News of the week. Friday, December 3

Friday, December 3. The week is coming to an end, so we can talk about the most interesting news in the crypto industry over the past day.

Gary Gensler on the importance of crypto regulation

Cryptocurrencies have a future, but only in a “trust environment”. By centralizing space, the path to regulation. This conclusion was made by SEC Chairman Gary Gensler during DACOM 2021.

In addition, Gensler repeated the comparison of cryptocurrencies with the “Free Banking Era”. He believes that there are many projects that want to bypass the regulation. With the crypto industry outside the regulatory perimeter, this could have the effect of losing public confidence in the technology, the chairman added. He especially emphasized DeFi.

Gary Gensler’s speech did not have a negative impact on the market.

Recall that in the spring, Gensler called on Congress to clarify the regulatory framework of the crypto industry. In his opinion, a legal framework is needed for digital assets to survive.

The fortune of the head of Binance is estimated at $ 90 billion

Changpeng Zhao was ranked number one among the richest ethnic Chinese by China Caijing magazine. The CEO of Binance is ahead of the founders of TikTok, Nongfu, and Tencent. The publisher estimates Changpeng’s fortune at $ 90 billion.

At the time of the calculation, the magazine used information about Zhao’s share in the crypto exchange in the amount of 30%, based on data from Forbes. In November, the Wall Street Journal estimated the company at $ 300 billion.However, in October Forbes indicated that Changpeng’s personal capital was $ 1.9 billion.

There is no official data on what share belongs to the Binance CEO in the exchange. In addition, Zhao himself often states that he stores a certain amount of BTC and BNB.

In March, the Chinese research institute Hurun presented a ranking of crypto billionaires at the end of 2020. The fortune of the head of Binance was estimated at $ 8 billion – he was second only to Bankman-Fried and Coinbase CEO Brian Armstrong.

Bruno hardforks on Binance Smart Chain

On November 30th, Bruno will be hardforked on Binance Smart Chain at block 13,082,000.

One of the goals of the improvement is to speed up full synchronization of nodes by more than 60%. It involves the deployment of a BEP-95 proposal with a BNB token burn mechanism similar to the Ethereum blockchain.

According to the developer, this will contribute to the network becoming more decentralized and will increase the internal price of BNB in ​​the long term.

A fixed proportion of the gas in each block will be burnt. Validators will be able to adjust the ratio, which is 10% by default

Exchange officials stressed that trading in BNB and other tokens available in BSC will not be affected during the update.

MicroStrategy added 7002 BTC to its portfolio

The MicroStrategy company additionally bought 7002 BTC for more than $ 400 million, the head of the company, Michael Sailor, wrote about this.

The average purchase price was around $ 59,187.

In the summer of 2020, MicroStrategy became the first public company to invest a portion of its $ 250 million in equity capital in the first cryptocurrency. Later, the board of directors approved a policy of increasing investment in digital assets at the expense of cash reserves.

After that, the CEO of MicroStrategy expressed confidence that other private firms would follow the company’s example. In the United States, Jack Dorsey’s Square and Elon Musk’s Tesla decided on such investments.

Last December, MicroStrategy placed $ 650 million in convertible bonds to buy bitcoin.

In February, the company issued more than $ 1 billion in debt securities and again invested the funds raised in cryptocurrency.

In March, MicroStrategy acquired 328 BTC, about 205 BTC and 262 BTC. The firm invested $ 15 million each in digital gold in April and May. The company later bought 229 BTC for $ 10 million.

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