Cryptonews

Ah, brave reader, ignore these at your own peril—or ignore them for peace of mind. Your wallet, your circus, your monkeys.

The 1-hour chart, a snapshot of the present, reveals a tale of resilience. Like a phoenix rising from the ashes, Bitcoin has emerged from the depths of despair, its price buoyed by the unwavering support of the faithful. The chart, a canvas of green and red, tells the story of a short-term recovery, as the cryptocurrency tests the waters of resistance, its fate hanging precariously in the balance. 🤔

And now, here we are, watching as it soars to a seven-day high, riding the waves of momentum and on-chain interest like a surfer with too much caffeine. 🌊

Brad Garlinghouse, Ripple CEO and potential Bond villain-in-training, is all set to testify before the Senate Banking Committee on July 9. The hearing comes with a title so grand (“From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets”) you’d think it was a TED Talk, or possibly a self-help book.

This decision comes on the heels of the Treasury Department’s Office of Foreign Assets Control (OFAC) yanking Tornado Cash off its sanctions list earlier this year. The government claimed that made the whole shebang moot, and I reckon they’re right 🤷‍♂️.

While exchange inflows swell most alarmingly and traders hurl themselves at short positions with the zeal of a dowager at closing time, an inconspicuous reversal tiptoes about, brewing up a potential plot twist for the ages.

Why, you ask? Well, according to the company, Ethereum is the future of programmable finance, and they’re not about to miss the boat. Plus, who doesn’t love a good ol’ fashioned pivot, right?

Recently, Bit Digital made a bold move by shifting its entire corporate strategy from Bitcoin to Ethereum. After a $172 million equity raise, the company has now accumulated over 100,000 ETH, making it one of the largest Ethereum-holding corporations globally. One can almost hear the collective sigh of relief from the Ethereum community. 🙌

Back in 2022, President Zelensky—the man, the myth, the meme—signed a bill granting virtual assets the right to exist without having to dress up as something else. It wasn’t quite legal tender (no one’s buying pierogies with Bitcoin yet), but it gave crypto enthusiasts the legal permission to wave ownership certificates around like Hogwarts letters.

Voices from the trenches, like XBTO and Kronos Research, argue that two contradictory worlds can exist hand in hand. On one side, we’ve got the corporate giants flaunting their institutional adoption, which smacks of Satoshi’s noble ethos of decentralization. Yet, it also signals a transformation—like a butterfly emerging from its blockchain chrysalis! 🦋