25.06.[News of the day] • How many BTC maximalists are needed to screw in the lightbulb and other news
4 min readTable of Contents
Welcome to today’s overview of crypto news:
MARKETS
After falling in the middle of the week, when BTC fell below $ 30,000 for the first time since January, the performance of this asset calmed down. It caught up with most of the losses and even climbed just over $ 35,000 the next day, but did not continue.
The BTC bears drove down to values around $ 32,000, but the trajectory reversed rapidly in the following hours. BTC began to rise again, adding more than $ 3,000. As a result, it recorded a four-day high of approximately $ 35,500.
Most altcoins stagnated on a 24-hour scale. Although ETH has recovered from the steepest phase of the crash, it still fails to exceed the $ 2,000 mark. As a result, ETH is trading for just over $ 1,900 for the second day in a row. [1]
Technical analysis: Altcoin Index – are we balancing over the abyss?
Cryptocurrencies
Elon Musk irritates maximalists again
Elon Musk humbled himself to the maximalists again when he asked how many were needed to replace the light bulb. The wave of comments did not disappoint and names like Michael Saylor, Dan Held, Raoul Pal and others appeared.
“That’s not funny!” – BTC maxis
– Elon Musk (@elonmusk) June 25, 2021
He repeated a popular question on Twitter – “How many BTC maximalists are needed to screw in a light bulb?” Later, his own answer was also quite ironic.
Some popular BTC maximalists and other cryptocurrency commentators quickly offered their point. Michael Saylor, CEO of MicroStrategy, was among the first to catch the irony: “If you give us 10 minutes, we may agree on answers.”
Rapper The Game faces executives with a $ 12 million ICO ruling
The LA rapper, The Game, also known as Jayceon Taylor, is facing a $ 12 million verdict for his role in Paragon Coin Inc., a crypto firm that allegedly joined an unregistered primary coin offering (ICO) four years ago.
In 2017, Taylor publicly supported Paragon Coin’s ICO on social media. Paragon promoted its PRG tokens as a currency for the cannabis industry and received $ 70 million from the public between April 15, 2017 and October 15, 2017.
The plaintiffs first filed a complaint against this offer in 2018, however, Tyler was initially acquitted because it was not clear in the plaintiffs’ original complaint that the company employed the rapper.
Banks, crypto exchanges, companies
Gemini exchange buys carbon permits and is committed to carbon neutrality
The Gemini crypto exchange, owned by twins and former Facebook litigation Tyler and Cameron Winklevoss, will spend $ 4 million in carbon permints, according to a Bloomberg report, to offset the environmental impact of their BTCs.
The credits – equivalent to 341,000 metric tons of carbon – were purchased from Climate Vault, a University of Chicago project that purchases carbon allowances from registered cap-and-trade schemes.
In an interview with Bloomberg, CEO Cameron Winklevoss said that Gemini plans to offset its entire carbon footprint until BTC benefits from 100% renewable energy.
Athena has confirmed plans to bring 1,500 BTC ATMs to El Salvador
The American company Athena intends to supply 1,500 BTC ATMs to the new crypto economy of El Salvador, a company representative confirmed.
The introduction of ATMs will begin on a small scale, with several dozen ATMs being tested to implement a business model. The Chicago-based company plans to invest more than $ 1 million in the installation of crypto ATMs, focusing on regions where residents receive remittances from abroad.
Along with the installation of new ATMs, it will also hire staff and open an office to conduct operations in El Salvador.
CBDC, Regulation
Palestine wants to launch the central bank’s digital currency
Following recent digital shekel tests in Israel, the Palestinian Monetary Administration plans to introduce the central bank’s own digital currency, according to a Bloomberg report. Palestine, bound by agreements with Israel in the 1990s, has no currency of its own. Instead, the Israeli shekel serves as the de facto currency, along with the Jordanian dinar and US dollar.
The governor of the Palestinian Monetary Office told Bloomberg that two feasibility studies are under way for the Palestinian CBDC to use the future digital currency “for payment systems in our country and perhaps with Israel and other countries.”
Palestinian banks are banned from making large cross-border cash transfers – including transfers to Israel – and are often forced to borrow money to cover transfers. He hopes that the Palestinian CBDC can solve this problem.
Robinhood’s IPO plans are postponed due to the SEC review process
Robinhood is postponing its plans to list. She originally planned an IPO in June. The U.S. Securities and Exchange Commission (SEC) is reportedly investigating its cryptocurrency business.
According to a Bloomberg report, the Robinhood trading platform is having trouble launching its initial public offering (IPO). The company wanted to launch an IPO in June, but according to sources who spoke to the publication, it is hindering the progress of negotiations with the US Securities and Exchange Commission.
The SEC is reviewing the company’s IPO prospectus and concerns are allegedly related to the cryptocurrency business. This is not surprising given how intensively the US government is currently reviewing the cryptocurrency market.
