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Here’s what we’ve scraped the net for you today:

• Policy Official Asserts: Retail CBDC Unnecessary for the US

• Former Goldman Sachs Executive Forecasts Cryptocurrency Reaching $10 Trillion Valuation Following Influx of Family Offices and Institutions

• 5 AI Tools

• Rookie’s Corner: What is an Oracle in Crypto?

Policy Official Asserts: Retail CBDC Unnecessary for the US

Republican Rep French Hill from Arkansas has brilliantly added his voice to the symphony of policymakers rejecting the audacious notion of a Central Bank Digital Currency (CBDC). He's gone above and beyond by introducing a bill that slams the door on the Federal Reserve's digital currency dreams unless they receive a direct nod from Congress.

Oh, but let's not forget the accolades he showered upon the Federal Reserve's attempts to modernize the payment landscape with FedNow. It's as if he's saying, "Great job, guys, but let's keep this whole CBDC thing on the back burner, shall we?"

But wait, here's the pièce de résistance: He doesn't see a point in introducing a CBDC in a sophisticated market like the US. Private sector innovation with dollar-based stablecoins should take the lead, because who needs government-backed digital currency when you can have an array of stablecoins that promise the moon and the stars?

Hill's wisdom extends to demanding that any CBDC development should be wrapped up neatly in a legal package, complete with the golden seal of Congressional approval. After all, why leave the fate of digital currency in the hands of technological misunderstanding when we have the wise and all-knowing Congress to guide us?

And let's not forget the cherry on top🍒 - Fourth Amendment protections. Hill knows that we're all just losing sleep over the thought of centralized digital currency invading our digital lives, and Congress is here to protect us from the perils of convenience.

But don't be fooled, he's not a lone warrior in this brave battle against the CBDC onslaught. With allies like Federal Reserve Governor Michelle W. Bowman and Republican Congressman Warren Davidson, who have raised their voices against the digital dollar, it's clear that the skepticism surrounding CBDCs is spreading like wildfire 🔥.

So there you have it, ladies and gentlemen. As the debate around CBDCs gets hotter than a summer in Arkansas, French Hill's bold stance and legislative proposal have cemented the fact that Congress will steer our digital currency destiny, whether we asked for it or not. The saga continues, and who knows what other exhilarating chapters await in this thrilling tale of digital dollars and decentralized dreams?

Former Goldman Sachs Executive Forecasts Cryptocurrency Reaching $10 Trillion Valuation Following Influx of Family Offices and Institutions

The clairvoyant Raoul Pal, a former Goldman Sachs executive, has bestowed upon us his magnanimous prediction that the world of cryptocurrencies is about to ascend to the almighty peak of $10 trillion in market capitalization. Why? Apparently, institutions are just dying to dive into this captivating digital asset wonderland.

In a riveting tête-à-tête with Binance's very own Michela Silvestri, Pal, the macro guru, has graced us with his enlightened perspective. According to him, after the intrepid pioneers known as family offices – those brave risk-takers – venture forth into the realm of crypto, the financial institutions, known for their fearless appetite for risk (insert eye-roll here 🙄), will surely follow suit.

Pal, who clearly has a crystal ball that can foretell such prophetic insights, believes that during the upcoming bull market (or as he calls it, the "mass onboarding of institutions" extravaganza), we will witness institutions being sucked into this vortex of digital fascination. Why? Because, you know, they've all been doing some "work" behind the scenes, and they just need a little nudge of "price confirmation" to finally grace us mere mortals with their presence.

Apparently, family offices were the trailblazers because they had the audacity to do whatever they pleased with their own money. But hold on to your hats, for Pal predicts that these stodgy institutions, led by the likes of BlackRock, will offer their precious clients a magical ticket to the crypto carnival. This, of course, will result in a grand crescendo of institutional dollars flowing into the space via a plethora of convoluted mechanisms, making the market cap balloon into the majestic $10 trillion territory.

In essence, dear reader, let us all bow to the genius of Pal as he unveils the secret sauce that will turn the crypto market into a $10 trillion beast, all thanks to those ever-so-daring institutions, who, as we all know, are renowned for their bold and revolutionary moves. Bravissimo!

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💰Rookies’ Corner📈

What is an Oracle in Crypto?

SEC charges former corrections officer for role in bizarre crypto scam 
John A. DeSalvo allegedly solicited ICO money from police and orchestrated a pump and dump on PancakeSwap shortly after.

Crypto Inflows Soar After BlackRock’s ETF Move  
Before BlackRock applied for an ETF in June, European and global crypto exchange-traded products (ETPs) saw a decline in funds, but the trend was reserved after a surge of inflows.European crypto ETPs witnessed inflows of 150 million (about $160 million) in June, marking their best performance since March 2022. These inflows almost balanced out the 100 million outflows in May and 60 million in...

Shopify Customers Can Now Pay In USDC Via Solana Pay
Solana Pay, the payment protocol built on the Solana blockchain, is now plugged into e-commerce giant Shopify, allowing users to pay in USD Coin (USDC), the companies announced Wednesday.

Why is the crypto market down this week?
Rising interest rates, delayed Bitcoin ETFs, global financial turmoil and other regulatory pressures are contributing to the crypto market’s underperformance.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.