\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4 5 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4 5 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

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ADVERTISEMENT
\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

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\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

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ADVERTISEMENT
\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

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\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

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\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

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\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

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By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

The new rules would limit retail mutual funds to a 15% allocation in crypto investments. Funds for institutional and high-net-worth investors would have no cap but must diversify to manage risks. Fund managers will need to follow strict guidelines when temporarily holding digital assets like Bitcoin or Ethereum. These assets can only be held for five business days for trading purposes.<\/p>\n\n\n\n

The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The proposal follows the rising global demand for Bitcoin and Ethereum ETFs, which launched in the U.S. this year. The SEC noted that while Thai investors could access these ETFs abroad, local rules have lagged. The current framework for mutual funds, introduced in 2015, needs to be updated.<\/p>\n\n\n\n

The new rules would limit retail mutual funds to a 15% allocation in crypto investments. Funds for institutional and high-net-worth investors would have no cap but must diversify to manage risks. Fund managers will need to follow strict guidelines when temporarily holding digital assets like Bitcoin or Ethereum. These assets can only be held for five business days for trading purposes.<\/p>\n\n\n\n

The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Growing Demand For Bitcoin ETFs<\/h2>\n\n\n\n

The proposal follows the rising global demand for Bitcoin and Ethereum ETFs, which launched in the U.S. this year. The SEC noted that while Thai investors could access these ETFs abroad, local rules have lagged. The current framework for mutual funds, introduced in 2015, needs to be updated.<\/p>\n\n\n\n

The new rules would limit retail mutual funds to a 15% allocation in crypto investments. Funds for institutional and high-net-worth investors would have no cap but must diversify to manage risks. Fund managers will need to follow strict guidelines when temporarily holding digital assets like Bitcoin or Ethereum. These assets can only be held for five business days for trading purposes.<\/p>\n\n\n\n

The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

Growing Demand For Bitcoin ETFs<\/h2>\n\n\n\n

The proposal follows the rising global demand for Bitcoin and Ethereum ETFs, which launched in the U.S. this year. The SEC noted that while Thai investors could access these ETFs abroad, local rules have lagged. The current framework for mutual funds, introduced in 2015, needs to be updated.<\/p>\n\n\n\n

The new rules would limit retail mutual funds to a 15% allocation in crypto investments. Funds for institutional and high-net-worth investors would have no cap but must diversify to manage risks. Fund managers will need to follow strict guidelines when temporarily holding digital assets like Bitcoin or Ethereum. These assets can only be held for five business days for trading purposes.<\/p>\n\n\n\n

The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The SEC plans to let securities firms and asset managers offer services to large investors. This includes allowing investors to diversify their portfolios into crypto products like exchange-traded funds (ETFs). The changes aim to align with international developments and offer more options for expert-managed investments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

Growing Demand For Bitcoin ETFs<\/h2>\n\n\n\n

The proposal follows the rising global demand for Bitcoin and Ethereum ETFs, which launched in the U.S. this year. The SEC noted that while Thai investors could access these ETFs abroad, local rules have lagged. The current framework for mutual funds, introduced in 2015, needs to be updated.<\/p>\n\n\n\n

The new rules would limit retail mutual funds to a 15% allocation in crypto investments. Funds for institutional and high-net-worth investors would have no cap but must diversify to manage risks. Fund managers will need to follow strict guidelines when temporarily holding digital assets like Bitcoin or Ethereum. These assets can only be held for five business days for trading purposes.<\/p>\n\n\n\n

The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

A draft proposal was published, seeking public feedback on the updated investment criteria for digital assets.<\/p>\n\n\n\n

The SEC plans to let securities firms and asset managers offer services to large investors. This includes allowing investors to diversify their portfolios into crypto products like exchange-traded funds (ETFs). The changes aim to align with international developments and offer more options for expert-managed investments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

Growing Demand For Bitcoin ETFs<\/h2>\n\n\n\n

The proposal follows the rising global demand for Bitcoin and Ethereum ETFs, which launched in the U.S. this year. The SEC noted that while Thai investors could access these ETFs abroad, local rules have lagged. The current framework for mutual funds, introduced in 2015, needs to be updated.<\/p>\n\n\n\n

The new rules would limit retail mutual funds to a 15% allocation in crypto investments. Funds for institutional and high-net-worth investors would have no cap but must diversify to manage risks. Fund managers will need to follow strict guidelines when temporarily holding digital assets like Bitcoin or Ethereum. These assets can only be held for five business days for trading purposes.<\/p>\n\n\n\n

The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The Thai Securities and Exchange Commission (SEC) has proposed <\/a>new rules allowing mutual and private funds to invest in digital assets. The goal is to match global trends and meet growing interest from institutional investors.<\/p>\n\n\n\n

A draft proposal was published, seeking public feedback on the updated investment criteria for digital assets.<\/p>\n\n\n\n

The SEC plans to let securities firms and asset managers offer services to large investors. This includes allowing investors to diversify their portfolios into crypto products like exchange-traded funds (ETFs). The changes aim to align with international developments and offer more options for expert-managed investments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

Growing Demand For Bitcoin ETFs<\/h2>\n\n\n\n

The proposal follows the rising global demand for Bitcoin and Ethereum ETFs, which launched in the U.S. this year. The SEC noted that while Thai investors could access these ETFs abroad, local rules have lagged. The current framework for mutual funds, introduced in 2015, needs to be updated.<\/p>\n\n\n\n

The new rules would limit retail mutual funds to a 15% allocation in crypto investments. Funds for institutional and high-net-worth investors would have no cap but must diversify to manage risks. Fund managers will need to follow strict guidelines when temporarily holding digital assets like Bitcoin or Ethereum. These assets can only be held for five business days for trading purposes.<\/p>\n\n\n\n

The SEC will accept public feedback on the proposal until November 8. Final rules are expected to be issued next year.<\/p>\n","post_title":"Thai SEC Seeks Public Feedback On New Digital Asset Investment Rules","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thai-sec-seeks-public-feedback-on-new-digital-asset-investment-rules","to_ping":"","pinged":"","post_modified":"2024-10-12 03:20:13","post_modified_gmt":"2024-10-11 16:20:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19137","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19030,"post_author":"15","post_date":"2024-10-06 17:50:11","post_date_gmt":"2024-10-06 06:50:11","post_content":"\n

HBO is releasing a documentary <\/a>called Money Electric: The Bitcoin Mystery<\/em>, claiming to reveal Bitcoin\u2019s creator, Satoshi Nakamoto. Directed by Cullen Hoback, the film follows his previous work uncovering QAnon leader Ron Watkins in 2021. If Hoback successfully identifies Satoshi, one of Bitcoin\u2019s oldest mysteries will be ended.<\/p>\n\n\n\n

Past attempts to reveal Satoshi\u2019s identity have failed. In 2014, journalist Leah McGrath Goodman suggested that Dorian Satoshi Nakamoto, a Californian, was Bitcoin\u2019s creator. Dorian denied this, and other journalists debunked <\/a>the story. In 2015, an Australian computer scientist, Craig Wright claimed to be Satoshi. However, Wright's story fell apart quickly, and it was proven <\/a>that he fabricated his claim.<\/p>\n\n\n\n

Wright sued bitcoin developers and even family members to access Satoshi\u2019s 1.1 million bitcoins. He also filed lawsuits against anyone who called him a fraud, including podcaster Peter McCormack and teacher Magnus Granath. Earlier this year, a UK court ruled Wright is not Satoshi. He was ordered to admit this on his website and social media publicly. Wright plans to appeal, though his credibility has collapsed.<\/p>\n\n\n\n

The media has since hesitated to name another Satoshi candidate. Meanwhile, the crypto community has decided Satoshi\u2019s identity should remain a mystery. Coinbase even listed it as a potential business risk in their S-1 prospectus. However, public curiosity about Satoshi\u2019s identity remains strong.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Venezuela Cracks Down On Crypto Mining To Save Electricity<\/a><\/p>\n\n\n\n

The Hunt Continues<\/h2>\n\n\n\n

Some believe early cypherpunks like Hal Finney, Nick Szabo, Adam Back, or Wei Dai could be Satoshi. Each has denied being the creator. Others suggest Paul Le Roux, a cartel leader, or even the CIA. Another theory claims Satoshi wasn\u2019t an individual but a group of coders.<\/p>\n\n\n\n

Len Sassaman, a programmer and cypherpunk, is another candidate. He died in 2011, shortly after Satoshi stopped posting. According to Alex Thorn of Galaxy Digital, if the HBO documentary names Sassaman as Satoshi, it would have a neutral to positive effect on Bitcoin, since Sassaman is no longer alive. The real proof of Satoshi's identity, however, would be moving Satoshi\u2019s bitcoins, something no one has done. If Satoshi is dead or unwilling to step forward, this mystery may never be solved.<\/p>\n\n\n\n

<\/p>\n","post_title":"HBO Claims To Unveil Bitcoin's Creator In New Documentary","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hbo-claims-to-unveil-bitcoins-creator-in-new-documentary","to_ping":"","pinged":"","post_modified":"2024-10-06 17:50:16","post_modified_gmt":"2024-10-06 06:50:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19030","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19013,"post_author":"15","post_date":"2024-10-06 17:12:20","post_date_gmt":"2024-10-06 06:12:20","post_content":"\n

PayPal has made its first corporate payment using PayPal USD (PYUSD), a stablecoin pegged to the US dollar. According to a Bloomberg report <\/a>on October 3, the payment was made to Ernst & Young via SAP\u2019s digital currency hub. Ernst & Young serves as PayPal\u2019s auditor.<\/p>\n\n\n\n

The transaction showcases how stablecoins can facilitate instant payments for corporations. PayPal introduced <\/a>PYUSD in August 2023, backed by US dollar reserves and short-term US Treasurys. Currently, PYUSD has a market capitalization of $699 million, ranking it eighth among stablecoins, according <\/a>to DefiLlama.<\/p>\n\n\n\n

PayPal\u2019s senior vice president of blockchain and cryptocurrency, Jose Fernandez da Ponte, noted that stablecoins are \"well-suited\" for enterprise payments.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Expands Cryptocurrency Services To U.S. Businesses<\/a><\/p>\n\n\n\n

PayPal Expands Crypto Services<\/h2>\n\n\n\n

Recently, PayPal has expanded its digital asset offerings, allowing US business users (except in New York) to buy, sell, and trade cryptocurrencies. The stablecoin market is attracting new players<\/a>, with companies like Robinhood and Revolut considering launching their stablecoins as regulations take shape.<\/p>\n\n\n\n

Despite growing competition, Tether\u2019s USDT remains dominant with a market cap of $119.7 billion, far ahead of USD Coin (USDC), which has a market cap of $35.3 billion.<\/p>\n","post_title":"PayPal Makes First Corporate Payment With PYUSD Stablecoin","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-makes-first-corporate-payment-with-pyusd-stablecoin","to_ping":"","pinged":"","post_modified":"2024-10-06 17:12:28","post_modified_gmt":"2024-10-06 06:12:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19013","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18901,"post_author":"15","post_date":"2024-10-01 22:53:41","post_date_gmt":"2024-10-01 12:53:41","post_content":"\n

Fintech companies Robinhood and Revolut are exploring the possibility of launching their own stablecoins. This move is influenced by rapid growth, spurred by European regulatory changes.<\/p>\n\n\n\n

A report <\/a>from anonymous sources from Bloomberg suggests that both companies are looking to enter the expanding stablecoin market. This sector is currently dominated by Tether\u2019s USDT, which holds over 75% of the market after benefiting from the economic landscape and regulatory challenges in the U.S.<\/p>\n\n\n\n

Tether\u2019s success has been driven by banking crises and increased regulatory scrutiny, resulting in the stablecoin issuer reporting $5.2 billion in profits for the first half of 2024. Tether\u2019s business model is now motivating more players to join the stablecoin market.<\/p>\n\n\n\n

Despite Bloomberg's report, neither Robinhood nor Revolut have confirmed their plans to issue stablecoins.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Robinhood's Connect Allows Users To Access DeFi(Opens in a new browser tab)<\/a><\/p>\n\n\n\n

The Stablecoin Market This Year<\/h2>\n\n\n\n

In August, PayPal launched <\/a>its U.S. dollar-backed stablecoin, PYUSD, on Ethereum. This stablecoin offers fast payments and conversions between digital and fiat currencies.<\/p>\n\n\n\n

Earlier this month, Sui Network introduced <\/a>Circle\u2019s USDC stablecoin. It also launched the Cross-Chain Transfer Protocol (CCTP) to enhance liquidity and enable smoother cross-chain transfers. This marks Sui Network's first integration of Circle's technology.<\/p>\n\n\n\n

In July, Tron founder Justin Sun announced <\/a>a gas-free stablecoin. This new stablecoin will support free peer-to-peer transfers on the Tron blockchain. There are plans for future compatibility with Ethereum.<\/p>\n","post_title":"Robinhood And Revolut Consider Entering Stablecoin Market","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"robinhood-and-revolut-consider-entering-stablecoin-market","to_ping":"","pinged":"","post_modified":"2024-10-01 22:55:20","post_modified_gmt":"2024-10-01 12:55:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18901","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18888,"post_author":"15","post_date":"2024-10-01 19:04:26","post_date_gmt":"2024-10-01 09:04:26","post_content":"\n

On September 25, PayPal announced <\/a>a major expansion of its cryptocurrency services. U.S. businesses can buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This move marks a significant shift for the company, which has offered similar services to private users through PayPal and Venmo accounts since 2020.<\/p>\n\n\n\n

Jose Fernandez da Ponte, PayPal\u2019s Senior Vice President of Blockchain, Crypto, and Digital Currencies, explained that the decision to extend these capabilities to businesses was driven by rising demand from entrepreneurs seeking the same cryptocurrency functionality as consumers. <\/p>\n\n\n\n

\u201cBusiness owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We\u2019re excited to meet that demand,\u201d he stated.<\/p>\n\n\n\n

In addition to the core features, PayPal will allow U.S. merchants to transfer cryptocurrencies to eligible third-party wallets. It offers greater flexibility in managing digital assets. However, crypto services will not be available initially to businesses in New York, a state with stringent cryptocurrency regulations. PayPal has not yet provided a timeline for potential inclusion in the New York market.<\/p>\n\n\n\n

See Related:<\/em><\/strong> PayPal Partners With MoonPay To Take Crypto Mainstream In The US<\/a><\/p>\n\n\n\n

Paypal Introduces Its Own Stablecoin <\/h2>\n\n\n\n

In August 2023, PayPal launched its stablecoin, PYUSD, fully backed by U.S. dollar deposits and is redeemable at a 1:1 ratio with the dollar. <\/p>\n\n\n\n

PYUSD is designed for everyday transactions and has since expanded to the Solana blockchain due to Solana\u2019s lower transaction costs. The integration on Solana also introduces \"confidential transactions,\" obscuring payment amounts for privacy while maintaining visibility for regulatory purposes. <\/p>\n\n\n\n

Despite its growth to a $1 billion market cap, PYUSD still trails behind market leaders like Tether ($118 billion) and Circle\u2019s USDC ($35 billion) as of August 2024.<\/p>\n\n\n\n

<\/p>\n","post_title":"PayPal Expands Cryptocurrency Services To U.S. Businesses","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"paypal-expands-cryptocurrency-services-to-u-s-businesses","to_ping":"","pinged":"","post_modified":"2024-10-01 19:09:15","post_modified_gmt":"2024-10-01 09:09:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18888","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18808,"post_author":"15","post_date":"2024-09-23 04:18:06","post_date_gmt":"2024-09-22 18:18:06","post_content":"\n

MicroStrategy has finalized <\/a>a $1.01 billion offering of 0.625% convertible senior notes, due in 2028. The private offering, completed on September 19, was aimed at institutional investors and allows holders to convert the notes into cash or MicroStrategy stock.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1837100617505907021\n<\/div><\/figure>\n\n\n\n

The company plans to use a significant portion of the funds to fuel its aggressive Bitcoin acquisition strategy. Between September 13 and 19, MicroStrategy used $458.2 million from the offering to purchase 7,420 Bitcoins at an average price of $61,750 each. The company has also allocated part of the funds to redeem $500 million in senior secured notes, which will release collateral, including 69,080 Bitcoins.<\/p>\n\n\n\n

On September 12, MicroStrategy made a significant purchase <\/a>of 18,300 BTC worth $1.11 billion, boosting its total Bitcoin holdings. By September 20, the company had accumulated 252,220 BTC, valued at approximately $15.88 billion. With an additional 25,720 BTC acquired in September alone, this marked an aggressive acquisition period. In total, MicroStrategy has added 63,070 BTC in 2024, further solidifying its position as one of the largest corporate holders of Bitcoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes<\/a><\/p>\n\n\n\n

Bitcoin Accumulation Strategy<\/h2>\n\n\n\n

MicroStrategy's aggressive Bitcoin accumulation strategy has inspired various companies to adopt a similar approach. <\/p>\n\n\n\n

Firms like Cathedra Bitcoin, and Metaplanet follow in MicroStrategy's footsteps by incorporating Bitcoin into their corporate treasuries. Cathedra Bitcoin, for instance, has pivoted from mining <\/a>to managing data centers, allowing it to accumulate Bitcoin more sustainably. Meanwhile, Metaplanet\u2019s strategy of steadily increasing its Bitcoin reserves has led to significant growth<\/a>, with its stock value surging by 443% this year alone.<\/p>\n\n\n\n

These companies are leveraging Bitcoin as both a hedge against inflation and a key asset to enhance shareholder value, mirroring the bold financial playbook pioneered by MicroStrategy.<\/p>\n","post_title":"MicroStrategy Completes $1.01 Billion Note Offering To Fund Bitcoin Purchases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-completes-1-01-billion-note-offering-to-fund-bitcoin-purchases","to_ping":"","pinged":"","post_modified":"2024-09-23 04:18:14","post_modified_gmt":"2024-09-22 18:18:14","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18808","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18776,"post_author":"15","post_date":"2024-09-21 04:22:52","post_date_gmt":"2024-09-20 18:22:52","post_content":"\n

State Treasurer John Fleming announced <\/a>that the government will accept Bitcoin, Bitcoin Lightning, and USD Coin for state payments. Louisiana residents can now use their private and secure crypto wallets to pay for state services.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Dr. Fleming explained that this move helps the government keep up with advancing technology. By accepting cryptocurrency, the state offers residents more payment choices.<\/p>\n\n\n\n

\"In today's digital age, government systems must evolve and embrace new technologies.\"<\/em> He added, \"By introducing cryptocurrency as a payment option, we're not just innovating; we're providing our citizens with flexibility and freedom in interacting with state services.\"<\/em> <\/p>\n\n\n\n

Dr. Fleming said this innovation will protect the state from cryptocurrency volatility.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Lightning Network Upgrades Coming To El Salvador Bitcoin ATMs<\/a><\/p>\n\n\n\n

Bead Pay Role<\/h2>\n\n\n\n

Bead Pay will convert cryptocurrency payments into U.S. dollars, so the state doesn't handle digital currencies directly. This process is similar to credit or debit card payments. State Representative Mark Wright, a supporter of digital asset laws, is excited about these new payment options and hopes Louisiana will remain a leader in digital payments.<\/p>\n\n\n\n

The state believes these options will reduce fraud and enhance transaction security. Citizens can pay with Bitcoin wallets, while the state continues to receive U.S. dollars.<\/p>\n\n\n\n

The Louisiana Department of Wildlife and Fisheries is the first agency to adopt this system, with more departments expected to follow. Secretary Madison Sheahan said this change will improve customer service and help the department better serve its users.<\/p>\n","post_title":"Louisiana Now Accepts Bitcoin For State Payments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"louisiana-now-accepts-bitcoin-for-state-payments","to_ping":"","pinged":"","post_modified":"2024-09-21 04:22:59","post_modified_gmt":"2024-09-20 18:22:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18776","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18671,"post_author":"15","post_date":"2024-09-14 21:06:06","post_date_gmt":"2024-09-14 11:06:06","post_content":"\n

Michael Saylor of MicroStrategy has announced <\/a>the acquisition of 18,300 Bitcoin for $1.11 billion. Its total holdings grew to 244,800 BTC purchased at a combined cost of $9.45 billion.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/saylor\/status\/1834564555944481227\n<\/div><\/figure>\n\n\n\n

At current market prices, MicroStrategy's Bitcoin holdings are valued at over $14.6 billion. The company\u2019s stock price has surged to 6.7% alongside its growing Bitcoin reserves.<\/p>\n\n\n\n

Despite the challenging market conditions in 2024, MicroStrategy remains committed to its long-term Bitcoin strategy. The company views Bitcoin as a superior treasury asset compared to cash, which is vulnerable to inflation.<\/p>\n\n\n\n

Just this year, Microstrategy purchased a total of 55,659 BTC which is about 25% of its portfolio. <\/p>\n\n\n\n

See Related:<\/em><\/strong> MicroStrategy Acquires Additional $615M In Bitcoin, $5.9B Total Bitcoin Portfolio<\/a><\/p>\n\n\n\n

Microstrategy Bitcoin Game Plan<\/h2>\n\n\n\n

Last August 1, Microstrategy announced <\/a>that it was planning to raise $2 billion where proceeds go to buying more Bitcoin. The company started adding Bitcoin to its portfolio in 2020 and only sold <\/a>704 BTC once just to benefit from the tax.<\/p>\n\n\n\n

MicroStrategy's approach has attracted followers, with companies like Semler Scientific and Metaplanet adopting similar strategies. As of August 26, Semler Scientific holds 1,012 BTC, while Metaplanet holds 398.8 BTC as of September 12.<\/p>\n","post_title":"MicroStrategy's Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-bitcoin-holdings-soar-to-14-6b-after-massive-1-11-billion-purchase","to_ping":"","pinged":"","post_modified":"2024-09-14 21:06:10","post_modified_gmt":"2024-09-14 11:06:10","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18671","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18635,"post_author":"15","post_date":"2024-09-14 20:37:33","post_date_gmt":"2024-09-14 10:37:33","post_content":"\n

Popular trading platform eToro will halt trading for most cryptocurrencies following a settlement with the US Securities and Exchange Commission (SEC). The SEC charged eToro with operating an unregistered brokerage and clearing agency for its crypto trading activities.<\/p>\n\n\n\n

The SEC announced <\/a>that eToro has agreed to pay $1.5 million and limit the number of crypto assets available for trading in the US. This move complies with federal securities laws regarding the facilitated buying and selling of certain crypto assets as securities.<\/p>\n\n\n\n

Starting September 12, US customers will only be able to trade Bitcoin, Bitcoin Cash, and Ether. Customers need to sell all other crypto assets within 180 days. This isn\u2019t eToro\u2019s first regulatory challenge. In April, the Philippines SEC also accused <\/a>the platform of offering unregistered securities.<\/p>\n\n\n\n

See related: <\/em><\/strong>Twitter Partners With eToro; Providing Real-Time Cryptocurrency And Stock Prices<\/a><\/p>\n\n\n\n

SEC's Crypto Enforcement<\/h2>\n\n\n\n

In 2024, the US SEC imposed <\/a>nearly $4.7 billion in fines against crypto firms and executives, marking a 3,000% increase from 2023. This spike was primarily driven by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June.<\/p>\n\n\n\n

Despite fewer cases, the SEC's total fines this year exceeded the combined amount from 2013 to 2023, reflecting a strategic focus on high-profile cases. The fines included penalties, forfeiture, and other financial recoveries.<\/p>\n","post_title":"eToro Restricted To Bitcoin, Bitcoin Cash, And Ethereum After $1.5M SEC Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"etoro-restricted-to-bitcoin-bitcoin-cash-and-ethereum-after-1-5m-sec-settlement","to_ping":"","pinged":"","post_modified":"2024-09-14 20:37:36","post_modified_gmt":"2024-09-14 10:37:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18635","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":18546,"post_author":"15","post_date":"2024-09-09 01:01:02","post_date_gmt":"2024-09-08 15:01:02","post_content":"\n

Government Efficiency CommissionFormer U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency and endorsed <\/a>tech billionaire Elon Musk to lead a new government task force. Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/alx\/status\/1831735405269385603\n<\/div><\/figure>\n\n\n\n

He stated that if elected, he would eliminate at least ten outdated regulations for every new one introduced.<\/p>\n\n\n\n

Trump expressed gratitude toward Tesla CEO Elon Musk for his endorsement. \"I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.\u201d<\/em> He emphasized the urgency by adding, \u201cWe need to do it, and can't go on the way we are now.\u201d<\/p>\n\n\n\n

Trump mentioned that Musk has agreed to head the task force if his schedule permits. Musk responded in a post <\/a>on September 5, saying, \u201cI look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.\u201d<\/p>\n\n\n\n

See Related: <\/em><\/strong>Elon Musk Advocates Crypto Over Fiat<\/a><\/p>\n\n\n\n

Trump Proposes National Bitcoin Reserve<\/h2>\n\n\n\n

Donald Trump has unveiled an ambitious plan to establish a national Bitcoin reserve<\/a>, aiming to position the United States as a global leader in the cryptocurrency space. By creating a \"stockpile\" of Bitcoin, Trump seeks to bolster the U.S.'s influence in the rapidly growing crypto sector.<\/p>\n\n\n\n

He stressed the importance of American leadership in this area, warning that falling behind could allow China to dominate the space. As part of the proposal, Trump plans to create a cryptocurrency presidential advisory council to guide the nation's strategy in this evolving industry.<\/p>\n","post_title":"Trump Endorses Elon Musk To Lead Government Efficiency Commission","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-endorses-elon-musk-to-lead-government-efficiency-commission","to_ping":"","pinged":"","post_modified":"2024-09-09 01:01:09","post_modified_gmt":"2024-09-08 15:01:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18546","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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