1. Michael Saylor Spreads Misinformation on Trump's Crypto Tax Stance
MicroStrategy's Michael Saylor recently shared a misleading social media post claiming Donald Trump stated "crypto shouldn't be taxed" and "Bitcoin is money." Investigations reveal the fabricated quote originated from X account Basedkarbon. This incident highlights how unverified claims can rapidly gain traction in crypto communities.
2. Bitcoin Spot ETFs Achieve Historic Milestone
Key metrics for US Bitcoin spot ETFs:
- Total AUM: $72.545 billion
- Net asset ratio: 5.07% (first time exceeding 5%)
- Recent inflows: $870 million (3rd highest single-day inflow ever)
Notable inflow dates:
| Date | Inflow Amount | Rank |
|---|---|---|
| March 12 | $1.05 billion | 1st |
| June 4 | $887 million | 2nd |
| October 29 | $870 million | 3rd |
👉 Why institutional investors are flocking to Bitcoin ETFs
3. Coinbase Commits Additional $25M to Crypto Political Advocacy
Coinbase has pledged extra funding to Fairshake PAC, bringing its total 2024 political contributions to over $165 million. The PAC plans to:
- Support pro-crypto candidates in 2026 midterms
- Spend $40M+ in final 2024 election weeks
- Counter anti-crypto legislation
4. Microsoft Shareholders Vote on Bitcoin Investment Proposal
Preliminary voting has begun on whether Microsoft should allocate treasury funds to Bitcoin. Key context:
- Board recommends voting "No"
- Final decision at December shareholder meeting
- Corporate BTC adoption remains controversial
5. Crypto Market Manipulation Case Developments
MyTrade operator Liu Zhou pleads guilty to:
- Wash trading across multiple exchanges
- Implementing "pump-and-dump" schemes
- Targeting retail investors through volume bots
Related cases involve Gotbit, CLS Global, and ZM Quant facing similar charges.
6. US Treasury Advocates CBDCs Over Stablecoins
Treasury Department report expresses concerns about:
- $120B in US Treasuries backing stablecoins
- Frequent stablecoin depegging incidents
- Systemic risks from private stablecoin growth
Recommendation: CBDCs should eventually replace stablecoins as primary tokenized transaction vehicles.
7. Robinhood Reports Strong Crypto Trading Growth
Q3 2024 highlights:
- Crypto volume: $14.4B (+112% YoY)
- Crypto revenue: $61M (+165% YoY)
- Total AUC: $152.2B (+76% YoY)
👉 How retail traders are driving crypto markets
Cryptocurrency Market FAQs
Q: Why are Bitcoin ETFs attracting more institutional money than ETH ETFs?
A: Bitcoin's established store-of-value narrative and regulatory clarity make it the preferred institutional on-ramp, with ETH ETFs seeing just 1.28% of BTC's inflows.
Q: What's driving stablecoin regulation concerns?
A: Treasury worries about concentration risk - Tether alone holds $81B in US Treasuries, creating potential systemic vulnerabilities.
Q: How significant is Microsoft's potential Bitcoin investment?
A: While preliminary, approval could trigger wave of corporate BTC adoption similar to MicroStrategy's influence.
Q: What consequences do market manipulation cases have?
A: Increased SEC/DOJ scrutiny is raising compliance costs for legitimate market makers while weeding out bad actors.
Corporate Crypto Movements
| Company | Action | Amount |
|---|---|---|
| Sold majority BTC/ETH holdings | $6.869M profit | |
| MicroStrategy | Announced $42B fundraising plan | Targets 252K+ BTC |
| Coinbase | $1B stock buyback authorized | After Q3 miss |
Disclaimer: Cryptocurrency investments involve substantial risk. This report contains no financial advice.