Market
Mining
Bitcoin hashrate plummets as Texas-based miners suspend operations
Bitcoin mining hashrate has dropped to a five-months low after miners in Texas temporarily suspended their operations.
NFTs
Ryder Ripps hires lawyers ahead of legal showdown with Bored Ape’s Yuga Labs
Ripps and Cahen believe the court will vindicate them and protect their freedom of speech right.
Merge
Ethereum Merge will not reduce gas fees, DeFi researcher says
Ethereum’s high gas fees have pushed many users to rival L1 blockchains like Solana, Cardano etc.
People
JPMorgan loses 3 executives to crypto industry jobs
Several top executives of traditional firms have left their jobs for web3 projects.
Legal
Vermont joins multistate investigation into Celsius
State authorities in Texas, Alabama, and Vermont are investigating the operations of crypto lending firms like Celsius over offering unregistered securities.
Bear Market
Bitcoin dips under $20K as US inflation rises over 9%
US President Joe Biden has said the latest inflation figure is “unacceptably high” and “out of date.”
DeFi
MicroStrategy’s Michael Saylor says Ethereum is a security
Saylor says a cryptocurrency can only be a commodity if there is no issuer and no one is making any decisions on the network.
Legal
Solana sued for being ‘centralized,’ ‘security’
The network’s developer, founder, and partners are accused of profiting from the sale of an unregistered security.
Rumors
FatMan Terra reveals inner workings of alleged DOCK pump and dump scheme
FatMan Terra said his friend was not part of DOCK’s team but paid for a BitBoy Crypto shilling video and billboard advertisements to pump the coin.
Analysis
Bear market sentiments begin to ‘cool off’ as Ethereum records another week of inflows
Ethereum has seen a modest turn around in investment interest as the bearish market sentiments continue to recede.
People
Ripple co-founder Jed McCaleb to finish selling XRP holdings by July 16
It took Jed McCaleb eight years, one month, and 25 days to finish selling all of his 9 billion XRP holdings.
Analysis
Bitcoin holders should expect further price decline says Glassnode
A comparison of this bear market with previous ones showed that Bitcoin holders may still have to deal with extra selling pressure.