- Crunch
- Global
Japanese investment firm Metaplanet has significantly increased its Bitcoin portfolio through a lucrative options transaction with QCP Capital, a leading Singapore-based digital asset trading firm. The deal involved the sale of 223 put options, netting Metaplanet a substantial 23.97 BTC in premium revenue. This strategic move brings the firm’s total Bitcoin holdings to 530.72 BTC, valued at approximately $32.55 million as of October 3.
The transaction capitalizes on the current Bitcoin market volatility, allowing Metaplanet to generate income while maintaining a cash-secured position. With this latest acquisition, Metaplanet has solidified its commitment to enhancing its Bitcoin reserves, aligning with its financial strategy to bolster long-term exposure to the cryptocurrency.
This approach is part of a broader strategy to address economic challenges exacerbated by the weakening of Japan’s currency since May 2024. By continually increasing its Bitcoin investments, including a major purchase worth $6.94 million, Metaplanet is strengthening its financial foundation amidst growing interest from other Japanese investment managers in the crypto sector.
Ripple CEO Brad Garlinghouse has confidently committed to contesting the SEC’s appeal against a court ruling which affirmed that Ripple’s XRP token is not a security. This decision, initially made by New York District Court Judge Analisa Torres, marks a significant victory for Ripple, despite the SEC’s continued challenges. Garlinghouse criticized the SEC’s decision to appeal, highlighting the clarity of the original ruling which clearly supports the crypto community’s stance.
In an enduring commitment to legal clarity, Ripple’s leadership remains undeterred by the SEC’s latest legal move. “The law today recognizes XRP’s status as a non-security. This misguided appeal will not alter that fact,” Garlinghouse stated. The Ripple team, supported by Chief Legal Officer Stuart Alderoty, is prepared to defend this position throughout the appellate process, emphasizing the lawsuit’s lack of merit since its inception in 2020.
The legal proceedings are expected to extend until early 2026, with the Second Circuit Court not likely to issue a ruling before then. Despite this, Ripple’s legal team is ready to submit further briefs and engage in oral arguments as necessary, reinforcing their readiness to once again prove their case in court.
Robinhood is expanding its European offerings, allowing customers to transfer crypto in and out of its app.
Robinhood’s Johann Kerbrat told Blockworks that the company will continue to roll out new features. He added that right now Robinhood is limiting its marketing to a few countries over in the EU as it awaits its MiCA license.
Once Robinhood has that in hand, the company plans to scale all “across the EU.”
The reason for Robinhood’s EU focus is simple, Kerbrat explained.
“You have a lot more companies in the EU working on crypto than in the US. We have a bit more of a clear framework, and so we are able to launch the product…in a fast way, because we know how to…
Read more on Blockworks
Gurbir Grewal, who has served as the US Securities and Exchange Commission’s director of the division of enforcement since July 2021, will leave the agency this month.
The current deputy director of the division, Sanjay Wadhwa, will step in as acting director starting on Oct. 11, the SEC announced Wednesday.
“From recalibrating penalties and remedies to confronting emerging risks to holding issuers, insiders and gatekeepers accountable, I am incredibly proud of all that we’ve accomplished as a division during my tenure,” Grewal said in a statement. “I am grateful to Chair Gensler not just for the opportunity to lead the division, but also for his unwavering commitment to…
Read more on Blockworks
Rene Pickhardt recently kicked off a thread discussing the differences between two party and multiparty (more than two participants) payment channels as it relates to his research work around payment reliability on the Lightning Network. He voices a growing skepticism of the viability of that direction for development.
The high level idea of why channel factories improve the reliability of payments comes down to liquidity allocation. In a network of only two…
Read more on BitcoinMagazine
WHERE WE’RE SHOPPING: SLNT
If you’re like me (and you’ve been stacking Bitcoin relentlessly), you’ve probably looked for ways to improve your privacy.
I’ll admit, it’s a bit of a battle for me. As someone who had a public presence from writing their first article in Bitcoin back in 2013, I don’t have much of a choice – a lot of my personal information is out there, probably forever.
That said, little improvements go a long way (or so they say). At least, they make me feel better about the fact that I’m guarding basically all my wealth with no one to hold…
Read more on BitcoinMagazine