Welcome to the Bitcoin Street Journal, Bitcoin
Market Update, the podcast that brings you daily
live updates on the ever -changing Bitcoin market.
Stay informed with our in -depth Bitcoin technical
analysis as we explore the current price of Bitcoin,
BTC, market capitalization, and market supply.
Get ready to dive into the world of cryptocurrency
and stay ahead of the game. In today's episode,
we'll cover EuroCBDC's potential protection against
Bitcoin, Binance's user base, BTC's performance,
SoFi Bank's Bitcoin holdings, SEC's delay on
Bitcoin ETF decisions, Oman's mining farm launch,
crypto miners diversifying into AI, Bitcoin NFT
sales volume decline, SEC's legal victories,
Ripple's appeal, crypto lender Helios sentencing,
BTC's slipping price, MicroStrategy's BTC holdings,
US leading Europe in crypto adoption. Bitcoin
mining stock surge, Coinbase's base blockchain
attracting scam tokens, BTC price analysis, Ethereum
Foundation's funding, Thorchain token increase,
FBI's crypto seizure, North Korean hackers theft,
Gemini's SEC lawsuit dismissal filing, altcoin
dump, Ripple V, SEC case updates, Italy's expensive
mining, S .I .B.'s struggles, Bitcoin ordnance
activity, recur NFT platform closure. Cardano
NFT price rise. Crypto's anonymity debate. DYDX
chain's ecosystem safety. Vitalik's ETH speculations.
China's metaverse user monitoring plan. Coinbase's
investment in Circle. XRP's potential rally.
Ethereum's price drop. Bitcoin devs fight against
Craig Wright lawsuit. BTC dominance rise. SEC's
potential mistake in Ripple case. Gitcoin controversy.
DJ wearing CryptoPunk helmet. DeFi lender hack.
Elon Musk's Twitter block feature removal, Bitcoin
flash crash explanation, OpenSea's backlash tokenization
spotlight, cryptocurrency market sell -off, AI
models with biological echoes, groundbreaking
astrocytes. people's trust in AI over humans
if they believe in God, AI -generated Ginsburg
-inspired poems, CEO's lawsuit against Crypto
.com, Comma Gemini's push for SEC case dismissal,
recur NFT platform shutdown, meme coins plummet,
and a solo miner winning a Bitcoin reward. So,
I came across an interesting article from the
World Economic Forum and it seems like they believe
that a Euro Central Bank digital currency or
CBDC could actually protect people from the likes
of Bitcoin. Yeah, you heard that right. According
to the forum, a Euro CBDC could help safeguard
public money in the face of a surge in cryptocurrencies
like Bitcoin. I mean, how funny is that? It's
like the Euro CBDC is here to save the day. But
you know what's even funnier? The response from
Lagarde. Basically, he's saying that the digital
euro should not be tracked, especially for amounts
under 300 euros, and even that is seen as dangerous
because of potential terrorist activities. I
guess he's really concerned about small amounts
falling into the wrong hands. However, anything
above that threshold would be monitored by the
state. It's quite an interesting approach, don't
you think? Now, let's talk about Bitcoin whales.
These mega investors have managed to accumulate
a whopping total of 27 ,755 BTC between May and
now. That's a lot of Bitcoin. And speaking of
numbers, guess how many registered users Binance,
one of the biggest crypto exchanges, has reached?
None other than a staggering 150 million users.
Can you believe it? CZ, the CEO of Binance, couldn't
contain his excitement as he tweeted about this
milestone. I mean, I can understand why he's
so fired up. Back in July 2022, Binance had already
surpassed 120 million users. So that's a growth
of 30 million in just a year. Impressive, right?
Oh, and according to SimilarWeb, Binance's top
traffic sources in the last three months are
Turkey, Vietnam, Russia, Argentina, and India.
It's interesting to see how crypto enthusiasm
is spread across the globe. Now brace yourself
for some stats. Since the start of this liquidity
cycle back in March 2020, Bitcoin has been the
best performing asset. Yes, you heard it right.
Bitcoin has seen a whopping 397 % increase in
value since then. In comparison, the S &P had
a 107 % increase. NASDAQ got a 98 .5 % boost.
VNQ went up by 42%. Gold saw a rise of 31 % and
ARKK gained 30%. It's safe to say that Bitcoin
has been crushing it. And the best part is that
global liquidity is expected to continue growing.
And guess what? Bitcoin is designed to absorb
all that liquidity in the best way possible.
It's like it was made for this. On another note,
it seems like Bitcoin's volume has dropped to
a three -year low. Huh. Talk about a quiet period
for Bitcoin trading. But hey, Let's not forget
about what's happening down under. Yes, Australia
is going cash -free, my friends. The government
has already removed a staggering $1 billion in
cash from circulation this year. Now that's a
lot of dough. This makes you wonder if the government
is paving the way for a central bank digital
currency. Hmm, food for thought. Let's switch
gears for a moment. Have you ever looked at Bitcoin
and thought, wow, it just looks simple? Well,
you're not alone. It's amazing how something
so complex can appear incredibly straightforward.
Bitcoin has this aura of simplicity around it,
and yet it's the backbone of a revolutionary
financial system. Now let's take a glimpse into
the past. Over the last 10 years, we've witnessed
the growth of not just Bitcoin, but also other
top assets. And you know what? Bitcoin has outperformed
them all. From Argentina's peso to the Russian
ruble, the Turkish lira, and even the mighty
US dollar. Bitcoin has shown its strength and
gained against all of these currencies since
the beginning of 2023. It's like Bitcoin has
become a force to be reckoned with in the world
of finance. Breaking news. The SEC or the United
States Securities and Exchange Commission has
decided to delay all Bitcoin ETF decisions until
early 2024. Yep, you heard it right. This means
that the wait for a Bitcoin ETF approval is a
bit longer than we anticipated. But hey, Good
things come to those who wait, right? Let's hope
this delay doesn't dampen spirits too much. Now
let's talk about El Salvador. Guess who just
became the first fully licensed crypto exchange
in the country? None other than Binance. Yep,
they did it again. Binance has established itself
as a pioneer by becoming the first fully licensed
crypto exchange in El Salvador. It's a significant
step for both Binance and the crypto industry
as a whole. Kudos to them for making history.
Shifting our focus to the United States, we have
some interesting news from San Francisco's SoFi
Bank. In their Q2 earnings report, they revealed
that they hold a staggering $82 million worth
of Bitcoin. That's quite the addition to their
balance sheet, don't you think? While we're on
the topic of banks, let's just say that confidence
in the Federal Reserve is at an all -time low.
People are questioning its ability to effectively
manage the economy and maintain stability. It's
a challenging time for central banks around the
world as they navigate this rapidly changing
financial landscape. And finally, let's take
a moment to talk about PayPal's stable coin.
Well, it seems like there's some skepticism around
using it. Good luck to anyone who decides to
give it a shot. Phew, that was quite a ride.
We covered a lot of ground in this conversation,
from Euro CBDCs to Bitcoin whales and everything
in between. The world of cryptocurrencies is
always evolving and it's fascinating to see how
these digital assets shape our financial future.
The journey continues, my friend. Hey there.
Today, let's dive into some interesting news
in the world of cryptocurrencies. We have some
exciting developments to share. So let's get
started. First up. We have crypto miners exploring
new avenues beyond traditional mining. It seems
that high -performance computing is catching
their attention because it might actually be
more profitable. Imagine that. You can learn
more about this by checking out the article.
Speaking of Bitcoin, it seems that its NFT counterparts,
known as Bitcoin Ordinals, have seen a significant
decline in sales volume and transactions since
June. This could be a sign of dwindling interest
in Bitcoin NFTs. To get all the details, give
the article a read. Moving on, a US judge has
granted the SEC's request to interrogate the
co -founder of Terra Labs, Daniel Shin. Apparently,
the co -founder got into some trouble with forged
documents while trying to travel to Dubai. You
can find out more about this intriguing case
by clicking on the linked article. In other SEC
news, they are seeking permission to appeal a
ripple ruling. The SEC believes that there is
a difference of opinion regarding crypto's relationship
with securities law in various courts. To delve
deeper into this matter, take a look at the article.
Next, let's talk about a crypto lender called
Helio, based Down Under in Australia. They recently
pleaded guilty to false license claims brought
by ASIC, the Australian regulator. The guilty
plea was considered by the regulator during the
sentencing process. To learn more about this
case, read the full article. Now let's move on
to the market watch. Bitcoin has slipped below
the $1 .26K mark again. and we've seen drops
of around 20 % for Litecoin, SHIB, and XRP. On
the flip side, tokens like KS and HBAR have been
soaring, experiencing double -digit growth in
the past 24 hours. If you want to keep an eye
on the ever -changing market trends, make sure
to read the article. Remember Michael Saylor
from MicroStrategy? Well, three years after their
first historic Bitcoin purchase, MicroStrategy
now holds an impressive 153 ,000 BTC. That's
quite the investment journey. Discover more about
their Bitcoin holdings in the linked article.
Now let's talk about crypto adoption. It seems
the US is pulling ahead of Europe, thanks in
part to BTC ETFs. A Bloomberg analyst highlighted
the factors that give the US an edge in adoption.
If you're curious about what sets them apart,
give the article a read. Shifting our focus to
Bitcoin mining, it's worth noting that mining
stocks have experienced massive growth this year.
Some of them have jumped a whopping 200%. But
there's one standout that has soared nearly 400%.
Intrigued? Check out the article for more information.
In some unfortunate news, Coinbase's incubated
base blockchain has attracted over 500 scam tokens.
These tokens have generated substantial trading
volume, reaching approximately $3 .7 million
on decentralized exchanges within the base network.
Get the full scoop in the article. Lastly, let's
take a look at Bitcoin's recent price movement.
After a crash resulting in an 11 % weekly decline,
the price has encountered significant rejection
near the critical $1 .30k threshold. However,
the current scenario shows the price consolidating
around the crucial support range of $1 .25k.
Could this be a bottom? Signaling a halt to further
downtrends? Find out more in the comprehensive
article. Wrapping up, the Ethereum Foundation
recently announced $9 million in project and
conference funding for the second quarter. If
you're interested in the latest developments
funding Ethereum projects, be sure to check out
their quarterly report. That wraps up our roundup
of crypto news for today. Stay tuned for more
exciting updates in the ever evolving world of
cryptocurrencies. So let's dive into some interesting
news from the crypto world. ThorChain's native
token has managed to defy the broader market
crash by registering weekly increases. This is
quite impressive considering the current volatility
in the market. Now, here's an interesting correlation
that you might not have heard of. The price of
oranges in Bitcoin. Believe it or not, there
seems to be a strong yearly correlation between
the two. It's a perfect example of what makes
Bitcoin's master thesis so appealing. The ability
to connect and influence various aspects of our
lives, even seemingly unrelated ones like fruit
prices. In other news, SBF, the popular crypto
figure, has filed a request for weekdays out
of jail to prepare for his defense. His legal
team argues that he cannot be expected to fully
review all the accusations leveled against him
while being incarcerated. It's an interesting
legal maneuver, and we'll have to wait and see
how it plays out. Moving on, the FBI has been
busy confiscating crypto assets. Between March
and May of this year, they managed to seize nearly
$2 million worth of Bitcoin, Ether, Tether, Monero
and die. It's a significant move in the ongoing
battle against illicit activities and money laundering
in the crypto industry. Speaking of illicit activities,
North Korean hackers have reportedly stolen a
staggering $180 million in the first half of
2023. These hackers have been progressively refining
their targets, methodologies and strategies for
money laundering. It's alarming to see how they
continue to evolve and adapt in their pursuit
of financial gain. On a more positive note, Oman
has introduced a crypto mining center valued
at a whopping $350 million. This is their second
major mining facility, following the one established
in November 2022. It's clear that Oman sees the
potential in crypto mining and wants to be at
the forefront of this industry. But not everything
is smooth sailing in the crypto world. Bored
ape investors are suing Yuga Labs, Sotheby's,
and 28 others as NFT prices take a plunge. Sotheby's
has denounced these allegations as baseless and
is fully prepared to defend itself in court.
It'll be interesting to see how this lawsuit
unfolds and what impact it might have on the
NFT market. In another legal battle, Gemini has
filed a request to dismiss the SEC lawsuit against
them. It seems like more and more crypto platforms
are opting for this route to defend themselves
against regulatory inquiries. We'll have to wait
and see if the request is granted and what it
means for the broader crypto industry. Now, let's
talk about market movements. While Bitcoin has
been struggling at the $26 ,000 mark, several
altcoins have experienced significant dumps of
over 20 % in just one week. Ape, Uni, LTC, and
Shibie have all taken a hit, emphasizing the
volatility and unpredictability of the crypto
market. Switching gears, let's briefly touch
on the ongoing Ripple V SEC case. This legal
battle is far from over. and there are two critical
deadlines that everyone needs to keep in mind.
The outcome of this case could have significant
implications for the entire cryptocurrency industry,
so it's definitely worth keeping a close eye
on. Now let's talk about the latest hype in the
crypto world, FriendTech. This Web3 social app
has been generating a lot of buzz and is racking
up daily fees driven by speculation of an upcoming
airdrop. It's always exciting to see new projects
capturing the attention of the crypto community.
Shebarium, another project in the crypto ecosystem,
has recently been taken into private mode. While
there were initial hiccups, we can expect a relaunch
in the near future. It'll be interesting to see
how they address the challenges and what improvements
they bring to the table. Shifting our focus back
to Bitcoin, the BTC Fear and Greed Index is indicating
a level of less than 40, something we haven't
seen in the past eight months. This metric reflects
the sentiment and emotions of market participants,
and a low score suggests increased fear and caution
among investors. It's a reminder of the ever
-changing dynamics of the crypto market. Have
you ever wondered which countries are the most
expensive and cheapest for mining Bitcoin? Well,
according to recent data, Italy takes the crown
as the most expensive nation, while Lebanon offers
the cheapest mining costs. It's fascinating to
see how mining economics can vary depending on
the location. Let's talk about Shiba Inu, one
of the popular cryptocurrencies. Despite a 22
% weekly disaster, there are three important
things to keep an eye on this week. The cryptocurrency
recently experienced a rejection at a key resistance
level, highlighting the importance of support
and resistance levels in technical analysis.
The key levels to watch are $0 .0000008, $0 .0000007
for support, and $0 .00000085, $0 .0000001 for
resistance. Now let's touch on the concept of
Bitcoin ordinals. Did you know that there are
currently over 25 .6 million inscriptions on
the Bitcoin network? These ordinals carry significant
cultural and historical value within the crypto
community. It's another example of how the blockchain
technology is evolving beyond just financial
transactions. Unfortunately, not all platforms
stand the test of time. Recur, an NFT platform
that raised $50 million two years ago, has decided
to shut down. However, the platform plans to
transfer all NFT media and metadata to a decentralized
storage protocol, ensuring that users will still
have access to their NFTs even after the closure.
It's great to see measures being taken to protect
the interests of users in the face of platform
shutdowns. Lastly, let's talk about Cardano's
rise in the NFT market. Though they might have
been late to the party, Cardano is slowly making
its mark as a dominant player in the NFT space.
It's interesting to see how different blockchain
platforms are carving out their niches in this
rapidly growing sector. Privacy is a crucial
aspect of the crypto industry. And it's a topic
that Adrian Brink the co -founder of Anoma and
Nomada feel strongly about. In an interview,
he emphasized that without privacy, crypto could
cease to exist. It's a reminder of the importance
of privacy -focused technologies and the ongoing
debate around regulatory measures and individual
rights. So that wraps up our tour of the latest
crypto news. From Thor chains, token resilience,
to legal battles and market movements, there's
never a dull moment in the world of cryptocurrency.
Stay tuned for more updates as the crypto landscape
continues to evolve. Crypto's anonymity has long
been praised as one of its foundational principles,
but the tides are turning in the conversation.
The question arises, can crypto survive without
anonymity? Let's dive deeper into some recent
developments in the crypto world. First, let's
talk about DYDX chain validators and stakers
and how they play a role in keeping the ecosystem
unharmed. One of their main responsibilities
is to refrain from engaging in MEV, Minor Extractable
Value, activities. MEV refers to the additional
profits that miners can potentially make by manipulating
transactions or front -running trades. By avoiding
these activities, DYDX contributors ensure fairness
and integrity within the ecosystem. Additionally,
Proper storage of signing keys is crucial. These
keys are used to verify and authorize transactions,
so safeguarding them prevents unauthorized access
and potential security breaches. In recent news,
Vitalik Buterin, one of the co -founders of Ethereum,
sent $1 million worth of ETH to Coinbase. Speculation
surrounds this move, with some suggesting that
Vitalik may be preparing to sell his ETH holdings.
Others believe that he might be transferring
his holdings to Coinbase's Layer 2 blockchain
base. While the true motive behind the transaction
remains uncertain, it highlights the dynamic
nature of the crypto space and the various possibilities
that arise. Speaking of dynamics, China's proposed
digital identity system has raised concerns about
privacy in the metaverse. The system aims to
gather personal information about metaverse users
and store it permanently. This raises questions
about individual autonomy and control over personal
data. The metaverse, which encompasses virtual
worlds and online communities, thrives on anonymity
and pseudonymity. Introducing a system that collects
personal information goes against the grain of
what many users value in the metaverse. On the
subject of investments, Coinbase has made a notable
move by purchasing equity in Circle. Circle is
the company behind USDC, a stablecoin that was
launched in 2018. This investment demonstrates
Coinbase's commitment to future developments
and advancements in the stablecoin market. As
cryptocurrencies continue to gain mainstream
adoption, stablecoins like USDC play a crucial
role in providing stability and bridging the
gap between traditional finance and the crypto
world. Let's shift gears and talk about Ripple's
XRP. The recent drop in Bitcoin's value has had
a significant impact on Ripple's price, leading
to a downturn. However, amidst this downward
trend, there is a glimmer of hope. The price
of XRP is approaching a strong support zone marked
by the 200 -day moving average. Technical analysis
suggests that this support level could potentially
trigger a short -term interruption in the prevailing
downtrend. It's essential to keep an eye on these
technical indicators while considering the broader
market forces at play. Another major cryptocurrency,
Ethereum, has experienced a significant drop
in price. After weeks of consolidation below
a key resistance level, Ethereum's price has
finally made a substantial move to the downside.
While there are still support levels to consider,
the overall sentiment is not optimistic. Technical
analysis indicates that things are looking challenging
for ETH, and it remains to be seen how low the
price may go. As always, the crypto market is
known for its volatility and unpredictable nature,
so it's crucial to stay informed and make decisions
based on thorough analysis. In the legal realm,
a group of Bitcoin developers is fighting back
against a lawsuit brought by Craig Wright's crypto
company. The lawsuit claims ownership of a substantial
amount of BTC. The outcome of this legal battle
could have significant implications for Bitcoin
and the broader crypto community, testing the
boundaries of ownership and decentralization.
Taking a broader look at the crypto market, Bitcoin
dominance has once again risen, while altcoins
like ADA, BNB, Matic, and AVAX have retraced
further. Interestingly, Akash Network's AKT has
emerged as a new representative among the top
100 altcoins after experiencing a 12 % daily
surge. The altcoin market always presents opportunities
for growth and volatility, and it's essential
to keep track of these market movements to make
informed investment decisions. Shifting gears,
let's discuss the case against Ripple, XRP, and
the potential mistake made by the SEC. A legal
expert believes that the SEC committed a massive
error in their case against Ripple. This case
has significant implications for the future regulation
of cryptocurrencies and the clarity surrounding
the classification of digital assets. As the
case unfolds, it will be interesting to see how
it shapes the regulatory landscape for the crypto
industry as a whole. Moving away from legal matters,
let's delve into the world of decentralized autonomous
organizations, DOs. Gitcoin, a prominent DO,
recently faced backlash, reigniting the age -old
debate of whether DOs are truly superior to traditional
firms. The incident underscores the inherent
challenges and complexities involved in governing
decentralized systems. While DAOs bring new possibilities
for collaboration and decision -making, they
are not immune to controversy and complications.
On a lighter note, let's talk about Seed Phrase,
a DJ who wears a crypto -punk helmet while spinning.
With their debut single Angels released, Seed
Phrase aims to let the music speak for itself
and overcome skepticism. The intersection of
art and crypto continues to expand, providing
unique experiences and expressions within the
crypto community. Unfortunately, not all news
in the crypto world is positive. Another crypto
bridge has collapsed as a DeFi lender on the
Optimism Network suffered a $7 million attack.
The incident highlights the ongoing challenges
of securing decentralized financial systems and
the need for robust security measures. While
the DeFi space offers immense opportunities,
it is crucial to remain cautious and stay informed
about potential risks. In social media news,
Elon Musk, the founder of Tesla and a prominent
figure in the crypto space, announced plans to
eliminate Twitter's block feature. This decision
has sparked an outcry among users who cite safety
concerns on the platform. The move raises questions
about the role of social media platforms in regulating
user interactions and balancing freedom of expression
with user safety. Lastly, let's talk about the
recent flash crash in Bitcoin's price, which
led to a downturn in the entire crypto market.
Experts speculate on the various factors that
triggered the crash, ranging from Elon Musk's
tweets to concerns surrounding Evergrande, a
Chinese real estate conglomerate. As Bitcoin
experiences fluctuations, it's essential to keep
a close eye on market trends and stay updated
on the latest developments that may impact its
price. In conclusion, the crypto world is a dynamic
and ever -evolving space where anonymity, governance,
investments and market trends intersect. The
recent developments discussed here shed light
on the complexities and opportunities within
the crypto ecosystem. It is crucial to stay informed,
conduct thorough analysis, and approach the crypto
market with critical thinking to navigate its
inherent volatility and make well -informed decisions.
In other news, a joint university study has found
an intriguing connection between belief in God
and trust in artificial intelligence, AI. It
seems that people who strongly believe in God
are more willing to trust advice from AI rather
than humans. It's quite an interesting finding
and brings up some thought -provoking questions
about the relationship between spirituality and
technology. Speaking of AI, there's an exciting
new exhibition in Los Angeles that showcases
AI -generated poems inspired by Allen Ginsberg's
photographs. It's like having an AI -powered
Allen Ginsberg creating beatnik -style poems.
The fusion of technology and art continues to
evolve and create fascinating works. Now, let's
move on to some legal matters. Sam Bankman Fried,
the founder of FTX, is requesting a regular release
from jail. His defense seems to be centered around
blaming his lawyers for the situation. They argue
that he needs better access to evidence. It's
always interesting to see how legal strategies
unfold, especially when lawyers themselves become
part of the defense. In another legal battle,
a token founder claims to have lost a significant
amount of money and his house in a scam orchestrated
by individuals pretending to be representatives
of a major digital currency exchange. It's a
cautionary tale reminding us to be vigilant and
cautious in the crypto space. Now let's dive
into the world of crypto Twitter. Last week,
there were many rumors floating around about
Tether's exposure to the bankrupt Chinese property
giant Evergrande. As with any social media platform,
unsubstantiated rumors are abundant, and it's
important to take everything with a grain of
salt. In a recent federal court case, the judge
affirmed the sanctions imposed on Tornado Cash.
Some users argued that these sanctions violated
their First Amendment rights, but the judge dismissed
those claims. It's an important decision that
sets a precedent in the intersection of crypto
and legal matters. Gemini, a major cryptocurrency
exchange, is pushing back against a lawsuit filed
by the SEC. Lawyers for Gemini argue that the
SEC cannot prove that the company was selling
securities to customers, and they are fighting
to have the case dismissed. Legal battles between
regulators and crypto companies are always worth
keeping an eye on. Next, we have some unfortunate
news in the NFT space. Despite raising $50 million
in funding and having prominent backers, NFT
platform Recur has announced that it will be
shutting down. It's a reminder that even with
substantial resources and support, success in
the fast -changing world of NFTs is not guaranteed.
In the world of decentralized finance, DeFi,
Base network has been experiencing a surge in
activity and fees. The crypto app linked to Twitter
has been gaining popularity and attracting more
users to the Coinbase incubated base network.
It's exciting to see the growth of DeFi and its
integration with social platforms. Now let's
talk about meme coins. The market has been down
and meme coins known for their higher risks have
taken a significant hit. Additionally, the launch
of Shibarium last week contributed to the drop
in the price of Shibi. It's a reminder that meme
coins can be subject to extreme volatility and
unpredictable market dynamics. And finally, we
have a lucky solo miner who recently achieved
a major milestone. This miner was able to snag
a Bitcoin block reward worth a staggering $160
,000. It's a testament to the potential rewards
that can come from mining cryptocurrencies. even
for individuals operating on their own. That's
all for this week's news roundup. Stay tuned
for more updates on the fascinating world of
technology, crypto and AI. Take care and see
you next time. Have you heard the latest news
from the world of cryptocurrency? Let's dive
right in. First up, we have an interesting story
about Bitcoin mining. It seems that a lucky miner
with a mere one PHS and hash power is enjoying
far fewer resources than the major industrial
scale mining pools. It just goes to show that
even with limited resources, you can still make
your mark in the world of Bitcoin. Moving on,
China is making headlines once again with its
plans to take its social credit system to the
metaverse. Reports suggest that officials in
China have proposed a government controlled internet.
to a UN Metaverse focus group. This raises many
questions about internet freedom and privacy,
and it will be fascinating to see how this unfolds.
In Ethereum news, there has been some activity
involving ETH linked to Vitalik Buterin, the
co -founder of Ethereum. Approximately $1 .3
million in Ethereum has either been sent to an
8 -year -old address or used to buy altcoins
on Coinbase. It's always intriguing to follow
the movements of influential figures in the crypto
world. When it comes to global crypto regulation,
things can get quite complicated. Traditional
finance lenses struggle to assess cryptocurrencies
accurately, and determining the responsible oversight
agencies can be challenging. As the crypto industry
continues to evolve, it will be crucial for regulators
to keep up with the pace. In a recent development,
Binance's euro transfers are still available,
despite some confusion caused by an erroneous
tweet. PaySafe, a payment service provider, confirmed
that Binance users can conduct euro transactions
via SIPA until September 25th. It's essential
to clarify such information promptly to avoid
any unnecessary panic within the crypto community.
Now, let's delve into the world of AI investments.
ARK, Cathie Wood's investment firm, believes
that the market is not fully appreciating some
AI investments. They caution against solely focusing
on mega -cap tech giants and urge investors to
consider other promising opportunities in the
AI sector. It's always interesting to see where
the next big breakthroughs in technology will
come from. Speaking of AI, a recent report from
the international labor organization, ILO, suggests
that while AI won't lead to an unemployment crisis,
jobs are still at risk. In fact, The ILO highlights
that working women are more vulnerable to the
threats posed by artificial intelligence. As
society continues to embrace AI, it's crucial
to have discussions about job security and equitable
opportunities. In a concerning case, the SEC
alleges that a crypto fund misled clients with
promises of extraordinary returns. Titan, a crypto
product, claimed to offer annual returns of over
2 ,700%. But it is now facing legal action. This
serves as a reminder to investors to thoroughly
research any investment opportunities and exercise
caution before diving in. Moving on to Bitcoin,
we have news of institutional investors selling
$55 million worth of Bitcoin in the past week.
This happened amidst a widespread crypto sell
-off and delays from the SEC regarding ETF decisions.
The market sentiment plays a significant role
in the movement of crypto assets, and it will
be interesting to see how institutional investors
navigate these fluctuations. Despite a ban on
blockchain games on popular PC marketplace Steam,
developers are finding ways to work around or
within the rules. Crypto and NFT games are still
launching on Steam, showcasing the resilience
and adaptability of the gaming industry. It's
exciting to see how blockchain technology is
being integrated into the world of gaming. In
a significant acquisition, Coinbase has purchased
a stake in Circle, leading to the dissolution
of the USDC Stablecoin Issuer Center. This consolidation
of operations is an interesting development in
the stablecoin space and could have implications
for the wider cryptocurrency ecosystem. Now,
let's talk about Friend .Tech, the latest obsession
in the crypto world. Celebrities are signing
up on this tokenized social media platform, which
has already surpassed the popularity of Tron
and Uniswap. However, some critics raise concerns
about the sustainability of this Ponzi scheme.
It's worth keeping an eye on FriendTech to see
how it evolves and whether it can live up to
the hype. The founders of FriendTech recently
shared their plans for the tokenized social media
platform. They discussed what's next for the
platform and admitted that they need to catch
their breath following the boom in popularity.
It's always interesting to hear from the minds
behind innovative crypto projects and see how
they navigate the challenges that come with success.
Moving on to the intersection of gaming and crypto,
we have esports and gaming influencers earning
significant amounts on friend .tech. FaZe Banks
and Nadeshot, titans in the esports and gaming
world, are cashing in on this buzzy social token
app. It's an exciting time for the convergence
of these two industries and the monetization
opportunities it presents. K -pop fans, listen
up. Blackpink, one of the biggest K -pop groups,
has launched a metaverse experience on Roblox.
Blackpink. The palace will provide fans with
interactive experiences and is set to evolve
over the next year. This showcases the growing
integration of entertainment and the metaverse,
offering fans unique ways to connect with their
favorite artists. Lastly, we have an update regarding
Friend .Tech, the red hot social crypto app.
The app has renamed its token, likely in response
to regulatory concerns. The term shares has been
dropped, raising questions about the legality
of the app. It will be essential to closely monitor
any regulatory developments in this space to
ensure investor protection and adherence to existing
laws. And that's a wrap on the latest news in
the crypto world. Stay tuned for more updates
and exciting developments as the industry continues
to evolve and capture our attention. First up,
head over to Fountain .com and give us a thumbs
up, share, or even better, hit that subscribe
button. Then you can also find us on NosterBuild,
Spotify, Amazon Music, RSS .com, Pandora, Samsung
Podcasts, Apple iTunes, and iHeartRadio. Phew,
we're all over the place, huh? So go ahead and
show some love on whichever platform you prefer.
We're grateful for any support that comes our
way. It means the world to us. Whether you're
liking, sharing, or subscribing, Every little
action helps us grow and bring you more awesome
content. So once again, thank you for listening
and supporting the Bitcoin Street Journal. We
appreciate you. In today's episode, we covered
a range of topics, including the laughable non
-potential benefits of EuroCBDC, the growth of
Binance's user base, the latest updates in the
Bitcoin market, regulatory developments surrounding
Bitcoin ETFs, and the ups and downs of various
cryptocurrencies and related markets. We also
explored the intersection of crypto and AI, security
concerns in the crypto industry, and interesting
developments in the NFT space. Additionally,
we discussed some fascinating stories related
to AI, trust in technology, and legal battles
in the crypto world. Thanks for tuning in. And
don't forget to subscribe for more exciting episodes.