The Daily: 10,000 Silk Road BTC Moved, Renzo Participates in Solana Liquidity Re-Staking, etc.

It’s Wednesday! In today’s Daily, we look at the movement of 10,000 Silk Road Bitcoins, Renzo enters Solana Liquid Restaking, Chuck Schumer speaks at Crypto4Harris Town Hall, and more.

Let’s get started.

• These bitcoins were originally received from a US government wallet two weeks ago and have now been moved to a Coinbase Prime deposit wallet.
• The transferred bitcoins are likely part of the $2 billion worth of bitcoin seized by the Justice Department from the Silk Road dark web marketplace.
• In early April, a similar test transaction involving a small amount of Bitcoin was sent to Coinbase Prime from a wallet holding over 30,000 BTC.
• The US government confiscated approximately 70,000 BTC linked to Silk Road, and a formal confiscation order was finalized by a US appeals court in late 2023.
• These transactions suggest that the U.S. government is in the process of transferring seized Silk Road bitcoins to Coinbase Prime for liquidation or other purposes.

Renzo joins Solana Liquid Re-Staking

• Renzo is the first liquid re-staking protocol to be introduced on Jito’s (re)staking platform, allowing users to mint ezSOL using JitoSOL as the underlying staking asset.
• Jito is a Solana liquid staking protocol that distributes staking and MEV rewards, and the platform supports re-staking of various staked assets.
• ezSOL is scheduled to launch on Jito infrastructure next month and aims to increase capital efficiency and support complex DeFi strategies on Solana.

Chuck Schumer Speaks at Crypto4Harris Town Hall

• The event is expected to be attended by a number of lawmakers, cryptocurrency experts, and public figures, including Reps. Ritchie Torres, Adam Schiff, and billionaire Mark Cuban.
• Schumer previously voted to overturn Staff Accounting Bulletin 121, a controversial measure in the cryptocurrency industry.
• Cryptocurrencies have emerged as a key issue in the upcoming election, and while industry leaders are supporting candidates like Trump, Harris has begun to reach out to the sector but has yet to publicly state her position.

Bitget Hires Former Binance Policy Officer as Chief Legal Officer

• He will oversee compliance, work with regulators, and support the company’s market expansion.
• Ng joined Bitget in April and previously served as General Counsel and Head of Government Affairs and Policy at Binance, where he managed regulatory cooperation and payments globally.
• Prior to joining Binance, Ng worked at Uber, where he played a key role in Uber’s Southeast Asia operations and its $2 billion merger with Grab.

Crypto AI company Sahara Labs raises $37 million

• Pantera Capital and Polychain Capital jointly led the financing, bringing the total raised to $43 million.
• The platform aims to democratize AI development by promoting inclusion and privacy while ensuring fair compensation, data sovereignty, and secure trading of AI assets.

within the next 24 hours

• UK releases three GDP figures
• US New Unemployment Claims Announced

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