Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 28th Dec 🚨 🟠 MicroStrategy grows Bitcoin Reserves By 14K BTC 🔵 Grayscale Investments board resignations 🥶 Crypto Users Lost $2B 🟦China Web3 Accelerator

28th December: Crypto & Coffee at 8
🟠 MicroStrategy grows Bitcoin Reserves By 14K BTC 🔵 Grayscale Investments board resignations 🥶 Crypto Users Lost $2B 🟦China Web3 Accelerator

🧡 MicroStrategy has added to its Bitcoin holdings with a substantial purchase of 14,620 Bitcoin, totalling $615.7 million. This move comes as the company’s stock experiences a remarkable 337% surge in 2023, making it one of the top gainers among US companies valued at $5 billion or more, as reported by CNBC here https://lnkd.in/d76Hhch2

- MicroStrategy’s stock has soared 337% in 2023, outpacing almost all U.S. companies valued at $5 billion or more.
- The growth has been fueled by the company’s bitcoin holdings, which the company started accumulating in 2020.
- The vast majority of MicroStrategy’s value now comes from Bitcoin, though it still has a software business.

❗ Grayscale Investments experiences a series of board resignations amid its pursuit of a Bitcoin ETF.
🚨 In a formal 8-K filing submitted to the U.S. Securities and Exchange Commission Commission on December 26, Grayscale disclosed the departure of Barry Silbert, the founder and CEO of Digital Currency Group (DCG), Grayscale’s parent company. Mark Murphy, serving as the president of DCG, has also submitted his resignation from Grayscale’s board. The effective date for both resignations is set for January 1, 2024. To fill the vacancies, the board will welcome incoming members Mark Shifke, Matt Kummell, and Edward McGee. More info via Finance Magnates here https://lnkd.in/dtzcyi9F

🔥 Grayscale, being one of the 14 firms that have applied for a Bitcoin Exchange Traded Fund (ETF) spot, has actively engaged in discussions with the Securities and Exchange Commission (SEC) regarding its Grayscale Bitcoin Trust. The investment firm has emerged as one of the largest players in the cryptocurrency industry, recently winning a lawsuit against the SEC in August 2023 related to the Bitcoin ETF review.

🔴 DEFI in 2023
- In 2023, cryptocurrency enthusiasts experienced losses totalling $2 billion due to hacks, scams, and exploits, as reported by DeFi. This amount represents a notable decrease compared to the estimated $4.2 billion reported in 2022. It’s worth noting that the previous year also saw significant losses, with $40 billion attributed to the collapse of Terra, Celsius, and FTX. The reduction is largely attributed to improved security protocols, the industry remains susceptible to security risks. More info via CoinDesk here https://lnkd.in/dNu5zYzu

🎙️ Check out Blockchain DXB’s Crypto & Coffee at 8 we share our commentary on this. We also Chinese Web3 VC to launch $10B accelerator fund

🟠 Two UAE news (See slides)
⚡ Scienjoy Verse Tech Ltd: Pioneering the future of the metaverse from Dubai
⚡ The transformative potential of AI to be addressed at Medlab Middle East by Beelal

For slides click here: http://tinyurl.com/3ch7zjcj 

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