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Crypto & Web3CoinDesk ·

JPMorgan warns Strategy's bitcoin sales policy creates two-way market risk

JPMorgan has raised concerns about Strategy's policy of selling bitcoin to raise funds, warning it introduces unnecessary uncertainty into crypto markets. The bank argued that this approach creates two-way risk, meaning it could pressure prices in either direction. JPMorgan suggested that Strategy should instead rely on equity issuance as a means of building cash reserves. The bank's position implies that selling bitcoin holdings is an avoidable source of market volatility that could be mitigated through alternative financing methods.

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Crypto & Web3CoinDesk ·

US Job Growth Slows Sharply in June, Adding Only 57,000 Payrolls

The United States recorded a significant slowdown in job creation in June, with only 57,000 payroll positions added during the month. This figure represents a sharp deceleration compared to previous months of stronger employment growth. The weaker-than-expected jobs data was released this morning and quickly drew attention from financial markets. Analysts suggest the report may dampen expectations of a near-term Federal Reserve interest rate hike, which some had anticipated as early as this summer or fall.

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Crypto & Web3CoinDesk ·

Korean Nasdaq Firm Dumps Bitcoin Holdings Entirely, Pivots to AI Infrastructure

A Nasdaq-listed Korean media company has completely exited its Bitcoin holdings, with a recent regulatory filing confirming its crypto balance stands at zero. The firm had previously attempted to replicate MicroStrategy's Bitcoin acquisition strategy, securing $1 billion in financing to purchase 10,000 Bitcoin. The company has now shifted its strategic focus toward AI infrastructure instead. The pivot comes as the firm also battles to maintain its Nasdaq listing, signaling broader financial difficulties.

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Crypto & Web3CoinDesk ·

EU Opens Review of MiCA Crypto Regulation Three Years After Its Passage

Europe's landmark cryptocurrency regulatory framework, MiCA, is now undergoing a formal review process informally dubbed 'MiCA 2.0.' The consultation, which seeks input on potential revisions to the framework, is set to close around September. The review comes three years after MiCA was originally enacted into law across the European Union. Authorities are reassessing the framework to determine whether updates or expansions are needed to address evolving conditions in the crypto market.

Warsh's comments set the stage for U.S. jobs data to ignite bitcoin, gold rally · ShortSingh