Bitcoin tourists leave the market, Peter Schiff's bank closes and Voyager restructures: Hodler's Digest, July 3-9

Available every Saturday, Hodler's Digest will help you follow every major news story that happened this week. The best (and worst) quotes, adoption and regulatory highlights, major coins, predictions and more - a week on Cointelegraph in one link.

Top stories this week Shutting down Peter Schiff's bank bolsters Bitcoin's case for financial freedom

Bitcoin enthusiast and gold peddler Peter Schiff saw his bank in Puerto Rico, Euro Pacific International Bank, shut down this week as regulators shut it down on the grounds that the bank failed to maintain minimum net capital requirements . Schiff noted that as a result, "accounts are frozen and customers can lose money." The crypto community on Twitter was quick to jump in, with pseudonymous user HodlMagoo noting the priceless irony: "Do you understand why you need bitcoin now?"

Bitcoin 'tourists' purged, only hodlers left: Glassnode

According to Glassnode's "The Week On-Chain" report published on Monday, supposed "market tourists" have been completely "purged" from the BTC market, leaving only hodlers or seasoned investors trading with the asset. The report also stated that "shrimp" - those holding less than 1 BTC, and whales - those holding between 1,000 and 5,000 BTC - "increased significantly".

Ethereum testnet Merge generally successful - "Hiccups will not delay the merge."

Ethereum developers completed the penultimate test merge on Sepolia's public testnet this week. There was a slight setback, with 25-30% of validators going offline after the merge due to "misconfigurations". However, developers such as Terence Tsao have stated that "hiccups won't delay the merge". The final merger trial on Goerli is expected to happen in the next few weeks, and it looks like the official Ethereum merger is on track for now.

Voyager Digital files for Chapter 11 bankruptcy and proposes recovery plan

On Tuesday, Voyager Digital filed for bankruptcy as part of a “reorganization” plan just days after the crypto exchange suspended transactions, withdrawals and deposits. As part of this plan, Voyager seeks to make users whole again by offering a combination of Voyager tokens, crypto, proceeds from the takeover of Three Arrows Capital, and common stock of the newly reorganized company.

> The Bottom Is Here: CNBC's Jim Cramer Says Crypto Has 'No Real Value'

The crypto community on Twitter joked that the crypto low was here after Jim Cramer predicted the market would plunge further, saying the crypto had "no real value". Cramer has earned a reputation in the crypto community for giving stock/crypto advice that usually ends up at odds with market behavior. "How many businesses can Sam Bankman-Fried save?" he said.

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