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🇺🇸 Vitalik Buterin warns against supporting politicians solely based on their pro-crypto stance
Ethereum creator Vitalik Buterin cautioned the crypto community against supporting politicians solely based on their pro-crypto statements and expressed particular concern over a lack of support for “internationalism.” Buterin made the statements in a July 17 blog post, where he highlighted the “growing push” for members of the crypto space to become more political amid concerns about crypto regulation in the EU and US.
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🪙 Spot Ethereum ETFs likely to launch July 23: Sources
Spot Ethereum ETFs will likely begin trading on Tuesday, July 23, according to multiple sources. After Bloomberg Senior ETF Analyst Eric Balchunas posted on social media site X naming July 23 as the launch date, sources at two issuers confirmed to The Block the information in Balchunas's post. "Hearing SEC finally gotten back to issuers today, asking them to return final S-1s on Wed (incl fees)," Balchunas posted on X Monday.
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🪙 290,000 ETH Added to Liquid Staking Protocols Ahead of Spot ETF Launch
According to data, liquid staking protocols accumulated an additional 290,000 ether in the past 46 days. This increase raised the proportion of ETH in liquid staking protocols by 0.24%, bringing the total to 11.18% of Ethereum’s 120.2 million circulating supply. At the time of writing, 13.44 million ether is locked into liquid staking protocols, with Lido holding 72.3% of that amount. On May 29, Lido had 9.51 million ETH, which has increased to 9.71 million today.
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💰 Marathon Digital Bitcoin Mine Manager Acquitted of Noise Violations In Texas
David Fischer, who serves as a plant manager for a Bitcoin mine owned by Marathon Digital, a public Bitcoin mining company, has been acquitted of having responsibility for several noise complaints brought by citizens living nearby. The operation, located in Texas, is one of the least remote mines managed by the company.
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💰 Bitcoin ETFs achieve $15.5 billion in total inflows
Farside data shows that Bitcoin Exchange Traded Funds (ETFs) experienced another inflow, marking the fifth consecutive trading day of positive inflows. Bitcoin ETFs saw an inflow of $78.9 million. This trend was observed among the four largest ETF issuers, excluding Grayscale, which reported an outflow.
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🪙 Ethereum braces for spot ETF boost as 40% of supply remains locked
Approximately 40% of Ethereum supply is locked as the market anticipates the final approval for ETH spot-based exchange-traded funds (ETFs). A breakdown of this “locked supply” shows that over 33 million ETH is staked on the network, representing around 28% of Ethereum’s total supply, according to Dune Analytics data.
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🪙 Spot Ethereum ETF Launch Anticipated on July 18, Bloomberg ETF Analyst
Bloomberg ETF analyst Eric Balchunas predicted on X that July 18 would be the “best guess” for the spot Ethereum ETF launch. This comes after the Securities Exchange Commission (SEC) issued S-1 amendments, which required companies to amend their registration statements and submit their applications.
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💰 Metaplanet Announces Bitcoin Purchases Totaling Nearly $2.5 Million
Metaplanet, a Tokyo-listed public company, has disclosed it has completed bitcoin purchases amounting to 400 million yen (almost $2.5 million). The company, which vowed to use bitcoin as a strategic reserve asset to navigate the uncertainties of the Japanese economy and the devaluation of the yen, acquired 42.466 bitcoin at an aggregate price of $58,600 per bitcoin.
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🪙 Tron to develop gasless stablecoin transfers by Q4
Justin Sun, the founder of Tron, announced on July 6 in a post on X that his team is working on enabling gas-free peer-to-peer (P2P) stablecoin transfers. In a post on X, Sun noted that this would mean that stablecoin “transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves.” Sun, however, did not elaborate on how the gasless mechanism would work.
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💰 German Politician Criticizes the Government's Bitcoin Sell-Off Strategy
A pro-Bitcoin member of the German Bundestag, Joana Cotar, has publicly criticized the government's decision to sell off its substantial BTC holdings. Cotar's stance comes in the wake of hundreds of millions worth of Bitcoin being transferred from government wallets to exchanges and trading desks, signaling the commencement of a large-scale liquidation process.
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💰 Bitcoin’s bullish cycle questioned as price falls below 200-day moving average
Bitcoin price movements are influenced by various technical models that provide insight into market trends and potential future performance. As of July 4, Bitcoin has fallen below the 200-day moving average (DMA), which is currently at $58,373. The last time Bitcoin fell through this level was in August 2023. Since the beginning of 2024, Bitcoin’s price has shown a robust upward trajectory, peaking above $70,000 in March.
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🪙 Ethereum ETFs could come as soon as next week as Bitwise files amended S-1 early
Asset manager Bitwise has filed an amended S-1 form for an Ethereum exchange-traded fund several days ahead of its July 8 deadline, likely indicating the products are nearly ready for launch. Bitwise filed its updated registration form on Wednesday as some analysts say those products could begin listing in the next two weeks.
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🟠 Ripple and Coinbase aim to leverage judge's ruling in SEC's Binance case
Coinbase and Ripple Labs are looking to leverage their cases with the U.S. Securities and Exchange Commission by citing a recent order that gave Binance a win for how secondary sales of crypto are treated. Over the past few days, Coinbase and Ripple have pointed to a lack of clarity on how crypto is regulated in filings submitted in their respective cases.
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🔵 Circle becomes first stablecoin issuer to secure regulatory approval under MiCA
Circle announced on July 1 that it has received an e-money license from France, positioning it as the first global stablecoin issuer to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations. The license, issued by France’s financial regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), allows Circle to issue its stablecoins USDC and Euro Coin (EURC) across the EU under the new regulatory framework, effective immediately.
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🪙 SEC returns S-1 forms to Ethereum ETF issuers, with at least one more round to go: Source
The U.S. Securities and Exchange Commission returned the S-1 forms to prospective Ethereum ETF issuers in the latest round of back and forth before they go effective. The forms were handed back with light comments, according to a source at one issuer. The issuers have been asked to address the comments and refile them by July 8.
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🇪🇺 Stripe enables Bitcoin, Ether and Solana crypto purchase options in EU: report
Financial technology company Stripe has expanded its crypto integration into the European market, enabling shoppers to buy cryptocurrencies, including Bitcoin, Ether and Solana, using a credit or debit card. The decision by Stripe, founded by Ireland-born brothers Patrick and John Collison, is part of a move to make it easier for “normal transactions” to occur using digital assets, the Irish Independent reported on Tuesday.
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🪙 Tether taps Chainalysis' former Chief Economist to help communicate with regulators and stakeholders
Tether announced the appointment of Philip Gradwell — who previously spent six years at Chainalysis as the blockchain analytics firm’s Chief Economist — as the stablecoin issuer’s Head of Economics. Gradwell's responsibilities will include "quantifying the Tether economy and communicating the ways Tether is used to regulators and stakeholders," according to a press release.
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🪙 Tether (USDT) Loses Ground on Centralized Exchanges, Down to 74% Market Share
Even with several high-profile collapses and de-pegging events in recent years, stablecoins have continued to capture market share from fiat, reflecting strong demand increasingly. Although the stablecoin market is still highly concentrated, with Tether’s USDT at the forefront, its dominance has been eroding over the last two years. In 2024, USDT’s market share on centralized exchanges (CEXs) dropped from 82% to 74% per Kaiko’s estimates.
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💰 Bitcoin miner Bitfarms sets vote date on Riot's attempted takeover step
Bitcoin miner Bitfarms has set Oct. 29, 2024, as the date for a special meeting of its shareholders to vote on reconstituting its board of directors following Riot Platforms’ requisition for the meeting on June 24. Bitfarms shareholders as of the record date of Sept. 26, 2024, are entitled to vote at the meeting, the firm said in a statement on Friday, but are not required to take any action at this time.
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🇺🇸 CFTC Chair Pushes for Federal Legislation to Regulate Bitcoin and Ether as Commodities
During his Senate testimony, the chairman of the Commodity Futures Trading Commission (CFTC) emphasized the necessity of federal legislation to regulate digital commodities such as bitcoin and ether. Citing market volatility and fraud, the chairman advocated for expanded regulatory powers to safeguard investors and maintain financial stability. He also referenced a recent court ruling that reaffirmed the status of the two largest cryptocurrencies as commodities.
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💰 Bitcoin whales are accumulating at their fastest rate since April 2023: CryptoQuant
Bitcoin long-term holders are adding to their holdings at the fastest monthly rate since April 2023, according to CryptoQuant analysts. "Bitcoin whales have been increasing their holdings at a monthly growth rate of 6.3%, the fastest pace since April 2023, indicating rising demand for bitcoin," CryptyQuant said. Wednesday's market report from the analytics firm noted that the increase in bitcoin demand from long-term holders is supporting the digital asset's price.
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🇩🇪 German receives small CoinJoin deposits amid ‘negligible’ $326 million Bitcoin sales
The German government’s Bitcoin wallet received a small amount of Sats from a CoinJoin address amidst its significant selling activity. On-chain data from the crypto analytical platform Arkham Intelligence revealed that the German government wallets received less than $10 in three transactions from CoinJoin addresses today.
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🇩🇪 German government continues to transfer thousands of bitcoins to exchanges and market makers
The German government transferred 133.722 bitcoins to market maker Cumberland DRW today before sending 150 coins to crypto exchange Kraken and 1,000 coins to the B2C2 Group, according to blockchain analytics platform Arkham. It also transferred 300 bitcoins to Coinbase and 300 bitcoins to Bitstamp, as well as 1,000 bitcoins to market maker Flow Traders.
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🚨 Peter Schiff: Bitcoin Bear Market Has Much Further to Go, Ether to Crash to $1,500
Economist and gold advocate Peter Schiff warns of a continued bitcoin decline, stating that “this bear market is a long way from over.” He predicts significant price falls for both bitcoin and ethereum, suggesting a potential crash if critical support levels fail. “It’s a long way down,” he said. Regarding ether, Schiff predicted: “I think a crash down to $1,500 is coming.”
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🇩🇪 German MP slams government’s bitcoin sell-offs, urges holding as a strategic reserve
Member of the German Bundestag, Joana Cotar, has heavily critcized the government’s decision to “hastily” sell the bitcoin in its possession, urging it to develop a comprehensive bitcoin strategy. “Instead of holding bitcoin as a strategic reserve currency, as is already being debated in the USA, our government is selling on a large scale,” the independent MP and bitcoin advocate wrote on Thursday, according to a translated X post.
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📊 Crypto market sees $295 million in liquidations across exchanges over past 24 hours
Bitcoin has been beset by heavy selling pressure in the past 24 hours, causing the digital asset to fall below the $60,000 support level and reaching a recent low of around $57,800. There were over $77 million in bitcoin long liquidations across centralized exchanges in the past 24 hours — out of a total of $92 million in liquidated BTC positions, according to data from Coinglass. The broader cryptocurrency market saw over $295 million in liquidations on centralized exchanges, with around $259 million in long positions.
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💰 Lido sees around 100k increase in staked Ethereum amid SEC scrutiny
Lido has reported a rise in staked Ethereum on its platform despite the US Securities and Exchange Commission (SEC) classifying its staking programs as securities in its lawsuit against Consensys. A July 2 report showed that Lido users staked an additional 95,616 ETH between June 24 and July 1. This increased the total value of assets staked on the platform by 1.26%, reaching $33.48 billion.
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📊 Robinhood looking to list crypto futures in the coming months: Bloomberg
Robinhood is reportedly looking to leverage its impending Bitstamp acquisition to expand further into the futures market with crypto contracts. Robinhood Markets wants to launch CME-based Bitcoin and Ether futures in the U.S. and would use Bitstamp's licenses to offer perpetual futures for Bitcoin and other tokens in Europe, Bloomberg reported citing people familiar with the matter.
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🇯🇵Sony expands into crypto with the acquisition of Amber Japan
Sony Group, a leading conglomerate in Japan, is set to launch a crypto exchange following its acquisition of Amber Japan. This acquisition comes over two years after the Singapore-based Amber Group acquired DeCurret, a regulated Japanese crypto exchange, and rebranded it as Amber Japan. Reports revealed that the exchange faced significant challenges in 2022 due to its exposure to the collapsed FTX exchange, leading to substantial losses.
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⚫️ 21Shares becomes second major firm to apply for a spot Solana ETF this week
Asset manager 21Shares has filed for a spot Solana exchange-traded fund (ETF), marking the second such application from a major firm this week. The proposed 21Shares Core Solana ETF is designed to track the performance of Solana (SOL) by aggregating the notional value of SOL trading activity across major spot exchanges, according to the S-1 registration form filed with the US Securities and Exchange Commission (SEC).
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