₿ULLISH: Strategy Announces $21 Billion Stock Offering

Michael Saylor’s Strategy (STRK) Announces $21 Billion Stock Offering to Fund Bitcoin Purchases

Michael Saylor’s Strategy (STRK) has revealed plans for a $21 billion at-the-market (ATM) offering of its Series A preferred stock, with proceeds primarily aimed at acquiring more bitcoin. This move, announced early Monday, helped provide a slight boost to bitcoin’s price, which had recently dipped. STRK remains the largest corporate holder of bitcoin, owning nearly 500,000 BTC worth approximately $42 billion. However, MSTR shares have dropped 5.5% in premarket trading and are down 50% from their late November peak.

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HUD Considers Blockchain and Stablecoin for Federal Grants, Sparking Concerns

The U.S. Department of Housing and Urban Development (HUD) is exploring the use of blockchain and stablecoins to track federal grants, potentially marking a trial for broader crypto use across the government. While some HUD officials see benefits, concerns are growing over the volatility of cryptocurrency and the complications of integrating such technology into federal systems. The initiative, led by HUD’s Irving Dennis and backed by consulting firm EY, could involve paying grantees in stablecoins, though many officials question the practicality and risks, including potential harm to vulnerable recipients reliant on HUD funding.

SEC Signals Willingness to Modify Exchange Rule to Exclude Crypto Entities

Acting SEC Chair Mark Uyeda stated that the agency will consider modifying a proposed rule expanding the definition of an exchange to exclude entities facilitating crypto transactions. Originally aimed at Treasury markets in 2020, the rule was broadened under former Chair Gary Gensler to include crypto protocols, sparking industry backlash. Uyeda criticized this approach, arguing it improperly linked Treasury regulations with crypto oversight. With Gensler’s departure, the SEC has shifted its stance, launching a task force led by Commissioner Hester Peirce to establish clearer crypto regulations.

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Coinbase to Launch 24/7 Bitcoin and Ethereum Futures Trading for US Clients

Coinbase will soon introduce 24/7 Bitcoin and Ethereum futures trading on its Coinbase Derivatives platform, marking a first for US customers. The exchange announced that the service, designed to meet strong demand from crypto-native traders, will launch in the coming weeks. Coinbase emphasized that continuous trading access will allow users to manage risk and seize opportunities more effectively. The move aligns US markets with global standards, as many international exchanges already offer round-the-clock crypto futures. Coinbase is also working on introducing perpetual-style futures with long-dated expirations.

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