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🌙 Microsoft BTC-Related Shareholder Proposal Rejected

There was a proposal asking Microsoft’s board of directors to assess whether holding bitcoin on the company’s balance sheet would benefit shareholders long-term. Shareholders voted against it, the company revealed Tuesday.

Author

Mike Gavela
December 10, 2024

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Crypto Roundup - December 10

Recent developments in the cryptocurrency sector underscore the dynamic interplay between corporate decision-making, regulatory approvals, and strategic investments. Microsoft's shareholders have voted against a proposal to invest in Bitcoin, aligning with the board's concerns over the cryptocurrency's volatility and its suitability for the company's investment strategy. In contrast, Ripple has achieved a significant regulatory milestone by securing approval from the New York Department of Financial Services for its RLUSD stablecoin, enhancing its position in the regulated digital finance market. Meanwhile, the Starknet Foundation has reinforced its commitment to the decentralized finance ecosystem by allocating an additional $50 million to its DeFi Spring program, aiming to accelerate growth and innovation within the sector.

Top Stories

  • Microsoft shareholders reject proposal to invest in Bitcoin, citing concerns over volatility and alignment with corporate investment strategies.

  • Ripple secures NYDFS approval for its RLUSD stablecoin, marking a significant advancement in its regulated digital finance offerings.

  • Starknet Foundation allocates an additional $50 million to its DeFi Spring program, underscoring its dedication to fostering innovation in the decentralized finance ecosystem.

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TOP STORIES

Microsoft BTC-related shareholder proposal rejected

Microsoft’s board of directors were asked to assess whether holding BTC on the company’s balance sheet would benefit shareholders long-term.

blockworks.co/news/microsoft-btc-shareholder-proposal-vote

Ripple’s RLUSD stablecoin receives final NYDFS approval

RLUSD stablecoin approval from NYDFS secures Ripple's entry into the market, aiming at institutional focus and USDC competition.

cryptobriefing.com/rlusd-stablecoin-approval-nydfs

Starknet Extends $50 Million ‘DeFi Spring’ Campaign - "The Defiant"

Up to 90 million STRK tokens have been allocated to protocols and users contributing to Starknet’s DeFi ecosystem.

thedefiant.io/news/defi/starknet-extends-usd50-million-defi-spring-campaign

FUNDRAISING

Web3 AI cloud startup Hyperbolic completes $12 million Series A funding round led by Variant and Polychain Capital - Cointime

According to Coinness, financial news outlet Web3 AI cloud startup Hyperbolic has announced the completion of a $12 million Series A funding round, led by Variant and Polychain Capital. Other investors include Chapter One, Lightspeed Faction, Bankless Ventures, GSR, IOSG, Vertex, Blockchain Builders Fund, Wintermute, Alumni Ventures, Ambush Capital, and several angel investors. With this investment, Hyperbolic has raised a total of $20 million. The new funds will be used to expand the engineering and strategic teams and enter the market. Hyperbolic plans to launch its own blockchain next year. The company plans to integrate global GPU computing resources with blockchain technology to provide the market with verifiable, secure, and reliable AI services, effectively alleviating the industry's pain points of high computing resource costs and uneven distribution. Additionally, the company has launched a decentralized orchestration layer, Hyper-dOS (Hyperbolic distributed operating system), which provides solid technical support for the entire GPU market.

www.cointime.ai/flash-news/web3-ai-cloud-startup-hyperbolic-completes-98427

OTHER HEADLINES

Crypto industry sounds off on SEC’s Crenshaw ahead of vote

Crypto lobbyist group Cedar Innovation Foundation has called Crenshaw even more anti-crypto than Gary Gensler.

blockworks.co/news/industry-opinions-on-sec-commissioner-crenshaw

Google’s quantum computer could break Bitcoin in two ways

Another quantum computing news announcement from Google and its Willow chip division spooked the Bitcoin community yesterday.

protos.com/googles-quantum-computer-could-break-bitcoin-in-two-ways

Luigi token pulls $77m as UnitedHealthcare murder shows memecoins’ dark side

In another case of grisly memecoin trading, investors pour millions into a token linked to a murder.

www.dlnews.com/articles/markets/memecoin-investors-pour-millions-into-murder-linked-token

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