In this week’s edition of the weekly recap, the Bitfinex exchange hacker secured early prison release through criminal justice reform legislation, BitMine Immersion’s chairman requested shareholder approval for massive authorized share expansion, and South Korean traders transferred over $110 billion to foreign platforms amid domestic regulatory constraints.
Summary
- Bitfinex hacker gained early release under US prison reform legislation.
- Treasury firms reshaped crypto strategies as firms expand staking and share plans.
- Governments worldwide advanced crypto rules, from Turkmenistan to China.
Bitfinex hacker credits Trump legislation for early release
- Ilya Lichtenstein announced Thursday via X that he has been released from prison early under President Donald Trump’s 2018 First Step Act.
- Lichtenstein, who confessed to orchestrating the cryptocurrency exchange hack, stated he “remains committed to making a positive impact in cybersecurity as soon as I can” following his release.
BitMine chairman addresses share authorization proposal
- Tom Lee, chairman of Ethereum treasury firm BitMine Immersion, urged shareholders to approve a board proposal increasing the company’s authorized share count from 500 million to 50 billion.
- In a start-of-year message, Lee clarified that the proposed increase is not intended to “dilute” existing shareholders.
Iran accepts cryptocurrency for weapons purchases
- Mindex, the export center of Iran’s Ministry of Defense, began accepting cryptocurrency payments for advanced weapons systems as a method to bypass international sanctions.
- Prospective customers can purchase missiles, tanks, and drones using cryptocurrency alongside other accepted payment methods including Iranian rials or bartering according to the center’s website.
Turkmenistan legalizes cryptocurrency operations
- The country officially implemented the Law on Virtual Assets legalizing cryptocurrency mining and exchanges to boost economic development and attract foreign investment.
- President Serdar Berdimuhamedov signed the regulations November 28, providing a framework for virtual asset use, creation, and exchange within the nation.
Cuban and Mavericks defeat Voyager fraud lawsuit
- A cryptocurrency class action alleging Mark Cuban and the Dallas Mavericks defrauded investors by promoting now-bankrupt crypto lender Voyager Digital has been dismissed in its entirety.
- U.S. District Court Judge Roy K. Altman dismissed the matter December 30, ending claims under various state securities laws and consumer fraud statutes according to Cuban’s legal team at Brown Rudnick.
Trump Media announces shareholder token distribution
- The company behind Truth Social revealed Wednesday plans to distribute a new digital token to shareholders through a partnership with Crypto.com.
- The token will be issued on Crypto.com’s Cronos blockchain, with each shareholder receiving one token for every whole share of DJT stock held once the program launches.
Cypherpunk expands privacy coin holdings
- The Winklevoss twins-backed digital asset treasury firm purchased $28 million worth of privacy coin zcash, bringing total holdings to 290,062 ZEC valued at $152 million.
- Nasdaq-listed Cypherpunk Technologies acquired 56,418 tokens at an average price of $514.02 per token, now holding approximately 1.76% of zcash’s circulating supply.
Prenetics abandons Bitcoin treasury strategy
- The health-sciences company that raised $48 million earlier this year partially to build a Bitcoin treasury announced it will cease BTC purchases amid prolonged cryptocurrency market weakness.
- Prenetics launched its accumulation strategy in June following the model championed by Michael Saylor’s Strategy Inc., but enthusiasm faded after October’s steep market downturn.
China introduces interest-bearing digital yuan
- The People’s Bank of China announced Monday a major framework overhaul revealing that commercial banks will begin paying interest on digital yuan holdings.
- This policy change aims to promote adoption of the state-backed digital currency by providing financial incentives for users to hold balances.
Source: https://crypto.news/bitfinex-hacker-released-early-weekly-recap/
