Cryptonews

Turn the calendar back to May 1—when the US FinCEN pounced upon Huione and tacked a “primary money laundering concern” badge on its lapel under the all-hallowed PATRIOT Act. What followed was a hallelujah chorus of forensics experts, divided right down the middle—like a Yorkshire pudding at a boarding school, really—over whether Huione had actually shut up shop, or was just pulling an exceedingly dark disappearing act.

Here’s the breakdown, my financial detectives:

On a sun-dappled July 7, Grayscale announced it had completed the ritualistic fund shuffle for the DeFi Fund, Smart Contract Fund, and Decentralized AI Fund. The magic happened at the end of trading on July 3—presumably after an afternoon of biscuits and strenuous spreadsheet wrangling.

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?