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 ...

Gemini wrote to a federal judge asking the bankruptcy court to invalidate any claims Genesis has to a trove of Grayscale Bitcoin Trust (GBTC) shares in an ongoing dispute between both the two crypto entities. The lawsuit filed on Oct. 27 seeks ownership over some 60 million GTBC shares offered as collateral by Genesis Global, a now-defunct crypto lender under the Digital Currency Group (DCB) umbrella and Gemini’s former partner for its Earn program. Gemini said the GBTC shares worth $1.6 billion “would completely secure and satisfy the claims of every single Earn User”, around 340.000 users left stranded since Genesis froze withdrawals in late 2022. The complaint comes amid Genesis’ bankruptcy proceedings and Gemini noted that the beleaguered crypto lender might repay its creditors with assets rightly belonging to Earn customers. Genesis and Gemini remain locked in a legal wrestling match following FTX’s implosion. Several marquee crypto entities fell into insolvency around th...

Cathie Wood is taking profits from ARK Invest’s Coinbase holdings by selling a small portion of its stash. Pro-Bitcoin (BTC) Investment veteran Cathie Wood is taking some profits from ARK Invest’s large Coinbase holdings by selling a small portion of its stash. On July 11, Wood’s investment firm ARK offloaded 135,152 Coinbase shares ($12 million) from one of its major exchange-traded funds, the ARK Innovation ETF. According to the trade notification seen by Cointelegraph, the amount that was sold made up 0.14% of the fund’s total holdings. The sale comes as the Coinbase stock price has sharply increased. On July 11, the price briefly surpassed $90, surging from around $82 to as high as $90.9, according to data from TradingView. Following Wood’s sale, the stock closed at $89 on Tuesday. According to TradingView data, Coinbase stock is up more than 60% over the past month, while the year-to-date increase is more than 140%. Coinbase 7-day price chart. Source: TradingView The new sale b...