BlackRock Bullish on Bitcoin, Gemini CEO's 'Delusion', and Disgruntled CEX Staff: Hodler's Digest, July 2-8

Top stories this week

Larry Fink, the CEO of BlackRock, recently made pro-crypto remarks and suggested US regulators consider how an ETF directly pegged to Bitcoin could democratize finance in the country. Under Fink, BlackRock attempted to do so with crypto exchange Coinbase acting as a watchdog partner. It is unclear whether the U.S. Securities and Exchange Commission (SEC) will approve the investment vehicle, given its history of rejecting all previously filed spot BTC ETF applications to date. /p> Gemini Files Lawsuit Against Digital Currency Group and Barry Silbert Over Genesis and Earn Program

Gemini, the Digital Currency Group (DCG) conglomerate and its CEO, Barry Silbert, accuse of "fraud against creditors". Genesis, a subsidiary of DCG, was the crypto lender responsible for operating an Earn program in partnership with the crypto exchange. The lawsuit follows an open letter, which criticized Silbert for allegedly trying to play the victim card while owing Earn's investors more than $1 billion. "Not even Sam Bankman-Fried was capable of such an illusion," Winklevoss wrote in the letter.

Bitcoin bull run incoming: Binance CEO Changpeng Zhao reveals when

Changpeng “CZ” Zhao, CEO of Binance. During an “Ask Me Anything” session on July 5 on Twitter, CZ gave his thoughts on the next bull run, explaining that Bitcoin price has historically moved in four-year bull cycles, and its best bet was that it would continue to happen. . While admitting that he couldn't predict the future, Zhao pointed to Bitcoin's next halving event in 2024 and said that 2025 would be the most likely year for the next bull market, stating, "The year after the Bitcoin halving is usually the bull year. /p>

UK lawmakers have sought to expand the ability of authorities to target cryptocurrencies used for illicit purposes. A June 27 version of the bill included provisions allowing authorities greater flexibility in the confiscation and civil recovery of crypto assets. Additionally, the legislation clarified government authority over digital assets "intended to be used for terrorist purposes" or related reasons. Lawmakers will consider all amendments to the bill before it becomes law by Royal Assent.

Binance, Coinbase, and Gemini Employees Among the Least Satisfied, Data Shows

by tech staffing firm TrueUp using data from Glassdoor, crypto exchanges including Gemini, Binance, and Coinbase are home to some of the industry's least satisfied employees. The chart shows the happiest and least happy workers at over 27 of the most valuable crypto companies at different stages of maturity. Defunct crypto lender Celsius, crypto exchange Gemini, and trading firm Amber Group topped the list of least satisfied employees, followed by Binance and Coinbase. Binance said its "hardcore" working culture could explain some of the results, while Crypto Recruit founder Neil Dundon warned the data should be taken with a grain of salt.

Winners and losers

At the end of the week Bitcoin (BTC) is at $30,321