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Crypto News Today – July 1, 2024
Welcome to “Crypto News Today”, your daily summary of significant developments in the cryptocurrency industry.
Peter Thiel on the future of Bitcoin
Peter Thiel, co-founder of PayPal (NASDAQ: PYPL) and early investor in Bitcoin, expressed a cautious outlook on the price of Bitcoin, suggesting that it may not increase drastically 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 as $137.2 Million in Inflows Surge
Spot Bitcoin ETFs have seen 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 US Securities and Exchange Commission (SEC) has filed a lawsuit against ConsenSys, alleging that the company engaged in unregistered brokerage activities related to MetaMask’s staking services. This legal action marks another significant regulatory challenge for the cryptocurrency industry.
Ripple’s Court Victory Leaves Questions
Ripple Labs recently won a legal victory, but the decision left some ambiguity about whether XRP should be classified as a security. This decision has significant implications for the regulatory treatment of cryptocurrencies in the US in the future.
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 incoming U.S. administration. The prospect of favorable regulatory changes under a new presidency has left investors optimistic about the future of crypto-friendly policies.
Bitcoin and Cryptocurrency Markets End Weak Quarter
The cryptocurrency market is wrapping up a lackluster quarter, with Bitcoin and other major cryptos experiencing stagnant or declining prices. Analysts suggest more pain may be in store as macroeconomic factors and regulatory pressures continue to weigh on the market.
Ethereum Could Hit $65K This Year
One analyst predicts that Ethereum could reach $65,000 by the end of 2024, driven largely by inflows into spot ETFs. This bullish forecast depends on continued strong interest and investment in Ethereum-based financial products.
Kraken co-founder donates $1 million to Trump
Kraken co-founder Jesse Powell has donated $1 million, mostly in Ether, to Donald Trump’s campaign. This significant contribution highlights the ongoing intersection between cryptocurrency and politics, with major players in the crypto space increasingly involved in political activities.
Read more cryptocurrency news on the TDR website!