🚀 Bitcoin (BTC) briefly rocketed to a one-week high of $59,516 on July 11, following a US Consumer Price Index (CPI) report showing inflation slowing more than expected. Both crypto and US stock markets reacted positively to the news. However, the BTC price increase was short-lived, quickly erasing the initial $1,000 gain. Crypto traders are keeping a close eye on the $60,000 mark, viewing it as a key resistance level. Meanwhile, the market mood remains cautious as the distribution of coins from the defunct Mt. Gox exchange begins. So, buckle up, crypto enthusiasts! It's another rollercoaster ride in the world of Bitcoin! 🎢

🕵️‍♂️Crypto's game of hide-and-seek is getting trickier! A Chainalysis report reveals billions flowing from shady wallets to conversion services monthly, using advanced techniques to blur the money trail. Intermediary wallets or "hops" are the new black, making it tough to trace funds. Stablecoins like Monero add another layer of complexity, but also risk, as issuers can freeze funds. Mixers like Tornado Cash and privacy coins like Zcash are also in the mix, making tracing a Herculean task. Centralized exchanges remain a hotspot for illicit funds, but improved AML programs are causing a dip. The report calls for better blockchain analysis tools and stricter regulations to tackle these crypto-laundering tactics.

🚀The US Supreme Court's Loper Bright vs. Raimondo decision could be a "game changer" for the crypto industry. The verdict means courts no longer need to defer to federal agencies when interpreting ambiguous statutes, a practice in place since 1984. This could lead to more companies challenging agencies like the SEC, potentially creating a more level playing field. The decision may also spur Congress to pass crypto reform legislation. However, the ruling doesn't eliminate the rulemaking capabilities of regulatory agencies, limiting its applicability. Crypto, hold onto your hats, it's going to be a wild ride! 🎢

📈 MicroStrategy, the Nasdaq-listed business intelligence firm with a crypto-crush, has announced a 10-for-1 stock split. The goal? To make their class A and B common stock more accessible to investors and employees. It's like a buy-one-get-nine-free deal, but for stocks! The stock dividend will be distributed after trading closes on Aug. 7, 2024, and trading on the split-adjusted stock will kick off on Aug. 8, 2024. Don't worry, your voting rights won't be affected. Stay tuned for more updates on this stock-split saga!

🗳️ Crypto voters are gearing up to make a big splash in the upcoming US elections! A recent study by Coinbase reveals that 1 in 6 crypto owners reside in key battleground states. 🇺🇸 These crypto enthusiasts are a diverse and youthful bunch, with Gen Z and Millennials making up 65% of the group. They're not just hodling either - 9 out of 10 are likely to cast their vote this November. And guess what? They're 4 times more likely to vote for a pro-crypto candidate. So, politicians, it might be time to brush up on your blockchain lingo! 🚀

📣 Binance, the crypto bigwig, is reportedly trimming its beefy 72.6% stake in South Korean exchange Gopax down to a lean 10%. This comes as Binance aims to spruce up its governance structure, a move that's got the local financial authorities' thumbs up. This stake sale is happening just in time for Gopax's real-name account contract renewal with Jeonbuk Bank in August. Binance's initial capital injection into Gopax in 2023 was a bid to make a grand return to the South Korean market, but the financial authorities played goalie and blocked the move. Stay tuned for more updates! 🚀

🔬 OpenAI, known for its advanced AI models, is teaming up with Los Alamos National Laboratory (LANL) for a bit of bioscience fun. The duo aims to explore how AI can assist scientists in the lab, with a focus on biological safety evaluations for GPT-4o. The partnership will also delve into "wet lab techniques" and new "modalities" of AI use in the lab. So, no atomic bombs this time, just a bit of friendly cell transformation and biothreat risk research. Meanwhile, big tech firms like Microsoft are distancing themselves from OpenAI due to regulatory concerns.

📉Terraform Labs, the bankrupt crypto firm, is having a yard sale! On offer are four of its businesses, part of a $4.5 billion deal with the US securities regulator. The items up for grabs include Pulsar Finance, Station, Enterprise, and Warp. The sale is a part of Terraform's "everything must go" strategy to pay off its creditors and wind down operations. Last month, Terraform and its former CEO, Do Kwon, agreed to a $4.5 billion settlement with the SEC, effectively ending their crypto career. Interested buyers are invited to contact Terraform's investment banker, CAVU Securities.

🔒Railgun, the crypto privacy protocol, has once again proven its mettle! A recent attempt by the notorious Inferno Drainer to launder over 174 Ether ($533,000) was thwarted by Railgun's ingenious Private Proofs of Innocence (Private POI) system. The system, which uses zero-knowledge cryptography, ensures that only the good guys can use the protocol, sending the bad guys packing with their ill-gotten gains. Since its inception, Inferno Drainer has swindled over $180 million from unsuspecting victims. But thanks to Railgun, it seems their days of easy money are numbered. Privacy is "normal", but crime isn't! 🚀

📣 Texas jury clears Marathon Digital's site manager of noise violation charges! David Fischer, the man in the hot seat, was accused of operating the crypto mining site at ear-splitting levels. But the jury said, "Not so fast!" The case, which had locals in Granbury, Texas, covering their ears and complaining of health issues, pointed the finger at Fischer. But his lawyers argued that the noise was all part of the crypto-mining game and within legal limits. Marathon Digital, meanwhile, plans to swap out its noisy air-cooled mining containers for quieter, fluid-immersed ones by year's end. So, Granbury residents, you might want to hold off on buying those earplugs! 🎧

🌍 Africa and Asia are the new hotspots for crypto startups, stealing the limelight from Uncle Sam and his Canuck cousin! Europe has also joined the party, leading the pack with a 31.4% share of new startups in H1 2024. Asia's not far behind, bagging the bronze with 26.8%. Why the shift? Blame it on the regulatory rollercoaster in the US and the growing adoption of digital assets in emerging markets. Meanwhile, the number of startup founders from big tech and top universities has taken a nosedive. So, who's launching these startups? Mostly solo founders and small teams of 2-5 members. So, grab your popcorn and watch this global crypto startup race unfold! 🍿

📣 News Flash! The U.S. Commodity Futures Trading Commission (CFTC) Chair, Rostin Behnam, is calling dibs on Bitcoin and Ether, claiming they're commodities and should fall under his agency's watchful eye. This follows a recent court ruling in Illinois that backed up this claim. Behnam warned that ignoring the crypto market won't make it disappear, but will only increase risk to financial markets and investors. He's ready to roll up his sleeves and introduce tailored rules for the crypto world, including a comprehensive education and outreach program. So, folks, it seems like the crypto regulatory roller coaster is just getting started! 🎢

📊 CoinGecko's latest survey reveals a split sentiment among crypto enthusiasts. About half of the 2,500 respondents are bullish on the crypto market, while a quarter are bearish, and another quarter are neutral. The most bearish group? The spectators, with 40% expressing some level of pessimism. Meanwhile, long-term investors and crypto professionals are the most bullish. The survey comes as Bitcoin trades around $57,585, slightly up from last week's dip below $54,000. So, whether you're a bull, a bear, or a spectator, grab your popcorn and enjoy the crypto roller coaster ride! 🍿

🚨Malaysia's crypto miners have been caught with their hands in the electricity jar! Between 2018 and 2023, they allegedly stole a shocking $723M worth of power. Deputy Minister of Energy, Akmal Nasrullah Mohd Nasir, revealed this electrifying news at a recent event. Over 2,000 seized items, including Bitcoin mining machines, were disposed of (some under a steamroller, ouch!). Nasir warned that while crypto mining isn't illegal, stealing power to do it certainly is. So, miners, better plug into renewable energy sources or risk a shocking surprise! 💡

Bitcoin's been on a rollercoaster ride, folks! 🎢 The big BTC took a 16.5% tumble from its July 1 high, marking the "deepest correction" in 24 months, says Glassnode. But don't fret, this is shallower than past cycles and shows Bitcoin's growing maturity as an asset class. However, this dip has left 83% of short-term holders in the red. If BTC can't break past the $58,000 resistance zone, we might be in for a bearish outlook. But hey, every rollercoaster has its ups and downs, right? Let's strap in and enjoy the ride! #BitcoinBumpyRide

📣 BitMEX, the crypto exchange, has pleaded guilty to violating the Bank Secrecy Act, admitting to operating without a significant Anti-Money Laundering (AML) program. US Attorney Damian Williams quipped, "BitMEX opened itself up as a vehicle for large-scale money laundering, like a crypto version of 'Breaking Bad'." The exchange's founders, Hayes, Delo, and Reed, are facing a combined $30 million civil penalty. Williams added, "This guilty plea is a reminder for crypto companies to comply with US law, or face the music."

🎢 Ether's rollercoaster ride continues! After a heart-stopping 18% drop to $2,826, ETH is dusting itself off and climbing back up, currently sitting pretty at $3,100. Despite the dip, traders are keeping their chins up, with onchain and derivatives metrics hinting at a return of confidence.

The launch of the Ethereum ETF in the US might be taking its sweet time, but strong fundamentals suggest a price rebound is on the cards. And with 40% of Ether’s supply locked in staking and DApps, there's less ETH available for immediate trading, meaning investors are less likely to sell in the short term.

Ethereum's layer-2 solutions are also gaining traction, offering investors a cheaper alternative to Ethereum's hefty transaction fees. Meanwhile, ETH derivatives are showing bullish signs, with the demand for call options outpacing put options.

So, despite the recent turbulence, it seems ETH might soon be soaring above the $3,400 resistance. Buckle up, folks! 🚀

Crypto payment company Payeer has been slapped with a whopping €9.29 million fine by the Lithuanian Financial Crime Investigation Service (FNTT) for violating Anti-Money Laundering regulations. 😱 This is the largest fine ever imposed on a virtual asset service provider in Lithuania. The FNTT accused Payeer of failing to identify its customers and allowing transfers to sanctioned Russian banks. Despite attempts to get Payeer to cooperate, the company remained unresponsive. Payeer, however, has the right to appeal the decision. This comes amidst a global crackdown on crypto exchanges flouting AML regulations.

🇺🇸 US Congress members and a Biden adviser had a chinwag with crypto bigwigs, including Ripple's Brad Garlinghouse and Coinbase's Paul Grewal. The crypto roundtable, dubbed a "productive step forward," aimed to approach digital assets as a nonpartisan issue. Garlinghouse hinted this could be the first step from chit-chat to action, despite political divides. Meanwhile, Congress is considering overriding Biden's veto of a resolution affecting an SEC rule on crypto. Could this mean Biden is rethinking his crypto stance? Stay tuned, folks!

🎉In a twist of fate, a bankrupt hedge fund's wallet bought a Neon Village NFT for a cool $59,000, thanks to a forgotten three-year-old offer. Meanwhile, Matter Labs, the zkSync developer, is busy denying accusations of "insider minting" for its Libertas Omnibus NFTs. They insist that all minters met official criteria, including attending their parties! 🥳 In other news, Ethiopian art is getting a digital makeover at the Toledo Museum of Art, where historical artifacts meet modern NFT art. So, whether you're an old bid forgetter, a party-going minter, or an art-loving crypto enthusiast, there's something for everyone in this week's crypto roundup!