Michael Saylor’s MicroStrategy Acquires More Bitcoin, Holds 152,333 BTC [ Crypto Espresso 6.29.23 ]

It's Thursday and it's also National Work from home day and let me tell you Getting my butt into the recording Studio is a grueling for our commute Uphill both ways but at least I get my Exercise in running from those rabid Wolves anyway I'm your tasty but kind of Stringy host Andrew and this is crypto Espresso your teeny tiny daily shot of Caffeinated crypto headlines and here we Go first up FTX CEO John J Ray III is Reportedly in the process of Reviving The bankrupt cryptocurrency exchange According to the Wall Street Journal the Company has begun the process of Soliciting interested parties to the Reboot of the ftx.com exchange potential Investors have been approached in a Possible joint venture arrangement to Support the Revival of the Global Exchangeftx.com Sources told the Wall Street Journal that previous clients may Be given a part in the newly created Exchange as payment for their claims the Former cryptocurrency exchange would Likely Rebrand as part of its relaunch And according to coin market cap ftx's Native token ftt gained over 38 percent After the news hit the prospect of an FTX Revival was originally mentioned by The company's CEO in January of this Year according to a court document filed In May Ray investigated the processes Necessary to relaunch the business while

Also revising and completing the FTX 2.0 Papers that would be provided to Investors FTX will file its Restructuring plans in Q3 2023 and any Decision regarding the future of any Relaunch plans is expected to be Received by the summer of 2024. Arc Investment Management has filed an Amended spot Bitcoin ETF application With the SEC the application now Includes a surveillance sharing Agreement with the Chicago Mercantile Exchange or CME Futures markets and a Crypto exchange with this change Arc now Has an advantage over other applicants To launch the first spot Bitcoin ETF in The U.S Kathy Woods investment firm and European asset manager 21 shares have Both filed for a spot Bitcoin ETF but Their previous applications were denied In 2021 and 2022 Mark's request is Believed to be the front runner for a Bitcoin ETF as its next SEC decision Date is August 13 2023 while there is no Date yet for the other 19b4 applications Like the one from BlackRock even with Approval Arc must still choose a Cryptocurrency exchange to sign a Surveillance sharing contract with Although coinbase might be a strong Choice it has already collaborated with BlackRock to serve as a Bitcoin Custodian should approval be given other Financial investment firms such as

Valkyrie Wisdom Tree and Invesco have Also refiled and Fidelity is reportedly Preparing to refile for a spot Bitcoin ETF also microstrategy has purchased an Additional 12 333 Bitcoin for 347 Million dollars between April 29th and June 27th making it the largest Bitcoin Purchase so far the company now holds a Total of 152 333 digital coins worth 4.5 Billion dollars this is approximately 0.726 percent of the total available Supply of 21 million Bitcoin Microstrategy which offers cloud-based Services mobile software and business Intelligence possesses the most Bitcoin Than any other publicly traded Corporation its co-founder Michael Saylor has previously said that the Reason for buying Bitcoin was as a hedge Against inflation the average purchase Price of the Bitcoin it holds stands at Approximately twenty nine thousand six Hundred and sixty eight dollars per coin Despite bitcoin's plunge from its All-time nice high of 69 000 in November Of 2021 microstrategy stock is up more Than 162 since its initial Bitcoin Purchase back in 2020. microstrategy's Most recent purchase of Bitcoin confirms The company's confidence in the Long-term viability of the digital asset The company is currently working on an Enterprise lightning solution to help Companies move money quickly the team

That once worked with Sam bankman freed On the books for ftx.us completed the Attestation of troubled stablecoin true Usd's proof of reserves according to Coindesk the digital Asset Division of Account from armanino which stopped Performing crypto audits last year Started the Network firm armanino did Not give an opinion for the audit on the Internal controls over accounting and Financial reporting of FTX us or FTX Trading in 2021 armanino's quality Control procedures were found to be Lacking in 2019 by the public Company Accounting oversight board the company Came under Fire for its audit of Lottery.com which overstated its cash Balance by 30 million dollars and Incorrectly recognized Revenue leading To armanino's resignation in September Before a class action lawsuit was filed Against lottery.com's Executives Executives at archblock which supports The true USD stablecoin have previously Endorsed the armanino team and said they Would continue to use the Network firm Trueusd has twenty six thousand dollars In money at U.S depository institutions According to a recent attestation by the Network firm although it did not name Which ones trueusd is currently trying To boost confidence in its stablecoin Which has depegged as it emphasized that Its exposure to Prime trust is limited

And finally tether a stablecoin issuer Has signed a memorandum of understanding Or mou with the government of Georgia to Develop Bitcoin and peer-to-peer Infrastructure in the country the Collaboration intends to support the Development of peer-to-peer technology At the state level and assist in the Creation of financial instruments around It education on bitcoin and blockchain Technology the creation of payment Infrastructure for businesses and the Creation of a robust open-end private Peer-to-peer communication system are Some of the most important development Areas Georgia will also establish a Dedicated fund for local entrepreneurs To support the development of blockchain Technologies the cooperation seeks to Transform government operations and the Commercial sector while bringing Attention and investment from around the World to the emerging decentralized Space tether stated that the Collaboration with the Georgian Government will also consider developing And putting in place a robust Independent Banking and communication System in order to do this it is Necessary to promote the adoption of Peer-to-peer technology-based digital Payment and communication systems Additionally the current infrastructure Must be improved in order to assure its

Reliability and resilience in supporting Blockchain-based Solutions and here's Some robust infrastructure for you it's An engagement Spiel like this video Subscribe to our YouTube channel and Click on that little bell icon to get Buzzed whenever a new crypto espresso Video goes live thoughts on today's Episode well just drop me a line in that Comment section below because I read Them and it keeps me up at night every Night it's pain torture I close my eyes Without seeing them seeing those Comments questions about our headlines Or crypto in general take that plunge And ask Alex in the description below Alex is always a great resource for all Things web 3 and the metaverse and that About does it for today as always I've Been your host Andrew these have been Your headlines and we'll see all of your Beautiful shining faces tomorrow