BackCrypto Weekly: Strategy Sells Bitcoin, Trump's Crypto Windfall, and New Stablecoin Project

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Cointelegraph20h agoBusiness

Crypto Weekly: Strategy Sells Bitcoin, Trump's Crypto Windfall, and New Stablecoin Project

Bitcoin Strategy Donald Trump

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Strategy sold 3,588 Bitcoin for $216M to fund dividends.
Donald Trump defended his $1.4B crypto earnings while in office.
Over 140 companies joined a new US dollar stablecoin project, Open USD (OUSD).

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Strategy sold 3,588 Bitcoin for $216M to fund dividends. Donald Trump defended his $1.4B crypto earnings while in office. Over 140 companies joined a new US dollar stablecoin project, Open USD (OUSD). Ethereum's Vitalik Buterin outlined priorities for a new 'Lean Ethereum' strawmap.

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Bitcoin's recent 11% recovery, reaching near $64,000, is heavily dependent on the Federal Reserve's meeting minutes due Wednesday. The rally is based on the assumption of a weakening US labor market limiting the Fed's hawkish stance. The minutes will reveal if officials shared this concern in mid-June, potentially validating or undermining Bitcoin's recovery.

CryptoSlate

Developing·1h ago

Sberbank's Crypto Wallet Plan Signals Russia's Approach to Digital Assets

Sberbank plans to launch a crypto wallet and digital depository by Dec. 1, pending Russia's digital-currency law. This move could shift crypto activity within the banking system, but demand may still flow to offshore exchanges and P2P channels depending on regulatory details and access limits.

CryptoSlate

Developing·1h ago

Kraken Parent Company Payward Wins $22 Million Arbitration Against Auditor Mazars USA

Payward, Kraken's parent company, secured a $22 million arbitration award against former auditor Mazars USA. Payward alleges Mazars withdrew from a 2022 audit without cause, contributing to a broader campaign against crypto firms.

Cointelegraph

Developing·2h ago

Bitcoin ETFs See Inflows, Focus on BlackRock's IBIT for Sustained Demand

U.S. spot Bitcoin ETFs experienced significant net inflows on July 6, totaling $265.7 million. BlackRock's IBIT led with $209.4 million, prompting questions about whether this marks sustained institutional demand or a temporary relief rally after recent selling pressure.

CryptoSlate

Developing·2h ago

Tether's USDT and Circle's USDC Carving Out Distinct Niches in Crypto

Tether's USDT and Circle's USDC are increasingly becoming chain-specific, with USDT dominating payments and USDC leading in decentralized finance. This shift makes the traditional competitive narrative less relevant as each stablecoin solidifies its unique role in the crypto ecosystem.

Cointelegraph

Crypto Weekly: Strategy Sells Bitcoin, Trump's Crypto Windfall, and New Stablecoin Project

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