WEBVTT 00:00:14.919 --> 00:00:18.140 Welcome to the Bitcoin Street Journal. Bitcoin 00:00:18.140 --> 00:00:20.800 Market Update Podcast, your daily source for 00:00:20.800 --> 00:00:23.519 live updates on the Bitcoin market. Join us as 00:00:23.519 --> 00:00:25.820 we delve into current Bitcoin technical analysis, 00:00:26.379 --> 00:00:30.000 track Bitcoin BTC prices, explore market capitalization 00:00:30.000 --> 00:00:32.719 trends and analyze market supply. Stay ahead 00:00:32.719 --> 00:00:34.520 of the curve with our comprehensive coverage 00:00:34.520 --> 00:00:37.450 of the ever evolving world of Bitcoin. In today's 00:00:37.450 --> 00:00:39.810 episode, we'll cover Coinbase's argument against 00:00:39.810 --> 00:00:42.990 the SEC crackdown, the expansion of DeFi startup 00:00:42.990 --> 00:00:45.750 Ondo, the compatibility of Safe's smart wallet, 00:00:46.229 --> 00:00:49.729 the SEC's lawsuit against Celsius Network, Telegram's 00:00:49.729 --> 00:00:52.369 enablement of payments, Tachyon X's support for 00:00:52.369 --> 00:00:55.609 crypto founders, XRP's surge after a court ruling, 00:00:56.189 --> 00:00:58.929 the charges against the former Celsius CEO, the 00:00:58.929 --> 00:01:02.109 signing of a crypto punk DJ with WME, Musk's 00:01:02.109 --> 00:01:04.680 accusation of harassment, The rise of altcoins 00:01:04.680 --> 00:01:07.900 after the XRP ruling. Circle CEO's warning on 00:01:07.900 --> 00:01:12.040 USD. Ethereum's reaching of $2 ,000. Ripple's 00:01:12.040 --> 00:01:14.959 design for banks. The resumption of XRP trading 00:01:14.959 --> 00:01:17.760 by Coinbase. The approval of a strike by actors. 00:01:18.340 --> 00:01:20.939 The increasing embrace of NFTs by game publishers. 00:01:21.579 --> 00:01:24.180 Lawsuits against Celsius Network. The ability 00:01:24.180 --> 00:01:27.040 of miners to manipulate transactions with MEV. 00:01:27.299 --> 00:01:29.579 Ripple's partial win boosting the crypto market. 00:01:30.140 --> 00:01:32.219 The shutdown of multi -chain after the CEO's 00:01:32.219 --> 00:01:35.250 arrest. the bail set for the former Celsius CEO, 00:01:35.849 --> 00:01:38.750 the relisting of XRP by exchanges, the value 00:01:38.750 --> 00:01:41.930 of CryptoPunks as NFTs, the announcement of a 00:01:41.930 --> 00:01:44.950 new NFT for the Flash movie, Ripple's victory 00:01:44.950 --> 00:01:47.790 against SEC, and Bitcoin's new high along with 00:01:47.790 --> 00:01:50.769 the comparison of dollar cost averaging for Bitcoin, 00:01:51.129 --> 00:01:55.569 SPY, and GLD. Hey there. Today we've got some 00:01:55.569 --> 00:01:57.310 interesting news from the world of cryptocurrency. 00:01:57.769 --> 00:02:00.579 Let's jump right in. First up, Coinbase, one 00:02:00.579 --> 00:02:03.040 of the leading cryptocurrency exchanges, is in 00:02:03.040 --> 00:02:05.099 a legal battle with the U .S. Securities and 00:02:05.099 --> 00:02:08.699 Exchange Commission, SEC. Coinbase argues that 00:02:08.699 --> 00:02:10.719 the SEC should have sought congressional support 00:02:10.719 --> 00:02:12.840 before cracking down on the crypto industry. 00:02:13.419 --> 00:02:15.580 They believe that the SEC's actions have been 00:02:15.580 --> 00:02:17.960 too broad and sweeping, and that it's important 00:02:17.960 --> 00:02:21.039 to have a clear regulatory framework. Moving 00:02:21.039 --> 00:02:24.719 on, a decentralized finance, DeFi startup called 00:02:24.719 --> 00:02:27.949 Ondo, is expanding its market reach. They were 00:02:27.949 --> 00:02:30.550 the first company to tokenize US treasuries and 00:02:30.550 --> 00:02:32.889 now they want to go beyond the Ethereum mainnet. 00:02:33.430 --> 00:02:35.490 They're taking their yield earning stablecoin 00:02:35.490 --> 00:02:38.090 alternative to Polygon, a popular blockchain 00:02:38.090 --> 00:02:40.810 network. By expanding to different networks, 00:02:41.449 --> 00:02:43.430 Ondo aims to reach a wider audience and provide 00:02:43.430 --> 00:02:46.150 more options for their users. Now let's talk 00:02:46.150 --> 00:02:49.330 about Safe. They have added smart wallet compatibility 00:02:49.330 --> 00:02:51.669 as part of their push towards account abstraction. 00:02:52.349 --> 00:02:54.889 Safe is a company focused on making crypto wallets 00:02:54.889 --> 00:02:57.879 more secure and user friendly. The addition of 00:02:57.879 --> 00:03:00.199 smart wallet compatibility is seen as the first 00:03:00.199 --> 00:03:02.360 step towards implementing account abstraction, 00:03:03.000 --> 00:03:05.560 a concept that aims to simplify the user experience 00:03:05.560 --> 00:03:08.800 and enhance privacy. In some legal news, the 00:03:08.800 --> 00:03:11.319 SEC has filed a lawsuit against the crypto lending 00:03:11.319 --> 00:03:15.659 platform Celsius Network and its CEO, Alex Mashinsky. 00:03:16.560 --> 00:03:18.500 They are being charged with fraud and offering 00:03:18.500 --> 00:03:21.659 unregistered securities. The SEC alleges that 00:03:21.659 --> 00:03:24.419 Celsius Network and Mashinsky engaged in illegal 00:03:24.419 --> 00:03:26.919 activities and they are seeking legal action 00:03:26.919 --> 00:03:30.099 to hold them accountable. In a positive development 00:03:30.099 --> 00:03:33.360 for the crypto community, Telegram, the popular 00:03:33.360 --> 00:03:36.319 messaging platform, now allows users to pay merchants 00:03:36.319 --> 00:03:38.960 in Bitcoin. This is made possible through a third 00:03:38.960 --> 00:03:41.180 -party chatbot powered by the Ton blockchain. 00:03:41.939 --> 00:03:44.759 Users can make instant payments in Bitcoin, USDT, 00:03:44.800 --> 00:03:47.439 and Ton directly within Telegram, providing a 00:03:47.439 --> 00:03:50.219 convenient and seamless user experience. Next, 00:03:50.300 --> 00:03:53.099 let's talk about TachyonX, a fund provided by 00:03:53.099 --> 00:03:56.020 Consensus Mesh. They are offering upfront funding 00:03:56.020 --> 00:03:59.879 of $150 ,000 to blockchain startups, along with 00:03:59.879 --> 00:04:03.060 mentorship from industry experts. This initiative 00:04:03.060 --> 00:04:05.180 aims to support the growth and development of 00:04:05.180 --> 00:04:08.379 the blockchain ecosystem by cutting through unnecessary 00:04:08.379 --> 00:04:11.280 red tape and providing valuable resources to 00:04:11.280 --> 00:04:14.259 promising projects. In the world of cryptocurrencies, 00:04:14.960 --> 00:04:18.079 XRP has experienced a surge in value following 00:04:18.079 --> 00:04:21.040 a ruling in the ongoing SEC case against Ripple, 00:04:21.439 --> 00:04:24.259 the company behind XRP. The court ruled that 00:04:24.259 --> 00:04:28.000 sales of XRP were not securities except to institutions. 00:04:28.800 --> 00:04:31.040 This ruling has sparked positive reactions from 00:04:31.040 --> 00:04:33.699 traders and has raised questions about the classification 00:04:33.699 --> 00:04:37.019 of cryptocurrencies as securities. Unfortunately, 00:04:37.519 --> 00:04:40.740 former Celsius CEO Alex Machinsky is facing more 00:04:40.740 --> 00:04:43.279 troubles. He has been hit with seven criminal 00:04:43.279 --> 00:04:46.180 charges related to his involvement with the bankrupt 00:04:46.180 --> 00:04:49.589 crypto lender. These charges are serious and 00:04:49.589 --> 00:04:51.990 could have significant consequences for Machinsky. 00:04:52.470 --> 00:04:55.050 It's a tough situation for him and the entire 00:04:55.050 --> 00:04:58.050 Celsius network. On a lighter note, a crypto 00:04:58.050 --> 00:05:01.069 punk DJ named Seed Phrase has signed with WME, 00:05:01.449 --> 00:05:03.709 one of the biggest talent agencies in the world. 00:05:04.290 --> 00:05:06.310 Seed Phrase is also planning to release music 00:05:06.310 --> 00:05:09.009 and launch a new community project. It's exciting 00:05:09.009 --> 00:05:11.910 to see artists exploring the world of NFTs and 00:05:11.910 --> 00:05:14.069 using their creativity to engage with the crypto 00:05:14.069 --> 00:05:16.850 community. In a legal battle related to Dogecoin, 00:05:17.069 --> 00:05:20.310 Elon Musk, the billionaire CEO of Tesla and SpaceX, 00:05:20.790 --> 00:05:23.209 is facing accusations of unlawful harassment. 00:05:23.870 --> 00:05:25.730 The attorney representing Dogecoin Investors 00:05:25.730 --> 00:05:28.649 claims that Musk's legal team is using substantial 00:05:28.649 --> 00:05:31.810 resources to fund tactics aimed at intimidating 00:05:31.810 --> 00:05:34.790 their clients. It's a contentious situation that 00:05:34.790 --> 00:05:36.889 highlights the growing influence of cryptocurrencies 00:05:36.889 --> 00:05:40.550 and the conflicts that can arise. In other news, 00:05:40.870 --> 00:05:43.970 the recent ruling in the XRP case has had a positive 00:05:43.970 --> 00:05:46.230 impact on the broader cryptocurrency market. 00:05:46.490 --> 00:05:48.870 tokens that were previously deemed securities 00:05:48.870 --> 00:05:51.990 by the SEC are now seeing significant gains. 00:05:52.709 --> 00:05:55.290 This ruling has brought some clarity to the regulatory 00:05:55.290 --> 00:05:58.430 landscape, providing more optimism for cryptocurrencies 00:05:58.430 --> 00:06:01.790 as a whole. Jeremy Allaire, the CEO of Circle, 00:06:01.949 --> 00:06:04.430 a leading digital payment company, has warned 00:06:04.430 --> 00:06:06.670 that the dominance of the US dollar is under 00:06:06.670 --> 00:06:09.790 threat. He believes that other nations are outpacing 00:06:09.790 --> 00:06:12.939 the US in terms of financial innovation. posing 00:06:12.939 --> 00:06:15.379 a challenge to the dollar's position as the global 00:06:15.379 --> 00:06:18.720 reserve currency. Allaire's warning highlights 00:06:18.720 --> 00:06:21.259 the need for the U .S. to stay ahead in the rapidly 00:06:21.259 --> 00:06:24.220 evolving world of digital currencies. In Ethereum 00:06:24.220 --> 00:06:27.040 news, the cryptocurrency has reached the $2 ,000 00:06:27.040 --> 00:06:30.319 mark for the first time since May. This milestone 00:06:30.319 --> 00:06:32.540 comes after the federal judges ruling on the 00:06:32.540 --> 00:06:35.560 XRP case, which provided positive momentum for 00:06:35.560 --> 00:06:38.759 the crypto market. Ethereum's resurgence is a 00:06:38.759 --> 00:06:41.259 positive sign for investors and the overall market 00:06:41.259 --> 00:06:44.100 sentiment. Let's take a moment to discuss what 00:06:44.100 --> 00:06:47.600 Ripple is all about. Ripple's XRP is a cryptocurrency 00:06:47.600 --> 00:06:50.120 designed to facilitate faster and cheaper money 00:06:50.120 --> 00:06:53.019 transfers, particularly for banks. Ripple has 00:06:53.019 --> 00:06:55.379 been a driving force behind XRP's development 00:06:55.379 --> 00:06:57.879 and adoption. It's an interesting project that 00:06:57.879 --> 00:07:00.639 aims to revolutionize traditional financial systems. 00:07:01.100 --> 00:07:03.560 Coinbase, after May's ruling by Judge Analisa 00:07:03.560 --> 00:07:07.120 Torres, is set to restart XRP trading. The judge 00:07:07.120 --> 00:07:10.100 clarified that her ruling did not address secondary 00:07:10.100 --> 00:07:12.959 sales of XRP. However, it's important to note 00:07:12.959 --> 00:07:15.360 that the case is still ongoing, and there are 00:07:15.360 --> 00:07:18.240 more legal matters to be resolved. It's a step 00:07:18.240 --> 00:07:21.259 forward for XRP, but the final outcome is yet 00:07:21.259 --> 00:07:23.759 to be determined. In the entertainment industry, 00:07:24.199 --> 00:07:26.480 the Screen Actors Guild, American Federation 00:07:26.480 --> 00:07:29.120 of Television and Radio Artists, SAG -AFTRA, 00:07:29.480 --> 00:07:32.220 is planning to strike. This move is in solidarity 00:07:32.220 --> 00:07:34.519 with striking writers who are demanding better 00:07:34.519 --> 00:07:37.240 compensation and addressing concerns related 00:07:37.240 --> 00:07:40.899 to artificial intelligence, AI. The entertainment 00:07:40.899 --> 00:07:44.000 industry is grappling with the impact of AI and 00:07:44.000 --> 00:07:46.860 its implications for creators' rights. Speaking 00:07:46.860 --> 00:07:50.300 of AI, Mythical Games CEO John Linden predicts 00:07:50.300 --> 00:07:52.819 that more game publishers will embrace non -fungible 00:07:52.819 --> 00:07:56.819 tokens, NFTs, in the near future. With EA Sports 00:07:56.819 --> 00:07:59.259 and Fortnite creator Epic Games already exploring 00:07:59.259 --> 00:08:02.519 NFT platforms, Linden expects other major game 00:08:02.519 --> 00:08:05.189 publishers to follow suit. The industry is moving 00:08:05.189 --> 00:08:07.930 towards adopting blockchain technology, and this 00:08:07.930 --> 00:08:10.230 shift could lead to exciting developments for 00:08:10.230 --> 00:08:13.850 gamers and creators. Lastly, the collapsed crypto 00:08:13.850 --> 00:08:16.910 lender Celsius Network and its former executives 00:08:16.910 --> 00:08:19.689 are facing multiple lawsuits from various government 00:08:19.689 --> 00:08:23.889 agencies. The Department of Justice, DOJ, SEC, 00:08:24.449 --> 00:08:27.470 Federal Trade Commission, FTC, and the Commodity 00:08:27.470 --> 00:08:30.790 Futures Trading Commission, CTFC, have filed 00:08:30.790 --> 00:08:33.649 lawsuits against Celsius Network. These legal 00:08:33.649 --> 00:08:35.809 actions highlight the importance of regulatory 00:08:35.809 --> 00:08:38.389 compliance in the crypto industry. That's it 00:08:38.389 --> 00:08:40.610 for today's wrap up of the latest crypto news. 00:08:41.149 --> 00:08:43.570 Stay tuned for more updates as the industry continues 00:08:43.570 --> 00:08:47.789 to evolve and grow. Today, let's dive into a 00:08:47.789 --> 00:08:49.850 few interesting news stories and updates from 00:08:49.850 --> 00:08:52.210 the cryptocurrency world. We'll be discussing 00:08:52.210 --> 00:08:56.250 topics like maximal extractable value, MEV, the 00:08:56.250 --> 00:08:59.149 recent ruling on the SEC versus Ripple Labs case, 00:08:59.470 --> 00:09:01.750 the impact of Ripple's partial win on the crypto 00:09:01.750 --> 00:09:05.889 market, and much more. MEV, or maximal extractable 00:09:05.889 --> 00:09:08.909 value, is a concept based on the idea that miners 00:09:08.909 --> 00:09:11.289 and other participants in the blockchain validation 00:09:11.289 --> 00:09:14.470 process can manipulate and reorder transactions 00:09:14.470 --> 00:09:18.350 for their personal gain. Essentially, MEV refers 00:09:18.350 --> 00:09:21.110 to the potential profits that can be extracted 00:09:21.110 --> 00:09:23.830 from reordering or censoring transactions on 00:09:23.830 --> 00:09:26.629 the blockchain. It has become a topic of concern 00:09:26.629 --> 00:09:29.379 within the crypto community as it raises questions 00:09:29.379 --> 00:09:32.679 about fairness and decentralization. Miners and 00:09:32.679 --> 00:09:35.200 validators being able to prioritize or manipulate 00:09:35.200 --> 00:09:38.179 transactions can have significant implications 00:09:38.179 --> 00:09:40.720 for the security and stability of the blockchain 00:09:40.720 --> 00:09:43.820 network. Speaking of Ripple, there has been some 00:09:43.820 --> 00:09:46.519 optimism at Coinbase following Judge Torres's 00:09:46.519 --> 00:09:49.019 partial ruling on the SEC versus Ripple Labs 00:09:49.019 --> 00:09:52.220 case. This ruling has added a new dimension to 00:09:52.220 --> 00:09:54.799 the SEC's lawsuit against Coinbase, and it's 00:09:54.799 --> 00:09:58.559 important to watch how this case unfolds. Ripple's 00:09:58.559 --> 00:10:00.899 partial win against the SEC has had a ripple 00:10:00.899 --> 00:10:03.860 effect on the entire crypto market, with positive 00:10:03.860 --> 00:10:06.519 gains spreading across the board. This uplift 00:10:06.519 --> 00:10:09.820 in spirits is a welcomed change, especially considering 00:10:09.820 --> 00:10:13.220 the volatility we've seen in the past year. In 00:10:13.220 --> 00:10:16.019 another interesting turn of events, Multichain, 00:10:16.220 --> 00:10:19.259 a blockchain project, had to shutter its operations 00:10:19.259 --> 00:10:21.960 after Chinese police took the CEO's sister into 00:10:21.960 --> 00:10:25.669 custody and impounded operational funds. This 00:10:25.669 --> 00:10:27.730 highlights the challenges and risks faced by 00:10:27.730 --> 00:10:30.590 companies operating in the crypto space, especially 00:10:30.590 --> 00:10:32.789 in countries with strict regulations and uncertain 00:10:32.789 --> 00:10:35.990 legal frameworks. Moving on to the world of NFTs, 00:10:36.509 --> 00:10:38.470 crypto punks have become one of the most desirable 00:10:38.470 --> 00:10:41.309 and expensive crypto collectibles. These are 00:10:41.309 --> 00:10:43.909 some of the oldest NFTs, and many collectors 00:10:43.909 --> 00:10:46.610 are eager to get their hands on them. If you're 00:10:46.610 --> 00:10:48.850 interested in buying your own crypto punk, there 00:10:48.850 --> 00:10:51.049 are platforms where you can find them, but be 00:10:51.049 --> 00:10:53.190 ready to spend a significant amount of money. 00:10:53.740 --> 00:10:57.399 Talking about NFTs, DC Comics superhero movie 00:10:57.399 --> 00:11:00.379 The Flash will be released as an NFT on July 00:11:00.379 --> 00:11:03.019 18th, the same day it hits traditional digital 00:11:03.019 --> 00:11:05.720 platforms. This is an interesting development 00:11:05.720 --> 00:11:08.740 that showcases the growing adoption of NFTs in 00:11:08.740 --> 00:11:11.659 the entertainment industry. In regulatory news, 00:11:11.919 --> 00:11:14.100 there have been ongoing debates and discussions 00:11:14.100 --> 00:11:16.899 about the SEC's actions against Ripple and other 00:11:16.899 --> 00:11:19.419 cryptocurrencies. It's important to follow these 00:11:19.419 --> 00:11:22.350 developments closely. as they can have a significant 00:11:22.350 --> 00:11:25.230 impact on the overall regulatory landscape for 00:11:25.230 --> 00:11:28.470 cryptocurrencies. We've also seen some interesting 00:11:28.470 --> 00:11:30.909 news from prominent cryptocurrency exchanges. 00:11:31.730 --> 00:11:34.389 Kraken and Crypto .com have joined Coinbase in 00:11:34.389 --> 00:11:37.149 relisting XRP following the court ruling on the 00:11:37.149 --> 00:11:40.629 SEC case. While the judge's decision didn't specifically 00:11:40.629 --> 00:11:43.870 address secondary sales, these exchanges are 00:11:43.870 --> 00:11:46.669 showing greater confidence in trading XRP after 00:11:46.669 --> 00:11:49.639 the recent developments. Now let's take a step 00:11:49.639 --> 00:11:52.379 back and talk about the recent rally in the cryptocurrency 00:11:52.379 --> 00:11:55.659 market. With Ripple's victory and the positive 00:11:55.659 --> 00:11:58.100 sentiment that followed, various cryptocurrencies 00:11:58.100 --> 00:12:03.279 experienced significant gains. XRP, SOL, ADA, 00:12:03.779 --> 00:12:07.299 and XLM have all soared by double digits, contributing 00:12:07.299 --> 00:12:10.220 to an overall increase of $70 billion in the 00:12:10.220 --> 00:12:12.879 crypto market. It's an exciting time for crypto 00:12:12.879 --> 00:12:15.720 enthusiasts and investors. Wrapping up with some 00:12:15.720 --> 00:12:19.230 noteworthy updates. former Celsius CEO Alex Machinsky 00:12:19.230 --> 00:12:22.190 has been released on a $40 million bond after 00:12:22.190 --> 00:12:24.870 being arrested and facing fraud accusations. 00:12:25.830 --> 00:12:28.149 This case has attracted significant attention, 00:12:28.149 --> 00:12:30.610 and it's important to follow the legal proceedings 00:12:30.610 --> 00:12:34.029 and see how they unfold. Additionally, the Ethereum 00:12:34.029 --> 00:12:37.149 network has been seeing increased activity, with 00:12:37.149 --> 00:12:39.529 data showing that it is almost twice as busy 00:12:39.529 --> 00:12:42.460 as the Bitcoin network. This highlights the growing 00:12:42.460 --> 00:12:45.639 popularity and usage of Ethereum as a platform 00:12:45.639 --> 00:12:48.639 for decentralized applications and smart contracts. 00:12:49.120 --> 00:12:51.580 And that's it for today's news roundup. We covered 00:12:51.580 --> 00:12:54.580 a range of topics from MEV and legal battles 00:12:54.580 --> 00:12:58.399 to NFTs and market rallies. As always, the cryptocurrency 00:12:58.399 --> 00:13:01.159 space is full of exciting developments, so stay 00:13:01.159 --> 00:13:03.460 tuned for more updates. Thanks for listening 00:13:03.460 --> 00:13:07.139 and until next time. So there's been quite a 00:13:07.139 --> 00:13:08.980 bit of news in the world of Bitcoin and other 00:13:08.980 --> 00:13:11.740 assets lately. Let's dive into some of the latest 00:13:11.740 --> 00:13:14.080 updates and reactions from people in the industry. 00:13:14.759 --> 00:13:17.120 First off, let's talk about dollar cost averaging. 00:13:18.120 --> 00:13:20.279 Dylan Leclerc shared some interesting stats on 00:13:20.279 --> 00:13:23.039 the performance of Bitcoin, gold, and stocks 00:13:23.039 --> 00:13:25.519 starting from the day of the Bitcoin all -time 00:13:25.519 --> 00:13:28.899 high. According to his tweet, Bitcoin has seen 00:13:28.899 --> 00:13:32.919 a rise of 16%, while the SPY, which represents 00:13:32.919 --> 00:13:36.659 the S &P 500 index, has seen a 9 % increase. 00:13:37.279 --> 00:13:39.740 Gold, on the other hand, has only gone up by 00:13:39.740 --> 00:13:42.820 7%. It seems like Bitcoin has been leading the 00:13:42.820 --> 00:13:45.679 pack in terms of growth, even with its notorious 00:13:45.679 --> 00:13:48.980 volatility. But before we get too excited about 00:13:48.980 --> 00:13:51.460 Bitcoin, some concerning news broke recently. 00:13:51.960 --> 00:13:54.879 The CEO of Celsius, Alex Machinsky, was arrested 00:13:54.879 --> 00:13:57.860 and charged with fraud. This came as quite a 00:13:57.860 --> 00:14:00.500 shock to the industry, as Celsius is a well -known 00:14:00.500 --> 00:14:03.399 and widely used platform for earning interest 00:14:03.399 --> 00:14:06.690 on cryptocurrency holdings. This news serves 00:14:06.690 --> 00:14:09.129 as a reminder that even in the world of cryptocurrencies, 00:14:09.929 --> 00:14:12.429 there are still instances of fraud and wrongdoing. 00:14:13.330 --> 00:14:15.710 Speaking of currencies, the US dollar hit a two 00:14:15.710 --> 00:14:18.649 -month low on Tuesday. This news might make some 00:14:18.649 --> 00:14:20.789 people reconsider their investment strategies. 00:14:21.730 --> 00:14:23.750 Many Bitcoin enthusiasts prefer to hold Bitcoin 00:14:23.750 --> 00:14:26.649 both in the short term and the long term, believing 00:14:26.649 --> 00:14:28.850 that it will continue to outperform traditional 00:14:28.850 --> 00:14:32.600 currencies. In regulatory news, the SEC has officially 00:14:32.600 --> 00:14:35.659 acknowledged Bitwise's Spot Bitcoin ETF application. 00:14:36.179 --> 00:14:38.519 This is a significant step forward for the potential 00:14:38.519 --> 00:14:40.720 approval of a Bitcoin ETF, which many believe 00:14:40.720 --> 00:14:43.000 will bring even more institutional adoption into 00:14:43.000 --> 00:14:46.679 the space. And in Europe, the first Bitcoin ETF 00:14:46.679 --> 00:14:49.440 is ready to launch, offering European investors 00:14:49.440 --> 00:14:51.879 another option for gaining exposure to Bitcoin. 00:14:52.480 --> 00:14:54.899 Let's hear from Jack Mallers, a well -known figure 00:14:54.899 --> 00:14:57.529 in the Bitcoin community. Mallers shared his 00:14:57.529 --> 00:14:59.929 thoughts on Bitcoin's performance, stating that 00:14:59.929 --> 00:15:01.929 if you take a step back and look at its performance, 00:15:02.350 --> 00:15:04.009 all it has done is gone up and to the right. 00:15:04.549 --> 00:15:06.850 It's hard to argue with that sentiment, considering 00:15:06.850 --> 00:15:08.950 Bitcoin's strong track record of growth over 00:15:08.950 --> 00:15:12.830 the years. In other news, Fidelity, a major financial 00:15:12.830 --> 00:15:15.570 institution, filed a second amendment to their 00:15:15.570 --> 00:15:19.350 spot Bitcoin ETF application. It seems that more 00:15:19.350 --> 00:15:21.289 and more companies are looking to get into the 00:15:21.289 --> 00:15:24.029 Bitcoin ETF game, which could have significant 00:15:24.029 --> 00:15:26.429 implications for the future of the cryptocurrency 00:15:26.429 --> 00:15:30.250 market. Turning to politics, a pro -Bitcoin U 00:15:30.250 --> 00:15:34.009 .S. candidate, RFK Jr., beat Biden in a favorability 00:15:34.009 --> 00:15:37.190 poll among Democrats. This indicates that there 00:15:37.190 --> 00:15:39.629 is growing support for Bitcoin within the political 00:15:39.629 --> 00:15:42.149 landscape, which could shape future policies 00:15:42.149 --> 00:15:44.909 and regulations. Now let's talk about some interesting 00:15:44.909 --> 00:15:47.049 facts and developments in the Bitcoin space. 00:15:47.450 --> 00:15:49.789 According to a tweet from Joe Burnett, the amount 00:15:49.789 --> 00:15:52.649 of Bitcoin held by Coinbase has decreased significantly 00:15:52.649 --> 00:15:56.230 over time. In March 2020, Coinbase held over 00:15:56.230 --> 00:15:59.129 1 million BTC, but that number has now dropped 00:15:59.129 --> 00:16:03.470 to 439 ,000 BTC. This suggests that exchanges 00:16:03.470 --> 00:16:05.409 are seeing a decrease in the amount of Bitcoin 00:16:05.409 --> 00:16:08.070 they hold, which could indicate increased demand 00:16:08.070 --> 00:16:11.679 and a potential scarcity of Bitcoin. In El Salvador, 00:16:11.960 --> 00:16:13.960 we're seeing people using Bitcoin to pay for 00:16:13.960 --> 00:16:16.519 McDonald's. This demonstrates the practical use 00:16:16.519 --> 00:16:19.259 of Bitcoin as a means of payment, even for everyday 00:16:19.259 --> 00:16:22.000 goods and services. And it seems like corporations 00:16:22.000 --> 00:16:24.440 are also getting in on the action, with more 00:16:24.440 --> 00:16:27.679 and more of them accumulating Bitcoin. This trend 00:16:27.679 --> 00:16:29.840 further highlights the growing acceptance and 00:16:29.840 --> 00:16:33.320 adoption of Bitcoin as a legitimate asset. Alan 00:16:33.320 --> 00:16:35.559 B. Watts raised an interesting question in his 00:16:35.559 --> 00:16:38.740 tweet. How many times must Bitcoiners be proven 00:16:38.740 --> 00:16:42.000 right before the masses realize the truth? It's 00:16:42.000 --> 00:16:43.879 a thought -provoking statement that reflects 00:16:43.879 --> 00:16:46.440 the continuous success and growth of Bitcoin, 00:16:47.159 --> 00:16:49.639 despite skepticism and criticism from some quarters. 00:16:50.200 --> 00:16:52.259 But amidst all the positive news, we shouldn't 00:16:52.259 --> 00:16:54.600 forget about the environmental impact of Bitcoin 00:16:54.600 --> 00:16:58.100 mining. In Georgia, a Bitcoin mining farm operates 00:16:58.100 --> 00:17:01.600 using only solar energy. This showcases the potential 00:17:01.600 --> 00:17:04.420 for sustainable mining and addresses some of 00:17:04.420 --> 00:17:06.200 the concerns surrounding the carbon footprint 00:17:06.200 --> 00:17:09.240 of cryptocurrency. One thing to keep in mind 00:17:09.240 --> 00:17:11.380 is that there might be less available Bitcoin 00:17:11.380 --> 00:17:14.640 than most people realize. With increasing demand 00:17:14.640 --> 00:17:17.559 and decreasing supply, the price action of Bitcoin 00:17:17.559 --> 00:17:19.859 could reflect this scarcity in the near future. 00:17:20.460 --> 00:17:23.039 Moving on to some notable endorsements, Larry 00:17:23.039 --> 00:17:26.920 Fink, CEO of BlackRock, expects Bitcoin to transcend 00:17:26.920 --> 00:17:29.539 every international currency due to worldwide 00:17:29.539 --> 00:17:32.369 demand. This is a significant statement coming 00:17:32.369 --> 00:17:35.210 from someone in a powerful position within the 00:17:35.210 --> 00:17:38.130 traditional financial industry. And in Argentina, 00:17:38.650 --> 00:17:40.650 which is experiencing a high annual inflation 00:17:40.650 --> 00:17:43.150 rate, the country launched its first Bitcoin 00:17:43.150 --> 00:17:45.990 futures contract. This development shows how 00:17:45.990 --> 00:17:48.750 Bitcoin can provide an alternative for individuals 00:17:48.750 --> 00:17:51.609 and institutions in economically unstable regions. 00:17:52.140 --> 00:17:54.880 These recent updates and reactions from industry 00:17:54.880 --> 00:17:57.720 insiders and enthusiasts provide a glimpse into 00:17:57.720 --> 00:18:00.319 the exciting and ever -evolving world of Bitcoin. 00:18:00.980 --> 00:18:03.440 It's clear that Bitcoin continues to make waves, 00:18:03.839 --> 00:18:06.579 proving its resilience and potential as a transformative 00:18:06.579 --> 00:18:09.559 financial asset. As always, it's essential to 00:18:09.559 --> 00:18:12.079 stay informed and be aware of the risks and opportunities 00:18:12.079 --> 00:18:14.359 that come with this rapidly changing landscape. 00:18:14.799 --> 00:18:16.980 And that concludes our quick overview of the 00:18:16.980 --> 00:18:19.920 latest news and reactions in the world of Bitcoin. 00:18:20.490 --> 00:18:23.390 Stay tuned for more updates as the Bitcoin journey 00:18:23.390 --> 00:18:42.069 continues. In today's episode, we covered a range 00:18:42.069 --> 00:18:44.789 of topics including Coinbase's argument against 00:18:44.789 --> 00:18:48.740 SEC, the expansion of DeFi startup Ando, the 00:18:48.740 --> 00:18:51.799 surge in XRP after a court ruling, the rise of 00:18:51.799 --> 00:18:54.880 altcoins, and the ongoing lawsuits against Celsius 00:18:54.880 --> 00:18:58.059 Network. Not your private keys, not your Bitcoin. 00:18:58.700 --> 00:19:02.039 Practice good OPSEC. Even crypto wallet extensions, 00:19:02.359 --> 00:19:04.319 password managers, and two FA extensions are 00:19:04.319 --> 00:19:06.950 vulnerable. Please support us on Fountain .com, 00:19:07.130 --> 00:19:10.170 Nostra Build, Spotify, Amazon Music, RSS .com, 00:19:10.369 --> 00:19:13.910 Pandora, Samsung Podcasts, Stitcher, Apple iTunes, 00:19:14.210 --> 00:19:16.589 iHeart Radio, and many more by adding a like, 00:19:16.690 --> 00:19:18.990 share, or subscribe for the Bitcoin Street Journal. 00:19:19.589 --> 00:19:21.549 Thanks for listening and your support. Thanks 00:19:21.549 --> 00:19:23.390 for listening to today's episode. I'll see you 00:19:23.390 --> 00:19:25.470 guys at the next one and don't forget to subscribe.