It’s alright, it’s alright, it’s Colton here, the CEO of Hedgehog, the app that helps you buy baskets of cryptocurrency and automate your digital asset exposure wherever you custody funds. Don’t forget that also now includes a self-custody MPC wallet where Hedgehog can invest on-chain on your behalf without knowing your private key! Watch the short demo, coming soon to an app near you.
I hope you all are staying safe during the solar flare by ensuring you have sufficient water and food in case of extended outages in critical infrastructure, but if you’re in the northern climes I also hope you enjoy the beautiful auroral light shows left in the flare’s wake.
Here it comes
The powers that be are conspiring to make crypto a point of contention in the upcoming presidential race: a financial committee resolution to repeal SAB 121, which requires custodians to report customer crypto holdings on the institutional balance sheet, passed the house in spite of Biden’s promises to veto the bill should it reach his desk; and Trump came out in favor of crypto despite previous assertions to the contrary.
With the SEC setting its sights on Robinhood as the newest in a string of enforcement actions against crypto companies every month since November, the digital asset industry is waking up to the need to lobby and get involved with politics so they can avoid another 4 years of Democratic antipathy. Will crypto be a hot-button issue this cycle? Maybe not, but 13% of all Americans own cryptocurrency which could be more than enough to swing an election.
Luminiferous ether
Ethereum gas prices are hitting a local low as L2 interactions are hitting an all-time high. Vitalik is still not satisfied though, and has a new proposal to create more specific components to gas prices that take into account the scarcity and importance of different computational resources. He seems to be having a new prolific period, because he just cranked out a new EIP creating temporary account abstraction transactions. We stan.
Weekly feature
Today we’re featuring Jeo Boden (BODEN) and MAGA token, the memecoins that moved the most on Thursday after related election news. Will these be good proxies for broad electoral support of either candidate? Almost definitely not, but if you want to play with prediction markets for real there are plenty of interesting protocols out there. Please don’t trade these coins with the expectation of profit.
I’m now officially a homeowner and a Wyoming resident! Hopefully back to our regularly scheduled programming once I’ve unpacked my boxes.
Keep hedging,
— Colton