Highlights
Trump Backs Bitcoin Mining, Gaining Crypto Industry Support
MicroStrategy to Offer $500M Convertible Notes for Bitcoin Acquisition
Terraform Labs to Dissolve, Community to Take Over Terra Blockchain
Former President Donald Trump met with bitcoin miners at Mar-a-Lago, expressing his support for bitcoin mining and its benefits for energy grid stability, as reported by Bloomberg. The meeting included representatives from firms like CleanSpark Inc. and Riot Platforms. Trump’s pro-crypto stance has gained him support from industry leaders, evidenced by a recent $12 million fundraising event attended by figures like the Winklevoss twins. Trump has also announced he will accept political donations in cryptocurrencies. Meanwhile, President Biden’s campaign is seeking guidance from the crypto industry on digital asset policies, indicating a shift in their stance.
MicroStrategy announced plans to offer $500 million in convertible senior notes due 2032 in a private offering, with an additional option for $75 million. The notes will bear interest semi-annually and mature in 2032. Convertible into cash or stock, the notes will support MicroStrategy’s bitcoin acquisition and corporate purposes. The offering will be limited to qualified institutional buyers under Rule 144A. The company, a pioneer in bitcoin development and enterprise analytics software, emphasizes innovation and bitcoin integration in its financial strategies.
Chris Amani, CEO of Terraform Labs, announced the company’s plan to dissolve operations, urging the community to take control of the Terra blockchain. The firm will sell its projects and burn unvested Luna tokens. This decision follows a $4.47 billion settlement with the SEC over the collapse of the UST stablecoin in 2022. The community is expected to manage Terra and Terra Classic blockchains. Terraform’s settlement includes significant financial penalties and restrictions on co-founder Do Kwon. Amani, who became CEO in July 2023, confirmed Terraform’s operations will completely wind down.
News
Trump says he will advocate for bitcoin miners in White House: report
MicroStrategy Announces Pricing Of Offering Of Convertible Senior Notes — Quick Facts
Terraform Labs to dissolve, CEO asks community to take over following $4.47 billion SEC settlement
Fake federal employees target crypto investors, CISA warns
Products
Cardano’s Voltaire era nears with June hard fork milestone
MultiversX boosts layer-2 transaction speed with Sovereign Chains
First Bitcoin ETF to List on Australia’s Bourse in Global Wave
Storm Partners launches Web3 innovation sandbox in Geneva
Regulation
MiCA regulation takes shape under EBA’s newest guidelines
Taiwan forms crypto industry association as major step toward self-regulation
Nigeria Drops Tax Charges Against Binance Executives
Zimbabwe consults crypto firms on virtual asset regulation needs
Funding
Paradigm raises $850 million for a third investment fund
May institutional investments hit $1B driven by Ethereum
zkSync Abstraction Layer Zyfi Attracts $2M Investment to Drive Gas Abstraction Innovation
BNB Chain to support early projects with new incubation alliance
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