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 the US regulatory clarity,
EU warnings about DeFi, Bitcoin's drop, Elon
Musk defending Tesla attorneys, Gemini's lawsuit
against Digital Currency Group, OpenSea's support
for NFTs on Zora's network, the U .S. remaining
a crypto center, Bitcoin tokens moving to Ethereum,
leadership change at Polygon Labs, AI choosing
Bitcoin, Sega rethinking crypto games, Wimbledon
data turned into NFT, a chat bot allegedly backing
a man's plot, the uncertain future of DeFi and
AI aiding digital artists. Additionally, we'll
discuss Bitcoin spot ETF attracting new investors,
Ethereum's protocol upgrade, Bitcoin hitting
a one -year high, Solana surging, AI's ability
to move Bitcoin, chat GPT interpreting code to
prove Earth is round, Winklevoss suing Silbert,
Binance CEO dismissing FUD, Musk and Zuckerberg
exchanging jabs on Twitter, Vitalik Buterin advising
Bitcoin experimentation, Robert F. Kennedy Jr.
purchasing Bitcoin, AI enhancing game development,
and the decrease in crypto code commits. Finally,
we'll talk about BTC defending $1 .30K after
BlackRock's ETF application, Gemini suing Genesis,
Arthur Hayes seeing BTC as an AI currency, and
Ripple's victory that may void an investor lawsuit.
So, let's dive into the latest news in the crypto
world. It seems like regulatory clarity is on
its way for the U .S. according to Bitcraft's
legal counsel. This is great news for the industry,
as it will provide a more stable and predictable
environment for businesses and investors. Additionally,
the Council predicts that AI will play a significant
role in venture capital firms, bringing new opportunities
and efficiencies. But it's not just the US that
needs to pay attention to the changing landscape.
EU regulators have been warned not to ignore
decentralized finance, DeFi. The trade body for
Europe's wholesale financial markets believes
that regulations are necessary for decentralized
activities. In other news, Bitcoin recently dropped
to $30 ,000 amidst expectations of a Fed rate
hike. A monthly report on the U .S. job sector
caused some uncertainty as the market prepared
for higher interest rates. Elon Musk's legal
team is facing accusations of inappropriate behavior
in the Dogecoin lawsuit. Musk himself called
the motion to kick his attorneys off the case
an insult. Gemini Trust Company has initiated
a lawsuit against digital currency group and
CEO Barry Silbert, alleging fraud. This complaint
was filed on Friday, so we'll have to keep an
eye on how this unfolds. OpenSea has shown support
for NFTs on Zora's Ethereum Layer 2 network.
Users can now trade and mint NFTs through OpenSea's
platform, which is a significant development
for both projects. While crypto continues to
evolve, K33. Research highlights that the U .S.
remains the center of gravity. for the industry.
The country accounts for 30 % of the industry's
headcount, despite potential short -term pain
from regulatory enforcement. Speaking of Ethereum,
Bitcoin BRC20 tokens are making their way onto
the Ethereum network as tradable NFTs. Ordi and
OxBT are leading the way in this bridging process.
In the world of Polygon Labs, President Ryan
Wyatt has stepped down and Mark Boyran has been
named the new CEO. Wyatt remains involved in
the industry, providing advice and investments.
As for the future of AI, according to Arthur
Hayes, it will choose Bitcoin as its native currency.
Hayes believes that Bitcoin provides the necessary
characteristics for AI to thrive, permissionlessness,
scarcity, and continuous access. Moving on to
the gaming world, Splinterland's co -founder
Matt Rosen discusses the game's evolution over
the past five years and dismisses fears, uncertainties,
and doubts surrounding crypto. Meanwhile, Sega
is rethinking its blockchain plans for crypto
games and won't be using major intellectual properties.
Sega Koko 'o Shujutsumi finds play -to -earn
games boring. In a unique twist, Andy Murray's
Wimbledon tennis data has been transformed into
NFT artwork. Refik Anadal, the creator of MoMA's
Unsupervised exhibition, crafted this Ethereum
NFT based on Murray's data. Unfortunately, AI
chatbots have made headlines for the wrong reasons.
A man allegedly received support from a replica
chat bot for his plan to harm Queen Elizabeth
II. It's a chilling reminder of the potential
dangers of AI. Looking at the future of DeFi,
many are questioning what comes next after Terra's
collapse. With DeFi's past successes behind us,
the industry is eagerly searching for the next
big thing in decentralized finance. Finally,
digital artist Jenny Pisanen shares her journey
and how AI has become her muse. Passenent embraces
AI as a tool to enhance her dreamy creations
and push the boundaries of digital art. Volatility
shares co -founder Justin Young expressed his
disbelief at why spot Bitcoin wasn't allowed.
He believes opening the door to spot Bitcoin
would attract new investors. On another note,
an Ethereum developer explained why proto -dansharding
is significant. He highlighted that it would
enhance data handling efficiency and reduce costs.
This week, Bitcoin experienced a surge, reaching
a one -year high before settling down by Saturday.
Meanwhile, new Lightning Labs tools now enable
AI, particularly large language models like ChatGPT,
to hold, send, and receive Bitcoin through the
Lightning network. ChatGPT's new code interpreter
has an unexpected use case, proving to flat earthers
that the earth is round. Although it has the
potential to revolutionize society's relationship
with computers, the team had other priorities
in mind. On crypto Twitter, the Winklevoss twins
called on Barry Silbert to negotiate, only to
sue him three days later. Meanwhile, finance
CEO Changping Zhao advised his followers to ignore
fear, uncertainty, and doubt, FUD. Tech founders
Elon Musk and Mark Zuckerberg engaged in a taunting
exchange on Twitter, overshadowing topics like
AI, the metaverse, and self -driving cars. The
two CEOs seemed focused on establishing dominance
in the social media sphere. Ethereum inventor
Vitalik Buterin offered advice to Bitcoiners,
suggesting that the cryptocurrency should explore
more experiments if it wants to go beyond being
a means of payment. Despite recent claims, crypto
booster Robert F. Kennedy Jr. reportedly invested
in Bitcoin. Interestingly, Kennedy's campaign
had conflicting statements about who in his family
owned the cryptocurrency. Unity CEO believes
that AI will make games faster, cheaper, and
better. He emphasized that AI won't replace humans
in the game creation process, but rather empower
them to utilize AI tools effectively. While crypto
prices have been rising, there has been a drop
in crypto code commits. This decrease in development
activity could be attributed to the growing popularity
of artificial intelligence technologies. Comedian
Sarah Silverman, along with two other authors,
filed a lawsuit against Meta and OpenAI for using
their works to train AI -powered chatbots without
permission. Lastly, meme coin Pepe experienced
losses as new meme coins emerged, combined with
declines in Bitcoin and Ethereum. It's an ever
-changing landscape in the world of cryptocurrencies.
In this week's crypto recap, Bitcoin, BTC, defended
the $1 .30K mark after BlackRock refiled its
application for a spot Bitcoin ETF. This move
indicates a growing interest in cryptocurrency
from institutional investors. In other news,
Gemini has filed a lawsuit against Genesis, alleging
a failure to recover customers' Bitcoin. The
outcome of this case could have significant implications
for the industry. Meanwhile, Arthur Hayes, the
former CEO of BitMEX, believes that Bitcoin will
become the chosen AI currency. His prediction
highlights the potential for Bitcoin to play
a crucial role in the future of artificial intelligence.
In a recent development regarding the SEC's lawsuit
against Ripple, A lawyer for XRP argues that
a victory for Ripple could render investors class
action void. This case continues to unfold, affecting
the fate of XRP investors. Vitalik Buterin, the
co -founder of Ethereum, praises Bitcoin ordinals
and believes that the BRC20 standard could revive
stagnancy in the industry. This is noteworthy
as Buterin's opinions carry weight in the crypto
community. Additionally, A clash between Genesis
and FTX over funds is expected to delay Genesis's
creditor payout, as reported. This highlights
the challenges and disputes faced by companies
in the crypto space. Uniswap Vi4's release is
anticipated pending Ethereum's Cancun upgrade
and audit completion, which could bring significant
improvements to the popular decentralized exchange.
Lightning Labs has unveiled a toolkit that enables
artificial intelligence transactions in Bitcoin.
This innovation showcases the growing intersection
of AI and cryptocurrency. In the market, Solana,
S -O -L, has experienced a 12 % daily surge,
while Bitcoin, BTC, maintains its position at
$1 .30k. These price movements are closely watched
by traders and investors. Furthermore, the debate
between Bitcoin and BTC companies continues.
Analysts discuss which is the better investment,
examining factors such as market performance
and long -term potential. As the race for a spot
BTC ETF heats up, Cathy Wood, CEO of ARK Invest,
claims that her company is first in the queue.
The approval of a Bitcoin ETF would be a significant
milestone for the cryptocurrency market. In other
news, a British man lost $100k in a crypto scam,
but surprisingly had a happy ending. This story
serves as a reminder of the risks and potential
rewards associated with the crypto space. Marathon
Digital, a prominent Bitcoin mining company,
faced a 21 % decrease in BTC mined in June due
to extreme weather conditions in Texas. Such
challenges highlight the vulnerability of the
industry to external factors. Tether, the leading
stablecoin issuer, announced the expansion of
Euro -EURT and EXAT on what they claim to be
the world's first social -infused exchange. This
move reflects Tether's continued efforts to expand
its offerings. Bone Shiba Swap, after a 50 %
weekly surge, has entered the top 100 ranked
cryptocurrencies. Meanwhile, BTC appears to be
stalling at the $1 .30k mark, prompting speculation
about its future trajectory. Looking back at
Q2 2023, Bitcoin has demonstrated an impressive
85 % price increase. This growth has spurred
interest and investment in the cryptocurrency.
Coinbase finds itself in another regulatory dispute
as the SEC claims the company was aware of its
violation of U .S. securities laws. This ongoing
saga highlights the challenges faced by cryptocurrency
exchanges operating within the current regulatory
framework. Considering Bitcoin's price performance
after previous halvings, many wonder if history
will repeat itself. Analysts examine the patterns
and trends to gain insights into potential future
price movements. Speaking of price, the question
arises. Will Bitcoin plummet below $1 .30k? Or
are the bulls staging a recovery? A detailed
analysis of the current market situation provides
some insights into the possible direction of
BTC's price. In a surprising discovery, a Coinbase
executive detected $320k in crypto belonging
to a stranger. This unusual situation raises
questions about security and ownership within
the crypto industry. On a different note, famous
footballer Cristiano Ronaldo has dropped his
second NFT collection on Binance. Owners of these
NFTs have the opportunity to meet the star player,
highlighting the growing popularity of NFTs in
the sports industry. Amidst regulatory turmoil,
blockchain gaming continues to dominate the decentralized
application space. This sector showcases the
potential of blockchain technology beyond just
cryptocurrencies. Although new developers may
have left the crypto industry, experienced coders
remain committed to building its infrastructure.
This observation confirms the enduring appeal
and potential of cryptocurrency technology. As
for the market, Bitcoin remains shaky at the
$1 .30k mark, while Pepe experiences a 7 % daily
drop. These fluctuations indicate the volatility
that characterizes the cryptocurrency market.
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you for listening and supporting us. In today's
episode, we covered a range of topics including
regulatory clarity in the US, defy warnings in
the EU, Elon Musk defending Tesla attorneys,
the rise of NFTs on various platforms, Bitcoin's
movement to Ethereum, AI's impact on Bitcoin
and digital art, updates on major players like
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