MARKET:
Chop continues, but some bullish price action preceded the end of Q2. Many experienced traders feared significant additional downside if Bitcoin and Ethereum couldn’t clear the $35k and $2200 levels respectively. They did, and many believe we are generally still in a bullish long term market.
Last week’s double bottom created a lot of panic selling and many left the market at a loss as weak hands were shaken out.
NEWS:
Jim Cramer is bullish Ethereum for some right and some wrong reasons…but he has flipped his bias from BTC to ETH.
Andreeson Horowitz (a16z) launches largest crypto venture fund ever - $2.2 billion
Jay Z (Shawn Carter) purchased hov.eth (Ethereum Naming Service) and changed his Twitter avatar to a cryptopunk
The B Word, July’s Bitcoin Event, will feature Jack Dorsey and Elon Musk
Morgan Stanley bought Greyscale Bitcoin Trust
Formula 1 makes $100m sponsorship deal with Crypto.com
Brady/Bundchen invest in crypto exchange FTX
If you can’t beat em, join em. Banks partner with NYDIG and NCR to allow customers to buy Bitcoin
Soros Fund Management is trading Bitcoin
This isn’t necessarily a good thing…they have billions of capital available to short $BTC
REGULATORY:
Things are really heating up on the regulatory front. There was a congressional hearing yesterday and this article sums up what happened.
Well written article summarizing China's crypto crackdown
Regulators taking a closer look at DeFi - CFTC and SEC
POD O’ THE WEEK:
Will Regulations Kill DeFi - Crypto Attorney Jake Chervinsky (Rock Star)