Daily Crypto News
Daily Crypto News
Aug 19: The Story of Grift City - How to Burn $140M in VC Money
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Aug 19: The Story of Grift City - How to Burn $140M in VC Money

So the Story goes all too often: VCs invest billions into ghost chains and the founder exits right as the project's failure is in full view.

HEADLINES FOR AUGUST 19

  • Wyoming shocks markets with its multi-chain “Frontier” stablecoin launch.

  • 1inch unveils native Solana-to-EVM swaps, no bridges required.

  • Chamath’s $250M “American Exceptionalism” SPAC reignites the Grift City debate.

  • Story Protocol implodes—$140M raised, $25 in revenue, and a vanishing CEO.

  • Do we really need more L1s? DeFi Llama data shows daily revenues scraping the bottom.

Little Bitz
  • Solana hits 100K TPS in test run post-Alpen Glow

  • Tether hires Bo Hines, ex-White House Crypto Council head, as U.S. advisor

  • Bullish IPO: Raised $1.1B at $37/share, $5.4B valuation (Owners of Coindesk and Peter Thiel-backed operation)

WHERE TO FIND DCN

EMAIL the Host

Email: kyle@dailycryptonews.net

*****

Magic Newton Wallet

https://magic.link

Trader Cobb X: @TraderCobb

https://www.thegrowmeco.com/

Editing Services

https://www.contentbuck.com

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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST EDUCATION & ENTERTAINMENT!


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