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• Jul 24, 10:43 PM Cryptoslate

  Lummis plans to propose Fed to adopt Bitcoin as reserve asset

  Senator Cynthia Lummis intends to introduce legislation for the Federal Reserve to hold Bitcoin as a strategic reserve asset. The proposal aims to diversify the Fed's foreign currency holdings with Bitcoin. Lummis seeks support from Senate Banking Committee colleagues and hopes for Donald Trump's endorsement. The US currently holds 210,000 bitcoins valued at over $66,000 per token. The bill faces challenges under the current administration's cautious approach to crypto. If passed, it could significantly impact US financial policy and Bitcoin's value.

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• Jul 24, 3:33 PM Coindesk

  Bitstamp will begin distributing Bitcoin, Bitcoin Cash to Mt. Gox creditors on Thursday

  Bitstamp is set to start distributing Mt. Gox proceeds on Thursday, marking a significant milestone for customers who lost funds in the 2014 hack. The payout includes Bitcoin, Ethereum, and Bitcoin Cash tokens received from Mt. Gox trustees. This distribution comes nearly a decade after the exchange's collapse, offering long-awaited compensation to affected users. UK customers are excluded from the initial distribution phase.

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• Jul 24, 12:00 PM Cointelegraph

  Ferrari to launch crypto payments in Europe following US success

  Ferrari is expanding its crypto payment system to Europe after a successful US launch. The Italian luxury car maker will roll out crypto payments to European dealers by July 2024, with plans for global expansion where legally accepted. Ferrari's system converts crypto to fiat, protecting dealers from price volatility. The move follows partnerships with crypto payment firms like BitPay in the US market.

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• Jul 23, 6:45 PM Cryptoslate

  Trump leads Harris in Polymarket odds with swing state advantage

  Polymarket predicts Trump has a 64% chance of winning the presidency compared to Harris's 34%. Trump leads in all key swing states, with Republicans holding significant advantages in Georgia, Arizona, and Nevada. The market forecasts a 40% likelihood of a Republican sweep across the presidency, Senate, and House. Harris remains the frontrunner for the Democratic nomination with 92% odds. Polymarket's predictions have proven accurate in the past, notably forecasting Biden's withdrawal from the presidential race.

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• Jul 23, 6:03 PM Bitcoin Sistemi

  Toyota explores Ethereum blockchain integration for autonomous vehicles

  Toyota is exploring Ethereum blockchain tech for its vehicles, developing a Mobility Oriented Account using the ERC-4337 standard. This initiative aims to support future autonomous driving and maintain account access if private keys are lost. Toyota Blockchain Lab seeks input from the Ethereum community, including proposals like EIP-7702, as they design this blockchain-based vehicle integration.

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• Jul 23, 5:30 PM Beincrypto

  Bitcoin dominance drops signaling potential altcoin bull run

  Bitcoin dominance has fallen from 55.8% to 55.4%, while the altcoin market cap increased by 3.8% to over $1.05 trillion. This shift, coupled with positive investment inflows across various altcoins, suggests a potential bull run for non-Bitcoin cryptos. The TOTAL2 chart and a possible bullish EMA crossover further support this outlook. However, some analysts caution that it might take two more months before altcoins outperform Bitcoin. The altcoin rally could be invalidated if Bitcoin approaches $70,000.

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• Jul 23, 4:10 PM dYdX

  dYdX v3 website compromised, users warned to avoid access

  dYdX's v3 interface has been compromised, prompting an urgent warning to users. The crypto exchange advised against visiting dYdX.exchange or clicking any associated links until further notice. This security breach is specific to the v3 platform and does not affect dYdX v4. The exchange is investigating the issue and will provide updates as they become available.

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• Jul 23, 3:30 PM Cryptoslate

  Large Ethereum holders cashed out before ETF launch

  Large Ethereum holders sold off ahead of US spot ETH ETF launch, causing a spike in realized profits. Wallets holding 10,000-100,000 ETH cashed out $626 million on July 22. Long-term holders and those holding for 6-12 months were primary sellers. This sell-off suggests caution before potential market volatility and may indicate a shift towards ETH ETFs for institutional investors due to regulatory oversight, tax benefits, and improved liquidity.

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• Jul 23, 3:30 PM The Block

  Founders Fund leads $11 million round for Pudgy Penguins' parent to build new Layer 2 blockchain

  Igloo, Pudgy Penguins' parent company, raised $11 million in a round led by Founders Fund to develop Abstract, a new consumer-focused Layer 2 blockchain. Abstract, built using ZK Stack and EigenDA, aims to simplify dApp development. The project is led by Michael Lee, Luca Netz, and Lorenzo Melendez, with a team of crypto personalities. Abstract's testnet is live, with mainnet launch expected by year-end. Founders Fund partner Joey Krug praised Pudgy Penguins' distribution edge, positioning Abstract to onboard mainstream users to crypto.

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• Jul 22, 6:05 PM Cointelegraph

  Boden trader loses $8M as memecoin season gains momentum

  A trader lost nearly $8M trading the Biden-linked BODEN token, with the investment down 99%. Despite this, the memecoin sector shows signs of growth. MOG reached a new all-time high with an $820M market cap, while MEW surged 39% in 24 hours. Traders anticipate a potential memecoin season, with many tokens expected to hit new highs. The memecoin index against Bitcoin suggests the next leg of the bull cycle may be approaching for these crypto assets.

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• Jul 22, 5:28 PM Crypto Briefing

  ETH price may fluctuate as spot ETFs launch on July 23

  Spot Ethereum ETFs are set to launch on July 23, potentially impacting ETH price. Kaiko reports initial inflows could affect crypto valuation. Grayscale plans to convert ETHE trust into a spot ETF with a $1 billion seed. Most issuers offer competitive fee waivers. ETH implied volatility increased, indicating uncertainty around the launch. The market anticipates quick asset accumulation, but a full demand picture may take months to emerge.

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• Jul 22, 3:39 PM The Block

  NYSE Arca confirms approval to list spot Ethereum ETFs from Grayscale and Bitwise

  NYSE Arca certified its approval to list and trade spot Ethereum ETFs from Grayscale and Bitwise. Issuers await SEC's final sign-off for registration statements, expected Monday. Cboe disclosed five spot Ethereum ETFs, including Fidelity's, will launch Tuesday. This follows the SEC's approval of 19b-4 forms in May, marking a significant step for crypto ETFs in the US market.

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• Jul 22, 12:31 PM Crypto Briefing

  Bitcoin may experience breakout before US elections according to QCP Capital

  QCP Capital analysis suggests Bitcoin could rally before US presidential elections. Recent volatility in crypto markets, influenced by political events, has seen Bitcoin fluctuate between $61,000 and $67,000. Institutional interest in $100,000 call options for December remains strong, indicating confidence in a potential year-end surge. Increased options market volatility points to expectations of extreme market movements. QCP Capital favors trades with upside potential, offering a "BTC ETF Win-Range" trade with 5x returns for Bitcoin settling between $90,000 and $110,000 by December 27.

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• Jul 22, 11:59 AM Nansen

  WazirX exploiter moves and sells $8.7 million worth of stolen crypto

  The WazirX exploiter has resumed fund movements, selling $8.7 million in stolen crypto assets. They moved and liquidated 21.16 billion BOB ($800,000) and 6.7 million CHR ($1.6 million), converting proceeds to 2,501 ETH. The funds were transferred to a new address. The exploiter still holds $5 million in various tokens, including CELR, OOKI, and FRONT, which may be sold soon given recent activity.

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• Jul 22, 5:53 AM Cointelegraph

  SEC chair Gary Gensler likely to resign in early 2025 says research firm

  10X Research predicts SEC Chair Gary Gensler will likely resign in early 2025 after Biden's term ends. The firm's founder, Markus Thielen, cites Biden's withdrawal from the presidential race as a key factor. Thielen also suggests potential bullish catalysts for crypto, including rumors of Trump announcing Bitcoin as a strategic reserve asset at an upcoming conference. Analysts remain optimistic about Bitcoin's outlook despite recent US political turmoil.

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