GM. This is Milk Road, we mine the crypto news cycle for all the best gems, and deliver them straight to you (daily)!
Here’s what we got for you today:
- ✍️ What to look out for in August
- ✍️ The biggest crypto regulatory shift, ever
- 🎙️ The Milk Road Show: We’re Mid-Bull Market: Why the Dip Is Just Noise, Not Doom w/ Ash Pampati
- 🍪 This dip isn’t the end, it’s the setup
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Prices as of 2:00 PM ET. Click here for our Fear & Greed Index.
WHAT TO LOOK OUT FOR THIS MONTH 📆
New month, new list of crypto-related events and market catalysts.
Here’s what we’ve got for you in August:
1/ Macro 🌎
- 10-Year Note Auction – Wed 6th – The US is raising debt, and the rates demanded by the market will tell us what investors think of the US as a lender (low rates = reliable lender, high rates = unreliable)
- CPI data – Aug 12th – is inflation rising/falling and at what rate? (Current forecast is 3.2%)
- Jackson Hole Symposium – Aug 21-23 – This is where the Fed and a bunch of global central bank leaders get together to discuss the global economy and its outlook
- Retail sales data – Aug 15th – are consumers consuming? A healthy retail market is a sign of a healthy economy
- Michigan Consumer Sentiment Data – Aug 15th – a vibe check with consumers
The two events/releases we’ll be watching closely: CPI & the Jackson Hole Symposium.
2/ Unlocks 🔓
We’ve got a bunch of big names unlocking chunks of their supply this month, watch for potential volatility:
P.S. If you want a closer look at $PUMP’s unlock schedule and what it could mean for future prices, read our latest PRO report – here!
(Not a PRO Member? Fix that here.)
3/ Podcasts 🎙️
This month's podcast theme: GOATs. 👇
- Tue, Aug 5th: Michael Howell, the godfather of global liquidity – Milk Road Macro
- Fri, Aug 8th: Jesse Pollak, founder of Base Chain – Milk Road Daily
- Fri, Aug 15th: OSF, founder of Rekt (the NFT/token/drink brand taking over your timeline) – Milk Road Daily
(Someone give our podcast bookers a raise!)
4/ Government 🏛️
This week/month we’ll be looking at the market’s reaction to some of the most BULLISH crypto regulatory news we’ve seen since, well…ever.
SEC Chair, Paul Atkins, dropped a BANGER of a speech last Friday that laid out the SEC’s master plan for making America the crypto capital of the world.
Want a closer look at the plan?
Keep scrolling to the next article and we’ll break it down for you. 👇
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PROJECT CRYPTO: THE BIGGEST CRYPTO REGULATORY SHIFT, EVER 💪
Damn, for a 55-year-old white dude from Lillington, North Carolina, Paul S. Atkins can spit bars!
(Like, enough that we want to give him a stage name – The Notorious P.S.A? Pusha P? P Didd—wait, no.)
Last Friday, Pusha P laid out his vision for ‘Project Crypto’ – an SEC initiative that aims to make the US the crypto capital of the world.
Here’s what Project Crypto is looking to achieve:
1/ Bring crypto fundraising back to the US
Bars:
The basic gist…
Here’s how it used to go:
Crypto companies would tell the SEC what they’re trying to achieve → the SEC would stay tight-lipped…right up until they sued the company in question (using laws set in the 1930s).
Here’s how it’s going to go from here on out:
Crypto companies tell the SEC what they’re trying to achieve → they guide these companies on how to do so legally, with modern frameworks → the industry grows & consumers are protected.
2/ Give people more choices for storing crypto
Bars:
The basic gist…
Previously, if you were trying to offer crypto custody as a regulated entity – the SEC made you jump through an insane amount of hoops in order to do so.
This new SEC wants to give companies the ability to choose the most efficient regulatory framework for their business (instead of the SEC choosing on their behalf) and let them run with it.
(The easier something is to do → the more companies will do it.)
3/ Allow financial "super apps" to exist
Bars:
The basic gist…
Currently, companies often need 50+ state licenses and multiple federal licenses if they want to offer financial services across the US.
Pusha wants to create ‘one single license to rule them all’:
Crypto, tokenized stock, staking, lending…one license 🤝 multiple feature/product offerings.
4/ Enable blockchain-based trading systems
Bars:
The basic gist…
Right now, the current rules assume human go-betweens are needed for an exchange platform to run smoothly – but blockchain trading platforms have since proven that assumption wrong.
Pusha wants to set new regulatory frameworks that will allow automated blockchain trading without the need for traditional middlemen (under the law).
Aka: he’s laying the regulatory foundation needed to bring ALL financial trading onchain.
5/ Create an "Innovation Exemption"
Bars:
Wanna try something new, but worried you might get a knock at your door from the SEC (enforcement action in hand)?
Soon, you may be able to get an ‘innovation exemption’, allowing you to build first → then tailor your product to a regulatory framework.
(Instead of the other way around.)
The throughline with all of this:
These proposed changes lay the groundwork needed to move the entire US financial system onchain – lowering costs, increasing speed/efficiency, and encouraging competition.
(All things that benefit us, the consumer – not just the ingrained institutional superpowers.)
Say it with me now: “HUGE!”
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This dip isn’t the end - it’s the setup. 3 degen plays for the next market pump...
Another day, another crypto IPO. The crypto platform 'Bullish' just filed for IPO, aiming to raise up to $629M.
Crypto startups raised $2.6B in July! Here are the biggest winners. — DL News
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