Congress Declares Crypto Week as Elon Embraces Bitcoin 💰
Washington is even more crypto crazy than we are right now, and Congress is officially rolling out the red carpet for crypto with an entire week dedicated to digital assets. Three major bills are sitting on the table, and lawmakers are finally ready to give crypto the regulatory clarity it deserves.
Meanwhile, Elon is also going through his own political conversion, ditching our crypto president for his own, de facto Bitcoin Party, … We definitely can’t wait to see if the grass will be greener on this side, or if things go south
Spicing it up with a little bit more drama because FTX is back in with the shocker of shockers, freezing payments quicker than you can say ring the bankruptcy court.
Here are the Highlights:
- U.S. House of Representatives declares July 14th “Crypto Week”
- Elon Musk Says America Party Will Embrace BTC as 'Fiat Is Hopeless'
- FTX estate asks court to freeze payouts in ‘restricted’ countries
- Hackers stole $140M from Brazil’s central bank service provider
U.S. House of Representatives declares July 14th “Crypto Week”
The U.S. House of Representatives has designated the week starting July 14 as “Crypto Week,” as lawmakers consider three landmark bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act, in a comprehensive push to establish the United States as a global leader in digital assets. During Crypto Week, lawmakers will review the CLARITY Act, a bipartisan bill that aims to end years of regulatory ambiguity by clearly delineating the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in overseeing digital assets.
Elon Musk Says America Party Will Embrace BTC as 'Fiat Is Hopeless'
Elon Musk's 'America Party', a pro-tech centrist party the Tesla and SpaceX founder plans to form after his split from President Donald Trump, would embrace bitcoin (BTC) Musk said on X. Musk has been a long supporter of cryptocurrencies, with SpaceX and Tesla both holding BTC in their corporate treasuries. The America Party formed out of a rift between Musk and President Trump over the 'Big Beautiful Bill', which Musk has criticized as being fiscally irresponsible, calling it the "debt slavery bill".
FTX estate asks court to freeze payouts in ‘restricted’ countries
FTX’s bankruptcy estate has raised concerns over payouts to creditors in countries with ambiguous or restrictive cryptocurrency regulations. On Wednesday, the FTX estate filed a motion with the US Bankruptcy Court for the District of Delaware, seeking authorization for the FTX Recovery Trust to freeze distributions to creditors in “potentially restricted foreign jurisdictions.” The jurisdictions — 49 countries in total — have unclear or restrictive crypto laws, potentially posing risks due to complex cross-border legal implications.
Hackers stole $140M from Brazil’s central bank service provider
Hackers have stolen 800 million Brazilian reais (approx. $140 million) from six financial institutions connected to Brazil’s Central Bank. The breach occurred through C&M Software, a third-party service provider responsible for linking the central bank to domestic banks. According to Brazilian media outlet São Paulo, the attackers gained access by purchasing an employee’s login credentials for roughly $2,700. This access enabled the hackers to infiltrate the system and transfer funds from reserve accounts.
Other Highlights Worth Mentioning
$20M crypto scam victim who sued Citibank says 2 more banks liable - Coinstats
Ripple applies for US banking license, joining crypto rush for legitimacy - Cointelegraph
Ukraine Sanctions 60 Firms and 73 Individuals Linked to Russia’s Crypto Evasion - BeInCrypto
Standard Chartered Predicts Bitcoin to Smash $135K by Q3, $200K by Year-End - Bitcoinnews.com
COINIGY MEME OF THE WEEK
COINIGY FACT OF THE DAY
July 7, 2010 - Bitcoin version 0.3 was released.
This release was an important early milestone in Bitcoin's development, improving the software and helping to stabilize the network. A few days later, on July 11, 2010, the release was mentioned on Slashdot, which brought a large influx of new Bitcoin users. This surge contributed to a rapid increase in Bitcoin's exchange value, which rose roughly tenfold over five days, from about $0.008 to $0.08 per BTC by July 12, 2010