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Cynthia Petion, one of NovaTech's co-founders, allegedly referred to the cryptocurrency company as “God’s vision” and called herself "Reverend CEO”.

The dwindling metric points to declining selling pressure in the bitcoin market.

According to Dave Lavalle, Grayscale Investments' global head of ETFs, the cryptocurrency exchange-traded fund (ETF) market is set to expand.

The U.S. Securities and Exchange Commission (SEC) is suing a crypto startup, NovaTech, for allegedly fraudulently raising more than $650 million from over 200,000 investors, many in the Haitian-American community. The SEC frames NovaTech, founded in 2019 by husband-and-wife duo Cynthia and Eddy Petion, as a multi-level marketing (MLM) scheme -- one that lured investors by claiming to invest in profitable crypto and foreign exchange markets. In truth, NovaTech reserved only a fraction of investor funds for trading, devoting the bulk to its payments to existing investors and commissions for promoters, according to the SEC.

Binji Pande, who works on partnerships at Optimism Unlimited and is contributor to The Optimism Collective, visits two summer retreats and returns with insights about how crypto can get greater user adoption.

Crypto mining is becoming more accessible to everyday people, according to Krypton Mining's Richard Xie

Cryptocurrencies Slip Early Monday as Investors Mull Rebound Signals

(Bloomberg) -- Crypto startups raised more money but closed fewer deals in the most recent quarter, mirroring the broader slowdown seen in the digital-asset world. Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceLos Angeles Sees Remote Work Helping ‘No Car’ 2028 Olympic GamesIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestNYC Subway Riders See ‘Exceptionally High’

From Ripple launching a new stablecoin to Sahm rule hitting the 0.5% increase, here is a 4-minute breakdown of everything important that happened in crypto today.