The SEC has stopped investigating the status of Ethereum, MicroStrategy has bought 11,931 BTC, Notcoin will abandon the idea of a clicker game, Winklevoss donated $2 million in bitcoins to Trump and other events of the past week.
The price of bitcoin dropped to $64,000
The first cryptocurrency started the week above $66,000, but on Monday, June 17, it fell to $65,000. On Friday, June 21, digital gold broke the $64,000 level.
At the time of writing, bitcoin is trading at $64,100.
The BTC/USDT hourly chart of the Binance exchange. Data: TradingView.All digital assets from the top 10 by capitalization ended the week in the "red zone". Dogecoin (-10.4%) and Solana (-11.4%) lost the most.
Data: CoinGecko.The total capitalization of the cryptocurrency market is $2.45 trillion. The Bitcoin dominance index is 55.4%.
The SEC has stopped investigating the status of Ethereum
The Enforcement Division of the U.S. Securities and Exchange Commission (SEC) has closed an investigation into Ethereum 2.0, ConsenSys said in a statement.
The SEC took this step after the organization sent a letter asking for clarification of the asset class when approving spot ETH-ETFs.
The corresponding appeal on behalf of ConsenSys was received on June 7. In it, her staff asked the regulator to confirm that the registration of applications for the 19b-4 product was based on the premise that the asset belongs to the category of exchange-traded goods, and, therefore, the agency will close the investigation.
"Ethereum has survived the SEC. In other words, the agency will not make accusations that ether sales are securities transactions," ConsenSys wrote.On April 26, the organization filed a lawsuit against the Commission and its five unnamed employees due to the "regulation of ETH." In it, she called on the court to officially approve the wording in which the asset would not be considered a security.
ConsenSys has announced its intention to achieve greater regulatory clarity regarding cryptocurrencies. To do this, the organization will continue to fight the SEC in court.
MicroStrategy has bought 11,931 BTC and issued shares worth $800 million
MicroStrategy acquired an additional 11,931 BTC for $785 million (~$65,883 per coin), using revenue from convertible banknotes and excess cash.
In total, the firm now holds 226,331 BTC, acquired for about $8.33 billion. At the time of writing, these assets are estimated at $14.5 billion.
At the same time, MicroStrategy founder Michael Saylor announced the sale of convertible bonds with a yield of 2.25% maturing in 2032. The total value of the securities sold amounted to $800 million.
What should I discuss with my friends?
Binance has announced airdrops for BNB holders.Nvidia has become the most expensive company in the world.The LayerZero project has started the airdrop of the ZRO token.Marathon will warm 11,000 Finnish residents by mining bitcoin.Notcoin will abandon the idea of a clicker game
The developers of the Notcoin gaming Web3 project want to move away from the idea of a clicker to create a more stable model. This was told by the creator of the game, Alexander Plotvinov.
According to him, "tapalki" will not have long-term success among users and do not contribute to attracting income.
"I don't think it will last forever. From my point of view, only games with stable models will survive," Plotvinov said.In the next four years, the developers plan to turn Notcoin into an independent launch center for third-party ecosystem projects, through interaction with which users will be able to earn NOT tokens. The number of such campaigns will reach 50-100 per week.
"This is similar to farming, but not to provide liquidity, but to provide your time and attention. This model allows us to be sustainable, as we do not need to issue new coins," said the founder of Notcoin.Other possible directions for the development of the application include contests and other means of stimulating participants, gaming platforms, or even a decentralized AI-based university.
Winklevoss donated $2 million in bitcoins to Trump
In the United States, support for Donald Trump is gaining momentum, who bet on cryptocurrencies before his rival, incumbent President Joe Biden. While the former receives millions of donations from industry participants, the latter is trying to change the situation in his favor.
On June 20, the co-founders of the Gemini bitcoin exchange, Tyler and Cameron Winklevoss, announced their support for Trump and donated $1 million in bitcoins to him (15.47 BTC at the time of the transaction).
They also criticized the Biden administration for an "open war" against the crypto industry. According to them, the SEC "has not developed any rules for the industry that would help any of its participants understand how to navigate the regulatory framework for this new asset paradigm."
Winklevoss called Trump a supporter of bitcoin, cryptocurrencies and businesses that will end the Biden administration's war on digital assets.
According to a Bloomberg source, the Gemini co—founders were refunded part of the funds, as their donations exceeded $844,600 - the maximum amount that the Trump committee can accept from one person.
Also on ForkLog:
Bug hunters withdrew $3 million from Kraken due to an "extremely critical" vulnerability.Hashdex has offered a "dual" ETF for Bitcoin and Ethereum.Binance has added support for USDT on the TON network.Trading in the ZK token started at $0.25.CEO of Binance predicted Bitcoin's growth to be "much higher" than $80,000 by the end of the year
The head of the Binance cryptocurrency exchange, Richard Teng, expressed the opinion that by the end of 2024, the price of the first cryptocurrency will overcome the level of $ 80,000.
According to the top manager, next year will be better for digital assets than the current one, due to the improvement of the macroeconomic environment.
Teng also noted that the approval of bitcoin ETFs and the upcoming launches of similar Ethereum-based funds will attract additional liquidity to the cryptocurrency market, contributing to the development of a bullish phase.
In his opinion, at the end of this year, the Fed's monetary policy can be expected to ease, which will create a favorable macroeconomic environment and a more reasonable interest rate policy. This will lead to a further increase in cryptocurrency prices in 2025, the CEO of Binance noted.
"So, my baseline forecast for the end of 2024 was $80,000... But what I did not foresee was a strong and steady inflow of funds from institutions after the launch of the bitcoin ETF. I did not expect that the new structures would be approved so quickly, at the beginning of the year. I predict the approval of funds [based on Ethereum], perhaps towards the end of 2024 or in 2025," the top manager shared his thoughts.Teng did not specify the new projected value of bitcoin. But, according to him, it is significantly higher than his initial estimate.
What else should I read?
This week, ForkLog explained what DYOR is and why it is so important for crypto investors, as well as what Schnorr signatures are and how they are used in bitcoin.
https://forklog.com/exclusive/spavshij-100-let-kit-perevel-vse-bitkoiny-mira-na-ftx-kriticheskij-vzglyad-na-onchejn-analitikuThe traditional digest contains the main events of the week in the field of cybersecurity.
The most important news from the participants of the crypto industry was published in a separate digest.