FameEX Morning Crypto News Recap | March 20, 2024

Globe's Biggest Pension Fund Considers Diversifying with Bitcoin Investment

The Government Pension Investment Fund (GPIF) of Japan, recognized as the world's largest pension fund, is considering Bitcoin for investment diversification. Facing evolving challenges, GPIF has initiated a five-year research strategy aimed at uncovering new ways to diversify its portfolio, focusing particularly on sustainability and risk management to enhance its investment approach.

Bit Digital, a Bitcoin Mining Company, Announces Nearly 40% Increase in Revenues

The Nasdaq-listed Bitcoin mining company Bit Digital reported a 39% increase in its earnings for 2023, totaling $44.9 million, compared to the previous year. Additionally, the company's recent expansion into artificial intelligence generated $4 million in revenue as of February 2024, marking a significant stride in its diversification efforts.

MicroStrategy Raises $604 Million Through Note Sales to Purchase 9,245 Bitcoin

On March 18, ex-MicroStrategy CEO Michael Saylor announced on X the completion of their advertised sale of 0.875% convertible senior notes due in 2031, totaling $603.75 million. Following this, Saylor revealed the company's purchase of an additional 9,245 BTC, funded by the proceeds of the convertible notes and surplus cash, marking a significant expansion of their Bitcoin holdings.

UK Regulatory Body to Strengthen Controls Against Cryptocurrency Market Misconduct

The U.K.'s Financial Conduct Authority (FCA) is set to enhance its detection and pursuit of market abuse in the cryptocurrency sector over the next year. It aims to help implement a fair market abuse regime for cryptocurrencies and plans to advance its analytics capabilities with network analysis and cross-asset class visualizations.

Tether Treasury Issues 1 Billion USDT Tokens

Tether Treasury produced 1 billion USDT. Paolo Ardoino, Tether CEO, disclosed that the Tron network replenished this supply through an authorized but unissued transaction. This sum will serve as inventory for future issuance requests and chain swaps, ensuring a seamless operational process within the cryptocurrency ecosystem.

European Parliament Approves Anti-Money Laundering Legislation

European Parliament's legislative committees passed three key texts as part of an extensive anti-money laundering package, including provisions covering cryptocurrencies. The agreement mandates crypto service providers to adhere to customer verification protocols and monitor cross-border transfers, including transactions with self-hosted wallets, intensifying regulatory oversight to combat financial crimes effectively.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.