index
This week, a significant amount of Bitcoin was moved out of Mt.Gox wallets as payment arrangements were made to creditors. The news caused anxiety in the cryptocurrency market as the price of Bitcoin fell below $68,000.
bitcoin
A recent poll on the role of cryptocurrencies and their impact on the 2024 presidential election found that nearly half of voters said they expected to include cryptocurrencies in their portfolio, highlighting how important cryptocurrencies are to American voters.
The Mt.Gox wallet saw significant activity as large amounts of Bitcoin were moved in anticipation of payment to creditors. This development had a significant impact on the price of Bitcoin, causing it to fall below $68,000.
Officials from Argentina and El Salvador met to discuss Bitcoin adoption and regulation. Argentine authorities want to leverage El Salabdor's experience to develop a regulatory framework for Argentina's growing cryptocurrency industry.
Long-term Bitcoin holders have begun to regroup for the first time since December 2023, significantly easing selling pressure on these holders. Bitcoin price has now entered a phase where long-term holders are again increasing their holdings.
Ethereum
ENS Labs proposed an ENSv2 upgrade to facilitate easy migration of the protocol to Layer2 networks. Adoption of Layer2 networks has increased significantly, increasing the total value locked (TVL) of these networks to $47 billion.
Analysts also predicted an imminent Ethereum bull market. According to Kaiko Research, the approval of a spot Ethereum ETF is a positive sign for ETH's long-term growth, despite potential short-term difficulties due to expected outflows.
Ethereum co-founder Vitalik Buterin emphasized the unique role Layer2 plays within the Ethereum ecosystem. According to Buterin, Layer2 helps facilitate the co-creation of independent sub-ecosystems that contribute to the broader Ethereum network.
JPMorgan expected lower demand for spot Ethereum ETFs than spot Bitcoin ETFs due to a number of factors. The bank also said additional cryptocurrency ETFs could face obstacles due to the SEC's insistence that most cryptocurrencies be classified as securities.
technology
PayPal launches PYUSD stablecoin on Solana. This move marks the first expansion of PYUSD beyond the Ethereum ecosystem and highlights PayPal’s commitment to expanding its cryptocurrency offerings.
business
Polygon, Polyhedra, and StarkWare challenged xkSync's use of the “ZK” ticker and demanded that Matter Labs withdraw its trademark application for “Zero Knowledge.” But Matter Labs defended its actions, calling its trademarks, including those related to ZK, “defensive.”
security
Gambling platform ZKasino has announced a 72-hour window for investors to request refunds after allegedly pulling out $33 million from the rug. Despite the announcement, there are some doubts about the legality of the refund process.
On-chain investigator ZachXBT claimed that the team behind Solana-based meme coin CAT was responsible for hacking the account of cryptocurrency influencer GCR. According to ZachXBT's investigation, the hack was carried out to manipulate the price of certain tokens.
Popular meme token Normie Coin suffered a critical attack, losing 99% of its token value and shaking up the community.
regulation
Elon Musk will reportedly advise Republican presidential candidate Donald Trump on cryptocurrency during his campaign. The report also claims that discussions between the two representatives are ongoing and that campaign strategists are considering inviting Musk to speak at the Republican National Convention.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
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