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Happy Tuesday Folks! Bitcoin is trading up at $37,203.36. I believe we might see Bitcoin trade sideways this week and then resume its upward push toward $40K. Let's get on with the news...
Yesterday, Tron overtook BTC as Hamas’ and Hezbollah’s blockchain of choice,(2) the SEC is had trouble serving Hex founder Richard Heart with its lawsuit,(2) and Changpeng Zhao, ex-CEO of Binance, faces a potential 10-year prison sentence for violating the Bank Secrecy Act.(2) Today, Former Binance CEO CZ can’t leave US until court decides if he’s a flight risk.(6)
Bitcoin traders' bullish bias holds firm even as BTC price dips to $37K.(2) Inflows into Bitcoin investment products reach $1.5B year-to-date and about $1,000,000,000 in Bitcoin yanked from exchanges in two weeks. Bitcoin circulating supply in profit hits multi-year high. Bitcoin experienced its first-ever halving 11 years ago today, and since then, its price has soared from $12 to its current price of $37,000. Bitcoin price floor might hit $41,200 in months says Analyst Charles Edwards. Bitcoin price set to hit $40K after dip says Wolfe Research. Bitcoin turns bullish and pushes above $38K on dovish comments from Fed's Waller.(4) Bitcoin remains on track for $100K by year-end 2024: Standard Chartered.(6) Crypto could benefit from an influx of Chinese money, Arthur Hayes says.
Coinbase is dominating a key Bitcoin ETF service. Can anyone else join the race? Could GBTC’s shrinking discount turn to a premium? CME-listed Bitcoin and Ether futures flash a rare bullish signal. The rare signal indicates that institutions have long exposure but not via spot, one observer said. ‘Buy the rumor, sell the news’ — Bitcoin ETF may spark TradFi sell-off. Bitcoin retail investors may end up with a hot potato if the spot ETF go-ahead plays out like gold 20 years ago, analysis considers. SEC asks public for feedback on Franklin Templeton's proposed spot bitcoin ETF.(3)
Ethereum would trade at this price if ETH hits its all-time high market cap. XRP threatens to flip Binance’s cryptocurrency once and for all as whales accumulate Ethereum and XRP. DOGE hits milestone of 5 million addresses with balance.(3)
Robert Kennedy Jr. issues CBDC warning, says Bitcoin is ‘elegant solution’ to transactional freedom. Payments platform Circle is collaborating with a Japanese financial giant as the nation gears up for a full-scale introduction of stablecoins.
Bybit reaches 20 million active users on its 5th anniversary, but, Coinbase tells some customers it received subpoena related to Bybit.(4) Coinbase might be forced to share your Bitcoin trading data with the CFTC. Interactive Brokers opens Hong Kong retail crypto trading with OSL.
Financial Stability Board says ‘cross-border cooperation’ may be needed to regulate Crypto asset intermediaries. Charles Hoskinson argues that it is unfair to call ADA a security based on claims by Bitcoin and Ethereum maxis who insist those tokens aren't. Hong Kong Chief says regulators may get powers to crack down on unlicensed Crypto exchanges. Judge signs off on $1.65B settlement between Voyager Digital and FTC.
Arthur Hayes, the founder of the BitMEX crypto exchange network, issued a statement expressing his perspective on the unfair treatment of Changpeng Zhao (CZ), the co-founder and former CEO of Binance, by American authorities.
Hong Kong authorities say 145 victims and $18.9M lost in Hounax scam.
Podcast of the Day: Why the Crypto Industry Is So Upset About the IRS’ Proposed New Tax Reporting Rules | Unchained