Learn about Hive Social Blockchain!
https://www.youtube.com/watch?v=GyIy6h0GIzA

​​Every time Bitcoin falls, the skeptics start saying: “I told you, Bitcoin is a scam!”, these are the same people who never read Bitcoin white paper, never owned a Satoshi or sent it to a friend on the other side of the world.

Yes, Bitcoin is a volatile asset, and in one day it can go up by 15% or drop by 15%, because the cryptocurrency market is still very small, and it is traded as a tech stock. We are just at the beginning of crypto technology, the same way we were with internet technology in the 2000s. People don't know how to valuate crypto, the same way investors didn't know how to valuate tech stocks in the 2000s.

During the Dot-Com bubble crash, many empty stocks were hyped and these were the ones that imploded. But the real projects with strong fundamentals and underlying technology like Apple and Microsoft flourished, and people today cannot imagine their life without this technology.

If you believe crypto as a technology is a scam, think about how your life would be without the internet today...

​The UK Government DID NOT proceed with the proposal that would require all people that send funds to private crypto wallets to collect the identification details of holders of these crypto wallets.

Instead, the government has decided to “make the information requirements relating to unhosted wallet transfers applicable on a risk sensitive basis only”.

​Tether, the world’s largest stable coin by market capitalization, is set to be audited by the top 12 firm to provide transparency over its reserves.

After the collapse of the stable coin TerraUSD, the short sellers started to bet against other stable coins, including Tether, causing its price to fall below 95 cents. The CEO of Tether commented that in contrast to TerraUSD, which wasn’t backed by anything, Tether honoured a tonne of withdrawal requests within minutes by redeeming 10% of its assets in 48 hours.

The full audit should bring more transparency and compliance with a regulation; however, if the short sellers will succeed with the bet against Tether, the effect on the crypto market will be catastrophic.

​Latest crypto and financial news. Why markets are down?

📉Bitcoin $25,000

The market hit a new bottom today. Bitcoin fell to $24,900 for 2 hours, after which it rebounded slightly.

Learn what a hardware wallet is, and why you need it for crypto with this 30 sec video:
https://www.youtube.com/shorts/aeb8SxrAAGA

Crypto US Regulation News:

(1) On June 7, U.S. senators released a long-awaited crypto bill. This final version of the bill gives a clearer definition of what digital assets are to be classified as commodities and be regulated by the Commodity Futures Trading Commission. Under this definition, cryptocurrencies such as Bitcoin and Ethereum, as well as fully decentralized cryptocurrencies or cryptocurrencies that don’t act as a security issued by a company as debt or equity or provide any privileges such as rights to profit.

https://fortune.com/2022/06/07/digital-assets-cryptocurrencies-lummis-gillibrand-regulation-bill/

(2) On June 8, crypto regulators in New York published a formal stablecoin guidance to “protect” investors and financial institutions.
Stablecoins traded in New York must be fully backed by assets that are segregated from the issuer’s operational fund and regularly undergo auditing. If the stablecoins are pegged to the U.S. dollar, they must be fully backed by specific assets: (1) a reserve composed of U.S. Treasury bills with no more than three months to maturity, (2) U.S. Treasury notes, some types of U.S. Treasury bonds or (3) reverse repurchase agreements that are collateralized by Treasury bills.

https://www.coindesk.com/policy/2022/06/08/new-yorks-crypto-regulator-publishes-formal-stablecoin-guidance/

A weekly report by Coinshare, Europe's largest digital asset investment firm, suggests investors have more confidence in bitcoin than in any other digital assets products.

The report summarizes inflows and outflows to or from various digital assets, reflecting the overall sentiment of investors.

Major highlights of the report:

This week bitcoin continues to see inflows, regardless of the negative price action, bringing the total year to date of inflows just above over half a billion dollars.

For the past nine weeks, Ethereum has been enduring continuous outflows bringing the total year to date of outflows to US$357m, indicating a negative sentiment of the investors.

Altcoins saw almost no inflows, showing that investors are inclined towards Bitcoin that stood the test of time.
https://jbutterfill.medium.com/volume-83-digital-asset-fund-flows-weekly-report-f1ba0ebf08a3

Central African Republic (CAR), the second country that adopted Bitcoin (BTC) as a legal tender this April, plans to tokenize its national natural resources as a part of a crypto initiative called “Sango.”

On June 2nd, the president of CAR tweeted, “The next step for us, the Central African Republic is the democratization & tokenization of resources, a new chapter with tremendous possibilities.”

CAR is rich in gold, oil, iron, diamonds, copper, uranium, rhodium, limestone, cobalt, manganese and other minerals.
So the role of Sango project is to create a legal framework for tokenization of these natural resources.

https://cointelegraph.com/news/central-african-republic-to-tokenize-the-nation-s-natural-resources