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Welcome to Thursday Folks! Yesterday, Bitcoin attempted to rally as I expected but it was short lived but according to a Billionaire Bitcoin is here to stay. The price of Bitcoin is currently trading at $29,465.03 and if it can remain above $29.5K this will become a big rally. Let's dive into the news...
San Fransisco-based Sofi Bank revealed it holds $170 million in crypto on its balance sheet in the Q2 earning report.
Bitcoin is hovering near $29,500 as markets braced for a fresh United States Consumer Price Index (CPI) print. Wider metrics suggest a flare-up in inflation in months ahead, which may trigger a sharp repricing of interest rate expectations, bringing downside volatility to risk assets, including bitcoin. However, July’s CPI announcement didn’t do much to BTC’s price this time. In addition, a remarkable milestone is the surge in BTC holdings of long-term investors, amassing a record 14.59 million coins, equating to 75% of the circulating supply.
Billionaire David Rubenstein says that Bitcoin (BTC) isn’t going anywhere now due to a wave of massive interest in the king crypto spread around the globe. The Lightning Network is growing, but liquidity issues and a need for greater user awareness continue to hinder mainstream adoption.
There is a high possibility that several spot bitcoin (BTC) exchange-traded-funds (ETFs) could be approved in quick succession by The U.S. Securities and Exchange Commission (SEC), triggering the next move higher for the world’s largest digital currency, crypto services provider Matrixport.
Top 10 $ETH addresses accumulated approximately $5.2 billion worth of ETH in the last five years. Cardano's Charles Hoskinson said that "organic methodical real adoption" is driven by a decentralized community and attributes that to Cardano's impressive quarterly performance.
Binance is abandoning most of Europe due to MiCA regulations but is applying to get registered in Taiwan in line with local anti-money laundering rules, two sources familiar with the matter said. Coinbase’s Base network has officially launched after spending a few weeks in an “open for builders only” phase and nearly $166 million had already flowed to the blockchain ahead of the official launch of Base, which debuted Wednesday as a new layer 2 network atop Ethereum.
Judge Analisa Torres ordered a trial by jury last month for Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen over whether they are liable in illegal securities sales to institutional investors who bought hundreds of millions of dollars worth of XRP. The Securities and Exchange Commission said Wednesday that it filed a letter with the Southern District of New York seeking leave for an interlocutory appeal of the summary judgement order in the Ripple Labs case. Jonelle Still, the director of investigations and intelligence at CipherTrace, a Mastercard company, recently submitted a report supporting the defense in the United States v. Roman Sterlingov, a criminal case involving the Bitcoin Fog cryptocurrency mixing service.
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Podcast of the Day: There are 281 Days Until the Bitcoin Halving | TCC
Sources:
Sofi Bank (Cointelegraph)
Bitcoin & CPI (CoinDesk | Cointelegraph | CryptoPotato)
Bitcoin Metrics (Finbold)
Bitcoin Opinion (TDH)
Bitcoin Lightning Network (Cointelegraph)
Bitcoin ETF (Coindesk)
Ethereum (CryptoPotato)
Cardano (UToday | TDH)
Binance (CoinDesk | TB)
Coinbase (Cointelegraph | CoinDesk | TB | TDH | Blockworks)
Legal Cases (TB | TB | Blockworks | Cointelegraph | Cointelegraph)
