GM Brew Crew, U.S. inflation fell to 3% (lower than expected), the sky is blue, sun rays are firing, and a morning blend is in the pot. Let’s dive in ⬇️

On the menu today:

• 🇰🇷 SOUTH KOREA TIGHTENS CRYPTO REGULATIONS

• 🤯 LESS THAN 12% OF BITCOIN SUPPLY IS ON EXCHANGES

• ⛏ VANGUARD OWNS $560 MILLION OF BITCOIN MINING STOCKS

Today’s Charts:

🇰🇷 SOUTH KOREA TIGHTENS REGULATIONS

Following the initial requirement for public officials to declare their cryptocurrency holdings, South Korean authorities have expanded their scope and are now seeking disclosure of such assets from all domestic companies. 

South Korea's Financial Services Commission (FSC) made an announcement on July 11th regarding a new bill that will enforce mandatory disclosure of cryptocurrency holdings

This will apply to all firms involved in issuing or holding digital assets like Bitcoin.

This announcement follows up on reports that the FSC has mandated internal employees to disclose their cryptocurrency holdings if they have been engaged in any crypto-related activities on a regular basis.

Brewski will have a lot of disclosing to do when he decides to change up the scenery and hit South Korea 😂

🤯 LESS THAN 12% OF BITCOIN SUPPLY IS ON EXCHANGES

Bitcoin exchanges now hold the same BTC supply share as in late 2017, with less than 12% of the BTC supply residing in exchange wallets.

What does this mean? Large amounts of BTC are moving off of exchanges and being put into cold storage. People storing their BTC in cold storage are way less likely to sell and BTC available for sale is decreasing.

BTC balances on Coinbase have more than halved since the March 2020 crash. This is a significant decline!

The number of Bitcoin whales, entities with large wallet balances outside exchanges, is increasing, with around 40 new whales emerging since late April.

⛏ VANGUARD OWNS $560 MILLION OF BITCOIN MINING STOCKS

Vanguard Group, a $7.2 trillion asset manager, has increased its exposure to Bitcoin mining companies including Riot Platforms and Marathon Digital.

Vanguard increased its Marathon Digital holdings by 60%, from 10.9 million shares to 17.5 million shares, representing an investment of $280.5 million.

The company also raised its stake in Riot Blockchain by nearly 18%, from 15.2 million shares to 17.9 million, equating to over $281 million.

Vanguard has now acquired a 10.24% stake in Riot Blockchain, the world’s largest Bitcoin mining company.

Idk… is it safe to say institutional money is coming? Asking for a friend here 🧐

Special Blend: Morning Meme Roast

As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!

***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.