Bitcoin Sell Pressure In July & New Ethereum Project Backed By Vitalik Buterin

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Join Matt and Nick as they discuss the state of the market; Ethereum and Solana ETF updates; the SEC suing Consensys; the MegaETH funding round; altcoin updates; and more.

Key Takeaways

  • Mt. Gox will start incrementally distributing its ~142,000 BTC to creditors this month. While some BTC will be instantly sold by recipients, the amount of sell pressure will likely not be as large as some may expect.
  • Spot Ethereum ETFs are expected to go live slightly later than most expected. Still highly likely they launch in July.
  • The SEC sued Consensys, alleging that it violated federal securities laws because some of its offerings are brokers of ‘crypto-asset securities’. In the lawsuit, the SEC alleged that Lido (LDO) and Rocket Pool (RPL) were securities, causing a sell-off.
  • Among the altcoin updates covered: BLAST valuation opens at less than market expectations and Solana introduces blockchain links, or blinks.

Important upcoming macro dates:

  • Jul. 3: U.S. trade deficit
  • Jul. 4: U.S. employment report
  • Jul. 11: U.S. CPI inflation data

Next FOMC meeting and rate probability as per CME FedWatch Tool:

  • In 28 days, there is a 91.2% confidence rate that interest rates will NOT change from 5.25–5.50%

Truflation snapshot:

  • Today’s U.S. Truflation: 1.83%
  • Latest annual CPI data: 3.30%

00:00 Intro
00:16 Market Update
03:46 Mt. Gox Bitcoin Repayments
07:31 Ethereum ETF Delays
11:28 Legal Battles: SEC vs. Coinbase and Consensys
15:35 Vitalik Invests In MegaLabs, Developer of MegaETH
18:19 Altcoin Updates: Blast, Solana, Arbitrum, AO, Toncoin
28:27 ETF Launch & EthCC (July 8–11)
29:00 Polymarket Growth
29:55 Big Firms Entering the Crypto Space