2024-07-09

Author

Fernando Fierro
July 09, 2024

Howdy folks,

📉💰 Germany's government continues to shake up the crypto scene, moving 16,400 BTC worth $917 million. Despite market concerns, they transferred the BTC to exchanges like Coinbase and Kraken, fueling fears of a potential sell-off.

Politician Joana Cotar criticizes this move, suggesting it shows a lack of strategic planning.

In other news:

📈📝 Ethereum ETF amendments are rolling in, with VanEck and 21Shares leading the charge. VanEck disclosed fees and seed capital, indicating progress despite SEC delays.

Bloomberg's Eric Balchunas remains optimistic about a near-term approval.

🛠️💸 Bitcoin miners are struggling post-halving, with revenue plummeting and mining difficulty dropping by 5%.

Some suggest a 'HODL tax' to support miners, but this proposal faces backlash for potentially undermining Bitcoin's fundamental incentive structure.

💼🔄 Crypto investment funds saw a $441 million inflow last week, rebounding after weeks of outflows. Bitcoin led with 90% of the inflows, while Solana and Ethereum also saw significant investments.

Experts attribute this to weak asset prices presenting buying opportunities.

DailyCoin Daily Meme

Philippine Peso Stablecoin PHPC Debuts on Ronin Network

Philippine Peso Stablecoin PHPC has launched on the Ronin Network to enable fast and low-cost transactions with on-chain pesos. Read more on DailyCoin.

SGX Shuts Out Crypto, Says No Plan for “Immediate” Listing

Singapore Exchange (SGX) has no immediate plans to allow cryptocurrency listings on its bourse, citing the lack of “sustainable ecosystem support.”

Ethereum Market Gets the Jitters as ICO Project Offloads $100M Ether

ETH exchange deposits from Golem Network, one of the first Ethereum projects to raise funds via an initial coin offering, have sparked concern.

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DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.

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