MicroStrategy Eyes 10B Shares Increase to Back BTC Plan

MicroStrategy Eyes 10B Shares Increase to Back BTC Plan

MicroStrategy is back with another wild announcement, this time proposing increasing its Class A common shares from 330 million to 10.33 billion and preferred shares from 5 million to 1.005 billion. This will supports the company's “21/21” Bitcoin plan, for raising $42 billion over three years.

Recently, the company’s board expanded to include Binance’s former CEO Brian Brooks, alongside Jane Dietze and Gregg Winiarski. MicroStrategy also recently purchased 5,262 BTC at an average price of $106,662 per coin, increasing its total holdings to 444,262 BTC worth $41.6 billion.

The company’s stock price has grown 477% over the past year but declined 8.78% on Monday following the its inclusion to the Nasdaq 100. The special stockholder meeting to vote on the share increase proposals is expected in 2025.

‍

Uniswap Partners with Blockaid for Token Safety System

Uniswap Labs has utilized Blockaid’s onchain detection technology to safeguard users against malicious tokens. The system uses static and dynamic validation alongside machine learning to identify scams, including phishing schemes and technical exploits like “100% sell fee” tokens. Nearly 60% of tokens created in 2024 were flagged as malicious, underscoring the system’s importance.

Blockaid’s tool will operate across Uniswap’s web, mobile, and wallet extensions, providing real-time warnings about suspicious tokens. Blockaid’s software, used by Coinbase and MetaMask, has reportedly prevented over $4 billion in losses. The collaboration strengthens security for DeFi users, addressing a critical barrier to broader adoption.

‍

Binance and Kraken Back Usual’s $10 Million Funding Round

Binance and Kraken led a $10 million Series A funding round for Usual, the issuer of the USD0 stablecoin, which is backed 1:1 by US Treasuries. USD0 reached a $1 billion market cap within months of launch and is now the seventh-largest stablecoin. Usual’s protocol, governed by the USUAL token, rewards users with yields generated by reserve assets.

USD0 holders can stake their tokens for up to four years to earn additional rewards. Other investors in Usual include Ethena, Ondo, and Echo, among others. The startup aims to challenge the transparency and profit-sharing practices of existing stablecoins like Tether's USDT and Circle's USDC.

‍

North Korea Linked to $305 Million DMM Hack

North Korean hackers were identified as the perpetrators of the May 2024 hack on Japanese crypto exchange DMM, which resulted in the theft of 4,500 BTC. The attack leveraged social engineering to compromise an employee at Ginco, a crypto wallet company, gaining access to DMM’s communication systems. The stolen Bitcoin’s value forced DMM to shut down its operations.

The incident was attributed to TraderTraitor, a North Korea-affiliated group responsible for over $1.34 billion in crypto thefts across 47 incidents this year. The hack additionally highlights the sophisticated tactics employed by state-sponsored cybercriminals, including targeted phishing and malicious coding.

‍

Data of the Day

DeFi hacks decreased 40% in 2024, with losses dropping from $787 million in 2023 to $474 million, thanks to improved protocols and cryptographic measures. Bridge-related exploits, historically a major vulnerability, declined from $338 million to $114 million. Despite this, access control breaches accounted for nearly half of all DeFi losses, including the $55 million Radiant Capital hack.

In contrast, CeFi losses more than doubled to $694 million, attributed by poor private key management and centralized vulnerabilities. Major incidents included the $305 million DMM hack we just reviewed and the $230 million WazirX hack from July. Hacken’s report emphasizes the stark security gap between decentralized and centralized financial systems.

‍

More Breaking News

• The US IRS reiterated that staking rewards are taxable as income upon receipt, denying a legal challenge from Joshua and Jessica Jarrett.
• Matador Technologies, a Canadian firm, just adopted a Bitcoin treasury reserve strategy with an initial $4.5 million purchase this month.
• Bitget partnered with TRON and SunPump, acquiring $10M of TRX to promote TRON’s blockchain and support its booming meme coin projects.
• MoonPay is reportedly in talks to acquire Helio Pay for $150M, expanding its crypto payment services for e-commerce merchants and content creators.
• Russia imposed a six-year crypto mining ban in 10 regions due to energy consumption concerns, with temporary restrictions possible during peak demand.
• Aave proposed integrating Chainlink’s new MEV oracle to redirect profits from transactions back running to its ecosystem, benefiting DeFi users.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.