Marathon Digital, the world’s largest Bitcoin mining company, has announced its latest purchase of $100 million worth of BTC, increasing its stash to more than 20,000 BTC.
According to a press release, Marathon is changing its approach to its Bitcoin treasury policy and adopting a full HDOL strategy. This means that the miner will hold all BTC produced during its operations and will periodically make more open-market purchases going forward.
Marathon Adopts BTC HODL Strategy
Marathon’s chief financial officer, Salman Khan, disclosed that the mining entity used to retain all of its bitcoins before 2023. The firm most likely offloaded some of its assets last year to cover operational costs and stay afloat.
Bitcoin’s current tailwinds, improving macro environment, and rising

Bitcoin miners are in the green again following BTC’s massive recovery over the past week. On-chain data suggests miners’ BTC sales to upgrade machinery and sustain operations are ending.
The Miner Sustainability metric, an indicator that evaluates the profitability of mining activities after accounting for the cost of hardware and operations, shows that this cohort of market participants is now fairly paid. This marks miners’ return to profitability for the first time in a month.
Miners Are in Profit Again
According to the latest Bitfinex Alpha report, miners have been operating at a loss since the Bitcoin halving in mid-April. This led to a period being marked as unsustainable for mining operations. With this cohort of market participants having completed equipment

Bitcoin’s latest uptrend and surge to the $67,000 level have put many investors in the money, with the majority of addresses holding the primary cryptocurrency flashing green.
A tweet from IntoTheBlock has revealed that 93% of addresses holding BTC are in profit again. Historical data from the on-chain intelligence platform shows that Bitcoin holders have reached this level of profit repeatedly over the past few months, reinforcing the belief that the market is still in its bull phase.
93% of Bitcoin Addresses in the Money
Since July 12, BTC has recorded substantial gains, climbing roughly 20% from $56,000 to its current trading value of around $67,000. Before settling at this level, the crypto asset touched a six-week high of $68,400 amid a favorable shift in market

Leading crypto exchange Kraken has inked a partnership with one of England’s most iconic football clubs, Tottenham Hotspur.
According to the official announcement, the alliance has made Kraken the crypto, web3, and the official sleeve partner for Tottenham Hotspur’s men’s and women’s teams ahead of the 2024/2025 football season.
Kraken Partners With Tottenham Hotspur
Kraken said it shares a vision with Tottenham Hotspur on how to leverage cutting-edge technologies like the blockchain to enhance clients’ and fans’ experiences. Both entities will channel their resources toward advancing football fans’ understanding of the crypto sphere and introducing new experiences that will deepen their connection with the Tottenham club.
Mayur Gupta, Kraken’s Chief Marketing Officer,

Since last weekend, the price of bitcoin (BTC) has rallied significantly, signaling that the crypto asset may have bottomed out. Bitcoin has recovered to a high of $67,000, although it was hovering around $64,000 at the time of writing. This comes after holders realized their largest losses so far in 2024.
CryptoQuant analysts said on-chain metrics suggest positive momentum in the near term; however, it may not be sustainable as stablecoin liquidity and Bitcoin demand have recorded little to no growth.
Bitcoin May Have Bottomed Out
CryptoQuant found that BTC holders realized losses of $2.5 billion in two days last week, shortly before the cryptocurrency rebounded and moved up. This could be indicative of seller capitulation, usually associated with price bottoms.
Another

Bankrupt crypto lender BlockFi announced a significant step in its effort to repay its clients. In an X post on Wednesday, the lender noted that the first interim distribution of funds to clients through Coinbase will begin this month.
According to BlockFi, the interim distribution will commence in July and will be processed in batches in the coming months. The firm added that eligible clients will receive repayment notifications through the email linked to their BlockFi accounts.
Non-US Clients Restricted
BlockFi mentioned that clients outside the US cannot receive funds now due to regulatory requirements that apply to them.
The lender tapped Coinbase as its distribution partner in May to efficiently allocate funds to eligible BlockFi Interest Account (BIA), Retail Loan,

North Carolina-based hedge fund manager Morgan Creek Digital intends to raise roughly $500 million for a new fund focused on investing in artificial intelligence (AI), blockchain technologies, chips, and data opportunities.
According to a press release, Morgan Creek’s new fund will invest in early-stage companies that combine AI power with blockchain technology and the associated chips to unlock value from data.
Morgan Creek To Raise $500M for New Fund
Morgan Creek is looking for technology that overlaps sectors, such as high-performance chips that can be used for mining Bitcoin or training AI models in data centers.
The hedge fund manager is already in talks with partners, sovereign and institutional investors, and corporate officers across several regions, including

The upcoming United States elections scheduled for November could mark a significant turning point for the American crypto industry due to candidates’ opposing views on digital assets.
Crypto exchange Coinbase believes crypto voters will make a big difference in the election’s key races, especially the presidential contest.
The Effect on Battleground States
According to a survey conducted by the crypto trading platform, 52 million Americans own cryptocurrencies, and one in every six of them lives in key battleground states.
Battleground states, also known as toss-up or purple states, can be won by either the Democratic or Republican candidate in a statewide election by a swing in votes. They have closely divided support for Democratic and Republican presidential

Bitcoin (BTC) is currently at a critical point that could determine whether its price will bottom out or decline further in a correction like that seen in the summer of 2021.
While some metrics suggest that the leading crypto asset has reached the bottom of its latest correction, others signal that there could be more bloodshed and pain for market participants.
Bitcoin at Pivotal Point
CryptoQuant’s latest weekly crypto report says bitcoin’s price may take a little longer to rally or bottom as stablecoin liquidity growth is still not in full swing. Historically, prices rally when more liquidity enters the crypto market through Tether (USDT) minting. However, this condition is yet to be met as the USDT market cap growth is still slowing down.
On the other hand, the market

Transaction fees on the Bitcoin network have continued to decline months after its latest peak during the halving event.
Data from IntoTheBlock shows that fees on the leading crypto network have decreased by 18% this week after dropping 27% from the previous one. The continuous decline has placed Bitcoin fees at their lowest since November 2023.
Bitcoin Fees Are Declining
Three months ago, Bitcoin recorded the highest transaction fees among all protocols, including Ethereum. For a few days before the last Bitcoin halving event, the network’s fees consecutively surpassed all the others as activity surged.
One of the major drivers of the surge in transaction fees at the time was the launch of the Runes protocol, which eventually took place on the halving day. Runes enable

The former United States president and current Republican presidential candidate, Donald Trump, is set to speak at one of the largest crypto events this month.
A tweet by the official Bitcoin Conference X account revealed Thursday that Trump will be one of the speakers at the event, which is scheduled for July 25 to 27 in Nashville, Tennessee. The announcement represents a huge win for the crypto community, as Trump has expressed substantial support for the industry over the last few months.
Trump to Speak at Bitcoin Conference
The chances of Trump winning the upcoming United States presidential elections went up after he reversed his stance against Bitcoin and cryptocurrencies in general. The Republican presidential nominee said earlier this year that he could live with

The defunct cryptocurrency exchange Mt Gox has finally commenced creditor repayments ten years after filing for bankruptcy.
According to an announcement from the Mt Gox Rehabilitation Trustee, the defunct estate distributed bitcoin (BTC) and Bitcoin Cash (BCH) payments to some creditors on July 5 through designated crypto exchanges linked with the repayment plan.
Mt Gox Begins Repayments
The Mt Gox trustee will continue repaying other creditors when certain conditions are met, including confirming the validity of registered accounts, completing discussions with designated crypto exchanges, and confirming that repayments can be made safely.
The rehabilitation trustee has asked that eligible creditors remain patient while the issues are sorted out. The estate intends to

The leading cryptocurrency exchange, KuCoin, has implemented a 7.5% transaction fee tax on all trades executed on the platform for its Nigerian users.
According to an official announcement, KuCoin will start collecting a value-added tax (VAT) of 7.5% on transaction fees from July 8 to align with recent regulatory developments. This update affects all users with their Know Your Customer information registered in Nigeria.

KuCoin to Tax Nigerian Users
To avoid misunderstandings about the latest development, KuCoin clarified that the VAT applies to the transaction fees in each trade, not the transaction amount. For instance, a 1,000 Tether (USDT) transaction would incur a 1 USDT fee and a 0.075 USDT tax, which represents 7.5% of the fee. Hence, the net amount for the

Japanese multinational conglomerate corporation Sony is gearing up to launch its cryptocurrency exchange. The company intends to make this possible by restarting another crypto trading platform acquired in August 2023.
According to a press release, Amber Japan, the parent company of the Japanese crypto exchange WhaleFin, acquired by Sony last year, has changed its name to S.BLOX. The technology giant is preparing to kickstart its digital asset trading services soon.
Sony to Launch Crypto Exchange
Sony’s wholly-owned subsidiary, Quetta Web, acquired S.BLOX last year. Before then, the digital asset trading entity was the crypto exchange DeCurret. It was renamed Amber Japan after the Japanese subsidiary of Singapore’s Amber Group acquired it in 2022. Hence, Sony is the second

The United States government has increased the reward offered for information on OneCoin co-founder Ruja Ignatova’s whereabouts to $5 million.
According to an official release from the U.S. Department of State spokesperson in conjunction with the U.S. Embassy in Bulgaria, anyone who brings information leading to the arrest or conviction of Ignatova, popularly known as Cryptoqueen, would be rewarded with $5 million.
This new reward represents a significant increase from the previous offer of $250,000 announced by the Federal Bureau of Investigation (FBI) and raises speculations about the authenticity of rumors of Cryptoqueen being murdered in 2018.
U.S. Places $5M Reward on Cryptoqueen
Cryptoqueen is wanted in the United States for orchestrating one of the largest

The first half of 2024 has ended, and on-chain experts have compiled data to determine the profitable sectors so far in the year.
According to coverage from independent crypto reporter Colin Wu, memecoins became the most profitable sector in H1 2024, followed by Real World Assets (RWA) and Artificial Intelligence (AI).
Memecoins Emerges as Most Profitable
Wu analyzed the price return rate of the top ten tokens by market cap in each sector using data from CoinGecko by comparing their average daily price return with their prices at the beginning of the quarter. The tokens were selected based on their rankings on the last day of the quarter.
Memecoins have recorded an average return rate of 2405.1% in 2024. As of June 19, three of the top ten memecoins by market cap were

Analysts at market intelligence platform CryptoQuant have outlined on-chain metrics that could signal that the bitcoin (BTC) price has bottomed and cryptocurrencies are beginning to rally again.
The latest weekly CryptoQuant report mentioned signals like higher bullish momentum, rising BTC demand, and faster stablecoin liquidity growth as the metrics to watch.
Higher Bullish Momentum
CryptoQuant’s Bitcoin Bull-Bear Market Cycle indicator currently signals that the crypto market has been in its least bullish state since March 2023, when the United States banking crisis occurred.
With BTC hovering around $61,000 at the time of writing and having fallen to a one-month low of $58,500 earlier this week, the market needs bullish momentum for prices to recover. This means

The largest United States cryptocurrency exchange, Coinbase, has filed lawsuits against the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) for failing to comply with information requests in closed crypto cases.
According to filings at the United States District Court for the District of Columbia, Coinbase seeks to compel the SEC and FDIC to comply with the Freedom of Information Act (FOIA) to respond to information requests from industry participants.
Coinbase Sues SEC and FDIC
Coinbase argues that the SEC has taken a new position, claiming sweeping authority over the growing crypto sector. While the SEC’s claims have no basis in securities laws, the agency has failed to explain properly and, instead, waged an enforcement war

Creditors of the bankrupt cryptocurrency exchange FTX are now faced with the option of receiving their assets in cash or crypto.
A filing in the United States Bankruptcy Court for the District of Delaware revealed that Judge John Dorsey had approved the solicitation packages and ballots needed for the exchange’s customers to communicate their preferences. The deadline for voting is August 16, and Judge Dorsey will decide on the matter in early October.
Cash or Crypto for FTX Repayments
FTX’s proposed reorganization plan seeks to repay creditors the U.S. dollar value of their crypto assets at the time of the exchange’s collapse in cash. The bankruptcy estate proposed a 118% return for 98% of creditors with claims less than $50,000. In addition, non-governmental creditors

Ripple chief executive officer Brad Garlinghouse has slammed Gary Gensler, the chairman of the United States Securities and Exchange Commission (SEC), for his recent slander about most crypto executives going to jail.
Garlinghouse stated in a tweet that Gensler and his approach to crypto regulation would cause U.S. President Joe Biden to lose the upcoming elections.
Gensler on Crypto Execs
During an interview with Bloomberg on Tuesday, Gensler spoke about the U.S. crypto industry, the upcoming launch of the Ethereum exchange-traded funds (ETF), crypto regulation, and the fate of industry executives.
While the SEC chair remained mum on the timing of the launch of the Ethereum ETFs, stating that discussions were progressing smoothly, he refuted claims about inconsistencies

American entrepreneur and Rich Dad Poor Dad author Robert Kiyosaki has revealed that he made his first Bitcoin (BTC) purchase when the asset was worth $6,000 due to encouragement from former Goldman Sachs executive Raoul Pal.
According to Kiyosaki, his first 30 BTC purchase has incurred substantial returns over the years; hence, he believes Pal’s predictions that the cryptocurrency would soon hit the Banana Zone.
Pal’s Banana Zone Prediction
Last week, Pal discussed the Banana Zone with crypto trader Scott Melker on the latter’s YouTube channel. For the uninitiated, the Banana Zone, a term Pal coined, refers to a period of sustained upward price movement in the financial market.
Pal believes the Banana Zone is coming for the crypto market despite the bloodshed that has

The Singapore-based cryptocurrency exchange Bybit has overtaken its rival, the U.S.-based Coinbase, to become the second-largest digital asset trading platform after Binance.
According to a press release citing a report from crypto analytics platform Kaiko, Bybit’s market share has surged from 8% to 16% since October 2023, while Coinbase’s share increased by 1% over the same period. Due to the steady growth, Bybit surpassed Coinbase in March to become the second-largest crypto exchange.
Bybit Becomes Second-Largest Exchange
Several factors contributed to Bybit’s growth, including the launch of spot Bitcoin exchange-traded funds in the United States and Binance’s weakened dominance due to regulatory issues.
Kaiko noted that while both incidents led to increased trading

Julian Assange, the founder of the non-profit media organization and publisher of leaked documents WikiLeaks, has been released from a United Kingdom prison after five years of staying behind bars.
According to a tweet from the official WikiLeaks account, a high court in London granted Assange bail. The authorities released him at the Stansted airport on Monday afternoon, where he boarded a plane and left the UK.
Assange Freed From Jail
Due to his plea deal with the United States Justice Department, Assange will no longer be extradited to the country. Although the agreement is yet to be formally concluded, the WikiLeaks founder has agreed to plead guilty to one count of conspiracy to obtain and disclose U.S. national defense information and will most likely be sentenced to

The crypto market is in the red amid significant bloodshed from bitcoin (BTC) and altcoins. There is currently no bullish momentum, and BTC is hovering around key levels, falling below traders’ on-chain realized price of $65,800.
Regardless, CryptoQuant analysts insist in a recent report that the market is in a bull season.
Lack of Bullish Momentum
The lack of bullish momentum in the crypto market is evident in weak bitcoin whale demand growth and low stablecoin liquidity. Demand from large BTC holders has no strength and is growing at a monthly rate of 4.8%. Although the current rate is slightly higher than the 2.4% seen in late May, it is still a far cry from the 6%-10% recorded in the first quarter of this year, when BTC rallied to its all-time high.
In addition,

Leading digital asset technology firm Marathon Digital has found a way of utilizing the heat from its Bitcoin mining activities.
Marathon’s latest announcement revealed that it has launched a pilot project to warm a Finland community of roughly 11,000 residents with recycled heat from its Bitcoin mining operations.
Marathon Uses Mining to Warm Districts
The Finland district heating project is Marathon’s first, marking its debut in Europe. District heating entails heating local buildings by distributing centrally heated water through underground pipes. Finland relies on biomass for district heating; however, this project is looking to reduce carbon emissions and operating costs.
Europe’s cold climate has attracted data center companies, which benefit from the continent’s

On-chain experts have warned that political-themed meme coins will remain volatile for the next seven days or more as the United States presidential debate approaches.
Bitfinex analysts said PolitiFi tokens have become speculative assets for the outcome of the upcoming elections; hence, they could witness dramatic rises and falls before, during, and after the debate between the leading candidates, incumbent President Joe Biden and former President Donald Trump.
PolitiFi Tokens to Witness Volatility
Over the past few months, the crypto market has witnessed the launch of several Trump-themed and Biden-themed tokens, such as the Ethereum-based Super Trump (STRUMP) and Maga (TRUMP), the BNB Smart Chain-based Maga Hat (MAGA), and the Solana-based Jeo Boden (BODEN) and Doland

The decentralized layer-1 blockchain, The Open Network (TON), has grown into one of the most popular chains and is seeing high activity as users flock to the ecosystem.
A CryptoQuant Quicktake by an analyst revealed that the network’s on-chain metrics are skyrocketing, with its daily transfer volume reaching 10% of Bitcoin’s figures. These parabolic metrics highlight the network’s unwavering growth.
TON Reaches 10% of Bitcoin’s Capacity
The average daily transfer volume of Bitcoin is $50 billion. At the time of writing, TON’s daily transfer volumes hovered between $5 billion to $10 billion. TON’s figures indicate that the network has achieved around 10% of Bitcoin capacity despite being a few years old.
Besides the surge in the total value of transactions conducted daily

Events in the saga between Nigeria and Binance continue to unfold. This time, the country dropped tax charges against the exchange’s executives.
According to a tweet by Nigerian journalist Alexander Onukwue, the Federal Inland Revenue Service (FIRS) of Nigeria has withdrawn the tax evasion charges against Tigran Gambaryan, Binance’s head of financial crime compliance, and Nadeem Anjarwalla, the exchange’s director for Africa operations.
Binance Execs Free From Tax Charges
In late March, the FIRS charged Binance with four counts of tax evasion, naming Gambaryan and Anjarwalla as second and third defendants. The charges were filed on the same day that Anjarwalla escaped from the custody of the Economic and Financial Crimes Commission (EFCC).
Before Anjarwalla’s escape, he

Bitcoin (BTC) has fallen 4.5% in the past seven days, going to a monthly low of $65,000. This plunge in the digital asset’s value could be linked to increased selling from mining entities.
In the latest CryptoQuant weekly report, analysts revealed that the number of BTC sent from Bitcoin mining entities to exchanges has reached a two-month high amid a decline in their revenues due to lower transaction fees.
Miner Selling Hits Two-Month High
On June 9, the hourly transfer of BTC, mainly from the btc.com mining pool, to the crypto exchange Binance hit a two-month high of more than 3,000 BTC. The next day, miners sold at least 1,200 BTC via over-the-counter desks, recording their highest daily volume since late March, when the daily volume totaled 1,600 BTC.
Large Bitcoin

Stablecoin issuing company Paxos has laid off 20% of its workforce, decreasing its employee count by 65 individuals, Bloomberg reported Thursday, citing an internal email.
According to the report, Paxos’ chief executive officer and co-founder Charles Cascarilla said the reduction in headcount would allow the company to capitalize on future opportunities in the tokenization and stablecoin sectors. Paxos intends to phase out some of its services to focus on tokenization and stablecoins.
Paxos Sacks 65 Employees
The stablecoin issuer offered the affected individuals three months of subsidized health insurance and outplacement support, 13 weeks of severance pay, and a two-year extension to exercise vested options. In addition to the separation offer, employees on a quarterly