To better meet the changing needs and demands of users, CeFi companies should take a close look at what makes DeFi companies appealing.

Bitcoin manages another attack on $31,000, while traders hope for further BTC price upside in the coming days.

Data shows bearish sentiment has spiked among Bitcoin holders, something that could actually work in the favor of the assets price.

Social Media Users Have Turned Bearish On Bitcoin

As explained by the analytics firm Santiment, traders have come into the new week expecting the price of the cryptocurrency to retrace towards the $27,000 to $29,000 range.

The relevant indicator here is the social volume, which measures the total number of social media text documents that are making mentions of a specific term or topic.

Related Reading: Bitcoin Long-Term Holder Supply Stagnates At ATH, What Does This Mean?

The text documents here refer to posts/threads sourced from various popular social media platforms like Reddit, Telegram, and Twitter.

Something to keep in mind is that the metric only measures the unique number of such documents, meaning that regardless of whether a post mentions the term one time or five times, the contribution towards the social volume will still remain one unit.

This indicator helps us gauge the amount of discussion that a topic is receiving across social media right now. It can also be used to measure the market sentiment if some specific terms are applied.

To separate the Bitcoin discussions related to positive and negative sentiments, Santiment has taken the total social volume related to the cryptocurrency market and has then filtered it using terms like buy, bottom, and bullish for the former, and sell, top, and bearish for the latter.

Here is a chart that shows the trend in the social volume of these terms over the past week or so:

As displayed in the above graph, the social volume related to negative sentiment has spiked recently. The positive sentiment, on the other hand, has remained at low values.

This would suggest that the majority of the Bitcoin traders on social media are bearish on the asset and are expecting it to register a drawdown in the near future.

Historically, BTC has tended to show price moves in the direction that the average investor isnt expecting. The more heavily the crowd leans toward any particular side, the more the probability of such a reverse price mo...

NFL Rivals creator Mythical Games raises $37 million (Mythical Games)

The company expects to raise another $20-$30 million when the full round closes in the coming months.

Clouds (Allan Nygren/Unsplash)

Approximately 150 employees of trading firm Robinhood Markets are slated to lose their jobs, according to a Wall Street Journal report on Monday. This decision, which constitutes the third round of job cuts happened within a span of slightly over a year.

This was stated in an internal communication by the firms chief financial officer, Jason Warnick, and it was attributed to the need for adjustments of team structures. The 150 employees from its workforce constitute around 7% of its total staff.

A Robinhood spokesperson stated:

Were ensuring operational excellence in how we work together on an ongoing basis. In some cases, this may mean teams make changes based on volume, workload, org design, and more.

Robinhood has experienced a noticeable decline in trading activity, especially within the crypto sector. In May, the company reported a significant 30% year-on-year decrease in crypto trading revenue.

Related Reading: Chainlink Bulls Must Defend Support Zone To Prepare For Another Rally

Robinhoods decline in performance could be further impacted by its decision to delist various cryptocurrencies, including Solana and Cardano.

The delistings come in the wake of the United States Securities and Exchange Commissions legal actions against prominent exchanges Coinbase and Binance. This layoff report also comes after Robinhoods recent acquisition of credit card firm X1 in a deal worth $95 million.

Third Round Of Workforce Reductions At Robinhood

Last year, Robinhood implemented workforce reductions, reducing its headcount by 9% in April. Subsequently, in August, they conducted another round of layoffs, resulting in a significant 23% reduction of the remaining staff. These measures collectively led to a loss of over 1,000 employees for the company.

During its peak in the second quarter of 2021, Robinhood witnessed remarkable success with 21.3 million active users and revenue surpassing $565 million. However, recent times have been challenging for the brokerage firm.

The Q1 2023 results indicate a significant downturn, with a 44% decline in monthly active users and a 30% year-over-year decrease in revenue for Robinhood.

Robinhood is not the only company undergoing the effects of a less active crypto market though. Lower trading volumes across the industry have resulted in reduced profits for companies involved in facilitating crypto trades.

Companies such as Robinhood, whose revenue is heavily dependent on trading volumes are always trying to adapt to the evolving market dynamics. This is to ensure the sustainab...

Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.

When it comes to retirement planning, there are a variety of investment options available to help individuals save for their golden years.

Google DeepMinds CEO says developers are building on technology from its 2016 AlphaGo model to outfit Gemini to be more capable than current large language models.

Ethereum Classic (ETC) bulls have been active over the past week, bullishly pushing the tokens price with significant gains in the last seven days. An over 22% seven-day price increase saw ETC smash the $15.79 resistance level to $18.74 at press time.

Bullish signals point to more rallies for Ethereum Classic as the global market cap rallies, gradually propelling Bitcoin toward the $31,000 mark. The token could be charging up momentum to conquer the $20 mark in the coming days.

Ethereum Classics Price Swings

Ethereum Classic (ETC) launched in July 2016 as a hard fork of Ethereum that supports decentralized applications (DApps). The main aim of Ethereum Classics launch is to preserve the Ethereum blockchains originality. Earlier in June, ETCs price retraced from its key support level of $18.25. It plunged into a bearish swing that caused severe losses for the token. 

Related Reading: XRP Traders Show Capitulation, Why This Could Be Bullish

ETCs price rapidly nosedived from over $18 on June 4 to less than $15 in mid-June. The token traded sideways between June 10 and June 20 before shooting up to $19.17 on June 24, with an over 27% price increase.

Fortunately, ETC recovered momentum after several days of bearish movement. And Ethereum Classic was among the coins that benefited from the buzz generated by multiple Bitcoin ETF filings by leading US-based asset managers. 

The token shows bullish signs as the market slightly rebounded today after a brief correction in the last 24 hours. As of the time of writing, ETC trades at $18.74, with a 24-hour price increase of 2.52% and a 22.89% seven-day growth in value.

Can Ethereum Classic Bulls Defend The Ongoing Rally?

Buyers took charge of the market between June 23 and 24. The increasing buying pressure pushed the trading volume from $151.66 million to over $500 million on June 24.

Though there was a pullback, another uptick in trading volume is noticeable, with a 43.29% increase in the last 24 hours. This suggests the bulls are determined to claim the $20 level and could achieve the target if the uptick in trading volume continues. 

Ethereum Classics key support level currently stands at $18.42 on its TradingView daily chart. The bulls are working with the $19.44 resistance level in mind. But the ETC price may shoot above $20 once the bulls successfully push the token off the $19.44 resistance.

The cryptocurrency market outlook shows recovery signs as most coins trade in the gre...

Bitcoin investment sentiment turned bullish after largest weekly fund flow in a year (Pixabay)

(Florian Wehde/Unsplash)

Phishing attack hack hook keyboard (Shutterstock)

(Ian Suarez/CoinDesk)

Stunning view of Lisbon from park to sea (Sally Wilson/Pixabay)

(Eugene Kuznetsov/Unsplash)

(CoinDesk)

As veterans of past city lists we aimed to produce a meaningful ranking of the best places in the world to live and work in crypto, blockchain and Web3. Heres how we did it.

NYC Mayor Eric Adams (Danny Nelson/CoinDesk)

Disney CEO Bob Iger (Lionel Hahn/Getty Images)

Parker Lewis, left, interviews Chad Harris at Bitcoin Commons in Austin, Texas, in May 2023. (Brad Keoun/CoinDesk)

Andreessen Horowitz General Partner Chris Dixon at TechCrunch Disrupt San Francisco 2019. (Steve Jennings/Getty Images for TechCrunch)

Caitlin Long, founder and CEO of Custodia Bank (Ali Powell)

(Kamil Rogalinski/Unsplash)

(Antonio Masiello/Getty Images)

South Korean President-elect Yoon Suk-yeol of the main opposition People Power Party celebrates with supporters at the party's headquarters on March 10, 2022 in Seoul, South Korea. (Chung Sung-Jun/Getty Images)

(Chris McAndrew)

Gemini co-founders Tyler and Cameron Winklevoss (Getty Images)

Vitalik Buterin in 2015 (John Phillips/Getty Images for TechCrunch)

This is an opinion editorial by Joakim Book, a research fellow at the American Institute for Economic Research and contributor to HumanProgress.org and the Mises Institute.

The first thing that met attendees when entering the venue at BTC Pragues inaugural conference was the smell: a strong, new-rubber-type of scent that permeated most of the main stage area. The second was the light or the absence thereof: it was dark, with massive screens at regular intervals and neon lights shining elegantly across the ceiling.

What likely remains etched into participants memories is the dim, purple haze and those comfy, white VIP sofas in the front (paying up for VIP tickets has its perks!). A large BTC logo and slowly bobbing lamps hanging above the panelists on the main stage brought a spooky, somewhat nauseous feel like the whole stage was slowly twirling. As if I werent already lightheaded from my travels, endless conversations and lack of sleep that I wholeheartedly blame on the many pre-, side- and after-events going on in Pragues thriving nightlife.

As I took it all in, I pulled out my notepad and scribbled, The techno raves of my teenage years called and want their ambience back.

For the first few sessions of all three days, it was empty in the main hall. Eerie, even. Where is everybody?

Meandering Paths

The expo hall seemed to be where most of the cool kids hung out; the rest perhaps basking in the morning sun along the river in downtown Prague.

Littered with hundreds of Bitcoin companies and thousands of participants, the expo hall was dominated by a two-story centerpiece booth occupied by SatoshiLabs, the conferences organizer. It reached out, symbolically, into the four corners of the space with each section dedicated to its four business brands, one of which, Vexl Foundations KYC-free, peer-to-peer bitcoin app, launched during the conference. Around it, lining the edges of the football-field-sized hall were miners, hardware wallet makers, a dozen or so different backup-on-steel products, book publishers and plenty of merch and consumables. There were so many booths hidden behind something else, in fact, that after several walkthroughs I still found new companies or conference booths I hadnt noticed before. I live and breathe the Bitcoin space and yet I didnt know half of these companies or their products: Bitcoiners truly are prolific, new products and companies popping up like mushrooms after the rain (to anglicize a Czech saying).

The official...

ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SECs approval.

Road directional arrows (The Image Bank RF/Getty Images)

While crypto traders have been emboldened by Bitcoins impressive rally, especially in light of the SECs recent lawsuits against major crypto exchanges Binance and Coinbase, one key trading pair has nevertheless suffered as a result. Ethereum/Bitcoin (ETHBTC), the widely watched trading pair which combines the crypto markets number two coin with its number one coin by market cap, just closed at a 300-day low. Why is this happening and whats happened in the past after similarly weak periods for ETHBTC? Lets take a closer look at the price history to find out.

Bitcoins Dominance Explodes Higher

Just a few weeks ago, ETHBTC closed at a multi-week high and looked poised to move higher, but the recent surge in Bitcoin Dominance caused ETHBTC to hit a 300-day low, just shy of a new 52-week low.

The popular Dominance metric can be calculated for any crypto market asset and is simply a measure of any coin or tokens share of the total cryptocurrency markets capitalization, expressed as a percentage.

Bitcoin Dominance now sits at just over 51% after climbing from below 42% at the start of the year. Why the surge in Bitcoins Dominance? A variety of factors appear to have contributed to the sudden jump in Bitcoins Dominance chart, with Blackrocks recent filing for a new spot Bitcoin ETF arguably being the key driver.

While both Bitcoin (BTC) and Ethereum (ETH) have moved sharply higher in recent sessions, Bitcoins recent relative strength to Ether has pushed ETHBTC to a multi-month low. Lets take a look at what past 300-day lows for ETHBTC have meant for this key crypto market ratio.

As always, because the number of occurrences will vary depending on holding time, well start by listing the number of times that ETHBTC has closed at a 300-day low next to our hypothetical hold times of 7 days, 15 days, 30 days, 60 days, 90 days, 180 days, and 365 days. Holding time is defined as the amount of time one held an asset before exiting. For example, if one had hypothetically purchased ETHBTC following the...

Altcoin season beckons (Mar Cerdeira/Unsplash)

Discover the process of text-to-image synthesis using DALL-Es autoencoder architecture and learn how it can transform textual prompts into images.

Bitcoin Cash open interest has surged to 2021 levels. (Shutterstock)

On-chain data shows that XRP traders have been selling at a loss recently, unlike investors of the other top assets. Heres why this can be bullish for the coin.

XRP Loss Transactions Have Outweighed Profit Ones Recently

According to data from the on-chain analytics firm Santiment, XRP has differed from the rest of the top cryptocurrencies in terms of the loss-taking behavior of the investors. The relevant indicator here is the ratio of on-chain transaction volume in profit to loss, which, as its name already hints, tells us about how the profit-taking volume of a specific coin compares with the loss-taking volume.

This metric separates these two volumes by going through the chain history of each coin being transacted to see what price it was previously moved at. If this previous selling price for any coin was less than the current spot value, then that particular coin is now being sold at a profit.

Naturally, all such coins will contribute towards the profit-taking volume. On the other hand, the coins of the opposite case will add to the loss-taking volume.

Now, here is a chart that shows the trend in this ratio for some of the top assets in the sector over the last few months:

As displayed in the above graph, the indicator has recently had positive values for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Cardano (ADA). Whenever the metric has such green values, it means that the profit-taking volume is more than the loss-taking volume currently.

This profit-taking spree from the investors of these cryptocurrencies isnt unexpected, as the prices of the various assets have observed a significant uplift during the past week. Following such sharp rallies, at least some holders tend to harvest their gains.

The odd one out here is XRP, however. From the graph, its visible that the metric has turned negative for the asset recently, implying that the investors have been participating in a net amount of loss-taking.

The reason behind these holders selling at a loss would be the poor performance of the coin relative to the other top assets, as XRP has in fact registered a decline of 1% during the past week.

Usually, loss-taking is a sign that the investors of the asset have started to give up, as they likely believe that the coin would only se...

Trading desk (Wance Paleri/Unsplash)

The recent Bitcoin rally has led to speculation that the price could rise further with the introduction of spot ETFs. The arrival of ETFs, especially from reputable companies such as BlackRock and Fidelity, could boost institutional investor confidence and lead to a surge in the Bitcoin price. The one million dollar question, however, is: how high? Clues to answering this question can come from various metrics and data.

One such data point was provided yesterday by CoinShares Chief Strategy Officer Meltem Demirors via Twitter. As she writes, the Bitcoin spot ETF news is not the only story. Many of the largest financial institutions in the US are currently actively working to provide access to BTC and more. In total, there are more than $27 trillion in client assets waiting on the sidelines.

With BlackRock, the worlds largest asset manager has filed a Bitcoin ETF application. Rumour has it that the worlds number three, Fidelity Investments, is also flirting with a Bitcoin ETF. Bitcoin ETF applications from Invesco and WisdomTree (both top 10 ETFs) are a fact.

How High Can Bitcoin Rise? All-Time High? Quadruple?

If just a fraction of the $27 trillion in client money managed by the largest asset managers were to go into Bitcoin spot ETFs, the impact on price would be gigantic. Just 1% would amount to over $270 billion (rather more because not all Bitcoin ETF applicants are included in the chart). In comparison, the Bitcoin market cap is currently $590 billion.

As NewsBTC reported two weeks ago, the performance of the gold price after the first gold ETF in November 2004 could also be a metric that provides a glimpse into the future. The launch of the first gold ETFs led to a fabulous gold rally. While the price of gold was still at $400 at the time of approval, it reached $600 in 2006 and $800 in 2008. Seven years after approval, in 2011, gold reached its preliminary high of almost $2,000 (+359%).

Reno...

Robinhood is adjusting to a slowdown in customer activity. (Unsplash)

(Pixabay)

Nextberries' digital designs (SYKY)

The underpinning technology for the U.K.s CBDC could use an alternative to blockchain technology.

The co-founders of ELOOP and Peaq told Cointelegraph that tokenizing high-value assets, like a fleet of ride-sharing cars, will help bring Web3 into the mainstream.

Fableborne (Pixion Games)

Tezos logo (Tezos)

Bitcoin margin and futures markets display strength as institutional appetite surges after multiple spot ETF requests.

Zimbabwe flag (Nabil Kamara/ GettyImages)

Jeremy Allaire. (Danny Nelson/CoinDesk)

Bitcoin speculators remain important for BTC price analysis as their profitability nears classic selling levels.

Apple iPhone. (Jonas Vandermeiren/Unsplash)

EU lawmakers agreed new rules for banks with crypto (Pixabay)

Fireblocks sign at Miami airport during Bitcoin Miami conference 2022 (Danny Nelson/CoinDesk)

The new rigs will add 7.6 EH/s to the firms self-mining capacity, but wont be installed until the first quarter of 2024.

Thousands in grants were given out by former FTX executives for niche projects, according to a report by FTX restructuring chief John Ray.

(Unsplash, Kanchanara)

During a panel at the Australian Blockchain Week, executives from Australias major banks explained why they added restrictions on payments to local crypto exchanges.

Injective (INJ) has been positive in 2023, racking up a nearly 500% price increase since the turn of the year. This significant rise ranks the cryptocurrency as one of the years best-performing assets.

Over the past week, the INJ token has been on an upward trend, adding more than 26% to its value.

Injective Price Records Daily 8% Gain Price Action

INJ, the native token of the Injective ecosystem, has maintained its recent bullish momentum, registering an 8.3% increase in the last 24 hours. As of this writing, the token is valued at $7.53, according to data from CoinGecko.

However, a broader look at the market reveals that the Injective price has been range-bound for the past few weeks. Since reaching a yearly peak of $9.32, the INJ price has moved mostly sideways, albeit 19.2% from its 2023 high.

With the choppy market condition, it is quite difficult to determine which overall trend is forming. The on-chain indicators seem quite indecisive at the moment. The token rebounds at the $6 price point, acting as a support zone. 

The INJ token boasts a market capitalization of nearly $600 million, ranking it the 73rd biggest cryptocurrency. Additionally, the coin has a 24-hour trading volume of roughly $75 million, representing an increase of 131.2% in the past day.

According to the price prediction site CoinCodex, the general sentiment surrounding INJ is currently bullish. The team expects this token to maintain its bullish run and gain a further 13.08% in the next five days to trade at $8.59. 

In addition, CoinCodex makes a bold prediction of INJ reaching a market price of $16.72 in the next 30 days, indicating a plausible 126.25% price on the tokens current price. 

Injective Protocol Continues To Make Positive Waves

The decentralized Injective protocol has been on an ascent since the start of 2023, evolving in innovation and adoption. These developments have been crucial to the positive sentiment surrounding its token (INJ), contributing to its price growth and the enhanced activity on the Injective blockchain.

On June 23, Injective announced that it had reached its networks 240 million transaction mark. This is perhaps the most significant evidence of the decentralized blockchains growing popularity.

Another of Injectives recent developments is the...

Tron price is up over 5% and gaining pace above $0.0725 against the US Dollar. TRX is outperforming Bitcoin and could rise further toward $0.0850.

• Tron is slowly moving higher above $0.0720 pivot level against the US dollar.
• The price is trading above $0.072 and the 100 simple moving average (4 hours).
• There was a break above a key bearish trend line with resistance near $0.0735 on the 4-hour chart of the TRX/USD pair (data source from Kraken).
• The pair is likely to continue higher if it clears the $0.0750 resistance level.

Tron Price Jumps 5%

In the past few days, Trons price saw a decent increase above the $0.0675 level against the US Dollar, similar to Bitcoin and Ethereum. TRX climbed above the $0.070 resistance and the 100 simple moving average (4 hours).

There was a clear move above the 23.6% Fib retracement level of the key decline from the $0.0849 swing high to the $0.0646 low. Besides, there was a break above a key bearish trend line with resistance near $0.0735 on the 4-hour chart of the TRX/USD pair.

TRON price is now trading above $0.072 and the 100 simple moving average (4 hours). On the upside, an initial resistance is near the $0.0750 zone. It is close to the 50% Fib retracement level of the key decline from the $0.0849 swing high to the $0.0646 low.

Source: TRXUSD on TradingView.com

A close above the $0.0750 resistance might send TRX further higher. The next major resistance is near the $0.0800 level, above which the bulls are likely to aim a larger increase toward the key $0.0850 zone in the coming days. Any more gains could set the pace for a move toward the $0.088 level.

Are Dips Supported in TRX?

If TRX price fails to clear the $0.0750 resistance, it could correct lower. Initial suppo...

The top eight financial institutions with an interest in Bitcoin and crypto have a whopping $27 trillion in combined assets under management.

Tezos, the self-amending proof-of-stake blockchain, and an Ethereum competitor, recently implemented its latest upgrade via Nairobi. In a release, the 14th network improvement went live at block #3,760,129, tagging along platform enhancement and the simultaneous unveiling of the Tezos Ecosystem DAO. 

Even so, while the upgrade is bullish for network users, there was no significant impact on XTZ prices. As of writing, XTZ, the native currency of the Tezos network, has been lower in the past 24 hours and is yet to reverse June 2023 losses.

The Nairobi Upgrade

The Nairobi upgrade was the networks 14th update and a collaborative effort by numerous teams and has introduced several mainnet enhancements that could improve user experience. Teams include Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori. 

Key improvements tagged by the Nairobi upgrade include enhanced transaction throughput meaning transactions can now be processed faster, and transaction fees will be lower. With this release, the Tezos protocol is faster, as its throughput has increased eight times. This improvement applies to various operations such as transactions, smart contract calls, Smart Rollup maintenance operations, and management operations. 

Moreover, the blockchain now also supports Smart Rollup functions. With new functions and internal Layer-2 messages, Tezos can synchronize rollup kernels seamlessly with future Tezos protocol upgrades. Specifically, the blockchain has also improved its terminology for better communication and understanding. For faster consensus, the upgrade enhances the speed of pre-attestation propagation.

Tezos Ecosystem DAO

The Tezos community welcomes the Tezos ecosystem DAO to streamline on-chain funds deployment and treasury management for vital initiatives within the Tezos ecosystem. 

With its launch, the decentralized automated organization (DAO) allows community members to submit funding requests for Tezos-related initiatives. These requests undergo curation, voting, and distributing XTZ. The DAO will be transparent, ensuring all activities are publicly visible to enhance trust and accountability within the community.

Initially, the DAO is governed by a three-out-of-five multi-sig setup, with participating organizations like Trilitech, Tezos Foundation, and Tezos India Foundation holding the keys.

Despite all these changes, XTZ prices remain under pressure and trail the performance of Bitcoin and Ethereum. As of writing on June 26, XTZ is changing hands at $0.80, up 13% from June 2023 lows. However,......

0.00010 BTC = 3.08 USD
1.00 USD = 0.00003 BTC
Converter

Ethereum price is struggling to settle above the $1,920 resistance against the US Dollar. ETH is still at risk of a drop toward the $1,790 support.

• Ethereum is still facing a major hurdle near the $1,920 resistance.
• The price is trading near $1,870 and the 100-hourly Simple Moving Average.
• There was a break below a short-term contracting triangle with support near $1,890 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could decline further if it remains below $1,920 and $1,930 for a long time.

Ethereum Price Grinds Lower

Ethereums price remained below the key $1,920 resistance zone. ETH failed to stay above the $1,900 zone and extended its decline, similar to Bitcoin.

There was a break below a short-term contracting triangle with support near $1,890 on the hourly chart of ETH/USD. The pair dipped below the $1,865 support and the 100-hourly Simple Moving Average. However, losses were limited below $1,850.

A low is formed near $1,838 and the price is now moving higher. It broke the 23.6% Fib retracement level of the recent decline from the $1,930 high to the $1,838 low.

Ether is now trading near $1,870 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,885 level or the 50% Fib retracement level of the recent decline from the $1,930 high to the $1,838 low. The next major resistance is near the $1,900 level.

Source: ETHUSD on TradingView.com

The key breakout zone is still near the $1,920 and $1,930 levels. If the bulls manage to pump Ethereum above the $1,930 zone, the price might gain bullish momentum. The next resistance sits near $2,000, above which the price could rise toward the $2,050 level. Any more gains could send Ether toward the $2,120 resistanc...

Binance Australia head Ben Rose claimed the exchange got less than a day's warning from its payments partner before it was "cut off" from the local banking system in May.

Roughly 150 full-time employees are being laid off, according to internal company messages.

Bitcoin daily chart (CoinDesk)

Agents from the United States Secret Service San Francisco Field Office have answered a burning question about its NFT collection. What does it do?

Remember HarvestKeeper, the AI project that scammed users for $1 million? You can expect similar AI-based scams to soar over the next couple of years.

Thomas Jordan, head of the Swiss National Bank, announced the project at a conference in Zurich; the central bank still feels prudent about a retail CBDC, though.

An onslaught of Bitcoin ETF applications could help BTC price find long-lasting support at the $30,000 level.

Bitcoin weekly chart (CoinDesk Indices)

The ban comes less than a week after the House proposed a bill to create a federal artificial intelligence commission.

The legal teams for Binance, Binance.US and CZ filed a motion for the court to order the SEC to comply with applicable rules of conduct following allegedly misleading statements.

(MetaBirkins, Instagram)

Generative AI leverages large data sets and sophisticated models to mimic human creativity and produce new images, music, text and more.

Tracing funds is highly challenging, according to the FTX Debtors second interim report, and there is no doubt that that was by design.

Sam Bankman-Fried leaves a federal court in Manhattan (Elizabeth Napolitano / CoinDesk)

Rep. Maxine Waters (D-Calif.)

U.S. District Court for the District of Columbia (Jesse Hamilton/CoinDesk)

Hayden Adams, CEO of Uniswap Labs. (LinkedIn)

Rep. Maxine Waters gave Janet Yellen and Gary Gensler a deadline of June 30 to respond to her requests on the Digital Asset Market Structure bill proposed by Republican lawmakers.

Weekly fund flow (CoinShares)

A Hut 8 mining site (Hut 8)

Three trial use cases have been completed as part of the project, and the report uses them as a framework for consideration of financial market infrastructure.

BCH price through the past seven days (CoinDesk)

(Bruno Sanchez-Andrade Nuo/Flickr)

The Optimism layer-2 network saw less than 300,000 transactions per day around the time of the upgrade, but this number increased to over 500,000 afterward.

Hong Kong's leading financial institution, HSBC, has made a significant move by allowing its customers to trade Bitcoin exchange-traded funds (ETFs). This development marks a notable shift in the stance of traditional banks towards bitcoin, as HSBC has previously been cautious in embracing it.

Reporting by CoinDesk highlighted that HSBC's decision to enable bitcoin ETF trading for its customers comes after several prior developments that saw other banks also allow such activity. Notably, Samsung Asset Management launched the Samsung Bitcoin Futures Active ETF on the Chicago Mercantile Exchange. Prior to that, the CSOP Bitcoin Futures ETF launched on the same platform, receiving approximately $53 million in initial investments.

The decision by HSBC to allow its customers to trade bitcoin ETFs comes amidst a surge of institutional interest in bitcoin ETFs in the U.S., potentially igniting a race between countries to attract capital with these products.

The developments are also indicative of the evolving attitudes towards bitcoin among financial institutions. As traditional banks begin to embrace bitcoin, it signals a potential shift towards wider adoption and integration of bitcoin into the mainstream financial system. The merits of this are debatable, but on the surface, that appears to be what these moves signify.

ETFs are popular investment vehicles, and the introduction of Bitcoin ETFs would open up new opportunities for institutional investors to participate in the bitcoin market within a regulated framework. While this comes at the cost of many of the inherent properties that make bitcoin valuable, institutions prefer the rails of regulation and are more likely to be trusting of firms like BlackRock. There are, of course, exceptions to this such as MicroStrategy, a company that holds its own bitcoin. 

Azuki Elementals. (Chiru Labs/modified by CoinDesk)

CoinShares latest weekly inflow report shows a substantial increase in investor appetite for digital asset investment products, with Bitcoin leading the rally.

Hong Kong skyline (Shutterstock)

BitGo CEO Mike Belshe. (Shutterstock/CoinDesk)

Binance has made a decision to reverse its initial plan of delisting certain privacy coins in Europe. This change in course comes after the exchange revised its operations to align with the local regulatory requirements.

According to the developers of Verge (XVG) and Secret (SCRT) cryptocurrencies, a significant outcome was achieved. Seven privacy-focused tokens were stopped from being de-listed. These tokens, which were at risk of being removed from the listings, have been successfully retained.

A comment received from the cryptocurrency exchange on June 26 states:

After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements.

The crypto exchange also mentioned that due to its status as a registered exchange in multiple European Union jurisdictions, it is obligated to comply with local regulations.

These regulations mandate that exchanges have the capability to monitor transactions involving the coins listed on their platform.

In May, Binance communicated via email to its customers in France, Italy, Spain, and Poland regarding changes to its services. The message outlined the discontinuation of trading services for 12 cryptocurrencies known for enabling anonymous transactions.

Related Reading: Avalanche (AVAX) Rumbles With 18% Gain Is A Trend Reversal On The Horizon?

Prominent privacy coins such as Monero, Dash, and Zcash were among those affected. Additionally, lesser-known tokens like XVG and SCRT were also scheduled for delisting from the exchanges offerings.

Following the retraction of the decision to delist privacy-focused tokens, several projects have utilized Twitter as a platform to provide reassurance to their community members.

Binance Complies As EU Sets Standards For Digital Assets

The decision to delist privacy-focused tokens came as a response to the European Unions implementation of the Markets in Crypto Assets (MiCA) regulation.

This regulation includes the travel rule for crypto transactions, which requires enhanced transparency and information sharing. Consequently, there is a potential risk for firms facilitating the trading of privacy coins to be non-compliant with EU law.

EU policymakers have established clear regulations with the goal of positioning Europe as a leading h...

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Riot Platforms, the largest public U.S. Bitcoin mining company in terms of developed capacity, has made a groundbreaking announcement regarding a partnership with Bitcoin ASIC manufacturer, MicroBT. The two major bitcoin companies will bring the production of MicroBTs ASICs to America. The collaboration aims to secure miners for Riot's Corsicana facility, significantly boosting the company's mining capabilities. According to a press release shared with Bitcoin Magazine, this development comes as Riot's Corsicana facility is set to increase the company's developed capacity to 1.6 GW.

This agreement directly repudiates every major criticism of our industry, the press release stated. For those concerned about our energy consumption, these machines will be more efficient than ever For those who say Bitcoin mining data centers do not actually create jobs, we are helping to create hundreds of jobs, between the MicroBT manufacturing facility in Pennsylvania, and our state of the art data center coming to Corsicana, Texas.

One of the key highlights of this partnership is the expected increase in Riot's self-mining hash rate capacity. The press release states that by mid-2024, upon the full installation of the machines from this order, Riot's self-mining hash rate capacity is projected to surge by approximately 61% to over 20 EH/s. This significant boost in capacity further establishes Riot's position as a leading player in the Bitcoin mining industry.

Moreover, this partnership between Riot and MicroBT also marks a pivotal moment for the industry. Bitcoin miner manufacturing has traditionally been concentrated in Asia, but this new partnership with Riot strengthens the domestic supply chain in the United States. It expands the options available to Bitcoin miners, offering them a robust selection of machines.

Importantly, the collaboration between Riot and MicroBT will not only have a positive impact on the industry but also on local job creation. The machines will be manufactured by MicroBT at a new facility in the United States, generating employment opportunities in the local area.

Riot's partnership with MicroBT signifies a major milestone within the Bitcoin mining industry. With the increased hash rate, domestic manufacturing and job creation, this collaboration is set to shape the future of Bitcoin mining in the United States and contribute to the growth of the industry as a whole.

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