MSTR MicroStrategy Inc

Toncoin soars after Telegram’s IPO announcement

Toncoin (COIN:TONCOINUSD), the cryptocurrency of the TON Network, saw its price surge over 70% in just two days following an announcement by Pavel Durov, founder of Telegram, about plans for an Initial Public Offering (IPO) for the app. Despite the separation of the entities in 2020 due to legal challenges with the SEC, Telegram continues to support TON as its blockchain of choice for Web3 infrastructure. This news boosted TON’s market value from $9.5 billion to $15.5 billion, approaching its all-time high.

Coinbase raises $1 billion with convertible bonds, avoiding share dilution

Coinbase Global (NASDAQ:COIN) plans to capitalize on the crypto market’s resurgence by raising $1 billion through convertible bonds, a strategy that preserves its share value by avoiding the issuance of new shares. Inspired by Michael Saylor’s MicroStrategy (NASDAQ:MSTR) approach, the exchange opted for a private offering of convertible senior notes, allowing conversion into shares or cash by 2030, an alternative to selling shares that could dilute current shareholders’ participation.

Bitcoin halving: impacts and expectations for 2024

On Wednesday morning, Bitcoin (COIN:BTCUSD) briefly hit $73,406.1 before retreating to $72,556.50 at the time of writing. Ethereum (COIN:ETHUSD) climbed to $4,054.47 before falling back to $3,970.60.

The scheduled Bitcoin halving event in April 2024 will cut the block rewards for miners in half, from 6.25 BTC to 3.125 BTC. This pre-programmed occurrence in the Bitcoin network generates a lot of uncertainty, including potential bankruptcies of miners, changes in hash rate, and fluctuations in Bitcoin’s price.

“We are almost 1 month away from the halving, and along with it, I believe a market correction may appear. Historically during the halving, we have a quick, yet not so subtle correction. Don’t be alarmed if BTC drops approximately 30% close to the halving before starting to rise again,” commented analyst Fernando Pereira from Bitget.

The introduction of Bitcoin ETFs in the spot market, which pushed Bitcoin’s price to new highs, adds a new layer of complexity to the upcoming halving. Experts debate whether the halving will accelerate institutional interest in Bitcoin, considering its unique monetary policy and its effect on supply. While some see the halving as a transformative event, others believe its impacts may be mitigated by factors such as the adoption of layer 2 technologies and the growth of Bitcoin ETFs.

BlackRock’s Bitcoin ETF reaches $15 billion in assets

The BlackRock ETF (NASDAQ:IBIT) saw its assets under management soar to $15 billion on March 12, after receiving record inflows since its launch two months earlier. This growth reflects a significant increase in Bitcoin asset management, with IBIT leading with over 212,000 bitcoins. In contrast, the Grayscale ETF (AMEX:GBTC) experienced a 38% drop in its assets. This movement highlights a strong investor preference for new spot Bitcoin ETFs, totaling over 422,000 bitcoins ($31 billion) in assets, while global Bitcoin investment vehicle management surpassed 1 million bitcoins ($78 billion).

OKX gets green light from Singapore for payment operations

OKX, a subsidiary of the global exchange in Singapore, received preliminary approval from the Monetary Authority of Singapore (MAS) to act as a payment institution, expanding its capabilities to include cryptocurrency and international remittance services. This Major Payment Institution (MPI) license represents a strategic advance for OKX in a key market. The approval emphasizes OKX’s commitment to regulatory compliance and signals its support for Singapore’s regulatory environment, positioning it for future expansion in local banking services and integrations.

Nigeria pressures Binance for user data and detains executives

Nigeria is requesting data from Binance on its top 100 Nigerian users and a full transaction record for the past six months, according to the Financial Times. This demand comes as two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, remain detained in Nigeria for three weeks, staying at a National Security Agency facility following a government invitation. The detention is linked to a dispute over $26 billion in untraceable funds, with the Nigerian government considering Binance a barrier to efforts to stabilize the local currency, in addition to pending tax issues. Binance is cooperating with authorities to resolve the situation.

Goldman Sachs and partners complete tests on Canton blockchain network

Goldman Sachs (NYSE:GS), BNY Mellon (NYSE:BK), Cboe Global Markets, and other entities have completed tests on the Canton Network of Digital Asset Holdings, a pioneering project that interconnects various financial sector institutions. During the pilot phase, over 350 simulated transactions involving tokenized assets and other financial operations were conducted, aiming to explore the benefits of blockchain in risk reduction and process optimization.

Sei Labs reinvents Ethereum with parallel processing technology

Sei Labs, founded by former Robinhood (NASDAQ:HOOD) and Coatue professionals, introduced The Parallel Stack, a free project aimed at accelerating and reducing the cost of Ethereum usage for developers. This effort stands out for applying parallel processing to enhance the efficiency of Ethereum blockchain transactions, promising to transform the network’s performance and scalability. Additionally, the startup plans to expand its innovations with Sei V2, a parallelized EVM that processes multiple transactions simultaneously, making the technology more accessible to global developers.

Strategic partnership between Astroport and Osmosis revolutionizes liquidity in Cosmos

Astroport, an innovative decentralized exchange from Cosmos, has teamed up with Osmosis, the leading DEX by volume in this ecosystem, to launch passive concentrated liquidity pools (PCL). This collaboration between two of Cosmos’s most dynamic platforms aims to enhance the trading experience and optimize capital usage. The PCL pools will offer efficient and automated liquidity management, minimizing losses and maximizing profits without constant intervention. The integration benefits both protocols, expanding reach and liquidity, while providing complementary pool options to cater to various investor profiles, from professionals to casual users seeking simplicity. This advance promises to significantly increase trading volume and efficiency in the Cosmos ecosystem (COIN:ATOMUSD).

Innovation and efficiency in PancakeSwap V4 DEX

PancakeSwap, a leading decentralized exchange platform, announced the launch of its fourth version, promising to revolutionize on-chain swaps with new features aimed at reducing costs and improving efficiency for users. According to Chef Mochi, the lead developer, the update will address critical issues of current automated market makers, such as rigidity in price formation, high gas fees, impermanent losses, and a lack of advanced execution features. With innovative features like hooks for custom add-ons, custom pool types, pool merging for cost savings, and flash accounting for gas fee reduction, V4 aims to optimize the trading experience. Initially available on Ethereum and BNB Chain networks, the new version aims to solidify PancakeSwap’s market position, maintaining its relevance with over $2.4 billion in assets under management.

TRON and AWS collaborate to simplify node deployment

TRON DAO announced a significant partnership with Amazon Web Services (AWS) (NASDAQ:AMZN), making it easier to quickly and effectively launch a TRON Full Node on AWS. This collaboration lowers technical barriers, allowing both users and developers to contribute to a stronger, more decentralized blockchain ecosystem. Using the latest version of TRON, GreatVoyage-v4.7.3(Chilon), ensures access to cutting-edge features and security. The integration highlights TRON’s commitment to advancing the decentralized internet, providing developers with the necessary tools to create innovative DApps with AWS’s robust infrastructure.

EU sets guidelines for multi-currency stablecoins under MiCA regulation

The European Banking Authority (EBA) unveiled new guidelines for stablecoins linked to multiple currencies, part of the innovative Markets in Crypto-Assets (MiCA) regulation of the European Union. In collaboration with the European Securities and Markets Authority (ESMA), the EBA developed rules within MiCA, including a recent set of Regulatory Technical Standards (RTS) focused on asset reference tokens (ARTs), differentiating from single-currency-linked stablecoins. Set to be implemented in phases, MiCA will bring new regulatory obligations for stablecoin issuers starting in the third quarter of 2024.

Indonesia sets rules for crypto and financial innovation

The Financial Services Authority of Indonesia (OJK) established new regulations to foster technological innovation in the financial sector, applicable to cryptocurrency starting in January 2025. These guidelines guide institutions like banks and insurers in the safe adoption of new technologies, including the establishment of sandboxes and consumer protection. The measure paves the way for OJK’s regulatory supervision of cryptography, in collaboration with local and international regulators, to strengthen crypto policy.

Thailand exempts crypto gains from double taxation

On Tuesday, the Thai government approved a measure that eliminates double taxation on cryptocurrency profits, removing the need to declare capital gains from investment tokens on income tax. This decision, aimed at stimulating financing through digital tokens, follows other recent tax incentives in the country, including a VAT exemption on crypto profits until 2023 and tax benefits for token-issuing companies, applicable from January 1, 2024.

Spirit Blockchain and Vesta Equity form strategic partnership in real estate tokenization

Spirit Blockchain Capital Inc. and Vesta Equity Inc. announced a strategic partnership to innovate in the real estate market through Spirit’s investment in Vesta. This collaboration aims to expand real estate investment options and introduce new opportunities through residential equity tokenization, allowing homeowners to unlock capital without incurring debt and investors to acquire fractions of properties. The partnership promises to transform the real estate sector, combining the expertise of both companies in blockchain and digital investments.

Cleartoken raises $10 million for crypto clearing services

Cleartoken, an innovative crypto clearinghouse, announced on Wednesday that it raised over $10 million in an initial investment round from prominent names like Nomura’s Laser Digital, as well as Flow Traders, GSR, LMAX Digital, and Zodia Custody. The company focuses on providing an efficient clearing and settlement platform for the digital asset market, promising security and reduced counterparty risks. Cleartoken, seeking full regulation in the UK, plans to introduce settlement and clearing services in the next 18 months, aiming to position the UK as a global leader in this emerging sector.

SEC orders First Trust and SkyBridge to withdraw ETF application

The SEC instructed First Trust Advisors and SkyBridge Capital, led by former White House Communications Director Anthony Scaramucci, to withdraw their Bitcoin ETF application, due to a lack of response to previous agency communications. The original application, made in March 2021 and rejected in January 2022, was not resubmitted after the SEC approved other Bitcoin ETFs.

Judge approves Dentons’ hiring by Terraform Labs in litigation with the SEC

A US judge authorized Terraform Labs to hire the renowned law firm Dentons for its defense in a lawsuit filed by the SEC and co-founder Do Kwon, despite opposition from creditors and regulatory bodies. The controversy arose after Terraform directed $166 million in legal fees, limiting the availability of funds for creditors. However, Dentons agreed to return $48 million to Terraform and accept greater future judicial oversight, following the company’s bankruptcy in January 2024, triggered by the collapse of the Terra platform and its LUNA tokens in May 2022.

MakerDAO initiates Endgame phase with new tokens in 2024

MakerDAO, the entity behind the Dai stablecoin, plans to introduce the initial phase of the Endgame in the summer of 2024, revealed founder Rune Christensen. This launch will introduce two new tokens, NewStable and NewGovToken, while maintaining the current operations of Dai and the governance token. The update will allow users to migrate to the new tokens, which will bring innovative features like staking and digital farming. The Endgame transition will begin with a new brand identity, followed by the launch of the new tokens, targeting the diversification of use between crypto and widespread adoption.

Yuga Labs seeks sanctions against Ryder Ripps for destroying NFT keys

Yuga Labs, creator of the Bored Ape Yacht Club NFTs, requested a US court to sanction Ryder Ripps for deliberately erasing the private keys of his RR/BAYC NFTs, alleging obstruction of justice. Ripps responded, denying the accusations and stating he complied with the court order except for lost access to wallets. The dispute intensifies after court decisions favorable to Yuga Labs, demanding the destruction or delivery of infringing NFTs.