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🌙 Larry Fink Calls Bitcoin ‘Digital Gold’

Crypto markets continued to rally on Tuesday after Larry Fink, CEO of BlackRock, said he was wrong about Bitcoin, and referred to it as “digital gold”.

Author

Mike Gavela
July 16, 2024

Crypto Roundup - July 16

Crypto markets experienced a notable surge after BlackRock CEO Larry Fink labeled Bitcoin as "digital gold," indicating institutional endorsement and bolstering investor confidence. Simultaneously, Mt. Gox initiated the movement of $6 billion in Bitcoin to facilitate creditor redemptions, marking a significant step in the long-standing bankruptcy process but raising concerns about potential market volatility. Additionally, FTX and the CFTC reached a settlement, pending court approval, addressing key regulatory challenges and aiming to bring stability to the exchange's operations.

Top Stories:

  • Crypto markets surged following BlackRock CEO Larry Fink's endorsement of Bitcoin as "digital gold."

  • Mt. Gox initiated $6 billion in Bitcoin redemptions, signaling progress in creditor repayments but raising market volatility concerns.

  • FTX and CFTC reached a settlement, pending court approval, aiming to resolve major regulatory issues and stabilize operations.

TOP STORIES

Crypto Markets Surge After BlackRock CEO Larry Fink Calls Bitcoin ‘Digital Gold’ - The Defiant

Crypto markets continued to rally on Tuesday after Larry Fink, CEO of BlackRock, said he was wrong about Bitcoin, and referred to it as “digital gold”.

thedefiant.io/news/markets/crypto-markets-surge-after-blackrock-ceo-larry-fink-calls-bitcoin-digital-gold

Mt Gox moves $6bn in Bitcoin in sign of imminent payday to creditors

Onchain data indicates Mt. Gox may have sent Kraken over $3.1 billion. The latter said creditors will receive their funds within 14 days.

www.dlnews.com/articles/markets/mt-gox-moves-6-billion-in-bitcoin-to-start-redemptions

FTX and CFTC agree to $12.7B settlement, subject to court approval

FTX and the Commodity Futures Trading Commission reached a $12.7 billion settlement on the crypto exchange’s reorg plan to pay back creditors.

cointelegraph.com/news/ftx-cftc-reach-settlement-pending-court-approval

FUNDRAISING

OTHER HEADLINES

After Court Order, Craig Wright Updates Website With Admission He Is Not Bitcoin Creator Satoshi

A U.K. court ruled earlier this year that Wright was not the inventor of bitcoin and had lied “extensively and repeatedly” and forged documents in his attempt to convince the world otherwise.

www.coindesk.com/policy/2024/07/16/after-court-order-craig-wright-updates-website-with-admission-he-is-not-satoshi-nakamoto

Republicans Likely to Follow Through With Pro-Crypto Agenda, Experts Say - Decrypt

A Trump victory in November would likely bring pro-crypto reforms, policy experts suggest, with Republicans back in charge.

decrypt.co/240095/republicans-follow-through-pro-crypto-agenda-experts-say

U.S.-Listed Bitcoin Miners' Share of Global Hashrate Reached Record in July: JPMorgan

The aggregate market cap of 14 tracked bitcoin miners listed in the U.S. rose 29% since the end of June, the report noted.

www.coindesk.com/markets/2024/07/16/us-listed-bitcoin-miners-share-of-global-hashrate-reached-record-in-july-jpmorgan

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