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top stories of the week
Gemini’s Winklevoss Says Bitcoin’s ‘Great Accumulation’ Has Begun
There has been renewed optimism recently for approved bitcoin spot exchange-traded funds (ETFs). Igniting the “Great Accumulation Race” for Bitcoin, according to industry pundits. In the past week, Fidelity, Invesco, WisdomTree, and Valkyrie have followed investment giant BlackRock in filing with the United States Securities Exchange Commission for a bitcoin spot ETF, which some analysts believe will be the first of bitcoin’s last days. The reason for the increase in price.
Binance.US fixes USD withdrawal issues but warns it won’t last long
Crypto exchange Binance.US informed customers that it has resolved US dollar withdrawal issues after working with its banking partners, although it warned that the relief may not last long. Amidst its ongoing battle with the SEC, the exchange suspended dollar deposits and notified its customers on June 9 of an upcoming freeze on fiat withdrawal channels. Binance.US encourages customers whose withdrawal attempts have failed to resubmit their requests. Any remaining USD balances held in Customer Accounts will be converted to Tether at a future date.
Atomic Wallet gives major update on hack but questions remain unanswered
Atomic Wallet users want more answers, despite the decentralized wallet provider finally releasing a full “event statement” about the June exploit — which some estimate has caused losses to reach $100 million. In the statement, Atomic did not specify what exactly caused the exploit, citing only the four most “likely” causes, including viruses on user devices, infrastructure breaches, man-in-the-middle attacks or malware. code injection. According to the company, “less than 0.1%” of app users were affected, but many online still disputed this figure.
UK government moving forward on financial markets bill for possible regulation of crypto
Lawmakers in the United Kingdom are moving forward with legislation that could aid crypto adoption in the country. First introduced in the UK Parliament in July 2022, the Financial Services and Markets Bill aims to ensure the country maintains its place in the financial world after Brexit, including giving powers over digital asset regulation. The bill was read for a third time in the House of Lords, which was one of the final stages for any additional amendments to be considered and passed before being signed into law.
Powell says Fed views stablecoin as currency and wants ‘stronger’ role in its oversight
Addressing Congress about the proposed stablecoin bill, Chairman Jerome Powell said on June 21 that the US Federal Reserve Board views payment stablecoins as a form of money. Powell took a position opposite to that of SEC Chairman Gary Gensler. Last year, Gensler said at a Senate Banking Committee hearing that stable coins may require registration and regulation with the SEC. Gensler has also consistently stated that all cryptocurrencies except bitcoin are securities.
winners and losers
bitcoin at the end of the week ,B T c, is on $30,697ether ,eth, But $1,896 And XRP But $0.49, Total market cap is $1.19 trillion, According To Coinmarketcap.
Among the 100 largest cryptocurrencies, the top three altcoin gainers of the week are bitcoin cash (BCH) At 83.66%, Pepe (PEPE) at 67.59% and Bitcoin SV (BSV) at 51.87%.
The top three altcoin losers of the week are KuCoin Token (KCS) At -8.21%, volume (qnt) and BitTorrent(NEW) at -6.51% (BTT) at -4.72%.
For more information on crypto prices, be sure to read Cointelegraph’s market analysis.
read this also
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How to revive the ‘metaverse dream’ in 2023
most memorable quotes
“We view payment stablecoins as a form of currency, and (…) it would be appropriate to have a much stronger federal role in what happens to stablecoins in the future.”
Jerome PowellPresident of the US Federal Reserve
“It is becoming increasingly clear that Web3 Financial Rail is the future.”
Lisa WadeDigitalX CEO
“BlackRock breathes new life into the (Bitcoin ETF) race.”
Eric BalchunasBloomberg Senior ETF Analyst
“If designed well, CBDCs can strengthen the utility, flexibility and efficiency of payment systems and increase financial inclusion in (Latin America and the Caribbean).”
International Monetary Fund
“Crypto will become the native currency of AI.”
Robbie YungCEO of Animoca Brands
“The Great Accumulation of Bitcoin Has Begun.”
cameron winklevossco-founder of gemini
week forecast
Bitcoin ‘Parabolic Advance’ Means BTC Price Will Hit All-Time Highs in 2023 – Traders
A popular trader said that bitcoin will reach new all-time highs in 2023 and October is the favorite month for this. In a Twitter update on June 22, pseudonymous trader Credible Crypto argued that the next four months should provide the BTC price momentum needed to tackle $69,000.
“What is clear with any parabolic progress is that the momentum accelerates towards the top. We can see this in both the 3k-14k and 10k-60k prior impulsive moves,” he explained. This time, bitcoin has successfully retested support on the monthly time frame, with $25,000 now potentially a new “parabolic A springboard to “advance”.
“I would expect that once the expansion starts (as it seems likely) we should easily see monthly moves of over 10K at a time. There is a gap of $40,000 from the current level to the prior ATH. If this is a parabolic advance, then logically, this gap should be covered within a few monthly candles,” he said.
FUD of the week
Nevada regulator says Prime Trust can’t honor customer withdrawals
Prime Trust’s Financial Condition Is “Seriously Impaired”, And Crypto Custodian According to Nevada’s trade regulator, it has been unable to honor customer withdrawals since June 21. In the cease-and-desist order, the regulator claimed that Prime Trust is in an “unsafe or unsound condition” to continue the business. The company now has 30 days to respond to the order and may request an administrative hearing to challenge it. The move comes days after its subsidiary Bank filed for bankruptcy protection in the United States.
Apple removes malicious Trezor app from App Store
An apparently malicious app claiming to be crypto hardware wallet Trezor has been removed from Apple’s App Store, although a quick search revealed that other copycat apps are still lurking. The app was quickly removed after a Twitter user alerted the tech company. Fake wallet apps are nothing new on Apple’s App Store. In 2021, a user reportedly lost $600,000 in bitcoin after downloading a malicious Trezor app from the App Store.
Twitter suspends AI bot linked to Memecoin after Elon Musk claims ‘scam crypto’
Twitter has suspended the account of popular Memecoin-linked, AI-powered bot “Explain This Bob” after Elon Musk accused it of being a “scam crypto account”. The bot was created by Prabhu Biswal from India and used OpenAI’s GPT-4 model to understand and respond to tweets from those tagging the account. It had grown to over 400,000 followers before the suspension. The project was also associated with the ERC-20 Memecoin BOB token (BOB), which was launched in April. Since the suspension, the hashtag “freebob” has circulated on crypto Twitter.
Best Cointelegraph Features
Bitcoin 2023 in Miami has been hit by ‘bullshit on bitcoin’
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“There is a lot of innovation coming out of this city – much more than what you see on the global stage.”
Peter McCormack’s Twitter regret: ‘I can feel myself being a dick’ – Hall of Fame
subscribe
The most fascinating reading in blockchain. Delivery is done once a week.
top stories of the week
Gemini’s Winklevoss Says Bitcoin’s ‘Great Accumulation’ Has Begun
There has been renewed optimism recently for approved bitcoin spot exchange-traded funds (ETFs). Igniting the “Great Accumulation Race” for Bitcoin, according to industry pundits. In the past week, Fidelity, Invesco, WisdomTree, and Valkyrie have followed investment giant BlackRock in filing with the United States Securities Exchange Commission for a bitcoin spot ETF, which some analysts believe will be the first of bitcoin’s last days. The reason for the increase in price.
Binance.US fixes USD withdrawal issues but warns it won’t last long
Crypto exchange Binance.US informed customers that it has resolved US dollar withdrawal issues after working with its banking partners, although it warned that the relief may not last long. Amidst its ongoing battle with the SEC, the exchange suspended dollar deposits and notified its customers on June 9 of an upcoming freeze on fiat withdrawal channels. Binance.US encourages customers whose withdrawal attempts have failed to resubmit their requests. Any remaining USD balances held in Customer Accounts will be converted to Tether at a future date.
Atomic Wallet gives major update on hack but questions remain unanswered
Atomic Wallet users want more answers, despite the decentralized wallet provider finally releasing a full “event statement” about the June exploit — which some estimate has caused losses to reach $100 million. In the statement, Atomic did not specify what exactly caused the exploit, citing only the four most “likely” causes, including viruses on user devices, infrastructure breaches, man-in-the-middle attacks or malware. code injection. According to the company, “less than 0.1%” of app users were affected, but many online still disputed this figure.
UK government moving forward on financial markets bill for possible regulation of crypto
Lawmakers in the United Kingdom are moving forward with legislation that could aid crypto adoption in the country. First introduced in the UK Parliament in July 2022, the Financial Services and Markets Bill aims to ensure the country maintains its place in the financial world after Brexit, including giving powers over digital asset regulation. The bill was read for a third time in the House of Lords, which was one of the final stages for any additional amendments to be considered and passed before being signed into law.
Powell says Fed views stablecoin as currency and wants ‘stronger’ role in its oversight
Addressing Congress about the proposed stablecoin bill, Chairman Jerome Powell said on June 21 that the US Federal Reserve Board views payment stablecoins as a form of money. Powell took a position opposite to that of SEC Chairman Gary Gensler. Last year, Gensler said at a Senate Banking Committee hearing that stable coins may require registration and regulation with the SEC. Gensler has also consistently stated that all cryptocurrencies except bitcoin are securities.
winners and losers
bitcoin at the end of the week ,B T c, is on $30,697ether ,eth, But $1,896 And XRP But $0.49, Total market cap is $1.19 trillion, According To Coinmarketcap.
Among the 100 largest cryptocurrencies, the top three altcoin gainers of the week are bitcoin cash (BCH) At 83.66%, Pepe (PEPE) at 67.59% and Bitcoin SV (BSV) at 51.87%.
The top three altcoin losers of the week are KuCoin Token (KCS) At -8.21%, volume (qnt) and BitTorrent(NEW) at -6.51% (BTT) at -4.72%.
For more information on crypto prices, be sure to read Cointelegraph’s market analysis.
read this also
features
Building Community Resilience to Crises through Mutual Aid and Web3
features
How to revive the ‘metaverse dream’ in 2023
most memorable quotes
“We view payment stablecoins as a form of currency, and (…) it would be appropriate to have a much stronger federal role in what happens to stablecoins in the future.”
Jerome PowellPresident of the US Federal Reserve
“It is becoming increasingly clear that Web3 Financial Rail is the future.”
Lisa WadeDigitalX CEO
“BlackRock breathes new life into the (Bitcoin ETF) race.”
Eric BalchunasBloomberg Senior ETF Analyst
“If designed well, CBDCs can strengthen the utility, flexibility and efficiency of payment systems and increase financial inclusion in (Latin America and the Caribbean).”
International Monetary Fund
“Crypto will become the native currency of AI.”
Robbie YungCEO of Animoca Brands
“The Great Accumulation of Bitcoin Has Begun.”
cameron winklevossco-founder of gemini
week forecast
Bitcoin ‘Parabolic Advance’ Means BTC Price Will Hit All-Time Highs in 2023 – Traders
A popular trader said that bitcoin will reach new all-time highs in 2023 and October is the favorite month for this. In a Twitter update on June 22, pseudonymous trader Credible Crypto argued that the next four months should provide the BTC price momentum needed to tackle $69,000.
“What is clear with any parabolic progress is that the momentum accelerates towards the top. We can see this in both the 3k-14k and 10k-60k prior impulsive moves,” he explained. This time, bitcoin has successfully retested support on the monthly time frame, with $25,000 now potentially a new “parabolic A springboard to “advance”.
“I would expect that once the expansion starts (as it seems likely) we should easily see monthly moves of over 10K at a time. There is a gap of $40,000 from the current level to the prior ATH. If this is a parabolic advance, then logically, this gap should be covered within a few monthly candles,” he said.
FUD of the week
Nevada regulator says Prime Trust can’t honor customer withdrawals
Prime Trust’s Financial Condition Is “Seriously Impaired”, And Crypto Custodian According to Nevada’s trade regulator, it has been unable to honor customer withdrawals since June 21. In the cease-and-desist order, the regulator claimed that Prime Trust is in an “unsafe or unsound condition” to continue the business. The company now has 30 days to respond to the order and may request an administrative hearing to challenge it. The move comes days after its subsidiary Bank filed for bankruptcy protection in the United States.
Apple removes malicious Trezor app from App Store
An apparently malicious app claiming to be crypto hardware wallet Trezor has been removed from Apple’s App Store, although a quick search revealed that other copycat apps are still lurking. The app was quickly removed after a Twitter user alerted the tech company. Fake wallet apps are nothing new on Apple’s App Store. In 2021, a user reportedly lost $600,000 in bitcoin after downloading a malicious Trezor app from the App Store.
Twitter suspends AI bot linked to Memecoin after Elon Musk claims ‘scam crypto’
Twitter has suspended the account of popular Memecoin-linked, AI-powered bot “Explain This Bob” after Elon Musk accused it of being a “scam crypto account”. The bot was created by Prabhu Biswal from India and used OpenAI’s GPT-4 model to understand and respond to tweets from those tagging the account. It had grown to over 400,000 followers before the suspension. The project was also associated with the ERC-20 Memecoin BOB token (BOB), which was launched in April. Since the suspension, the hashtag “freebob” has circulated on crypto Twitter.
Best Cointelegraph Features
Bitcoin 2023 in Miami has been hit by ‘bullshit on bitcoin’
Bitcoin extremists have started to consider the idea of NFTs and tokens on Bitcoin as inherently better than on Ethereum.
Crypto City Guide to Sydney: Much more than just a ‘token’ bridge
“There is a lot of innovation coming out of this city – much more than what you see on the global stage.”
Peter McCormack’s Twitter regret: ‘I can feel myself being a dick’ – Hall of Fame
subscribe
The most fascinating reading in blockchain. Delivery is done once a week.
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