I hope you had a good weekend, folks. In today's newsletter, XRP becomes the world's third-largest cryptocurrency, Michael Saylor advises Microsoft on adopting bitcoin as a treasury reserve asset, MicroStrategy acquires another $1.5 billion worth of bitcoin and more.
Meanwhile, Bernstein sees Ethereum ETF staking yields as likely to be approved in the U.S. under a crypto-friendly "Trump 2.0" SEC as global Ethereum investment products hit record annual inflows of $2.2 billion.
Let's get started.
XRP, closely associated with digital asset infrastructure firm Ripple, has surpassed Tether's USDT and Solana's SOL to become the world's third-largest cryptocurrency with a market cap of around $150 billion.
MicroStrategy co-founder Michael Saylor urged Microsoft CEO Satya Nadella and its board of directors to adopt bitcoin on its balance sheet, calling it the "best asset you can own."
MicroStrategy has acquired a further 15,400 BTC for approximately $1.5 billion at an average price of $95,976 between Nov. 25 and Dec. 1.
Japanese crypto exchange DMM Bitcoin plans to shut down operations by March 2025 after transferring its customer accounts and custodial assets to SBI VC Trade.
Crypto infrastructure provider BitGo has launched a dedicated retail platform — providing global access to its regulated digital asset trading, staking, lending, wallet and qualified custody services for the first time.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
