Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Donald Trump’s Running Mate: Donald Trump has selected Ohio Senator JD Vance as his running mate for the 2024 presidential race. Announced on Truth Social, this decision aligns with Trump's recent support for cryptocurrency, as Vance is a strong crypto advocate and significant Bitcoin investor.

2. BlackRock CEO: Bitcoin as “Digital Gold”: Larry Fink, CEO of BlackRock, has shifted his stance on Bitcoin, now referring to it as "digital gold" and a legitimate financial instrument.

3.  📈Technical Analysis Masterclass - In a surprising turn of events, Larry Fink, the CEO and Chairman of BlackRock, has shifted his stance on Bitcoin. Watch UseTheBitcoin’s latest Youtube video “BlackRock CEO and Chairman, Larry Fink Believes in Bitcoin” to know what to anticipate and do during these exciting times or join our Official Discord Channel for more alpha!

4. Tether Hires Chainalysis’ Economist: Tether has appointed Philip Gradwell, former chief economist at Chainalysis, to enhance transparency around USDT usage.

5. 💡Feature of the Day - Coinbase vs SEC: Coinbase has refined its legal strategy in its battle with the SEC, now seeking to subpoena communications of SEC Chair Gary Gensler only during his tenure starting April 2021.

   
   All this and more in today’s headlines!

📰 News Highlights:

Donald Trump Picks JD Vance as Running Mate [Source][Source][Source][Source]

In a strategic move for the 2024 presidential race, Donald Trump has chosen Ohio Senator JD Vance as his running mate. Announced on July 15 via Truth Social, Trump's decision aligns with his recent embrace of cryptocurrency, as Vance is known for his strong support of digital assets.

Vance, a former critic of Trump, now stands as a "strong" crypto advocate according to Coinbase’s Stand With Crypto initiative, and holds significant Bitcoin investments.

Vance’s support for cryptocurrency is evident in his financial disclosures, showing he owns up to $250,000 in Bitcoin.

He has also voted in favor of legislation beneficial to the crypto sector, including a resolution to counteract an SEC rule regarding banks' crypto reporting.

BlackRock’s Larry Fink Calls Bitcoin Digital Gold [Source][Source]

Larry Fink, CEO of BlackRock, the world’s largest asset manager, has dramatically shifted his stance on Bitcoin, now referring to it as "digital gold" and a legitimate financial instrument.

In a recent interview, Fink admitted his previous skepticism but highlighted Bitcoin's potential to provide uncorrelated returns and serve as a hedge against currency debasement and economic instability.

BlackRock, managing $10.6 trillion in assets, has significantly increased its Bitcoin holdings. The firm’s iShares Bitcoin Trust recently became the world’s largest Bitcoin exchange-traded investment fund, with inflows exceeding $18 billion.

 📈Technical Analysis Masterclass:

BlackRock CEO and Chairman, Larry Fink Believes in Bitcoin

Once a skeptic, Larry Fink now believes in Bitcoin's potential and asserts its role in investment portfolios. This endorsement from the head of the world's largest asset manager adds to the growing mainstream acceptance of cryptocurrency.

Endorsements Boosting Confidence

• Larry Fink: Admits past skepticism was wrong; now supports Bitcoin.

• Donald Trump: Former U.S. President also voices support.

• Market Impact: High-profile endorsements bolster confidence and reflect a trend of positive news.

Bitcoin's Technical Performance

• Breaking Downtrend: Bitcoin has surpassed key resistance levels at $60,000, $63,000, and is challenging $64,000.

• Strong Momentum: Multiple resistance levels overcome in a single day, indicating strong upward movement.

• Caution Advised: Significant resistance levels present; early buyers might take profits.

  • Buying Strategy: Consider waiting for a pullback to the $62,000-$63,000 range before buying again.

Ethereum and Other Major Cryptocurrencies

• Ethereum:

  • Resistance Level: Challenging $3,400 after breaking downtrend.

  • Strategic Entry: Wait for potential consolidation around $3,300.

• Solana:

  • Resistance Levels: Testing $158 to $160.

  • Buying Zone: Around $154, aligning with potential consolidation.

• BNB (Binance Coin):

  • Consolidation: Still in a large consolidation box.

  • Resistance: Less exciting for short-term trades due to current resistance levels.

Most major cryptocurrencies are breaking resistance levels, indicating a bullish trend. Avoid FOMO; wait for proper timing to enter the market.

Tether Hires Chainalysis’ Economist [Source][Source][Source]

Tether has appointed Philip Gradwell, former chief economist at Chainalysis, to enhance transparency around USDT usage. Announced on July 15, Gradwell will now lead efforts to provide detailed reports on the stablecoin's usage to regulators and stakeholders, addressing longstanding scrutiny over Tether's operations.

Gradwell brings extensive experience from his tenure at Chainalysis, where he analyzed blockchain data and trends.

At Tether, his role will involve engaging with regulators, particularly in the U.S., to clarify USDT’s role in the economy and its backing.

💡 Feature of the Day: 

Coinbase Ongoing Battle With The SEC [Source][Source]

Coinbase has refined its legal strategy in its ongoing battle with the SEC, now seeking to subpoena only the communications of SEC Chair Gary Gensler during his tenure. Initially, Coinbase sought access to Gensler’s communications dating back to 2017, but recent court feedback led to a narrower focus on his time as Chair, starting April 2021.

This legal maneuver comes as Coinbase defends itself against SEC allegations of listing securities without proper registration. Judge Katherine Polk Failla had previously expressed concerns about the breadth of the initial request, prompting Coinbase’s revised approach.

The SEC's lawsuit against Coinbase, filed in June 2023, alleges that the exchange has operated as an unregistered securities broker. The court battle is set to continue, with Coinbase’s opening brief due on July 23 and the SEC’s response expected by August 5.

😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com