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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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💰 Bit Digital, Iris Energy report declining Bitcoin output, rise in hash rate YoY

Bit Digital and Iris Energy reported June Bitcoin (BTC) mining results on July 5, posting one-year hash rate increases alongside reduced BTC output since April. Bit Digital reported a hash rate of 2.57 exahashes per second (EH/s) as of June 30, up from 2.54 EH/s in May and 1.78 EH/s in June 2023. The firm produced 61.7 BTC in June, down 2.5% from May. In earlier reports, the company said it produced 63.3 BTC in May and 119.3 BTC in April.

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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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🏦 KuCoin to enforce 7.5% VAT on Nigerian trades amid regulatory changes

Crypto exchange KuCoin said it would start collecting a 7.5% value-added tax on trading fees from its Nigerian users on July 8. The platform explained that the 7.5% fee would be applied to each trade’s transaction fees, not the transaction amount. It added that the fee covers all transaction types that Nigerian users can perform on its platform.

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💰 Bitfinex report notes renewed profit realization by long-term bitcoin holders

Bitcoin long-term holders, who had paused profit-taking since early May, appear to have begun selling off their holdings again, according to Bitfinex analysts. "Long-term holders of bitcoin are resuming their sales, and continued high levels of profit realization by long-term holders means the near-term outlook for bitcoin is vulnerable." Bitfinex analysts said.

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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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💰 Solana ETF Approval Odds Rise Amid Potential Political Shifts, Analyst Says

Bloomberg’s senior ETF analyst has stated that the odds of a Solana exchange-traded fund (ETF) being approved within the next 12 months are closely linked to the likelihood of a change in the U.S. presidency. He noted that it is “safe to say the chances of both are higher today than they were yesterday.”

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🪙 Galaxy Digital sees up to $7.5 billion flowing into ETH ETFs within first five months

Galaxy Digital said exchange-traded funds tracking Ethereum’s native token, could become a multi-billion market opportunity soon after approval. The U.S. Securities and Exchange Commission recently changed course to accelerate the approval of these funds, with some analysts predicting the first ETH ETFs approvals could come in next week. The SEC has yet to approve the crucial S-1 filings needed for the funds to hit the market.

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💰 Marathon Digital expands into altcoin mining to diversify revenue streams post-Bitcoin halving

Marathon Digital, the largest public Bitcoin miner by market cap, announced late Wednesday it had expanded into altcoin mining to diversify its revenue streams following Bitcoin's latest halving event. The altcoin in question is Kaspa, with Marathon deploying its first Kaspa application-specific integrated circuit (ASIC) miners in September 2023. In total, Marathon said it has purchased around 60 PH/s of Antminer KS3, KS5 and KS5 Pro ASICs from manufacturer Bitmain, each of which it claims can generate up to 95% profit margins given the current network difficulty rate and price of KAS.

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🇪🇺 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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🇩🇪 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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⚡️⚡️⚡️⚡️⚡️⚡️: 🚨 Julian Assange has reached a plea deal with the U.S., allowing him to go free❗️

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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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💰 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. "Even those who have held bitcoin for a period of 3-4 years, we see long-term holder cohorts continuing to remain risk-off for now and exiting spot positions.

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💰 German Government Still Holds Over 40K Bitcoins After Recent Sale, Onchain Data Shows

The German government has been selling seized bitcoin but still holds more than 40K BTC, worth over $2.3 billion, according to onchain data from blockchain intelligence firm Arkham. These sales are occurring alongside the anticipated Mt. Gox bitcoin distributions. In response to Germany’s BTC liquidation, Tron founder Justin Sun has offered to purchase the remaining bitcoin off-market from the German government to minimize any price impact on the cryptocurrency.

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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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💰 CleanSpark mined 445 bitcoin last month, exceeds mid-year hashrate target of 20 EH/s

CleanSpark mined 445 bitcoin last month, up from May’s 417 mined. The bitcoin miner said it exceeded its mid-year target of 20 EH/s in operational hashrate due to its acquisition of five new bitcoin mining sites in Georgia. The company sold 8.06 bitcoin in June at an average price of approximately $67,514 per bitcoin, according to a press release. The average hashrate throughout the month was 17.85 EH/s.

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📣 Starknet allocates additional 50 million STRK to DeFi program

The Starknet Foundation has announced an additional 50 million STRK allocation to its DeFi Spring program, according to details published on Monday. DeFi Spring 2.0 is Starknet Foundation’s new commitment to growing the decentralized finance (DeFi) ecosystem of Starknet, an Ethereum Layer-2 rollup ecosystem.

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💰 Runes TXs on Bitcoin tank over 88% in June

Runes, a new token standard on the Bitcoin blockchain, has seen its daily average transaction count plummet over 88% from its highest point in June. According to Dune Analytics data from Crypto Koryo, the average daily Runes transactions from June 22–28 was 37,820, reflecting a nearly 90% drop from the 331,040 daily average recorded between June 9–15.

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🔵 Coinbase to launch CFTC-regulated futures trading for 5 altcoins

Coinbase Derivatives plans to launch margined futures contracts for Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHIB). On June 28, the service published an announcement and submitted filings to the CFTC to list each contract under a self-certification model.

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💰 21Shares files S-1 for spot Solana ETF in the US

Investment firm 21Shares has filed an S-1 form with the U.S. Securities and Exchange Commission for a Solana based exchange-traded fund, one day after rival VanEck submitted a similar filing. -based exchange-traded fund, one day after rival VanEck submitted a similar filing.

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🥇 Bitcoin Miner Marathon Mined $15M Worth Kaspa Tokens to Diversify Revenue

Bitcoin (BTC) miner Marathon Digital (MARA) is now a multi-coin crypto miner, after it started mining layer 1 protocol Kaspa (KAS) to diversify its mining revenue. Kaspa uses a proof-of-work (PoW) consensus mechanism called GHOSTDAG protocol, and unlike bitcoin, it allows multiple blocks to be produced simultaneously. This process helps make transactions faster and provides more block rewards for miners, according to a statement from Marathon.

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🏦 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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🏦 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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🚨🚨 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

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