Author: Max Bauer

MicroStrategy, the business intelligence company known for its aggressive Bitcoin acquisition strategy, announced today the purchase of an additional 18,300 Bitcoins for approximately $1.11 billion. This latest acquisition brings the company’s total Bitcoin holdings to a staggering 244,800 BTC, valued at an estimated $9.45 billion as of September 2024. Reuters reported the buy first. The company, led by Bitcoin advocate Michael Saylor, has consistently championed Bitcoin as a superior store of value and a hedge against inflation. Michael Saylor, the founder of the company, also made a statement and said: MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408…

A new bill aimed at improving the regulatory framework for digital assets has been introduced in the U.S. House of Representatives. The “BRIDGE Digital Assets Act,” proposed by Congressman John Rose (R-TN), seeks to establish a joint advisory committee on digital assets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), according to Fox News reporter Eleanor Terrett. The proposed advisory committee would consist of 20 private-sector participants from various sectors of the cryptocurrency industry. Its purpose is to provide advice and guidance to both the SEC and CFTC on developing rules, regulations, and…

CCP Games today announced the official title and additional details for their much-anticipated blockchain project, previously known as Project Awakening. The new game, EVE Frontier, is a space survival game set within the expansive EVE Online universe. Frontier promises to be a single-shard MMO, creating a vast sandbox where players coexist and strive to survive in a shared, dynamic environment. CCP Games has plans for a closed playtest in the near future, with interested players able to sign up for participation on the Frontier website. EVE Frontier transports players to a distant future where they awaken from stasis amidst the…

Hong Kong is reportedly mulling over plans to expand the regulatory oversight of over-the-counter (OTC) virtual asset trading services by involving the Securities and Futures Commission (SFC) alongside the Hong Kong Customs and Excise Department (C&ED), according to the South China Morning Post. Sources familiar with the matter revealed that the SFC has been actively seeking industry opinions on a potential new licensing system for cryptocurrency OTC services. The envisioned system would entail collaborative supervision of relevant companies by both the SFC and C&ED. Previously, the proposed OTC supervision and licensing system, as outlined in a February 2024 proposal, fell…

Binance, the leading global cryptocurrency exchange, has announced its latest Launchpool project, Hamster Kombat (HMSTR). This project marks the 58th addition to Binance Launchpool and is the latest in a series of TON-related tokens listed by Binance, following Notcoin, TON, and DOGS. Hamster Kombat is a cryptocurrency game built on the Telegram mini-app platform. The project has garnered attention for its impressive user base, which reportedly exceeded 300 million in July, although this number may include a significant number of bots. Notably, Hamster Kombat has also rejected all venture capital investment requests to date. The HMSTR token is currently unreleased,…

Crypto market analysis agency Santiment has reported a significant decrease in whale trading activity since mid-August. Bitcoin transfers exceeding $100,000 have dropped by 33.6%, and Ethereum transfers above the same threshold have fallen by a substantial 72.5% since their peak in March/April. However, Santiment emphasizes that this decline in whale activity isn’t necessarily a bearish indicator. Whales are known to remain active during both bull and bear markets. This current trend suggests that in times of extreme market sentiment, whether greed or fear, large key stakeholders tend to adopt a wait-and-see approach before making their next move. Since Bitcoin reached…

The Securities and Exchange Commission (SEC) announced today that eToro USA LLC has agreed to a $1.5 million settlement over charges related to operating an unregistered broker and clearing agency. These charges stem from eToro’s platform facilitating the buying and selling of certain crypto assets categorized as securities. Going forward, eToro will limit its crypto trading offerings to Bitcoin, Bitcoin Cash, and Ether, complying with SEC regulations. The company will provide its customers with a 180-day window to sell off any other crypto assets on its platform. The SEC’s order found that eToro had been functioning as a broker and…

crypto asset manager Grayscale is taking the first step towards launching an XRP exchange-traded fund (ETF). The company announced on Thursday the launch of the U.S.’s first XRP trust, a “closed-end” fund offering accredited investors direct exposure to XRP, the native token of the XRP Ledger blockchain. News of the development was first reported by Fox Business and Eleanor Terrett. While a trust and an ETF are distinct investment products, Grayscale’s XRP trust could potentially evolve into an ETF with the necessary regulatory approvals. This path has been previously demonstrated with Grayscale’s bitcoin and ether trusts, which successfully transitioned into…

Robinhood is set to make significant strides in the cryptocurrency space, bolstering its crypto team, launching crypto trading services in the European Union, and acquiring the cryptocurrency exchange Bitstamp for a hefty sum of $200 million. According to a Wednesday report from Bernstein analysts, these strategic moves are expected to propel Robinhood’s operating income to an estimated $900 million in 2024, potentially driving its market value to a range of $19 billion to $23 billion by 2025. Analysts further anticipate that Robinhood’s revenue could reach $3.4 billion by 2025, supported by favorable factors such as demographic trends. Notably, about 60%…

Following the release of the August US CPI report, Nick Timiraos, dubbed the “Federal Reserve mouthpiece,” indicated that the Federal Reserve is likely to commence a gradual interest rate cut at its upcoming meeting next week. The inflation rate dropped to a three-year low of 2.5% in August, marking a fifth consecutive month of decline. While this cooling trend supports the case for an interest rate cut, a slightly higher-than-expected core inflation rate of 3.2% might lead to a more moderate 25 basis point cut instead of a larger 50 basis point cut. The news prompted mixed reactions in the…