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Cryptocurrency News Today – July 1, 2024
Welcome to Crypto News Today, your daily digest of the most important events in the cryptocurrency industry.
Peter Thiel on the Future of Bitcoin
Peter Thiel, co-founder of PayPal (NASDAQ: PYPL) and an early investor in Bitcoin, has expressed a cautious view on the price of Bitcoin, suggesting that it may not see a dramatic increase in the near future. Given his influential status, Thiel’s outlook could lead to more cautious investment strategies in the cryptocurrency market. To learn more, visit the TDR website!
Bitcoin Spot ETFs Rebound With $137.2M Inflows
Spot Bitcoin 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 for MetaMask Staking
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against ConsenSys, alleging that the company has been acting as an unregistered brokerage in connection with MetaMask’s staking services. This lawsuit marks another significant regulatory challenge for the cryptocurrency industry.
Ripple’s Court Victory Leaves One Perplexed
Ripple Labs recently won a legal victory, but the ruling left some ambiguity regarding XRP’s classification as a security. This decision has significant implications for the regulatory treatment of cryptocurrencies in the United States going forward.
Solana ETF Apps and Political Betting
Demand for Solana ETFs has increased, with many speculating that these 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 is wrapping up a lackluster quarter, with Bitcoin and other major cryptocurrencies experiencing stagnant or declining prices. Analysts suggest there could be more trouble in store, 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, driven largely 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 $1M to Trump
Kraken co-founder Jesse Powell has donated $1 million, mostly in Ether, to Donald Trump’s campaign. This significant contribution highlights the current intersection of cryptocurrency and politics, with major players in the crypto space increasingly engaging in political activities.
Read more cryptocurrency news on the TDR website!