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Ex-Celsius CEO Alex Mashinsky Forfeits Claims in Bankruptcy Case

  • Ex-Celsius CEO Alex Mashinsky and related entities forfeit claims in bankruptcy case.
  • Documents confirm exclusion of Mashinsky and affiliated entities from future distributions under bankruptcy plan.
  • All claims by Mashinsky, AM Ventures Holdings Inc., Koala1 LLC, and Koala3 LLC withdrawn and disallowed.
  • Legal resolution follows investigations and litigation related to Celsius Network's collapse in July 2022.
  • Assets freed through forfeiture to be reallocated to impacted customers and creditors for restitution.
  • Mashinsky has faced civil and criminal probes tied to Celsius' operations.
  • Latest development marks a significant step in severing Mashinsky's financial interest from the company's estate.

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Ethereum Drops 4% in the Last 24 Hours: What Could Drive the Next Move?

  • Ethereum has dropped 4% in the last 24 hours, with potential drivers for its next move being network upgrades, institutional trends, and technical outlook.
  • Network upgrades such as the Pectra upgrade and the upcoming Fusaka hard fork targeting Layer-1 scaling are expected to play a role in Ethereum's market share recovery.
  • Ethereum's Proof-of-Stake mechanism provides a support system as staking yields increase with ETH price declines.
  • Institutional trends, including ETH ETF inflows and the potential approval of staking-enabled ETFs, could affect ETH supply and demand.
  • Concerns remain about whale holdings controlling a significant portion of ETH supply, posing volatility risks.
  • Global liquidity trends, influenced by U.S. monetary policy shifts, may impact Ethereum's price direction.
  • Technically, Ethereum is trading below key moving averages, indicating near-term weakness, but oversold conditions and support levels suggest potential bullish momentum.
  • Rising transaction fees in May point to increased network demand and usage.
  • Ethereum's short-term dip reflects macro uncertainty and internal network changes, with potential for renewed strength as upgrades and ETF developments progress.
  • Volatility is expected to persist due to whale concentration and external factors like Fed policy.
  • Overall, Ethereum's next move will be influenced by a complex interplay of technical, institutional, and macroeconomic factors.

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BlockDAG Combines DAG Speed with PoW Security, Raising $315M Ahead of Mainnet Launch

  • BlockDAG combines DAG structure with proof-of-work for improved scalability and security.
  • Unlike traditional blockchains, DAGs allow multiple transactions to be confirmed simultaneously.
  • BlockDAG maintains the fast performance of DAGs while integrating PoW for security.
  • The project supports Ethereum tools, making it easier for developers to adopt.
  • Over $315 million raised in presale with over 23 billion BDAG coins sold, targeting a high ROI.
  • The project focuses on real-world adoption, aiming to support over 1,000 dApps by 2026.
  • A structured roadmap outlines the steps leading to mainnet and exchange listing.
  • Developer engagement, DeFi support, mobile mining scaling, and data feed integration are key priorities.
  • The project takes a unique approach in the Layer 1 race by focusing on real development before launch.
  • BlockDAG's hybrid design and focus on attracting users and developers set it apart in the blockchain space.

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Coinbase Secures EU License: A Game-Changer for Crypto Services in Europe

  • Coinbase secures a crypto regulatory license under the EU's Markets in Crypto-Assets (MiCA) framework via Luxembourg's financial regulator.
  • The license enables Coinbase to offer crypto services across all EU and EEA countries with 'passporting' rights.
  • Coinbase strategically selects Luxembourg for its regulatory environment and financial hub status.
  • Luxembourg's implementation of MiCA positions it as a leader in regulatory clarity and efficiency.
  • Coinbase can now provide its services across Europe without the need for local licenses, enhancing institutional confidence.
  • Some EU policymakers express concerns about regulatory discrepancies among countries like Luxembourg, but Coinbase's compliance record may set industry standards.
  • Coinbase's EU expansion is expected to lead to tailored services for European markets, broader crypto adoption, and influence on MiCA implementation.
  • This move highlights the contrast between Europe's pro-innovation regulatory stance and a more uncertain and enforcement-focused U.S. approach.

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America Emerges as the Global Bitcoin Superpower: $790B in Holdings, 40% of Supply

  • An estimated 40% of all Bitcoin is held by American individuals and institutions, totaling around $790 billion in value.
  • U.S.-based companies possess 94.8% of all BTC owned by public firms, showcasing significant corporate engagement in the cryptocurrency market.
  • The U.S. dominates with 82% of Bitcoin development funding, 70% of venture capital funding, and 79.2% ownership of all Bitcoin ETFs.
  • Noteworthy American Bitcoin holders range from top universities like Yale and Stanford to insurance giants and hedge funds.
  • Over 20,000 Americans work for 150+ Bitcoin-centric companies, covering mining, software, custody, and financial services.
  • The U.S. leads in Bitcoin mining infrastructure, with $30 billion invested in mining since 2021 and over 40 high-capacity mining sites nationwide.
  • This mining expansion is fueled by institutional demand and favorable regulatory conditions in the U.S. compared to other regions.
  • The U.S. government holds 198,000 BTC, surpassing other countries like the U.K., China, and even Bitcoin-friendly El Salvador in national Bitcoin reserves.
  • Despite controlling 36% of the global Bitcoin hashrate, the U.S. remains a dominant force in shaping Bitcoin adoption and infrastructure worldwide.

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How Trump’s ‘Beautiful Bill’ Is Boosting Bitcoin’s Appeal

  • The bill covering military, infrastructure, and tax breaks is stimulating economic growth but raising concerns over debt, leading to interest in Bitcoin and decentralized assets.
  • Investors view Bitcoin as a hedge against monetary dilution amidst debates on the bill's impact on the federal deficit.
  • Bitcoin's scarcity narrative gains relevance with trillion-dollar spending plans and long-term inflation worries.
  • Tokens focused on privacy, decentralization, and financial independence like Monero and MakerDAO are gaining attention.
  • Algorithmic stablecoins and politically-themed meme coins are also being reconsidered amidst fiat skepticism.
  • Speculation suggests the bill might simplify tax rules for digital assets, offering potential benefits for crypto traders.
  • Market sentiment around crypto is tied to the bill's fiscal outcomes as the Senate approaches a July deadline.
  • Bitcoin and decentralized assets could see further gains if deficit spending concerns increase.
  • Capital inflows into the crypto space may rise if crypto-specific regulations support user adoption.
  • The bill's potential impact on debt and economic growth is shaping interest in Bitcoin and alternative assets.
  • Scarcity narrative of Bitcoin resonates with investors amidst extensive government spending plans.
  • Interest grows in tokens emphasizing financial freedom and decentralization like Monero and MakerDAO.
  • Consideration extends to stablecoins and meme coins amid growing skepticism towards fiat currencies.
  • Speculation suggests potential tax simplifications for crypto under the bill, offering some advantages for traders.
  • Market response to the bill's fiscal policies will likely impact cryptocurrency sentiment.
  • Bitcoin and decentralized assets could see increased interest depending on fiscal policy outcomes.
  • Increased capital flow into crypto may occur if regulations favor user adoption.
  • Overall, the bill's effects on debt and the economy are influencing the attractiveness of Bitcoin and other assets.

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GENIUS Act Sparks Market Optimism, but Stablecoin Bill Faces Scrutiny

  • The GENIUS Act, a bill awaiting approval in the House, proposes guidelines for stablecoins to be fully backed by US dollars and monitored by financial authorities.
  • Market response to the bill was positive, boosting confidence in stablecoin issuers like Circle and its partner Coinbase, leading to increased optimism in the crypto sector.
  • Social trend data from Santiment indicates bullish sentiments towards the GENIUS Act, with expectations for regulatory clarity and institutional crypto participation.
  • Despite the optimism, some critics raise concerns about potential political favoritism in the bill, suggesting advantages for well-connected individuals and centralized projects.
  • Market dynamics hint at a 'buy the rumor, sell the news' scenario as price gains happened before the Senate vote, leading to uncertainty about future price movements.
  • The GENIUS Act might shape U.S. crypto legislation and stablecoin adoption, but debates persist on whether it will promote a fair financial environment or reinforce insider privilege.

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Pump.fun token auction delayed again amid legal pressure, social media ban

  • Solana-based memecoin launchpad Pump.fun has delayed its public token auction to mid-July from the original June 25 date due to legal uncertainties and social media bans.
  • The planned raise targeting $1 billion at a $4 billion valuation has been postponed multiple times since planning began in 2024, with the latest delay coinciding with mounting legal challenges.
  • Pump.fun faces a class action lawsuit alleging securities violations and price manipulation, along with criticism for enabling tokens that infringe on copyrights.
  • The platform's delays and lack of transparency regarding legal issues are raising concerns among investors, affecting the billion-dollar fundraising goal.
  • Social media platform X suspended Pump.fun and founder's accounts on June 16, adding to the project's setbacks and raising questions about potential enforcement actions.
  • The temporary ban disrupted the platform's communication during a crucial period and compounded the existing uncertainty surrounding the public auction.
  • Crypto journalist Colin Wu reported that Pump.fun's token sale is now expected in mid-July, with no firm date confirmed yet, as the project aims to raise $1 billion at a $4 billion valuation despite ongoing legal and operational challenges.

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Pi Network Surges Past 13M Mainnet Users in First 100 Days

  • Pi Network surpasses 13 million mainnet users in its first 100 days, following six years of development.
  • The Open Network launch enables connectivity between Pi and the broader blockchain landscape, facilitating various use cases.
  • Pi Network Ventures introduces a $100 million fund to support startups emphasizing utility, accessibility, and real-world application.
  • FruityPi, a Pi-integrated fruit-matching game, highlights the ecosystem's entertainment applications.
  • PiFest demonstrated real-time Pi-based transactions with over 125,000 registered sellers and significant community engagement.
  • .pi Domains allow users to claim unique digital identities within the Pi ecosystem, with over 69,000 domains having active bids.
  • Enhancements to the Mainnet Ecosystem Interface include direct app submissions, improved user interface design, and Pi Ad Network expansion.
  • The network boasts 13 million+ users, 7.4 billion Pi migrated, and 400,000+ active nodes across Mainnet and testnets.
  • Security and accessibility updates include 2FA for Pi Wallet migrations and new wallet activation pathways.
  • The first 100 days set a strong foundation for Pi Network's global adoption and utility-based crypto ecosystem.
  • Future focuses include expanding use cases, enhancing security, and increasing network participation.

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Crypto Markets React Cautiously to Fed Pause as U.S. Policy Takes Center Stage

  • Federal Reserve decisions and Congressional actions are heavily impacting digital asset markets.
  • Federal Reserve Chair confirmed interest rate stay, signaling a wait-and-see approach on inflation.
  • Crypto markets reacted calmly to the expected rate decision, with stable Bitcoin and Ethereum prices.
  • Lack of dovish language left some traders wanting more in terms of future rate cut signals.
  • Altcoins like Solana and Tron are more reactive to macroeconomic shifts compared to BTC and ETH.
  • Altcoins might benefit from any future dovish policy changes, especially if inflation reduces.
  • Investors are currently in a 'Sell the Rumor, Buy the News' mentality according to Santiment.
  • Powell's neutral stance led to no sell-off, but traders remain vigilant for signs of Fed policy shifts.
  • Market fatigue could set in if monetary tightening continues without a clear exit strategy.
  • A credible indication of future rate cuts could spark a rally in risk-on assets in the crypto space.

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Solana: Why The Price Is Dropping Today?

  • The drop in Solana's price today is attributed to broader weakness in altcoins due to geopolitical tensions and technical signals converging to impact price action.
  • Geopolitical tensions, particularly related to Israel-Iran conflict, triggered a market-wide selloff leading to a $240 billion drop in total crypto market capitalization in a single day.
  • Solana mirrored the overall decline, with $503 million in total crypto liquidations, including significant liquidations from Ethereum.
  • Historically, altcoins like Solana usually underperform during geopolitical crises as investors seek stability in assets like Bitcoin or exit risk markets entirely.
  • Technically, Solana faced resistance at the $147–$155 range, failed to reclaim its 50-day SMA, and encountered a key resistance level at $147.38, leading to a breakdown with bearish momentum confirmed by indicators.
  • The next support level to watch for Solana is the June 20 swing low at $136.51, with a potential further decline towards $130 if this level is breached.
  • Solana's drop is also indicative of broader altcoin weakness as Bitcoin dominance has increased to 64.24%, and the Altcoin Season Index signals a shift towards 'Bitcoin Season.'
  • Despite positive news such as Solana's involvement in Wyoming's WYST stablecoin project, macro factors continue to drive market sentiment, with Solana's correlation to Bitcoin at 0.89, making it susceptible to Bitcoin-led movements.
  • In conclusion, Solana's price decline today can be attributed to geopolitical unrest, bearish technical indicators, and a market rotation favoring Bitcoin over altcoins, suggesting further downside risks unless sentiment and technicals improve.

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Ethereum Smart Trader Nets $20M in Under a Month With Flawless Strategy

  • A smart trader using Ethereum has earned $20 million in under a month with a flawless strategy, as per data from Lookonchain.
  • The trader consistently bought ETH near local bottoms, closed positions before sharp declines, and re-entered with short positions at the top, showcasing exceptional timing and execution.
  • The trader's unrealized profits initially reached $12 million, but continued holding the position, leading to a surge in gains to over $14.8 million after a drop in Ethereum's price.
  • The total gains from the trader's Ethereum moves have now exceeded $20 million, attracting attention and admiration on social media.
  • Analysts suggest monitoring wallets like 0xcB92 for insights into market timing strategies executed with precision.

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Will IOTA Drop 25% or Bounce Back Strong?

  • IOTA price is currently trading at $0.1608, near a major support zone, after a consistent decline.
  • Technical indicators suggest a potential bounce as the Relative Strength Index (RSI) hints at nearing oversold territory.
  • Key support zones for IOTA are at $0.1600, $0.1450, and $0.1200, with a potential 9.8% to 25.38% downside.
  • Resistance levels are at $0.1800, $0.2000, and $0.2150, with a possible 24.4% gain if momentum shifts.
  • The chart displays a bearish trend with no strong bullish signals yet, indicating a downward trajectory.
  • Potential scenarios include a drop to $0.1450 or $0.1200 in the bearish case and a bounce towards $0.1800 or $0.2000 in the bullish case.
  • Traders are advised to monitor the $0.1600 level closely for further market direction.

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Tron, Tether, and Dogecoin Lead Crypto Buzz as Market Sentiment Shifts

  • Tron is gaining attention for its role in stablecoin transactions, low-cost transactions, and growing ecosystem, surpassing Dogecoin in market cap.
  • Tether remains significant in crypto trading, providing liquidity and supporting cross-token transactions.
  • Dogecoin is under debate for its unlimited supply, price volatility, and potential integration with Elon Musk’s X platform.
  • Bitcoin continues to be valued for its scarcity, volatility, and investment potential, remaining a benchmark in the market.
  • Nexo is engaging its community amid regulatory changes, particularly focusing on stablecoin interest payments.
  • Polkadot's resilience, ecosystem growth, and community sentiment are notable topics amid market discussions.

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Ethereum Developers Launch Web3SOC to Standardize Security and Compliance in DeFi

  • Ethereum developers have launched Web3SOC to standardize security and compliance in DeFi.
  • Contributions from top teams like Uniswap Labs, Morpho, Maple Finance, Kiln, and Steakhouse Financial, along with cybersecurity firms Cantina and Secureum.
  • Web3SOC offers a structured classification framework for Web3 applications to improve transparency, security, and collaborative governance.
  • The goal is to provide financial institutions and DeFi projects with a shared methodology to assess security practices and ensure operational compliance.
  • Web3SOC functions as a standardized reference for best practices in smart contract development, protocol risk mitigation, and governance processes.
  • It could become a foundational layer for evaluating the readiness and reliability of decentralized applications, especially as traditional finance explores blockchain integration.
  • The framework received contributions from institutional investors and stakeholders, underlining the need for security transparency in DeFi.
  • Web3SOC aims to address the risks posed by exploits and governance issues in the DeFi sector, enhancing trust from users and institutions.
  • The launch of Web3SOC signifies a move towards professionalizing DeFi infrastructure, making it more accessible and trustworthy for larger capital allocators and regulators.

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