GOP Platform Policy Includes Crypto

• GOP adds crypto to its 2024 platform.

• SSV Network reaches 1 million staked ETH.

• Celo launches CEL2 on testnet.

• Asset issuers file amended S-1s.

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The Republican Party Platform officially included crypto in its 2024 policy. The policy commits to championing innovation by supporting the right to mine Bitcoin, the right to self-custody, and the freedom to transact without government control. It also opposes the current administration's crypto crackdown and the creation of a Central Bank Digital Currency (CBDC). The GOP's 2024 policy platform has been adopted by the RNC committee, making it the first American political platform to include cryptocurrency. A political party platform outlines the goals and values supported by a party, detailing its viewpoints on various individual topics.

SSV Network now secures over 1 million staked ETH, worth over $3 billion, across its distributed validator network. Since its mainnet launch in December 2023, the network has grown to over 700 node operators, including solo stakers and pooled operators like Lido and EtherFi. SSV Network only takes a 2% commission from operators. SSV Network is a permissionless staking protocol that enables anyone to run a distributed validator node. By splitting validator keys into keyshares and distributing them to multiple nodes, the network enhances Ethereum fault-tolerance and eliminates single points of failure. Stakers can optimize their setups to reduce costs.

Celo successfully launched the Dango testnet, the first implementation of its CEL2 layer 2 network built on the OP Stack. The testnet retains all historical data from Celo’s previous testnet, enabling developers to transition their projects to the new network. CEL2 uses EigenDA for data availability, aiming to offer lower transaction fees. The Dango testnet features 2-second block times, increased throughput, 1-block finality, SocialConnect, and fee abstraction with support for ERC-20 tokens as gas payments. Infrastructure providers are working to enable support for the new network. Celo plans to launch the CEL2 network to mainnet as early as Winter 2024.

VanEck and 21Shares filed amended S-1 forms earlier today, which now await feedback or approval from the SEC. The submission marks the fifth amendment made in the past several weeks. Approval of the Form S-1 filings is required before Spot ETH ETF trading can begin. In total, six asset issuers have updated their S-1s and are awaiting approval, which could be granted by the end of July.

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