Regulation
Crypto News Today – July 1, 2024
Welcome to “Crypto News Today,” your daily digest of important events in the crypto industry.
Peter Thiel on the Future of Bitcoin
Peter Thiel, co-founder of PayPal (NASDAQ: PYPL) and early Bitcoin investor, has expressed a cautious view on the price of Bitcoin, suggesting that it may not rise dramatically in the near future. Thiel’s outlook, given his influential status, could lead to more cautious investment strategies in the cryptocurrency market. Read all about it on the TDR website!
Bitcoin ETFs Rebound with $137.2 Million Surge
Bitcoin Spot 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 U.S. 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. The lawsuit marks another significant regulatory challenge for the crypto industry.
Ripple’s legal victory leaves questions
Ripple Labs recently won a legal victory, but the decision left some ambiguity over whether XRP should be classified as a security. The decision has significant implications for the regulatory treatment of cryptocurrencies in the United States.
Solana ETF Applications and Political Betting
Applications for Solana ETF listings have exploded, with many speculating that the 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 cryptocurrency markets close weak quarter
The cryptocurrency market ended a mixed quarter, with Bitcoin and other major cryptocurrencies posting stagnant or declining prices. Analysts suggest further headwinds could lie ahead as macroeconomic factors and regulatory pressures continue to weigh on the market.
Ethereum Could Hit $65,000 This Year
One analyst predicts that Ethereum could hit $65,000 by the end of 2024, largely driven by inflows into spot ETFs. This optimistic forecast is based 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. The significant contribution highlights the current intersection between cryptocurrency and politics, with major players in the crypto space increasingly engaging in political activities.
Read more cryptocurrency news on the TDR website!