16/06/2024. Weekly CryptoNews Digest (June, 10 – June, 16)

Greetings everyone, and welcome back to the MNO blog, your trusted source for insightful information on the HYIP industry since 2007. As a valued reader, you’re likely familiar with my Weekly CryptoNews Digest, which summarizes the most significant crypto events of the week.

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In this installment I’ll be diving into the top news stories from June 10 to June 16, 2024. I’ll be sharing my insights and observations on breakthroughs in blockchain technology, innovative investment opportunities, and the most significant events and updates that have caught my attention. So, let’s dive in and explore the world of cryptocurrency together!

BITCOIN REBOUNDS FROM MONTHLY LOW — WATCH THESE BTC PRICE LEVELS NEXT

This week Bitcoin has bounced back from a one month low, but analysts are warning that the cryptocurrency price action is still uncertain. According to the latest BTC price analysis, the realized price levels of Bitcoin hodlers are the ones to watch if the established support at $65,000 fails to hold.

The analysis suggests that if the price of Bitcoin falls below $65,000, the next level of support to watch is around $58,000. However, if the price of Bitcoin falls below $58,000, the next level of support to watch is around $50,000.

The analysis also suggests that the price of Bitcoin could potentially break out above the current resistance level of $70,000 if the cryptocurrency’s price action continues to trend upwards.

TRUMP DEMANDS ALL FUTURE BITCOIN MINING TAKE PLACE IN THE US

United States Presidential hopeful Donald Trump, and let’s be honest as things stand the most likely winner, has expressed his desire for all future Bitcoin to be mined in the United States following a meeting with key industry figures. The meeting, which took place on June 12, saw Trump meet with Riot Platforms CEO Jason Les and its head of public policy, Brian Morgenstern.

According to reports, Trump emphasized the importance of mining Bitcoin in the US, citing the potential economic benefits and job creation that could result from the industry’s growth. The meeting was seen as a significant development in the ongoing debate over the future of Bitcoin mining and the role of the US in the global cryptocurrency landscape.

The meeting was also seen as a sign of the growing recognition of the importance of the cryptocurrency industry, with many experts predicting that the US will play a major role in shaping the future of Bitcoin and other digital currencies.

WALL STREET MUST BE ACCOUNTABLE FOR BITCOIN MINING EMISSIONS — GREENPEACE

Greenpeace has accused Wall Street giants such as BlackRock and Vanguard of contributing to the environmental harm caused by Bitcoin mining. The environmental group claims that the two investment firms, which manage trillions of dollars in assets, are complicit in the environmental damage caused by the energy-intensive process of mining Bitcoin.

According to Greenpeace, BlackRock and Vanguard have invested heavily in companies that provide services to the cryptocurrency industry, including mining equipment and energy providers. The group argues that this investment is contributing to the environmental harm caused by Bitcoin mining, which is estimated to consume as much energy as a small country.

Greenpeace is calling on BlackRock and Vanguard to divest from companies that are contributing to the environmental harm caused by Bitcoin mining. The group is also urging the investment firms to use their influence to promote sustainable practices in the cryptocurrency industry.

The controversy has sparked a heated debate in the cryptocurrency community, with some arguing that the environmental impact of Bitcoin mining is being overstated and others calling for greater transparency and accountability in the industry.

BITCOIN BANK PROPOSAL GAINS MOMENTUM IN EL SALVADOR

The Bank for Private Investment in El Salvador has proposed a new banking system that would allow customers to hold and use Bitcoin as a form of currency. The proposal, which has gained momentum in the country, aims to “diversify the financing options” available to investors by offering accounts in both US Dollars and Bitcoin.

The proposal has been met with enthusiasm from cryptocurrency enthusiasts and investors, who see it as a major step forward in the adoption of digital currencies. The Bank for Private Investment has stated that the new system would provide a secure and transparent way for investors to manage their assets, and would also help to increase financial inclusion in the country.

The proposal is still in the proposal stage, but it has already generated significant interest and attention in the cryptocurrency community. If implemented, it would be a major milestone in the adoption of Bitcoin and other digital currencies as a form of currency.

MICROSTRATEGY UPSIZES STOCK SALE TO $700M TO BUY MORE BITCOIN

MicroStrategy, a business intelligence company, has upsized its convertible senior notes offering to $700 million, with plans to use the proceeds to buy more Bitcoin. The company had initially planned to raise $400 million through the offering, but has now increased the size of the offering to $700 million.

The additional proceeds will be used to purchase more Bitcoin, as well as for general corporate purposes. MicroStrategy has been a vocal advocate for Bitcoin and has already invested a significant portion of its cash reserves in the cryptocurrency.

The company’s decision to upsized its stock sale is seen as a vote of confidence in the cryptocurrency market and a sign of its commitment to Bitcoin. The news has been welcomed by cryptocurrency enthusiasts and investors, who see it as a positive development for the industry.

LIL PUMP AND DUMP: RAPPER TATTOOS ‘SOLANA’ ON FOREHEAD

Rapper Lil Pump has sparked controversy after getting a tattoo of the word “Solana” on his forehead, reportedly after selling SOL tokens. The tattoo has sparked mixed reactions from fans and the crypto community, with some criticizing the move as a publicity stunt and others celebrating Lil Pump’s enthusiasm for the cryptocurrency.

The tattoo has been met with both praise and criticism on social media, with some fans expressing admiration for Lil Pump’s bold move and others accusing him of being a “shill” for the Solana cryptocurrency. The Solana Foundation, which is behind the Solana blockchain, has not commented on the tattoo.

Lil Pump’s decision to get the tattoo has also sparked debate about the role of celebrities in the crypto space. Some have praised his enthusiasm for the cryptocurrency, while others have criticized him for using his platform to promote a specific coin.

GEMINI SETTLES WITH NYAG FOR $50 MILLION OVER EARN PROGRAM

Gemini, a cryptocurrency exchange and custodian, has reached a $50 million settlement with the New York Attorney General’s Office (NYAG) over its Earn program, which allowed users to earn interest on their cryptocurrency holdings.

The settlement resolves allegations that Gemini’s Earn program was unregistered and violated New York’s Martin Act and General Business Law. The NYAG alleged that Gemini’s Earn program was an unregistered securities offering and that the company failed to disclose material information to investors.

As part of the settlement, Gemini will pay a $40 million fine to the NYAG, as well as an additional $10 million to the NYAG’s Investor Protection Trust Fund. The settlement does not require Gemini to admit to any wrongdoing.

Gemini has agreed to implement new compliance measures to ensure that its products and services comply with New York state securities laws. The settlement is subject to court approval.

The NYAG’s investigation into Gemini’s Earn program began in 2020, and the settlement marks a significant development in the ongoing regulatory scrutiny of the cryptocurrency industry. The settlement serves as a reminder to cryptocurrency companies that regulatory compliance is crucial in the rapidly evolving cryptocurrency landscape.

For Gemini, the settlement is a major regulatory setback, but it also provides a clear path forward for the company to restructure its Earn program and ensure compliance with New York state securities laws.

That’s all for now on MNO. I’d like to extend my heartfelt gratitude to each and every one of you for being part of this community and staying informed. I wish you a wonderful weekend and a prosperous week ahead, filled with good luck and success. You’ve earned it!

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