Vivek Ramaswamy: Grayscale is Clear Win For Bitcoin 🎉

GM. This is Degen Scoop. It’s Thursday, here’s the scoop:

• Vivek Ramaswamy: Grayscale is Clear Win For Bitcoin 🎉

• Circle Brings USDC to Chile 🪙

• DOJ Stops SBF’s Expert Witnesses From Trial 👀

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Vivek Ramaswamy: Grayscale Appeal is Clear Win For Bitcoin Innovation in US

Next to the BlackRock Bitcoin spot ETF application, the Grayscale win yesterday is arguably the most bullish news for crypto of the year. The win seems to be paving the way for spot ETFs to reach the market in the next year which will ultimately allow for more innovation in the crypto space without worry of SEC meddling in the market.

The courts having sided with crypto the past couple months is testament to the changed conception regarding cryptocurrency. As a Bitcoin bull himself, it’s no surprise that Vivek is pleasantly surprised by the news surrounding Grayscale’s win against the SEC.

Circle Officially Introduces Chile to USDC With Mercado Libre

We’ve spoken often about USDC as it’s the second largest stablecoin in the crypto market. Two days ago, Circle made a large move by engaging in a partnership with Mercado Libre that has 200M users mostly based in Latin America. This partnership will allow for as many as 200M to have simpler access to USDC and use it as they please.

The name Mercado Libre may look familiar as they partnered with Paxos earlier this year to help USDP become available to users in Mexico. It’s likely that Coinbase had a part in this endeavor after their recent equity acquisition in Circle; a primary desire was to expand USDC usage. This is the first of what I imagine will be many partnership in LATAM to make the USDC ubiquitous.

SBF’s Expert Witnesses Have Been Barred From Trial by The DOJ

This is the next installment in the SBF plot since he pleaded not guilty last week. The prosecutors in the case argued that these witnesses were inadequate for a variety of reasons in a court filing on Monday. If the DOJ gets their way, these witnesses will not be allowed to provide testimony in the October trial that is just over a month away.

Needless to say, every development that has come out of the SBF case in the past couple months have been undesirable for Mr. Bankman-Fried. We fully expect him to face a decade plus sentence for his crime in one of the largest frauds to have been exacted on the industry.

Notable NFT Sales in the Last 24 Hours:

Notable Threads You May Have Missed:

Meme of the Day

Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping./im