Metaplanet’s stock jumped 51% on December 17 after the company, known as the “Japanese MicroStrategy,” revealed a ¥4.5 billion ($30 million) initiative to acquire more Bitcoin. The funds will accelerate Metaplanet’s Bitcoin acquisition strategy, highlighting its commitment to digital assets. Japanese MicroStrategy Fuels Bitcoin Accumulation During a December 17 Board ... Read more
The U.S. Financial Accounting Standards Board (FASB) has officially established new fair value accounting standards regarding Bitcoin, according to the report. These in-force regulations postulate that companies should record their cryptocurrency holdings at their fair market value, updating this during each financial reporting period. This approach enables businesses to account ... Read more
In a shocking turn of events, an Uber driver impersonator in Scottsdale, Arizona, has been arrested for allegedly masterminding a sophisticated crypto heist, stealing a combined $300,000 from two unsuspecting passengers. This incident underlines the vulnerabilities of both digital and physical security in the cryptocurrency age. According to a Dec. ... Read more
Michael Saylor, the mastermind behind MicroStrategy’s Bitcoin strategy, hinted at another purchase over the weekend. In a December 15 post, he implied a new acquisition by questioning the absence of a “green dot” on the SaylorTracker chart, sparking speculation of Bitcoin purchases above six figures as per CoinGecko data. MicroStrategy’s ... Read more
Chainlink (LINK) seemed to make waves in the crypto market, which has had a phenomenal rally in the last week. It surged about 17% and pierced all critical resistance levels, therefore setting a strong upward trajectory. Given the big market action and the notable development, traders and investors have highlighted ... Read more
Bitcoin wallets holding less than 1 BTC are expected to grow by 9% in the near term as small-scale investors continue accumulating despite the asset surpassing $100,000. CryptoQuant contributor Axel Adler shared this outlook in a Dec. 14 X post, emphasizing the strong confidence among “shrimp” holders. Currently, 323,000 Bitcoin ... Read more
The crypto market has recently seen a significant uptick in whale activity, marked by massive $VIRTUAL buyouts. According to Lookonchain data, two new wallets, potentially controlled by the same whale, redeemed 10M $USDC tokens from Coinbase, using them to purchase 4.25M $VIRTUAL tokens. Such whale movements often signal growing institutional ... Read more
Crypto exchange Coinbase is facing a lawsuit for more than $1 billion from BiT Global Digital Limited, which accuses the platform of damaging the market for Wrapped Bitcoin (wBTC) following its decision to delist the token in November. Kneupper and Covey filed the lawsuit in the Northern District of California ... Read more
Allez Labs has introduced a bold proposal to revolutionize how Polygon’s stablecoin reserves are managed, potentially generating $70 million annually in yield. The pre-Polygon Improvement Proposal (PIP) outlines a strategy to turn the roughly $1.3 billion in stablecoins held in Polygon’s proof-of-stake (PoS) Portal bridge into active, yield-bearing assets. Currently, ... Read more
The Bank of England’s regulatory division, the Prudential Regulation Authority (PRA), has formally called on businesses to reveal their current and future crypto-asset exposures to increase financial stability and to help inform policy direction as cryptocurrencies become more important to the global financial system. In its December 12 statement, the ... Read more
