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Bitcoin Stages Impressive Rally 🤩

BTC has bounced back after yesterday's dip below $30,000 — but it could face an uphill struggle as it attempts to accelerate further. Although it reached highs of $31,673.92 on Wednesday, a persistent downtrend means it could be challenging to break $34,000. A number of altcoins have also secured double-digit gains over the past 24 hours.

ETH Developer Violates Bail Terms 😱

An Ethereum developer has violated the terms of his bail by allegedly accessing his Coinbase account. Virgil Griffifths is accused of attempting to access his ETH assets back in May. He was ordered not to do so as he awaits trial. Prosecutors claim he participated in North Korea's efforts to launder money through crypto so it could sidestep U.S. sanctions.

Maker Foundation is Shutting Down 🚨

The Maker Foundation is shutting down, meaning that the DeFi protocol is going to be fully decentralized. Rune Christensen says all responsibilities relating to operations will now switch over to MakerDAO. As a result, decisions about its future will now be "determined by thousands or perhaps millions of engaged, enthusiastic community members."

EU Wants to Ban Anonymous Wallets 🇪🇺

New proposals from the European Commission are calling for stricter regulation of anonymous crypto wallets and transactions. Under planned measures, companies that facilitate transactions would need to collect data on senders and recipients. It's hoped this would help law enforcement agencies to clamp down on money laundering.

#NYC #NetworkingYourCrypto

How Low Will Bitcoin Go? 😬

A poll of crypto experts suggests that we'll see Bitcoin's price tumble further in this cycle. On average, the 42 forecast that BTC will fall as low as $25,112. It's not all bad news — just 17% of Finder's panel believe that we're currently in a bear market. Some are also confidently predicting that BTC will break records and enter into six-figure territory this year.

Police Destroy Mining Rigs 🥺

Malaysian authorities have crushed more than 1,000 confiscated Bitcoin mining rigs with a steamroller. It's believed the undercover farm stole electricity worth millions of dollars. Six people have been fined and sentenced to eight months behind bars. Nationally, it's projected $21.3 million of energy has been siphoned for illegal activities over the past year.

Ethereum Co-Founder Quits Crypto 😞

Anthony Di Iorio has announced he is quitting the world of crypto — in part because he fears for his safety. The 48-year-old has had a security team for four years, meaning there’s someone traveling with him wherever he goes. He told Bloomberg: "It’s got a risk profile that I am not too enthused about. I don’t feel necessarily safe in this space."

New Stablecoin for El Salvador? 👀

El Salvador's government could release a stablecoin that's pegged to the U.S. dollar, according to reports. Local media obtained videos of private meetings discussing the idea that were attended by brothers of President Nayib Bukele. One brother even said that they would like all cryptocurrencies to be legal tender in the country — not just Bitcoin.

#NYC #NetworkingYourCrypto

Bitcoin Narrowly Avoids Grim Weekly Close 🥺

BTC finished Sunday at $31,785 — and *almost* recorded its worst weekly close of 2021 so far. The current year-to-date low stands at $31,518… and was seen on July 11. Nerves ran high over the weekend after the Grayscale Bitcoin Trust embarked on one of its biggest unlockings to date. But so far — at least — it seems this hasn't driven prices down.

Elon Musk Gives Himself 'DOGE Eyes' 🤩

Forget laser eyes… Tesla CEO and Dogecoin enthusiast Elon Musk is starting a new trend. The billionaire has changed his profile picture on Twitter, showing him wearing sunglasses with the world's most famous shiba inu appearing in the reflection. Unfortunately, the endorsement hasn't been enough to stem the joke coin's dramatic losses.

John McAfee 'Was Broke' When He Died 😔

A new report suggests John McAfee was worth nothing when he died — and had spent most of his $100 million fortune on "bizarre" properties. The Daily Mail has spoken to Mark Eglinton, an author who is releasing a biography about the antivirus software pioneer John's wife Janice says he was upfront about being broke and had "never felt more free."

Binance Burns BNB Tokens Worth $390M 🔥

Binance's CEO Changpeng Zhao has confirmed that the exchange has burned BNB tokens worth $390 million. This means that 1,296,726 tokens have now been taken out of circulation. Token burns take place once every quarter, and this is the second-biggest amount to be destroyed in the company's history.

#NYC #NetworkingYourCrypto

Our New Podcast Has Dropped! 🎙

The CoinMarketRecap podcast is released every Friday — bringing you all the week's crypto stories in an accessible way, along with in-depth interviews with the people who make the news and fun discussions on emerging trends. We're now available in all the places you get your podcasts — including Apple Podcasts, Spotify and Give us a listen!

DOGE, the SEC and… Apple 😱

CoinMarketCap’s very own Molly-Jane Zuckerman joined us to discuss the stories that caught her eye this week. One of them was the brutal Twitter thread written by Jackson Palmer, who created DOGE as a joke alongside a fellow software engineer. She also revealed why rumors that spread on Crypto Twitter aren't always to be believed.

The Dangers of Crypto Addiction 🚨

It's a topic that often isn't spoken about — but it's an important one. A therapist at one of the only clinics that specializes in treating crypto addiction says cases are rising. Tony Marini talked us through the warning signs that someone might have a problem — and he says that being hooked on trading can lead to other dependencies, too.

Booking Holidays with Bitcoin ☀️

Travala's Juan Otero also joined us to discuss whether booking holidays using cryptocurrency is a good idea. We asked him whether Bitcoin was too volatile to use — especially as a $2,000 holiday paid for with BTC in September 2020 would have had a cash value of $13,000 by April.

#NYC #NetworkingYourCrypto

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