The Breakdown

A reading of Alex Kruger's thread: https://twitter.com/krugermacro/status/1675989375765852160?s=46&t=5Nl1EhwpFOmRdaVNr7DApg

Full report from Asgard Markets https://www.asgardmarkets.com/post/the-big-picture

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So much for amicable resolution. After publically threatening a lawsuit earlier in the week, Gemini and their co-CEO Winklevoss twins have filed a lawsuit against DCG and Barry Silbert personally around the Genesis bankruptcy and their accusations of fraud. 

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Fortune dropped a bombshell on Thursday, reporting that numerous executives had left Binance in a very short period of time. While all those execs tweeted that there was nothing conspiratorial or scandalous in their departures, the community isn't convinced. 

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On Wednesday, July 5th, BlackRock CEO Larry Fink gave an interview on Fox that made clear that the Bitcoin ETF initiative was coming all the way from the top. NLW analyses the community reaction and argues that it's all even more significant than the hype suggests. 

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On the eve of the July 4th holiday, Gemini's Cameron Winklevoss published an open letter accusing Barry Silbert and DCG of fraud and demanding they accept terms or face litigation. NLW covers the letter and the community's reaction. 

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Today on The Breakdown, NLW continues coverage of the crypto industry's growing push back against the SEC and overreaching politicians. The show examines the SEC's price-shocking claim on Friday that ETF applications were inadequate, as well as a new motion to dismiss an SEC lawsuit from Bittrex. 

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As the crypto industry takes the fight to the SEC, a reading of Gary Gensler Failed the U.S. Crypto Industry, and So Has Congress

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The crypto industry is officially bringing the fight to regulators. Coinbase has filed a motion to dismiss the SEC's lawsuit against them, while the Blockchain Association is arguing that SEC Chair Gary Gensler should recuse himself from all crypto enforcement actions. 

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Today on The Breakdown, NLW catches up on the Prime Trust saga which came to a head this week. He also looks at the latest in Bitcoin ETF applications and Michael Saylor and Microstrategy's latest big BTC buy.

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The Breakdown is off for a few days this week, but over on Bitcoin Builders things are hot with the Summer Startup Series. On Tuesday, Wednesday and Thursday of this week, NLW is profiling a different startup from the first In Wolf's Clothing Cohort, including a bitcoin-powered gaming tournament company, a popular and scaling lightning wallet, and an exchange app seeking to bring Bitcoin values to Bitcoin trading. 

Check out Bitcoin Builders: https://pod.link/1680067216

Learn more about The Breakdown Network: https://breakdown.network/