In a first for US politics, the upcoming election is seeing politicians from both sides of the aisle taking a stand on cryptocurrency and blockchain issues. The move is believed to be strategic, as crypto owners now make up 15-20% of the American public. The rehiring of Carole House, author of President Joe Biden's executive order to establish a regulatory framework for cryptocurrencies in the U.S., is seen as a sign of this shift. The typical crypto investor in the U.S. is a young, politically centrist male, often Latino or African-American, who is likely to own stocks too, making them a highly sought after "swing voter".

In 2023, decentralized autonomous organizations (DAOs) Nouns and Aragon faced hostile takeovers by so-called "DAO raiders" who exploited arbitrage opportunities in governance. These raiders bought up tokens below their book value, gaining control and proposing changes that led to the extraction of $27 million from Nouns and leadership changes at Aragon. The incidents highlighted the challenges of governance in DAOs and the potential for exploitation by self-interested parties. Today, both Nouns and Aragon continue to operate, albeit with changes and lessons learned. Experts suggest DAOs can protect themselves by professionalizing their tokenomics and governance, avoiding risk-free value in the treasury, and mapping voting groups.

Crypto wallet firm Tangem has announced a partnership with Visa to launch a new hardware wallet integrated with Visa payment cards. The product, expected to launch by year-end, will introduce Tangem Pay, a payment technology that allows users to spend crypto directly from their self-custodial wallet. The technology received certification from Visa in February 2022. Tangem Pay will be available to any self-custodial wallet, not just Tangem's, and the firm plans to develop a platform that will allow any wallet to issue cards under their own brand.

Matter Labs, the developer behind Ethereum layer 2 network zkSync, has refuted claims of "insider minting" of its Libertas Omnibus non-fungible tokens (NFTs). The allegations, made by blockchain researcher soEasy, suggested that the team had unfairly distributed NFTs to friends who were ineligible. Matter Labs responded by stating that all minters met the official criteria and that there were no invalid mints. The company also clarified that holding the Libertas Omnibus NFT did not automatically qualify a user for the ZK airdrop. The controversy continues to unfold as the blockchain community awaits further clarification.

Crypto whizz Justin Sun has made a bold move, offering to buy the German government's Bitcoin stash, valued at a whopping $2.3 billion. Sun, who founded Tron, announced his offer to his 3.5 million followers, stating he's willing to negotiate an off-market purchase to prevent any negative impact on Bitcoin's price. This comes after the German government's wallet, holding nearly 50,000 BTC, raised eyebrows with a transfer of 6,500 BTC in June. The funds are thought to have been seized from Movie2k, a pirate movie website. Stay tuned for more updates on this developing story.

Nigeria's Securities and Exchange Commission (SEC) has introduced a new regulation for Virtual Assets Service Providers (VASPs). To qualify for the Accelerated Regulatory Incubation Programme (ARIP), VASPs must establish an office in Nigeria, and the CEO or Managing Director must reside locally. The ARIP is designed to fast-track the onboarding process for entities seeking SEC registration. Noncompliance with ARIP requirements could result in penalties starting at 5 million naira ($3,194) and increasing daily. Unregistered commercial VASPs face penalties of at least 20 million naira ($12,776).

Telegram is launching the Telegram Gaming Accelerator in collaboration with Helika Gaming, capitalizing on the recent popularity of mini-apps and blockchain technology. The initiative aims to enhance the gaming experience on the messaging platform and follows the success of games like Hamster Kombat, which attracted 200 million players. The accelerator program, backed by $50 million in funding from Helika Accelerate, is designed to support game studios, app developers, and indie creators. The partnership seeks to combine Telegram’s platform with the Ton blockchain to create an engaging gaming experience. Applications for the program open next week.

Bitcoin is on a downward spiral, expected to plunge below $57,000 from over $60,000, according to 10x Research. The slump, which could potentially drop further to $50,000, is attributed to drying up buy flows and accelerating sell flows. The 5.44% fall in Bitcoin's price has significantly impacted investor sentiment and market liquidity. The sell-off coincides with the anticipated Mt. Gox repayments of $8.5 billion worth of BTC. The report advises traders to prioritize risk management in anticipation of continued volatility. The downward trend is also linked to long-term holders cashing in on substantial profits.

The German government has been busy moving Bitcoin (BTC) around, with more than 3,000 BTC (over $172 million) transferred to three crypto exchanges and another wallet. On July 4, blockchain sleuths PeckShield noted a hefty 1,300 BTC transfer from a wallet labeled "German Government (BKA)". This $75 million worth of Bitcoin was divided between Coinbase, Kraken, and Bitstamp. Further investigation revealed another 1,700 BTC was moved to a different wallet. This activity, along with similar moves from the US government and looming Mt. Gox repayments, could increase selling pressure on Bitcoin.

Nintendo has decided to avoid using generative AI in game development due to concerns over potential intellectual property breaches. The company's president, Shuntaro Furukawa, acknowledged the creative potential of AI but stressed that it alone cannot deliver the value that gamers seek. Meanwhile, Bitcoin developers are looking to preserve classic video games on the blockchain. A group has inscribed an emulator for the Nintendo 64 console on the Bitcoin network, aiming to spark conversation around legally preserving endangered games onchain.

Bitcoin (BTC) took a 2% hit on July 4, dropping to a new local low of $57,885. This is the first retest of a key support line since October 2023. The dip is attributed to a lack of sentiment and steady selling from spot markets. The 200-day moving average (MA) was crossed for the first time in ten months, indicating a potential trend reversal. If the MA fails to act as a systematic trigger, volatility and momentum could increase to the downside. Analysts are eyeing a large patch of long liquidations closer to $50,000 if the price breaks down further. The recent downside is influenced by significant sell-side pressure throughout the year, with net flows equivalent to $24B being dumped on the market in 2024.

In a recent crypto Ponzi case, an Illinois district court judge has agreed with the Commodity Futures Trading Commission (CFTC) that two lesser-known altcoins, Olympus (OHM) and KlimaDAO (KLIMA), are commodities. The case involved Oregon resident Sam Ikkurty, who defrauded victims by promising 15% annual returns from investments in "digital asset commodities". Instead of returning profits, Ikkurty ran a Ponzi scheme, causing a $20 million shortfall for investors. The court ordered Ikkurty to pay over $120 million in restitution and disgorgement. KLIMA is currently trading at $3.55, down 99.9% from its 2021 peak.

Opera Mini is enhancing its cryptocurrency wallet, MiniPay, by integrating major stablecoins Tether USDT and Circle’s USDC. The browser's new feature, Pockets, will allow users to effortlessly swap between USDC, USDT, and the Celo dollar (cUSD) with minimal fees. Since its launch in 2023, MiniPay has seen over three million wallet activations across Nigeria, Ghana, Kenya, and South Africa, making it one of the fastest-growing digital wallets in Africa. The company also launched a Discover Page for decentralized applications integrated within the wallet, providing users with direct access to various tools.

Bitcoin Core developers have introduced a "critical bug" disclosure policy to improve communication about Bitcoin security vulnerabilities. The team acknowledged that the perception of Bitcoin Core being bug-free is inaccurate and potentially harmful. The new policy will categorize vulnerabilities into four levels of severity: low, medium, high, and critical. The disclosure of low, medium, and high bugs will occur two weeks after a fixed version is released, while critical bugs will be handled case-by-case. The policy will be gradually implemented in the coming months.

Bitcoin's price took a tumble on July 4, dipping below $58,000 for the first time in two months. Currently trading at $58,964, it's down 3.4% on the week. This dip has seen over $64.2 million in Bitcoin long positions liquidated in the last 24 hours. It's not just Bitcoin feeling the heat; other major cryptocurrencies are also seeing significant price drops. Ether is down 4.5% on the day, Binance Coin is down 6%, and Solana has dropped 10.3% in the last 24 hours. Stay tuned for further updates as this story develops.

As Bitcoin (BTC) dipped below $60,000 for the second time in four months, mentions of "buy the dip" on social platforms like Reddit and Bitcoin Talk doubled, according to crypto research firm Santiment. Bitcoin is currently trading at $58,900, its lowest since May 3. Some of the negative sentiment is attributed to Mt. Gox preparing to offload $9 billion worth of Bitcoin to its creditors this month. Meanwhile, Research Manager at GCM Investment, Kudret Ayyldr, warns that Bitcoin's failure to hold above $67,500 since April could prompt a correction to the $48-50K bottom area.

The team behind the crowdfunding campaign to put the mascot of Solana memecoin Dogwifhat (WIF) on the Las Vegas Sphere remain optimistic despite delays. The campaign raised nearly $700,000 in March for this purpose. Mihir, one of the organizers, stated that the Sphere had developed new crypto-specific terms in response to the campaign, and they were still working to meet these requirements. He assured that if the deal falls through, all funds would be returned to the donors. Despite a 62% fall from its all-time high, WIF currently stands as the 54th largest cryptocurrency by market capitalization.

Bitcoin mining company Riot Platforms had a "historic month" in June, boosting its hash rate by 50% and mining 255 Bitcoin (BTC), a near 20% increase from May. The firm's hash rate rose from 14.7 exahashes per second (EH/s) to 22 EH/s, surpassing its mid-year target of 21.4 EH/s. This makes Riot the second largest Bitcoin miner by hash rate, trailing only Marathon Digital. The firm held all Bitcoin mined in June, bringing its total stash to 9,334 BTC, worth around $561.6 million. Riot is on track to increase its self-mining hash rate capacity to 31.5 EH/s by 2024's end, aiming for 100 EH/s by 2027.

Digital asset legislation is gaining momentum in the US, with over 30 bills impacting cryptocurrencies enacted at state level this year, more than double the number passed in 2023. New Hampshire is expanding its regulatory framework to include digital asset activity, while Maine has updated its MTL regulations to include digital assets. Massachusetts is also advancing crypto legislation, with a bill aiming to modernize how fiduciaries manage digital assets. Rhode Island has incorporated minimum capital requirements and limits on investments for crypto exchanges, and Louisiana has encouraged Bitcoin mining and prohibited CBDCs. This surge in legislative activity indicates that policymakers are responding to constituents' interest in digital assets.

Bitcoin's price is currently 20% below its all-time high, reflecting market apathy. However, onchain metrics suggest a larger move is imminent, according to a Glassnode report. Despite recent price drops, the Market Value Realized Value (MVRV) metric shows many Bitcoin investors are still in profit. The report also notes that Bitcoin's accumulation between $60,000 and $70,000 since March has led to market indecision. Glassnode suggests $50,000 is a crucial price level for Bitcoin to maintain if the macro bull market is to continue. Meanwhile, a 10X Research report warns that if Bitcoin fails to stay above $60,000, it could rapidly descend to lower support levels, potentially reaching $50,000.