Weekly Recap: Microsoft Buys $BTC, Blackrock Acquires $1.17B Bitcoin, Stripe’s $1.1B Crypto Purchase – A Thrilling Week in Crypto and Economics.
Significant Blockchain Developments and Updates
Source | viralmag.fr
Microsoft’s Potential Bitcoin Investment Vote
- Microsoft’s board is scheduled to vote on a proposal to invest in Bitcoin during the December 10 shareholders’ meeting. However, the SEC has recommended against this move.
FetchAI and Injective Join Forces
- An official governance proposal is live to integrate FetchAI and Injective on-chain. With a remarkable 100% ‘yes’ vote, this partnership signals strong community support, marking one of the highest approval rates for any on-chain governance proposal.
New Airdrops and Listings
- Grass Airdrop: Scheduled for October 28 at 1:30 PM UTC.
Uniswap’s New Cross-Chain Bridge
- Uniswap’s launch of a bridge connecting nine networks is making cross-chain asset transfers more accessible than ever.
Chainlink’s Major AI Data Initiative
- Chainlink, in collaboration with eight projects, including Swift and Euroclear, has launched a significant initiative using AI to handle unstructured financial data, aiming to make blockchain data insights more powerful.
Sui Network’s Dubai Expansion
- In partnership with Expo City Dubai and Sheikh Ahmed Bin Malha, Sui Network launched the first SuiHub in Dubai, a step toward increasing blockchain adoption in the Middle East.
Bitcoin and Ethereum Milestones
- Bitcoin whales (major holders) have surged to a record level since January 2021, suggesting that a price increase may be on the way.
- Ethereum’s Co-founder Vitalik Buterin revealed that Ethereum’s upcoming network upgrade will improve both security and accessibility. But he has plans to vastly improve Ethereum, naming the movement “The Surge”.
Vietnam’s Ambitious Blockchain Strategy
- Vietnam introduced a national blockchain strategy, aiming to become a regional leader in blockchain technology.
New Partnerships and Network Upgrades
- Stripe acquired the crypto startup company Bridge for $1.1 billion, marking the largest acquisition in crypto to date.
- Blackrock acquired 16,975 BTC worth $1.17 billion, strengthening Bitcoin’s role as a leading financial asset. Citing @LookonChain on X
Source | thinkinginenglish
Major Economic Events and Data Releases
Global and BRICS Economic Policies
- BRICS confirmed it would not admit new members in 2024, choosing instead to reinforce existing economic strategies.
- India and China resolved a significant border dispute, easing regional tensions.
U.S. National Debt and Lending Updates
- The U.S. national debt jumped by $473 billion over three weeks, now totaling $35.8 trillion.
- The U.S. also approved $20 billion in loans to Ukraine.
Notable U.S. Economic Data
- New Home Sales (September): 738,000, strengthening the dollar.
- PMI Data (October): Manufacturing at 47.8 and services at 55.3, strengthening the dollar.
- Unemployment Claims: Reported at 227,000, strengthening the dollar.
Source | vectra.ai
Crypto Challenges and Cybersecurity Threats
Kaspersky Unveils Lazarus Group Attack
- The Lazarus Group allegedly exploited a Google Chrome vulnerability using a fake blockchain game, targeting crypto wallet credentials.
Suspected Government Wallet Hack
- $20 million in various tokens, including USDC and ETH, were unexpectedly transferred from a government-linked wallet, raising concerns of a possible security breach.
Massive Crypto Scam Uncovered in Hong Kong
- Hong Kong police arrested 27 suspects involved in a crypto scam that reportedly stole $46 million in assets from victims.
South Korea’s New Crypto Restrictions
- Over 33,000 South Korean crypto investors lost access to around $13 million in assets due to platform closures following updated regulations under the Virtual Asset User Protection Act.
Denmark’s Upcoming Unrealized Gains Tax on Crypto
- Denmark’s plan to tax unrealized crypto gains from January 2026 marks a groundbreaking approach to crypto taxation.
Additional Global News
Economic Strategies and Inflation Management
- Kamala Harris announced plans to raise the federal minimum wage to $15. This comes after Donald Trump temporarily worked as a fry attendant at a McDonald’s in Pennsylvania
- China lowered interest rates to boost its economy, and BRICS countries now control over 20% of global gold reserves.
Source | X/@realDonaldTrump
It’s clear that recent developments in crypto, blockchain, and the broader economy signal exciting times ahead. However, nothing in this recap is financial advice. It’s essential to *do your own research* (DYOR) and check out more insights on Millionero’s blog. And when you feel ready, you can trade spot and futures on Millionero.