Russian Court Ruling Finds Bitcoin is Not Property – July 3

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $9,083

Bitcoin price tumbles back down below the $9,100 mark today, as price action looks on track to complete yet another week ranging in the low $9,000s.

Top-20 altcoins are a mixed bag over the last 24 hours, with Ethereum down 1%, XRP remaining unchanged, and Stellar with the largest move, falling 3%.

Top Stories for July 3, 2020 πŸ”₯

πŸ‘‰ Russian Court Ruling Finds Bitcoin is Not Property

A Russian criminal court ruling has denied a victim restitution for the theft of 100 Bitcoin, arguing that Bitcoin has no legal status as property.

The theft occurred in 2018, where the victim was kidnapped and forced to pay the thieves cash and 99.7 Bitcoin, which would now be worth over USD$900,000.

The court still ruled partially in favor of the victim, ordering the thieves to repay the victim 5 million rubles – however this only equates to just over USD$70,000, less than ten percent of the value of the stolen coins.

πŸ‘‰ 5 Major Cardano Announcements Made at Shelley Summit Day 1

Cardano’s Shelley Virtual Summit kicked off today, with the project’s parent company, IOHK, making 5 major announcements for the platform.

The announcements included a large update to the Cardano code (to be implemented via hard-fork late this month), a decentralized identity system, two types of development funds, and a product accessibility initiative.

πŸ‘‰ USDC Total Supply Jumps 37% in June, Surpasses 1 Billion

The total supply of CENTRE’s USD Coin stablecoin (USDC) has passed 1 billion, following a 37% increase over the month of June.

The supply has almost doubled since the beginning of the year, with a 93% increase – making USDC the clear-cut second most popular stablecoin in the cryptocurrency ecosystem.

The largest stablecoin is still Tether’s controversial USDT token, which has a total supply of well over 9 billion.