By Kapil Rajyaguru
Metaplanet Scoops Another $6.5 mn in Bitcoin, Doubling Down on Its October Spree.
On Friday, Tokyo-listed Metaplanet Inc., renowned for its aggressive Bitcoin (BTC) investments, announced the acquisition of 108.999 Bitcoin valued ¥1 billion ($6.5 million).
The company’s new acquisition boosts its Bitcoin holdings to 748.502 BTC, confirming its long-term investment in the top currency. Metaplanet’s Bitcoin acquisition strategy extends beyond spot purchases.
Dubai’s VARA Fines, Issues Cease-and-Desist Orders Against 7 Crypto Entities.
Virtual Assets Regulatory Authority (VARA), one of Dubai’s crypto sector regulators, punished seven “entities” for operating without licenses and marketing violations. Wednesday saw the regulator issue cease-and-desist orders to the firms.
VARA said it is examining the entities alongside local authorities but did not identify them. Fines vary from 50,000 to 100,000 dirhams.
Stripe’s New Stablecoin Option Gains Traction In 70 Countries On Day 1.
A prominent payments company, Stripe, had consumers from 70 countries select their stablecoin payment option on its first day, demonstrating worldwide desire for alternative payment methods.
Stripe was the first major payment company to integrate Bitcoin in 2014. In 2018, the corporation reversed their Bitcoin payment choice due to long confirmation times and expensive costs.
FTX User Sues Hedge Fund Over Bankruptcy Profits.
An FTX user, Nikolas Gierczyk, is suing hedge fund Olympus Peak for more compensation after selling his $1.59 million claim from FTX’s bankruptcy at a 42% discount, receiving $930,000. Gierczyk alleges the hedge fund violated their agreement, as FTX’s restructuring could potentially pay customers 129% to 146% of their claims. He argues Olympus Peak stands to make over $1 million from the deal.
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