On June 14, the Vietnamese National Assembly decided it was time to recognize digital assets as legal virtual assets under the Civil Code. So, cryptocurrencies like Bitcoin and Ethereum can now strut their stuff for investment and exchange. Finally, some legal clarity for investors and businesses! 🎊
And who are the unfortunate souls in this tragic comedy? Behold the list of the affected pairs: ALCX/USDT, ALCX/USD, NULS/USDT, NULS/USD, MDT/USDT, MDT/USD, BORA/USDT, BORA/USD, CTXC/USDT, CTXC/USD, XNO/USDT, XNO/USD, VENOM/USDT, VENOM/USD, RADAR/USDT, RADAR/USD. Quite the motley crew, n’est-ce pas? 🎭
The decision was based on the exchange’s periodic review of listing standards. Moreover, it has sent most tokens into a free fall. NULS (NULS) saw the largest double-digit decline, while Nano (XNO) bucked the trend.
This grand stash of 10,000 BTC, which took but one year and two months to amass, hath cost the firm a pretty penny: $947 million, to be exact. Yet, its value now exceeds $1.06 billion, yielding an unrealized profit of $120 million 🤑
On June 16, the illustrious Swedish company made the announcement to the world—no doubt amidst a cloud of confetti—that they’d signed an investment agreement with none other than Adam Back himself. The deal? A humble loan guarantee of 150 million SEK (that’s $15.82 million in case you’re wondering), earmarked for the purchase of Bitcoin. Not quite sure how the whole “long-term strategy” thing will pan out, but who’s counting when you have Bitcoin, right?
Oh, but don’t go thinking this is their first rodeo. Just last month, they raised a tidy sum of 21 million SEK ($2.2 million) through some zero-interest convertible loans. Adam Back chipped in a casual $1.4 million, with a smattering of smaller contributions from other investment outfits. Lovely, really, that the folks at Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners are all on the same page, betting on the future of Bitcoin… which, let’s face it, could either be brilliant or a colossal disaster.
And how much did this cost them, you ask? Only ¥16.883 billion (or $117 million for those of you not speaking yen). It’s like they found a treasure chest of Bitcoin and just couldn’t resist scooping it all up. 🏴☠️💎
And so, the tech scene of Dubai, already glittering with the splendor of over 3,200 tech companies and more than 650 blockchain/Web3 enterprises, is graced by the addition of this new digital titan. What a delightful cocktail of innovation and wealth! 🍸
The $2.20 price point has long been a stone in XRP’s shoe, with every time it attempts to scale this height, market bears seem to unite in a collective bout of hysteria, sending it plummeting right back down. But this time, things are different—sort of. The Relative Strength Index (RSI) has moved away from the depths of despair and is now sitting comfortably at 47. Could it be that the days of relentless overselling are behind us? Only time will tell.
Back has signed up for an initial 150 million-krona tranche, cheekily dubbed Tranche 6, of a convertible loan. He also retains the right to partake in two subsequent tranches, each currently set at 75 million kronor, though the company is keen to inflate that amount if the market plays nice.
But wait! This isn’t just random chaos—it’s more like a well-thought-out “reboot” that the crypto world occasionally needs, like refreshing your browser when it freezes (though much more lucrative).