondents unfamiliar with it.
• The survey revealed demographic trends, showing higher cryptocurrency ownership among men (23%), Black and Hispanic voters (26% and 32% respectively), and younger voters, with 31% of Gen Z reporting crypto investments.
• Finally, inflation concerns have driven 40% of investors to include crypto in their future portfolios.

Local News: ICP Announces Community Grants For Web3 Founders

ICP Hub PH offers grants across various focus areas to support the adoption and development of Internet Computer technology. These grants aim to foster innovation, education, and engagement within the ecosystem. The three main focus areas are Innovator-in-Residence, Education, and Influencers.

Regulation

• Nigeria’s National Information Technology Development Agency (NITDA) has restructured the National Blockchain Policy Steering Committee (NBPSC) to focus on diverse blockchain applications in the supply chain, public health, real estate, and finance, beyond just digital assets and DeFi. 
• South Africa’s Financial Intelligence Centre (FIC) is proposing a directive aimed at tightening regulations for crypto asset transfers following the licensing of 75 crypto asset service providers (CASPs).
• Argentina is collaborating with El Salvador to study the latter’s experience in Bitcoin adoption and cryptocurrency regulation.

DeFi

• Uniswap Foundation announced the roadmap for the launch of Uniswap v4, emphasizing a comprehensive audit strategy involving top blockchain security firms to enhance DEX security.
• CPO Magazine reported that in mid-May, a series of cyber attacks targeted DeFi protocols, resulting in a combined loss of over $25 million in cryptocurrency from platforms like Sonne Finance, BlockTower Capital, and ALEX Lab.
• Chainge, a cross-chain DeFi liquidity protocol, secured a significant $13 million investment from crypto-focused firms GEM Digital and Alpha Token Capital (ATC).

Web3 Gaming

• The Arbitrum community is rallying behind a governance proposal to allocate 200 million ARB tokens for the development of web3 games on Ethereum Layer 2.
• Victory Square Technologies Inc. announced the launch of the $GAME token, developed by its portfolio company GameOn, in collaboration with Sportsology, on June 3rd.

Noteworthy 

• The European Blockchain Observatory and Forum (EUBOF) has advised the European Union (EU) to prepare for the merging of AI and Web3 technologies and the emergence of Central Bank Digital Currencies (CBDCs).
• Sphere Labs, a blockchain developer specializing in stablecoin services for businesses, has introduced a bank-to-wallet extension for Telegram, enabling users to transfer funds between bank accounts and wallets within the app.
• Ripple (XRP) holders eagerly anticipate both the potential approval of an XRP ETF by 2025, as indicated by a recent poll conducted by a Ripple validator, and the outcome of the SEC vs. Ripple lawsuit, which has been ongoing since 2020.
• JPMorgan expresses skepticism about the SEC approving spot crypto ETFs beyond bitcoin and ether, citing the controversial nature of the recent approval of spot Ethereum ETFs and the SEC’s stronger stance on classifying tokens outside bitcoin and Ethereum as securities.

This article is published on BitPinas: Is Crypto a Key Political Issue in Upcoming US Elections? | Key Notes | May 29, 2024

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