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• Jul 5, 8:15 PM Crypto Briefing

  Mt. Gox Bitcoin movements trigger record liquidation levels

  The recent transfer of Bitcoin and Bitcoin Cash by Mt. Gox to a new wallet led to a drastic 6% drop in Bitcoin's price, causing over $1 billion in market liquidations, the highest since the FTX debacle. Despite a partial price recovery, ongoing investor fears and external pressures from US inflation concerns continue to influence market volatility. This incident underscores the market's sensitivity to major creditor payouts and regulatory remarks.

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• Jul 5, 1:50 PM Crypto Briefing

  SlowMist reports a 50% increase in crypto security incidents in H1 2024

  In the first half of 2024, the crypto industry experienced a significant rise in security incidents, with a 50% increase from the previous year, resulting in losses worth $1.43 billion. SlowMist's report indicates that DeFi protocols were predominantly targeted, involving sophisticated attacks and substantial financial implications, particularly with Ethereum recording the highest losses. The landscape faced evolving threats, including new money laundering techniques and regulatory measures across various regions, further complicating the ecosystem's security challenges.

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• Jul 5, 6:45 AM Crypto Briefing

  Mt. Gox starts repayments in Bitcoin and Bitcoin Cash

  Mt. Gox, once the leading crypto exchange, has begun repaying its creditors with Bitcoin and Bitcoin Cash after almost a decade. The Tokyo-based exchange, known for handling over 70% of global Bitcoin transactions at its peak, faced significant security issues leading to its collapse in 2014 with a loss of nearly 744,408 Bitcoins. This repayment initiative follows the recent closure of a lengthy bankruptcy process.

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• Jul 4, 9:45 PM Cryptoslate

  German MP criticizes government's Bitcoin sales, warns of market impact

  Joana Cotar, a Bundestag member, has criticized the German government for selling a substantial portion of its Bitcoin holdings, recently transferring over $195 million worth of Bitcoin to exchanges like Coinbase, Kraken, and Bitstamp. She warned that these large-scale liquidations could destabilize the crypto market and negatively impact Bitcoin's value. Cotar's comments come amidst debates on Bitcoin's role as a strategic reserve currency in the US and precede a lecture on national Bitcoin strategies, aiming to discuss its potential in strengthening economies through innovative financial instruments like Bitcoin-backed bonds.

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• Jul 4, 6:15 PM Crypto Briefing

  Bitcoin's EMA 200 dip triggers mixed analyst views on potential rebound

  Bitcoin briefly fell below its important 200-day exponential moving average (EMA 200), stirring varied reactions among crypto analysts. Altcoin Sherpa minimized the dip's impact, suggesting it might be a buying opportunity despite expecting volatility and uncertainty about finding the bottom price. Conversely, Michaël van de Poppe and Rekt Capital observed potential further declines, with Bitcoin possibly reaching as low as $50,000. The recent 21% pullback in Bitcoin's price over 45 days aligns closely with historical retracement levels.

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• Jul 4, 2:11 PM Crypto Briefing

  SEC targets crypto venture capital firms in securities crackdown

  The Securities and Exchange Commission (SEC) has intensified its regulatory efforts by investigating cryptocurrency venture capital firms for potentially operating as unregistered securities dealers. This move is part of a broader SEC crackdown under Gary Gensler's leadership, targeting major crypto exchanges and now expanding to include venture capitalists and DeFi applications. The firms are scrutinized for their promotional activities and discounted token deals, which may conflict with securities laws, marking a significant shift in the enforcement landscape for the crypto industry.

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• Jul 4, 1:10 PM Crypto Briefing

  Bitcoin falls below $60K with market-wide liquidations topping $295M

  Bitcoin has dropped below $60,000, driven by significant selling pressure and triggering over $77 million in Bitcoin long liquidations. This event is part of broader market-wide liquidations totaling $295 million. Ether, SOL, and DOGE also experienced substantial losses. The anticipation of asset distribution from the defunct Mt. Gox exchange and potential miner sales has increased market uncertainty, contributing to the downturn. Despite this, derivatives traders maintain a positive outlook for future price increases, particularly in ether.

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• Jul 4, 12:10 PM Crypto Briefing

  Justin Sun proposes over-the-counter Bitcoin purchase from German government

  Justin Sun, founder of Tron, has offered to buy Germany’s Bitcoin holdings through over-the-counter deals to prevent market disruption. This proposal comes as Germany transferred 1,300 Bitcoin ($75.5 million) to exchanges, potentially signaling a liquidation or reallocation strategy. Germany’s total Bitcoin assets are valued at about $2.3 billion, raising concerns about market impact from large-scale transactions.

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• Jul 4, 3:10 AM Crypto Briefing

  El Salvador maintains daily Bitcoin buys despite market challenges

  Despite the recent plummet in Bitcoin prices influenced by Mt. Gox repayments and a downbeat economic forecast, El Salvador continues its strategy of purchasing one Bitcoin daily. The country has been accumulating Bitcoin in a government-controlled cold wallet since mid-March, as part of President Nayib Bukele’s initiative which aligns with the nation's broader commitment to Bitcoin integration, including its status as legal tender since September 2021.

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• Jul 3, 9:25 PM Cointelegraph

  Bitwise amends S-1 for Ether ETF, hints at July trading start on NYSE Arca

  Bitwise has updated its S-1 registration with the SEC, paving the way for a spot Ether ETF to be traded on NYSE Arca. The amendment includes a fee waiver and aims for a swift post-registration launch. While no specific date was provided, expert commentary suggests trading could commence in July, following the recent SEC filings and prior approvals for similar crypto ETFs.

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• Jul 3, 7:58 PM Bitcoinist

  Donald Trump supports Bitcoin as a potential strategic reserve for the US

  Former President Donald Trump has endorsed Bitcoin, suggesting its potential role as a strategic reserve asset to enhance US geopolitical power and economic stability. He warned that restrictive policies would favor China and Russia, aligning with views from influential figures who propose that Bitcoin could safeguard the US dollar's value and diversify Federal Reserve holdings. This has spotlighted Bitcoin’s relevance in international trade and statecraft.

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• Jul 3, 5:20 PM Crypto Briefing

  Solana meme coins outpace Ethereum in 2024 gains

  In 2024, Solana-based meme coins have substantially outperformed their Ethereum counterparts, recording average returns of 8,469% versus 962% for Ethereum. This discrepancy underscores a major influx of speculative investment into the Sol relief. Notable crypto tokens like WIF and BONK on Solana have fueled further capital migration and investment due to their substantial rallies. Additionally, the emergence of political meme coins, specifically the MAGA (TRUMP) token, has gained significant attention with a 5,100% increase, spurred by political endorsements and campaign support, reflecting a broader integration of crypto in the upcoming November US elections.

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• Jul 3, 3:21 PM Coindesk

  Polymarket odds on Biden's dropout surge following New York Times report

  Following a New York Times article suggesting President Joe Biden might reconsider his 2024 campaign plans, the crypto betting platform Polymarket saw odds that Biden will drop out of the presidential race jump to nearly 80%. This significant increase from 55% earlier reflects a volatile week where $10 million was staked on this outcome after recent debates raised concerns about Biden's electability against Donald Trump.

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• Jul 3, 12:30 PM Crypto Briefing

  CoinShares study minimizes Mt. Gox Bitcoin sell-off concerns

  A CoinShares study revealed that fears over a major sell-off from the Mt. Gox Bitcoin cache are overblown, predicting minimal impact on Bitcoin prices despite potential market movements. The analysis showed that, even in the worst-case scenario where 75,000 BTC could be sold, the market has the capacity to absorb these volumes confidently, citing resilience shown during other large-scale liquidations like those from the Grayscale ETF. CoinShares also noted that selling pressure on Bitcoin Cash could be more significant due to its lower market cap and liquidity.

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• Jul 3, 10:30 AM Crypto Briefing

  BODEN meme coin collapses as PoliFi sector struggles amid US election

  The PoliFi sector is undergoing a significant downturn linked to the current US presidential race, impacting tokens such as the BODEN, which has seen a drastic 95% drop following a percieved poor debate performance by President Joe Biden. Other political tokens like TRUMP and TREMP also experienced losses, while platforms like Polymarket witnessed increased trading volumes, indicating a pivot toward traditional political betting avenues. Despite the downturn, NOOSUM token noted a slight increase, showing some resilience within the sector.

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