Jul 9, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as former President Donald Trump's Republican Party has officially adopted a platform that would seek to support crypto innovation.

Video transcript

Trump's Republican Party backs up crypto Innovation and World Chain opens up to developers. You're watching Coin desk daily. I'm your host, Jen San Asi. Former President Donald Trump's Republican Party has officially adopted a platform that would seek to support crypto innovation. The document released Monday by the Republican National Committee wrote, quote, Republicans will end Democrats unlawful and un-american crypto crackdown and quote former President Trump's party is also committed to opposing a central bank digital currency. As Republicans have accused Democrats of pushing for CBD CS that will allow greater financial surveillance of us citizens. The developer firm behind the world Coin protocol shared on Tuesday that its upcoming layer two chain. World chain is open for developers to use. This means that select developers can apply to build test and give feedback to tools for humanity. That's according to a press release shared with Coindesk world Chain has tapped optimism's op stack, a customizable toolkit that lets developers build their own blockchains using optimism's technology to build out its own network. World chain is expected to open to users later this summer. And according to a research report from JP Morgan cryptocurrency's total market cap fell by 8% in the month of June to around $2.25 trillion giving back most of the gains from May spot. Bitcoin ETF S have also seen their second worst month since launch with an estimated $662 million of net outflows. The bank noted that the move in crypto is in contrast to traditional markets as the S and P 500 index gained four for the month and the tech heavy NASDAQ climbed 6% despite the uncertainty around digital assets stablecoins outperformed the rest of the crypto ecosystem in June. And the market cap of the US listed miners also grew almost 20% as the sector benefited from gains due to A I related power use cases. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to coindesk.consensus.com to register and buy your pass now.