🇪🇺 EU crypto sector faces disruption from next week's MiCA rules targeting stablecoin activity: analyst
The upcoming Markets in Crypto Assets framework will enforce stringent regulatory requirements for stablecoin activity in the European Union that could adversely impact the bloc's cryptocurrency sector, an analyst said. From next Monday onwards, stablecoin activity in the EU must comply with the new requirements following the partial implementation of MiCA across the entire bloc. Outlier Ventures Head of Research Jasper De Maere said that, because the majority of all stablecoins are USD pegged.
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@TradeCryptoNow
🇩🇪 German government sends further $24 million in bitcoin to Coinbase and Kraken: Arkham
German government-labeled addresses appeared to send another 400 ($24.34 million) to Coinbase and Kraken Tuesday morning, indicating a potential intention to sell the assets and following substantial transfers of its seized bitcoin last week, according to on-chain analytics provider Arkham. “They have also moved 500 BTC ($30.4 million) to address 139Po. We have yet to see where these funds are moved” Arkham posted on X.
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@TradeCryptoNow
⚡️⚡️⚡️⚡️⚡️⚡️: 🚨 Julian Assange has reached a plea deal with the U.S., allowing him to go free❗️
🤝 @Cryptocurrency_Inside ✅
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💰 Metaplanet to issue $6.26M in bonds for Bitcoin purchase, shares up 12%
Metaplanet announced plans to issue 1 billion yen ($6.26 million) in bonds to fund additional Bitcoin purchases, according to a June 24 notice. Following the news, Metaplanet shares surged 12% to 96 yen ($0.60), continuing an uptrend that has seen it gain over 500% this year, according to Google Finance data. The company’s board has approved the decision, and the Bitcoin is intended for long-term holding.
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@TradeCryptoNow
🇺🇸 Blockchain advocacy group raises privacy concerns over IRS crypto tax form
The Chamber of Digital Commerce, a leading trade association in the blockchain industry, has submitted its feedback on the United States Internal Revenue Service’s (IRS) proposed Form 1099-DA, which is intended for reporting digital asset transactions. The chamber’s detailed response highlights the need to simplify the form, making it more straightforward for brokers dealing with digital assets such as cryptocurrencies to use.
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@TradeCryptoNow
🇬🇧 FCA Cracks Down on Suspects in $1.2B Illegal Crypto Asset Business
Two individuals were detained and questioned by the UK Metropolitan Police and the Financial Conduct Authority (FCA) for allegedly running an illegal cryptocurrency operation exceeding 1 billion British pounds ($1.2 billion) in the region. According to the Financial Conduct Authority (FCA), a substantial amount of crypto assets has flowed through this cryptoasset business. The FCA emphasized key registration requirements for crypto businesses and issued consumer warnings.
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@TradeCryptoNow
🪙 Spot Ethereum ETF issuers post fee and seed investment disclosures in latest wave of amended filings
Firms fighting for a foothold in the Ethereum exchange-traded fund market submitted their amended registration statements in the last hours of the workweek. These filings furnished further details on seed investments and fees as they await the Securities and Exchange Commission's final sign-off. BlackRock, VanEck, Franklin Templeton, Grayscale Investments, Invesco Galaxy and 21Shares filed those amended statements Friday afternoon. So far, two of the issuers have disclosed fees.
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@TradeCryptoNow
🇩🇪 German Government Agency Moves $425M Bitcoin, Some to Crypto Exchanges
A German government agency today moved $425 million in bitcoin (BTC) to another wallet address, Arkham data appears to show, sending some on to crypto exchange deposit wallets and returning some to the starting point. The wallet address, previously identified as belonging to the German Federal Criminal Police Office (BKA) by Arkham, moved 6,500 BTC to the address “bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd” and then back to itself.
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@TradeCryptoNow
🪙 Ethereum ETF issuers working to address 'reasonable' comments from SEC by Friday: Sources
Prospective spot Ethereum ETF issuers received comments from the SEC last week regarding their S-1 forms with a deadline of this Friday to get them turned around, according to two sources. While the issuers saw their 19b-4 forms approved in May, they still need the S-1 forms to become effective before trading can begin — a process with no strict deadline. These forms are currently being reworked and sent back to the SEC for further comments before being reworked again until they’re ready.
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@TradeCryptoNow
JUST IN: 🪙 Tether introduced Alloy, the first Tethered Asset. aUSD₮ is over-collateralised on-chain by Tether Gold XAU₮, merging the dollar utility with the millennial store of value gold
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🪙 Crypto Investments Hit $1 Billion in May With Ethereum Dominating: KuCoin
KuCoin exchange’s research arm released a report on cryptocurrency performance in May, noting $1 billion in new investments – a slight decrease from April. Earlier this week, KuCoin Research published a report indicating that in May alone, the crypto realm saw a public disclosure of about 156 investments. The total amounts invested in the 156 projects summed up to about $1.02 billion.
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💰 World's Largest Bank ICBC Sees Bitcoin as Digital Gold — Calls 🪙 Ethereum 'Digital Oil'
The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by total assets, recently compared bitcoin to digital gold and labeled Ethereum “digital oil” in a report. The bank emphasized the roles of these cryptocurrencies in the digital economy and their contributions to technological advancements.
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@TradeCryptoNow
🇮🇪 Crypto Exchange Crypto.com Secures Spot on Ireland's Virtual Assets Service Provider Register
Crypto.com received approval to register as a virtual asset service provider in Ireland, allowing the crypto exchange to operate in the European Union nation. The company was listed on the register as of June 7 under the name Foris DAX, the Central Bank of Ireland's website shows. Crypto.com will now be able to offer crypto-to-fiat exchanges and fiat wallets, the company said in a statement.
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@TradeCryptoNow
📊 Crypto on ‘slow and steady’ pace to mainstream adoption – Canaccord Genuity
Mainstream adoption of digital assets has been steadily increasing, driven by significant regulatory advancements and rising institutional interest, according to Canaccord Genuity research. According to Canaccord’s research report, the mainstream adoption of digital assets is anticipated to continue driving growth in the sector, with Galaxy Digital well-positioned to capitalize on these evolving trends.
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@TradeCryptoNow
🏦 Bybit surpasses Coinbase to become second largest crypto exchange by volume – Kaiko
Bybit crypto exchange has surged to become the second-largest exchange by volume, surpassing Coinbase, according to data from Kaiko. Since October 2023, Bybit has doubled its market share from 8% to 16%, while Binance, although still the leader, has seen its share drop from 60% to 54%. Kaiko attributes an increase in market volume to the January launch of spot bitcoin ETFs, significantly boosting overall crypto trading volumes.
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@TradeCryptoNow
🏦 Coinbase could face regulatory challenges over alleged ‘tailored accounting metrics’ under new FASB rules
Coinbase could face regulatory challenges over its compliance with new FASB accounting rules that shift the accounting and disclosure for crypto to a fair-value model from a cost-less-impairment model, MarketWatch reported on June 24, citing accounting experts. The rules were agreed upon by the FASB in 2023 and will officially take effect in 2025. However, firms are allowed to adopt the standards early, and some, including Coinbase, have already done so.
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@TradeCryptoNow
🚨🚨 JUST IN: 🇪🇸 Barcelona to ban AirBNB and other apartment rentals for tourism by 2028, citing soaring housing costs for residents.
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💰 Twitter founder Jack Dorsey gives presentation in Italy on how Bitcoin is permission-less freedom money 🇮🇹
“It could potentially be a compliment or replace the US dollar, which rules everything.”
- Jack Dorsey
🤝 @Cryptocurrency_Inside ✅
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🟠 Nigerian government defends treatment of imprisoned Binance executive after visit from U.S. lawmakers
U.S. lawmakers in recent weeks have called attention to the Nigerian government's treatment of detained Binance executive Tigran Gambaryan, who's been held by the African country since February on charges of money laundering and tax evasion. The Nigerian government, through a statement posted to the X account of its Minister of Information and National Orientation, Mohammed Idris, has called the allegations of poor healthcare "false," asserting that Gambaryan "...has access to quality medical care whenever required" along with consular services from his home government of the United States.
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@TradeCryptoNow
🥇 Spot ETF basis trades driving 80% surge in CME bitcoin futures open interest, analyst says
Institutional investors are using spot bitcoin exchange-traded funds (ETFs) and the CME bitcoin futures market for basis trades, causing a sharp increase in open interest. "Spot bitcoin ETFs have contributed to an 80% increase in open interest on the CME bitcoin futures market year-to-date," CF Benchmarks lead research analyst Gabriel Selby told The Block.
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@TradeCryptoNow
🪙 Bitwise Investments Updates Ethereum ETF Filing, Reveals $2.5M Seed Interest
Bitwise Investments, a prominent cryptocurrency asset management firm that offers diverse investment products and services focused on digital assets, has updated its ether-based exchange-traded fund (ETF) S-1 filing with the U.S. Securities and Exchange Commission (SEC), revealing $2.5 million in seed investment interest.
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@TradeCryptoNow
💰 US-listed Bitcoin miners hit record $22.8 billion market cap amid stock surge
Publically traded Bitcoin mining companies in the US briefly reached a combined market cap of $22.8 billion on June 15 amid a surge in their stock price during June. According to a recent analysis by JP Morgan, the growth is driven by an increase in network hashrate share and diversification into artificial intelligence (AI) data center ventures.
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@TradeCryptoNow
🥇 Bitcoin transaction fees will surpass block subsidy predicts Marathon CEO Fred Thiel
Fred Thiel, CEO of Marathon Digital Holdings, shared his insights on several critical aspects of the Bitcoin landscape, focusing on transaction fees, hash rate resilience, and global expansion initiatives. Thiel highlighted the conditions of Bitcoin transaction fees, noting that large payloads requiring prioritization drive higher fees. He emphasized that transaction volume in the mempool is the primary driver, with various value-added services built on top of base transaction fees.
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@TradeCryptoNow
💰 NiceHash and Marathon partner to launch new firmware for miners
NiceHash, a leading Bitcoin hashing power marketplace, has partnered with Marathon Digital Holdings to introduce new custom firmware for ASIC miners on its platform. The new product, NiceHash Firmware, will leverage Marathon’s technology to enhance the efficiency and revenue of Bitcoin miners using ASIC devices. Miners who adopt this firmware will benefit from a low fee of 2%, which drops to 1.4% if they use NiceHash as their primary mining pool.
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@TradeCryptoNow
🇺🇸 Crypto exchange Gemini to pay $50 million in settlement with NY attorney general's office
Crypto exchange Gemini agreed to pay $50 million worth of digital assets to Gemini Earn investors as part of a settlement announced by the New York Attorney General on Friday. The settlement comes after NYAG Letitia James said Gemini "misled thousands of investors," including New Yorkers, on risks tied to the Gemini Earn program. Gemini Earn allowed Gemini customers to loan their crypto to now-bankrupt Genesis Global Capital, LLC, and earn up to 7.4 percent APY.
Source
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💰 Glassnode says institutional cash-and-carry trades are influencing US spot bitcoin ETF flows
Glassnode analysts said on Wednesday that a major factor affecting demand-side pressure for U.S. spot exchange-traded funds is institutional traders adopting a cash-and-carry arbitrage strategy. According to analysts, since traders are buying bitcoin spot and immediately hedging it by selling bitcoin futures, this could reduce the immediate upward pressure on the spot price that would otherwise be seen if they were only buying the spot asset.
Source
@TradeCryptoNow
💰 Polygon community treasury announces grants program for builders, initially distributing 35 million MATIC
A Polygon community treasury has announced a long-term plan to spur development on the blockchain that involves unlocking 1 billion tokens over a decade. "After community consensus, the Community Treasury has been created, with 1 billion POL unlocked over 10 years, with [approximately] 100 million POL per year, all for builders," the treasury said in an announcement. POL is set to become Polygon's native token, replacing MATIC eventually.
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@TradeCryptoNow
💰 Short-term holder realized price nears $64,000, signaling Bitcoin uptrend
The Realized Price metric offers a comprehensive overview of the average on-chain acquisition price for the entire Bitcoin circulating supply. By analyzing Short-Term and Long-Term Holder heuristics, we can determine the realized price for different investor cohorts. These coins are the most likely to be spent soon. Conversely, Long-Term Holders (LTH) represent coins not moved within the last 155 days, indicating the least probable coins to be spent.
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@TradeCryptoNow