BTC breaks through the $103000 mark

Odaily Planet Daily News: Dio Casares, a consultant at Patagon Management, a proprietary trading company, wrote an article on X discussing the institution's investment in Circle. Dio Casares stated at the end of the article, "We are assisting interested clients in locking in profits (with an average return rate of about 400% as of the time of publication). This orange has already been squeezed out of most of its juice, and our own holdings will gradually be liquidated in the coming months, turning to other opportunities - after all, our internal return threshold is extremely high. But I dare to assert that Circle's hidden cards will far exceed market expectations

BlockBeats News: On June 24th, according to official announcements, the US Securities and Exchange Commission (SEC) announced that Kevin Muhlendorf will officially become the agency's new Inspector General on July 28th. Mr. Muhlendorf has worked as a lawyer at the SEC and the Department of Justice. For the past nine years, he has been a partner at Wiley Rein LLP in Washington, D.C., specializing in representing individuals and entities in white-collar crime defense and government investigation affairs in criminal and civil securities enforcement cases. Acting Inspector General Katherine Reilly will return to her position as Deputy Inspector General. During his private practice, Mr. Muhlendorf often leads sensitive internal investigations and provides compliance advice to clients. During the period of 2023 to 2024, he was stationed at Wiley Rein as the Acting Inspector General of the Washington Metropolitan Area Transportation Authority (WMATA), leading approximately thirty auditors and special investigators to conduct investigations and release financial and performance audit reports. He also designed and implemented a pilot project for rewarding whistleblowers.

According to Foresight News, Real Vision founder Raoul Pal tweeted that 90% of Bitcoin's price volatility is driven by liquidity, while the proportion for the Nasdaq 100 Index (NDX) is 97%. The remaining part is influenced by market acceptance (i.e. application popularity). The relative performance of tokens or stocks is almost entirely dependent on verifiable network effects (i.e. market acceptance or application popularity).

According to Money Today, the Digital Asset Exchange Association of Korea (DAXA), consisting of the five major cryptocurrency exchanges in South Korea (Upbit, Bithumb, Coinone, Korbit, and Gopax), announced that starting from June 24th, all exchanges in South Korea that exchange fiat currency for cryptocurrencies will adopt a withdrawal delay system. This measure aims to prevent voice phishing scams, where criminals exchange stolen funds for virtual assets. Although some exchanges have voluntarily implemented similar systems before, there are differences in standards and processes among platforms, which has raised concerns about the overall effectiveness of these measures in preventing such fraud.

According to CoinDesk, Texas Governor Greg Abbott recently signed Senate Bill 21, making the state the first in the United States to establish publicly funded Bitcoin reserves. The state will allocate $10 million to purchase Bitcoin, becoming the first state in the United States to actually invest (rather than just authorize) in establishing cryptocurrency reserves. Lee Bratcher, Chairman of the Texas Blockchain Commission, stated that although this investment only accounts for 0.0004% of the state budget, it sends an important signal that Texas recognizes the future of digital finance. The supporting bill HB 4488 comes into effect simultaneously, prohibiting the transfer of Bitcoin reserve funds into the state's regular fiscal revenue.