Good Morning,

Here's a quick preview of today’s content: A new update form Arkham on yesterday’s Bitcoin whale that sent the space in a spin, US courts finally lets the Tornado cash case to rest, Pumpfun plans to launch its coin next week, Spain’s second-largest bank has launched a Bitcoin and crypto trading and custody service, Turkey shuts down PancakeSwap, and so much more

Happy Tuesday - Let’s dive in.

Market Snapshot

• Bitcoin's weekend rally was reversed Monday, slipping to $107,700 during the U.S. session

• ETH and SOL also headed lower, while XRP outperformed. President Trump set 25% tariffs against Japan and South Korea, while delaying the due date for trade deals overall from July 9 to August 1

  • The president also threatened additional tariffs on countries aligning with BRICS policies

• The Nasdaq and S&P 500 indexes were lower by about -1% on Monday, while yields on 10-year U.S. Treasury bonds also headed higher, nearing +4.4%

Market Predictions

• Bettors on Kalshi are predicting how high Bitcoin will get this year - trade your predictions on a range of events, only on Kalshi

• Sign up with code LIT and get a $20 bonus when you trade $100

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Jack Dorsey launches a Bluetooth messaging app called ‘Bitchat’ that doesn't use the internet and users are already sending BTC (DM)

• U.S. Secret Service builds global network to combat crypto crime, expands international collaboration (BBG)

• Solana-based memecoin generator Pump.fun plans to list its $PUMP token on July 12 - all the details of the launch here

• U.S. appeals court allows Tornado Cash sanctions legal battle to come to an end (TB)

• Arkham links recent 80K BTC whale transfer to a Bitcoin address upgrade (TD)

• Robinhood’s new tokenized equities are being scrutinized by Lithuania’s central bank, its lead regulator in the EU (CNBC)

• Bit Digital swaps entire treasury into Ethereum with $173M splurge, now a top public ETH holder (TB)

• Real estate firm Murano to build Bitcoin treasury through $500M equity deal (CD)

• Drake casually mentions Bitcoin in new track “What Did I Miss?” fueling crypto buzz on X (CT)

• Ethereum co-founder Vitalik Buterin promotes copyleft software publishing to foster open-source innovation (TB)

• Robinhood and OpenAI could lead coming equity tokenization wave, says Bernstein (TB)

• Vitalik Buterin proposes 16.77M gas cap to protect Ethereum from DoS risks (TD)

• TON Foundation seeks VP of marketing following backlash over UAE golden visa program (TB)

• Semler Scientific adds 187 more Bitcoin, now holding over 4,600 BTC (BM)

• Russia to establish a nationwide crypto mining registry to regulate the sector (TB)

• Nakiki SE to become Germany’s first public company with a pure Bitcoin treasury strategy (BM)

• CleanSpark mined 685 Bitcoin in June, worth over $74M at current prices (BM)

• Solana matches all other blockchains combined in MAUs, according to Artemis data (CD)

• Gate.io removes countdown page for Pump.fun’s official token sale without explanation (CT)

• Crypto miner Bit Digital jumps +26% after converting Bitcoin reserves into Ether (CD)

Venture Capital

• Paradigm leads $11.5M round in Kuru Labs, a hybrid decentralized exchange combining CLOBs and AMMs (TB)

• Venture capital funding in crypto rose in June after a multi-month slump (BW)

M&A Announcements

• AI giant CoreWeave to acquire Bitcoin miner Core Scientific in $9B deal (DE)

Launches

• BBVA launches Bitcoin trading for all retail customers in Spain (BM)

• Strategy launches STRD stock program to incentivize long-term holders and contributors (TB)

Regulation

• Ukraine’s Zelensky blocks Russian crypto Telegram channels in new sanctions package (TD)

• Dubai approves first tokenized money market fund, setting RWA milestone for the region (CD)

• Turkish government blocks access to PancakeSwap and several other crypto websites (CT)

Cybersecurity

• UK court sentences two men to prison for $2M crypto cold-calling scam (CT)

• Nigerian scammer posed as Trump associate Steve Witkoff, stole $250K in crypto from political donor (CD)

• Belgium sentences three men to 12 years in prison for crypto-related kidnapping scheme (CT)

• Solana trading bot GitHub repo spreads malware in latest crypto phishing scam (CT)

Extra Reads

• There’s a growing mismatch between how taxpayers think crypto taxes work and how the IRS now expects them to be handled - The Coming Crypto Tax Bomb

• Bitcoin miners gambled on AI last year, and it paid off - When mining got tough, these firms chased AI dreams. Here’s how it panned out

Chart of the Day

Bitcoin has never been stable for this long during a bull market

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

🐦 Follow Us: Visit our X account for daily updates on all things web3, DeFi, & crypto.

💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.

☎️ Book a call with Lit: Want to pick Litquidity’s brain on business advice, insights, or just chat to say what’s up? Buy his time here.

📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend Beehiiv to get started.