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What a rollercoaster ride it's been in the crypto market lately!

Bitcoin (BTC) had us all holding our breath as it took a steep dive to $49,577, but then it pulled off an impressive 26% surge in just three days.

Here’s what we got for you today:

• 📊 The latest crypto market insights!

• ⚖️ Russia's new law on crypto mining!

• 🧱 Around The Block: Crypto executives clash with Democratic leaders in heated Zoom meeting.

📊 The latest Crypto Market Insights!

The crypto market had us all worried over the weekend and Monday, but things are looking up now!

Bitcoin (BTC) took a nosedive to $49,577 on Monday, but in just three days, it skyrocketed 26% to hit $62,729.

As of yesterday evening, it was holding strong at $61,611—that’s an impressive 11.2% jump in just one day!

But it wasn’t just BTC that stole the show— Ethereum (ETH) had its own stellar day, soaring 13.5% to $2,723 before easing to $2,668.

And the other cryptos weren't about to miss out on the party.

BNB climbed nearly 8%, Toncoin shot up 13.6%, Solana gained 11.2%, and even Dogecoin wagged its way to an 11% rise!

But while BTC and ETH were on a roll, things got a little tricky for some investment funds.

The Grayscale Bitcoin Trust (GBTC) saw a massive outflow of $182.94 million, while Wisdomtree’s BTCW fund managed to pull in $118.52 million.

On the Ethereum side, Grayscale's Ethereum Trust took a hit, facing outflows of about $19.83 million, though its mini Ethereum Trust managed to bring in $5.02 million.

The full story on fund flows isn’t quite clear yet—Thursday’s data is still trickling in, so there might be some surprises.

For now, let’s celebrate this incredible turnaround because, let’s be honest, no one knows what next week might have in store!

And don’t worry; we’ve got you covered with all the updates—so stay tuned! In the meantime, check out the full report on this story here.

⚖️ Russia's New Law on Crypto Mining!

In 2022, Russia's central bank proposed banning Bitcoin and crypto mining, but now, in 2024, a significant change in direction has been made.

President Putin has just given the green light to crypto mining by signing a new law in Russia!

The new law allows only Russian legal entities and individual entrepreneurs listed in a specific register to mine cryptocurrency.

However, individuals can also mine digital currencies without being registered as long as they stick to government-set energy consumption limits.

And that's not all!

The law also opens doors for trading foreign financial digital assets on Russian blockchain platforms.

But not without some restrictions.

The Bank of Russia, for example, has the right to ban the placement of certain digital asset issues if it finds them to threaten Russia’s financial stability.

There are also strict controls on the advertising and promotion of cryptocurrencies, and offering digital assets to an unlimited number of people is a big no-no.

Too much? Perhaps not! All of this is likely to prevent potentially risky investments from spreading like wildfire.

Now, when does all of this go into effect?

The law will come into effect ten days after its official publication unless there are specific provisions stating otherwise.

If you want to dig into more details, click here!

🧱 Around The Block

• Crypto executives clash with Democratic leaders in heated Zoom meeting.

• Genesis bankruptcy distribution moves 10.7K ETH to new addresses.

• Economist Alex Krüger says a repeat of March 2020-style recovery likely underway – Here’s why.

• BTC, ETH rebound even as Genesis continues repayments.

• Michael Saylor says he personally holds $1 billion in Bitcoin.

• Do Kwon’s extradition from Montenegro postponed yet again.

• Brazil is set to debut its first Solana ETF.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.