Morning Minute | Kamala Shares Positive Thoughts on 'Digital Assets'

TylerD's Market Summary

💸 Kamala Harris Promotes Innovation for 'Digital Assets'

It's been no secret in crypto circles that Trump is the more crypto-friendly presidential candidate.

He's given speeches at Bitcoin Nashville, has a distinct section on crypto in his Policy document, and most recently did a crypto-themed interview with notable crypto founder Farokh.

But while Trump was hosting an NFT dinner at Mar-a-Lago last night, Kamala Harris was the one making bigger headlines.

What Happened?

Yesterday, Kamala Harris made her first crypto remarks since she's been on the campaign trail, encouraging innovation in the sector.

Her exact words:

"We will encourage innovative technologies like AI and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules of the road."

This came after Anthony Scaramucci announced during Token 2049 that he has been working with the Harris campaign to develop crypto policy.

While many in the right-leaning Crypto Twitter space are skeptical, some founders are sharing their excitement with Harris's crypto revelation.

Enter Hayden Adams, founder of Uniswap:

"Kamala just said she will encourage innovative technologies like DIGITAL ASSETS I believe this is her first time referencing crypto publicly and it’s in a positive way."

When questioned about why she hasn't done more in her 4 years as VP, he went on to state:

"Agree Biden has been terrible for crypto and tech

She is signaling her admin will approach it differently / be more pro innovation

Fine if you don’t believe it

Personally I think positive statement from sitting VP w/ 52% chance of being president (polymarket) is progress"

Why It Matters

It's increasingly clear that Kamala is trying to distance herself from the Biden administration as she shares more information on her policies.

The question of course - will she actually deliver on those promises or is she just pandering to get votes?

While we can't know the answer for now, I'd argue its majorly -EV to continue to be hostile to the candidate with a slight lead in the election.

Continued hostility is not helping anyone out, and making crypto a partisan issue is also a long-term negative.

Leaders and participants should be trying to work across the aisle to make sure crypto's future in America is bright.

Shoutout to the level-headed founders like Hayden for leading by example.

🚚 What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

• Ethereum led NFT trading volume with $2.9M on the day; Bitcoin was next with $2.7M, and then Solana with $1.9M
• ETH NFT leaders mostly chopped over the weekend; Punks even at 28.8 ETH, Pudgy even at 10.75, BAYC even at 11.87 ETH, Azuki +2% at 5.75
• Dark Machine (+30%) and Bricktopians (+25%) were notable top movers
• BTC NFT leaders were very green up 5-15%; NodeMonkes +15% at 0.182 BTC, Puppets +17% at 0.108 BTC, OMB +8% at 0.16, Quantum Cats even at 0.235
• The Runes leaders were mixed with DOG +1% at $254M mc, RSIC -4% at $60M mc, PUPS even at $31M, and BILLION DOLLAR CAT +22% to $22M
• Solana NFTs wer3 red; Mad Lads -5% at 55 SOL, SMB Gen 2 -2% at 26, DeGods -5% at 21.5 SOL, Claynos -5% at 14.8
• A Lost Robbie sold for 200 ETH ($500,000) over the weekend while a serial #1 DOOMED by XCOPY sold for 55 ETH

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token, protocol and/or airdrop news from the day:

🌎 Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

• Crypto majors are mostly green this morning; BTC +1% at $63,430; ETH +2% at $2,640, SOL -1% at $144; TAO led top movers up 128% to a $4B mc
• Memecoin majors mostly chopped with DOGE +1%, PEPE -1%, WIF +1%, BONK -1%, MOG +4%, POPCAT +11%; MOODENG soared to $50M after being featured in a Beeple Everyday (now $42M)
• The SEC approved options on BlackRock's spot Bitcoin ETF
• BNY Mellon was given approval to custody Bitcoin, the first major bank to receive this exemption from SAB 121
• Kamala Harris promised to help grow AI and digital assets at a Wall Street fundraiser
• Coinbase announced plans to bring cbBTC to Solana
• Iggy Azalea shared plans for a new online casino Motherland amidst a raucous party at Breakpoint

🚀 Memecoin Movers 

• $MUMU (+50%, $136M market cap, SOL)
• $hehe (+40%, $30M market cap, SOL)
• $NEIRO (+38%, $486M market cap, ETH)
• $tooker (+19%, $12M market cap, SOL)
• $NUB (+19%, $12M market cap, SOL)

📈 NFT Floor Price Increase (ETH)

• Impostors UFO (70%, 0.08 ETH Floor)
• ALTS by adidas (30%, 0.11 ETH)
• Bricktopians (25%, 0.1 ETH)
• NFTrees (21%, 6.06 ETH)
• Voxelglyph (19%, 1.98 ETH)

🗓 Upcoming Mints and Events

Today is a busier day of drops to start the week.

There's art and PFPs coming on Bitcoin with Nullish's DYSON SWARM a highlight.

Then Fernando Jerez is back with an Art Blocks drop "Roots," the first in quite some time.

See the full list and dive in for more details with Swizzy's daily mint monitor. 

• Beggy (10:00 a.m. ET)
• Nullish - Dyson Swarm (11:00 a.m. ET)
• cvr - ataraxia (11:00 a.m. ET)
• Aneemoo's - Rejected (12:00 p.m. ET)
• Fernando Jones x Artblocks - Roots (1:00 p.m. ET)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to tyler.d.warner@gmail.com.