What Happened in Crypto Today: Key Updates and News on 4 January 2025
Turkey’s Crypto Adoption Gains Momentum
Turkey’s Garanti BBVA Bank, owned by Spain’s BBVA, is launching crypto trading services for retail users via its custody platform, Garanti BBVA Kripto. Partnering with Spain-based Bit2me, this move aligns with the EU’s MiCA regulation, effective December 2024, offering legal clarity. Bit2me plans to collaborate with over 50 banks in 2025 to expand crypto access. MiCA fosters safe, regulated platforms, enabling exposure to BTC and ETH. Past initiatives include Deutsche Bank exploring Ethereum and blockchain technologies for banking services.
MicroStrategy’s $2B Bitcoin Expansion Plan
MicroStrategy plans to raise $2 billion via a perpetual preferred stock offering to expand its Bitcoin reserves and achieve its “21/21” vision of $21 billion in equity, fixed-income instruments, and Bitcoin holdings. The firm holds 446,400 BTC worth $43.9 billion after acquiring 257,250 BTC in 2024. Bitcoin’s current price is $97,977.58, with MSTR stock surging 13.22% to $339 in 24 hours, a 438.22% yearly increase. This strategy cements MicroStrategy’s leadership in corporate Bitcoin adoption.
Bio Protocol Lists on MEXC Convert Today
Bio Protocol (BIO) launched on MEXC Convert on January 3, 2025, with the BIO/USDT pair. Deposits are live, and withdrawals open January 4, 2025. MEXC Convert enables fee-free, instant token exchanges with fixed rates. BIO revolutionizes the commercialization of scientific intellectual property, empowering communities globally. The project features a total supply of 3.32 billion BIO, with an initial circulating supply of 1.3 billion. Trading pairs include BIO/USDT, BIO/BNB, BIO/FDUSD, and BIO/TRY. This listing enhances its role in decentralized science and blockchain innovation.
FTX Bankruptcy Plan Effective from January 3, 2025
The FTX Bankruptcy Plan took effect on January 3, 2025, initiating repayments for Convenience Class claimants with approved claims under $50,000, expected within 60 days. Users must complete pre-distribution steps via FTX’s Customer Portal. Critics highlight repayment amounts based on 2022 crypto prices, ignoring current value increases. Total repayments could exceed $16 billion, with BitGo and Kraken aiding distribution. Scams remain a concern, and no user confirmations of fund receipt have surfaced. Former CEO Sam Bankman-Fried has appealed his conviction.
Microsoft’s $80 Billion AI Investment for 2025
Microsoft plans to invest $80 billion in AI data centers by Q1 2025, focusing on training AI models and deploying cloud-based AI applications. Driven by the surge in AI demand post-ChatGPT’s launch, the investment will largely target U.S. infrastructure. Microsoft’s Q1 2025 capital expenditure rose 5.3% to $20 billion, making it a leader in the AI race. Brad Smith, Vice Chair, highlighted the role of private capital in U.S. leadership and urged balanced AI regulations to support innovation.
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