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FameEX Morning Crypto News Recap | December 1, 2023
2023-12-01 11:57:55
Microstrategy Increases Bitcoin Holdings to 174,530 BTC in Latest Acquisition
Microstrategy has increased its bitcoin holdings by acquiring an additional 16,130 bitcoins. This purchase brings the total number of bitcoins held by the software intelligence firm to 174,530, acquired at a cost of approximately $5.28 billion. Microstrategy's stock has demonstrated strong performance since it adopted its bitcoin strategy, outperforming major asset classes and indices.
FTX Estate Gets Court Approval to Sell $870M Worth of Grayscale and Bitwise Shares Amid Increased Claim Transfers The Delaware District’s U.S. Bankruptcy Court has approved FTX's estate to sell trust assets, including Grayscale and Bitwise holdings, allowing the crypto exchange to divest these investments. Additionally, FTX Trading Ltd.'s records are seeing a surge in claim transfers as creditors opt for immediate financial gains. Paxos Gains In-Principle Approval for Stablecoin Issuance and Crypto Services in Abu Dhabi Paxos, a blockchain and tokenization infrastructure provider, has secured preliminary approvals from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi. This development paves the way for Paxos to issue stablecoins tied to the U.S. dollar and launch crypto brokerage and custodial services within the Abu Dhabi Global Market (ADGM). Economist Peter Schiff Warns of Impending "Historic Crash" for US Dollar: "No Soft Landing, Only Crash and Burn" Economist Peter Schiff has issued a dire warning, stating that the U.S. dollar is on the brink of a historic crash, with no possibility of a soft landing. He anticipates a "crash & burn" scenario due to potential inflation, rising interest rates, and higher unemployment, asserting that the economy is weaker than the Federal Reserve believes, leading to increased budget deficits and inflation. Robert Kiyosaki, Author of Rich Dad Poor Dad, Advocates Investing in Bitcoin ETFs Renowned author Robert Kiyosaki, known for "Rich Dad Poor Dad," has endorsed the purchase of Bitcoin exchange-traded funds (ETFs). Expressing concern over the global economy's slowdown and the potential for a severe economic downturn, he cautioned investors to take action against the backdrop of increased money printing by the U.S. Treasury and Federal Reserve. Swiss Crypto Bank Seba Rebrands to Amina as Part of Global Expansion Swiss crypto bank Seba has rebranded as Amina as part of its global expansion efforts. The bank recently secured a license from the Hong Kong Securities and Futures Commission, enabling it to offer crypto trading services in Hong Kong. In 2022, Seba also obtained financial services permission from Abu Dhabi Global Market and established an office in Abu Dhabi, furthering its expansion strategy. Australian Tax Data Reveals Increasing Interest in Holding Crypto for Self-Managed Retirement Australians are turning to cryptocurrency as a retirement investment, with self-managed retirement funds increasing their allocations to the asset class by 400% in just four years. This growth rate surpasses that of traditional investments such as stocks and bonds, indicating a growing interest in using cryptocurrency to secure retirement funds. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
