FameEX Morning Crypto News Recap | March 20, 2024

World's Largest Pension Fund Investigates Bitcoin Diversification Possibilities

Japan's Government Pension Investment Fund (GPIF), the largest of its kind globally, is exploring the inclusion of Bitcoin to diversify its investments. In response to shifting market dynamics, the GPIF has embarked on a five-year investigative plan to discover innovative diversification methods, with a special emphasis on sustainability and enhancing risk management practices in its investment strategies.

Bitcoin Mining Entity Bit Digital Reports Revenue Surge of Almost 40%

Bit Digital, a Bitcoin mining firm listed on Nasdaq, disclosed a 39% rise in 2023 earnings, reaching $44.9 million over the prior year. Moreover, its foray into artificial intelligence by February 2024 has already yielded $4 million in revenue, illustrating a notable advancement in the company's diversification strategy.

MicroStrategy Secures $604 Million from Selling Notes to Acquire 9,000 Bitcoins

Former CEO of MicroStrategy, Michael Saylor, revealed on X that the company successfully concluded its planned offering of 0.875% convertible senior notes maturing in 2031, raising $603.75 million. Saylor also disclosed the acquisition of 9,245 more Bitcoins, financed through the sale of these notes and additional cash reserves, significantly increasing the firm's investment in Bitcoin.

UK Authority to Enhance Safeguards Against Misuse in the Cryptocurrency Market

The UK's FCA will boost its detection and pursuit of cryptocurrency market abuse in the next year. Aiming for fairness, it plans to implement a fair regime and enhance analytics with network analysis and cross-asset class visualizations to combat market misconduct effectively in the crypto sector.

Tether Treasury Releases 1 Billion USDT Tokens

Tether Treasury generated 1 billion USDT, with CEO Paolo Ardoino revealing that the Tron network replenished it via an authorized but unissued transaction. This amount will be utilized as inventory for forthcoming issuance requests and chain swaps, ensuring smooth operations within the cryptocurrency ecosystem.

European Parliament Endorses Anti-Money Laundering Legislation

The European Parliament's legislative committees approved three texts in an anti-money laundering initiative, covering cryptocurrencies. The agreement requires crypto service providers to follow customer verification and monitor cross-border transfers, including those with self-hosted wallets. This intensifies regulatory oversight to effectively combat financial crimes.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​