Monday, July 10, 2023

Crypto Wrap-up


Is Bitcoin considered an international asset? Welcome to our weekly crypto recap.

The SEC is still reviewing the Bitcoin ETF, with no final decision yet. BlackRock's CEO expressed optimism, but JPMorgan remains skeptical. Despite this, Bitcoin's value has held steady around $30K.

Here are the key highlights of this week:

1. BlackRock CEO views Bitcoin as an international asset, suggesting a Bitcoin-linked ETF could democratize finance in the US.

2. JPMorgan believes a US Bitcoin ETF approval won't significantly impact the crypto market, as similar products have been successful in Canada and Europe.

3. Binance Australia offices were reportedly searched by the Australian regulator ASIC as part of an investigation into Binance's derivatives business.

4. Ethereum NFT royalties hit a two-year low as the floor price of Bored Ape NFTs dropped below 30 ETH.

5. Kraken co-founder Jesse Powell is under federal investigation for alleged hacking and cyberstalking of a non-profit organization he founded.

- Namibia passes a bill to regulate cryptocurrencies and digital assets.

- The UK government grants authorities the power to seize cryptocurrencies.

- Bittrex faced enforcement action from the Florida regulator prior to declaring bankruptcy.

- BTC price remains bullish as buyers emerge at the $30K level.

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