Wow, what happened to Satoshi? We are in the thirty-seventh article of our series. This week, especially for the cryptocurrency market, metaverse and ‘dog’ It has been a busy time in terms of themed tokens.
This week’s article will talk about MicroStrategy’s financial report, regulations in the US, the arbitration process with Binance, the operation in Turkey, corporate activity in South Korea and the Facebook whistleblower.
MicroStrategy can continue to grow its bitcoin reserves
Software company MicroStrategy announced its third-quarter annual report, while it was almost halfway through the quarter. 9,000 bitcoins announced its purchase.
MicroStrategy, the name with the largest BTC reserve among publicly traded companies, is today 114,042 bitcoins holding.
The value of BTCs owned by MicroStrategy at the time of writing about 7 billion dollars level, the company itself 7 billion dollars has market value.
Announcing a $754.7 million decline in value, the company stated that the book value of these bitcoins is $2.4 billion.
According to the statements made in the annual report, MicroStrategy “In order to continue implementing the bitcoin strategy, raise additional capital will continue to review opportunities for
Michael Saylor, the CEO of the company, attended the meeting with the shareholders and said that bitcoin is for MicroStrategy shareholders. “great” is a long-term investment choice and their bitcoins as a company have an intention to sell said it wasn’t.
Saylor stated that Bitcoin continues to be adopted by institutional investors. It can carry hope for Turkey. he had said.
Saylor’s personal portfolio independent of MicroStrategy’s reserves 17,732 BTC exists. Average them Purchased at a unit price of $9,882 Saylor, yet didn’t sell any of them.
U.S. banks could get clarity on cryptocurrencies
Jelena McWilliams, President of the US Federal Deposit Insurance Corporation (FDIC), on how banks can play a role in the cryptocurrency industry trying to bring legal clarification explained.
At the Money 20/20 event Speaking McWilliams, “My job is to pave the way for innovation, while at the same time mitigating risks and [bü sürece dair] is to set clear rules.” said.
“My goal; Ask people about how our current rules and policies apply to cryptoassets, what activities banks are allowed to engage in, and what expectations we have when auditing banks that engage in those activities. to show a clear path”
McWilliams said that as the Federal Deposit Insurance Agency, they have been collaborating with the Federal Reserve and OCC for several months on crypto money. What policies will be subject to banks that engage in activities involving cryptocurrencies? announced that they were working on it.
outside the event An interview with Reuters by McWilliams; Cryptocurrency customers provide custody service wanting cryptocurrency wanting to use and of these collateral asset who want to take advantage of to banks provide clarity at the legal level said they wanted
“I think we should allow banks to be involved in this area, and while doing so, we should manage and mitigate risks. […] If we do not include banks, this activity is not including will develop [ve] federal regulators will not be able to regulate it.”
Arbitration was filed in the case of 140 million dollars
The Block According to a news shared by Binance based on sources that are known to have knowledge on the subject, an investor in Europe filed for arbitration against Binance through the International Chamber of Commerce (ICC).
Funds on the stock exchange as of November 2020 was unfairly liquidated. the investor proposing over 140 million dollars expects compensation for a financial loss.
It has been reported that the arbitration process was initiated in Switzerland and that more than 45 names from around the world who had connections with Binance passed through the process.
Arbitration rules of the International Chamber of Commerce, international trade disputes used as an effective way to solve it. While especially London, Paris, Geneva, Singapore, New York and Zurich stand out as the place of arbitration, Turkey has also been designated as the place of arbitration several times.
European investor going to arbitration, Binance itself forced him to sell large sums of cryptocurrencies in conflict with his own interests. claims. Talking about Binance’s automatic liquidation system, the investor said that the liquidation in question is a part of Binance. caused a conflict of interest also suggests.
Binance has yet to make a statement about the claims.
450 million lira operation for investment consultancy company
Trabzon Provincial Police Department Anti-Smuggling and Organized Crime Branch Directorate carried out simultaneous operations in 12 provinces based in Trabzon last week.
Trabzon Chief Public Prosecutor’s Office qualified embezzlement in the operations carried out within the scope of the investigation carried out with the alleged 18 suspects detained receipt.
According to the national media, the authorities are based in Ankara. İmer Group Investment Consulting He had been carrying out technical and physical work on his company for about 4 months.
It was announced that his father, Z.Ş., assumed the founding of the company, of which B.Ş. was the chairman of the board of directors.
The company allegedly Providing returns in the range of 15-20% by investing in cryptocurrencies, stock market and foreign investment funds about people with the promise of 450 million lira collected money.
The company’s new customers paid for several months and growing its customer base in this way, then making payments cut off is reported.
In the operations carried out in 12 provinces, the suspects B.Ş. and Z.Ş., as well as the company’s representatives from Trabzon, Istanbul, Ankara, Izmir, Gaziantep, Kocaeli, Çorlu, and the company’s computer specialist, a game company owner, a construction company owner, a customer relations manager at a telephone operator company, and four special operations Police said he was taken into custody.
A judicial control request was made against 8 suspects on charges of qualified fraud. An arrest warrant was made for another 8 suspects, again on charges of fraudulent fraud.
The court found that the founder of the company, Z.Ş. and his daughter B.Ş., who is the chairman of the board of directors of the company, and sent him to Trabzon E Type Closed Prison.
Institutional activity in Korea’s cryptocurrency industry
To the news of local sources According to the teachers’ credit cooperative in South Korea, starting in the first half of next year, they will be switching to bitcoin-related products. plans to invest.
under his management 40 billion dollars worth of assets The Korean Teachers’ Credit UnionRather than investing directly in bitcoin, its plan is to invest in spot exchange-traded funds that track bitcoin price.
According to the transfer of local resources, the credit cooperative is increasingly “a more mainstream investment asset” wants to invest in cryptocurrencies because they have become
Pension funds, which generally invest in traditional products in South Korea, have not included cryptocurrencies in their portfolios until now. Teachers’ credit cooperative What size do you plan to invest? stated to be unknown.
Facebook whistleblower, crypto investor released
Former company employee Frances Haugen, who exposed Facebook’s internal memos and documents, to The New York Times In an interview, he announced that he is a cryptocurrency investor.
of Politico In last week’s news, Haugen’s From eBay founder, billionaire Pierre Omidyar It was reported that he received financial support.
Haugen, who left his job at Facebook in May and went to Puerto Rico, is one of the only nonprofits Omidyar supports. for travel and similar expenses received assistance, for the remaining expenses have their own financial resources told.
“I am well off for the near future because right time I bought crypto.” said Haugen, referring to Puerto Rico as “crypto [ekosisteminden] He stated that he was going to accompany his friends.
Puerto Rico stands out as a tax haven with its tax regime for capital gains.
Frances Haugen disclosed Facebook’s documents with files she transferred to the Wall Street Journal. According to the information contained in the documents, Facebook provides some of the services and products it offers to its users in terms of users. it is harmful (e.g. adversely affecting the mental health of young people) Although he knew, he did not take a step to fix these problems.
Identity joined earlier this month 60 Minutes Explaining in the program, Haugen that the interests of the public and Facebook “often conflict” and Facebook puts their own interests first (eg making money) suggests.