Crypto Industry Future: Insights From Marathon Digital's CEO on Trump and Biden

Marathon Digital’s CEO has shared his insights on the future of the crypto industry and the potential impact of the upcoming presidential election. The executive observed that the Biden administration has historically been hostile to bitcoin and crypto through its various agencies. However, he noted a recent shift in its stance, likely due to the recognition that there are 55 million voters in the country who are interested in cryptocurrency.
Fred Thiel Highlights Bitcoin’s Political Landscape Ahead of Election
The CEO of Marathon Digital Holdings (Nasdaq: MARA), Fred Thiel, shared his insights on bitcoin and the potential impact of the upcoming presidential election on the crypto industry in an interview with Yahoo Finance on Monday. Thiel also discussed which candidate, Donald Trump or Joe Biden, might be more favorable for the crypto industry’s future.
“Former president Trump has obviously positioned himself as the candidate that is pro bitcoin. He believes that all bitcoin should be mined in the U.S. and has been very open to his relationship with bitcoin miners and people in the space,” Thiel began, adding:
The Biden administration has been very hostile to bitcoin through its various agencies.
Thiel pointed to the U.S. Securities and Exchange Commission (SEC) and banking regulators, specifically mentioning Operation Chokepoint 2.0, named after a 2013 campaign by federal regulators to lock out high-risk businesses from the banking system.
However, he noted: “I’m sensing a thawing of the cold, if you would, from the Biden administration, as they realize there are 55 million voters in this country who care about crypto … That’s a pretty large voting bloc.”
The Marathon executive stressed that “nobody in this industry wants it to be partisan,” emphasizing:
We believe that bitcoin serves the needs of everybody. It doesn’t have any political color to it.
“We think both parties should embrace it, and in Congress, we’ve already seen the Democrats in both the Senate and House of Representatives embracing bitcoin and crypto legislation,” he continued. Both the Senate and the House passed a resolution to repeal the SEC’s Staff Accounting Bulletin No. 121 (SAB 121), however, it was later vetoed by Biden. The crypto industry has voiced several complaints about SEC’s Staff Accounting Bulletin No. 121 (SAB 121), citing increased operational complexity and compliance costs as primary concerns. “I think … what we’re going to have to see is more bipartisan work on this to get it work passed. But it really is a bipartisan thing. It’s not one party versus the other on this,” the Marathon CEO concluded.
Which candidate do you believe will be better for the crypto industry as the next U.S. President, Donald Trump or Joe Biden? Share your thoughts in the comments section below. #Write2Earn

Tencent Tests Use Cases for Trading Settlements Using Digital Yuan and Mbridge

Tencent, the Chinese tech giant, was revealed to be participating in the tests that the Chinese institutions have completed using Mbridge, a CBDC-enabled cross-borders settlement platform. Tencent participated through its international settlements arm Tenpay, which piloted the use case of the Chinese CBDC, the digital yuan, to settle e-commerce exports using Mbridge’s rails.
Tencent Participated in the CBDC-Enabled Mbridge Pilot Phase
Tencent, one of the largest Chinese tech conglomerates, has participated in the pilot test of Mbridge, the central bank digital currency (CBDC) based cross borders settlement system. On the Chinese side of these tests, Tencent has been testing the feasibility of using China’s CBDC, the digital yuan, to settle payments.
Before Mbridge’s minimum viable product (MVP) release, Tencent had participated via Tenpay Global, its cross-border payments arm, by clearing e-commerce exports using Mbridge rails and the digital yuan.
Mbridge has the participation of the Bank of Thailand, the Central Bank of the United Arab Emirates, the People’s Bank of China (PBOC), the Hong Kong Monetary Authority (HKMA), and the recent addition of the Saudi Central Bank. However, while other countries have the possibility of linking their real-time payment systems, China has already linked its CBDC to the decentralized network. This allows for payments to be settled using the digital yuan.
Tencent was also one of the first firms involved in the digital yuan pilot, signaling the firm interest in participating in these initiatives. Wechat, a messaging app owned by Tencent, also started supporting digital yuan payments in March 2023, opening the doors for over 1.2 billion users to settle retail payments using the digital yuan.
Furthermore, Tencent’s owned private bank Webank was one of the first private institutions onboarded to the pilot, after the Chinese state banks.
While the Bank of International Settlements (BIS) is involved in the Mbridge project, the decentralized traits of the system have worried observers from Western states. These have foreseen its use to avoid possible economic sanctions exerted through traditional settlement rails like SWIFT.
What do you think about Tencent’s participation in the Mbridge project? Tell us in the comments section below. #Write2Earn

Ongoing Withdrawals Challenge US Bitcoin ETFs, Nearly $175M Exited Monday

At the start of the week, U.S. spot bitcoin exchange-traded funds experienced their seventh consecutive day of net outflows, losing $174.45 million during Monday’s trading session. Grayscale’s Bitcoin Trust (GBTC) was impacted most, seeing approximately $90 million in outflows.
GBTC Leads Outflow as Bitcoin ETFs See Continued Decline
On Monday, another day of outflows hit the 11 spot bitcoin exchange-traded funds (ETFs) as seven different funds saw losses. GBTC was the leader in terms of losses, losing $90 million in outflows, while it was followed by Fidelity’s FBTC which lost $35 million. Franklin Templeton’s EZBC was the third biggest outflow on Monday as it saw a $21 million reduction.
Vaneck’s HODL saw a $10 million divestment while Bitwise’s BITB shed $8 million. Ark Invest’s and 21shares’ fund ARKB shed $7 million on Monday. Lastly, Invesco’s and Galaxy’s fund BTCO lost around $2 million. Blackrock’s IBIT saw a neutral day as did BRRR, BTCW, and DEFI. The day’s reduction brings the cumulative total net inflows from all 11 funds to $14.39 billion.
Currently, the 11 ETFs hold $51.53 billion in BTC reserves. As U.S. spot bitcoin ETFs navigate a persistent phase of withdrawals, the shifting tides of investor sentiment underscore a cautious approach amidst fluctuating market conditions. Despite these recent setbacks, the substantial reserves maintained by these funds highlight a strong foundational confidence in bitcoin’s long-term value.
What do you think about Monday’s outflows? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Wikileaks Founder Julian Assange Freed From Prison — Set to Plead Guilty in US Deal

Wikileaks founder Julian Assange has been released from prison after serving five years, following a plea agreement with the U.S. Department of Justice (DOJ). “This is the result of a global campaign that spanned grass-roots organizers, press freedom campaigners, legislators and leaders from across the political spectrum, all the way to the United Nations,” Wikileaks detailed, adding that Assange left Belmarsh maximum security prison on June 24.
‘Julian Assange Is Free,’ Wikileaks Announced
Julian Assange, founder of Wikileaks, has been released from prison after serving five years. His release comes as a result of a plea agreement with the U.S. Department of Justice (DOJ), marking a significant development in a case that has drawn international attention for over a decade. Wikileaks shared on social media platform X on Monday:
Julian Assange is free.
“He left Belmarsh maximum security prison on the morning of 24 June, after having spent 1901 days there. He was granted bail by the High Court in London and was released at Stansted airport during the afternoon, where he boarded a plane and departed the UK,” Wikileaks detailed.
“This is the result of a global campaign that spanned grass-roots organizers, press freedom campaigners, legislators and leaders from across the political spectrum, all the way to the United Nations. This created the space for a long period of negotiations with the U.S. Department of Justice, leading to a deal that has not yet been formally finalized,” Wikileaks added.
According to court papers filed late Monday, Assange will plead guilty to a felony charge in a deal with the U.S. Justice Department, concluding a prolonged legal saga. Assange is scheduled to appear in federal court in the Mariana Islands on Wednesday to plead guilty to an Espionage Act charge for conspiring to unlawfully obtain and disseminate classified national defense information.
This guilty plea, pending judicial approval, concludes the U.S. government’s extensive pursuit of Assange. Prosecutors have agreed to a sentence equivalent to the five years the Wikileaks founder has already spent in a high-security British prison while resisting extradition to the U.S. to face charges. The hearing is being held in the Mariana Islands due to Assange’s opposition to traveling to the continental U.S. and the court’s proximity to Australia.
What do you think about Wikileaks founder Julian Assange being released after agreeing to plead guilty in a U.S. deal? Let us know in the comments section below. #Write2Earn

FBI Warns of Fake Firms Promising to Recover Lost Cryptocurrencies

The Federal Bureau of Investigation (FBI) has alerted the public to “an emerging criminal tactic” targeting investors who have already fallen victim to cryptocurrency scams and seek to recover their lost funds. These fraudsters often claim to be authorized by the FBI, Consumer Financial Protection Bureau (CFPB), or other government agencies to lend credibility to their schemes.
‘Law Enforcement Does Not Charge Victims a Fee for Investigating Crimes’
The Federal Bureau of Investigation (FBI) issued an alert on Monday about “an emerging criminal tactic used to further defraud cryptocurrency scam victims.” According to the FBI, fraudsters are impersonating lawyers from fake law firms, reaching out to cryptocurrency scam victims through social media and messaging platforms. They offer services to investigate and recover lost funds, aiming to deceive victims into providing more money or personal information.
The alert details that these fraudsters claim that they are authorized by the FBI, Consumer Financial Protection Bureau (CFPB), or other government agencies to validate their contact. Some victims initiate contact with these fraudsters through fake websites designed to look legitimate, seeking assistance to recover their lost funds, the FBI detailed, noting:
Between February 2023 and February 2024, cryptocurrency scam victims who were further exploited by fictitious law firms reported losses totaling over $9.9 million, according to the FBI Internet Crime Complaint Center (IC3).
To further their recovery scams, fake lawyers may request victims verify their identities by providing personal or banking information, or ask for the judgment amount they seek from the initial fraudster. They often demand upfront payment of fees with the balance due upon fund recovery, and instruct victims to pay for back taxes and other fees to retrieve their funds. To build credibility, these fraudsters reference actual financial institutions and money exchanges, making their schemes appear legitimate.
The FBI’s alert provides several tips for investors to safeguard themselves from this type of cryptocurrency scam. First, the bureau advises investors to be cautious of advertisements for cryptocurrency recovery services. It recommends thoroughly researching the company, being wary of those using vague language, having a minimal online presence, or making unrealistic promises about recovering lost funds.
“Law enforcement does not charge victims a fee for investigating crimes,” the FBI stressed, adding:
If an unknown individual contacts you and claims to be able to recover stolen cryptocurrency, do not release any financial or personal identifying information and do not send money … If someone claims an affiliation with the FBI, contact your local FBI field office to confirm.
Have you personally come across this type of crypto scam? Let us know in the comments section below. #Write2Earn

Kaiko Research: Latam Crypto Traders Prefer Stablecoins Over Bitcoin

Kaiko, a leading cryptocurrency market data analytics firm, has found that cryptocurrency users in Latin America prefer stablecoins over bitcoin. In its most recent Latam market report, issued in June, Kaiko determined that 40% of the trading volumes involved Tether’s USDT. This preference exists even though Bitcoin’s proposition includes protection against the currency debasement processes common to some countries in the region.
Kaiko: Latam Cryptocurrency Trading Is Dominated by Stablecoins
Kaiko, one of the largest cryptocurrency market research and analytics firms, has discovered the preference of Latam crypto markets for stablecoins. The firm recently released its most recent Latam market report, which scrutinizes the behavior of Latam markets taking its trading tendencies into account.
The report analyzed data from seven cryptocurrency exchanges offering trading pairs including currencies from Latam countries: Kucoin, Binance, Mercado Bitcoin, Bitso, Htx, Okx, and Bitfinex.
Kaiko found that the region prefers stablecoins over bitcoin, a trend they mentioned surged in 2021. The report declares that 40% of the region’s trades include USDT, the largest stablecoin in the cryptocurrency market. In the same way, nearly half of trades involving the Brazilian real also include stablecoins, which Kaiko explains is due to the instability of the Brazilian currency and inflation in the region.
The popularity of dollar-pegged stablecoins in the region is particular to Kaiko, given that the narrative around bitcoin includes a currency debasing protection and inflation hedging use case that has still to penetrate Latam audiences. On three of the seven exchanges in the report, stablecoins were the most traded instruments. Bitcoin volumes surpass stablecoins only on Mercado Bitcoin, an exchange that handles almost 10% of the region’s volumes.
Binance, which trades almost 50% of the cryptocurrency in the region, also presents a high preference for stablecoins. In addition, stablecoin-to-fiat trading pairs accounted for 63% of the top ten trade volume. Kaiko states this drive for stablecoins has talked central banks into considering central bank digital currencies (CBDC) as an alternative, but it “remains uncertain if they can compete effectively.”

What do you think about Kaiko’s Latam cryptocurrency market report? Tell us in the comments section below. #Write2Earn

Metaplanet Directors Approve BTC Acquisition Plan; Company’s Stock up by Nearly 500% YTD

The directors of Tokyo-based investment and consulting firm Metaplanet Inc. have approved the company’s proposal to purchase Bitcoin worth $6.25 million using bond proceeds. Metaplanet clarified that the acquired cryptocurrency will be recorded at its acquisition cost for long-term holdings. The company’s stock has surged by almost 500% since the beginning of the year.
Valuation of Long-Term Bitcoin Holdings
The directors of the publicly listed Japanese company, Metaplanet, have authorized a plan to purchase bitcoins worth approximately $6.25 million (one billion yen). The purchase will be funded through capital raised from issuing the second series of ordinary bonds.
In a statement shared via X, Metaplanet clarified that the acquired cryptocurrency will be recorded at its acquisition cost for those intended for long-term holdings. These holdings are exempt from market value taxation assessments. The remaining bitcoin (BTC) holdings will be evaluated at their current market value every quarter.
Any resulting gains or losses will be included under non-operating income or expenses in Metaplanet’s income statement, the company said.
“While our basic policy is to hold Bitcoin for the long term, if we use Bitcoin for operations or other purposes, the corresponding Bitcoin balance will be recorded as current assets on the balance sheet,” the listed company added.
Metaplanet Stock Surges by Nearly 500% in 2024
Metaplanet’s approval to purchase BTC with bond proceeds comes more than two months after it first disclosed the plan. As reported by Bitcoin.com News, the plan to add BTC to Metaplanet’s treasury has received backing from partners and investors such as Sora Ventures, UTXO Management, and Morgan Creek Capital’s Mark Yusko.

Following the initial announcement, Metaplanet’s stock price surged by 90%. After the directors confirmed the purchase plan, it increased by almost 10%. Since the beginning of the year, the stock has risen by nearly 500%, with most of the gains realized after Metaplanet’s pivot to BTC in April.
What do you think of Metaplanet’s pivot to bitcoin? Share your opinions in the comments section below. #Write2Earn

Robert Kiyosaki on Bitcoin Crash: Most People Should Sell — He's Waiting to Buy More, Follow Warren Buffett's Strategy

Rich Dad Poor Dad author Robert Kiyosaki says most people should sell bitcoin now that the price of the cryptocurrency is “crashing.” However, he affirmed that he is waiting to buy more bitcoin, emphasizing that “all markets go up and down.” The famous author noted that his strategy is similar to Berkshire Hathaway CEO Warren Buffett’s, which he described as “buy and hold on forever.”
Robert Kiyosaki Reveals Strategy for Bitcoin Crash
The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his plans in response to the recent decline in bitcoin’s price. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Kiyosaki wrote on social media platform X on Monday:
Bitcoin is crashing. Most people should sell. I am waiting to buy more.
“All markets go up and down … Many people make a lot of money ‘trading’ markets,” the renowned author stressed. However, he pointed out: “The problem with ‘trading’ any asset is taxes, specifically ‘short term’ capital gains taxes.”
On Monday morning, the price of bitcoin experienced a notable decline following the news that Mt. Gox is set to start distributing $9 billion in BTC to creditors in July after a decade-long wait. This development also followed the news that the German government had commenced the sale of a substantial amount of seized bitcoins.
Kiyosaki has long been recommending bitcoin alongside gold and silver. He recently stated that the cryptocurrency is the easiest way to become a millionaire, predicting that BTC will hit $350K in August. He has repeatedly urged investors to ditch the U.S. dollar for bitcoin.
The famous author emphasized on Monday:
My strategy is similar to Warren Buffett’s ‘buy and hold on forever.’
“What am I doing if not trading assets? I spend my time building new assets, which is why I am a ‘serial entrepreneur.’ Currently, I am working on two new ‘start-ups,'” Kiyosaki shared. He then advised: “If crashes terrify you, sell and hang on tight to your job, which is what most ’employees’ should do. Simply said, entrepreneurs and employees are opposite sides of the same coin. Take care. Rough times ahead. Do what is best for you.”
What do you think of Rich Dad Poor Dad author Robert Kiyosaki saying that most people should sell bitcoin as the price crashes but his own strategy is to “buy and hold on forever”? Let us know in the comments section below. #Write2Earn

Heavy Sell-Off Sees Bitcoin Drop Below $60K, Over $140M in BTC Longs Liquidated

Bitcoin’s price fell beneath the $60,000 mark on Monday, declining over 6% against the U.S. dollar. At 1:30 p.m. EDT on June 24, the currency’s price hit an intraday low of $59,809 per coin.
Bitcoin Struggles Against Bearish Market, Slides to Near $60K Level
This Monday proved tumultuous for bitcoin (BTC), as its price dipped below the $60,000 level for the first time since May. Just 30 minutes after 1 p.m., bitcoin’s value reached a low of $59,809 per unit. The markets have displayed strong bearish trends, and over the last week, BTC has shed 8.2% of its value. Despite the significant downturns, trade volume has remained modest amid heavy selling pressure.

Speaking to Bitcoin.com News, Neil Roarty, an analyst at the investment platform Stocklytics, discussed the challenging day for bitcoin. “Bitcoin is experiencing a serious case of the Monday blues, with prices slipping below $62,000 – the lowest mark for almost six weeks,” Roarty remarked. “Some bears are arguing this is a fundamental shift in both market and mood. They’ll point to how bitcoin no longer appears to be tracking with the Nasdaq, which soared to record highs last week,” he added.
Roarty also touched on the issue of miner capitulation and the German government’s disposal of confiscated BTC. “If the negative sentiment prevails, how far could we slide? Nothing’s off the table, but bears have already highlighted the symbolic $50,000 mark as a near-term possibility,” the market strategist said. “The bulls will have to console themselves with the knowledge that, as always in crypto, fortunes can reverse extremely quickly.”
Additionally, data from coinglass.com reveals that $286.33 million in crypto longs were liquidated over the last day, including $140.36 million in BTC long positions. Over the same period, 85,865 crypto derivatives traders were liquidated, leading to a combined total of $326.26 million in both long and short position wipeouts. The most significant single liquidation order occurred on Binance, involving a BATCH/USDT position worth $15.36 million. At press time at 2:00 p.m. EDT on Monday, BTC is changing hands for $60,196 per coin.
What do you think about the current state of bitcoin markets? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Summer Consolidation to Precede US Election ‘Fireworks’ in Crypto Markets, Says QCP Capital 

Despite several bullish indicators, including a significant bitcoin purchase by Microstrategy and optimistic projections by notable figures, bitcoin’s price action remains subdued. Market analysts at QCP Capital shed light on the underlying factors contributing to this paradox.
Bullish Signs Clashing With Market Realities
In its market commentary, QCP Capital mentioned how Microstrategy expanded its BTC holdings by acquiring 11,931 bitcoins, indicating a strong vote of confidence in the crypto asset’s future. The analysts further mentioned that the purchase coincided with positive sentiments from influential voices like Arthur Hayes and Michael Dell, fueling a bullish outlook.
However, any expected uptick in BTC’s value has yet to materialize, with prices dipping below the $64,000 range. Amidst these optimistic acquisitions, the actual price movement of bitcoin has puzzled many investors. QCP says the anomaly can largely be attributed to increased selling pressure from miners grappling with higher breakeven costs post the recent halving event.
“[The] market has also been spooked by the emergence of a new large pool of supply. The German government [has] allegedly sold around [3,000] BTC in the last few days with [47,000] more to go,” the analysts stated.
Looking ahead, QCP’s market strategists predict a volatile market in the short term with potential stabilization and significant bullish trends closer to the year’s end. The firm noted a pattern in trading behaviors, with a decrease in short-term call options and a sharp increase in calls from September to December. This strategy suggests a conservative short-term outlook but an aggressive stance as the year progresses, likely influenced by the upcoming U.S. elections.
“[Volatilities] are pricing a summer consolidation and fireworks into the U.S. elections,” the analysts concluded.
What do you think about the market commentary concerning crypto markets? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Robert Kennedy Jr Promises to Pardon Ross Ulbricht if Elected President — Says He's Been in Prison 'Far Too Long'

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised to pardon Ross Ulbricht if elected. Like former U.S. President Donald Trump, Kennedy advocates for Ulbricht’s release. Both candidates vow to stop President Joe Biden’s anti-crypto policies and oppose the creation of central bank digital currencies (CBDCs).
RFK Jr. Advocates for Ross Ulbricht’s Pardon
Robert F. Kennedy Jr. (RFK Jr.), a candidate for President of the United States, expressed strong support for Ross Ulbricht on social media platform X on Thursday. RFK Jr. is a son of U.S. Attorney General and Senator Robert F. Kennedy, and nephew of U.S. President John F. Kennedy and Senator Ted Kennedy.
Kennedy argued that the punishment for Ulbricht, who is serving two life sentences for creating the e-commerce platform Silk Road, is excessively harsh. He stated that if elected President, he will pardon Ulbricht. Additionally, the presidential hopeful announced his intention to sign a petition asking for Ulbricht’s release and urged others to join the effort.

Recently, former U.S. President and presidential candidate Donald Trump also promised to free Ulbricht. “If you vote for me, on day one, I will commute the sentence of Ross Ulbricht to a sentence of time served. He’s already served 11 years. We’re going to get him home,” Trump said at the Libertarian National Convention in Washington D.C. in May. Ulbricht responded on X: “Last night, Donald Trump pledged to commute my sentence on day 1, if reelected. Thank you. Thank you. Thank you. After 11 years in prison, it is hard to express how I feel at this moment. It is thanks to your undying support that I may get a second chance.”
Both Kennedy Jr. and Trump have declared their intentions to protect bitcoin from President Joe Biden’s anti-crypto policies. RFK Jr. views BTC as a hedge against inflation and a crucial tool for ensuring transactional freedom.
Another area the two presidential candidates agree on is the issuance of central bank digital currencies (CBDCs). “We should be wary since CBDCs are the ultimate mechanisms for social surveillance and control,” RFK Jr. has cautioned. “While cash transactions are anonymous, a CBDC will allow the government to surveil all our private financial affairs. The central bank will have the power to enforce dollar limits on our transactions restricting where you can send money, where you can spend it, and when money expires.” Meanwhile, Trump has stated: “I will never allow the creation of a central bank digital currency … This would be a dangerous threat to freedom, and I will stop it from coming to America.”
What are your thoughts on presidential candidate Robert F. Kennedy Jr.’s promise to pardon Ross Ulbricht if elected, as well as his commitment to sign a petition for Ulbricht’s release in the interim? Share your opinions in the comments section below. #Write2Earn

Nigeria Rejects Claims Jailed Binance Executive Denied Quality Healthcare

A Nigerian government official has rejected claims that the jailed Binance executive is being denied access to quality healthcare. In an apparent reference to the U.S. calls for Tigran Gambaryan’s release, the official stated that only the court, not the Nigerian government, can authorize such action.
Tigran Gambayran’s Detention Court Sanctioned
The Nigerian government has refuted claims that Tigran Gambaryan, a jailed Binance executive, is being denied access to healthcare. In a statement, Mohammed Idris, the Nigerian Minister of Information, also dismissed assertions that his country has unlawfully detained Gambaryan for more than four months.
Idris’s comments follow claims by U.S. Representative French Hill, who, along with another lawmaker, Chrissy Houlahan, visited Gambaryan at Kuje prison. According to a Bitcoin.com News report, the two American politicians said they found Gambaryan in poor health due to prison conditions.
However, in a statement issued via X, the Nigerian minister insisted that the Binance executive was receiving access to quality medical care and consular services from his home government.
“The Federal Government will not do anything to jeopardize his fundamental rights to lawful trial, and to quality care, including healthcare, even as he undergoes trial by the laws of the Federal Republic of Nigeria.”
On allegations that Gambaryan is being held hostage, the Nigerian official reiterated that his detention is a “court-ordered one.” He emphasized that only the court, not the Nigerian government, can sanction the release of the Binance executive.
Meanwhile, Idris suggested that his government’s tough stance against Binance aligns with actions taken by other governments worldwide. He added that by adhering to legal and diplomatic standards, his government demonstrates its commitment to “upholding justice and maintaining the integrity of its judicial processes.”
According to Idris, Gambaryan is receiving fair treatment, and his legal and human rights are safeguarded throughout the judicial proceedings.
What are your thoughts on this story? Share your opinions in the comments section below. #Write2Earn

German Law Enforcement Transfers $425M in Bitcoin From Seized Funds

Onchain data reveals that an entity likely tied to Germany’s Federal Criminal Police Office (BKA) transferred 6,500 bitcoin, valued at approximately $425 million, on June 19. Arkham Intelligence identified the address on Jan. 31 through its onchain monitoring systems.
German Authorities Transfer Seized Bitcoin
About four months ago, Arkham Intelligence announced on the social media platform X that it had flagged an address allegedly belonging to the BKA. “The German Federal Criminal Police Office (BKA) seized almost 50,000 BTC ($2.12B) from the operators of Movie2k.to, a film piracy website that was active in 2013,” Arkham stated in January.
Arkham added:
The BKA received the bitcoin in mid-January after a ‘voluntary transfer’ from the suspects.
In addition to the 6,500 BTC moved on June 19, the wallet also transferred some funds to another unknown wallet, which then sent several batches of 500 BTC to exchanges such as Bitstamp and Kraken. As of 12 p.m. EDT on Wednesday, the BKA wallet still holds 47,859 BTC, worth more than $3 billion.
In recent years, governments, including the U.S., have increasingly engaged directly with centralized crypto exchanges rather than using the auction process. This shift means that liquidity is more likely to enter the open market more quickly than if it were sold to private buyers.
What do you think about the German police sending out millions of dollars worth of bitcoin? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

Unique Residential Bitcoin Mining House in Dallas Listed for $2.4M

According to a house listing from Dallas, Texas, a crypto mining house is for sale in a residential neighborhood. The brick home is equipped with all the necessary supplies to start a data center, including a fully integrated liquid immersion system.
High-Tech Crypto Mining Home for Sale in Dallas Neighborhood
A newly listed home on Zillow indicates that a property designed for mining digital assets like bitcoin (BTC) is available for purchase. The Zillow listing, first discovered by theminermag.com and detailed in a report on their website, lists the house at $2.4 million.
The sale ad describes it as an “upgraded turnkey tier 2 data center with a full liquid cooling immersion system.” The house has been listed for eight days. The listing further notes that the house can be used for cloud hosting, artificial intelligence (AI) services, and bitcoin mining.

The residential property includes all the necessary equipment, according to the description. It also features a steel-reinforced CMU, three-phase power, two power grids, and a backup diesel generator for power outages. From the Google Maps street view, the house is located at a corner intersection.
Unlike other homes on the road, the mining house stands out as the other properties are smaller, normal-looking family homes with many cars. The 5,786-square-foot house has no bedrooms and one bathroom. It was originally purchased in November 2021 for $989,000.
According to Zillow, the estimated mortgage payment at the asking price would be around $16,459 per month. Most other homes in the neighborhood are valued between $250,000 to $550,000. The crypto mining home sits on a 0.54-acre lot, and Google Maps shows a massive brick wall surrounding the yard with a double-doored gate.
What do you think about the mining house in a residential neighborhood in Texas? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn

American mining companies and the 2024 Presidential election
The Bitcoin mining industry in the United States has come under sharper focus after former President Trump declared that Bitcoin should be "made in the USA," and hosted a private meeting with industry leaders from Riot Platforms, CleanSpark, and TeraWulf.
A picture of Riot Platforms CEO Jason Les and former President Trump. Source: Jason Les.
In a June 12 social media post, the 2024 Presidential candidate argued that Bitcoin might be America's "last line of defense" against a central bank digital currency (CBDC), before suggesting that Bitcoin could make the United States energy dominant.
Trump's comments have ignited a firestorm within the crypto community, with some arguing that he has no idea about the crypto industry and is merely pandering for votes. However, others like Shapeshift founder Erik Vorhees say that the details behind Trump's comments are much less significant than the welcome gesture they represent.
Mining industry reacts 
Immediately following Trump's meeting with mining industry players and his stated support for the broader crypto industry, executives from Marathon Digital Holdings, CleanSpark, and Riot Platforms launched "The Bitcoin Voter Project."
The 501(c)(4) non-profit organization is a non-partisan voter education initiative aimed at raising awareness and disseminating knowledge about the nascent digital asset market and the blockchain industry, rather than supporting any candidates or parties. #Write2Earn

IOHK partners with Ethiopian government to revamp education system
Blockchain technology will be used to enhance the educational experience of five million students and 750,000 teachers across the east African nation.
Input Output Hong Kong, or IOHK, is helping the government of Ethiopia leverage blockchain technology to overhaul its education system. 
The research and development arm behind Cardano is deploying its expertise to provide Ethiopian authorities with a new system for student and teacher identification, digital grade verification and the remote monitoring of school performance. IOHK’s Atala PRISM ID will allow authorities to create a tamper-proof record of educational performance for five million students across 3,500 schools. It will also enable the Ethiopian government to narrow down locations and causes of educational under-achievement.
John O’Connor, the director of IOHK’s Africa Operations unit, called Ethiopia’s blockchain-based education system a “key milestone” for his organization. He explained:
“After five years of R&D, Cardano is now mature enough to underpin a blockchain solution which can scale to serve an entire national population.”
IOHK believes that the current blockchain-based transformation of Ethiopia’s education system could also be extended to post-secondary institutions, especially in the application of digital verification.
Getahun Mekuria, Ethiopia’s education minister, commented on the initiative:
“We believe blockchain offers a key opportunity to end digital exclusion and widen access to higher education and employment.”
Africa has been one of IOHK’s primary development targets over the years. In 2019, the organization embarked on a new training initiative in Ethiopia and Uganda teaching women how to code in Haskell, the primary programming language behind Cardano. Beyond local initiatives, Africa is a central part of IOHK’s vision of bringing financial services to the world’s “unbanked population,” which is estimated at roughly 1.7 billion.
Cardano founder Charles Hoskinson believes Africa will play an important role in deploying blockchain infrastructure over the next five years. He expects to have several headquarters throughout the continent over that period. #Write2Earn

Ethiopia takes first step toward CBDC in economic reform
The country plans to have a legal framework and regulatory sandbox in place for CBDC introduction “as necessary.”
The National Bank of Ethiopia (NBE) has prepared two proclamations as part of an economic reform plan. One of them includes the establishment of a legal framework for introducing a central bank digital currency (CBDC). 
The policy changes foreseen by the NBE Proclamation include creating a legal framework for a CBDC “as necessary,” as well as increasing the NBE’s capital and creating a legal basis for consumer protection. The accompanying Banking Business Proclamation addresses liberalization of foreign investment in banking, corrective measures regarding “problem” banks and the creation of a regulatory sandbox for innovative financial solutions.
The Council of Ministers has approved the proclamations and will soon be introduced into the House of Representatives.
The central bank has broad reforms in mind
The proclamations are part of the government’s Homegrown Economic Reform Agenda. The privately owned Ethiopian newspaper The Reporter mentioned the government’s interest in a CBDC in April. It said a study would be launched in June. It added that the NBE also aims to join “the Cross Border Payment System” by December. It did not provide any specifics about that system.
Ethiopia has already taken steps toward economic liberalization, including ending the state monopoly on mobile money services. The country already uses blockchain-based digital infrastructure for large government payments.

Africa has mixed experience with crypto
Crypto adoption is making headway in several African countries, despite barriers such as low internet penetration. Not all attempts to introduce crypto have been successful. Notably, the Central African Republic adopted Bitcoin as a currency and launched a non-CBDC government cryptocurrency called the Sango with limited success. The Sango currency website is not functional at the time of writing.
Digital currencies remain illegal in Ethiopia, although the licensing of “dozens” of data mining firms have sought to take advantage of the country’s cheap electricity to mine crypto. Plans were also in place to introduce the Web3 Fuse payment system there.
At least 18 African countries are researching CBDCs. Nigeria has had mixed luck with the eNaira, launched in 2022 as the world’s second live CBDC. Zimbabwe used a government-issued gold-based token as the foundation for the introduction of the latest currency.

Why is the crypto market down today?
A hawkish Fed official and alarming outflows from the U.S.-based spot Bitcoin ETFs have helped drive the crypto market sell-off.
The cryptocurrency market took a hit today, with the total market capitalization dropping by over 4.30% to about $2.50 trillion on June 18. This plunge has left many investors scratching their heads, trying to understand the core catalysts behind this downturn and whether a recovery is on the horizon.

Fed official's rate cut projection hurt crypto market
Today's crypto market decline is part of a correction that started over the weekend when Minneapolis Federal Reserve chief Neel Kashkari made a "reasonable prediction" about only one rate cut in 2024. 

“We need to see more evidence to convince us that inflation is well on our way back down to 2%,” Kashkari said during a June 16 telecast on CBS’s Face the Nation, adding: 
“We’re in a very good position right now to take our time, get more inflation data, get more data on the economy, on the labor market, before we make any decisions.”
His comments contrasted bond traders' expectations of at least two interest rate cuts in 2024 in September and November. For instance, the target rate probabilities for the September rate cut have fallen to 55% on June 18 from 66% over the weekend.
The lowering of rate cut expectations coincides with a relief rebound in U.S. Treasury yields, with the annual returns on the benchmark 10-year bond (US10Y) rising 14 basis points since the weekly session opened on June 17.

Higher bond yields reduce the opportunity cost of holding riskier assets like cryptocurrencies, a reason why the crypto market has gone down considerably this week, including the losses today.
Bitcoin ETF outflows continue
Today's crypto market decline further takes cues from a de-risking strategy undertaken by the Bitcoin exchange-traded fund (ETF) traders and investors. 

Notably, the U.S.-based spot Bitcoin ETFs witnessed a 3.65% drop to around $15.10 billion in its holdings in the week ending June 14. The outflows trend continued this week, with the investment vehicles witnessing $145.90 million worth of withdrawals on June 17, bringing the net ETF reserves to $14.956 billion. 

Spot Bitcoin ETF cumulative inflows. Source: Farside Investors
These outflows coincide with a rise in the U.S. dollar's strength versus a basket of top foreign currencies, as tracked by the U.S. dollar index (DXY) metric below

A stronger dollar often signals a lower risk appetite among investors, which helps explain the accelerating outflows from Bitcoin ETFs and the resulting anxiety in the crypto market.
Long liquidations hurt crypto market bulls
The crypto market declines have accelerated further due to long liquidations overpowering the short ones in the last 24 hours.
Data from Coinglass shows that long traders—those betting on the crypto market upside—have witnessed circa $403 million worth of liquidations in the last 24 hours. In comparison, short traders suffered over $61 million in liquidations in the same period.

When long positions are liquidated, traders who are betting on prices going up are forced to sell their positions, often at a loss. This increased selling pressure has driven the crypto market valuation lower today.
Will the trendline support level hold? 
From a technical standpoint, today's crypto market declines are part of a correction inside its prevailing symmetrical triangle pattern. For instance, the market capitalization has dropped 12.34% after testing the triangle's upper trendline as support, as shown below.

Looking forward, the crypto market valuation may rebound toward the upper trendline after testing the lower trendline as support. This could ideally take the market cap toward $2.48 trillion by June, up 9.5% from the current levels 
Conversely, a breakdown below the lower trendline will likely crash the crypto market cap toward its 200-day exponential moving average (200-day EMA; the blue wave) at around $2.09 trillion.

Report Says Biden Administration, Mark Cuban, and Ro Khanna Set for Critical Crypto Roundtable

Members of the Biden administration are reportedly convening for a bitcoin and blockchain roundtable with American entrepreneur and “Shark Tank” star Mark Cuban. This news comes after presidential candidate Donald Trump vowed to “end Joe Biden’s War on Crypto.”
Reported Crypto Roundtable With Biden Administration Scheduled for July
The former 45th U.S. President, Donald Trump, has recently begun to assure bitcoin (BTC) and blockchain advocates that he would be the optimal choice for U.S. President in 2024 to safeguard these technologies. Incumbent U.S. President Joe Biden and the Democratic Party have faced accusations of choking cryptocurrency innovations, including non-custodial solutions.
As often seen with politicians, the Biden administration may be altering its position. Bitcoin Magazine has reported that California U.S. Congressman Ro Khanna is organizing a bitcoin and blockchain roundtable with members of the Biden administration. In addition, members of both the U.S. House of Representatives and Senate are expected to participate in this purported meeting. Billionaire Mark Cuban, known for his use of cryptocurrency and investments, is also set to attend, according to the report.
Whether the meeting will actually take place is still uncertain. The letter describes the roundtable as “the most significant meeting between policymakers and innovation leaders in blockchain to date.” Although Cuban is supportive of crypto and not necessarily a leader in the space, the letter does not mention any other blockchain sector representatives. The meeting is reportedly scheduled for “early July.” Cuban has warned in the past that the U.S. Securities and Exchange Commission’s (SEC) actions could cost Biden the election.
What do you think about the alleged bitcoin and blockchain roundtable with members of the Biden administration? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn