MicroStrategy just announced a share dilution plan that could become the craziest capital raise of the 21st century.
On Monday, MSTR was added to the tech-heavy Nasdaq 100 index, and after the close, the firm filed a public investor disclosure with the Securities and Exchange Commission (SEC) to accelerate its 21/21 Plan, a strategic initiative that aims to raise $42B for the purchase of BTC.
Shareholders will be asked to increase the amount of authorized MSTR common stock for sale to 10.33B shares, worth $3.5T at the time of this analysis. Additionally, the revised plan seeks to increase authorized preferred shares to 1.005B and approve automatic equity awards for new members who join the Board.
2️⃣ Turkey’s Crypto Crackdown
The nation of Turkey is set to introduce stricter anti-money laundering regulations in the new year that will require users executing transactions worth more than 15,000 Turkish lira ($425) to share identifying information with the country’s crypto service providers.
If crypto service providers are unable to collect required information, transfers could be assigned a “risky” designation, which may result in a transaction freeze or prompt the termination of a transaction sender’s exchange accounts.
3️⃣ Moo Deng Donation
Ethereum co-founder Vitalik Buterin will donate 10M Thai Bhat – worth approximately $292k or 88 ETH – to 'adopt' viral hippo sensation Moo Deng for the next two years. The donation will support operations at the Khao Kheow Open Zoo, fund its Wildlife Sponsorship program, and assist in the development of a dedicated exhibit for Moo Deng and her family.
Earlier this October, Buterin swapped $180k worth of MOODENG memecoins that his address received for ETH and sent the proceeds to biotech charity Kanro as part of a $15M grant.
4️⃣ Usual Investment
Binance Labs and Kraken Ventures have joined forces to lead a star-studded $10M Series A raise for stablecoin issuer Usual. USUAL gained 33% during Monday trading on the announcement, and as of December 25, the cryptocurrency can be pledged via Binance for flexible crypto-collateralized loans.
The Usual protocol debuted this July and has accumulated nearly $1.7B in deposits since launch; its governance token is distributed as staking rewards for the USD0++ stablecoin was offered to Binance users who participated in a mid-November launchpool.
5️⃣ Russian Sanctions Evasion
In an interview with Russia 24 TV, Russian Finance Minister Anton Siluanov confirmed that its companies are now using bitcoin as a tool to evade Western sanctions in global trade.
Under recently approved legislation that came into effect this September, the Kremlin implemented an experimental framework for cryptocurrency miners. It also approved the limited usage of digital assets in payments for non-domestic, international contexts.
Russian President Vladimir Putin has been a staunch advocate for de-dollarization and openly called for an alternative to the Western-controlled SWIFT payment system at BRICS 2024 Summit. Although slow and expensive, the Bitcoin network’s globally decentralized miner set is impervious to censorship, making it a suitable payment medium for sanctioned Russian groups and individuals.
FRIEND & SPONSOR: CARTESI
Want to make an impact? Apply for a grant! The Cartesi Grants Program Wave 2 is accepting proposals over the next 6 months, with a funding budget of $500,000 in CTSI to support builders. Not a dev but know talented devs? Refer them to the program and become eligible for a DevDrop reward!
Our very own David Hoffman does a quick recap of the week and then a more in-depth recap of 2024, a transformative year for crypto!
Highlights include Bitcoin surpassing $100,000, the approval of spot Bitcoin and Ethereum ETFs, and Donald Trump’s embrace of crypto as the “Crypto President.” The episode also explores the memecoin boom, the impact of regulatory changes, and key market shifts that shaped the ecosystem. Join us for a reflective journey through a landmark year as we gear up for 2025!
Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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