By Kapil Rajyaguru
Strategy Raising Another $2bn To Buy More Bitcoin.
MicroStrategy (MSTR), formerly MicroStrategy, is raising another $2 billion via 0% convertible notes. The underwriter’s greenshoe is for up to an additional $300 million of the paper, according to a press release.
The primary purpose of the raised funds is to acquire additional bitcoin (BTC). Led by Executive Chairman Michael Saylor, Strategy is the globe’s largest corporate holder of bitcoin, with 478,740 tokens worth more than $45 billion at current prices.
FTX Announces Next Repayment Round For May.
FTX has announced plans for upcoming repayments to creditors of the bankrupted crypto exchange after initiating its first round of reimbursements on Feb. 18.
According to a Feb. 18 announcement, the next repayment distribution will take place on May 30, 2025, for holders of allowed claims of “Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims.”
According to Sunil Kavuri, an FTX creditor and advocate, the round of repayments that will start in May will include claims for a value above $50,000. These creditors will need to choose a distribution agent by April 11, Kavuri added.
SEC Acknowledges Cboe’s Request To List 21Shares XRP ETF.
The US Securities and Exchange Commission (SEC) acknowledged Cboe BZX’s request to list asset manager 21Shares’ XRP exchange-traded fund (ETF), according to a Feb. 14 regulatory filing.
The acknowledgment is a sign of progress for US exchanges seeking to list ETFs containing spot XRP, the native token of Ripple’s XRP Ledger blockchain network.
It also highlights how the SEC is changing its stance on cryptocurrency as US President Donald Trump starts his second term.
Ether Reserves On Exchanges Hit 9-Year Low As Supply Shrinks.
Ether reserves across centralized exchanges hit an almost nine-year low, reinforcing investor optimism for a potential market bottom that may start a recovery toward the $3,000 psychological mark.
Diminishing Ether supply on exchanges may signal an incoming price rally driven by a “supply shock,” which occurs when strong buyer demand meets decreasing available ETH, leading to price appreciation.
Ether supply moving off exchanges is a “generally bullish” signal, according to Nicolai Sondergaard, research analyst at Nansen crypto intelligence platform.
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