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• Aug 2, 2:17 PM The Block

  Coinbase analysts predict seasonal crypto slump in August

  Coinbase analysts forecast a potential crypto market downturn in August, citing historical trends of reduced activity and token value slumps. Bitcoin spot volumes dropped 19% in August 2023 compared to June, with futures volumes down 30%. Bitcoin has averaged a 2.8% decline during August over the past five years. Lower liquidity and trading volumes may lead to increased volatility. Bitfinex's Head of Derivatives expects Bitcoin to range between $61,000 and $70,000, providing an accumulation zone.

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• Aug 2, 11:00 AM Cryptoslate

  MicroStrategy plans $2B ATM equity offering as Bitcoin holdings grow

  MicroStrategy's Q2 2024 results show its Bitcoin holdings reached 226,500 BTC. The firm raised $800M through convertible notes, called $650M of 2025 notes, and announced a 10:1 stock split. A $2B ATM equity offering is planned. The Bitcoin per share ratio is 0.012, with BTC holdings up 20% since December 2023. MicroStrategy's "BTC Yield" is 12.2% year-to-date, targeting 4-8% through 2027. The company has $3.8B in debt at 1.6% average interest, with $2.2B due in 2030 or later.

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• Aug 1, 11:31 AM Cointelegraph

  Bank of England cuts interest rate for first time in four years

  The Bank of England cut interest rates by 0.25% to 5%, ending a period of high rates. This surprise move could boost Bitcoin's price, as easing monetary policy typically benefits risk-on assets. However, BTC remains range-bound below $65,000, likely due to the US Federal Reserve's steady rates. Analysts suggest a potential US rate cut in September could significantly boost Bitcoin's price and increase ETF inflows.

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• Jul 31, 6:31 PM The Block

  FDUSD supply declines but maintains strong presence on Binance

  FDUSD's total supply has dropped from $4.42 billion to $1.9 billion, coinciding with Binance's end of zero-fee trading for BTC/FDUSD pairs. Despite this, FDUSD accounts for 33.55% of Binance's June spot trading volume. The decline highlights challenges in maintaining user engagement post-incentives and the need for long-term value propositions in the crypto ecosystem. Competing stablecoins like USDe are gaining ground, emphasizing the importance of utility beyond trading pairs.

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• Jul 31, 6:10 PM Crypto Briefing

  Fed maintains 23-year high interest rate, eyes September cuts

  The Federal Reserve kept its benchmark interest rate at 5.25% to 5.5%, citing continued economic expansion and moderating job gains. This decision impacts crypto markets, as lower rates historically favor risk assets like Bitcoin. The crypto market's reaction will be closely watched, especially given recent US Department of Justice actions involving $2 billion worth of Bitcoin. Macro factors, including global economic recovery and other central banks' decisions, will continue to influence both traditional and crypto markets. The relationship between inflation and crypto remains a topic of interest for investors.

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• Jul 31, 11:40 AM Cryptoslate

  Physical attacks on crypto holders raise security concerns

  Recent incidents of kidnappings and home invasions targeting crypto holders highlight the growing need for enhanced physical security in the crypto space. Cases in Thailand, Hong Kong, and the US involve violent crimes aimed at forcing victims to transfer crypto assets. Experts advise crypto holders to improve security practices, including using multi-signature wallets and limiting disclosure of holdings. The rise in physical threats emphasizes the importance of considering both digital and physical security measures for Bitcoin and crypto owners.

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• Jul 31, 10:01 AM The Block

  Grayscale launches Bitcoin Mini Trust on NYSE Arca after SEC approval

  Grayscale's Bitcoin mini trust began trading under the ticker "BTC" on NYSE Arca today. The SEC approved the product last week, aiming to offer low-cost Bitcoin exposure. This launch coincides with increased crypto attention due to potential Federal Reserve rate cuts and US dollar weakness discussions. The mini trust is a spin-off of GBTC, with shares distributed to existing GBTC shareholders.

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• Jul 31, 1:01 AM Cointelegraph

  Starknet-based ZKX protocol shuts down, ZKX token crashes 95%

  Starknet-based ZKX protocol, a social derivatives trading platform, has closed operations. Founder Eduard Jubany Tur cited minimal user engagement, decreased trading volumes, and insufficient revenue as reasons for the shutdown. The protocol delisted all markets, closed positions, and returned funds to users' trading accounts. This closure comes shortly after ZKX raised $7.6 million in funding. The protocol's native ZKX token has seen a significant price drop, reflecting broader DeFi sector challenges.

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• Jul 30, 6:00 PM Cryptoslate

  Goldman Sachs CEO acknowledges Bitcoin's potential as store of value

  Goldman Sachs CEO David Solomon stated Bitcoin could serve as a store of value like gold, despite viewing it as speculative. He praised blockchain technology's potential to digitize finance. Goldman Sachs plans three tokenization projects this year, showcasing its commitment to digital assets. The CEO's comments come amid debates on Bitcoin as a reserve asset, with figures like Michael Saylor and Senator Cynthia Lummis advocating for its role in addressing US national debt. Crypto has become a key political issue, with both major US parties showing increased support for the sector.

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• Jul 30, 5:09 PM The Block

  Circle's private stock valued at $5.25 billion on secondary market

  Circle's private stock is trading at $5-5.25 billion on the secondary market. The USDC issuer filed for an IPO in January, aiming to go public in 2024. Circle previously attempted to go public via SPAC at a $9 billion valuation. USDC holds 21% of the total stablecoin supply with a $33.6 billion market cap. The company allows limited trading of shares, likely by early investors and employees.

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• Jul 30, 4:08 PM Crypto Briefing

  SEC charges BitClout founder with fraud and securities violations

  The SEC has charged BitClout founder Nader Al-Naji with a fraudulent crypto scheme involving $257 million in unregistered token sales. Al-Naji allegedly misused $7 million of investor funds for personal expenses. The SEC claims he falsely portrayed BitClout as decentralized to avoid regulatory scrutiny. Al-Naji, known as "Diamondhands," faces both SEC charges and criminal charges from the US Attorney's Office. The case highlights ongoing regulatory efforts in the crypto space.

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• Jul 29, 4:57 PM Crypto Briefing

  US government transfers $2 billion in Bitcoin seized from Silk Road

  The US government moved 29,800 Bitcoin worth over $2 billion from its wallet containing seized Silk Road funds to unknown addresses. This transfer caused a 1.2% dip in Bitcoin's price, which now sits at $66,890.12. The government's wallet still holds over $12 billion in Bitcoin. This follows a recent sale of Bitcoin by German authorities that impacted the market. The reason for this latest transfer remains unclear, leaving investors uncertain about potential sales or fund reallocation.

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• Jul 29, 2:17 PM Coindesk

  Polymarket whales favor Trump as election betting surges past $400M

  Polymarket betting on the 2024 US presidential election has surpassed $400M, with whales favoring Trump despite Harris' gains. Traders are skeptical about China unbanning Bitcoin in 2024, giving it only a 13% chance. Coinbase's Q2 trading volume is expected to halve, with bettors forecasting $164.8B, down from $312B last quarter. The crypto community views Harris as potentially unfavorable for the digital asset industry, while Democrats seek ways to align with crypto.

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• Jul 29, 2:00 PM Crypto Briefing

  21Shares partners with Chainlink to boost Ethereum ETF transparency

  21Shares US LLC is integrating Chainlink's Proof of Reserve system to enhance transparency for its Core Ethereum ETF (CETH). This allows real-time tracking of ETH reserves, ensuring accurate performance tracking. The move follows 21Shares' spot Ethereum ETF launch and previous integration for their Bitcoin ETF. The partnership aims to build investor trust and bridge traditional and decentralized finance. CETH has attracted $7.5 million in net inflows since trading began last week.

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• Jul 28, 9:33 PM Cointelegraph

  Compound Finance proposals spark governance attack allegations

  Compound Finance faces community discord over recent governance proposals. The Golden Boys voting bloc passed proposal 289, requesting 499,000 COMP (about $24.1 million) for their goldCOMP treasury. Critics allege this is a governance attack, citing concerns over fund control and voting rights delegation. Proposal 290 aims to transfer the Timelock Admin as a precautionary measure. The situation highlights the challenges of decentralized governance in crypto protocols.

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