Crypto Trends Weekly 3 – 9 July

    13 Jul 2021

    Breaking crypto news from the last week (3 – 9 July 2021):

    03 July: Bitcoin mining becomes more profitable, as China’s crackdown against crypto brings a significant part of miners to go offline and is relocating to other countries.

    04 July: As cryptocurrencies remain a major source of investment, it still remains major questions about how to secure investors’ funds. That’s why an expert explained to the Deseret News how to avoid cryptocurrency scams.

    05 July: Not only mining: Investment banks such as J.P. Morgan and leading firms outside of the financial sector seek out prominent employees for the growing cryptocurrency-related sector with salaries up to $250,000 a year.

    06 July: Alex Mashinsky, Celsius Network CEO, suggested that Ether has already started “flippening” Bitcoin by market capitalization. He said that Ethereum has already overtaken Bitcoin based on the US dollar value of holdings in Celsius’s network of over a million users.

    07 July: The Reserve Bank of New Zealand will open up public consultations regarding a central bank digital currency (CBDC) and the new digital money like stablecoins as a “solution” to the ongoing reduction in cash usage.

    08 July: China’s central bank deputy governor said the bank is “quite worried” about risks from private digital currencies, particularly so-called stablecoins, such as Tether, while China is testing its own digital yuan.

    09 July: Israel said Thursday it seized over $7.7 million on cryptocurrency accounts used by the Palestinian Hamas group to raise funds for its armed wing using Bitcoin and other cryptocurrencies.

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