CFTC Chairman Rostin Behnam seeks more funding and authority to oversee crypto markets, claiming 70-80% of cryptocurrencies are non-securities. An Illinois court classified $BTC and $ETH as digital commodities, backing his stance. #CryptoRegulation
Siacoin ($SC) surged 29% to $0.005248, with market cap up 27% to $303M. Trading volume spiked 2,700% to $72.7M. $SC powers @Sia__Foundation’s decentralized cloud storage. #Update #CryptoNews
On July 9, 2024, the hacker behind the CoinStats breach moved 548.2 ETH ($1.69M) to Tornado Cash. Two wallets, known as CoinStats Exploiters, transferred the funds in two transactions. This incident highlights the urgent need for improved crypto security. #CryptoAlert
Terra Classic developer Till Z released the v3.1.0 update to enhance $LUNC staking by diverting 10% of Oracle pool rewards. LUNC staking nears an all-time high with 1 trillion staked and a 20% increase in futures open interest. Trading volume up 40%. #Crypto #Update
Goldman Sachs (@GoldmanSachs) will launch three tokenization projects by year-end, targeting institutional clients through private blockchains. Aimed at U.S. asset management and European debt markets, the projects highlight a cautious yet innovative approach amid rising institutional interest in crypto. #Update
Dora, a crypto startup, raised $5.5M from @dragonfly_cap, @Lemniscap, and others to enhance its Infinite Discovery Engine for unifying cross-chain transactions. CEO Mauricio Trujillo aims to boost search capabilities across 20+ networks, including Ethereum. #Crypto #Blockchain #Update
LayerZero Labs and Initia Labs are developing a new interoperability standard for Cosmos. This will connect Cosmos SDK chains with LayerZero-enabled chains, boosting omnichain interoperability. LayerZero has already handled over 135 million cross-chain messages. #BlockchainTech #Update
Bitcoin whales are accumulating as $BTC trades below $60K, with balances up 6.3% monthly, says @cryptoquant_com. Despite market drops, whale activity is strong, hinting at confidence in long-term gains. #Update
Elliptic has exposed an $11B money-laundering scheme involving the Huione Guarantee platform, linked to crimes like human trafficking. Managed by Cambodia’s ruling family, this platform uses $USDT for transactions. Tether disputes these findings, calling for regulatory checks. #Update #CryptoCrime
CFTC Chair Rostin Behnam testified that an Illinois court recognized $BTC and $ETH as commodities and contended that 70-80% of tokens are non-securities, opposing SEC Chair Gary Gensler’s view. He urged Congress to swiftly legislate for better investor protection in the digital asset market. #CryptoRegulation
Former President Trump’s pro-crypto stance boosts his favorability among GOP voters, with 13% more supportive. 60% want clear crypto regulations, while 68% oppose CBDCs. This shift may reshape the GOP base. #CryptoNews #Update
Anthony Pompliano (@APompliano) dismisses the idea that a Trump win will trigger a #Bitcoin rally, stressing broader market dynamics and time as key factors. He notes Bitcoin’s resilience despite recent sell-offs and predicts institutional investors will drive future price surges. #Update
#Update Ethereum ($ETH) regains $3K, nearing $3.2K. On-chain data shows ~2M addresses holding ETH at a loss, potentially increasing selling pressure. ETH ETF launch might counteract this. ETH trades at $3,100.56, RSI at 40, OI up 0.51% to $12.67B. Broader market remains optimistic.
Bitget’s Q2 2024 report reveals a 50% surge in web traffic, $32B in trading volumes, and 2.9M new user registrations. Bitcoin holdings grew by 73%, Ethereum by 153%, and USDT by 80%. New products PoolX and Premarket launched. #CryptoUpdate
