🏦 $2,300,000,000,000 Asset Management Giant Registers for Crypto Custody License in France
One of Europe’s largest asset-servicing groups has recently been granted the license by the financial market regulator Autorité des Marchés Financiers (AMF) to provide crypto custody services in France. According to a new press release, CACEIS Bank, the CACEIS group’s banking arm in France, just received PSAN (Prestataires de Services sur Actifs Numériques) status from the AMF, which allows the financial institution to operate as a crypto asset custodian authorized to store users’ private keys. 🔗 Read more

😱 He lost $340,000 to a crypto scam. Such cases are on the rise
Naum Lantsman was sure his cryptocurrency investments were making money. Every time he'd log on to the trading platform he was using, it looked like he was reaping windfall profits. But Lantsman, in fact, was one of a growing number of people who've fallen victim to cryptocurrency scams. "I heard, and I read, but somehow I thought that I am not going to be one of them," he said. 🔗 Read more

🏛 Coinbase Files Motion To Dismiss SEC’s Suit
Crypto exchange Coinbase filed a motion to dismiss the recent lawsuit lodged against it by the U.S. Securities and Exchange Commission (SEC). In a legal document filed today, Coinbase raised concerns about the SEC’s interpretation of securities laws, suggesting the agency was reaching beyond its legal authority. Filing a motion to dismiss underscores Coinbase’s determination to challenge the SEC’s lawsuit. A motion to dismiss argues that even if all the allegations in the lawsuit are true, the plaintiff does not have a valid legal claim. 🔗 Read more

💰 MicroStrategy Buys More Bitcoins - Owns Now Over $4.5B
The company is currently the largest corporate holder of Bitcoins with its total BTC holdings at 152,333. This week, MicroStrategy announced the purchase of over 12,000 Bitcoins worth $350 million.The recent purchase takes its treasury value to more than $4.5 billion while holding a total of 152,333 Bitcoins. The average price of Bitcoin holding for the company is $29,668 per BTC. 🔗 Read more

🥱 US SEC deems spot Bitcoin ETFs filings as Inadequate
In the eyes of the SEC, the recent filings from BlackRock, ARK Invest, Fidelity and other asset managers are not “sufficiently clear and comprehensive.” There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission labelled investment managers’ recent applications inadequate. 🔗 Read more

📰 This Week In Crypto (CW 26)

1. SEC calls ETF Filings inadequate

2. Binance loses Euro Banking Partner

3. FTX recovered $7B, $2B still missing

4. KuCoin to introduce Mandatory KYC

5. 3AC Liquidators look to recoup $1.3B from Founders

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CW25 (last week)

🛑 Has SEC Chairman Gary Gensler Resigned?
As some may have read, rumors have been circulating in the crypto community that Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), resigned from his post. These rumors originated from a Twitter account that shared a lot of untrue developments earlier. However, Fox Senior Correspondent Charles Gasparino clarified that these rumors were unfounded after contacting the SEC’s public relations department. 🔗 Read more

🔥 BlackRock Has Re-applied Spot Bitcoin ETF After Its Arrangement
BlackRock, the world’s largest asset management company, has re-applied by issuing its Bitcoin spot ETF application after the SEC’s warning. Nasdaq has again submitted a bid to launch a spot Bitcoin exchange-traded fund (ETF) in partnership with the world’s largest asset manager BlackRock and leading US cryptocurrency exchange Coinbase. If approved, this ETF would be the first of its kind in the United States, where regulators have so far rejected or delayed dozens of Bitcoin ETF applications, citing concerns about market manipulation, investor protection, and custody issues. The SEC has approved only two bitcoin futures ETFs that track the price of BTC contracts traded on regulated exchanges. 🔗 Read more

⚔️ The Supreme Court could stop the SEC’s war on crypto
When the leaders of the American Revolution signed the Declaration of Independence on July 4, 1776, they had no guarantee of victory. The battle for independence was underway, and their prospects were uncertain. Despite occasional victories, these audacious freedom fighters were grossly outnumbered and had difficulty retaining volunteer soldiers. Their commitment to the cause of freedom was their only fighting chance. Cryptocurrency as an open-source software industry is in a similar predicament. The United States Securities and Exchange Commission and banking regulators are trying to dismantle this budding industry, brandishing lawsuits and an intimidating array of regulatory measures designed to make compliance impossible. 🔗 Read more

🥇BlackRock CEO calls Bitcoin “digital gold”
BlackRock CEO Larry Fink made important remarks about the role of cryptocurrencies in the financial world, saying they are a kind of “digital gold” and identifying Bitcoin (BTC) as an international asset. Fink’s comments were made during an interview with FOX Business, in which he discussed the potential of cryptocurrencies and their role in investment portfolios. Fink believes that cryptocurrencies, particularly Bitcoin, can serve as a digitized form of gold. Traditionally, gold has been considered a hedge against inflation and currency devaluation. 🔗 Read more

🚀 Bitcoin bull run incoming: Binance CEO Changpeng Zhao reveals when
Binance CEO Changpeng “CZ” Zhao has delivered his prediction for the next Bitcoin bull market. In a July 5 “ask me anything” session on Twitter, CZ covered BlackRock's intention to enter the crypto market, updated listeners about ongoing regulatory action against the exchange, and gave his thoughts on the next bull run. CZ explained that the price of Bitcoin has historically moved in four-year bull cycles and his best bet was that this would continue to occur. While he admitted that he couldn’t see the future, Zhao emphasized the upcoming Bitcoin halving event in 2024 and declared 2025 to be the most likely year for the next bull market, stating: “The year after Bitcoin halving is usually the bull year.“ 🔗 Read more

🏎 As Race for Spot BTC ETF Hots Up, CEO Cathie Wood Says Ark Invest is First in the Queue
The first Bitcoin ETF application was filed way back in 2013 by Cameron and Tyler Winklevoss. However, the US regulators have not approved any such application to date. But now, they are seemingly under tremendous pressure, with some of the biggest players in traditional finance throwing their hats in the ring. In the latest, the world’s largest fund manager – BlackRock – filed on June 15 for a spot Bitcoin investment trust fund through iShares, the company that manages its family of ETFs. In less than two weeks, several other companies, including rival asset management giant Fidelity, refiled for spot Bitcoin ETFs. The other prominent names include Invesco, WisdomTree, Valkyrie Investments, and VanEck. 🔗 Read more

💡 Brighter Times Lie Ahead For XRP As Bank Of America Heaps Praises On Ripple’s Cross-Border Payments
In a recent report by Bank of America, the role of Ripple in the payments industry, especially in the Asia-Pacific (APAC) region, has been hailed by the second-largest bank in the United States. A team of analysts from the bank is unabashedly bullish on the company’s tech. Bank of America acknowledges the evolutionary power of technology in enabling real-time payments. According to the bank’s report, APIs are the primary catalysts for the adoption of real-time payments, and they have revolutionized both customer connectivity and transaction processing. 🔗 Read more

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📰 This Week In Crypto (CW 27)

1. ‘Bitcoin is an international asset’ - BlackRock CEO’s bullish remarks

2. Denmark orders Saxo Bank to erase cryptocurrency holdings

3. Gemini files lawsuit against Digital Currency Group and Barry Silbert over Genesis and Earn program

4. Bitcoin bull run incoming: Binance CEO Changpeng Zhao reveals when

5. Over $1 billion inflows into Solana in a day

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CW26 (last week)

🚀 Standard Chartered boosts 2024 bitcoin forecast to $120,000
Standard Chartered published a $100,000 end-2024 forecast for bitcoin back in April on the view the so-called "crypto winter" was over, but one of the bank's top FX analysts, Geoff Kendrick, said there was now 20% "upside" to that call. "Increased miner profitability per BTC (bitcoin) mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher," Kendrick said in a report. 🔗 Read more

⚖️ US SEC files lawsuit against Celsius and Alex Mashinsky
The United States Securities and Exchange Commission is taking action against Celsius Network, one of the cryptocurrency lending firms that collapsed in 2022. The securities regulator filed a lawsuit against Celsius’ former CEO, Alex Mashinsky, on July 13, charging the executive and Celsius for raising “billions of dollars” through unregistered and fraudulent offers, as well as selling “crypto asset securities.” In the complaint, the SEC argued that Mashinsky falsely promised investors a safe investment with its lending service known as the “Earn Interest Program.” Celsius and the executive also fraudulently manipulated the price of Celsius’ own crypto asset security, the Celsius token, the SEC wrote. 🔗 Read more

🔥 BREAKING: Judge Declares XRP Not A Securities!
The judge said that Ripple XRP sales do not constitute an investment contract offering. Ripple won the ruling that XRP is not a security, the judge also ruled that institutional sales of XRP by Ripple are securities. When the time comes, the court will issue a separate decision setting the hearing date and relevant preliminary hearing times. Judge Torres said that Ripple's Programmatic Sales, other distributions and XRP sales of Larsen and Garlinghouse do not constitute investment contracts. The judge said that crypto tokens sold to the public may not be securities. 🔗 Read more

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