Trump Chooses Pro-Crypto VP Candidate; Kraken Signs Deal With Tottenham Hotspur

Trump chooses a crypto friendly VP candidate and crack in signs a sleeve sponsorship deal with the Premier League Club Spurs. You're watching Coin Desk daily. I'm your host, Jen Sani. Former President, Donald Trump has chosen Senator JD Vance of Ohio as his vice presidential candidate. The hillbilly elegy author and venture capitalist was a favorable choice among the crypto space given his friendliness towards the industry and previous efforts to bring clearer legislation. According to a report from Politico, he most recently drafted a bill that would revamp how the US regulates digital assets. Vance has not disclosed buying or selling any cryptocurrencies in his most recent Senate financial disclosure. Though in 2022 he did disclose that he held between $350,000 worth of Bitcoin crypto is back in the game of sports sponsorships. Kraken has become the sleeve sponsor of Tottenham Hotspur in a multi season agreement. Last week, the Crypto exchange and a similar deal with Spanish team Atletico Madrid, meaning the company now has a presence in both England's Premier League and Spain's La Liga. Krin is said to be in talks to raise $100 million in funding by the end of the year ahead of a potential IP O Spurs and Atletico may boost its plans given the visibility it will now enjoy in two of the most popular soccer leagues in the world. And either hedging activity picks up as the US ETF debut nears the impending debut. Has investors scrambling to the options market to hedge or protect existing market positions from price swings, implied volatility or options derived market expectations for price turbulence over a specific period has ticked higher across time frames. That's according to data sources, Derbi and Ko now that's a sign of increased demand for options or derivatives offering protection against price swings. A call protects against price rallies while a put offers insurance against price slides. Kio analysts said in a newsletter that the increase in implied volatility on the July 19th contract suggests traders are willing to pay more to hedge existing positions and protect against sharp price moves in the short run. This spike in midterm contracts implied volatility indicates a level of uncertainty among traders. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.