MicroStrategy Is Adding Millions More Bitcoin to Its Stockpile 💰
In today's edition: 💱 Upbit resumes Aptos trading, 📉 Bitcoin and altcoins are down, 🤔 a possible fungible token protocol for Bitcoin, and more.
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What’s Poppin’?
by Brandy Betz, James Rubin, and Samyuktha Sriram
Bitcoin Ordinals Creator Proposes ‘Worse-Is-Better’ Token Protocol Runes
Casey Rodarmor suggested a UTXO-based fungible Bitcoin token protocol that would be a “simpler” alternative to complex existing standards like BRC-20.
MicroStrategy Buys 5,445 More Bitcoin for $147.3M
The software company now owns 158,245 bitcoins purchased for around $4.68 billion over the last three years.
South Korean Crypto Exchange Upbit Resumes Aptos Trading After Pause Linked to ‘Abnormal Deposit Attempt’
The unexpected suspension happened after Upbit’s authentication mislabeled scam tokens as legitimate Aptos tokens. APT price jumps 5% on Monday.
Bitcoin, Altcoins Dip as Investors Mull Higher Interest Rates
The prospect of higher interest rates for an extended period has unsettled crypto and other risk-on asset markets. A U.S. central bank governor on Monday reiterated the Fed’s commitment to base its decisions on inflation data.
On the Pod…
Bitcoin Ordinals have exploded in popularity since their launch by developer Casey Rodarmor in January, changing the NFT game with millions of inscriptions to date. But what comes next for Bitcoin-based digital artifacts? Danny Yang and Bill Tai, cofounders of Metagood and creators of NFT collection OnChainMonkey, discuss why they will move OnChainMonkey from Ethereum to Bitcoin, Rodarmor’s proposal to change the Ordinals inscription numbering system, and why they believe more creators should consider moving to Bitcoin.
Daily Bits…✍️✍️✍️
🖥️ Cryptocurrency exchange HTX was hacked, resulting in a loss of 5,000 ETH, or roughly $7.9 million, according to Justin Sun.
✅ Coinbase registered with the Bank of Spain as part of its continued plans for global expansion.
🪙 The digital euro is at least two years away, according to the European Central Bank’s president.
🌡️ Creditors impacted by Celsius’ bankruptcy voted on a plan to distribute $2 billion worth of bitcoin and ether to creditors.
💱 Indian crypto exchange Mudrex has registered to operate in Italy.
💴 Binance is seeking to launch stablecoins in Japan denominated in dollar, euro, and yen.
🫸 Bitwise filed an amendment to its Bitcoin spot ETF application, pushing back against the SEC.
⚖️ Thevamanogari Manivel was sentenced after pleading guilty to mishandling over $10 million accidentally transferred to her by Crypto.com in 2021.
🤖 Amazon is investing up to $4 billion in A.I. startup Anthropic.
What Do You Meme?
Recommended Reads
CoinDesk’s Jesse Hamilton spoke to experts about whether a government shutdown will impact the courts and the SEC in their crypto efforts.
Bloomberg’s Emily Nicolle discusses Huobi’s HTX rebrand, which rings similar to FTX in more ways than just its name.
WSJ’s Caitlin Ostroff dove deep into Sam Bankman-Fried’s fall from grace in The Journal podcast.
📈 Your Market Update 📉
Bitcoin, Altcoins Dip as Investors Mull Higher Interest Rates
Crypto markets inched downward on Monday as investors continued to fret over the prospect of long-term, elevated interest rates.
BTC is down 0.27%, trading at $26,245
ETH is down 0.06%, trading at $1,586
BTC dominance: 49.9%
Crypto market cap: $1.05T
*All data as of today, 7:15 am ET
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