Today's recap covers the latest developments in the crypto world, including moves by FalconX, MicroStrategy, Coinbase, and Binance, along with new regulatory updates from China.
FalconX and Arbelos Advance in Crypto Derivatives
FalconX, a digital asset prime broker, has acquired the New York-based derivatives trading firm Arbelos Markets. Leaders from both companies emphasized the importance of enhancing market liquidity and expanding the role of crypto in cross-asset portfolios. This partnership marks a new opportunity for the crypto derivatives market, aiming to mirror traditional asset classes.
MicroStrategy's $42 Billion Fundraising Plans
MicroStrategy plans to raise $2 billion through preferred stock offerings as part of its 21/21 plan, which aims for $42 billion in fundraising over three years. In December, the company's shares dropped by 21%, diverging from Bitcoin which fell by less than 2%. Still, MicroStrategy shares have spiked by 320% in 2024, making them an attractive alternative to BTC.
Coinbase Eyes European Market
Coinbase has acquired BUX's Cyprus unit, rebranding it as Coinbase Financial Services Europe. The acquisition grants the company a Cyprus Investment Firm license, allowing contract for differences (CFD) offerings in Europe. With this new license, Coinbase aims to strengthen its global market position, potentially surpassing Charles Schwab.
Financial updates from major players like FalconX, MicroStrategy, and Coinbase highlight the fast-paced growth and changes in the cryptocurrency market. New acquisitions, partnerships, and expansion plans demonstrate companies' interest in strengthening their role on the international stage. Meanwhile, regulatory changes in China and other markets also influence the overall industry landscape.
