Coming every Saturday, <\/i><\/b>Hodler\u2019s Digest<\/i><\/b><\/a> will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more \u2014 a week on Cointelegraph in one link.<\/i><\/b><\/p>\n\n \u00a0<\/p>\n \u00a0<\/p>\n Avid Bitcoin hater and gold peddler Peter Schiff saw his bank in Puerto Rico, Euro Pacific International Bank, shut down this week, with regulators pulling the plug on the grounds that the bank was not maintaining the net minimum capital requirements. Schiff noted that, as a result, \u201caccounts are frozen and customers may lose money.\u201d The crypto community on Twitter was quick to swoop in, with pseudonymous user HodlMagoo noting the priceless irony: \u201cDo you understand why you need bitcoin now?\u201d<\/p>\n \u00a0<\/p>\n According to Glassnode\u2019s \u201cThe Week On-Chain\u201d report published on Monday, supposed \u201cmarket tourists\u201d have been completely \u201cpurged\u201d from the BTC market, leaving only seasoned hodlers or investors transacting with the asset. The report also stated that \u201cshrimps\u201d \u2014 those holding less than 1 BTC, and whales \u2014 those with 1,000 to 5,000 BTC \u2014 were \u201cincreasing meaningfully.\u201d<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Ethereum developers completed the second-to-last Merge trial on the Sepolia public testnet this week. There was a minor hiccup, with 25-30% of validators going offline after the Merge due to \u201cwrong configs.\u201d However, devs such as Terence Tsao stated that \u201chiccups will not delay the Merge.\u201d The final Merge trial on Goerli is slated to go through in the next few weeks, and it appears the official Ethereum Merge is on track for now.<\/p>\n \u00a0<\/p>\n On Tuesday, Voyager Digital filed for bankruptcy as part of a \u201creorganization\u201d plan just days after the crypto exchange paused trading, withdrawals and deposits. Under the plan, Voyager is looking to make users whole again by offering a combination of Voyager tokens, crypto, proceeds from the Three Arrows Capital recovery, and common shares in the newly reorganized company.<\/p>\n \u00a0<\/p>\n The crypto community on Twitter has joked that the crypto bottom is in after Jim Cramer predicted that the market will plunge further, saying that crypto has \u201cno real value.\u201d Cramer has developed a reputation in the crypto community for giving stock\/crypto tips that generally end up being at odds with how the market behaves. \u201cHow many companies can Sam Bankman-Fried save?\u201d he said.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n At the end of the week, Bitcoin<\/span> (<\/b>BTC<\/b><\/a>)<\/b> is at <\/span>$21,804.19<\/b>, Ether<\/span> (<\/b>ETH<\/b><\/a>)<\/b> at <\/span>$1,239.99 <\/b>and <\/span>XRP<\/b><\/a> at <\/span>$0.35<\/b>. The total market cap is at <\/span>$960.9 billion<\/b>, <\/span>according<\/span><\/a> to CoinMarketCap.<\/span><\/p>\n Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Curve DAO Token <\/span>(CRV)<\/b> at 49.12%, Convex Finance <\/span>(CVX) <\/b>at 41.45% and THORChain <\/span>(RUNE)<\/b> at 25.95%.\u00a0\u00a0<\/span><\/p>\n The top three altcoin losers of the week are Amp <\/span>(AMP)<\/b> at 8.52%, KuCoin Token <\/span>(KCS) <\/b>at 7.17% and UNUS SED LEO <\/span>(LEO) <\/b>at 5.98%.<\/span><\/p>\n For more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u201cCelsius has refused to acknowledge the truth or their failures in risk management and accounting.\u201d<\/span><\/p>\n<\/blockquote>\n Jason Stone<\/b><\/a>, CEO and founder of KeyFi<\/b><\/p>\n \u00a0<\/p>\n \u201cIn the future, we see blockchain as one way to bring more empowerment and independence to communities on Reddit.\u201d <\/span> Reddit<\/b><\/a>, social media platform<\/b><\/p>\n \u00a0<\/p>\n \u201cThere\u2019s a lot of peripherals that are just not getting tested and that\u2019s unavoidable and probably fine.\u201d <\/span> Vitalik Buterin<\/b><\/a>, co-founder of Ethereum<\/b><\/p>\n \u00a0<\/p>\n \u201cCrypto really does seem to be imploding. Went from $3 trillion to $1 trillion. Why should it stop at $1 trillion? There\u2019s no real value there.\u201d <\/span> Jim Cramer<\/b><\/a>, host of CNBC\u2019s Mad Money<\/b><\/p>\n \u00a0<\/p>\n \u201cWe need now to bring in the regulatory system that will manage those risks in the crypto world in the same way that we manage them in the conventional world.\u201d <\/span> Jon Cunliffe<\/b><\/a>, deputy governor for financial stability at the Bank of England<\/b><\/p>\n \u00a0<\/p>\n \u201cThe Bitcoin network is approaching a state where almost all speculative entities, and market tourists have been completely purged from the asset.\u201d <\/span> Glassnode<\/b><\/a>, blockchain analytics firm<\/b><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Bloomberg\u2019s senior commodity strategist, Mike McGlone, has predicted that BTC could be due for \u201cone of the greatest bull markets in history\u201d during the second half of 2022, arguing that the bottom is in and the floodgates could be primed to slam open. He cited the market activity in the first half of 2022 as being similar to the bottom of the bear market in 2018, which then went on to surge in the first six months of 2019.<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n According to cyber intelligence company Cyble, a new strain of crypto malware is being spread via YouTube. The malware, named PennyWise, tricks users into downloading software that\u2019s able to siphon data from more than 30 crypto wallets and crypto-browser extensions. PennyWise can also take screenshots and steal sessions from chat applications such as Discord and Telegram.<\/p>\n \u00a0<\/p>\n On Friday, it was reported that Celsius had transferred nearly 25,000 Wrapped Bitcoin (WBTC) worth $528.9 million to the FTX crypto exchange. The move has raised concerns that a dump could soon follow, resulting in a potential plunge in the price of BTC.<\/span><\/p>\n \u00a0<\/p>\n KeyFi, an investment firm that previously managed $2 billion worth of Celsius assets, has filed a lawsuit against the troubled lending company over an alleged failure to honor a profit-sharing agreement \u201cworth millions of dollars.\u201d KeyFi has accused Celsius of refusing to honor a \u201chandshake agreement\u201d that would see it take home certain percentages of the profits it made on Celsius\u2019 behalf via staking and DeFi strategies.<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Cointelegraph sat down with Chess Grandmaster Garry Kasparov at Consensus 2022 to get his thoughts on the crypto and NFT market.<\/span><\/p>\n By amalgamating the world of fashion with the Metaverse, brands and their clients stand to benefit a lot.<\/span><\/p>\nTop Stories This Week<\/b><\/h2>\n
Peter Schiff\u2019s bank closure strengthens Bitcoin case for financial freedom<\/b><\/a><\/h4>\n
Bitcoin \u2018tourists\u2019 have been purged, only hodlers remain: Glassnode<\/b><\/a>
<\/h4>\nEthereum testnet Merge mostly successful \u2014 \u2018Hiccups will not delay the Merge.\u2019<\/b><\/a><\/h4>\n
Voyager Digital files for Chapter 11 bankruptcy, proposes recovery plan<\/b><\/a><\/h4>\n
The bottom is in: CNBC\u2019s Jim Cramer says crypto has \u2018no real value\u2019<\/b><\/a><\/h4>\n
![\"\"](\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/07\/Digest_09-07_3-1-1024x682.png\")
<\/p>\nWinners and Losers<\/b><\/h2>\n
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<\/span><\/p>\nMost Memorable Quotations<\/b><\/h2>\n
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<\/span><\/p>\n<\/blockquote>\nPrediction of the Week\u00a0<\/b><\/h2>\n
Bloomberg analyst tips bullish BTC recovery in next six months<\/b><\/a><\/h4>\n
FUD of the Week\u00a0<\/b><\/h2>\n
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<\/b><\/a><\/h4>\nPennyWise crypto-stealing malware spreads through YouTube<\/b><\/a><\/h4>\n
Celsius moved $529M worth of wBTC to FTX exchange: Should we be worried?<\/b><\/a>
<\/h4>\nBombshell allegations of fraud as KeyFi takes Celsius to court<\/b><\/a><\/h4>\n
Best Cointelegraph Features<\/b><\/h2>\n
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<\/b><\/a><\/h3>\nBear market? \u201cSo what,\u201d says World Chess Champion Garry Kasparov<\/b><\/a><\/h3>\n
How the Metaverse can revolutionize the fashion industry<\/b><\/a><\/h3>\n
What does a bear-market \u2018cleanse\u2019 actually mean?<\/a><\/b><\/h3>\n