Author: Coindesk

Bernstein initiated coverage of the Tysons Corner, Virginia-based company with a $2,890 price target. The shares closed at around $1,484 on Thursday. The Nasdaq-listed firm currently holds 214,400 bitcoin. It began buying the cryptocurrency in 2020, adopting it as a reserve asset. Read the full article here

Speaking to the Texas Senate Business and Commerce Committee Wednesday, Pablo Vegas, the CEO of the Electric Reliability Council of Texas (ERCOT), which manages the state’s power grid, said that demand from these two industries is testing the grid forcing officials to revise estimates for how much energy it will need to produce by the end of the next decade. Read the full article here

The notes will be unsecured, senior obligations of MicroStrategy, and interest will be paid semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. The offering is subject to market conditions, and there is no guarantee about when or on what terms it may be completed. Subject to certain conditions, the company may redeem for cash all or a portion of the notes on or after June 20, 2029. Read the full article here

“Within that drafting slot, there are various reforms and each has a different priority to the payments reforms, which would include our proposed framework for regulating stablecoins sit within that same slot, and they’ll be sort of done one after the other. Given that overlap, reps (representatives) are hoping that both of them will be released at the same time.” Read the full article here

“Film.io is a decentralized community that filmmakers can build around their own film project and really choose their own path,” said Hertz in an interview. “They can seek funding, distribution, as well as assistance from the community in developing their project, whether it’s improving the idea or even getting assets recreated, like movie posters or things like that, doing it In a decentralized way.” Read the full article here

I started drafting my talk, explaining how money powers incentives and therefore powers how world-changing innovation enters the world. When government funding for research took off in the 1950s, it led to breakthroughs in science, medicine and technology. Similarly, the growth of venture capital over the past few decades, led to the acceleration of startups and innovative companies. My argument: crypto is powering a bottoms-up scalable way of distributing funding into areas that need it most. At least, this is the hope. However, trying to find mainstream, tangible examples has been few and far between. Read the full article here

Anchorage Digital is the only crypto bank currently chartered by the Office of the Comptroller of the Currency (OCC). Other institutions, including Paxos and Protego, have attempted to receive a full charter from the OCC but have failed to move past the provisional charter hurdle. With the boom of institutional interest in crypto spurred by the approval of spot Bitcoin exchange-traded funds (ETFs), Anchorage Digital’s business is growing, a company spokesperson said. Read the full article here

Spot bitcoin (BTC) exchange-traded funds (ETFs) have led the way, attracting $16 billion of net inflows, the report said. This number, when combined with Chicago Mercantile Exchange (CME) futures flows plus capital raised by crypto venture capital funds, increases the total inflow into digital asset markets this year to $25 billion. Read the full article here

A U.S. District Court judge has agreed to a settlement between the Securities and Exchange Commission (SEC), Terraform Labs and its former CEO, Do Kwon, which would have them pay billions in penalties as well as virtually ban them from the crypto industry, according to the court filings. Read the full article here

“On June 9th at 21:24 UTC, @DaddyTateCTO sent 40% of the $DADDY supply to @Cobratate,” BubbleMaps posted. @Cobratate is Tate’s official X account. “But here’s the catch: 11 wallets, funded through Binance with nearly identical amounts at the same time, bought 20% of $DADDY on June 9th, before @DaddyTateCTO’s first tweet.” Read the full article here