American software technology firm MicroStrategy has announced the pricing of a new $700 million debt offering due in 2032, intended to fund further Bitcoin purchases.
The official press release states that the notes will be sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933.
Initially announced at $500 million, the offering has been increased to a $700 million aggregate principal amount.
MicroStrategy plans to allocate part of the proceeds to acquiring more Bitcoin for its corporate treasury.
The company has already amassed 214,400 BTC, valued at approximately $14 billion, according to its Q1 2024 financial results.
These notes, which are unsecured senior obligations of MicroStrategy, will bear interest at a rate of 2.25% per annum.
Interest will be payable semi-annually in arrears on June 15 and December 15 each year.
The notes will mature on June 15, 2032, “unless earlier repurchased, redeemed or converted” as per their terms.
“Subject to certain conditions, on or after June 20, 2029, MicroStrategy may redeem for cash all or any portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed.”
MicroStrategy estimates that the net proceeds from the sale will be approximately $687.8 million after deducting initial purchasers’ discounts, commissions, and estimated offering expenses.
READ MORE: Kerrisdale Capital Launches Aggressive Campaign Against Bitcoin Miners, Targeting Riot Platforms
If the initial purchasers exercise their option to purchase additional notes in full, the total proceeds could reach around $786 million.
“MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin and for general corporate purposes.”
This move follows the firm’s announcement on June 13 to raise $500 million through a similar offering.
The expansion to $700 million underscores the Bitcoin-maxi firm’s strategy to strengthen its BTC holdings and position in the crypto market.
It’s important to note that since the notes are sold under Rule 144A of the Securities Act of 1933, they will not be officially registered with the United States Securities and Exchange Commission (SEC).
Notes traded under Rule 144A cannot be sold or bought in public markets without meeting SEC legal prerequisites.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
American software technology firm MicroStrategy has announced the pricing of a new $700 million debt offering due in 2032, intended to fund further Bitcoin purchases.
The official press release states that the notes will be sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933.
Initially announced at $500 million, the offering has been increased to a $700 million aggregate principal amount.
MicroStrategy plans to allocate part of the proceeds to acquiring more Bitcoin for its corporate treasury.
The company has already amassed 214,400 BTC, valued at approximately $14 billion, according to its Q1 2024 financial results.
These notes, which are unsecured senior obligations of MicroStrategy, will bear interest at a rate of 2.25% per annum.
Interest will be payable semi-annually in arrears on June 15 and December 15 each year.
The notes will mature on June 15, 2032, “unless earlier repurchased, redeemed or converted” as per their terms.
“Subject to certain conditions, on or after June 20, 2029, MicroStrategy may redeem for cash all or any portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed.”
MicroStrategy estimates that the net proceeds from the sale will be approximately $687.8 million after deducting initial purchasers’ discounts, commissions, and estimated offering expenses.
READ MORE: Kerrisdale Capital Launches Aggressive Campaign Against Bitcoin Miners, Targeting Riot Platforms
If the initial purchasers exercise their option to purchase additional notes in full, the total proceeds could reach around $786 million.
“MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin and for general corporate purposes.”
This move follows the firm’s announcement on June 13 to raise $500 million through a similar offering.
The expansion to $700 million underscores the Bitcoin-maxi firm’s strategy to strengthen its BTC holdings and position in the crypto market.
It’s important to note that since the notes are sold under Rule 144A of the Securities Act of 1933, they will not be officially registered with the United States Securities and Exchange Commission (SEC).
Notes traded under Rule 144A cannot be sold or bought in public markets without meeting SEC legal prerequisites.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Pepe Fork (PORK), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
Currently, Pepe Fork can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Pepe Fork could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Pepe Fork launched with over $3,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe Fork on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Fork by entering its contract address – FwkBkVVhcvGDNVogaZryhNmrbZbxd5ArBxkm8VWvy7Eu – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PORK.
Lawyers for blockchain firm Ripple have urged a court to consider an “appropriate” civil penalty in its case against the United States Securities and Exchange Commission (SEC), referencing a recent settlement between the SEC and Terraform Labs.
On June 13, Ripple’s legal team filed a notice of supplemental authority in the U.S. District Court for the Southern District of New York.
They argued the SEC’s civil penalty against Ripple was “unreasonable,” citing a recent $4.5 billion settlement with Terraform Labs and its co-founder, Do Kwon.
The SEC has requested that Ripple pay approximately $2 billion in disgorgement, prejudgment interest, and civil penalties.
However, Ripple has argued for a penalty no greater than $10 million.
Ripple’s lawyers highlighted similar cases involving Block.one, Genesis Global Capital, and Telegram, but redacted specific information regarding their gross revenue.
“As Ripple’s opposition explained, in comparable (and even in more egregious) cases, the SEC has agreed to civil penalties ranging from 0.6% to 1.8% of the defendant’s gross revenues,” said Ripple’s lawyers.
“Terraform fits that pattern.
READ MORE: Kerrisdale Capital Launches Aggressive Campaign Against Bitcoin Miners, Targeting Riot Platforms
Here, by contrast, the SEC seeks a civil penalty far exceeding that range, even though there are no allegations of fraud in this case and Institutional Buyers did not suffer substantial losses.
Terraform thus confirms that the Court should reject the SEC’s disproportionate and unprecedented request and that an appropriate civil penalty would be no more than $10 million.”
After a two-week trial in April, a jury found Kwon and Terraform liable for fraud. Meanwhile, Ripple’s case with the SEC has been ongoing since December 2020.
The regulator alleged that Ripple used XRP as an unregistered security to raise funds.
This case set a significant legal precedent when, in July 2023, Judge Analisa Torres ruled that the XRP token was not a security in regard to programmatic sales on exchanges.
In October 2023, the SEC moved to dismiss its case against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, indicating plans to discuss remedies with Ripple.
Judge Torres initially scheduled the trial between Ripple and the SEC to begin in April, but adjourned it in October with no set date for resumption.
The timing for the trial remains uncertain.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Tortola, BVI, June 14th, 2024, Chainwire
Stage, with it’s $STAGE token that is set to launch soon on the BNB Chain, launches a platform where music fans directly influence the rise of new stars and get rewarded for it. This platform combines talent, technology and tokens to create a dynamic music ecosystem.
Stage is where artists and fans alike actively participate in shaping the future of music. On Stage, artists upload their video performances and compete in exciting rounds to rise to stardom. Fans play a crucial role by voting for their favorite artists, potentially earning exclusive rewards, and engaging with unique Real World Asset (RWA) Badges. The innovative business model ensures that artists receive 60% of the proceeds from votes cast for them, alongside 10% royalties on RWA Badges. Fans, on the other hand, are rewarded with Stage Badges for their support, making every interaction on the platform mutually beneficial.
The mission at Stage is straightforward: to empower music fans and artists, ensuring that everyone gets a piece of the action. The vision is to build a thriving community where every interaction enriches both fans’ and artists’ journeys.
Backed by top-tier crypto entities such as the Solana Foundation and key industry figures, including the CEO of Kraken US, Stage has additional support from RR2 Capital, Moonrock Ventures, and Cogitent (among others).
The powerhouse team behind Stage includes André Cruz, CEO and Co-Founder, a musician and e-commerce expert with three successful exits; Geoffrey Doyen, CTO and Co-Founder, who brings extensive AI experience from working with Fortune 500 companies; and Francisco Quartin de Macedo, COO and Co-Founder, who previously led a trading desk at blockchain.com.
Stage has also attracted high-profile ambassadors, including celebrities with millions of followers who will help amplify the mission. Among them is Jerry Heil, who ranked Ukraine as Eurovision 3rd Place. Their influence helps Stage reach a global audience and attract top-tier talent to the platform.
By integrating Web 3.0 principles, Stage aims that both artists and fans are fairly compensated and deeply engaged. The platform’s unique approach includes:
- Play-to-Earn Model: Gamify the user’s music experience and potentially earn as they participate.
- Real World Assets (RWAs): Users can collect and trade digital badges linked to exclusive artist rewards.
- AI Music First: Users can compete in AI music competitions and tokenize music samples, melodies, beats, and vocals.
The Token Generation Event (TGE) for $STAGE will be conducted through the reputable launchpads ChainGPT, Decubate and Eesee. This will aim to a broad and invested audience, to potentially maximize the impact and reach of the token launch.
Users can stay updated with Stage’s journey by following on Twitter and joining the Telegram community, to be the first to know about the latest updates and exclusive rewards.
Contact
CTO & Co-Founder
Geoffrey Doyen
Stage Token Inc.
info@stage.community
Mommy Pepe (PEPEMOM), a new Solana memecoin that was launched this week, is poised to explode over 14,000% in price in the coming days.
Currently, Mommy Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Mommy Pepe could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Mommy Pepe launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Mommy Pepe on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Mommy Pepe by entering its contract address – CrSXxNkYFwc7Y79qwManr3xVkV5RdBavLP9L8tc6gv3R – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEMOM.
From June 6 to 9, over 185 million citizens from the European Union’s 27 member states voted for candidates to serve a five-year term in the European Parliament, the legislative branch of the political bloc.
This pivotal event will shape the political direction of the EU for five years, including the future of crypto and blockchain.
The election results are mixed: The Christian Democrats won 10 seats, the Social Democrats lost only four seats, and the pro-business Renew Europe Group lost 23 seats.
The Greens lost 18 seats, while far-right parties made notable gains.
Cointelegraph reviewed the election manifestos of various parties and interviewed members of the European Parliament about their plans for the crypto and blockchain industries.
The EPP Group, the largest and one of the most influential political groups in the European Parliament, holds a cautious yet forward-looking stance on cryptocurrencies, the digital euro, and blockchain technology.
MEP Stefan Berger stated, “Crypto assets are gaining importance and have their place as a complement to the traditional financial system.”
The EPP supports the current MiCA law but sees the potential for future adjustments and a legal framework for NFTs.
The S&D Group is cautiously optimistic about blockchain and cryptocurrencies, recognizing their potential benefits but emphasizing the need for strict regulations to prevent fraud, money laundering, and tax evasion.
They support the idea of a digital euro for increasing the effectiveness of monetary policy and consumer protection.
Renew Europe, a centrist and liberal political group, has been a prominent voice in the European debate on crypto.
READ MORE: Ripple CTO Debunks Rumors of Abandoning XRP and Reaffirms Commitment to Token’s Future
The group supports a robust regulatory framework for crypto assets and views blockchain technology as a key driver of transparency, efficiency, and growth.
Renew Europe champions a digital euro and a European digital identity to enhance trust in digital transactions and streamline administrative processes.
The ECR Group holds a pragmatic and cautious view on cryptocurrency, advocating for robust Anti-Money Laundering measures and stringent cybersecurity measures.
They are skeptical about a digital euro, viewing it as unnecessary given existing solutions like instant payments.
The ID Group does not have an official stance on digital currencies and blockchain.
However, member parties such as Germany’s Alternative for Germany (AfD) oppose a digital euro, fearing it could undermine the use of cash and individual privacy.
The Greens/EFA Group acknowledges the potential of blockchain for enhancing transparency and sustainability but is concerned about the environmental impact of certain cryptocurrencies.
They support exploring a digital euro that aligns with sustainability goals and social welfare.
The Left is critical of cryptocurrencies, expressing concerns over their potential to facilitate illicit activities and exacerbate economic inequality.
They support a digital euro designed to enhance public control over the monetary system and promote economic justice.
Volt Europe, a pro-European federalist party, advocates for protecting users’ digital rights while ensuring compliance with financial regulations.
They support a digital euro and harmonized European investment regulation.
The European Christian Political Movement (ECPM) supports technological progress as long as it does not threaten human dignity, fundamental rights, or the environment.
The newly elected European Parliament will significantly influence the future of cryptocurrency and blockchain technology in the EU.
Each political group has a different perspective, leading to expected debates and potential adjustments to frameworks like MiCA.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Phoenix, United States, June 13th, 2024, Chainwire
Devour, the leading web3-powered food ordering platform, announced today that it’s simplifying crypto payments for millions of users with the integration of Coinbase Commerce into its DevourGO checkout. This innovative move allows crypto enthusiasts to seamlessly pay for their favorite meals using their existing Coinbase.com or Wallet accounts, all within the DevourGO app.
“We’re excited to partner with Coinbase Commerce to make crypto spending on food effortless for millions,” said Shelly Rupel, CEO of Devour. “This integration unlocks a massive opportunity – crypto holders can now enjoy food delivery while paying with the ease of their Coinbase account. It’s a win-win for both sides, offering crypto users the convenience they crave and restaurants a new way to tap into a growing and tech-savvy customer base.”
DevourGO leverages the power of web3 technology to create a more engaging and rewarding dining experience for both consumers and restaurants. Empowering food ordering and engagement beyond the traditional apps — in-game, in-entertainment and in-digital communities! With the addition of Coinbase Commerce, DevourGO unlocks a new level of convenience and accessibility for millions of crypto enthusiasts.
“Coinbase Commerce was created to provide new and more accessible avenues for businesses and consumers to transact with crypto,” said Lauren Dowling, Group Product Manager, Coinbase Commerce and Onramp. “We are pleased to integrate with DevourGO and provide convenient, seamless, and a borderless customer experience for restaurants and crypto enthusiasts.”
Benefits of the DevourGO and Coinbase Commerce Integration:
- Convenience for Crypto Users: DevourGO users can now pay for their food orders directly with their crypto holdings, eliminating the need to convert to fiat currency.
- Increased Revenue for Restaurants: Restaurants using DevourGO can tap into a new customer base of millions of crypto enthusiasts who are eager to spend their digital assets.
- Effortless Checkout: Pay for food directly from your Coinbase account, eliminating the need for multiple logins or complex processes.
How it Works:
- Users place their food order through the DevourGO platform.
- At checkout, users select Coinbase Commerce as their payment method.
- Users are directed to their Coinbase.com or Wallet account to complete the transaction.
- Once the transaction is confirmed, the user’s order is processed by DevourGO and sent to the restaurant.
About Devour
Devour is a trailblazing platform that transforms the digital dining experience, uniquely integrating food ordering into the gaming and streaming worlds for Gen Z. It’s more than an app; it’s an innovative ecosystem where games, entertainment, and food converge. With the Devour Platform, we’re tapping into the lifestyles of over 200 million U.S. gamers, offering a seamless blend of entertainment and convenience. Learn more at devour.io.
About Coinbase
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
For media inquiries or to request an interview with CEO Shelly Rupel, users can contact Leah Smith at press@devour.io
Contact
CMO
Leah Smith
Devour
press@devour.io
George Town, Cayman Islands, June 12th, 2024, Chainwire
The VGX Foundation has announced a partnership with popular web3 game Honeyland, offering rewards utilizing the VGX token for their players.
VGX is a token that bridges multiple chains and is focused on bridging utility across GameFi and gaming ecosystems.
Honeyland is a popular blockchain-based casual strategy game available on iOS and Android, and one of the top games on Solana. With the new partnership, holders of Genesis Eggs, Bees, or Queens based on a snapshot of holders taken at 17:00 UTC on June 6, 2024, will receive VGX rewards. Thanks to the previously announced partnership with Gala Games, players receiving VGX will be able to take their VGX to Gala Games, where they can purchase a Voyager: Ascension season pass unlocking the ability to earn GVGX rewards.
In addition to the VGX reward for Genesis holders, from June 12 to June 19, there will be a free VGX cosmetic trait available to all Honeyland players in the Honeyland Cosmetic Shop: a VGX-themed “Mad Hatter” style hat. The cosmetic trait can be fused to any Bee, and by doing so will boost the Capacity trait for the Bee.
“We’re always looking for new ways to reward Honeyland players,” said Corey Wright, CEO at Honeyland. “Thanks to this partnership with the VGX Foundation, we’re able to offer exciting new rewards to our players whether they’ve been with us since the beginning, or are joining today.”
The VGX Foundation’s mission is to increase the number of projects integrating and using the VGX token, growing the number of users able to access and use the token across web3 gaming. For more information, visit www.vgxfoundation.com.
For media inquiries, please contact Melrose PR at (310) 260-7901 or Info(at)Melrosepr(dot)com
About VGX Foundation
The VGX Foundation leads the evolution of decentralized gaming economies through its dynamic blockchain-based gaming token, VGX. Serving as an in-game currency and reward mechanism, VGX empowers diverse gaming communities. The VGX Foundation actively fosters growth by facilitating grants and partnerships for game developers and platforms, enabling the expansion of the token’s use case and nurturing a thriving VGX ecosystem.
Contact
Account Director
Jonthan Duran
Melrose PR
jonathan@melrosepr.com
Los Angeles, CA, June 12th, 2024, Chainwire
Proof of SQL is orders of magnitude faster than state-of-the-art zkVMs and coprocessors.
Space and Time (SxT), the Verifiable Compute Layer for AI x Blockchain, today released Proof of SQL, a high performance zero-knowledge prover for processing data, on GitHub.
Proof of SQL is a novel ZK proof developed by SxT, which cryptographically guarantees that SQL database queries were computed accurately against untampered data. Using Proof of SQL, developers can compute over both onchain and offchain datasets in a trustless manner, proving the result back to their smart contract just-in-time during a transaction to power more sophisticated DeFi protocols with data-driven smart contracts.
“Space and Time is thrilled to lead Web3 into a new era of data-driven smart contracts and the next generation of DeFi,” said Jay White, PhD, Co-Founder and Head of Research at SxT, and the inventor of the Proof of SQL protocol. “Our team pioneered sub-second ZK proofs so that smart contracts and AI agents can ask questions about a chain’s activity, as well as offchain data, and receive back trustless SQL query results onchain during a transaction without having to wait for 30 minute proof times.”
Proof of SQL was released in alpha to a select group of SxT customers in August. With today’s release on GitHub, the protocol is now available to the public. Community members can run trustless queries on SxT on the Space and Time Studio, and developers can download the repository directly from GitHub.
Proof of SQL is the first ZK prover that runs sub-second. In the latest benchmarks run by the SxT cryptography team, the protocol can execute analytic queries over 100k-row tables in less than a second on a single GPU, and can aggregate over millions of rows of indexed data within Ethereum block time on a single NVIDIA T4.
Proof of SQL offers a significantly more performant architecture for processing large volumes of data than generalized zkVMs and co-processors. While generalized zkVMs offer an extensible solution for arbitrary computations, data processing is slow to prove.
Proof of SQL can be integrated with these zkVMs to provide verifiable source data that arbitrary code can be executed over. Space and Time encourages and invites contributions from the community, as well as other ZKP engineering teams to collaborate in the repo. The prover can be integrated into any SQL database (such as Google BigQuery), centralized or decentralized, and is already securing some of the most prominent Web3 apps, financial institutions, and enterprises.
About Space and Time
Space and Time is the verifiable compute layer for AI x blockchain that joins tamperproof onchain and offchain data to deliver enterprise use cases to smart contracts and LLMs. Space and Time has developed a novel cryptography called Proof of SQL that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. Space and Time is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.
For more information, visit: Website | Twitter | Discord | Telegram | LinkedIn | YouTube
Contact
Catherine Daly
marketing@spaceandtime.io