Market Archives

Michael Saylor, MicroStrategy’s Chairman and a staunch Bitcoin advocate, plans to pitch the idea of Bitcoin investment to Microsoft’s board of directors. Saylor has been allotted just three minutes to present his case, arguing that integrating Bitcoin into Microsoft's portfolio could stabilize its stock and mitigate risks. The initiative stems from the National Center for Public Policy Research (NCPPR), which praised MicroStrategy’s Bitcoin strategy, noting its stock has outperformed Microsoft’s this year. Saylor previously sought a private discussion with Microsoft CEO Satya Nadella, but his request was declined, prompting him to address the board directly. Saylor contends that tech giants like Microsoft, Apple, and Google are missing opportunities to enhance shareholder value by not diversifying into Bitcoin. He believes allocating a portion of their enterprise value to Bitcoin could improve stock stability by anchoring it to tangible assets. Microsoft’s board has recommended rejecting the proposal, citing its existing investment evaluation process. However, a vote on the initiative is scheduled for December 10, requiring Microsoft to justify its stance publicly. Saylor emphasizes that 98.5% of Microsoft’s valuation is tied to earnings, with just 1.5% linked to physical assets. Incorporating Bitcoin, he argues, would provide a stronger financial foundation and boost shareholder confidence. While the proposal faces resistance, it has ignited discussions about corporate cash management. If successful, Saylor’s pitch could influence other major corporations to consider Bitcoin, potentially transforming corporate investment strategies.

Michael Saylor pitches Microsoft’s board on Bitcoin

5 hours ago 1 min read

Michael Saylor, MicroStrategy’s Chairman and a staunch Bitcoin advocate, plans to pitch the idea of Bitcoin investment to Microsoft’s board of directors. Saylor has been allotted just three minutes to present his case, arguing that integrating Bitcoin into Microsoft’s portfolio could stabilize its stock and mitigate risks. The initiative stems from the National Center for Public Policy Research (NCPPR), which praised MicroStrategy’s Bitcoin strategy, noting its stock has outperformed Microsoft’s

US lawmakers urge the Treasury to intensify efforts against Tornado Cash

November 19, 2024 1 min read

U.S. lawmakers are urging the Treasury Department to prioritize investigations into Tornado Cash, a decentralized crypto mixer linked to laundering billions in illicit funds. Led by Rep. Sean Casten, a group of Democratic lawmakers highlighted the platform’s continued role in illegal activities despite being sanctioned in 2022 by the Office of Foreign Assets Control (OFAC). Tornado Cash’s co-founder Roman Storm has come under scrutiny for allegedly using laundered funds to

Plaintiffs drop their appeal in the Dogecoin lawsuit against Elon Musk

November 19, 2024 1 min read

The legal battle between Dogecoin investors and Elon Musk, along with his company Tesla, has come to an end as the investors withdrew their appeal. The case, which originally sought $258 billion in damages, accused Musk of manipulating Dogecoin’s price through tweets, public appearances, and statements like calling it the “future currency of Earth.” In August, U.S. District Judge Alvin Hellerstein dismissed the lawsuit, stating that Musk’s comments, including his

Paju city officials in South Korea threaten to seize and sell crypto assets of tax debtors

November 19, 2024 1 min read

Authorities in Paju, South Korea, have issued a stern warning to tax defaulters, threatening to seize and sell their cryptocurrency holdings if debts are not paid by the end of November. Targeting 17 individuals who collectively owe 124 million Korean won (approximately $88,600), the city aims to combat the growing trend of using cryptocurrencies to evade taxes. Officials emphasized that digital assets would not shield individuals from financial obligations, with

Alameda Research sues Waves founder Aleksandr Ivanov, seeking $90 million in a bid to recover assets lost

November 13, 2024 3 mins read

Alameda Research, a trading firm linked to the now-defunct FTX cryptocurrency exchange, has initiated legal action against Aleksandr Ivanov, the founder of the Waves blockchain platform, in a bid to recover around $90 million. This lawsuit is part of Alameda’s larger effort to reclaim assets and repay creditors affected by FTX’s downfall in 2022. The complaint, filed recently, accuses Ivanov and his companies, Numeris Ltd. and DLTech Ltd., of fraudulent

FTX intensifies its recovery efforts with 20 new lawsuits

November 12, 2024 1 min read

FTX is ramping up its legal battle by filing over 20 new lawsuits to recover assets lost to political donations, fraudulent investments, and market manipulation. These lawsuits target a range of individuals and companies, including notable figures like former White House Communications Director Anthony Scaramucci and the creators of the video game Storybook Brawl. Since its bankruptcy filing in November 2022, FTX’s administrators have launched a total of 51 legal

A Chinese official received a life sentence for espionage after selling state secrets to pay off crypto debts

November 11, 2024 1 min read

Wang Moumou, a Chinese official, has been sentenced to life in prison for espionage after he sold state secrets to British intelligence. His financial troubles, primarily due to unsuccessful investments in cryptocurrency, pushed him to commit this crime, for which he received over a million yuan in crypto payments. The National Security Ministry of China has condemned Wang’s actions but has chosen not to implicate the cryptocurrency community in his

Alchemy Pay has made strides in expanding its operations in the United States by securing four new money transmitter licenses (MTLs)

Crypto payment gateway Alchemy Pay increases its US compliance with four additional licenses

November 8, 2024 1 min read

Alchemy Pay, a cryptocurrency payment gateway, has made significant strides in expanding its operations in the United States by securing four new money transmitter licenses (MTLs) in Wyoming, Oregon, Oklahoma, and Minnesota as of November 8th. This brings the total number of licenses held by Alchemy Pay in the U.S. to eight, following earlier approvals in states like Arkansas, Iowa, New Hampshire, and New Mexico. These licenses enable Alchemy Pay

Binance accused of charging a high amount of fees for listings

November 4, 2024 1 min read

Recently, the CEO of Moonrock Capital stirred up a conversation on Twitter by accusing Binance of imposing hefty fees for project listings. This sparked a lively debate among key figures in the cryptocurrency community, who shared a range of perspectives on the implications for decentralized projects on centralized platforms like Binance and Coinbase. In response to these claims, Yi He, Binance’s co-founder and chief customer service officer, took to her

Singapore’s central bank unveils new frameworks to promote tokenization

November 4, 2024 1 min read

Singapore is making strides in the financial sector by promoting the use of tokenization, which involves converting assets into digital tokens. The Monetary Authority of Singapore (MAS) has introduced new frameworks designed to encourage financial institutions to adopt tokenized assets, particularly in areas like fixed income, foreign exchange, and asset management. To facilitate this shift, MAS has rolled out two important frameworks that aim to enhance liquidity, build the necessary

Coinbase executives face accusations of downplaying regulatory dangers to shareholders

Coinbase uncovers FDIC letters urging banks to avoid crypto services

November 3, 2024 1 min read

Coinbase has recently brought to light that the U.S. Federal Deposit Insurance Corporation (FDIC) has been advising banks to avoid offering services related to cryptocurrency. Through a Freedom of Information Act (FOIA) request, Coinbase uncovered over 20 letters from the FDIC, dating back to March 2022, which express concerns about consumer protection, financial stability, and the security of institutions involved with crypto. This has raised alarms among crypto supporters, who

VanEck partners with Kiln to offer institutional investors easy access to Solana staking

November 1, 2024 1 min read

VanEck, a prominent asset management firm, is enhancing its investment approach to Solana by teaming up with Kiln, a platform that specializes in digital asset rewards. This collaboration aims to simplify the staking process for institutional investors, allowing them to enjoy the benefits of Solana staking without the hassle of managing technical details or handling SOL tokens directly. By integrating staking solutions into its investment offerings, such as exchange-traded notes