As Australia’s premier Bitcoin ETF, the Monochrome Bitcoin ETF (Ticker: IBTC) consistently exhibits robust growth through continuous purchasing of Bitcoin, even during market lows. According to recent data, the ETF has been steadily increasing its holdings, now possessing up to 65 Bitcoins as of the latest reports from late June 2024.

This strategic accumulation aligns with the ETF’s objective to track the price of Bitcoin in Australian dollars, focusing on generating returns that mirror the cryptocurrency’s performance, minus applicable fees and costs. As the ETF’s assets under management (AUM) surged to nearly $6 million AUD by late June, this reflects both investor confidence and the fund’s aggressive acquisition strategy.

The ETF’s approach capitalizes on market dips to enhance holdings, suggesting a long-term bullish outlook on Bitcoin’s value. As it stands, the IBTC ETF not only serves as a significant indicator of cryptocurrency adoption in Australia but also highlights the growing trend of mainstream investment vehicles embracing digital assets.

In a landmark decision on June 28, 2024, the Supreme Court of the United States, by a 6-3 vote, overruled the longstanding Chevron doctrine, fundamentally reshaping the landscape of administrative law and judicial review. The case, Loper Bright Enterprises v. Raimondo, signals a significant shift in the balance of power between the judiciary and administrative agencies. This decision not only reinforces judicial independence but also presents substantial benefits for the Bitcoin industry, echoing the implications of last year’s West Virginia v. EPA decision.

The Case

The Chevron doctrine, established in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984),…

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Bolivia’s central bank, Banco Central de Bolivia, has repealed its previous ban on Bitcoin and other cryptocurrencies, enabling financial entities to conduct transactions with digital assets. This move, under the new Resolution No. 082/2024, aims to modernize Bolivia’s payment system and align it with broader Latin American crypto regulations.

This regulatory shift marks the end of a ban on crypto use that began in 2014. The central bank’s decision is part of an effort to elevate Bolivia’s struggling economy by embracing the growing digital asset market. While cryptocurrencies can now be traded through approved electronic channels, they are not recognized as legal tender in Bolivia.

Alongside this change, the Banco Central de Bolivia plans to launch an awareness program under its Economic and Financial Education Plan. This initiative will inform the public about the risks associated with cryptocurrencies and promote responsible usage. The new legislation was introduced in collaboration with the Financial Investigations Unit and the Financial System Supervisory Authority.

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Anders, a passionate Bitcoiner, has launched an extraordinary event called the Pleb Party, aiming to bridge the gap between Bitcoin enthusiasts of all backgrounds.

This unique gathering offers an opportunity for “plebs”—a term of affection, according to the party’s host—for everyday supporters to connect with industry leaders in a casual, accessible setting.

Anders launched “the Pleb Party”, bringing Bitcoiners from different backgrounds together

At the heart of the Pleb Party is a fresh perspective on what it means to be a “pleb” in the Bitcoin community. Rather than focusing on wealth or status, the event emphasizes a mindset of humility and…

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Early Friday, a bitcoin wallet that had been inactive for six years reactivated, transferring 1,000 BTC—worth over $61 million—to Coinbase. This wallet, identified as 12EMDoUhaNCuWZeeT6ey61AkjKyzmjV2m3, last purchased these coins six years ago for just $6.68 million. The movement from dormant accounts like this has become increasingly common this quarter, sparking discussions about the long-term holders’ confidence in the cryptocurrency’s value.

Despite recent pressures pushing bitcoin prices down nearly 9% this month, the reactivation of these high-value wallets may hint at an underlying strength in the market. Such transactions often precede speculative trading or strategic cash-outs at high market valuations, suggesting a savvy acknowledgment of bitcoin’s sustained relevance and potential.

Market watchers anticipate more volatility following today’s release of the Fed’s inflation data. However, a stable inflation outlook could bolster bitcoin’s standing, possibly countering the recent price slide and reinforcing investor confidence in the face of regulatory and market challenges.

 Lookonchain

In a bold legal move, Coinbase, the largest digital asset exchange in the United States, has filed lawsuits against two major federal regulators: the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC).

Coinbase sues SEC and FDIC, believing that the agencies deliberately failed to comply with Freedom of Information Act (FOIA), accusing them of withholding crucial information related to the regulation of Bitcoin and digital assets.

Coinbase’s legal actions focus on FOIA requests that were denied by the SEC and FDIC. These requests were aimed at uncovering the agencies’ internal communications and decisions regarding the digital…

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Jesse Powell, the founder of Kraken, a prominent cryptocurrency exchange, has contributed $1 million to Donald Trump’s 2024 presidential campaign. Powell expressed his enthusiasm for supporting Trump, who he views as the most pro-crypto candidate. This large donation, primarily in ether, aims to bolster U.S. leadership in blockchain technology.

Amid growing regulatory pressures under the current administration, Powell criticized the Biden administration’s approach to crypto regulation. He highlighted a “campaign of unchecked regulation by enforcement,” which he believes diminishes U.S. competitiveness in the global crypto market.

Naming specific opponents within the government, Powell pointed to figures like Senator Elizabeth Warren and SEC Chair Gary Gensler as key adversaries to the advancement of the cryptocurrency industry. His support for Trump is seen as a strategic move to protect and advance U.S. interests in blockchain and crypto innovations.

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