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Welcome to Thursday Folks! Yesterday, Presidential Candidate RFK Jr. made a big announcement about backing the USD with Bitcoin; time will tell if it can become reality. The most covered news however was about the ETH Whale awakening from the ICO era. The price of Bitcoin is currently at $30,280.454. The fear and greed index jumped to 56 and the best performing asset for the past 24 hours continues to be $MATIC up 6.82% and is a new comer to the top by by rising to position #10.
BREAKING: US Government Sells Another 8,200 Bitcoin, On-Chain Data Confirms
On-chain analysts at CryptoQuant have confirmed previous rumors that the United States government has sold another large batch of Bitcoin (BTC) connected to the defunct darknet marketplace, Silk Road.
Bitcoin bears are closing in on a rare win as they have the advantage in this week’s $600 million BTC options' expiry. Bloomberg Intelligence’s senior macro strategist Mike McGlone is warning that Bitcoin (BTC) may face strong headwinds before the end of 2023. After purchasing $1.5 billion worth of Bitcoin in 2021, Tesla sold 75% of it in 2022 and is now hanging onto its remaining $184 million Bitcoin stash.
Publishing the ETF applications in the official journal of the U.S. government gives the SEC up to 240 days — until March 2024 — for final approval or denial. NYDIG, a prominent crypto trading firm, has suggested that the introduction of Bitcoin spot-based exchange-traded funds (ETFs) could potentially generate $30 billion in new demand for Bitcoin. In addition, the possibility the SEC will approve the conversion of GBTC into an ETF is playing a role, according to analysts. GBTC’s share in total ARKW’s holdings accounted for around 7.5%, roughly the same amount as Tesla, in Q2 2023.
El Salvador’s bonds due in 2027 have gained 62% in the last six months as the country finds itself on a better financial footing. The share of bitcoin trade volume on Japanese exchanges rose from 69% to 80% in the first six months of the year, data tracked by Kaiko show.
After heating a Brooklyn spa, now bitcoin miners are being used to power clothes dryers
XRP prices has risen above a key technical analysis indicator known as the “Ichimoku Cloud” on the weekly chart, signaling a bullish breakout. A recent report from fintech giant Ripple has shed light on the increasing role of cryptocurrencies and blockchain technology in cross-border payments, projecting that by 2027, the value of this sector will reach a staggering $250 trillion. Cardano’s price is holding the key support at $0.30. ADA could start a steady increase if there is a clear move above the $0.340 resistance.
The Federal Reserve certified the FedNow Service as “ready” after it onboarded 41 financial institutions, 15 service providers and the U.S. Department of the Treasury to test the system before its launch by the end of July 2023.
Coinbase Borrow, a program that allowed customers to receive fiat loans of up to $1 million against as much as 30% of their bitcoin (BTC) holdings, will be shutting down over the coming months as the company focuses its resources on products that “customers care about most. Yesterday, Nasdaq, the prominent, tech-forward U.S. stock exchange, announced it is calling off plans to launch a cryptocurrency custody service. The UK’s Commercial Court has refused to grant an arbitration award to Payward, the company behind crypto exchange Kraken.
Representative Glenn Thompson is optimistic about getting support for the crypto bill he is championing following the court’s decision that Ripple did not violate securities law with the open market sale of XRP. The SEC Chair demurred on whether the commission would appeal a federal judge’s split decision in its case against Ripple Labs. Securities and Exchange Commission Chair Gary Gensler asked senators for additional funding for enforcement and technology at the markets regulator, in part for its enforcement activity in crypto markets.
Several users of bankrupt crypto exchange FTX are being targeted by a potential phishing attack after being sent a "reset password" request from the exchange's official customer support email.
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Podcast of the Day: BlackRock & the Bitcoin Signal with Preston Pysh & Matt Odell Live | WBD
Sources:
Government Dumps (CryptoPotato)
Bitcoin Expiry (Cointelegraph)
Bitcoin Headwinds (TDH)
Tesla HODLing Bitcoin (Cointelegraph | UToday | NewsBTC | Blockworks | Coindesk)
ETF Apps move forward (Cointelegraph)
NYDIG Report (Cryptoglobe)
GBTC Premium (Coindesk)
GBTC performance (Cointelegraph)
El Salvador Bonds (Coindesk)
Bitcoin trading in Japan (Coindesk)
Heating with Bitcoin (Blockworks)
XRP Price Action (Cryptoglobe | Blockworks)
Ripple Report (CryptoGlobe)
ADA Price (NewsBTC)
FedNow is Not a CBDC (Cointelegraph)
Coinbase Borrow shutdown (Coindesk | TB)
Nasdaq not launching Crypto service (Coindesk)
Kraken Refused (Blockworks)
Financial Innovation and Technology for the 21st Century Act (TDH | Blockworks | Coindesk | TB | Cointelegraph)
Gensler silent on Appeal (TB)
Gensler request more money (TB | Coindesk)
FTX Scam (Coindesk)
