Crypto News Today – July 1st, 2024

Welcome to “Crypto News Today,” your daily summary of significant happenings in the Crypto Industry.

Peter Thiel on Bitcoin’s Future 

Peter Thiel, co-founder of PayPal (NASDAQ: PYPL) and early Bitcoin investor, expressed a cautious outlook on Bitcoin’s price, suggesting it may not rise dramatically in the near future. Thiel’s perspective, given his influential status, could lead to more cautious investment strategies in the cryptocurrency market​. Read all about it on the TDR Website!

Spot Bitcoin ETFs Rebound with $137.2M Inflow Surge

Spot Bitcoin ETFs have experienced a significant inflow of $137.2 million over the past four days. This recovery follows a period of net outflows, signaling renewed investor confidence in these financial products despite market volatility​​.

SEC Sues ConsenSys Over MetaMask Staking 

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against ConsenSys, alleging that the company engaged in unregistered broker activities related to MetaMask’s staking services. This legal action marks another significant regulatory challenge for the crypto industry​​.

Ripple’s Court Win Leaves Questions 

Ripple Labs scored a legal victory recently, but the ruling has left some ambiguity regarding whether XRP should be classified as a security. This decision has significant implications for the regulatory treatment of cryptocurrencies in the U.S. moving forward​​.

Solana ETF Applications and Political Bets 

Applications for Solana ETFs have surged, with many speculating that these moves are bets on a potential pro-crypto stance from the next U.S. administration. The prospect of favorable regulatory changes under a new presidency has investors optimistic about the future of crypto-friendly policies​​.

Bitcoin and Crypto Markets Close Weak Quarter 

The cryptocurrency market is wrapping up a lackluster quarter, with Bitcoin and other major cryptos experiencing stagnant or declining prices. Analysts suggest that more pain could be in store, as macroeconomic factors and regulatory pressures continue to weigh on the market​.

Ethereum Could Hit $65K This Year 

An analyst predicts that Ethereum could reach $65,000 by the end of 2024, driven largely by inflows into spot ETFs. This optimistic forecast hinges on continued strong interest and investment in Ethereum-based financial products​.

Kraken Co-Founder Donates $1M to Trump 

Jesse Powell, co-founder of Kraken, has donated $1 million, primarily in Ether, to Donald Trump’s campaign. This significant contribution highlights the ongoing intersection of cryptocurrency and politics, with major players in the crypto space increasingly engaging in political activities​.

Read more crypto news on the TDR Website! 

Want to be updated on Cannabis, AI, Small Cap, and Crypto? Subscribe to our Daily Baked in Newsletter!

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More