EU Parliament Passes Message-Scanning ‘Chat Control’

The European Parliament has passed legislation allowing tech firms to scan messages for child sexual abuse material until 2028, a controversial law dubbed “chat control” by critics. EU lawmakers on Thursday largely voted against extending the regulation, dubbed “Chat Control 1.0,” but stopping it required 361 lawmakers to reject it. Only 314 voted to stop…

Bitcoin’s gets bullish signal from MACD. Next stop above $70,000?

Traders typically do not rely on a single indicator to determine market trends. But this particular MACD has proved reliable as a standalone gauge through the price crash from the record high of $126,000. Since October, negative crossovers have reliably marked the start of steeper declines, while positive crossovers have preceded meaningful recovery rallies –…

Bitcoin is Seeing a ‘Textbook’ Bottom as More Analysis Brings Back 2022

Bitcoin (BTC) is seeing a “textbook” bear-market bottom as speculators take profits on the trip toward $65,000. Key points: Bitcoin is repeating previous macro bottom behavior in a “textbook” manner, analysis argues. Short-term holders are taking profits on minor recoveries — something “characteristic of a bull market.” Doubts remain about speculators avoiding future capitulation. Analysis: Bitcoin…

Zcash Sets Ironwood Network Upgrade for July 28

Zcash’s Ironwood network upgrade, the solution to an “infinity” bug discovered in May on the privacy-focused blockchain’s main private transaction pool, Orchard, is set to go live on July 28.  Announced in June, Ironwood closes the current Orchard pool, prevents new activity in it and sets up a new private pool. Funds leaving Orchard would…

White House Says it Received no Democratic Response Related to SEC, CFTC Vacancies

White House officials claimed that they had “not received names” in response to requests to Senate Democrats for potential commissioners to two US financial regulatory agencies. In a Thursday letter to US Senate majority leader John Thune and minority leader Chuck Schumer, White House officials said that they had already solicited names from Senate Democrats…

Bitcoin Needs a Daily Close Above $64,700 to Seal Its Latest Rebound, Says Trader

Bitcoin (BTC) saw intraday highs after Thursday’s Wall Street open as US stocks rebounded on fresh Iran peace hopes. Key points: Bitcoin joins a risk-asset rebound as US President Donald Trump said that Iran “wants to make a deal” after the ceasefire breakdown. Crypto short liquidations near $100 million over 24 hours. Traders see important…

Swift Launches Blockchain, Announces Tokenized Deposit Pilot with 17 Banks

The world’s largest financial messaging network, Swift, said its blockchain-based ledger is ready for initial use after nine months of development. Seventeen major banks, including HSBC, Citi, BNP Paribas, UBS, ANZ, DBS and Standard Chartered, are preparing to pilot cross-border payments using tokenized bank deposits on the new ledger, Swift announced on Thursday.  The ledger…

Grayscale’s CFO exits after 7 years with crypto asset manager

The leadership change follows another executive departure. Last fall, managing director and head of distribution and partnerships John Hoffman left Grayscale, and just joined tokenized asset platform Ondo Finance last month. The company has also added Chief Marketing Officer Ramona Boston and Head of Index Steve Vanourny over the past few months. The departure comes…

UK Politicians Considering Permanent Crypto Donation Ban Amid Nigel Farage Scandal

Members of the UK’s ruling Labour party are considering a total ban on digital asset donations in response to Nigel Farage’s resignation from Parliament and the potential influence crypto billionaires had on his policies. The Guardian reported Thursday that Labour MPs are looking to overhaul existing rules on donations to political parties and candidates. Specifically,…

Bitcoin Reclaims 63k but Traders Fear Correction Before Deribit Expiry

Bitcoin (BTC) reclaimed the $63,000 mark on Thursday, but traders fear a correction ahead of Friday’s $1.4 billion options expiry on Deribit. The concerns stem from the US government bond yield climbing toward a level that many view as a warning sign. Is the $62,000 support level at risk? Key takeaways: Rising US Treasury yields…