I hope you had a good weekend, folks. In today's newsletter, MicroStrategy buys a record $5.4 billion in bitcoin, crypto game developer Sky Mavis cuts 21% of its workforce, Solana's monthly DEX volume exceeds $100 billion and more.
Meanwhile, U.S. spot Bitcoin ETFs lead a $3.1 billion net weekly inflow record into global crypto investment products. Plus, U.S. customs reportedly halt Bitmain imports amid speculation over sanctions.
Let's get started.
Business intelligence firm and corporate bitcoin holder MicroStrategy purchased another 55,500 BTC for $5.4 billion between Nov. 18 and Nov. 24, according to an 8-K filing with the SEC on Monday.
Axie Infinity crypto game developer Sky Mavis is laying off 21% of its workforce, affecting about 50 of its 250 global team, amid a "shift in priorities," according to CEO and co-founder Trung Nguyen.
Solana's decentralized exchanges surpassed $100 billion in monthly trading volume for the first time, generating a record $109.8 billion in November so far, doubling Ethereum's $55 billion.
Capital is shifting from bitcoin to ether, with derivatives activity signaling strong confidence in ETH's near-term upside, according to analysts at Wintermute and QCP Capital.
Solana-based memecoin launcher Pump.fun has come under severe scrutiny after reports of users threatening self-harm and violence during promotional live streams if their tokens fail to reach certain price levels.
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