Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
Metaplanet Announces $11.3M Debt Sale For Additional Bitcoin Purchases
Tokyo-listed Metaplanet has announced a debt sale to boost its Bitcoin stash, following the lead of US-listed business intelligence firm MicroStrategy.
It is issuing one-year ordinary bonds with a guarantee totaling 1.75B yen at an annual interest rate of 0.36%. The funds raised will be used entirely to acquire BTC.
Metaplanet started buying Bitcoin in April this year as a hedge against Japan’s debt issues and volatility in the yen. Since then, it has accumulated 1,018 BTC worth $92.33M.
Google’s Gemini AI Tells Student To ‘Please Die’
A 29-year-old college grad student in Michigan was shocked when Google’s AI chatbot, Gemini, gave him harmful advice instead of help for a school project.
Sumedha Reddy was working alongside his sister when Google’s AI told him: “Please die.” Sumedha shared the disturbing incident on Reddit and included a Google-generated link to the conversation.
Google admitted the chatbot violated safety rules and promised to prevent similar incidents in the future.
MicroStrategy Buys Another $4.6 Billion In Bitcoin
MicroStrategy Inc. recently bought about 51,780 Bitcoin for around $4.6 billion, the largest purchase by the crypto hedge fund proxy since it began acquiring the digital asset more than four years ago.
The enterprise software maker, whose corporate strategy includes buying the cryptocurrency, bought the tokens between November 11th and November 17th, according to a US Securities and Exchange Commission filing. The company now holds more than $29 billion in Bitcoin.
Trump To Meet Privately With Coinbase CEO Brian Armstrong
According to The Wall Street Journal, Coinbase CEO Brian Armstrong will meet privately with Donald Trump to discuss staffing decisions for critical positions.
While Armstrong has not donated to Trump’s 2024 presidential campaign or supported political action committees, he previously stated that Coinbase would be ready to work with a Trump administration.
Trump said during the campaign that if elected, he would form a presidential advisory commission focused on Bitcoin and crypto and develop transparent regulatory guidance in the sector.
OCC Approves Options On Spot Bitcoin ETFs
The Options Clearing Corporation (OCC) in the United States has announced its plans to introduce options for spot Bitcoin ETFs. This move marks a significant step in the financial markets, potentially offering investors new avenues for trading and hedging Bitcoin-related assets.
The OCC’s move to launch spot Bitcoin ETF options comes amid growing interest and demand for crypto investment products. As the regulatory landscape evolves, introducing these options could provide more flexibility and opportunities for market participants.
Trump Media In Reported Talks To Buy Crypto Trading Platform Bakkt
The Financial Times, citing two people with knowledge of the talks, reports that Donald Trump’s social media company is in advanced talks to buy crypto trading firm Bakkt. According to the report, the deal will not include Bakkt’s crypto custody business, which the firm has said will likely wind down.
Bakkt was created by and is owned by Intercontinental Exchange, the owner of the New York Stock Exchange (NYSE). Trump Media & Technology Group (TMTG) operates the social media platform Truth Social, and acquiring Bakkt would move the company into new areas.
Trump Said To Consider Crypto Lawyer Teresa Goody Guillén To Lead The SEC
According to a CoinDesk report, President-elect Donald Trump is reportedly considering Teresa Goody Guillén to lead the Securities and Exchange Commission (SEC).
This consideration comes amid speculation that current SEC Chair Gary Gensler may step down by Thanksgiving after hinting last week that he was preparing to leave his position.
Goody Guillén is a seasoned securities lawyer with experience serving the SEC and opposing the agency on behalf of blockchain companies and traditional businesses. She is also a partner at the law firm BakerHostetler and co-lead of its blockchain practice.
Michael Saylor To Advocate For Bitcoin At Microsoft Board Meeting, Offers To Educate Rumble CEO As Well
MicroStrategy Chairman Michael Saylor will present a case for Bitcoin investment to the board of directors at Microsoft Corporation.
During an X space hosted by asset manager VanEck, Saylor said he was contacted by the activist who put up the shareholder proposal to present to the board.
Saylor said he even proposed meeting with CEO Satya Nadella to discuss the strategy, but the offer was not accepted.
Meanwhile, Saylor also offered to discuss the implications of adding Bitcoin to the Treasury with Rumble Inc. CEO Chris Pavloski.
Trump Team To Create First-Ever White House Crypto Role
According to Bloomberg News, President-elect Donald Trump’s transition team is looking to create the first White House role dedicated exclusively to crypto policy.
The report added that the Trump team is currently vetting candidates for the role, which could include responsibilities such as liaising with Congress, the White House, and federal regulatory agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Cardano Founder Charles Hoskinson Endorses Coinbase’s Brian Armstrong For White House Crypto Role
Cardano founder Charles Hoskinson has endorsed Coinbase CEO Brian Armstrong for the reported White House crypto role Donald Trump is considering.
In an X post, Hoskinson stated that he feels the role needs to be filled with someone neutral who works with all the protocols and deeply understands why crypto is special. He added that the ideal candidate must also understand what the US government under Biden has done wrong.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!
