CoinDesk

The absence of an outright majority could hamper the passing of new legislation, including crypto regulations.

The protocol was one of the first ICOs on Ethereum, raising $8.6 million worth of ether in 29 minutes and setting the precedent for thousands of other ICOs in the years since.

Germany has been running down its coin stash since mid-June.

CoinDesk 20 Down 7%, Bitcoin Sinks by 5%, as Market Tumbles as Asia Trading Week Begins

Returning to their screens following the July 4 break, U.S. traders were confronted with prices that had plunged roughly 10% from pre-holiday levels.

The president’s chances of reelection remain 12% and his probability of dropping out stayed at 63%, according to traders on the crypto-based prediction market platform.

Two former executives of Tether-backed German tech company Northern Data have filed suit against the firm, alleging that they were wrongfully terminated after raising concerns about the company’s financial health and alleging tax evasion.

The latest in blockchain tech upgrades, funding announcements and deals. For the period of July 5-10.

Private equity firms are now looking at bitcoin miners in a much more different way after Core Scientific signed 200MW deal with CoreWeave in June, the company’s CEO said in an exclusive interview with CoinDesk.

The widely-followed sentiment metric hit extreme greed levels earlier in March near the local top of the crypto market, but now is pushing its limits in the opposite direction.

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The CoinDesk 20 Index dropped by 5.7% today, with every asset posting losses and LTC and ATOM leading the declines.

Before this morning’s jobs report, market participants put nearly 70% probability of lower rates in September, according to the CME FedWatch Tool.

The latest price moves in bitcoin (BTC) and crypto markets in context for July 5, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

“The German government still has over $2.3 billion worth of bitcoin, Mt. Gox has more than $8 billion, and the US government has over $12 billion,” one trader pointed out.

Software company MicroStrategy, which holds over 210,000 BTC, and bitcoin miner Hut 8 led declines as bitcoin dropped to the lowest level since late February.

The jobs data, due later Friday, is forecast to show that the pace of job additions in the world’s largest economy slowed sharply in June.

The news of the repayments added selling pressure on bitcoin and the larger crypto market after Mt. Gox announced last month its intention to start repayments in July.

Miners need to continually sell bitcoin rewards to keep operations afloat, and they are stressed during a market downturn.

While the industry was not mentioned in the party’s manifesto or on the campaign trail, Labour has said it will support tokenization and a central bank digital currency.

Traders previously warned of the bearish market reaction to Mt. Gox’s bitcoin repayments.

BTC slides to lowest since late February, breaching key price support.

Bitcoin’s volatility is expected to continue declining with every halving. The next one, scheduled for 2028, will render bitcoin four times as scarce as gold. Increasing retail and institutional adoption of this technology is also bound to decrease volatility structurally over time.

A wallet belonging to a German official entity moved its largest stash of BTC to exchanges earlier today, while Mt. Gox wallets showed activity for the first time in a month.

Markets that consistently trade below the 200-day SMA are said to be in a downtrend.

The decline in notional open interest masks bullish undercurrents.

Selling pressure from Bitcoin Cash (BCH) and lack of liquidity is the story to watch once Mt. Gox begins redemptions, writes Presto Research.

Solana’s SOL and dogecoin (DOGE) lead losses among major tokens, with the CoinDesk 20 index down 4.8%.

A federal judge overseeing the U.S. Securities and Exchange Commission’s case against Binance ruled that most of the case can proceed, but dismissed charges tied to the sale of BUSD and secondary sales of BNB.

Crypto twitterati showed no mercy as Polkadot published a transparency report detailing spending on $87 million of DOT tokens – a lot of it on marketing. PLUS blockchain tech news and project highlights from the past week.