Digital Assets Report 79
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Vitalik Buterin shares his vision of Ethereum and outlines the various stages of the network's development.
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Christie's plans investments into web3, blockchain with new venture fund and Skybridge Capital plans to launch a specific web3, crypto-focused fund.
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BNP Paribas partners with Metaco to offer crypto solutions.
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Bitcoin and Crypto markets stabilize after rallying last week.
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UK regulators to introduce rules for the use of stablecoins as payment tools.
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A former Coinbase employee was arrested and charged with wire fraud last Thursday. Both his brother and friend also face charges in relation to an insider trading scheme which earned them a profit of at least $1.5 million, according to law enforcement officials.
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In separate charges, the SEC claims that at least nine of the assets traded were securities.
Business
Ethereum Merge? Get Ready for the ‘Surge, Verge, Purge, and Splurge’, Says Vitalik Buterin - Decrypt
Ethereum’s only 40% complete. After the Ethereum merge, Vitalik Buterin says there will be many more phases, which all have rhyming names.
Kate Irwin
Christie’s launches venture fund, including for web3, blockchain - Ledger Insights - blockchain for enterprise
Christie’s have announced a new venture capital fund which will include web3 and blockchain ventures. The first is LayerZero Labs
French Banking Giant BNP Paribas Enters Crypto Custody Space: Sources
French Bank BNP Paribas (BNP.PA) is entering the crypto custody space via a partnership with Swiss digital asset safekeeping firm Metaco, according to three people with knowledge of the deal.
Scaramucci’s SkyBridge Planning New Fund for Web3, Crypto: Report
The news follows a report earlier this week that SkyBridge suspended withdrawals from another fund due to steep declines in stocks and cryptocurrencies.
Brandy Betz
Bitcoin Miner Core Scientific Gets $100M Equity Financing Despite Bear Market
The miner has the right but no obligation to sell the shares to investment bank B. Riley.
Aoyon Ashraf
Three Arrows Capital Founders Break Their Silence, Look to Move to Dubai: Report
The beleaguered duo discussed how one of the most successful crypto funds went from being a prominent trading desk to owing creditors $2.8 billion.
Oliver Knight
Trading Firm Susquehanna Plots Bahamas Crypto Expansion: Sources
Call it the “SBF Effect”: Crypto traders and market makers are opening outposts on FTX’s home island en masse.
Danny Nelson
Crypto Layoffs: OpenSea, Blockchain.com, Coinbase, Gemini Among Firms Forced to Make Mass Job Cuts
As a bear market sweeps the crypto industry, CoinDesk is keeping a running list of industry players that have been forced to cut back on staff.
CoinDesk Staff
Swiss Luxury Watchmaker Franck Muller Launches Exclusive Binance NFT Collection With Limited-Edition Timepieces – Press release Bitcoin News
PRESS RELEASE. Franck Muller, the world-famous Swiss luxury watchmaker, has announced the release of a series of digital wearables and physical watches on
Bitcoin.com Media
Genesis Files $1.2B Claim Against Three Arrows Capital
Genesis’s parent company, Digital Currency Group, has assumed some of Genesis’ liabilities in the case.
Oliver Knight
The Future is Now for Ethereum Scaling: Introducing Polygon zkEVM
https://blog.polygon.technology/the-future-is-now-for-ethereum-scaling-introducing-polygon-zkevm/
Markets
Crypto Charts 73
Bitcoin Last time we said: ’The acceleration higher we were expecting looks to be gaining some momentum this morning with the next target to the topside that will confirm wave (iii) is underway at $23′590. Place stops for half the position now at the wave (ii) low at $18′900 with
Tesla sells most of its bitcoin holdings
Tesla has sold 75% of its bitcoin holdings, adding $936 million in cash to its balance sheet.
Bitcoin Goes Through Largest Negative Mining Difficulty Adjustment in Over a Year
The metric has charted its longest-negative streak in about a year, but it could actually be expected.
Jordan Lyanchev
#Bitcoin is currently in the process of breaking above three long-term pricing models:
— glassnode (@glassnode) July 19, 2022
- Realized Price (average cost basis)
- Long-Term Holder RP (Cost basis of LTHs)
- 200-week Moving Average
Read more on #Bitcoin bottom formation 👇 https://t.co/jl67cj00sL pic.twitter.com/8JmCezqDQ9
Regulations
Former Coinbase manager charged with insider trading - The Cryptonomist
Ishan Wahi was arrested on an SEC warrant jointly with the Southern District of New York
George Michael Belardinelli
UK Regulators to Introduce Rules for Stablecoins in New Markets Bill
The much-anticipated financial services and markets bill to be presented to Parliament includes rules for the use of stablecoins as a means of payment.
Sandali Handagama
Dutch Central Bank Imposes $3.3 Million Fine on Crypto Exchange Binance - Decrypt
The Dutch regulator has fined crypto exchange Binance $3.35 million for offering services without being registered in the Netherlands.
Andrew Asmakov
‘Token will defeat cryptocurrency’: Russia debuts palladium-backed stablecoin
The Russian government-backed tokenization platform Atomyze has issued its first digital asset backed by palladium in collaboration with the local bank Rosbank.
Helen Partz
Andorra green lights Bitcoin and blockchain with Digital Assets Act
Andorra’s Digital Assets Act could usher in a new wave of investments and economic diversification for the tiny principality.
Joseph Hall
Opinions
Pro Bitcoin traders are uncomfortable with bullish positions
Bitcoin’s recent rally has many hopeful that the worst is behind us. But traders are less certain that the least resistant path is higher.
Marcel Pechman
‘A Damaged Brand’: Former Celsius Employee on the Crypto Lender’s Mismanagement and Alleged Token Manipulation
Timothy Cradle, former compliance and financial crimes director at crypto lender Celsius Network, joined CoinDesk TV’s “First Mover” to discuss the platform’s alleged questionable practices.
Fran Velasquez
Readings / Podcasts
The Proof Of Work Behind Proof-Of-Work — Bitcoin Mining Profitability Doesn’t Come Easy
Bitcoin mining is an incredibly difficult industry to start out in and all of its complexities may be lost on those unaware.
Kaboomracks Alex
Takeovers, trading, and tokens: SBF’s crypto empire unraveled
Billionaire Sam Bankman-Fried has woven a web of influence across his crypto empire. Here are some of his most interesting holdings.
Aaron Wise