Transaction URL: https://blockchain.com/btc/tx/80589e7ad1194b4cf8bd6ccd660cfcaa7c97b151ed7edadf383cebfad7ad1ddc
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Yesterday marked the end of Blockworks’ Digital Asset Summit, where attendees seemed doggedly bullish on the reality of institutional crypto adoption — but somewhat vague on the particulars.
The Solana faithful showed real belief in stablecoins — the network’s co-founder Anatoly Yakovenko during our panel called them “the most disruptive thing that crypto’s built.” There was also real belief in spot SOL ETFs gaining the SEC’s approval as soon as CME futures — and the first SOL futures ETFs — began trading. But above all, I left with the impression that crypto can be…
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The Department of Treasury has lifted Sanctions on Tornado Cash, the Ethereum based smart contract mixer, following a series of legal defeats and administrative challenges.
“Based on the Administration’s review of the novel legal and policy issues raised by use of financial sanctions against financial and commercial activity occurring within evolving technology and legal environments, we have exercised our discretion to remove the economic sanctions against Tornado Cash as reflected in Treasury’s Monday filing in Van Loon v. Department of the Treasury,” the Treasury Department stated.
Quick Overview of the Tornado Cash Story
Tornado Cash was launched in 2019 as a decentralized…
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Strategy has successfully raised $711.2 million through an upsized offering of preferred stock primarily to fund further Bitcoin acquisitions. The company sold 8.5 million shares of its 10.00% Series A Perpetual Strife Preferred Stock at $85 each. Set to close on March 25 this transaction underscores robust investor confidence initially aimed to gather $500 million but was expanded following enthusiastic market reception.
Net proceeds after necessary deductions are pegged at $711.2 million earmarked for general corporate needs including Bitcoin purchase and working capital enhancements. The preferred shares offer a 10% annual dividend paid quarterly in cash. Should there be a missed dividend payment accrued dividends will compound increasing from 11% and rising each quarter to a maximum of 18% annually.
Strategy is deepening its investment in Bitcoin after converting its balance sheet to BTC in 2020 championing it as a pivotal digital asset. Alongside bolstering its Bitcoin reserves the firm is enhancing its suite of AI-driven analytics tools demonstrating a dual commitment to technological advancement and cryptocurrency advocacy.
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Bitcoin has multiple personalities, equal parts money, freedom, resistance and hope.
MicroStrategy chairman Michael Saylor sits below all of them as bitcoin’s id — its rawest instincts, personified.
Thursday marked the 25th anniversary of Saylor losing $6 billion in one day ($11 billion adjusted for inflation) as the dot-com bubble burst. That event was among the biggest single-day personal losses in human history until that point.
This is his comeback story.
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Saylor was not always the apex Bitcoin bull. He did, however, understand digital scarcity long before…
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A few weeks ago, we briefly touched on how civil asset forfeiture may apply to Bitcoin, a process in which the Government may seize citizen’s assets without accusing a person of a crime. With the US Government stating that civil asset forfeiture will form a key pillar in building its Strategic Bitcoin Reserve, the Fifth Amendment Integrity Restoration Act of 2023, also known as the FAIR Act, is arguably the most important Bill introduced in Congress today to protect Bitcoin holders from extensive Government overreach. Without it, many may see their bitcoin seized and forfeited on behalf of the Reserve with little to no recourse.
Civil asset forfeiture has long been argued to be in…
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