MicroStrategy's $700M Bond, Trump's Token Launch, and DBS Bank’s BTC Options: News of September 17, 2024
MicroStrategy to Issue $700M Bond for Bitcoin
MicroStrategy, the Virginia-based software giant, has revealed plans to issue a $700 million convertible bond to bolster its Bitcoin reserves and manage existing debt. Aiming at institutional buyers, the bond will mature in 2028. The proceeds will be used to redeem $500 million in debt and purchase more BTC, further solidifying the company's position as a Bitcoin whale.
#UXLINK Surges +44% After Binance Futures Listing
UXLINK has seen a sharp 44% price increase following its mention in reaction to a Binance Futures listing, according to #CAreport. The news has created a buzz, as traders flock to take advantage of the sudden price movement.
Trump Family Launches World Liberty Financial, Public Token Sale
World Liberty Financial has officially launched the $WLFI token, a non-transferable governance token with a unique tokenomics model. The distribution includes 63% for a public sale, 17% allocated for user rewards, and 20% for team compensation. The Trump family's involvement in this project adds significant attention, especially with the upcoming public sale.
Singapore's DBS Bank to Offer Bitcoin & Ethereum Options
DBS Bank, Singapore's largest financial institution, is gearing up to offer Bitcoin (BTC) and Ethereum (ETH) trading options to its customers. This monumental step by DBS strengthens crypto adoption in Asia, signaling broader acceptance of digital assets in the region. With one of the biggest banks backing crypto options trading, more people are expected to enter the market, driving both liquidity and legitimacy.
Binance's CZ to Be Released on September 29
Changpeng Zhao (CZ), the founder of Binance, is set to be released from federal custody on September 29 after serving time for violating the Bank Secrecy Act. CZ, who has agreed to a $50 million fine and stepped down as Binance’s CEO, spent three months in a halfway house and will soon complete his sentence. Richard Teng is set to lead Binance, marking a new chapter for the exchange, which also settled additional charges for $4.3 million.
Toncoin (TON) Faces Death Cross, Risk of 19% Drop
Toncoin (TON) is experiencing a bearish trend after forming a “death cross” on its daily chart, with the price slipping by 6% to $5.51. Despite the downturn, some market participants remain optimistic, continuing to buy TON in hopes of a rebound. However, analysts warn that the token could still see another 19% drop unless there’s a significant change in market sentiment.