Cryptocurrency News & Live Updates
Synopsis
Tornado Cash’s price surged nearly 5% following a U.S. appeals court’s decision to dismiss a lawsuit against the Treasury Department, linked to the lifting of sanctions by OFAC.
Tornado Cash’s token, TORN, experienced a nearly 5% increase after a U.S. appeals court dismissed a lawsuit against the Treasury Department, signaling a significant shift in regulatory sentiment. Meanwhile, Bitcoin slipped below $108,000 as President Trump announced new tariffs on Japan and South Korea, impacting market sentiment. In the mining sector, BitFuFu reported a notable increase in bitcoin production and hashrate, highlighting its expansion across five continents. Additionally, XRP is facing competition from Circle’s new payment network, which could challenge its market position. As XRP consolidates around $2.20, traders are closely watching its performance against key resistance levels. The interplay of regulatory developments, market dynamics, and competitive pressures continues to shape the cryptocurrency landscape.
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TORN Rises 5% After Court Dismisses Tornado Cash Lawsuit
Tornado Cash’s price surged nearly 5% following a U.S. appeals court’s decision to dismiss a lawsuit against the Treasury Department, linked to the lifting of sanctions by OFAC.
Bitcoin Dips Below $108K as Tariffs Increase
Bitcoin’s recent gains were wiped out as it fell below $108,000 amid rising tariffs imposed by President Trump on Japan and South Korea.
BitFuFu Achieves 36.2 EH/s Hashrate in June
In June, BitFuFu mined 445 bitcoins, an 11.3% increase from May, while expanding its infrastructure globally, achieving a hashrate of 36.2 EH/s and a power capacity of 728 MW.
Circle’s CPN: A Potential Challenge for XRP
As XRP stabilizes around $2.20, Circle’s new payment network poses a significant threat, leveraging stablecoins for faster cross-border transactions.
Can XRP Bulls Overcome the $2.42 Resistance?
XRP is showing resilience despite market uncertainty, approaching a crucial resistance level at $2.42, where volume will be key to determining the next price movement.
CleanSpark Achieves 685 BTC Production in June
In June, CleanSpark produced 685 BTC, reaching a total of 3,968 BTC for the year, while improving its mining efficiency to 16.15 J/TH and expanding operations across four states.
U.S. Tariffs Target Malaysia, Kazakhstan, and South Africa
President Trump has announced a 25% tariff on imports from Malaysia and Kazakhstan, along with a 30% tariff on South African imports, as part of ongoing trade policies.
Goldman Sachs Anticipates Fed Rate Cut in September
Goldman Sachs suggests that the Federal Reserve may reduce interest rates in September due to easing tariffs and falling inflation. The expected terminal rate range has been adjusted to 3.00% – 3.25%, down from the earlier forecast of 3.50% – 3.75%.