"Bitfarms increased Bitcoin production by 21% in June, fending off attempts to take over Riot Platforms. The Canadian company mined 189 BTC, selling 134 of them for $8.8 million. However, Bitcoin production decreased by 51% compared to June 2023 due to the latest halving events. Bitfarms has increased its installed hashrate to 11.4 EH/s and continues to strive for the target of 21 EH/s by the end of 2024 📉#cryptocurrency#Bitfarms"

"📉 Bitcoin hashrate declining to levels not seen since December 2022 could indicate a market bottom has been reached. CryptoQuant data shows the true Bitcoin hashrate decline is -7.6%. Other indicators such as Bitcoin exchange reserve, miner position index (MPI) and Bitcoin miner reserve also indicate low selling pressure. Recently, a 90% decline in Bitcoin miner withdrawals after the halving indicates minimizing selling pressure from miners. However, if the Bitcoin price falls to $40,000, some of the world's largest miners. companies may be forced to give up."

The SEC filed a lawsuit against Silvergate Capital Corporation, accusing it of supporting fraud on the FTX exchange. 🏛️ Former CEO Alan Lane and former chief risk officer Kathleen Fraher are accused of misleading investors about their Bank Secrecy/Anti-Money Laundering Act compliance program. Silvergate's former chief financial officer, Antonio Martino, is accused of misleading investors about the company's losses. All parties except Martino agreed to settle the dispute with the SEC. Silvergate agreed to pay a $50 million fine without admitting or denying the charges.

📉 The week from June 24 to June 29 was difficult for Ethereum-based products: investors withdrew $61 million, which brought the total outflow of funds in two weeks to $119 million. The total balance of June was $37 million withdrawn.
- Despite the approval of Ether-based funds in May, the price of the cryptocurrency fell 8.7% in June.
- The eight approved funds are expected to begin operations in the coming weeks.
- Overall digital asset performance was down $30 million over the past week, although most Bitcoin ETF providers saw modest inflows.
- This year, $545 million was withdrawn from blockchain shares, which is 19% of the market capitalization.

In the past seven days, the US Supreme Court has issued two decisions that could have long-term implications for the SEC's actions against companies, including cryptocurrencies. 🏛️

1. In a 6-3 decision in SEC v. Jarksey, the majority of the justices concluded that defendants in a civil SEC securities fraud case are entitled to a jury trial, not just a decision by an administrative judge.
2. The Supreme Court followed the SEC v. Jarksey decision with the June 28 opinion - Loper Bright Enterprises v. Raimondo, overturning the 1984 decision that established the Chevron preemption, or doctrine.

“This has direct implications for the crypto industry,” said Sheila Warren, CEO of the Crypto Council for Innovation. "The role and firepower of regulators like the SEC is called into question if the courts are allowed to intervene."

The impact of these decisions on the SEC filing lawsuits against crypto companies could mean an overburdened court system.

📉 Despite the bears' attempts to push Bitcoin (BTC) below support in the range of $56,552 - $73,777, recovery has begun. However, analysts warn of possible obstacles to the rally. Risk may come from Mt. payouts. Gox starting in July. It is expected that lenders may rush out to lock in huge profits from Bitcoin since the hack. This could create selling pressure that could push Bitcoin lower.

The S&P 500 Index (SPX) set a new record on June 28, but bulls were unable to sustain higher levels. This indicates that short-term traders are taking profits.

Bulls lifted the US Dollar Index (DXY) above resistance at 105.74 on June 26, but bears returned the price below the breakout level on July 1.

Bitcoin crossed $62,500 on June 30. The bulls are trying to strengthen their positions by pushing the price above the resistance of $64.602.

Bulls are trying to start a relief rally in Ether (ETH), which is likely to face strong resistance at the moving averages.

The bears' failure to push BNB (BNB) below the $560 support suggests that selling has dried up at lower levels.

Bears pushed Solana (SOL) below the 20-day EMA ($143) on June 28 but were unable to hold lower levels.

XRP (XRP) has been trading below the 20-day EMA ($0.48) for the past few days, but the bears have failed to push the price below the $0.46 support.

Toncoin (TON) bounced off the 20-day EMA ($7.45) on June 29, indicating bulls are buying on small dips.

Bears were unable to push Dogecoin (DOGE) below the $0.12 support, indicating that bulls are actively defending this level.

Cardano (ADA) has been trading near the $0.40 resistance over the past few days, indicating that bulls are maintaining buying pressure.

🔔New EU rules regarding stablecoins came into force on June 30. Crypto exchanges including Uphold, Binance, Kraken and OKX have begun delisting some stablecoins such as Tether (USDT). Experts suggest that non-compliant stablecoin issuers may leave the EU market entirely.

The US IRS has published final rules for crypto brokers. Decentralized exchanges and self-storage wallets are not subject to the new reporting rules.

The Central Bank of Bolivia has lifted the ban on Bitcoin and cryptocurrency payments, allowing financial institutions to conduct transactions with digital assets.

Coinbase has filed lawsuits against the SEC and the US FDIC for non-compliance with the FOIA.

📉 Bitcoin (BTC) again surpassed the $63,000 mark, despite government sales of cryptocurrency and the bankruptcy of Mt. Gox. New investors and increased volatility in traditional markets have helped bolster confidence in BTC.

On July 1, the German government transferred 1,500 BTC to various crypto exchanges, and the American government transferred 1,184 BTC on June 30. These transactions fueled rumors of possible selling pressure as the US government holds $13.4 billion worth of BTC in its wallet.

Despite government sales of more than $300 million, the price of Bitcoin has shown resilience. This was bolstered by Bitcoin exchange-traded funds absorbing some of the supply, adding a net $137 million in four trading days from June 25 to 28.

Michael Dell, founder and CEO of Dell Technologies, caused a stir on June 21 by hinting at a possible investment in Bitcoin.

On July 1, Amber Japan, a division of Sony, renamed itself S.BLOX to focus on cryptocurrency trading.

The growing demand for Bitcoin also reflects investor dissatisfaction with the valuations of traditional market assets such as stocks and real estate.

On July 1, Jeremy Allaire, co-founder and CEO of Circle, announced that the company became the first stablecoin issuer in the EU to receive regulatory approval under the extensive MiCA regulatory framework. 🎉

USDC and EURC Circle are now compliant with the new rules, easing investor concerns about having to trade their stablecoins or transfer funds into other digital assets.

Allaire also announced that Circle has chosen France as its European headquarters, noting France's progressive approach to digital asset regulation.

In anticipation of EU regulatory changes, several exchanges have announced changes to their stablecoin policies. Uphold delisted six stablecoins, including Tether (USDT), Dai (DAI), TrueUSD (TUSD), Gemini dollar (GUSD), Pax dollar (USDP) and Frax Protocol (FRAX). Bitstamp followed suit by delisting Tether's stablecoin EURT. Binance has taken a softer approach, employing a sell-only strategy for certain stablecoin products in the European market.

📉 The Aptos Foundation proposed to expand its blockchain capabilities by introducing Aave Protocol v3 on the Aptos main network. If the Aave community approves the proposal, it will mark the first time that the Aave open liquidity protocol goes beyond Ethereum Virtual Machine (EVM) compatible blockchains.

Aptos is a layer 1 blockchain designed for scalability and easy development of decentralized applications (DApps). It is not compatible with EVM, instead using its own architecture and virtual machine based on the Move programming language.

Aave is a non-custodial liquidity protocol where users can participate as depositors or borrowers. Aave is one of the most popular decentralized finance protocols, with a total value locked of over $12 billion.

Aptos recently achieved a record level of user transactions, reaching 115.4 million in a single day, largely due to the popularity of the game "Tapos Cat". However, in October 2023, the Aptos network experienced a five-hour outage, which led to a temporary suspension of deposits and withdrawals on crypto exchanges.

The United States Marshals Service (USMS) will use Coinbase Prime to store certain digital assets as part of its asset forfeiture duties. 🚨
On July 1, Coinbase announced that USMS had selected the exchange's institutional investment arm to provide custody and advanced trading services for large-cap digital assets.
In 2022, the Department of Justice's Office of Inspector General revealed that the USMS had problems managing and tracking cryptocurrency.

Ethereum co-founder Vitalik Buterin is looking for ways to speed up transactions on the Ethereum network using tools that will potentially reduce layer-1 (L1) confirmations from seconds to milliseconds. 🚀 Buterin proposes abandoning Ethereum's current epoch and slot mechanism in favor of a single slot finality (SSF) system, pointing out key problems with such implementations. He stressed that there is potential to further speed up transactions.

"The world's largest stablecoin issuer Tether has introduced a new cryptocurrency payment method for the Filipino population, allowing them to pay their Social Security System (SSS) contributions in USDT. Tether has partnered with Uquid to enable Filipino citizens to pay their SSS contributions in Tether USDT on the blockchain TON. 🌐 This highlights how stablecoins and cryptocurrencies in general can simplify and improve our daily lives."

The German and American governments are actively transferring cryptocurrency, attracting attention. On July 1, Germany transferred 1,500 BTC (approximately $95 million) to various crypto exchanges, and the United States transferred 3,375 ETH ($11.75 million) to an unknown address. 🧐

According to Arkham Intelligence, Germany has transferred 2,700 BTC to Bitstamp, Coinbase and Kraken over the past two weeks. In recent transactions, 400 of the 1,500 BTC were sent to these exchanges.

The US made large transactions, in particular, transferring the entire amount of ETH ($11.75 million) to a previously unlinked address.

These frequent transfers indicate strategic management of funds. Germany may be planning to liquidate assets on major exchanges.

Cardano co-founder Charles Hoskinson has expressed concerns about artificial intelligence (AI) censorship. He believes that major AI systems such as OpenAI, Microsoft, Meta and Google are controlled by a small group of people who determine the information to train these systems. 🤖 Hoskinson emphasized that these people cannot be “sacked.” Hoskinson's Q&A confirmed that AI must be open and decentralized to prevent control by tech giants.

📉 In June, losses from hacker attacks on cryptocurrencies decreased by 54.2% compared to May. According to the analytical company PeckShield, about 20 incidents were recorded, as a result of which about $176 million were lost. The greatest damage was caused by an attack on the BtcTurk crypto exchange - more than $100 million. In May 2024, hackers stole $385 million. In the second quarter of 2024, losses increased by 115% compared to the same period in 2023. Most losses occur on centralized exchanges.

"Amber Japan" is now "S.BLOX"! The company, operating under the wing of Sony Group, changed its name on July 1. 🔄 Known for running the cryptocurrency trading service WhaleFin, S.BLOX plans to collaborate with various businesses of Sony Group to expand cryptocurrency trading. The renaming follows the purchase of Quetta Web, a wholly owned subsidiary of Sony Group Corporation. S.BLOX has also announced plans to significantly upgrade its WhaleFin service.

"Bitcoin (BTC) starts the third quarter of 2024 with a rally, aiming to regain lost ground on its way to an all-time high. BTC price is back, support at $60,000 remains stable. BTC has a lot of work ahead to continue the bull market. Macroeconomic data, including data on US unemployment and inflation could add to this week's volatility. Attention is also on Bitcoin miners. Will low hash prices keep the industry from rebounding after weeks of “capitulation”?

According to Apollo Crypto, NFT sales fell 44% in the second quarter, possibly due to a surge in meme coins associated with celebrities, politics and animals, as well as a slowdown in the crypto market. 📉

- NFT sales fell from $4.14 billion in the first quarter to $2.32 billion in the second quarter.
“Meme coins are likely a distraction from NFTs,” said Apollo Crypto chief investment officer Henrik Andersson.
- However, meme coin trading volume continues to be huge, reaching $3.4 billion in the last 24 hours.
- Developments based on Bitcoin Ordinals may also draw attention away from traditional NFTs in the coming months.

Despite the downturn, NFTs have previously recovered their position, which could give hope for an NFT comeback in the second half of 2024.

"Bitcoin (BTC) may see a strong rebound in July after a weak June, where the cryptocurrency fell nearly 7%, analysts say. 📉 Historically, BTC has posted minimal monthly gains of 8% in July over the past 11 years. However, some analysts are predicting , that July may be more difficult than usual due to large Bitcoin sales by the German government and the upcoming Mt. Gox payments, which may put pressure on the Bitcoin price#cryptonews#bitcoin"