Cryptocurrencies have come a long way in gaining acceptance and recognition as a legitimate form of currency and investment. The global cryptocurrency market cap was trading lower, falling to $1.19 trillion as it lost as much as 2 percent in the last 24 hours. Binance will be ceasing support for deposits and withdrawals of the following Multichain-bridged tokens via the networks stipulated from 2023-07-07 until further notice. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Bitcoin dipped about a percent but still managed to trade above the $30,500 mark, while Ethereum posted similar drops of 2 percent and hovered near the $1,950 level. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), Cardano (ADA), and Ripple (XRP)— landed in the red as overall prices saw mixed reactions across the board. The global cryptocurrency market cap was trading lower, falling to $1.19 trillion as it lost as much as 2 percent in the last 24 hours.
BlackRock CEO Larry Fink said Bitcoin is an "international asset" in an interview that comes just weeks after the world's largest asset manager applied to offer a spot in Bitcoin ETF.
In an interview with Fox Business, Fink added that instead of putting money into gold to hedge against inflation, investors could buy Bitcoin.
According to Larry, "The role of crypto is digitizing gold in many ways," he further added, "What we're trying to do with crypto is make it more democratized, and make it much cheaper for investors."
Binance will be ceasing support for deposits and withdrawals of the following Multichain-bridged tokens via the networks stipulated from 2023-07-07 until further notice. Deposits for multiple Multichain-bridged tokens were previously suspended on 2023-05-24 following the recent situation with the Multichain (MULTI) protocol.
In a July 5 update, Binance stated that its users would be unable to deposit or withdraw digital assets, including Travala, Alchemy Pay, Harvest Finance, Polkastarter, and others, across blockchain networks like Fantom (FTM), BNB Smart Chain, Ethereum (ETH), and Avalanche (AVAX).
Investigators at the Commodity Futures Trading Commission have concluded that bankrupt crypto lender Celsius Network and its former chief executive officer broke US rules before the firm's implosion, according to people familiar with the matter.
According to Bloomberg's report, If a majority of the CFTC's commissioners agree with that conclusion, the agency could file a case in federal court as soon as this month, said the people, who asked not to be identified discussing the confidential determination. Attorneys in the enforcement unit determined that Celsius misled investors and should have registered with the regulator and that former CEO Alex Mashinsky also broke regulations, said one of the people.
Danish bank Saxo has been ordered by Denmark's financial regulator to shed its crypto holdings, the authority announced on Wednesday.
Denmark's financial watchdog ordered Saxo Bank to dispose of its holdings of crypto assets, saying banks aren't allowed to conduct proprietary trading under current regulations.
"Saxo Bank A/S' trading in crypto assets for its account has taken place to cover risks in connection with the offering of other financial products," the statement said. "However, this does not change the fact that the activity, in itself, is not permitted for Danish financial institutions …"
In January 2022, the celebrity notoriously purchased Ape #3001 for 500 ETH, worth $1.3 million at the time. Today, that same collectible is worth just 29.95 WETH ($58,610) according to OpenSea. That's a 95% drawdown. Meanwhile, Ape #3850 – which Bieber bought for 166 ETH ($470,000) less than a week later, is now bidding for 30.06 WETH ($58,898.56).
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