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Crypto Market Weekly Summary for August 2nd-7th, 2021

Updated: Aug 10, 2021

*The crypto events from the past week, as well as many more were detected by Crowdsense hours or days before reaching the market...

Crypto Market Highlights

  • US Congress expected to vote on new crypto industry crippling taxation bill on Saturday

  • SEC’s Gensler calls on Congress to help rein in crypto 'Wild West’ with a focus on DeFi, stablecoins, and exchange-traded funds

  • Biden Deals Major Blow to Crypto Industry, Backs Plan to Tax Proof-of-Stake

  • Treasury Secretary Janet Yellen Lobbying Against Favorable Amendment to Cryptocurrency Tax Provision

Bitcoin (BTC)

  • SEC’s Gensler Hints at Approval of Bitcoin ETFs based solely on regulated bitcoin futures to the dismay of the bitcoin community

  • Marathon Splashes $120 Million On Bitcoin Miners From Bitmain

Ethereum (ETH)

  • SEC’s Gensler refuses to comment on whether Ether is a security leading to more regulatory uncertainty

  • Ethereum EIP-1559's First Hours: Deflationary Block Mined, Gas Prices Back to Normal

Additional Coins

  • MiamiCoin ($MIA): to Launch Its Own Cryptocurrency, MiamiCoin

  • Ripple ($XRP): SEC vs. Ripple: Judge Grants Request For Binance Documents