Author: John Smith

Bitcoin investors have entered an average unrealized loss of about 20%, while a key on-chain cost basis indicator has climbed to roughly $76,700, creating a resistance level that analysts say is weighing on the market. Summary CryptoQuant’s Darkfost says active Bitcoin investors are sitting on an average unrealized loss of about 20%. Bitcoin’s True Market Mean near $76,700 has emerged as a key resistance level based on active holder cost basis. Despite ETF inflow concerns, the analyst says Bitcoin may recover before reaching past bear-market valuation extremes. According to CryptoQuant analyst Darkfost, Bitcoin’s True Market Mean (TMM) currently stands near…

French police have arrested two suspected fraudsters accused of stealing about $1.8 million in cryptoassets from a wealthy couple during a fake villa sale after a year-long investigation. Summary French police arrested a mother and son accused of stealing €1.5 million in crypto during a fake villa sale. Investigators allege the suspects used hidden camera glasses to capture wallet credentials and drain the victims’ funds. The case comes as France reports a continued rise in crypto-related crimes, including kidnappings and extortion. According to French newspaper Var-Matin, French police from the Gassin–Saint-Tropez gendarmerie arrested a mother and her son on June…

Germany’s cooperative banking network has begun offering cryptocurrency trading through DZ Bank, opening digital asset access to millions of retail customers across the country. Summary DZ Bank has started rolling out crypto trading through Germany’s cooperative banking network. DekaBank plans a phased crypto trading launch for the country’s savings banks later this year. Germany is also considering new crypto tax rules that could end long-term tax exemptions from 2027. According to a Bloomberg report, the rollout gives customers of participating cooperative banks the ability to buy and sell cryptocurrencies directly through their existing banking relationships rather than using dedicated crypto…

U.S. spot Bitcoin exchange-traded funds have recorded $221.7 million in net inflows, ending a 10-day withdrawal streak as softer U.S. economic data and easing Federal Reserve rate concerns helped Bitcoin recover from this week’s lows. Summary U.S. spot Bitcoin ETFs recorded $221.7 million in inflows, ending a 10-day streak of net withdrawals. Weak U.S. jobs data and softer Fed comments helped Bitcoin rebound about 7.7% from its weekly low. Analysts pointed to strong historical July performance and late-cycle trends as sentiment improved. According to data from SoSoValue, Thursday’s inflows were the strongest daily total in about two months after investors…

The Major County Sheriffs of America has withdrawn its opposition to the decentralized finance provision in the CLARITY Act, easing one of the main law enforcement concerns surrounding the proposed U.S. crypto market structure bill. Summary Major County Sheriffs of America has dropped its opposition to the CLARITY Act’s DeFi provision and adopted a neutral stance. The group proposed amendments giving state and local law enforcement a formal role in Treasury studies and advisory bodies. Senate momentum has improved, with updated timelines and rising passage odds boosting expectations for the CLARITY Act. According to a letter sent by the Major…

Gnosis Pay has revealed that a software flaw dating back to October 2023 enabled the $1.5 million exploit of its card safe infrastructure, while confirming that all affected users have been fully reimbursed. Summary Gnosis Pay traced its $1.5 million hack to a Zodiac software flaw that had existed since October 2023. The company reimbursed all affected users, restored services within days, and continues recovering about $300,000. The incident adds to growing scrutiny of crypto security as firms and governments respond to rising cyber threats. According to a postmortem published by Gnosis Pay on Friday, the vulnerability was traced to…

South Korean crypto exchange Upbit has rejected claims that it is participating in the issuance of Open USD after being listed among more than 140 organizations associated with the proposed stablecoin. Summary Upbit says it is not participating in Open USD issuance despite Dunamu being listed by Open Standard. Samsung, Shinhan, and K-Bank have also said they have not formally agreed to join the stablecoin initiative. Unfinished South Korean stablecoin rules continue to delay firm commitments from potential participants. According to a statement issued by Upbit, the exchange has not agreed to issue or help launch the dollar-backed stablecoin, despite…

Shielded Labs has raised the possibility of delaying Zcash’s Ironwood network upgrade, citing readiness concerns among exchanges, mining pools and wallet providers ahead of the planned late July activation. Summary Shielded Labs says Zcash’s Ironwood upgrade may be delayed as ecosystem participants need more preparation time. Exchanges, wallets and mining pools are simultaneously migrating from zcashd to the new Z3 software stack. Ironwood is designed to secure Zcash’s shielded supply after the Orchard “infinity” bug was disclosed. According to a July 3 X post on the Zcash community forum by Shielded Labs executive director Jason McGee, the network is attempting…

Robinhood has emerged as a key platform in the rollout of the Trump Accounts program, with U.S. Treasury-backed child investment accounts scheduled to begin transfers ahead of the initiative’s July 4 launch. Summary Robinhood is expected to help roll out the Trump Accounts program ahead of its July 4 launch. Eligible children will receive a $1,000 government contribution, with annual private contributions capped at $5,000. Trump also floated a possible SpaceX stock donation, though neither Elon Musk nor SpaceX has confirmed any plans. According to information surrounding the program, Robinhood is expected to help facilitate the new accounts, which are…

Europe’s securities regulator has warned that prediction market contracts offered in the European Union could already fall under existing financial rules, potentially triggering a long-standing retail ban on binary options. Summary ESMA says some prediction market contracts may already fall under MiFID II financial rules. Existing EU binary options restrictions could apply automatically if contracts qualify as financial instruments. The guidance follows mounting regulatory scrutiny of Polymarket and other prediction market platforms across Europe. According to the European Securities and Markets Authority (ESMA), firms offering event-based contracts in the European Union must assess whether those products qualify as financial instruments…