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Happy Humpday Folks! Is it the end of the week yet? This feels like a different Crypto Winters for some reason. Bitcoin once again is struggling to maintain $20K and with the continued drama from the CeFi world it's not a surprise. John Bollinger believes Bitcoin could be forming a bottom but remains cautious as should you; Analysts are mixed on Ethereum. 

If SBF is correct and small exchanges are solvent, my words of caution to everyone is get your ASSets off centralized exchanges before they completely fail. There are many options where you can buy Bitcoin and HODL; as for shitcoins YOYO. Not a maxi but you have to admit Bitcoin remains the only asset that is a commodity [corrected] (Chairman Gensler said it himself) and it's the only assets that won't go to zero. 

News for this morning is a bit slow going and there isn't much new except BlockFi getting a MSL in Iowa. 3AC ordered to liquidate, and Musk continues to explain why he's all about DOGE. Make time to read the articles, watch the videos, and listen to the podcast because within them are nuggets of information that can help you decide which way to go.

BREAKING

• Pentagon paper warns of major vulnerabilities in the Bitcoin blockchain (Finbold)
• Microstrategy BTFD! (Tweet | UToday | Coindesk | TB | Cointelegraph | Blockworks)
• Investment Firm Cypherpunk Holdings Sells All of Its Bitcoin and Ether (Coindesk)
• Almost 70% of Bitcoin millionaires were wiped in H1 2022 (Finbold)
• Crypto’s Correlation to Equities Dips Following All-time Highs in May (Blockworks)

JUST IN

• Warren Buffet-backed Nubank Finally Launches Bitcoin Operations for 54 Million Customers (UToday)

CEFI CONTAGION

• Celsius's risk profile close to double that of a US bank, WSJ reports (TB | Finbold)
• A leaked investor call revealed Morgan Creek's bid for BlockFi. Here are four more big takeaways from the call (TB)
• BlockFi Gets Money Services License (MSL) in Iowa Weeks After Paying a $1M Penalty (Cointelegraph | CryptoPotato | Blockworks)
• Virgin Islands court orders liquidation of crypto hedge fund Three Arrows Capital (Finbold | Blockworks | UToday | TB | Cointelegraph | Coindesk | TB | Bitcoinist)
• CoinFLEX CEO Files Default Notice Against Bitcoiner Roger Ver (Blockworks)

BITCOIN

• Tracking Whales, What This Bitcoin Divergence Could Hint About BTC’s Price (NewsBTC)
• Bitcoin Dips Below $20,000 as Crypto Market Pressure Intensifies (Decrypt | Cointelegraph | Coindesk | ZyCrypto)
• Here's Exact Point of Bitcoin Switching from Bear to Bull Market (UToday)

ALTCOINS

• Why Ethereum Could Trade At $500 If These Conditions Are Met (NewsBTC)
• Jed McCaleb has 81.5 Million XRP Left, Next Week He May Go Down to Zero (UToday)
• 52% of Dogecoin Addresses Remain in Profit Despite Recent Price Drop (UToday)

STABLECOINS

• New York Community Bank to Hold Assets Backing Circle's USDC (Coindesk)
• Market Selloffs Lead to Rising Inflows of USDC: Circle CEO (CryptoPotato)

DEFI

• Cardano’s DeFi Can Now Be Possible on Ethereum Through This Integration: Details (UToday)

ACCEPTANCE

• Luxury watchmakers flock to accept Bitcoin; Are they targeting millennials now? (Finbold | Bitcoinist)

ANALYST'S CORNER

Bullish

• Michael van de Poppe: Analyst Predicts Ethereum (ETH) Bounce, Updates Outlook on XRP and Fantom (FTM) (TDH)

Neutral

• John Bollinger: Is Bitcoin Ready To Bottom Out? Veteran Analyst John Bollinger Weighs In on State of BTC (TDH)
• Deutsche Bank: Crypto Freefall Could Continue Because of the System’s Complexity (Coindesk)
• Meltem Demirors: It’s time to refocus on crypto infrastructure, CoinShares CSO says (Cointelegraph)

Bearish

• Mark Newton: Tom Lee's Fundstrat Warns of Big Bitcoin Sell-Off (UToday | Finbold)
• Altcoin Sherpa: Crypto Analyst Reveals Big Downside Target for Ethereum, Predicts Bitcoin Bottom Scenario (TDH)
• Daniel Cheung: Ethereum Has Not Faced Capitulation Yet and Could Plunge Even More, Says This Fund Manager (UToday)
• Capo: Analyst Who Accurately Predicted 2022 Bitcoin and Crypto Crash Tells Traders To ‘Get Ready,’ Predicts Huge Altcoin Haircut (TDH)

NOTABLE VOICES

Positive

• Spencer Noon: Crypto Venture Capitalist Says Solana (SOL) Going Through Same Bear Phase As Ethereum (ETH) in 2018 (Decrypt)
  
• Elon Musk: Musk Reveals The Reason Why He Supports Dogecoin, Says It’s Because Of Tesla And SpaceX Factory Workers (EWN)

Negative

• Tom Loverro: Ex-Coinbase Board Member Warns Crypto Will Go Lower in 2022, Advises Holding Enough Cash for the Next 30 – 36 Months (EWN)
• Lee Reiners: Former Federal Reserve Regulator Is Calling for Banning Crypto (UToday)
• Paolo Ardoino: Tether CTO Says Hedge Funds Attempting To Sabotage USDT (TDH)
  
• Sam Bankman-Fried: Multiple Crypto Exchanges Are “Secretly Insolvent,” Warns SBF (CryptoPotato | NewsBTC | Cryptoglobe | EWN)
• Brian Brooks: Bitfury CEO Explains Why for Him Crypto Prices Are ‘Not That Relevant’ Right Now (Cryptoglobe)

PEOPLE ON THE MOVE

• Trust Machines Hires Former Coinbase, BNY Mellon Execs (Blockworks)

ETFs

• Grayscale's Bitcoin ETF Hides One Important Catch (UToday)
• 21Shares launches bitcoin exchange-traded product tailored to the bear market (TB | Cointelegraph | Blockworks | Bitcoinist)
• Why The SEC Will Reject Grayscale’s Bitcoin Linked Spot ETF (Bitcoinist)

BLOCKCHAINS

• Bitcoin Lightning Network developer updates node software with Taproot support (Cointelegraph)
• Cardano sets stage for Vasil hardfork as mainnet upgrade countdown begins (Finbold)

SPACECHAINS: HOW THIS NEW BITCOIN SIDECHAIN PROPOSAL WORKS

WE NEED TO ENCRYPT THE PEER-TO-PEER LAYER OF BITCOIN FOR PRIVACY

EXCHANGES/WALLETS

• Bitcoin advocate criticized for backing wallet authentication project (Cointelegraph)
• Coinbase adds support for staking Solana (TB | Decrypt)

MINING

• Bitcoin mining firms Compass and Dynamics spar over payments and 'hostage' hardware (TB)
• Bitcoin miners unmoved by BTC price crash as mining power remains stable (Finbold)
• What Happens To Bitcoin Miners If Price Keeps Dropping? (Bitcoinist)
• Bitcoin ASIC Miners Plummet To Lowest Price Since Jan 2021 (Bitcoinist)
• Bitcoin Miners May Trigger Altcoin Season – But We’re Not There Yet (Blockworks)
• Bitcoin mining stock report: Wednesday, June 29 (TB)

REGULATION/LEGISLATION

• US govt delays enforcement of crypto broker reporting requirements: Report (Cointelegraph)
• NYDIG study calculates the value of regulation worldwide in terms of BTC price gains (Cointelegraph)
• Congressional Democrats plot path forward on digital dollar while they have the majority (TB)

PODCASTS

• TFTC: #342: Dissecting the contagion with Parker Lewis
• Untold Stories: Lessons from the Bull Market with Michael O’Rourke
• Bankless: dYdX Abandons Ethereum?! with Founder, Antonio Juliano
• Bitcoin Magazine: What's going on in the Global Monetary System w/ Matthew Pines
• Bitcoin Magazine: Hodling Bitcoin in a Bear Market w/ American HODL & Junseth
• Bitcoin Fundamentals: BTC084: Japanese Yield Curve Control, Oil, & Bitcoin Macro w/ James Lavish