Crypto weekly: Michael Saylor begins selling $216M in MicroStrategy stocks for more Bitcoin; Issuers have fixed three of the SEC’s remaining concerns for spot bitcoin ETFs.

January 8, 2024

Cryptocurrencies keep pushing boundaries, and each headline is a testament to the industry’s growth. Let us bring you up to speed with the most significant stories from the past week. Next week also promises to be full of events that may affect the overall market picture.

Review of the past week:

January 02, 2024	IRS rules require reporting data from $10k crypto transactions in 2024. Aspects of the infrastructure bill signed into law by United States President Joe Biden are now in effect — including provisions requiring many digital asset transactions worth more than $10,000 to be reported to the Internal Revenue Service. Read more
January 03, 2024	Michael Saylor begins selling $216M in MicroStrategy stocks for more Bitcoin. Saylor previously said the move would allow him to address his “personal obligations” and, of course, buy more Bitcoin. Read more
January 04, 2024	Issuers have fixed three of the SEC’s remaining concerns for spot bitcoin ETFs. The issues include which models to go with, naming authorized participants and hashing out how to manage hard forks and airdrops. Read more
January 04, 2024	Citi Alumni Plan Bitcoin Securities That Don’t Need SEC Approval. As speculation about the upcoming approval or denial of spot-Bitcoin ETFs reaches a fever pitch, a group of former Citigroup Inc. executives is starting to offer securities backed by the oldest cryptocurrency that they say don’t need the blessing of US regulators. Read more
January 06, 2024	Someone sent $1.2 million of bitcoin to the Genesis wallet mined by Satoshi Nakamoto. The Genesis wallet now has a balance of almost 100 bitcoin. Read more

What’s coming up for us this week:

January 11, 2024

Next release of U.S. Consumer Price Index.
December 2023 CPI data are scheduled to be released on January 11, 2024, at 01:30 P.M. UTC. Read more

As the crypto landscape evolves, so does the need for a reliable platform. At FYBIT, we provide the tools for your success. Don’t wait, trade with FYBIT.

Best regards,
FYBIT team

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