Enlarged Stock Offering for STRC Valued at $2.52 Billion
In a significant move, Strategy, a leading corporate player in Bitcoin investments, has announced an upscaling of its STRC stock offering from $500 million to a staggering $2.52 billion. This decision was initiated by the company itself, with Dr. John Maraganore currently serving as the chairman.
The increased issuance is in support of Strategy's ongoing cryptocurrency acquisition strategy. Industry observers expect notable market shifts post-acquisition, as the funds raised from the IPO will be used for general corporate purposes, including the purchase of Bitcoin.
The potential increase in Bitcoin's circulating supply controlled by Strategy is an immediate implication of the upscaled offering. The impact on Bitcoin price dynamics will depend on the scale and timing of acquisitions.
Meanwhile, in other financial news, the Federal Reserve has held its interest rate steady at 0.50%, while predicting a gradual rate decline amid inflation concerns. Fed's Williams has made this forecast.
Elsewhere, the U.S. jobless claims have plummeted, but the potential impact on crypto markets remains unclear.
In the world of cryptocurrency, a record 92 ETF filings have been made in the U.S., with the industry awaiting the SEC's decision. The Grayscale CoinDesk Crypto 5 ETF has debuted post-SEC approval.
Other notable happenings include Binance Alpha's MRLN airdrop for its users, starting from September 16, and the Binance Alpha MAIGA token launch, requiring 200 points on Sep 17.
Coinbase has introduced on-chain DeFi lending with Morpho integration, while LET Mining aims to make crypto investing simple and efficient.
In the realm of decentralized finance (DeFi), John Kojo Kumi, a cryptocurrency researcher and writer, provides in-depth coverage of DeFi, NFTs, and Web3 innovations.
The RCMP has conducted a record $56 million cryptocurrency seizure in Canada, and Nomura has altered its Fed rate cut prediction for 2025.
Hong Kong has set new guidelines for virtual asset accounting, and the Bank of Japan has kept its interest rate at 0.50%.
Metaplanet is seeking new funding amid a stock decline, and Whale address has staked over $60M in Solana.
Seoul Protocol has upgraded to strengthen institutional security on Tezos and enable 63x network efficiency gains. The Ethereum Foundation has moved 4,000 ETH from a dormant wallet.
Galaxy Digital has moved 935,000 SOL to Coinbase, and Hyperliquid has surged in 24-hour revenue, outpacing key competitors.
Lastly, Bullish Europe has secured a German crypto license for EU expansion, and the Federal Reserve has highlighted stablecoins amid the passage of the GENIUS Act.
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