Coin Informer is back by compiling a detailed blog post that discusses the top crypto news of this week in a concise and easy way. In this fast-paced world, we hardly get time to read recent crypto news on weekdays. Thus, keep yourself informed of the crypto world’s dramas, scandals, and news by reading our weekly crypto news article.
Without further ado, let’s unravel the top crypto news that became the talk of the town.
MicroStrategy Exceeds $8 Billion Worth of Bitcoin with Last Purchases: Top Crypto News of this Week
Wednesday, December 27, 2023
According to a filing with the US Securities & Exchange Commission, Saylor (the chairman of MicroStrategy) started buying the bitcoin in 2020 to hold cash on the company’s balance sheet. Now, with the latest purchase of 14,620 Bitcoin (worth $42 110) in cash, the total holdings of Bitcoin by MicroStrategy pass the mark of $8 billion. This $8 billion has led to a surge in MicroStrategy’s shares by 300% this year, even outperforming Bitcoin’s.
In an interview on Bloomberg TV, Saylor (the co-founder & chairman of MicroStrategy) said,
“An exchange-traded fund physically backed by Bitcoin is not a threat to MicroStrategy since its stock is a leveraged bet with no fees. The company has tapped into debt financing and share sales to fund its Bitcoin purchases.”
On Wednesday, when this news caught the public’s attention, MicroStrategy’s shares witnessed a significant rise, and so did Bitcoin’s price, with an increase of 1.5%.
Is the SEC Going to Approve Spot Bitcoin ETF on December 29? Why Berry Silbert Stepped Down as Grayscale Chairman: Top Crypto News of this Week
Monday, December 25, 2023 – Tuesday, December 26, 2023
According to Business journalist Eleanor Terrett’s tweets on X, the SEC’s approval of a spot Bitcoin exchange-traded fund is very near, with a high possibility of getting approved by December 29, 2023. The news came after the series of meetings held last week between SEC and other handful companies such as ASRK Investments, 21Shares, BlackRock, and Grayscale Investments.
If we talk of recent updates, speculation is that the SEC will make a final decision by January 10, 2024. Moreover, as per Wall Street’s top sources, the final amendments will be completed by December 29. It means the highly anticipated decision of spot-Bitcoin approval is very near.
Talking of spot-Bitcoin approval, one more piece of news became the talk of the town, but it is not related to SEC; it involves Grayscale Chairman Barry Silbert at the center. In the filing of SEC on Tuesday, Berry Silbert (Chairman of the board of Grayscale Investments) will step down from his position by January 1. Alongside him, another board member, Mark Murphy, will also be stepping down.
The current CFO of DCG (Grayscale’s Parent Company) will replace Silbert as chairman of Grayscale Investments’ chairman. The sudden resignation of Barrel amid the speculations of spot Bitcoin approval by the SEC isn’t going right. Many crypto analysts are doubting Silbert’s departure as a way for Grayscale’s ETF Bitcoin to get approval. The exact reason is unknown. All we can do as a crypto community is wait and watch.
Ethereum’s Comeback, even ‘Stronger than 90s Trend’: Top Crypto News of this Week
Thursday, December 28, 2023
If not the whole year, at least at the end of the year, Ethereum is making a strong comeback. As of December 28, Ethereum is trading at $2,433, surpassing $2,334 (a crucial rising level). If it is analyzed properly, ETH is making a head and shoulder formation pattern. According to crypto analysts, ETH still has a high chance of breaching a new peak, hopefully to $3,000 in the first week of 2024. Don’t know about others, but we’re very sure, the start of 2024 will be really good for Ethereum.
Hackers Stole Around 2 billion Dollars’ Worth of Crypto in 2023, Lowest Since 2020 (Official Data Confirms): Top Crypto News of this Week.
Tuesday, December 26, 2023
According to De. Fi REKT Database, hackers stole approximately 2 billion dollars through several cyberattacks and thefts. The largest crypto robbery was done against Mixin Network this year, where hackers stole around $200 million. The other crypto platforms that faced major hacks include,
- Multichain ($126 million)
- BonqDAO ($120 million)
- Poloniex ($114 million)
- Atomic Wallet ($100 million)
The $2 billion worth of stolen crypto is such a big number, but the thing that’s so crazy is this is the lowest number since 2020. Yes, you heard it right. The LOWEST number.
This year has been far better than previous years when hackers stole $3.8 billion in 2022 and $3.3 billion in 2021.
Let’s see how these numbers will be in 2024.
Stay Tuned!
So, that’s a wrap for this week’s top crypto news. Coin Informer, your ultimate provider of recent crypto world updates and news, takes responsibility for keeping you informed of all recent crypto news. Make sure to read next week’s news article, too, as it’ll be the first weekly crypto news article of 2024. Have a great weekend and a happy New Year ahead!
