Kalam Crypto #89: Nomura Launch Bitcoin Adoption Fund & 20 USDC Prize for Users
This week, Nomura bank launched a Bitcoin Adoption Fund, Microstrategy bought more bitcoin, SBF crime family saga continues, and poetic justice for a U.S. senator who opposed El Salvador’s bitcoin adoption.
"It all depends on how we look at things, and not how they are in themselves." Carl Jung
Ahlan wa sahlan, and welcome to the 88th edition of CoinMENA's weekly newsletter, Kalam Crypto. This week, Nomura bank launched a Bitcoin Adoption Fund, Microstrategy bought more bitcoin, SBF crime family saga continues, and poetic justice for a U.S. senator who opposed El Salvador’s bitcoin adoption. All that and more, so let's dive into this week's letter, and talk crypto:
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Global News 🌍
More legacy financial institutions adopting bitcoin: Nomura's digital assets subsidiary, Laser Digital, has launched the Bitcoin Adoption Fund, offering institutional investors the opportunity to invest in bitcoin (BTC). the fund provides long-only exposure to bitcoin and marks the first in a series of digital asset investment products that Laser Digital plans to introduce. Nomura is the latest traditional financial institution to announce a bitcoin product. This past week alone, Franklin Templeton applied for a spot bitcoin ETF, and Deutsche Bank revealed an institutional bitcoin custody service.
Microstrategy Buys More Bitcoin: Yes, he did it again! The biggest bitcoin bull in the world bought more bitcoin. In a tweet, Michael Saylor announced: “MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per bitcoin. As of 9/24/23. Microstrategy now hodls 158,245 BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin.”
Bankman-Fried Crime Family: FTX has filed a lawsuit against SBF's parents, Joe Bankman and Barbara Fried, accusing them of exploiting their connections and influence within the FTX organization for personal gain. The lawsuit alleges that rather than receiving the customary annual Christmas fruit basket, they were given substantial benefits, including a $10 million "gift" and the purchase of a $16.4 million mansion in the Bahamas by the exchange. Additionally, emails revealed Joe Bankman was not happy with his $200,000 annual salary and wanted $1 million instead, threatening to escalate this to Barbra, the mom. The investigation shows that SBF was not a bad fruit, the whole family tree is rotten.
Blog of The Week ✍️
The killer application of crypto is here (almost): Check out our CEO’s latest blog post about how crypto can improve people’s lives today!
FacePalm of the Week 🤦♂️
In 2022, U.S. Senator Bob Menendez introduced a bill to "mitigate risk of El Salvador's bitcoin adoption", citing it opens doors for money laundering and corruption. This week, the senator was indicted for corruption by Federal Prosecutors who found $100,000 in gold bars and $480,000 in hidden cash from his home. See, not all news is bad news!
Tweet Of The Week 🐥
CoinMENA News 🗞️
🎁Earn Your 20 USDC
We’ve given away close to 2,000 USDC to our users so far! Deposit or Withdraw USDC via the Stellar network, our recently added feature, and you can earn your $20 USDC too! This offer is limited to the first 1,000 CoinMENA users to complete such deposit or withdrawal. Terms and conditions apply, see full campaign details in this blog post.
Quiz Corner ✅
Last week’s question: : What can users earn by depositing or withdrawing USDC via the Stellar network?
Answer: $20 USDC
According to our Blog of the Week, what is the best way to protect wealth in regions like Egypt and Lebanon?
a) Investing in stocks
b) Opening an offshore bank account
c) Buying digital dollars (stablecoins) or BTC
d) Purchasing luxury assets
See the answer in next week’s newsletter. Or check out our new learning platform https://university.coinmena.com/