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Here’s a brief update on today’s cryptocurrency news:

Bitcoin’s Rally: Bitcoin’s price saw a 3% uptick, climbing to just shy of $30,000. This movement is in response to a plunge in global long-dated government bond yields, triggered by China’s weaker than anticipated trade numbers for July1.
Market Capitalization: The global cryptocurrency market capitalization continues to drop, down 5.4% today to $2.23 trillion. The total cryptocurrency trading volume in the past day is $107 billion. Notably, not a single coin among the top 100 coins per market cap has seen its price increase today2.
Binance Settlement Proposal: At the forefront of today’s crypto news is the substantial settlement proposal from the U.S. Department of Justice to Binance. The crypto exchange faces a hefty $4 billion fine to resolve investigations involving allegations of money laundering, bank fraud, and sanctions violations.