AI-related crypto tokens have seen a surge in the past week, despite a significant drop in Nvidia stocks. Nvidia, a key player in the AI market, saw its stocks fall by 11.08% over the past five trading days. Meanwhile, AI crypto tokens Fetch.AI and SingularityNET have risen by 23.46% and 20.83% respectively, contrasting with a decline in the broader crypto market. This comes amid concerns over Nvidia's president and other executives selling off a large number of shares. Despite this, AI tokens such as Worldcoin and Arkham have increased in value, up 9.07% and 16.34% respectively over the past week.

Mt. Gox, the defunct Japanese crypto exchange, is set to repay $8.5 billion worth of Bitcoin (BTC) to creditors starting July. However, analysts believe this may not significantly impact Bitcoin's price. Tony Sycamore of IG Markets suggests that half of the total Bitcoin, approximately $4.5 billion, could hit the market. He also believes that the potential sell pressure from Mt. Gox has already been factored into the current market conditions. Alex Thorn of Galaxy Digital estimates that only 65,000 of the 141,000 total Bitcoin will actually hit the market, reducing the expected selling activity.

The Crypto Fear and Greed Index, a barometer for Bitcoin and wider crypto market sentiment, has plunged to its lowest level in 18 months. The index dropped 21 points on June 24, landing in the "Fear" zone, a score between 24 and 50. The last time it was this low was on January 11, 2023, when Bitcoin was trading at $17,200. This comes amid over $1 billion in outflows from Bitcoin ETFs in the past 10 trading days and news of potential large-scale Bitcoin sales by Mt. Gox and Germany. Bitcoin is currently trading at $60,300, a seven-week low.

Big news for Wikileaks founder Julian Assange! After striking a plea deal with U.S. authorities, Assange is set to walk free from British prison. He'll plead guilty to one count of conspiracy to obtain and disclose national defence information. In return, his sentence will equal the 62 months he's already spent behind bars in London's Belmarsh Prison. Once free, the Australian national can return to his home country. Stay tuned for more updates on this developing story!

Iranian officials, including the deputy chief of the Iranian military, Habibollah Sayyari, have criticized the popular play-to-earn blockchain game "Hamster Kombat". They claim the game is a distraction from the country's upcoming elections and a tool of Western soft power. Despite this, blockchain gaming is providing a financial lifeline for many Iranians amid economic hardship caused by Western sanctions and inflation. For example, players of the NFT game Axie Infinity have reported earning up to $1,300 per month. However, blockchain gaming is still far from mainstream, with a recent survey revealing that 52% of respondents were unaware of its existence.

The idea of a "privacy-minded" central bank digital currency (CBDC) is being proposed, but experts warn it's likely too good to be true. The US government's track record of undermining financial privacy rights raises concerns about its ability to establish a CBDC bill of rights. History shows that even well-intentioned designs can quickly morph into something different, often leading to increased surveillance. Ethereum co-founder Vitalik Buterin echoes these concerns, noting that CBDC systems often end up being less private and breaking down existing barriers against corporations and governments. Central bankers have repeatedly stated that complete privacy would not be an option with a CBDC.

Bitcoin's inability to break through higher resistance levels could lead to a "double-top price pattern" and a potential drop to $50,000, warns Markus Thielen, founder of 10x Research. This pattern forms when the price hits two similar peaks with a slight dip in between, and typically resolves when the price breaks below the "neckline". Thielen also notes that despite potential positive impacts from the U.S. elections and the Consumer Price Index later this year, Bitcoin could still face a "steeper correction". Other crypto traders speculate that Bitcoin's price action is still playing out similarly to the 2016 halving cycle, suggesting potential for further upward movement in the short term.

Kanav Kariya, president of Jump Crypto, is stepping down amid reports of a Commodity Futures Trading Commission (CFTC) investigation. Jump Crypto has faced several challenges this year, including a hack in February where 120,000 wrapped Ethereum tokens were fraudulently minted, costing the firm $321 million. In May, Jump Crypto was implicated in a lawsuit alleging price manipulation of Terra's UST stablecoin, from which the firm allegedly profited $1.3 billion. The scope of the CFTC investigation remains unclear but may involve these incidents. Kariya's departure is not an admission of guilt or wrongdoing.

Bitcoin's value has dipped to a seven-week low, with a 5.8% drop between June 23 and June 24. This slump forced the liquidation of $153 million in leveraged long BTC futures and ended a five-week bullish trend. Traders are now questioning if this is a sign of a longer bear market or a temporary panic. Concerns have been raised following the announcement of the imminent Bitcoin repayment by the failed exchange Mt. Gox bankruptcy estate. Additionally, a recent transfer of nearly 6,500 BTC from a wallet linked to the German government has sparked speculation of a potential selloff. Despite these uncertainties, some believe the $60,000 support could hold.

SEC's case on Ether's status as a security seems to be losing steam, with Consensys lawyer Laura Brookover stating that the SEC's approval of Ether ETFs implies Ether is a commodity, not a security. However, the SEC has not confirmed this.

Meanwhile, Iran's Central Bank has launched a pilot for a national digital currency aimed at domestic micropayments. The digital rial will be available to bank customers and tourists on the island of Kish.

Cryptocurrency exchange Uphold will delist six popular stablecoins from its European market from July 1, in line with the EU's Markets in Crypto-Assets Regulation (MiCA).

Lastly, Italy is set to increase surveillance of the crypto markets to curb insider trading and market manipulation, in compliance with the MiCA regulatory framework. Penalties for violations range from €5,000 to €5 million.

Louisiana has updated its legislation to ban the use of central bank digital currencies (CBDCs) and establish rules for miners and node operators. The revised law, known as the Blockchain Basics Act, will take effect in August 2024. It prohibits Louisiana from participating in CBDC tests or accepting payments using CBDCs. The law also imposes strict controls on foreign-owned digital asset mining companies, prohibiting them from holding any stake in Louisiana-based mining operations. Non-compliance could result in penalties of up to $1 million or 25% of the foreign party’s stake in the mining operation.

Cloud computing's market cap is set to hit $2.3 billion by 2032, but the sector is dominated by a few key players. Enter DePINs (Decentralized Physical Infrastructure) and DeRENs (Decentralized Resource Networks), which could minimize risks and enhance data security and transparency. A report by Cointelegraph Research and SwanChain highlights how these technologies could democratize the cloud computing market. The rise of AI models, expected to reach $1.4 trillion by 2029, is driving the growth of DePINs and DeRENs. SwanChain offers a decentralized cloud computing platform that provides resources for AI applications, smart contracts, and other decentralized services. The platform has processed almost 350,000 zero-knowledge computing tasks within two months of launch.

Bitcoin (BTC) has dipped below $60,000 for the first time in seven weeks, with analysts blaming "whale games" for the fall. The BTC price hit new lows of $59,809 on Bitstamp after the Wall Street open. The weakness, which began after the weekly close, continued through the Asia and Wall Street trading sessions, resulting in 5% losses on the day for BTC/USD. Trading resource Material Indicators warned that whales were shifting liquidity around to influence price momentum. The drop below $60,000 resulted in long liquidations topping $136.5 million in the 24 hours to writing.

The European Central Bank (ECB) has released its first progress report on the development of a central bank digital currency (CBDC). The report highlights privacy provisions, including pseudonymization, hashing functions, and encryption features to prevent tracking individuals by transaction. The ECB also outlined methods for conducting offline transactions directly between parties without a third-party intermediary. The report concluded with a timeline for the "Rulebook Development Group" to finalize the first draft of its technical and regulatory CBDC framework by the end of 2024. However, concerns about privacy issues and government overreach continue to grow within the crypto community.

Bitcoin's recent dip below its $64,500 support has caused a sharp drop in whale transactions, according to Santiment data. However, long-term investors are viewing this as a buying opportunity, with Tokyo-based Metaplanet planning to issue one billion yen ($6.26 million) worth of bonds to buy Bitcoin. Meanwhile, the S&P 500 Index is in an uptrend, the U.S. Dollar Index bounced off the 50-day SMA, and Bitcoin is expected to attract strong buying at the $60,000 support level. Other cryptocurrencies such as Ether, BNB, Solana, XRP, Toncoin, Dogecoin, and Cardano are also experiencing significant market movements.

Carole House, a key figure behind President Biden's executive order on digital assets, is returning to government work. She will serve as the White House National Security Council's special adviser for cybersecurity and critical infrastructure policy. House previously served as the Council's director of cybersecurity and secure digital innovation, where she helped draft the executive order to establish a regulatory framework for cryptocurrencies in the U.S. Her return to the White House does not appear to be directly related to any potential shift in President Biden's position on cryptocurrencies.

The European Central Bank (ECB) is broadening its distributed ledger technology (DLT) test, initiated in April, to include new use cases and more participants. The second phase will see 48 financial institutions, including divisions of major global banks such as HSBC, J.P. Morgan, and BNP Paribas, testing wholesale domestic payments within the euro area, securities-related use cases, and foreign exchange payment-versus-payment transactions among central banks. The results could have implications for central bank digital currency (CBDC) applications. The Bank of England, along with central banks from several other countries, will also participate in the project.

Bitcoin yield protocol SolvBTC is developing Liquid Yield Tokens to enable Bitcoin holders to earn income from DeFi. The project, which launched earlier this year, has already attracted $1.3 billion in total value locked from 292,000 users. SolvBTC will soon launch on the Ethereum mainnet, allowing users to tap into wrapped Bitcoin liquidity and generate yields directly on the Ethereum DeFi ecosystem. Meanwhile, other developers are working on increasing the underlying capacity of the Bitcoin blockchain to improve its DeFi performance.

The $7.5 billion token merger of fetch.ai (FET), AGIX, and Ocean Protocol (OCEAN) into the Artificial Superintelligence Alliance (ASI) has sparked debate over the future of AI and crypto. Critics warn of increasing centralization and monopolies in AI. Julian Peh, CEO of Web3 AI base layer Kip Protocol, argues for a decentralized AI infrastructure, where models, apps, and data sets are not owned by the same entities. He advocates for a platform where developers can share data and assemble components. Meanwhile, Humayun Sheikh, chairman of ASI, anticipates revenue generation as they launch the agentic network for deployment.

Bitcoin investment products have seen a significant outflow of $630 million over the past week, with a total outflow of approximately $1.1 billion in the last 14 days, according to CoinShares. This decline is largely due to institutions and long-term investors reducing their exposure to Bitcoin ETFs, given the reduced likelihood of interest cuts by the US Federal Reserve in 2024. Weekly trading volumes have also decreased, reaching $13.6 billion, the lowest since the launch of US Bitcoin ETFs in January. This trend is attributed to the German government's selling of BTC and market anticipation of Bitcoin repayment from the Mt. Gox trustee.