Today, in crypto, MicroStrategy has called a special shareholders meeting to fund its $42 billion Bitcoin acquisition plan. Russian lawmakers approved a six-year ban on cryptocurrency mining in 10 regions, and Hyperliquid has seen major net outflows amid concern over possible North Korean activity.
MicroStrategy calls shareholders meeting to fund more Bitcoin purchases
MicroStrategy has called a special shareholders meeting to seek approval for increasing its authorized shares to support its $42 billion Bitcoin acquisition plan, known as the 21/21 Plan.
The proposal includes increasing the number of authorized shares for both Class A common stock and preferred stock to provide more flexibility for future equity issuances. Since October, MicroStrategy has significantly accelerated its Bitcoin purchases, acquiring 42,162 BTC in December alone. As of Dec. 22, the company owned over 444,000 BTC, valued at approximately $43.5 billion at current prices.
MicroStrategy’s portfolio holds over 444 million BTC. Source: Saylor Tracker
Russia bans crypto mining for 6 years in 10 regions
The Russian government decided to impose a ban on cryptocurrency mining from Jan. 1, 2025. The ban will remain effective for six years until March 15, 2031.
According to the local news agency TASS, Russian lawmakers also approved seasonal restrictions in key cryptocurrency mining regions to prevent energy blackouts.
The restrictions align with Russia’s cryptocurrency mining laws signed by its president, Vladimir Putin, in August and October 2024.
Hyperliquid net outflows hit $250 million over North Korea hack fears
Hyperliquid has suffered its largest-ever outflows — over $256 million in the last 30 hours to Dec. 24 — after security experts said that North Korean hackers were trading on the crypto derivatives platform.
Metmask security researcher Tay Monahan said in a Dec. 23 X post that the hermit nation’s hackers had been using the platform from as early as October in a bid to “test” how to exploit it.
The post sparked concerns about the platform, and outflows from Hyperliquid on Dec. 23 hit an all-time peak of $502.71 million, while inflows reached over $253.5 million.
Net outflows from Hyperliquid have topped $256 million in the last 30 hours. Source: Dune Analytics
Hyperliquid said on Discord it was “aware of reports circulating regarding activity by supposed DPRK addresses. There has been no DPRK exploit – or any exploit for that matter – of Hyperliquid. All user funds are accounted for.”
North Korean hackers such as the Lazarus Group have stolen $1.3 billion worth of crypto in 2024 — doubling last year’s haul in an effort to scrape together cash for the nation mostly cut off from the world by sanctions.
