GM Brew Crew, its hump day (🐫) so pass us the baton and let Brewski get you through the week with a boost that only a coffee cup could give.

Lets Dive In ⬇️

On the menu today:

• 🤫 CHINA BULLISH ON CRYPTO? HONG KONG’S ACTIONS WOULD SUGGEST YES

• 👀 COINBASE CEO TO MEET WITH MEMBERS OF CONGRESS

• 😱 RFK TO BACK DOLLAR WITH BTC AND END BTC TAXES

Today’s Charts:

🤫 CHINA BULLISH ON CRYPTO? HONG KONG’S ACTIONS WOULD SUGGEST YES

Yat Siu the co-founder of Hong Kong-based Animoca stated that Hong Kong's swift embrace of cryptocurrencies and Web3 technology indicates significant developments occurring in mainland China.

Despite China's crypto ban, Siu firmly believes the Chinese government remains interested in the opportunities the crypto industry presents. Otherwise, Hong Kong wouldn't dare double down within the industry in the way we’ve seen.

Siu believes that crypto has China’s attention due to the fact that:

A. Web3 companies could replace what is currently US dominant tech companies

B. Provides potential de-dollarization catalysts as Web3 could reduce reliance on the US dollar, which currently serves as the global currency of the world.

Siu stressed it was no coincidence that China released a web3 report just a few days after Hong Kong officially announced plans to allow retail crypto investments.

👀 COINBASE CEO TO MEET WITH MEMBERS OF CONGRESS

Coinbase CEO, Brian Armstrong, plans to meet with members of Congress to discuss crypto legislation and related issues.

The meeting is set to take place behind closed doors on July 19th. The Brew Crew may have to pull some strings to get on the inside for that one…

The planned meeting is with the New Democrat Coalition, a House of Representatives group consisting of approximately 100 Democrats dedicated to promoting inclusive and innovative policies.

The discussion will cover topics such as digital asset legislation, the potential impact of technology on national security, privacy, and the climate.

😱 RFK TO BACK DOLLAR WITH BTC AND END BTC TAXES

Democratic Presidential Candidate Robert F. Kennedy Jr. unveiled a series policies that focused on Bitcoin during a Heal-the-Divide PAC event.

TWO main points to take away from RFK’s talk:

1. First, RFK suggested gradually backing the U.S. dollar with hard currency like gold, silver, platinum, or Bitcoin. He proposed starting with 1% of issued T-bills and increasing the allocation each year based on the initial outcomes.

2. Second, RFK promised to make Bitcoin profits exempt from capital gains taxes. This exemption aimed to promote innovation, encourage investment, protect citizen privacy, and discourage government control over free speech.

RFK believes that backing dollars with hard assets could strengthen the dollar, reduce inflation, and bring financial stability and prosperity to America.

He connected his support for Bitcoin to his Uncle, President John F. Kennedy, who recognized the risks of depending on fiat currency and its ties to war and wealth inequality.

Special Blend: Morning Meme Roast

As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!

***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.