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Bitcoin, Ethereum, and Tether are becoming real hits in the narcotics business. Mexican drug lords prefer popular crypto tokens to fiat money to make payments in fentanyl trade, U.S. Treasury warns. The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has issued an alert concerning the growing use of cryptocurrencies by Mexican cartels. Infamous drug traffickers are buying fentanyl ingredients with popular digital assets. The cartels are sourcing materials from Chinese suppliers. They are actively using Bitcoin, Ethereum, Monero, and Tether for those purchases. Which shouldn't come as a surprise, as these tokens are the most popular in the crypto world. Payments often land in hosted wallets at crypto firms. Some transactions involve secondary money transmitters. This trend isn't new to U.S. authorities. Recent sanctions and criminal cases have highlighted the issue. In October, the Justice Department charged eight China-linked companies. These firms faced allegations of illegal drug activities. The charges included production, distribution, and sales of precursor chemicals. Fentanyl overdoses are now the leading cause of death for Americans aged 18-45. The drug's potency is alarming. It's 100 times stronger than morphine. China is a major source of fentanyl precursors. Later these chemicals travel through multiple countries. Their final destination in most cases is the United States.

A California nonprofit has begun a major advertising push to highlight concerns about Tether. Consumers' Protection is spending millions on TV ads, billboards, and digital outreach. The campaign centers on a 30-second TV spot. It asks: "Is Tether the next FTX?" The ad labels Tether the "go-to cryptocurrency for the world's worst." The nonprofit cites Tether's lack of a full audit as a key issue. This mirrors criticisms of FTX before its collapse. Billboards will appear in high-profile locations. These include Times Square in New York and mobile displays in Washington, DC. A new website accompanies the campaign. It features stark visuals and links to critical media coverage of Tether. The effort underscores stablecoins' growing prominence. Will Hild, executive director of Consumers' Protection, stated: "Consumers should be weary [sic] of any so-called stablecoin that refuses to properly certify that they actually hold the assets they claim." Research suggests limited consumer use of stablecoins currently. Bloomberg reported in May that less than 10% of stablecoin transactions involve "real people." Tether is pushing into the consumer market. It launched a Telegram-based mobile app in May. PayPal's new PYUSD stablecoin also targets consumers. Regulatory challenges loom for Tether, some crypto exchanges are delisting USDT ahead of new EU rules. Consumers' Protection, founded in 1929, is a US nonprofit. It receives backing from religious and conservative groups. The organization runs other campaigns on issues like ESG investing and corporate "wokeness."

Mark Cuban, billionaire investor, thinks Joe Biden might lose the next elections if he keeps covering for Gary Gensler, chief of Securities and Exchange Commission's (SEC), on cryptocurrency regulation. Cuban argues that the US crypto industry faces some unique challenges. And Gensler is not helping anyone with his infamous politics. "Gensler's suing everybody," Cuban explains. The registration process is the main issue, according to Cuban. He notes that other countries, including Singapore and Japan, do not face similar problems. Cuban claims that regulatory issues allow illicit activities in crypto to persist. He suggests this could have political ramifications. "If he has a political career in mind, he's done," Cuban says of Gensler. He adds that Gensler "literally could cost Joe Biden the election." Cuban cites crypto ownership among younger generations as a key factor. And the difficulty in registering cryptocurrencies creates opportunities for "scam coins." That bureaucracy is created by Gensler. And Biden supports that, Cuban notes. The investor's comments highlight growing tensions between the crypto industry and regulators. These tensions could influence voter sentiment in the upcoming election. Mark Cuban is a prominent entrepreneur and owner of the Dallas Mavericks NBA team. He is one of the most influential leaders of the crypto community. Gary Gensler is the current Chairman of the SEC, appointed by President Biden in 2021. Gensler has finally approved Bitcoin ETFs and is about to approve Ethereum ETFs, Thought many market experts thinks it is all going way too slow. Cuban being one of them, obviously. President Biden is seeking re-election in November 2024. He faces challenges including economic concerns and geopolitical tensions. His opponent, ex-President Donald Trump is now a big crypto supporter. Trump even started accepting crypto donations and claims all the remaining Bitcoin must be mined in the U.S. A stark contrast to Biden's crypto stance, to say the least.

Marathon Digital Holdings has initiated a pilot project in Finland. The project recycles heat from Bitcoin mining to warm a local community in the Satakunta region, which has 11,000 residents. The 2-megawatt data center began operations in May. "This pilot project in Finland is a critical step forward in our strategy to expand globally and innovate sustainably," Fred Thiel, Marathon's chairman and CEO, said. Thiel also emphasized the dual benefits of producing digital assets and heating homes. It is the company's first district heating project and its European debut. District heating involves centrally heating water and distributing it to local buildings. Finland is known for its clean energy mix. The country relies heavily on biomass for district heating. The project aims to reduce carbon emissions and operating costs by using heat from data centers. Marathon's "Heating with Hashes" report provides context for the project. "Europe's colder climate has given rise to an extensive network of district heating systems," the report states. It notes that data centers benefit from the cooler temperatures in Europe. The report highlights a unique opportunity. Data centers in the EU consume a higher share of electricity compared to the global average. These facilities generate significant heat, which can be recycled for district heating. Marathon sees this as a win-win situation. "One industry needs heat, while the other generates plenty of it," the report explains. This approach could reduce costs and waste while decreasing reliance on carbon-emitting heat sources. The project aligns with Marathon's sustainability goals. The mining company now operates twelve sites on four continents. The company has high hopes with the heating market. Marathon aims to enhance its sustainability portfolio through heat recycling. It also seeks to explore new revenue streams. These efforts align with its goal of achieving zero-cost power for digital asset computing.

A new proposal for a Solana ETF has surfaced in Canada. This development comes after the establishment of spot Bitcoin ETFs in the U.S. The initial approval of spot Ethereum ETFs also occurred last month. Canadian investment fund manager 3iQ filed to offer The Solana Fund (QSOL). The company claims it would be North America's first Solana exchange-traded product if approved. Solana (SOL) is the fifth-largest cryptocurrency. It has a market cap of $61 billion. Bitcoin, Ethereum, Tether, and Binance Coin precede it in size. 3iQ plans to list the fund on the Toronto Stock Exchange. This listing relates to an initial public offering. "The Solana Fund offers easy exposure to SOL without technical complexity," stated 3iQ. They added, "As part of our investment strategy, the Solana Fund will stake SOL to earn rewards." 3iQ already offers Bitcoin and Ethereum ETFs. Their move to support Solana fuels speculation about future cryptocurrency approvals in the U.S. British bank Standard Chartered made predictions about future SEC approvals. They believe Solana and XRP will be next to receive ETF approval. Geoffrey Kendrick, Standard Chartered's head of crypto research, commented on the similarity to Ethereum. He said, "In several cases the core technology is so similar to ETH it would be difficult for the SEC to claim they were securities given the ETH position." Tether and WAX co-founder William Quigley shared his thoughts with Decrypt. He expects fund managers to move to the "next hot new thing" with Solana as a likely option. Quigley elaborated on the trend. "Every time Wall Street packages a new product to sell to consumers, if that product is successful, you can guarantee there will be copycats," he said. He pointed to the massive investments in Bitcoin spot ETFs. Bloomberg analyst James Seyffart noted Canada's early adoption of crypto ETFs. He also highlighted the existing global market for Solana funds. Seyffart tweeted about the scale of existing Solana ETPs. "You guys would be stunned to realize we already have over $1 billion in Solana ETPs elsewhere in the world," he wrote. He included a list of funds from providers like 21Shares, VanEck, and WisdomTree.

Shiba Inu's adoption rate is accelerating at a fightening speed. The meme coin has secured another significant partnership. Crypto.com, a prominent digital asset exchange, has announced its inclusion in Visa card payments. The exchange revealed this development via X. Shiba Inu joins other popular meme coins like Floki, PEPE, and Dogwifhat (WIF) in this integration. The Crypto.com Visa card is a prepaid crypto card programme. It functions similarly to a standard debit card. However, it can be used for both digital asset transactions and ATM withdrawals. The card supports over 100 digital assets, including major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Crypto.com has an extensive network of more than 40 million Points of Sale (POS) worldwide. This network could significantly boost SHIB's adoption. Shiba Inu investors will now be able to use this Visa card for daily transactions globally. One could have hardly imagined this a couple of years ago when a scandaloud meme coin was launched. At the moment, the lucky crypto card is available in Singapore, the United States, the United Kingdom, Europe, Canada, and various other countries. Both SHIB investors and regular crypto users can now utilize the Crypto.com Visa card for SHIB-related payments. The exchange's X post revealed that investors can fund their Visa card with Shiba Inu via their crypto wallets. This allows for seamless transactions through card payments. Shiba Inu continues to expand its reach through support from various cryptocurrency exchanges globally. The meme coin is listed on most of the world's popular and renowned exchanges, including Binance and Coinbase. SHIB is the second-largest meme coin by market capitalization, and its popularity is still growing. This growth is fueled by its humorous meme coin status and position in the crypto space. The cryptocurrency's large community holds millions of users. The integration with Crypto.com's Visa card is a major step for Shiba Inu. The humorous meme coin is marching towards mainstream adoption.

Bernstein research firm has revised its Bitcoin price forecast. Analysts now expect the cryptocurrency to hit $200,000 by 2025. This is up from their previous target of $150,000. The prediction is based on anticipated spot Bitcoin ETF inflows. Analysts project these ETFs will hold 7% of circulating Bitcoin supply by 2025. "Bitcoin ETFs are nearing approvals at major wirehouses and private bank platforms in Q3/Q4," wrote analysts Gautam Chhugani and Mahika Sapra. They view institutional basis trade as a catalyst for adoption. Currently, 80% of spot Bitcoin ETF flows come from retail investors. Institutional investors are still late to the party. Net new flows into Bitcoin ETFs have reached $15 billion. But analysts expect this figure to grow significantly. And their most bold predictions assume that by 2025, ETFs will hold 7% of Bitcoin supply. By 2033 this indicator could go to insane 15%. It will translate into new price levels. Bitcoin price to hit $200,000 by 2025 and $1 million by 2033, analysts claim. Bernstein forecasts spot Bitcoin ETF assets under management to reach $190 billion by 2025. They predict this could grow to $3 trillion by 2033. The analysts believe Bitcoin has entered a new bull market cycle. This is driven by the recent halving event, which reduces miner sell pressure. "We believe Bitcoin is in a new bull cycle," the analysts stated.

Singapore updates money laundering risk assessment. New report, published by local authorities, identifies digital payment tokens as high-risk. The 126-page document covers sectors not included in a previous 2014 report, it adds precious stone and metal dealers to the list of concerns. Banking industry poses highest money laundering risks. Banks are vulnerable due to large transaction volumes, serving high-risk consumers add some additional dangers, too. Banks are more susceptible to criminal exploitation due to their role in facilitating large transaction volumes and serving high-risk customers. But it's digital payment token providers who stand out as high-risk. Authorities report an increase in cases involving these services. Singapore has a small share of global digital token activities. However, officials closely monitor associated risks. Other high-risk areas include cross-border money transfer services. External asset managers also pose significant threats. The report is a collaborative effort, it involved supervisory and law enforcement agencies. Key money laundering threats stem from fraud and cyber-crime, organized crime, corruption, and tax evasion follow. Criminals exploit Singapore's financial infrastructure. They often convert illicit funds into assets like real estate. The Monetary Authority plans to amend the Payment Services Act, as this will expand regulation of digital token services.

The iconic French magazine Paris Match is celebrating its 75th anniversary by auctioning a series of archival photos as NFTs. The auction will feature 75 Ethereum NFTs of iconic photos. Each NFT will come with a numbered and signed physical print of the same image. Starting bids for each photo will begin at 0.3 ETH. That's about $1,062 at the time of writing. That's a fair price for the photos that are symbols of their respective cultural eras. The photos selected for the auction include cultural icons such as The Rolling Stones, Jack Nicholson, Orson Welles, and John Travolta. News reports on the Berlin Wall, Harlem, and the Tour de France will also be featured. Paris Match has partnered with photo NFT platform Focus Bloc and NFT marketplace SuperRare for the auction. This marks the magazine's second foray into NFTs. Paris Match debuted in January 2023 with a sale of 120 one-of-ones. Emmanuel Daien, Focus Bloc's founder, says there was an interesting mix of traditional photo collectors and crypto-native NFT enthusiasts during the initial sale. The auction format and the inclusion of physical prints alongside the digital files may appeal to both groups. Owners of Paris Match NFTs will receive full digital license rights to the photos they hold. But it' worth mentioning that Paris Match will retain all other rights associated with the images.

MicroStrategy keeps buying Bitcoin. Shown its unwavering commitment to the leading ctyprocurrency, Michael Saylor's company recently acquired a whopping 11,931 BTC at a cost of $786 million. The purchase was carried out between April 27 and June 19, 2024. The Bitcoin were bought at an average price of $65,883 per coin. As of June 20, 2024, MicroStrategy, led by a prominent crypto bull Michael Saylor, holds an impressive total of 226,331 bitcoins. MicroStrategy remains the largest public Bitcoin holder, owning 1% of BTC's total supply. The average purchase price per bitcoin stands at $36,798, including fees and expenses. That puts Saylor in green with rather impressive profit margins. Even at the current price levels, not to mention any surge to $100,000 or above that. Saylor has recently predicted that Bitcoin will cost $8 million per coin someday. He also outlined his personal 21 rules of HODLing Bitcoin. With its latest acquisition, MicroStrategy continues to blaze a trail in the adoption of digital assets. It remains to be seen how this bold strategy will play out in the long run. But one thing is certain: MicroStrategy's faith in Bitcoin shows no signs of wavering. Michael Saylor, the charismatic co-founder and CEO of MicroStrategy, is a visionary entrepreneur, often compared with the likes of Steve Jobs and Elon Musk. Saylor's credo is simple, yet powerful. He believes that Bitcoin is the future of money. He hopes Bitcoin will revolutionize the global financial system. He once stated, "Bitcoin is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don't have the option or desire to run their own hedge fund." Another memorable quote from Saylor is, "I think that Bitcoin is the most important invention of the human race since the invention of fire."