Matt Cole: Bitcoin is the best scarce digital commodity to deal with fiat currency depreciation

According to The Block, a federal court judge in Connecticut has reinstated the common law fraud charges against Barry Silbert, DCG, and other defendants in the Genesis Yield lawsuit, and allowed the federal securities law related charges to proceed. Judge Stefan Underhill accepted the plaintiff's argument regarding the Class Action Fairness Act and re examined the relevant state law claims. The case revolves around the Genesis Yield lending project, where investors accuse the defendant of misleading customers before Genesis filed for bankruptcy. The court simultaneously rejected consumer protection claims from four states and suspended claims from three other states.

According to CFTC data, as of the week ending June 30th, hedge funds pushed their net short positions in the Japanese yen to nearly 138000 contracts in the futures and options markets, the highest level since 2007. The Japanese yen has fallen to its lowest point since 1986, breaking below the level of 162 yen per US dollar. The Japanese Finance Minister reiterated that the authorities can take foreign exchange intervention measures at any time.

M1X Global, a tokenized sovereign debt startup, has completed a seed round financing of $5.5 million, led by Paradigm and with participation from Breed VC. The funds aim to promote the use of USDM1 as on chain sovereign collateral.

According to CME's "Federal Reserve Watch", the probability of the Federal Reserve keeping interest rates unchanged in July is 74.3%, and the probability of a cumulative 25 basis point rate hike is 25.7%; The probability of the Federal Reserve keeping interest rates unchanged until September is 42.9%, the probability of a cumulative increase of 25 basis points is 46.2%, and the probability of a cumulative increase of 50 basis points is 10.8%.

The rumor that Michael Saylor sold Bitcoin for dividends has been denied as the price of Bitcoin has exceeded $64000. （Bitcoin Archive）