Episode Details

10th July: Crypto & Coffee at 8
🟠Bitcoin’s deepest correction since 2022 🔴RNC Endorses Pro-bitcoin Platform 🔵Paxful co-founder pleads guilty 💯 TON Application Chain Integrates Ethereum DApps

🔥 Bulls Under Pressure
- Glassnodes Week on chain newsletter states Bitcoin has experienced its deepest correction since late 2022, trading below the 200DMA, and putting a significant number of Short-Term Holders into an unrealized loss. Summary here 
- Bitcoin records the deepest drawdown of the current cycle, over -26% from ATH.
- 2.8M BTC held by Short-Term Holders now in unrealized loss.
- Financial pressure is high but losses are relatively subdued compared to market size.
🎙️ Full report here https://lnkd.in/dtQmR7VS Onramp MENA Ralph Gebran, M.Fin. some great info here Check out the Blockchain DXB podcast we share more information about it Brett Singer

🟠 Make Bitcoin Great Again!
❗ The Republican National Committee panel has approved a draft of its 2024 party platform, which includes robust support for Bitcoin. The draft explicitly states on page nine that the party will advocate for the right to mine Bitcoin and ensure every American can self-custody their digital assets and conduct transactions without government surveillance or control. Additionally, it pledges to halt what it describes as the Democrats’ “unlawful and un-American crackdown on crypto” and opposes the introduction of a Central Bank Digital Currency (CBDC). More info via Bitcoin Magazine here https://lnkd.in/dh9JbwVg 

⚡ Artur Schaback, former CTO of Paxful Inc., pleaded guilty to conspiracy for not maintaining an effective anti-money laundering (AML) program from 2015 to 2019. Despite marketing Paxful as KYC-free, he failed to implement proper KYC protocols, presented fake AML policies, and did not report suspicious activities. This allowed crimes like money laundering and fraud on the platform. Schaback faces up to five years in prison and will be sentenced on November 4th. Official info by U.S. Department of Justice here https://lnkd.in/dTmXps7x 

💯 TON Application Chain (TAC) and Polygon Labs have announced a collaboration to integrate Ethereum Virtual Machine (EVM) functionality into the TON ecosystem. This integration will enable decentralized applications (DApps), including those in DeFi, gaming, and identity solutions, to operate on TAC using Ethereum-compatible tools like Polygon CDK and Agglayer. TAC aims to leverage this partnership to enhance DApp integration within Telegram, potentially reaching a vast user base. The initiative seeks to expand the utility of the TON network by facilitating access to a broader range of crypto applications for users.

🟠 Two UAE news (See slides)
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