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🌙 German Government’s Bitcoin Selloff Nets $2.9 Billion

The 50,000 bitcoins seized in the Movie2K film piracy case have been sold but the fate of the funds is still undetermined.

Author

Mike Gavela
July 17, 2024

Crypto Roundup - July 17

The German government’s Bitcoin selloff has netted $2.9 billion, which stems from a high-profile film piracy case involving the confiscation and liquidation of Bitcoin assets. This development underscores the growing role of cryptocurrency in legal and financial realms. StarkWare’s test project has teased the potential of Bitcoin’s OP_Cat, a feature that could enhance the scalability and functionality of Bitcoin through advanced cryptographic techniques. Meanwhile, Ethereum's price surged to $5,000 following the launch of an ETF by Matt Hougan, Chief Investment Officer at Bitwise. The ETF launch has fueled significant market interest and optimism, marking a pivotal moment for Ethereum and the broader crypto market.

Top Stories:

  • German government’s Bitcoin selloff nets $2.9 billion amid film piracy case, highlighting cryptocurrency's legal implications.

  • StarkWare’s test project explores Bitcoin’s OP_Cat potential, promising enhanced scalability and functionality.

  • Ethereum's price surged to $5,000 after ETF launch by Bitwise, boosting market optimism.

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TOP STORIES

German government's bitcoin selloff nets $2.9 billion as film piracy case marches on

The 50,000 bitcoins seized in the Movie2K film piracy case have been sold but the fate of the funds is still undetermined.

www.theblock.co/post/305864/german-governments-bitcoin-selloff-nets-2-9-billion-as-film-piracy-case-marches-on

Bitcoin's 'OP_CAT' Possibilities Teased in StarkWare Test Project

StarkWare used its new STARK verifier on the Signet network, a testing environment for Bitcoin, in a proof-on-concept project designed to demonstrate what the oldest blockchain might be capable of were the pending "OP_CAT" technical proposal to get adopted.

www.coindesk.com/tech/2024/07/17/bitcoins-op-cat-possibilities-teased-in-starkware-test-project

Ethereum Will Hit $5,000 After ETFs Launch, Predicts Bitwise Exec - Decrypt

Ethereum's low inflation rate and substantial staked supply compare favorably to Bitcoin, writes Matt Hougan.

decrypt.co/240309/ethereum-price-5000-after-etf-launch-matt-hougan

FUNDRAISING

OTHER HEADLINES

Ethereum developer Virgil Griffith's sentencing reduced by seven months

Ethereum developer Virgil Griffith got seven months shaved off his sentencing a judge ordered on Wednesday.

www.theblock.co/post/305941/ethereum-developer-virgil-griffiths-sentencing-reduced-by-seven-months

Worldcoin Soars 45% After Investors' WLD Lock-Up Extended by Two Years - Decrypt

The Worldcoin token, WLD, has soared 45% after the project said it's adding 2 years to the lock-up period for tokens allocated to investors.

decrypt.co/240223/worldcoin-soars-investor-token-lock-up-extended

Bitcoin Treasury Firm DeFi Technologies Rockets 25% After Major Q3 Profits - Decrypt

The company confirmed to Decrypt that it plans to add more BTC to its balance sheet following its June purchase.

decrypt.co/240335/bitwise-stock-rockets-bitcoin-treasury

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