News | Weekly Recap

UseTheBitcoin Weekly News Roundup (JUN 24th – JUN 28th, 2024)


Rickie Sanchez


Reading time

5 mins
Last update


Rickie Sanchez



News / Weekly Recap

Reading time

5 mins
Last update


Rickie Sanchez


Reading time

5 mins
Last update


Weekly News Roundup

Join our growing community

Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.

Here’s what happened in crypto this week:

Spot Ethereum ETF Issuers Update Fees And Seed Investments In Latest Filings

AD 4nXcAxktDrZAcz mf4tLt8OcX hgScvCtFGDT JJE1 6gSxopbjf7lkIB9QZ6fS8J4YKXyj8c2u0VLRhhZwFZZclwYDyB0MYo qmXD6 aFP5nKJItx eSU0OxUKpCy0tbk7cRJyXivq97fDQZa5H Lw7 jLU2?key=p9GClSRrnjEiDORp3r7fTA

Various firms competing for a foothold in the spot Ethereum ETF market submitted amended registration statements, providing additional details on seed investments and fees as they await final approval from the US Securities and Exchange Commission (SEC).

It can be recalled that the SEC approved 19b-4 forms for eight Ethereum ETFs last month. Issuers still need their registration statements, S-1s, to become effective before they can begin trading.

Billionaire Michael Dell Posts Playful Tweet About Bitcoin

AD 4nXd p2dae2wha3iOp tSDrI2yZdxn lVXCx2i1JqdpXM m73EmNq9EanfpL IDip

Michael Dell, the CEO of Dell Technologies, recently engaged with the crypto community through a playful tweet by posting an AI-generated picture of the blue Muppet character Cookie Monster gobbling up Bitcoin.

The interaction began when Dell tweeted about the value of scarcity, which prompted a response from Michael Saylor of MicroStrategy emphasizing Bitcoin as “Digital Scarcity.”

It is worth noting that Dell is no stranger to Bitcoin. 

In 2014, he repeatedly tweeted that the computer giant had started accepting BTC for payments. However, Dell dropped support for Bitcoin in 2017 due to tepid demand.

Mt. Gox To Start Their Repayments In Bitcoin (BTC) And Bitcoin Cash (BCH) In July

AD 4nXdQuuYyK yl8aaUypjUCQbK5nKMfA3tZ230n1dVKSrCRJzYkDHDRm8swdU

Defunct crypto exchange Mt. Gox announced that it will commence repaying creditors in Bitcoin (BTC) and Bitcoin Cash (BCH) starting next week after years of postponed deadlines.

The process will progress in stages, and Mt. Gox has requested creditors and other affected parties to remain patient as they execute the repayments progressively as per the exchange requirements.

Mt. Gox was once the world’s top crypto exchange, handling over 70% of all Bitcoin transactions in its early years. In early 2014, hackers attacked the exchange, losing an estimated 740,000 Bitcoins ($15 billion at current prices).

Japanese Investment Firm Metaplanet To Sell $6 Million Worth Of Bonds To Purchase Bitcoin

AD 4nXfAXwqnMbsxMqifA 0vowyYKIbqMcLq9RNTMmpH1B2quMqnjFe9Xn29cMGgkFa2jA2Rw7UexBZw4rc8UPQIsJ6CvS67OC0uT UOkXl6YyATBQMwdn PrSpf43b6GoMiZ

Tokyo-based investment firm Metaplanet Inc. plans to issue 1 billion yen ($6.26 million) in bonds to raise money to buy Bitcoin.

According to a June 24th announcement, the company’s board has approved the bond sale, and the soon-to-be-acquired Bitcoin is intended for long-term holding.

The bonds will offer an annual interest rate of 0.5% to attract investors looking for stable returns while aligning with Metaplanet’s crypto strategy.

WikiLeaks Founder Julian Assange Flies Free After Plea Deal

AD 4nXdPsN5jHX89RIYLkrpJzG1FJ3GcX4nzjXizy7SWWQY0 1p4l9kU oOm8 fsluKjoeyKDfMas31C2ULxPHW

After enduring an extended legal battle that kept him in a UK jail for 12 years, Julian Assange, the co-founder of WikiLeaks, is now free. According to recent reports, he has reached a plea deal with the US Department of Justice and has left the UK on a private jet.

Crypto market experts believe that this move is mainly political and an attempt to sway crypto investors. Assange is quite a popular figure in the crypto space, and the release comes just ahead of the US 2024 Presidential Elections scheduled later this year.

Germany Sells 900 Bitcoins To Coinbase And Kraken

AD 4nXdqNSrER2UeVvp8sxwz56Oi ebkWen7 KSpVmg7972C4

A crypto wallet associated with the German Government (BKA) has attracted the attention of crypto sleuths after selling a substantial amount of Bitcoin. The wallet conducted three notable transactions on June 25th, collectively selling 900 BTC, valued at approximately $54 million.

For context, these Bitcoins were seized by German authorities from the operators of the film piracy website Movie2k.to. The Bitcoin, worth over $2 billion at the time, was obtained from nearly 50,000 BTC.

The BKA-managed wallet still retains a balance of 46,359 Bitcoins, as reported by Arkham Intelligence.

Congressman Matt Gaetz Introduces Bill That Would Allow Federal Income Taxes To Be Paid In Bitcoin

AD 4nXfYx8CUW 6BFHF6WK2gXiQYuyx6dL61HmY9R1E3qL2j2dC JIeeEnhtDumcBnPk A97TSvC4B4OA3ZW70lzrmRT0ncegt1IrjYC ryUYK6TJUDFB9 iUR2zOkby9Q11G4F4mk YbNGA9KTVCTJeDeR 0F0?key=p9GClSRrnjEiDORp3r7fTA

Congressman Matt Gaetz has introduced a bill to allow federal tax payments in Bitcoin. The introduction of the bill aims to make Bitcoin a legitimate payment method for taxes right next to the US dollar.

If approved, the bill would amend the Internal Revenue Code of 1986, as the new payment method will need to be accommodated. However, certain challenges will still need to be tackled from a regulatory perspective.

Gary Gensler Says Ethereum ETF Process Is ‘Going Smoothly’

AD 4nXe K6jqOeEuGHE1MKFHuiH3k RcEOAXYQ6tK0TEsl UD5dKKkH1YVouP8gX27o1oOzhPWXyzNkWFmt7zdH enk0DwCk81GmZcIfKNaSAAHqQrx3ZjtMSC0LhJUi4IP1TpO qtekbQrBHgPZtLoQfN3qb db?key=p9GClSRrnjEiDORp3r7fTA

Securities and Exchange Commission (SEC) Chair Gary Gensler says the process of launching the first spot Ethereum exchange-traded funds (ETFs) in the US is “going smoothly.”

However, the SEC Chairman did not comment on when his agency would approve Ethereum spot ETFs for trading, but analysts predict that it could be as soon as next week.

The agency is currently communicating with the issuers about their S-1 disclosure statements, which are largely considered a formality.

Ripple CEO Brad Garlinghouse Says Gensler Will Cause Biden To Lose The Election

AD 4nXf3MnBeirRRB4ybZXR6PT4X278DlIqAW6jr4wy BTMengQBTNCZR3GMk7YMUPKvDBIupJ39BmSM8deCiu7Ii80mwfCSfUSH0B9ZWWYlFgGNpTMPgXwGzV9pqVcrihZgXG16c5kmdXUOLFXmw475ZY1PwWs ?key=p9GClSRrnjEiDORp3r7fTA

Ripple CEO Brad Garlinghouse slammed Gary Gensler for his recent slander about most crypto executives going to jail and tweeted that his approach to regulations would cause US President Jooe Biden to lose the upcoming elections.

During a recent interview with Bloomberg, The securities chairman said the crypto space is rife with non-compliance, which is evident in the number of crypto executives who are in jail or awaiting sentencing.

US Department Of State Announces $5 Million Bounty For OneCoin ‘Crypto Queen’

AD 4nXfQSWYaj L75k5g91GPR9 mdSqWjFOgsrLZ3hunN06yvUaXKfVIPPonxCfuGKlQXLY35nZB2 0S JHWHinSwpeQnWtw7GJuJ4MKRDK4OU3lReHTuMP9FzHkc0 9ioKMItAhPSC0FpsuTUO3fia2maUoYRR?key=p9GClSRrnjEiDORp3r7fTA

The US Department of State increased its reward for the information of OneCoin founder Ruja Ignatova.

In an update to the Federal Bureau of Investigation (FBI) “ten most wanted fugitives” list, the State Department’s Transnational Organized Crime Rewards Program said it was willing to offer a $5 million reward for information concerning Ignatova’s whereabouts that will lead to her arrest and conviction.

Final Thoughts

So that’s it for this week!

To stay ahead of the game with the freshest crypto news and insights delivered straight to your inbox, consider subscribing to UseTheBitcoin’s newsletter today.

Have a fantastic week ahead!