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Rex Shares launches double-leveraged Bitcoin ETFs, challenging ProShares’ dominance. Analyst Eric Balchunas expects significant market impact. Spot Bitcoin ETFs hit $50B in assets, pushing BTC to a record $70K in March. Matt Tuttle of Tuttle Capital sees expanded digital asset offerings. #Update
Bitcoin ($BTC) and XRP ($XRP) are in focus as the U.S. Senate Committee and Rep. Ro Khanna’s roundtable discuss future crypto regulations today. With the CFTC Chair and Ripple’s CEO participating, Bitcoin is up nearly 2% ($58,510.62) and XRP at $0.4417. #CryptoRegulations
Matthew Sigel, VanEck’s Head of Digital Assets Research, is optimistic about a Solana ETF despite regulatory hurdles. VanEck’s approach highlights Solana’s blockchain utility and decentralization. Successful Solana ETFs in Europe and strong Spot Bitcoin ETF performance underscore investor interest. A new SEC Chair could improve clarity. #Update
Northwest Capital Management invested $1,775 in $BLK Bitcoin ETF, acquiring 52 units in Q2 2024. City State Bank and the Bank of New Hampshire also invested. The ETF saw 2134 BTC inflows on July 9, pushing prices near $59K. Institutional adoption of Bitcoin ETFs is rising. #Update
Coinbase lists Stader ($SD), causing a 100% surge in its value. The token’s 24-hour trading volume hit $6.6M, with a market cap of $30.8M. Coinbase also secured a $32.5M contract with the U.S. Marshals Service and acts as a custodian for VanEck’s HODL Bitcoin ETF. #CryptoNews
An Ethereum whale withdrew 16,449 ETH ($50.3M) from Binance as the price hit $3,100, ahead of next week’s expected Ethereum ETF approval. This new whale address shows bullish signs, aligning with $10.2M inflows into ETH investment products last week, sparking institutional interest. #EthereumETF
The US House is set to uphold President Biden’s veto on repealing SEC rule SAB 121, restricting banks from holding cryptocurrency assets. The vote on July 10 is unlikely to overturn the veto, signaling Democrats’ alignment with Biden ahead of elections. #CryptoRegulation #Update
Bitwise’s Chief Compliance Officer Katherine Dowling predicts Ethereum ETFs are near approval following recent SEC amendments. Expected by summer’s end, Ethereum ETFs will enhance market liquidity and attract institutional investors, marking a pivotal moment for crypto. $ETH #CryptoNews
Golem (@GolemProject) transferred 4,600 ETH ($14.1M) to Binance and Bitfinex amid a price recovery. Over five days, 29,000 ETH ($88.9M) moved, sparking concerns about selling pressure on $ETH. Golem focuses on network growth and solo staking their ETH holdings. #Ethereum
Bitcoin user sends on-chain message to German govt, calling taxes “robbery,” as over 50% of seized BTC is sold on exchanges like $COIN, $BTS, and $KRKN. Prices dip but recover 2.1% in 24 hours. TRON’s @justinsuntron offers to buy the BTC directly. #CryptoNews
Federal Reserve Chair Powell’s testimony has driven Bitcoin ($BTC) up 2.99% to $57,453.86, marking a recovery after recent sell-offs. Altcoins like Ethereum ($ETH) also gained 3.45%, with Solana, $PEPE, $DOGE, $TRON, $BONK, and $SHIB up 1.60%-10.35%. #CryptoNews #Update
Ex-FTX execs Nishad Singh & Gary Wang to be sentenced this fall for fraud. Singh’s sentencing: Oct 30, 2024; Wang’s: Nov 20, 2024. They exposed FTX’s $8B gap & fraudulent practices. New allegations involve Bankman-Fried’s family’s $100M illicit donation scheme. #Crypto #Update
China seizes 190K $BTC, 830K $ETH, and 27.24M $EOS from the PlusToken scam. This follows Germany’s liquidation of 50K $BTC. Both actions add pressure on the crypto market, raising concerns about stability. #CryptoNews
Circle introduces EURC, a euro-backed stablecoin, to Base, Coinbase’s Layer 2 blockchain. This move aims to enhance global digital euro transactions. EURC complies with MiCA regulations, joins $USDC, and promises near-instant cross-border payments. Circle holds an E-money License for both $USDC and EURC. #Update #CryptoNews
