Let's turn now to crypto as shares of the blank check company Dynamix Corp. are higher. On the news, they'll merge with crypto venture the Ether Reserve to form a new company called the Ether Machine. Got that.That deal is expected to close in Q4. And Ether Machine will trade on the NASDAQ under the ticker EHTM. It's a spa.In other words, CNBC crypto reporter Tana McKiel says it's vying to be the micro strategy of Ether, but with a focus on generating yield. Let's bring her in to discuss. And tonight, this ...

IN, SCARLET FU WITH VONNIE WHEN THE S&P 500 IS NEAR RECORD HIGHS BUT HASN'T MOVED A LOT THIS AFTERNOON. VONNIE: ALMOST AT 6300 FEET FLAT ON THE S&P 500 BUT 50% OF THE COMPANIES IN IT ARE HIGHER AND 50% OR LOWER. WE HAD COMMENTS FROM CHRIS WALLER ON TELEVISION TODAY REITERATING HIS CASE FOR A RATE CUT AND THE PRESIDENT IS PUSHING FOR A MINIMUM TARIFF. YOU HEARD THE PRESIDENT TALKING ABOUT TARIFFS ON BRICS AND OTHER COUNTRIES. PROFIT TAKING AS WELL, GIVEN THAT IT IS FRIDAY. SCARLET: LET'S BEGIN OUR MARKET DIS ...

for everything crypto. Yenni Guyoy joins us. He is the CEO and founder of the crypto trading firm Wintermute.Uh Yavghi, thank you for joining us here today. I I guess just first of all having the signing today by the president, does this pave the way in a real sort of fundamental way for stable coins and cryptocurrency at large to have a more commonplace use case every day. No, absolutely.um lack of lack of clear regulation has been such a boon in the industry honestly and this in particular the clarity act ...

Right. So, now let's kind of broaden this out. Talk more about crypto. Talk more about the markets.One of our favorite guests, Yan Vanek, CEO of Van Associates. I don't know if the arcade thing worked. It was the best I could do.Yan, good to have you on. Um, as an asset manager yourself. Yeah.Do you read this bill as a way to broadly expand the industry in a one way that, if it hasn't already, is going to affect VanX clients. It's it's affecting a lot of parts of the market. If you just look at what's happe ...

Regulatory Environment & Institutional Adoption - The potential for a "stampede" of banks, institutional investors, and enterprises into the crypto space is anticipated due to evolving regulatory clarity, particularly in the US [2][3] - Institutional investors have been hesitant due to regulatory uncertainty, but are now showing increased interest in Bitcoin, Ether, and stablecoins [2] Ethereum & Ether's Potential - Ethereum is highlighted as the primary programmable ecosystem for stablecoins and tokenized real-world assets, with approximately 85% of off-chain assets being tokenized on its blockchain [5] - Ether is expected to experience significant demand as it fuels Ethereum transactions ("gas"), potentially surpassing Bitcoin in value over time [6][7] - Robinhood's plan to build a Layer 2 network on Ethereum, offering unique investment products, is expected to attract more users to the crypto ecosystem [6] Stablecoins & Payments - Stablecoin transactions reached an estimated $800 billion worldwide prior to recent legislation, representing a 100% increase year-over-year [8] - Institutional investors are expected to utilize stablecoins (dollar tokens) to purchase tokenized assets, transforming the payments ecosystem [9] - On-chain transactions on Ethereum are approaching a benchmark of costing about a penny and executing in under a second, contrasting with the traditional financial system's days and dollar costs [10]

Legislative Developments - The House has passed three crypto bills: market structure, banning central bank digital currency, and stable coins [1] - The stable coin bill is headed to the White House for signing [2] - Strong bipartisan support exists for both the stable coin and market structure bills [4] Industry Influence - The crypto industry spent almost $200 million on lawmakers' campaigns in the 2024 election [3] - The crypto industry has already allocated $141 million for the upcoming midterm elections [3] - The industry's bipartisan approach has yielded positive results in legislative progress [3] Key Focus - The market structure bill is considered key for the crypto industry [4] - The stable coin bill is viewed as a win for the crypto industry [4]

The House adopting a rule late last night to bring forward cryptocurrency legislation. That vote took more than nine hours as Republican leadership worked to win over holdout members. A bill to establish federal guidelines around stable coins is likely to be the first bill passed.And joining us right now to talk about this is New Jersey Democrat, Congressman Josh Godheimer. Um, Congressman, first of all, welcome. Um, normally what we see Thanks for having me.Great to see you. Thanks for being here. Normally ...

When we think about crypto, most people think immediately Bitcoin or Ethereum or maybe it's memecoins, whatever was hyped up and talked about for, you know, years on end, that's what they're locked in on. Even outside of crypto, if you talk to people about crypto, the first thing that they mention is, isn't that Bitcoin. Because they are unaware of what's actually in this space.And when I say that, I mainly mean utility based projects. Utility based crypto projects is something that a lot of people actually ...

Market Trends & Inflation - Bitcoin fell after inflation data showed prices climbed 2.7% in June [1][2] - Standard Chartered is launching digital asset trading service for institutional clients, allowing spot trading of Bitcoin and Ether [2][3] Regulatory Landscape & Legislation - Grayscale confidentially submitted an S1 with the SEC to list on a US stock exchange, number of shares and price range have not yet been determined [1][4] - The House failed to clear a procedural hurdle to move crypto bills forward, facing opposition from both Republicans and Democrats [7] - Coinbase's chief legal officer discussed the Clarity Act, the Genius Act (Stablecoin Regulation Bill), and the Anti-CBDC Surveillance State Act, emphasizing the need for regulatory clarity [8][9] - The Genius Act has already passed the Senate and could be signed by the president soon [10] - The Clarity Act aims to clarify the jurisdiction of the SEC and CFTC over digital assets [11][12][13] - The President aims to sign stable coin legislation by August recess and wants a market structure bill ready for signature no later than September 30th [19][20] Stablecoins & Blockchain Adoption - White House official David Saxs said more companies could be encouraged to use blockchain technology if the Genius Act passes, potentially leading to wider adoption by institutions like banks, Visa, and Mastercard [5][6] - US law recognizing stable coins is critical for confidence in the market and for major institutions to invest in this technology [15][16] Coinbase & Political Action - Fair Shake, a political action committee focused on the crypto industry, has $141 million cash on hand, including an additional $25 million contribution from Coinbase [22] - Coinbase has contributed nearly $100 million to Fairshake to date, supporting the enactment of sensible rules for crypto on a bipartisan basis [22][23]

Well, look, I think as the crypto industry has emerged from kind of the last administration where the industry was being attacked, working with the most trusted, the most, you know, well- reggulated and even the best capitalized partners is a way to continue to build trust in this system. And stable coins at their core by their nature, it's, you know, a dollar backed with a dollar in deposits. uh BNY Melon has you know for a very long time been amongst the most trusted partners out there for uh as a custody ...