BITCOIN

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Colombian president met with a group of blockchain proponents, the Brazilian Senate passed a law taxing investments in foreign exchanges, and the Fintech Chamber proposed a tokenization framework in Argentina. Colombian President Gustavo Petro Held a Meeting With Blockchain Experts Gustavo Petro, president of Colombia, recently met a group of blockchain experts to examine the possibilities of adopting this tech in state projects and its benefits. Different blockchain proponents, including JAN3 CEO Samson Mow, JAN3 Marketing Director Raul Velasquez, JAN3 CMO Edwin Rivas, RSK Labs co-founder Diego Gutierrez, Bingx International Operations Consultant Cristian Quintero, and Tropykus co-founder Mauricio Tovar discussed the implementation of systems leveraging this tech in health billing and land registry applications. Petro also hinted at utilizing...

Recent statistics reveal that Microstrategy, a company known for its business intelligence, mobile software, and cloud services, has seen a significant increase of over 30% in its bitcoin investments. The company invested a total of $5.314 billion, with the current value of its bitcoin cache reaching $6.915 billion, marking a substantial profit of $1.601 billion. Microstrategy’s Profits Have Risen by More Than 30% or 40,401 Bitcoin Microstrategy (Nasdaq: MSTR ) has experienced this notable growth following bitcoin’s ( BTC ) surge past the $39K mark. Currently, Microstrategy stands as the largest holder of bitcoin, surpassing both public and private entities, with the exception of governments and exchange-traded products such as Grayscale’s GBTC. As of the latest update , the company holds an impressive 174,530 BTC , currently valued at $6.915 billion based on the prevailing exchange rates. Microstrategy’s investment in BTC , amounting to $5.314 billion, was acquired at an average c...

On Sunday, December 3, 2023, bitcoin’s value surged past the $40K mark, peaking at $40,846 at 8:45 p.m. Eastern Time. Over the past week, bitcoin has witnessed an 8.4% increase and a 3% rise in the past 24 hours, achieving a peak that the cryptocurrency hadn’t seen in 20 months. Bitcoin Rises Above the $40K Zone Bitcoin ( BTC ) reached a peak previously last observed in early April 2022, as its value per unit soared beyond the $40,000 threshold. The intraday trading saw the cryptocurrency’s price fluctuating from a low of $39,309 to a high of $40,846 per BTC . This surge in price brings bitcoin’s total market capitalization to $795.87 billion, accounting for 50% of the entire $1.593 trillion crypto economy. Bitcoin chart by TradingView Since the start of the year, BTC has experienced a remarkable 140% rise against the U.S. dollar, and in the past month alone, this leading cryptocurrency has increased by just over 49%. Currently, bitcoin boasts a global trade volume of $17....

Mohammed and Benamar M., two brothers accused of exploiting Platypus, an avalanche-based automated market maker (AMM) platform, were acquitted of any criminal wrongdoing in a landmark case for French justice. The judge in charge stated that the individuals just interacted with a smart contract that gave “more than it had to give.” Platypus Hackers Acquitted After Perpetuating $9 Million Exploit Two individuals linked to the exploit of Platypus, a stablecoin-focused automated market-making (AMM) platform built on top of Avalanche, have been acquitted of criminal wrongdoing in France. The Paris Judicial Court dropped charges of accessing a computer system, money laundering, and concealment for Mohammed and Benamar M., two brothers who managed to siphon over $9 million from Platypus’ smart contract using an exploit. The two individuals arrested in February never denied that they exploited the platform. Instead, Mohammed acknowledged the facts, arguing that he had acted as a “white ha...