Here we are, I am on the road again, but I’m stable for about a week. That allows me to do the whole week of shows.
🕵️ Hacker Spent $2K to Steal $140M From Brazil’s Central Bank
🇸🇪 Sweden Orders Police to Ramp Up Seizures of Criminal Crypto Profits
📈 Bitcoin Marks Best Weekly Close as Musk, Trump Drive Market Optimism
🐳 Bitcoin Whale Moves $8B in Largest Daily BTC Transaction Ever
💰 Crypto Funds Post $441M Inflows Amid 'Extreme Greed' Sentiment
📉 Trader Cobb & Market Training via The Grow Me Co
I also went live this morning to show you the process of making the podcast also to chat with you. I'm thinking of going live every morning just to do live news before the actual podcast goes out. Same content but different format. I'm just trying to experiment with different formats of delivering you the news.
Brazil’s Record $140M Heist via Insider Bribery
"This was not hacking of the system—this was hacking of the people in the system."
A stunning cybercrime unfolded in Brazil last week as hackers looted roughly $140 million from six banks by bribing a single employee for just $2,760. While that might seem trivial by U.S. standards, it likely represented a full month's wage in Brazil. The attackers exploited the C&M software access of a contractor who worked with Brazil’s PIX instant payment system—a core financial infrastructure.
The attackers bypassed individual customer accounts and instead drained central bank reserve funds. The funds were swiftly laundered through Bitcoin, Ethereum, and Tether, with up to $40 million converted before law enforcement could intervene.
Brazil's central bank has confirmed the CMM system wasn't technically breached but was used as a gateway due to inadequate internal safeguards. Investigations are ongoing and some funds have reportedly been recovered from regulated crypto platforms.
My Take
This is another reminder that people—not code—are usually the weakest link in cybersecurity. Whether it’s Coinbase hacks, phishing attempts, or this Brazilian breach, it's clear that "hacking the people" is where modern attacks are concentrated. What’s the result? We’re automating ourselves out of jobs. The more trust is eroded in human gatekeepers, the more likely AI will take over those roles—customer service reps, security reviewers, account managers—replaced by systems less susceptible to bribery.
Sweden's Seizure Law: Building a Bitcoin Reserve?
"Maybe they just don't want to tell you. And that should be enough, in my opinion."
Sweden has begun seizing cryptocurrency and other assets without proven criminal charges under a new forfeiture law. Introduced in November, the law allows the government to confiscate property if the owner can't explain the origin of their assets—even without being charged with a crime.
So far, around $8.4 million has been seized. Justice Minister Gunnar Strömer is calling for intensified cooperation between financial and legal authorities. Some politicians, like Sweden Democrat Dennis Diokarou, even support turning these seized digital assets into a national Bitcoin reserve.
But no official plans have been revealed regarding the seized crypto’s long-term use.
My Take
This introduces a dangerous incentive structure. If governments can collect assets merely because people choose not to disclose their origin, you incentivize seizure—especially when those assets are used to build a Bitcoin reserve or plug budget shortfalls. In the U.S., we already see state funding threatened or manipulated through executive pressures. This kind of law opens the door for more perverse incentives: “We need more revenue? Let's seize more crypto.” It’s a slippery slope that starts with "safety" and ends with erosion of financial privacy.
Bitcoin Hits $109K Amid Trump Policy, Musk Endorsement
"Traders are now eyeballing a potential price surge to $136,000 in July."
Bitcoin closed last week at a record $109,200, propelled by two powerful forces: President Trump and Elon Musk. Trump delayed new tariffs until August 1 and passed a massive spending and tax bill, raising the debt ceiling by $5 trillion and making the 2017 tax cuts permanent.
Musk, in a rare break from Trump, launched his New American Party, publicly supporting Bitcoin and labeling fiat currency as “hopeless.” The combination of fiscal stimulus and political support for Bitcoin reinforced BTC's position as a hedge against currency debasement.
Some analysts now predict a surge to $136,000 before July ends.
My Take
The macro backdrop for Bitcoin is increasingly bullish. Inflation, debt monetization, and political realignments are all part of the Bitcoin story now. And Musk calling fiat “hopeless” may just be the final PR push we need to reintroduce Bitcoin to the mainstream as more than just digital gold—as a hedge against institutional failure.
Whale Awakens: 80,000 BTC Moved After 14 Years
"That's so much damn Bitcoin and money, it's insane."
An early Bitcoin whale moved 80,000 BTC last Friday—worth $8.6 billion—after sitting idle for 14 years. The transactions were broken into batches of 10,000 BTC each, presumably for security or liquidity reasons. All signs point to these coins originating from early mining rewards.
This was one of the largest movements of old BTC in crypto history and stirred speculation about ownership and potential market impact. The coins appear to remain dormant post-transfer, with no major exchange activity reported—yet.
Listener Questions
What do you think about governments seizing your assets just because you can’t explain where they came from?
Send your thoughts to matt@dailycryptonews.net or comment on Substack or Spotify.
Market Analysis from Trader Cobb
"If we take out 112,000, we’ve got a strong weekly trend lining up with a beautiful monthly."
Craig Cobb, aka Trader Cobb, joined us to break down Bitcoin’s current momentum. He explained how Bitcoin is sitting between $100K and $110.7K, with a clear higher low forming. A break above $112K would confirm a weekly uptrend, aligning with the already strong monthly trend.
Cobb also highlighted that strong non-farm payroll numbers in the U.S. increase the likelihood of rate cuts, which could inject more liquidity into risk assets like Bitcoin.
He’s watching for a third test of Bitcoin’s upper resistance level to trigger a swing trade setup. Cobb also pointed to a possible cradle trade setup in LQTY, aligning across the 2-day and 4-day timeframes.
Crypto Prices (as of July 7, 2025 – 10:26 AM EST)
Bitcoin (BTC): $108,269
24h: -0.6%
7d: +1.0%
Market Cap: $2.15 trillion
Ethereum (ETH): $2,550
24h: -0.4%
7d: +4.0%
Market Cap: $307.4 billion
XRP: $2.23 (+2.6%)
BNB: $661 (0.0%)
Solana: $152 (+1.0%)
USDC: $1.00 (Stablecoin)
Tron: $0.287 (+1.0%)
Dogecoin: $0.169 (-1.1%)
Cardano: $0.585 (+0.3%)
Total Market Cap: $3.35 trillion
The market feels poised.
Happy HODLing, Everyone.
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