Welcome to the Bitcoin Street Journal Bitcoin
Market Update podcast, your daily source for
live updates on the Bitcoin market. Join us as
we delve into current Bitcoin technical analysis,
track Bitcoin BTC prices, explore market capitalization
trends, and analyze market supply. Stay ahead
of the curve with our comprehensive coverage
of the ever -evolving world of Bitcoin. In today's
episode, we'll cover topics such as Bitcoin ETF
simplifying trading, Lacoste rewarding NFT holders,
Binance losing a banking partner. Damus remaining
on Apple. Bitcoin friendly social app. Germany
rejecting Binance. Candy Digital laying off employees.
Polygon 2 .0 unifying liquidity. Rumble Racing
Star game preview. Canadian lawmakers supporting
crypto. Fidelity refiling Bitcoin ETF. CSGO banning
accounts. An AI chatbot startup valued at $4
billion. Yuga's HV MTL Forge game guide. Coinbase's
Layer 2 network prepping for launch. Steam rejecting
AI generated games. and typeface being valued
at $1 billion. Furthermore, we'll also discuss
CME Group launching Ethereum to Bitcoin futures,
Sodexo releasing NFTs for employees, FTT soaring
on FTX Revival Idea, MasterCard building an Ethereum
-based app store, and the market drop of Ripple
and Cardano. Lastly, we'll touch on Binance users
having to provide new banking details. A Bitcoin
ETF, or exchange traded fund, is what everyone
in the financial world seems to be talking about
these days. But what exactly is it? And why are
major players like BlackRock and Fidelity so
interested in it? Well, let's break it down.
Essentially, a Bitcoin ETF is a way for investors
to trade the price of Bitcoin on traditional
stock markets. This is a big deal because it
creates a legally compliant and easily accessible
avenue for individuals and institutional investors
to get exposure to the cryptocurrency. No longer
will they have to deal with the complexities
of buying and storing Bitcoin themselves. Instead,
they can simply buy shares of the ETF and track
the price of Bitcoin. This is particularly attractive
to institutional investors like BlackRock and
Fidelity, who may have strict compliance requirements
and risk management protocols. By investing in
a Bitcoin ETF, they can get exposure to the potential
upside of Bitcoin without having to directly
hold the cryptocurrency. But it's not just the
big financial institutions that are interested
in Bitcoin ETFs. We're also seeing companies
from other industries exploring the potential
of this new investment vehicle. Take Lacoste,
for example. The fashion brand has revealed a
gamified and tokenized ecosystem for NFT holders
called UNDW3. This program rewards engaged users
with rarity -related NFT perks that Lacoste claims
will increase the value of their digital assets.
This demonstrates how companies see the value
and potential of incorporating cryptocurrencies
and blockchain technology into their business
models. On the other side of the spectrum, we
have Binance, the world's largest crypto exchange,
facing challenges in Europe. Binance's European
banking partner, PaySafe Payment Solutions, will
terminate support for the exchange in September.
This is significant because it highlights the
regulatory hurdles that crypto companies like
Binance are facing. Despite Binance's commitment
to working with regulators, Germany's Bayfin
recently rejected its application for a crypto
custody license. The company maintains its dedication
to compliance, but it remains to be seen how
these regulatory challenges will play out. In
the midst of all this, it's interesting to note
how the Apple App Store is involved in the world
of cryptocurrencies. Damus, a Bitcoin -friendly
social media app, recently won a reprieve in
its battle to remain on the App Store. However,
it came at the cost of removing a core feature
from the app. This highlights the complex relationship
between tech giants like Apple and the growing
crypto industry. As these industries continue
to intersect, we can expect more discussions
and debates around regulatory frameworks and
the future of digital currencies. Moving beyond
Bitcoin, we have Polygon 2 .0 aiming to provide
unified liquidity across Ethereum scaling networks.
The company claims that this upgrade will better
connect separate blockchains and eliminate the
need for wrapped tokens. This is a notable development
in the ongoing quest for scalability and interoperability
within the Ethereum ecosystem. And speaking of
developments, let's not forget about the exciting
world of NFTs. Decrypt's Kate Irwin recently
shared a first look at Dilab's upcoming lawnmower
racing game called Rumble Racing Star. What makes
this game unique is its integration of NFTs.
Players can expect a large cast of quirky characters
from various NFT projects like Bored Ape Yacht
Club and Pudgy Penguins. It's another example
of how NFTs are infiltrating different industries
and capturing the imagination of both collectors
and gamers. While NFTs continue to make waves,
Canadian lawmakers are hoping to help blockchain
businesses flourish. They recognize that Canada
has fallen behind the US and Europe in terms
of establishing crypto regulations and want to
bridge that gap. It's a positive sign that governments
are starting to pay attention to the potential
benefits of blockchain technology and cryptocurrencies.
In the gaming world, we have another interesting
connection between NFTs and traditional gaming
platforms. CS .io, a popular online game, recently
banned accounts that were tied to at least $2
million worth of in -game assets known as skins.
This raises questions about ownership and control
within centralized gaming platforms. Could NFTs
offer a solution by allowing players more ownership
and control over their in -game items? It's certainly
a topic worth exploring. And as we dive deeper
into the world of AI, we have a startup called
Rockets that has skyrocketed to a $4 billion
valuation. With backing from industry giants
like Microsoft and Nvidia, Rockets aims to revolutionize
the chatbot market. Its AI -powered chatbot promises
to provide more natural and intuitive conversations,
backed by the expertise of notable tech figures
like Bill Gates and Eric Schmidt. Finally, we
have Typeface, a generative AI startup that recently
achieved a $1 billion valuation. With support
from Salesforce and Google, Typeface offers a
platform for businesses to create generative
content. This is another example of how AI is
pushing boundaries and disrupting traditional
industries. And that's just a taste of what's
been happening in the world of cryptocurrencies,
NFTs, gaming, and AI. It's an exciting and rapidly
evolving space with new developments and innovations
happening every day. Stay tuned for more updates
as we explore the intersection of technology
and finance. CME Group is making headlines once
again in the world of cryptocurrency. The leading
derivatives exchange is gearing up to launch
Ethereum to Bitcoin ratio futures next month,
expanding its digital assets offering to cater
to the growing demand in the market. This new
product is set to provide investors with an opportunity
to trade Ethereum to Bitcoin ratio contracts,
allowing them to speculate on the relative performance
between the two cryptocurrencies. It's an exciting
development for those involved in the crypto
space, as it offers another avenue for diversification
and potential profits. In other news, Sodexo,
the European food services and facilities management
firm, is making waves with its latest NFT venture.
But here's the twist. These NFTs are exclusively
for employees, not the general public. Sodexo's
Plexi division has launched NFTs on the internet
computer, aiming to reward and engage their workforce.
It's an innovative approach to employee incentives,
leveraging the NFT trend to create a unique and
exclusive experience within the organization.
While Sodexo is focusing on internal NFTs, the
broader cryptocurrency market is thriving with
activity. FTT, the native token of cryptocurrency
exchange FTX, has experienced a staggering 35
% surge in value due to speculation surrounding
a potential revival of the platform. This development
has sparked excitement among traders and investors,
highlighting the dynamic nature of the crypto
market and the potential for substantial gains.
Institutions are also actively exploring blockchain
technology and its applications. Mastercard,
a global payment solutions provider, has revealed
its plans to build an Ethereum -based blockchain
app store specifically for regulated financial
applications. This move showcases the increasing
recognition and adoption of blockchain solutions
by established financial players, further validating
the potential of this technology in transforming
traditional financial systems. As for the market
performance of specific cryptocurrencies, Ripple,
XRP, has seen a 9 % decline in value over the
past week. closely followed by Cardano, ADA.
This serves as a reminder of the volatility often
associated with the crypto market, and investors
must stay abreast of price movements and market
trends to make informed decisions. Speaking of
market trends, Binance users will need to provide
new banking details for EUR deposits starting
from a specified date. It's essential for users
to be aware of such updates to ensure a smooth
transition and uninterrupted trading activities
on the platform. Meanwhile, the crypto price
analysis for June 29th presents an overview of
the current situation for popular cryptocurrencies
such as Ethereum, ETH, Ripple, XRP, Cardano,
ADA, Binance Coin, BNB, and Dogecoin, Doge. Investors
keen on these coins should pay attention to these
insights to guide their investment strategies.
one of the leading cryptocurrency exchanges,
has experienced a notable increase in its shares
since facing a lawsuit by the SEC. Despite the
legal challenges, Coinbase has managed to rally,
demonstrating its resilience and ability to navigate
turbulent waters in the crypto industry. On a
different note, the North Carolina House of Representatives
is proposing to allocate $50 ,000 towards studying
the benefits of holding Bitcoin. This is a significant
development as it showcases the growing interest
among government bodies in understanding and
embracing cryptocurrencies and their potential
economic impact. Furthermore, SUI Network's token
holders have been eagerly anticipating the unlocking
of their tokens. It's crucial for them to stay
informed about the timeline and associated developments
to ensure a seamless and successful unlocking
process. In the realm of regulatory discussions,
John Deaton, a lawyer representing XRP holders,
has shared his thoughts on former SEC Chairman
Jay Clayton's stance on the current regulatory
framework. This ongoing dialogue highlights the
importance of regulatory clarity and the impact
it has on the cryptocurrency market and its participants.
Moving beyond specific cryptocurrencies, investment
management giant BlackRock has emphasized the
significance of artificial intelligence, AI,
as a mega force in today's market. This reaffirms
the growing importance of AI technology in shaping
various industries, including finance and investing.
Moreover, Fidelity has refiled its application
for a Bitcoin spot ETF. This development underscores
Fidelity's commitment to bringing a regulated
Bitcoin exchange traded fund to the market. It's
worth noting that their previous application
faced obstacles. But this renewed effort demonstrates
their determination to overcome the challenges
and eventually provide investors with more accessible
avenues for Bitcoin investment. In Canada, lawmakers
have published a report defending and supporting
cryptocurrencies, a positive sign for crypto
enthusiasts in the country. Additionally, Coinbase
has received approval from the Canadian government,
further cementing its position as a prominent
player in the Canadian crypto market. Meanwhile,
Ledger, a leading provider of hardware wallets,
has made an entrance into the institutional trading
tech market through the launch of TradeLink.
This venture is aimed at expanding Ledger's reach
and offering institutional -grade trading solutions
to its customers. Paxos, a regulated financial
institution, has partnered with Mercado Libre
to provide USDP stablecoin access in Mexico.
This collaboration opens up new opportunities
for individuals and businesses to leverage stablecoin
technology within the Mexican market. In the
United Kingdom, a bill has been passed that establishes
cryptocurrencies and stablecoins as regulated
financial activities. This move sets a regulatory
framework for the crypto industry, providing
clarity and legal certainty for businesses and
investors operating in the UK. Market Watch reports
that Bitcoin Cash, BCH, has witnessed a significant
33 % surge to a 14 -month high, joined by Solana
and Litecoin, with 15 % gains. These price movements
highlight the ever -changing landscape of the
crypto market, with opportunities for substantial
returns and volatility. On the legal front, Coinbase
has filed a request for the dismissal of charges
against it. This ongoing legal battle between
Coinbase and the regulatory authorities underscores
the challenges and complexities surrounding compliance
and regulation in the cryptocurrency industry.
Lastly, there's talk about significant Bitcoin
options expiring soon. With 158, 6K BTC set to
expire on Deribit with a notional value of $4
.86 billion, The market awaits the potential
impact of this event. It's crucial for traders
and investors to keep a close eye on these expirations
as they can sometimes lead to increased market
volatility and subsequent price movements. In
conclusion, the cryptocurrency landscape continues
to evolve rapidly with new products, market trends,
regulatory developments, and legal battles shaping
the industry. It remains an exciting space for
investors and enthusiasts alike, but one that
requires vigilance and thoughtful decision -making.
As always, staying informed and keeping a finger
on the pulse of the market is key to navigating
the dynamic world of cryptocurrencies. In today's
episode, we discussed a wide range of topics,
including the simplification of Bitcoin trading
with the introduction of a Bitcoin ETF, the exciting
NFT rewards for Lacoste holders, the challenges
faced by Binance with the loss of a banking partner,
the continued success of Damus on Apple, and
the emergence of a Bitcoin -friendly social app.
We also covered the rejection of Binance in Germany,
the layoffs at Candy Digital, the unification
of liquidity on Polygon 2 .0, and a thrilling
preview of the Rumble Racing Star game. Additionally,
we delved into how Canadian lawmakers are showing
support for crypto, the refiling of a Bitcoin
ETF by Fidelity, the account bands in CS .io,
the impressive valuation of an AI chatbot startup
at $4 billion, the game guide for Yuga's HVMTL
Forge game, Coinbase's Layer 2 network preparations
for launch, and the rejection of AI -generated
games by Steam. Finally, we explored the value
of a typeface reaching $1 billion. Thanks for
listening to today's episode. I'll see you guys
at the next one. And please don't forget to subscribe
to the Bitcoin Street Journal podcast on Fountain
.fm.