Tesla has sold 75% of its bitcoins, 21 Shares is launching ETP for bitcoin and ethereum
with risk thresholds, whether bitcoin will grow by a maximum in a month - we are reviewing
these and other crypto-currency news today.
Hello everyone, you are on the Crypto Samurai channel and let's get started.
Bitcoin has started to recover after such a long fall and has already exceeded the $23,000
mark.
It is difficult to talk about some kind of stability, because the market is still in
an uncertain state and it is difficult to predict a certain increase or decrease in
the most demanded crypto-currency today.
Tesla sold 75% of its bitcoins.
The other day, Tesla published its quarterly report and announced that it sold 75% of its
bitcoin assets for $936,000,000, which suggests, according to analysts, that Tesla suffered
losses of about $1 billion.
According to Elon Musk, such a decision was taken due to restrictions on the situation
with COVID-19 in China, which have not yet been eliminated.
According to experts, Tesla has lost more than $1 billion.
How will this news affect the cryptocurrency market?
Actually, you shouldn't worry.
In his address, Musk said that he was not ready to part with the cryptocurrency, but
on the contrary, he was ready to increase assets in bitcoins in the future.
You should not sell your BTC reserves, but on the contrary, expect the exchange rate
to strengthen soon and overcome the psychological threshold of $23,000.
21Shares, a cryptocurrency ETP provider, announced the launch of Bitcoin and Ethereum-based products
on the SIX Swiss Exchange with a built-in 40% volatility cap target.
In fact, 21Shares is expanding opportunities for the cryptocurrency segment and attracting
more and more fiat funds.
The head of ETP at 21Shares, Arthur Krause, said that the historical volatility of large-cap
stocks on Wall Street is 20%, while for Bitcoin and Ethereum it is 70% and 80% respectively.
21Shares is looking to strengthen the cryptocurrency by attracting fiat money, which is certainly
good given the state of the entire industry.
South Korea is postponing the introduction of a tax on cryptocurrency trading.
The news was reported by Digital Today on July 22.
The South Korean authorities have announced that the entry into force of the tax on digital
assets will be delayed for 2 years.
This decision was made taking into account the state of the virtual asset market and
the improvement of the investor protection system.
I think this is great news that will allow the cryptocurrency to exist freely and move
towards development.
The introduction of new rules has been postponed to January 1, 2025, which will allow the crypto
to strengthen and somehow beat future restrictions.
Not only Tesla is getting rid of its bitcoin holdings.
Finnish customs sold €46.5 million worth of bitcoins.
Finnish Customs sold 1,889 BTC confiscated during investigations into drug-related crimes.
One of the few cases when the state replenished its budget with funds from crypto-currency
assets.
In total, they managed to get about 46.5 million euros.
The proceeds from the sale of cryptocurrency will be transferred to Ukraine, which has
already been approved by the country's parliament.
Changpeng Zhao, CEO of the largest cryptocurrency exchange Binance, said that regardless of
the number of users, Binance will not be interested in offering the opportunity to trade shares,
writes Bits.Media.
The businessman does not undertake to judge whether other cryptocurrency exchanges offering
a similar service are right or not.
But the stock exchange doesn't fit his company's philosophy.
It is difficult to say whether Binance management is doing the right thing, but sticking to
the philosophy of his company, he demonstrates stability, which in one way or another attracts
new users and retains old ones.
The final news will be that the USDD cryptodollar rate rose to $10 million on a major exchange.
There was a sharp jump in the price of a stablecoin on the KuCoin site.
The token has risen in price millions of times in a few seconds.
In June, USDD lost its peg to the US dollar, and its rate fell to $0.84.
Then a large volume of short positions was opened - traders bet on a further decline
in quotes and a possible depreciation of the token.
But the price of the stablecoin has stabilized.
In June, USDD lost its peg to the US dollar, and its rate fell to $0.84.
Then a large volume of short positions was opened - traders bet on a further decline
in quotes and a possible depreciation of the token.
But the price of the stablecoin has stabilized.
So, on July 21, in a pair against USDT, the stablecoin rate at the moment rose to $1.2,
and in a pair against USDC, where there is much less liquidity, it soared to almost $10
million.
In fact, this is a funny situation, but it's good that USD has stabilized and is stablecoin
That was all the news for this week that I wanted to tell you about.
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Crypto Samurai was with you, thank you all for watching and see you soon!