NFT News by Thebittimes.Com

Michael Saylor, MicroStrategy’s Executive Chairman, has initiated a four-month plan to sell $216 million of his MicroStrategy shares , previously stating his intention to use part of the proceeds to buy additional Bitcoin (BTC). Saylor revealed in a Jan. 2 filing with the U.S. Securities and Exchange Commission that he began selling his 315,000 stock options, awarded in April 2014, which are due to expire by Apr. 30, 2024. Per the filing, Saylor commenced the selling process on Jan. 2, beginning with the first set of 5,000 shares . During MicroStrategy’s third-quarter earnings call on Nov. 2, Saylor announced his strategy to sell approximately 5,000 shares daily over the next four months. This plan is contingent on the shares meeting a predetermined minimum price. In the company’s 10-Q filing on Nov. 1, he had previously declared that he was authorized to sell up to 400,000 shares from his vested options by Apr. 26. Saylor’s decision to sell part of his ...

The company considered selling Changpeng Zhao’s shares to continue with growth plans but decided to lay off one-third of its staff instead. Binance US was weighing selling shares controlled by Binance co-founder Changpeng Zhao (CZ) to stick to the company’s growth plans, The Block has learned, citing sources familiar with the matter. During an all-hands meeting, the firm’s staff was report edly presented with a presentation describing three options for what to do next. The first option was to continue the work as planned. Still, it would require CZ to “resolve” his issues with US regulators, put his shares in Binance US into a blind trust (a trust established by the owner giving another party full control of the trust), or sell them entirely. The second one described a scenario where the firm would have to slow down its burn rate while keeping investing in the platform even despite the bear market, the report notes. The third option was to go into ...

Steering away from the FTX contagion, Bitcoin [BTC] was making its way onto $17K. After residing in the bearish arena for quite some time, BTC managed to figure its way out. The asset even hit a low of $15,599.05 stirring panic among investors. However, bringing back some hope into the market the king coin revised it’s two-week high earlier today. Source As seen in the above chart, the sudden spike took Bitcoin from a low of $16,366.66, all the way to a high of $17,021.67. At press time, however, the asset encountered a slight correction which pushed BTC to $16,899. The asset’s daily price gain was at 2.54 percent. Out of all its investors, Bitcoin miner s were expected to be the ones at relief. The BTC mining industry took a major hit as the king coin continued to plummet. Amidst this, the latest surge was expected to be beneficial to these miner s. Despite this surge, the hash rate of the Bitcoin network continued to plummet. It was further brought to light that...

Source: Svetoslav Radkov/Adobe A criminal court in Argentina’s Córdoba has jailed two men – a businessman and a surgeon – for their part in developing a pyramid scheme based on selling fake tokens they claim were “affiliated” with the OneCoin crypto scam. Clarin reported that the court sentenced the 33-year-old Adolfo Rodrigo Domínguez to three years and six months behind bars. Another man, Aldo Javier Leguizamón (53), was given a term of four years and three months at the same trial. The court heard that the duo was “part of an illicit association” that “carried out scams” that involved selling OneCoin tokens, as well as Zeven Coin. However, the duo also made use of several other fake tokens they claimed could be swapped for OneCoin holdings. Many of these coins “were not actually ‘real,’” the court heard. In fact, they were “part of a ruse” that the two ...