In this week’s roundup: Binance founder Changpeng Zhao is set for release, former President Donald Trump launches a new crypto venture, Token2049 wraps up in Singapore, and MicroStrategy adds to its Bitcoin holdings. Here’s a closer look at the top stories:
Changpeng Zhao’s Release Date Announced
Changpeng Zhao, the founder of Binance, is scheduled to be released from prison on September 29, according to the U.S. Federal Bureau of Prisons. Zhao, along with Binance, had previously pleaded guilty to violations of anti-money laundering (AML) regulations. He began serving a four-month sentence in June this year.
Trump and Sons Launch Crypto Venture
Donald Trump, the 45th President of the United States, has officially introduced his new crypto venture, World Liberty Financial (WLFI). The initiative, driven by Trump and his sons Eric and Don Jr., seeks to challenge traditional banking systems. WLFI will release its own token, which will be available exclusively to accredited investors.
Token2049 Concludes with Key Insights
Token2049, a major cryptocurrency conference held in Singapore from September 18-19, featured notable discussions on the future of the crypto industry. Ethereum co-founder Vitalik Buterin and Circle CEO Jeremy Allaire were among the speakers, emphasizing the need for broader real-world applications of cryptocurrency and less focus on NFTs. BitMEX founder Arthur Hayes suggested that recent interest rate cuts by the Federal Reserve might lead to a short-term market dip. OKX founder Star Xu highlighted the critical role of self-custody in the crypto space.
Iggy Azalea Criticizes Token2049 Attendees
Rapper Iggy Azalea recently hosted a crypto-themed party in Las Vegas to promote her new meme coin, MOTHER, and her casino, Motherland. The event drew some criticism from crypto enthusiasts, particularly in light of the Token2049 conference. Azalea responded by mockingly addressing attendees of Token2049, including Ethereum creator Vitalik Buterin, who performed at the conference.
Market Reacts to Federal Reserve Rate Cut
On September 18, the Federal Reserve announced its first interest rate cut since the onset of the COVID-19 pandemic, reducing rates by 0.50%. This decision led to a rebound in the crypto market, with Bitcoin surpassing $64,000 for the first time this month. Despite the positive short-term impact, some analysts caution that the rate cut could pose risks to the market.
MicroStrategy Expands Bitcoin Holdings
MicroStrategy, a software development company, completed a $1.01 billion convertible note offering last week. The company used the proceeds to acquire 7,420 Bitcoin, valued at $458 million, increasing its total Bitcoin holdings to 252,220 tokens.
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