Good afternoon,

It’s been a tough week for the Bitcoin price. I think it’s time we all shared a drink and have some peer based counseling. One thing is for sure we’ll talk about the need for holding bitcoin in your own keys and not having someone else hold your Bitcoin for you.

We’ll be meeting at The Cellar at 6pm tonight for this week’s meetup. Please consider RSVPing for the meetup to ensure you have a seat for the event. Space is limited so priority is given to those that RSVP. When you get to The Cellar ask for the Bitcoin group or just head over to the Lansdown Room in the back. We’ll have the Meetup sign up on the end of one of the tables to help you find us.

We don’t have any speakers lined up for this meeting but there’s plenty to talk about! Patrick Ulrich will be bringing SHAmory: The Bitcoin Card Game for anyone that’d want to play. Otherwise here’s some news events in the Bitcoin space over the last week but there’s been far more happen in the world.

Bitcoin Metrics for 6/14
Price: $22,145 as of 740,798
Money Supply: 19,067,279.68 BTC
Percentage Issued: 90.79%
Fee Rate: 9 sat/vB
Hash Rate: 218.0 EH/s
Difficulty: 30.3×1012

Coin Center has filed a court challenge against the Treasury Dept. over unconstitutional financial surveillance
– our very own Dan Carman challenged the United States Department of the Treasury and the IRS regarding the unlawful amendment to the infrastructure bill

Celsius Freezes Withdrawals
– “Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts”
– company manages more than $11 billion in customer assets

Binance paused bitcoin withdrawals for several hours Monday due to a ‘stuck transaction’
– Binance said Monday it was temporarily pausing bitcoin withdrawals “due to a stuck transaction causing a backlog.”
– Around 11:30 a.m. ET on Wall Street Binance said bitcoin withdrawals had resumed.

MicroStrategy CEO Saylor Says No Margin Call on Bitcoin Loan
– As long as the Silvergate loan remains collateralized with an LTV less than 50%, there is no margin call
– Bitcoin would need to fall to around $21,000 before a call would be triggered on its $205 million loan from a unit of Silvergate Bank

Jack Dorsey’s TBD Presents Bitcoin-Based Decentralized Web5
– TBD’s Web5 takes a different approach than Web3 on how to build a properly decentralized internet, with Bitcoin being the single blockchain used in the project

Edge Announces ‘Confidential’ Bitcoin Mastercard—But Mastercard Denies Involvement
– “Not a name, not a phone number, not an email address,” Edge co-founder and CEO Paul Puey told Decrypt in an interview. “Definitely not your actual address, nothing. You can create a virtual card in around 15 seconds inside of Edge.”
– daily spend limit of $1,000 and can be used with Apple Pay with Samsung and Google Pay coming later
– physical card coming later this month for $20

Jack Dorsey, Jay-Z’s Bitcoin Academy to teach financial literacy
– free classes will be offered in-person and online from June 22-Sept. 7
– exclusively available to residents of Brooklyn New York’s Marcy Houses complex

Bitcoin Bank Custodia Sues Federal Reserve, Demanding Decision On Master Account
– Custodia today sued the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City charging they have “unlawfully” delayed for 19 months acting on its application for a master account with the Federal Reserve

These are just some of the topics that will be up for discussion tonight. Free free to bring any topics of discussion for the group that you find interesting! We all want to learn this journey together.

See you tonight!

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