Crypto Market Update 07-07-23

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Happy Friday everyone!

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First weekly news recap of July and no days off here, welcome again to the roundup of news you can't miss 📰😎

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Last 7 Days Market Performance 

Bitcoin is up 0.7%, now at $ 30,351.00 📈

Ethereum is up 1.0%, now at $ 1,872.00 📈

Total crypto market cap: $ 1.22 Trillion

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Fact for the week:

We've all heard about ChatGPT's boom and how it broke all user records, reaching 1 million in just 5 days. Until then, the record belonged to instagram, with 1 million users in 2.5 months. Just by comparison, Netflix took 3.5 years to get it. But welcome to the new record-breaking world! This week Mark Zuckerberg's Meta announced the launch of Threads, an app that wants to rival Twitter, and in just 1 hour it surpassed 1 million users. 🤯 

Onto this week’s updates 🚦

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🔴 Not Binance again… 😶

Well, the truth is we couldn't help it and Binance enters our red light for the third week in a row! After Europe and the United States, now it's Australia's turn. The cryptocurrency exchange's local offices were searched by Australia's markets regulator as part of an investigation into its derivatives business, and seems that Binance has a worldwide problem now… at the same time high profile figures are departing from the crypto firm, with the CSO, VP of compliance and General Counsel being some of the most prominent figures to jump ship. 🚣

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🟡 Bitcoin and AI perfect match 💍

Arthur Hayes is no stranger to crypto and traditional finance world, being one of the most successful crypto founders and now a hugely successful investor, he was considered the youngest African-American crypto billionaire in history. Now his opinion goes along with what we always considered, Bitcoin is the perfect currency for artificial intelligence. In his essay written in a blogpost, Hayes further predicts that if AI and Bitcoin adoption intertwine, Bitcoin could reach $760,000 in 2025/26. 🚀

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🟢 Bitcoin = Digital Gold 🔥

BlackRock is also for the third week in a row in our green light! So first things first, BlackRock is the world's largest asset manager, with more than $9 trillion (Yes, trillion!) in assets under management as of today. And this week Larry Fink, its CEO, said he viewed Bitcoin as having the role of “digitizing gold.”. Well, don't take it lightly when it comes from one of the most powerful men in the financial world. Blackrock has been studying bitcoin for a long time, but they always said they had no interest when in practice they were making moves behind doors. Watch what they do, not what they say. 👀

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🎬 The crypto space keeps its fuel alive! Behind the rumors and small talk, there is a real fundamental value that will determine the future of our economic and financial system. Don't neglect the potential of technology and keep an eye out.🤓

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Talk next week. 👋

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