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💰 Bitcoin Miner Northern Data AG Announces 20% Capital Increase With a $233M Investment From Tether
On Monday, Northern Data AG said it has resolved to increase its share capital by 20%, planning to raise €214 million ($233 million) through the issuance of new shares. The company aims to enhance its cloud platform and expand its data centers in Europe and the United States.
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💰 Bitcoin ATM Scams on the Rise: North Carolina AG Issues Warning and Tips to Stay Safe
North Carolina Attorney General Josh Stein has issued a warning about bitcoin ATM scams, following numerous complaints. The alert outlines tips to avoid such scams, emphasizing caution with unsolicited requests for cryptocurrency payments, online relationships turning financial, verifying investment advice, and avoiding get-rich-quick schemes. Victims are urged to report scams to local law enforcement and the Consumer Protection Division.
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💰 Northern Data saw revenue drop to €77.5 million, mined 2,298 BTC in 2023
Northern Data Group reported a net revenue of €77.5 million for the 2023 fiscal year, down from €193.3 million in 2022. The firm’s total income for the period stood at €111.0 million, compared to €249.5 million in the previous year. The company’s adjusted EBITDA stood at negative -€5.5 million, aligning with market expectations, following substantial investments in HPC applications and infrastructure.
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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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🇺🇸 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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🇺🇸 Trump emboldens support from Republican voters with pro-crypto stance, survey finds
Republican presidential candidate and former US President Donald Trump has garnered increased support from his party following his recent embrace of cryptocurrencies, according to a new Paradigm-sponsored survey. Last month, Paradigm, a crypto-focused venture capital firm, polled 1,025 likely Republican voters’ views on the emerging industry, revealing their deep trust for the current financial system and their support for Trump.
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🪙 Bloomberg analyst calls July 18 ‘best guess’ for ETH ETF launch amidst S-1 amendments
Spot Ethereum (ETH) ETF applicants amended their registration statements as Bloomberg ETF analyst Eric Balchunas predicted a launch date. On July 8, Balchunas said his “best guess” for the fund’s launch is July 18 but declined to make an over/under prediction as SEC plans remain unclear. Balchunas described the changes in the latest amendments as minimal.
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🟠 Witness in Nigerian trial against Binance accuses platform of contravening Central Bank rules
Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), accused Binance of conducting transactions reserved for authorized banks and financial institutions on Friday, according to a local media report. Akinwumi’s accusations were part of his testimony in the lawsuit brought by the Economic and Financial Crimes Commission (EFCC) against Binance and its executive, Tigran Gambaryan.
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💰 Bitcoin traders eye Trump victory as potential market boost – FT
Former President Donald Trump’s potential return to the White House is expected to trigger a significant surge in Bitcoin’s value, the Financial Times reported July 5, citing various analysts. According to the FT, the concept of a “Trump trade” is increasingly gaining traction among crypto traders due to the former President’s “perceived pro-crypto stance and policies.”.
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🇰🇷 South Korea to tighten crypto exchange oversight with new monitoring system
South Korea’s Financial Supervisory Service (FSS) plans to tighten oversight of crypto trading platforms under its jurisdiction to eliminate fraudulent transactions. In a July 4 notice, the regulator announced that local exchanges must establish a “continuous monitoring system for unfair transactions” and report “abnormal transactions” via a dedicated transmission line.
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💰 Riot Platforms boosts bitcoin mining production by 19% in June as Marathon Digital sees slight decline
Bitcoin mining firms across the industry have released statistics detailing their mining activity and energy consumption in June, as the companies continue to respond to the dramatic shift from April's halving event with greater investment in the latest-generation infrastructure and long-term energy procurement deals. Riot Platforms managed to outperform its bitcoin mining activity from May with a 19% increase in the number of bitcoin mined month-over-month, earning 255 BTC in June compared to 215 BTC in May.
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🪙 Galaxy expects spot Ethereum ETF in July, is optimistic about more crypto ETFs
Galaxy Digital head of asset management Steve Kurz said the SEC could approve a spot Ethereum ETF before the end of July and described prospects for other crypto ETFs. Kurz said Galaxy has worked with the SEC on applications for months and noted the firm’s upcoming spot Ethereum ETF is similar to its existing spot Bitcoin ETF (BTCO). Galaxy created both funds in partnership with the investment management firm Invesco.
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💰 VanEck’s Matthew Sigel confirms Solana ETF is a bet on Trump victory
VanEck Head of Digital Assets Research Matthew Sigel confirmed speculation that the company’s Solana spot ETF proposal bets on Donald Trump winning the US presidency. The deadline for VanEck’s application is set for March 2025, which would put it well beyond the aftermath of the US Presidential elections in November. Another issue seen as a hurdle to potential Solana ETF is the lack of a futures market on CME, which experts believe was a key factor in spot Bitcoin and Ethereum ETFs gaining the regulatory green light.
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📊 Number of crypto ATMs installed nears its all-time record
The number of cryptocurrency ATMs installed worldwide has spiked 17.8% to 38,279 over the last 12 months — inching closer to its record of 39,541 set in December 2022. As of 2024, there have been 2,564 new cryptocurrency ATMs installed, indicating a positive trend compared to the net loss of 2,861 machines in 2023, according to Coin ATM Radar.
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🇺🇸 Trump to Address Bitcoin 2024 Conference Despite Assassination Attempt
Former President Donald Trump, who survived an assassination attempt during a rally in Pennsylvania on July 13, is reportedly still scheduled to address the Bitcoin 2024 Conference, taking place in Nashville from July 25 to July 27. According to David Bailey, CEO of Bitcoin Magazine and cryptocurrency advisor to the Trump campaign, he spoke with Trump’s team after the incident and was informed of the former President’s intention to attend.
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🏦 Judge Criticizes Coinbase’s Attempt to Subpoena SEC Chair Gary Gensler
In a July 11 hearing, Judge Katherine Polk Failla expressed skepticism about Coinbase’s efforts to subpoena SEC Chair Gary Gensler in the ongoing SEC case against the cryptocurrency exchange. As detailed by Inner City Press, the hearing showcased Coinbase’s persistent efforts to acquire Gensler’s communications, including statements made before he became SEC Chair in 2021.
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🟠 Seven Years of Binance: CEO Richard Teng Shares Insights on Achievements and Future Goals
Binance is celebrating its seventh anniversary, reflecting on its growth and achievements in the rapidly evolving cryptocurrency industry. In an open letter, Binance CEO Richard Teng shared his insights and perspective on the company’s journey and future.
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🪙 Ethereum ETF issuers eagerly waiting on the SEC to provide details on potentially final filings: Sources
Prospective Ethereum ETF issuers are eagerly waiting on the U.S. Securities and Exchange Commission to provide updates on the pending launches after handing in their latest S-1 forms on July 8. "The next step would be to hear from the SEC on what's next. Do they want final drafts? by when?" said a source at one issuer. They noted that what they hear from the agency next will be highly informative.
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🪙 Ethereum leads crypto majors in rally amid Fed Congressional testimony
Ethereum led an uptick of crypto majors on Tuesday, as equity indices gained amid U.S. Federal Reserve Chair Jerome Powell's Congressional testimony. The second largest digital asset by market cap's price increased by over 3% in the past 24 hours and was changing hands for $3,069 at 12:03 p.m. ET, according to The Block’s Price Page. Bitcoin posted a 2.5% increase, and major altcoins such as BNB and Solana increased 2.2% and 2%, respectively.
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🇩🇪 German Government Prepares To Sell Another $900 Million In Bitcoin
The government of Germany began readying for its biggest Bitcoin dump yet on Monday, sending $900 million worth of the digital currency to trading venues. It stated the government sent 2738.7 BTC ($155.3 million) to “likely exchanges and market makers” including Kraken, Cumberland, an unidentified address, and an address likely related to an institutional or over-the-counter (OTC) trading service. Cumberland and the unidentified address were first-time recipients of government coins.
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💰 Bitcoin OTC desk balances hit over 300,000 BTC
Bitcoin’s total OTC desk balance demonstrates notable trends correlated with price fluctuations. The chart from CryptoQuant highlights the relationship between Bitcoin price movements and OTC desk balances, which have shown significant activity throughout 2024. The recent surge in OTC desk balances reaching over 300,000 BTC aligns with Bitcoin’s price hitting around $55,000.
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🪙 Tron develops gas-free stablecoin for Ethereum and Tron chains
Tron founder Justin Sun has revealed that his team is building a gasless stablecoin solution to make peer-to-peer transfers free for all. Sun hopes to integrate the stablecoin solution on the Tron blockchain in the fourth quarter, followed by Ethereum and other Ethereum Virtual Machine-compatible public chains soon after. “Transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves,” Sun explained in a July 6 X post.
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💰 Bitfinex says bitcoin faces low liquidity as institutional participation wanes during summer
Fewer institutional participants are actively trading in the market due to summer vacations, leading to lower liquidity, according to Bitfinex. Bitcoin sell pressure has been exacerbated by fund managers being away on vacation for the for the summer, making the market very illiquid," Bitfinex analysts told The Block. The analysts added that data shows profit taking is continuing from the long-term bitcoin holder cohort.
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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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🇺🇸 US Treasury and IRS finalize crypto broker tax reporting rules
The US Treasury and IRS released final regulations defining the new reporting requirements for digital asset brokers on June 28. Crypto brokers, including exchanges, will need to report gross proceeds for crypto sales starting from 2026. This will include crypto sales during 2025. Furthermore, brokers will need to report information about the tax basis of some cryptos starting in 2027 for sales that occurred in 2026.
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