While you were sleeping: Crypto market roundup on July 7

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Bitcoin started Wednesday (July 7th) with a flat trend, trading at $34,718 at 09:59 GMT+3. At one point on Tuesday, the digital coin reached $35,106.

Ethereum, the second largest cap cryptocurrency, also started the day flat, trading at $2,383 at 09:59 GMT+3.

Top stories

Binance suspends payments from SEPA

Cryptocurrency exchange Binance will suspend euro bank deposits from SEPA, one of Europe’s key payments networks, the platform said in an email sent to users on Tuesday. According to the notice,  8 a.m. universal coordinated time on Wednesday, customers would no longer be able to deposit funds through the Single Euro Payments Area (SEPA), The Financial Times reported. The move was due to “events beyond our control”, Binance said in the email.

Brazil’s “King of Bitcoin” arrested over alleged $300m embezzlement

Brazil’s federal police arrested Cláudio Oliveira, the president of the Bitcoin Banco Group, for allegedly embezzling 1.5b Brazilian reais (about $300m) through a cryptocurrency scheme. Oliveira, the self-proclaimed ‘King of Bitcoin’, is suspected of skimming the amount from a large number of investors.

Goldman Sachs: Ether could overtake Bitcoin as store of value

Investment bank Goldman Sachs said that the native crypto of the Ethereum blockchain can overtake Bitcoin as the dominant store of value crypto, the Business Insider reported. The financial institution believes that ether “currently looks like the cryptocurrency with the highest real use potential as Ethereum, the platform on which it is the native digital currency, is the most popular development platform for smart contract applications.”


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