The crypto world was buzzing today with numerous events that sent ripples throughout the market. Let's dive into what happened. In a dramatic political turn, President Joe Biden announced his withdrawal from the 2024 election, a decision that shook the crypto markets. Biden-themed coins saw a notable downturn, while Trump-related meme coins surged in response. This shift has created a unique opportunity for the Democrats to regain crypto support, as new potential nominees look to shape the future of crypto policies in the U.S. Biden's endorsement of Vice President Kamala Harris for the upcoming election hasn't calmed the markets. The crypto community is currently debating Harris's stance on cryptocurrency, as it remains largely unclear. Meanwhile, Trump's selection of JD Vance, a known pro-crypto advocate, for his VP position has intensified market sentiment with Vance even demanding Biden's resignation. In a significant security breach, WazirX, India's largest cryptocurrency exchange, fell victim to a $230 million hack. In a bid to recover the stolen assets, the exchange announced an $11.5 million bounty program, hoping to reclaim lost SHIB and ETH assets. This comes as a major move to restore investor confidence and security in the platform. Metaplanet made headlines as it increased its Bitcoin (BTC) holdings by purchasing ¥200 million worth of the cryptocurrency. This move significantly boosted investor confidence, resulting in a 20% surge in Metaplanet's share prices on the Tokyo Stock Exchange. This is an exciting development as we see more institutional players making bold moves in the crypto space. In other market news, Hong Kong is set to launch Asia's first inverse Bitcoin ETF, providing traders with a tool to profit from Bitcoin price declines amidst market volatility. This new financial instrument is expected to help investors manage risks more effectively. Meanwhile, the Shiba Inu (SHIB) community received a stern warning from lead developer Shytoshi Kusama about fraudulent TREAT tokens and impersonators. The team has urged the community to remain vigilant against scams and misinformation, reinforcing the importance of security in the crypto space. As speculations rise, it's rumored that both Elon Musk and Donald Trump might attend the 2024 Bitcoin Conference in Nashville. Musk's recent change of his profile picture on X to show laser eyes could be a bullish signal for Bitcoin (BTC) enthusiasts. Investment funds in the crypto domain continue to see positive trends, with digital asset products attracting $1.35 billion last week. This brings the total to $3.2 billion in the past three weeks, indicating growing investor confidence and positive market sentiment. Binance completed its 28th quarterly burn, destroying 1.64 million BNB tokens worth $971 million. This move also introduced a new real-time burning system tied to gas fees, showcasing Binance's continued efforts to manage token supply and demand dynamics. In a strategic move, Animoca Brands' Mocaverse has partnered with the TON Foundation and MOCA Foundation for a token swap and alliance. This partnership aims to enhance user engagement and create a large interoperable consumer network in the crypto industry. On another note, Mt. Gox, the once-collapsed Bitcoin exchange, is starting significant repayments to its long-awaited creditors. This move might signal a potential influx of Bitcoin (BTC) into the market, which could have notable implications. Amidst ongoing political shifts, digital asset groups are urging Kamala Harris to adopt a pro-crypto stance, emphasizing the need for clear and supportive crypto policies from potential future leaders. Bitcoin (BTC) is making bold moves, surpassing $67,000, driven by investor excitement about Trump's potential influence and the upcoming Bitcoin Conference in Nashville. Several spot Ethereum (ETH) ETFs, including heavyweights like Fidelity and Invesco Galaxy, are set to launch tomorrow on the CBOE. This could mark a significant step for Ethereum, as these products await final regulatory approval. NPC Labs, a Web3 gaming infrastructure startup, has raised an impressive $21 million, with $18 million coming from a seed round led by Pantera Capital. Founded by former Coinbase employees, NPC Labs aims to enhance the gaming infrastructure within the Web3 ecosystem. Notably, SEC Chair Gary Gensler is expected to resign by early 2025, according to 10x Research founder Markus Thielen. This prediction is tied to anticipated administrative changes following the 2024 election. Dogecoin (DOGE) is experiencing increased interest and price activity with analysts predicting a significant rally. Bullish patterns and growing whale transactions hint at a potential all-time high for the meme coin. The US spot Ethereum ETFs, set to launch on July 23rd, are expected to draw $1.2 billion monthly. The NYSE Arca has approved listings for Grayscale and Bitwise, following SEC's confirmation, marking a pivotal moment for Ethereum ETFs. Swan Bitcoin has made tough decisions, canceling its IPO, cutting staff, and shutting down its managed mining unit amidst shifting market dynamics. Finally, XRP is showing signs of a major breakout. Analysts are eyeing the crucial $0.600 resistance zone, suggesting that a new all-time high might be on the horizon for the token. Stay tuned as we continue to bring you the latest developments in the crypto world, helping you stay informed and ahead of the curve.
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