Finance Minister: Planning to reduce crypto tax in India

Today's Newsletter content

Are we back? Bitcoin in the last 24hrs rose 6.52% and Ethereum 5.5% But don't consider it as a "We're Back" moment. Germany is done with its Bitcoin selling, Weak earnings from banking giants like JP Morgan, and Citi Bank can show weakness in the market.

The TON blockchain announced the TON Applications Chain (TAC) at EthCC in Brussels, utilizing Polygon’s Chain Development Kit (CDK) and AggLayer. This project aims to enable Ethereum developers to create new programs for Telegram users and allow EVM-based decentralized applications to function within the TON ecosystem. The collaboration is expected to enhance scalability, efficiency, and lower transaction costs, driving the development of decentralized applications in gaming and identity solutions on TON’s network.

On July 9, the Bitcoin Fear and Greed Index dropped to 27, its lowest since early 2023, as investor selling pressure increased. The Mt. Gox repayment plan and large BTC transfers by the German and US governments have contributed to market uncertainty. Despite a brief recovery to above $57,000, Bitcoin remains 21% below its all-time high. However, Bitcoin ETFs have seen increased inflows, indicating some investors are buying the dip amid the volatility.

Tether has partnered with the Vietnam Blockchain Association (VBA) to promote blockchain and digital asset education in Vietnam. The collaboration will feature workshops and conferences aimed at increasing blockchain awareness and fostering knowledge sharing. This initiative aligns with Vietnam's growing interest in cryptocurrency, with 17% of the population owning or using digital assets. Tether’s education unit, Tether EDU, will support these efforts, targeting youth and university students to drive blockchain adoption.

Andrew Tate’s meme coin, Daddy, can now be used for hotel, flight, and car bookings via Travala, a Binance Smart Chain-based travel agency. The announcement follows Tate’s recent release from house arrest, allowing him to travel across Europe. Despite this development, the Daddy token’s price fell 8% to $0.1453, continuing a downward trend since its peak in late June. This partnership marks a new trend of celebrities actively backing their own tokens in the crypto market.

MicroStrategy’s Michael Saylor criticized the German government for selling its seized Bitcoin, worth over $2 billion, from the defunct Movie2K site. Data from Arkham Intelligence shows Germany’s BKA has sold nearly all its Bitcoin holdings. Saylor’s message, "You do not sell your Bitcoin," underscores his belief in holding the asset. Despite this, the market faces selling pressure from both the German government and the upcoming Mt. Gox repayments, keeping Bitcoin prices low and market sentiment uncertain.

Significant whale accumulation has been observed in Uniswap (UNI), with a whale spending 2 million USDC to acquire 243,198 UNI tokens. This large transaction, along with another involving Aave (AAVE) and UNI, suggests a possible bullish reversal as UNI trades above crucial support levels. Currently priced at $8.00, UNI’s RSI indicates potential consolidation or a downward trend, but a proposed 44% surge could push the price to approximately $11.57.

Paris Match, famed for its photojournalism, is auctioning archival photos as Ethereum NFTs to mark its 75th anniversary. Starting today, the auction features 75 NFTs of iconic images, including The Rolling Stones, Jack Nicholson, and the Berlin Wall. Each digital file comes with a numbered, signed physical print. Starting bids begin at 0.3 ETH (approx. $1,062). Paris Match partnered with Focus Bloc and SuperRare for this sale, following a successful January 2023 NFT launch. NFT owners receive full digital license rights to their photos, while Paris Match retains all other rights.

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