Binance in trouble. MicroStrategy is back to shopping. ETFs on my mind.

June 30, 2023

Crypto Market Update 30-06-23

Happy Friday everyone!

Friday is here and we know you're looking forward to our weekly recap, we're here for you 📰😎

Last 7 Days Market Performance 

Bitcoin is up 0.4%, now at $ 30,249.00 📈

Ethereum is down 0.6%, now at $ 1,862.00 📉

Total crypto market cap: $ 1.22 Trillion

Fact for the week:

If you've ever been to Florence, you've heard about the power of the Medici family. 🧑‍🎨 The Medici were an influential Italian family during the Renaissance, originating in Florence. Their banking system, the Medici Bank, is credited for pioneering the double-entry bookkeeping system, a cornerstone of modern accounting, making them pivotal in the evolution of today's banking and financial systems. 🤔

Onto this week’s updates 🚦

🔴 Binance in trouble ❗

After the Netherlands, France and the United Kingdom, now Belgium and Germany are also joining the party. Things are getting increasingly difficult for Binance, which this week saw the Belgian Financial Services demand that they stop activity in the country, as well as German authorities denying the application for a cryptocurrency custody license. The world's largest exchange is on shaky ground 😬

🟡 MicroStrategy is back to shopping 🛒

It’s no secret that MicroStrategy co-founder, Michael Saylor, is one of the most fierce Bitcoin proponents and he does put his money where his mouth is. The Nasdaq-listed software company has purchased 12,333 more Bitcoins for about $347 million, growing its cryptocurrency holdings to 152,333 BTC. According to Saylor, “the future will bring a parade of positives for those intent on proliferating bitcoin as an instrument of economic empowerment”, and we definitely agree with him. 💪

🟢 ETFs on my mind🗣️

The race to the first spot Bitcoin (BTC) ETF is on. After BlackRock’s move, now everyone is joining the race. Cathie Wood’s ARK’s Invest has modified its application, copycatting BlockRock and this may make it the first to launch a Bitcoin spot ETF in the United States. Fidelity is also refilling for a new Bitcoin Spot ETF in the US. Bitcoin ETFs already exist in several other countries, however, our close look at what is happening in the US is due to it being the most important financial market in the world, and where much of the world's wealth is concentrated. 💰

🎬 The crypto space is back to big moves, so you better keep an eye on what's going on… don't let yourself be taken by surprise and open your account with us at 🙂

Talk next week. 👋


Great job on learning something new today 🎉