MicroStrategy Adds Another 18.3K Bitcoin for $1.1 Billion

MicroStrategy Adds Another 18.3K Bitcoin for $1.1 Billion

MicroStrategy has purchased an additional 18,300 Bitcoin between August 6 and September 12, investing nearly $1.1 billion. This acquisition brings the company's total holdings to 244,800 BTC, valued at approximately $14.14 billion. Funded by selling over 8 million shares of company stock, this is the firm's largest Bitcoin purchase since February 2021.

Led by CEO Michael Saylor, who predicts Bitcoin could reach $13 million per coin over the next 21 years, MicroStrategy remains the largest corporate holder of Bitcoin, controlling about 1% of its total market capitalization. The company's aggressive Bitcoin strategy has paid off, with its share price increasing by over 800% since it began accumulating the cryptocurrency in August 2020.

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Coinbase Hit With Bitcoin ETFs Controversy After Discord Bans

A misunderstanding in Coinbase’s Base server resulted in suspensions for 5000+ users accused of participating in a raid. Discord moderators reportedly banned anyone connected to the now-deleted Oekaki server, which was accused of staging a coordinated raid on the Base Discord, despite users insisting they were merely trolling. The controversy escalated when entire servers got deleted.

The incident fueled broader concerns about Coinbase, coinciding with increased scrutiny over the platform’s transparency in handling Bitcoin ETFs. Some community members questioned whether Coinbase’s BTC reserves tied to BlackRock’s ETFs are fully auditable onchain. Coinbase CEO Brian Armstrong responded, emphasizing that all transactions are settled onchain within one business day.

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Kraken Demands Jury Trial in SEC Lawsuit Over Crypto

Kraken has formally responded to the SEC’s lawsuit, demanding a jury trial and contesting the agency’s claims that 11 cryptocurrencies on its platform qualify as unregistered securities. Kraken argues that tokens such as Solana, Cardano, and Polygon don’t meet the legal definition of securities, citing a recent ruling in the Ripple case that distinguished between a token and related agreements.

Kraken, which has operated since 2013 without prior SEC warnings, accused the agency of inconsistent guidance and a lack of transparency. Kraken also criticized the SEC for blocking its efforts to comply with regulations, stating they were "stonewalled" in their attempts to register. This is Kraken’s second legal dispute with the SEC, following a $30 million settlement over its staking services earlier this year.

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Tether Hires Former PayPal & Chainalysis Exec Jesse Spiro

Tether has appointed Jesse Spiro, former head of regulatory relations at PayPal’s Blockchain and Digital Currencies division, as its new head of government affairs. In his role, Spiro will lead the company's policy and engagement efforts with lawmakers, regulators, and key stakeholders worldwide. Spiro brings over six years of experience in government relations, including his tenure at Chainalysis.

Tether’s CEO, Paolo Ardoino, welcomed Spiro’s deep expertise in blockchain regulation, stating it would be essential for guiding the company’s efforts in the evolving digital asset space. Spiro’s appointment comes as Tether recently joined forces with TRON and TRM Labs to launch a financial crime unit aimed at combating illicit activities involving Tether USDT.

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Data of the Day

A recent Binance Research report revealed that the market value of onchain real-world assets (RWAs), excluding stablecoins, has surpassed $12 billion. This growth signifies increasing investor interest in tokenizing traditional assets like real estate, government bonds, stocks, and even intangible assets such as carbon credits.

Tokenized US Treasury funds have exceeded $2.2 billion in market value, with BlackRock's BUILD fund leading the way at nearly $520 million. Elevated US interest rates have made tokenized Treasuries particularly attractive, offering yields between 4.5% and 5.5%.

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More Breaking News

• Crypto millionaire James Fickel has lost over $43 million betting on Ethereum against Bitcoin, with his debt on Aave now reaching $132 million as Ether underperformed.
• Four stablecoin issuers, including Tether and Circle, froze nearly $5 million linked to North Korea's Lazarus Group, following a blockchain investigation led by ZachXBT.
• Ex-FTX CEO Sam Bankman-Fried filed an appeal for a new trial, claiming the judge and prosecutors were biased during his conviction for defrauding FTX customers.
• Spot Bitcoin ETFs saw $263.1 million in inflows on Friday, their biggest in two months, as traders bet on a Fed interest rate cut.
• ZKsync has launched its governance model on the mainnet, allowing community members to vote on protocol changes through a decentralized system of token holders.
• The SEC expanded its lawsuit against Binance, adding more projects like Axie Infinity, Filecoin and Cosmos to its list of unregistered securities for its AXS, FIL, ATOM tokens.

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