Saylor Continues Bitcoin Shopping Spree
Michael Saylor, the prominent corporate Bitcoin advocate, has once again been on a buying spree for the popular cryptocurrency. Despite the ongoing debate over whether this corporate exposure to crypto is a sound long-term financial move, Saylor remains steadfast in his belief in the potential of Bitcoin. With the current market downturn, he is capitalizing on what some see as irresistible bargain prices, while simultaneously driving up the stock prices of his company, MicroStrategy (MSTR). The question now is whether Saylor’s continued purchases will have any impact on the volatile prices of Bitcoin.
$3M Fee Refund Promises Good Faith
Recent headlines were dominated by the story of a clumsy crypto user who accidentally paid a huge transaction fee. The recipient mining pool has now pledged to refund this astronomical amount after verifying the user’s identity, emphasizing the high-stakes and dynamic nature of the crypto world. While blockchain transactions are typically immutable, the non-binding refund pledge is a show of good faith amid arguments that miners should take responsibility for benefiting from flawed code. The user involved has claimed to be a victim of a wallet hack, adding another layer of drama to the situation.
Understanding Blockchain: Immutability
The word of the day, “immutability,” is a key feature of blockchains that ensures that transactions recorded in the blockchain ledger cannot be altered after being confirmed. This means that once a transaction is verified and added to the blockchain, it is extremely difficult to edit or delete it, offering certainty and trust in its accuracy. The decentralized nature of blockchain networks prevents any single user or party from being able to modify recorded blocks, providing a tamperproof record of transactions.
Illuvium Secures Partnership with Team Liquid
In the blockchain gaming sector, Illuvium has managed to secure a partnership with top eSports group Team Liquid. This Web3 partnership will involve testing Illuvium’s battle features and esports viability, with the potential for a $100,000 tournament prize pool and NFT gear for Liquid fans. This collaboration represents a key step towards mainstream adoption as competitive gaming and crypto’s play-to-earn model converge.
SEBA Rebrands to Amina Bank for Global Expansion
Swiss cryptocurrency bank SEBA has rebranded as Amina Bank to support its international expansion. The new name reflects the bank’s ambition to blend traditional and virtual asset banking, with a focus on managing regulatory complexity across contrasting jurisdictions. The bank has been emboldened by early success abroad, but some analysts have raised concerns about the potential turbulence that could arise from its rapid growth.
Binance Offers Collateral Custody Pilot for Institutions
The leading crypto exchange, Binance, has introduced a new collateral custody pilot aimed at supporting cautious institutional crypto traders. This initiative allows partners to park their assets with vetted banks instead of the exchange itself, effectively easing counterparty risks and potentially boosting institutional capital in crypto.
Multi-Million Crypto Scammer Jailed
Finally, authorities have brought down a complex cryptocurrency fraud ring that relied on stolen identities and false documents to illegally obtain millions in crypto. The criminal mastermind behind the operation has been sentenced to over 5 years behind bars, along with millions in restitution and forfeiture orders. The fraud involved creating exchange accounts with stolen identity credentials and conducting large crypto purchases, followed by bank transaction reversals based on fraudulent claims.
That wraps up today’s top crypto and blockchain news. Stay tuned for more surprises in the ever-changing world of crypto, and don’t forget to subscribe to our newsletter for the latest updates!
I have been featured in numerous publications, both online and offline, and am a regular speaker at industry events. I am also the founder of Crypto University, an online educational platform that helps people learn about cryptocurrencies and blockchain technology. In addition to my writing and teaching career, I am also an active investor in the cryptocurrency space. I have made investments in some of the leading projects in the space, and my portfolio has outperformed the market by a wide margin