Michael Saylor Continues to Stack Up Bitcoins
This week’s crypto markets have seen minimal activity, with prices remaining at a standstill. However, there have been significant developments in the blockchain gaming sector, unnoticed by many.
One of the most significant headlines in the crypto news today is Michael Saylor’s continued Bitcoin purchasing spree. The corporate Bitcoin whale has been acquiring more BTC, taking advantage of what some believe are irreplaceable prices. Critics are debating whether this corporate cryptocurrency exposure will make prudent long-term fiscal sense, given the uncertainty in the market. However, Saylor remains firm in his conviction, touting Bitcoin’s reliable scarcity and significant appreciation potential compared to depreciating dollars. With the asset down by approximately 40% from the previous all-time high, Saylor seems determined to take advantage of what some will consider irresistible bargains in the future. Meanwhile, MSTR shares continue to hit new highs amid his purchasing spree.
A $3M Fee Refund
Last week, a clumsy crypto user accidentally paid an enormous transaction fee, making history as one of the most substantial fees ever paid. The recipient mining pool has pledged to return the astronomical amount after verifying the user’s identity within a certain time frame. However, this monumental mix-up has highlighted the high-stakes dynamism of the crypto market, where fortunes can change in an instant.
Word of the Day: Immutable
The word of the day is “immutable,” a key feature of blockchains. It refers to the tamperproof records of transactions that cannot be altered after being confirmed and added to the blockchain ledger.
Illuvium Scores a Big Partner
Illuvium, a blockchain gaming platform, has secured a partnership with top esports group Team Liquid. This collaboration aims to test Illuvium’s battle features and esports viability, with plans to unlock a $100,000 tournament prize pool alongside NFT gear for Liquid fans. This collaboration could be a key step toward mainstream adoption as competitive gaming and the crypto play-to-earn model converge.
Crypto Bank Goes Global
Swiss cryptocurrency bank SEBA has rebranded as Amina Bank to support international expansion. The bank’s early success abroad has emboldened its decision to venture into global markets. However, managing regulatory complexity across differing jurisdictions presents a significant challenge.
Binance Calms Institutional Jitters
Leading crypto exchange Binance is offering a new collateral custody pilot to ease counterparty risks for institutional crypto traders. The initiative lets partners park assets with vetted banks instead of the exchange itself, modeled to match Wall Street standards.
Multi-Million Crypto Scammer Jailed
A complex cryptocurrency fraud ring has been exposed, leading to the sentencing of the operation’s criminal mastermind to over 5 years behind bars. The fraudulent scheme relied on stolen identities and false documents to illegally obtain millions in crypto.
In Conclusion
That wraps up today’s top crypto and blockchain news. Stay tuned for more updates on the rapidly evolving world of cryptocurrency and blockchain. Make sure to subscribe to our newsletter to receive the latest crypto stories straight to your inbox.
I have been writing about crypto for over two years. I have a vast amount of experience in the industry and my work has been featured on some of the biggest publications in the space.
