The process leading Bitcoin to the status of world reserve currency could take a decade, according to Kraken’s growth lead. Bitcoin has a good chance of becoming the world’s reserve currency, although we are  “at least 10 years away from that,” said Dan Held, Kraken's head of growth, in an exclusive interview with Cointelegraph. According to Held, the transition to "hyperbitcoinization" —  a world where Bitcoin (BTC) is adopted by billions of users — starts with retail users, then institutional investors, and finally, governments getting involved.The permissionless nature of Bitcoin is the fundamental property that is leading this transition. “It’s true, free money. It’s money that no one can control other than you,” he pointed out.

The comic book giant will launch digital collectibles, 3D models, and "NFT comic books" later this year. Another major brand is making moves in the NFT crypto collectibles space, as the Disney-owned Marvel Entertainment announced this week that it will launch its first official NFTs via the VeVe Digital Collectibles app later this year.
Marvel, of course, is the comic book giant turned entertainment icon, and has spun its classic superheroes like Spider-Man, the Avengers, and the X-Men out from decades of comic stories into popular films, TV shows, video games, merchandise, and more. The company's press release suggests the release of Marvel NFT collectibles, 3D statues, and digital comics, which falls in line with the NFT collectibles that VeVe sells based on other entertainment brands. Its digital collectibles take the form of 3D models that can be viewed on a smart device, in virtual reality, or even augmented reality in the environment around you. Marvel and VeVe have yet to share any images of the forthcoming NFTs.source

The coming proof-of-stake network will make ETH miners obsolete. That doesn't mean they're going away. Ethereum, like Bitcoin, currently uses an energy-intensive process called “mining” to create and distribute new cryptocurrency. The thousands of people globally who help make that happen, known as miners, operate millions of dollars worth of machinery in a race to solve computational problems and earn ETH, the network’s native cryptocurrency. But at some point within the next year, Ethereum will undergo a major upgrade that will fundamentally change how the network operates and how new ETH is created. Ethereum mining will become a thing of the past.more information

Crypto exchange BitMEX has announced that it has committed to carbon neutrality, and will begin a carbon offsetting regime immediately. Bitcoin exchange BitMEX has taken its first steps to immediately begin offsetting carbon emissions caused by withdrawals from the platform. As per a statement on Friday, it will donate at least $0.0026 for every $1 of blockchain fees its clients pay. The exchange credited Sam Bankman-Fried, CEO of crypto exchange FTX and Alameda Research, with determining an estimate of Bitcoin's carbon footprint, saying, "We have no shame in copy and pasting this positive initiative. FTX Exchange has also committed to carbon neutrality, stating they will donate $1 million to various carbon offset programs.more information

American cryptocurrency exchange Gemini has launched a new initiative aimed at offsetting the carbon footprint of its Bitcoin holdings. To accomplish the goal, Gemini has partnered with Climate Vault, a non-profit organization run by the University of Chicago. In an announcement on Thursday, the exchange said it has purchased over $4 million in carbon permits to offset the carbon emissions from using the Bitcoin network between January 1 to June 30 this year. A carbon permit, sometimes called a carbon credit, is sort of like a hall pass that lets companies emit a certain amount of greenhouse gases into the atmosphere. The more a company pollutes, the more credits it needs to offset these emissions. This also creates an incentive to reduce emissions. If a company produces fewer greenhouse gases than its allotted permits allow, it can resell the permits for a profit.more

Traders expect further downside from Bitcoin and altcoins after BTC dropped below a key support level at $36,000. If the ETH/USDT pair breaks below $2,180, the next stop could be $2,079.94 and then $1,728.74. The downsloping 20-day EMA and the RSI in the negative zone suggest that the path of least resistance is to the downside. This negative view will invalidate if the price rises from the current level or the support and breaks above the resistance line of the triangle. Such a move will suggest that bulls are back in command and a new uptrend is likely.source

Bitcoin price drops a leg lower and stocks slump after St. Lous Federal Reserve President James Bullard signals that interest rates could rise by the end of this year. Bitcoin (BTC) and the wider financial markets faced a new wave of selling on June 18 following comments from James Bullard, the president of the United States Federal Reserve Bank of St. Louis, indicating that he expects the first interest rate increase to happen in late 2022. Bullard's comments were even more hawkish than Wednesday’s comments from Fed Chair Jerome Powell, who indicated that the rate hikes would come in 2023. Powell's comments triggered a sell-off across financial markets as the U.S. dollar gained strength.source

But the UK’s central bank still hasn’t decided if it will release one. But despite talking about them today, the UK lags behind other countries in the development of such a technology. In a speech today, the Bank of England’s director of fintech, Tom Mutton, said that the central bank had “not yet made a decision on whether or not one is needed.” Mutton said that a CBDC’s tech would be different to Bitcoin’s, “given its performance shortcomings and energy inefficiency.” He added that “the energy consumption of Bitcoin is not typical of all blockchain and distributed ledger based approaches.”