Episode Details

16th Sep: Blockchain DXB Podcast - https://shorturl.at/lTDqm

🟣Kraken 🆚 SEC update ❗ Kraken removes Bitcoin LN in Germany ⛰️ Norway town - Closes Bitcoin Mining?💰 MicroStrategy- $1.11 billion worth of BTC

🟣 Kraken Digital Asset Exchange Rejects U.S. Securities and Exchange Commission Allegations, Insists Crypto Assets Aren’t Securities. Kraken has filed a motion to dismiss in September 2024, arguing that digital assets aren’t securities and accusing the SEC of overreach. Official filing here https://shorturl.at/uuwp9

🟣 Kraken’s legal clash with the SEC began in 2018, when the SEC accused it of operating as an unregistered exchange, broker, dealer, and clearing agency. In February 2023, Kraken paid a $30 million fine and stopped its staking services. After testifying before Congress in May 2023, the SEC notified Kraken of a lawsuit. By November 2023, the SEC officially charged Kraken, leading Kraken to file a motion to dismiss in September 2024, arguing that digital assets aren’t securities and accusing the SEC of overreach. In October 2024, a judge ruled the case would go to trial. 

🎙️ Check out Blockchain DXB episode for today we share our commentary on this with specifics on the timeline of the case

⚡ Kraken disabled Bitcoin Lightning Network withdrawals for customers in Germany this week due to regulatory concerns. Annoucement here https://shorturl.at/2Nu7U

-Kraken quietly removed the ‘lnbc’ prefix for German customers, confirming the end of Lightning withdrawals without issuing an official statement. Is his decision due to technical challenges in implementing LN? 

👀 Hadsel’s mayor, Kjell-Børge Freiberg, told NRK that noise from a Bitcoin mining center was disturbing residents. The mine, which was closed the week of Sept. 9, accounted for 20% of local electricity provider Noranett's revenue. While residents were initially happy with its closure, electricity bills will now rise to cover the lost income. The data center consumed about 80 gigawatt hours (GWh) of electricity annually, equivalent to the yearly usage of around 3,200 households. Via Cointelegraph https://shorturl.at/r7A8M

❗ In September 2022, residents of Sortland also complained about the noise from local Bitcoin mining operations.

🟠 MicroStrategy has acquired 18,300 BTC for $1.11 billion at $60,408 per #bitcoin and has achieved a BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, They cHODL 244,800 $BTC was acquired for $9.45 billion at $38,585 per bitcoin. Official info https://shorturl.at/7I3mA 

🟠 MicroStrategy's Bitcoin holdings are now valued at over $15 billion, significantly boosting shareholder value and driving a surge in the company’s stock price

🟠 Two UAE news

⚡ Dubai AI security policy launched

⚡ Finstreet Secures Key Licenses in Abu Dhabi to Launch Blockchain-Powered Ecosystem ADGM

For slides click here: https://shorturl.at/VfJLg

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