Quote of the week:
“[New York will] become the center of life science, the center of cybersecurity, the center of bitcoins … We’re going to be the center of all the technology.” – Eric Adams, New York City Mayoral Candidate. Source: https://news.yahoo.com/eric-adams-mayor-bitcoins-174019892.html
Mass Adoption: On July 7, global payment giant Visa announced that its crypto-enabled card processed upward of $1 billion in total spending in first half of 2021. The company is contributing to the development and mass adoption of the cryptocurrency industry. Source: https://cointelegraph.com/news/visa-reports-over-1-billion-in-crypto-spending-in-h1-2021
International Regulation: Russia is preparing legislation to allow for law enforcement to apply restrictive measures and allow law enforcement agencies to confiscate illegally obtained cryptocurrencies. Cryptocurrency bribes and use by criminals have been on the rise in Russia and the country is making all efforts to put an end to it. Source: https://www.coindesk.com/russia-to-introduce-rules-for-confiscating-crypto-report
Market Trends: On July 7, Bitcoin was trading at around $34,000.00 and Ethereum was trading at around $2,634,00. At that trading price, Bitcoin was down 1% over the past week, while Ethereum was up about 3% over the past week. As many seem to be more crypto bullish this past week, Ethereum has prevailed and has outperformed Bitcoin. Source: https://www.coindesk.com/market-wrap-ether-outperform-bitcoin-sentiment
Going Public: Circle, a stablecoin partner of Visa and Goldman Sachs-backed fintech company, officially announced its plans to go public via a SPAC. In a $4.5 billion deal, Circle is planning on going public via a merger with blank-check company Concord Acquisition Corporation and will be listed on the New York Stock Exchange under the ticker “CRCL.” Source: https://cointelegraph.com/news/breaking-stablecoin-firm-circle-to-go-public-in-4-5b-blank-check-deal
United States Regulation: On July 8, the Democrat senator Elizabeth Warren stated that she needed crypto legislation answers by July 28 in a letter to the SEC chair Gary Gensler. Source: https://www.coindesk.com/elizabeth-warren-sec-deadline-crypto-regulation