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MicroStrategy, led by Bitcoin advocate Michael Saylor, has named former Binance.US CEO Brian Brooks, along with Jane Dietze and Gregg Winiarski, as new members of its board of directors.
This move coincides with the recent incorporation of Brian Brooks, former acting Comptroller of the Currency in the United States and a leading figure in the crypto ecosystem, and is considered a “great achievement” for MicroStrategy. According to statements from Swan Bitcoin.
Brooks resigned from Binance.US in 2021 following strategic differences and has been mentioned as a possible replacement for Gary Gensler as SEC chairman under an eventual Trump administration.
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NEW: Michael Saylor has added Brian Brooks, former Acting 🇺🇸 Comptroller of the Currency and CEO of Binance, to MicroStrategy’s Board of Directors 🔥
This is a BIG deal. As Comptroller, Brooks oversaw the entire US banking system and is deeply connected.
Es $MSTR about… pic.twitter.com/76dQJoCSvT
— Swan (@Swan) December 21, 2024
With these appointments, MicroStrategy’s board of directors now has nine members. The announcement highlights that Brooks, Dietze (associated with Galaxy Digital) and Winiarski (legal director of Fanatics Holdings) will be eligible for equity awards.
This change follows Nasdaq’s decision to include MicroStrategy in the Nasdaq 100, along with Palantir Technologies and Axon Enterprise. Solidifying the company as one of the 100 largest stocks by market capitalization in the index.
Tai Mo Shan will pay USD 123 million for stabilizing TerraUSD and misleading investors, according to the SEC
The SEC has reached a settlement with Tai Mo Shan, a subsidiary of Jump Trading, for its role in artificially stabilizing the TerraUSD (UST) stablecoin following its decoupling in May 2021. According to the complaint, the company invested $20 million to restore the USD 1 peg, while hiding this intervention from investors.
Tai Mo Shan will pay $123 million, including $86 million in restitution plus interest and $36 million in civil penalties. Without admitting or denying the accusations.
The SEC claimed that the subsidiary’s actions led investors to falsely believe in the effectiveness of Terraform Labs’ algorithmic stabilization mechanism.
The case also notes that Tai Mo Shan received unlocked luna tokens early, which they sold on the market, making significant profits. In parallel, Terraform Labs agreed to pay more than USD 4 billion in fines after the collapse of its ecosystem and is in the process of liquidation.
Quantum computing could strengthen the Bitcoin network in the future
Although quantum computing raises concerns about the possible breakdown of cryptographic algorithms, some experts believe that it could also strengthen the security of Bitcoin in the long term.
Adam Back, co-founder and CEO of Blockstream, has highlighted that the implementation of post-quantum (PQ) signatures could be a solution to preserve network security in the post-quantum era, which he estimates is still several decades away.
Back noted in a recent post on X that research on PQ signatures will eventually offer more compact and revised schemes. Allowing Bitcoin to integrate these technologies as additional options to strengthen its network.
in all likelihood the hash-based PQ scheme will never be used. because PQ is likely still several decades out at least. and PQ signature research will eventually produce conservative well reviewed more compact signatures, and bitcoin can add those schemes as another option.
— Adam Back (@adam3us) December 21, 2024
Meanwhile, Bitcoin’s current security remains reliable, with digital signatures guaranteeing the integrity of transactions using private keys.
MicroStrategy breaks records with massive Bitcoin purchases in November
MicroStrategy has once again stood out in the Cryptocurrency market with historic Bitcoin acquisitions during November 2024. According to data from Saylortracker, the company acquired 27,200 BTC on November 10 at an average price of USD 74,000 per unit. A week later, on November 17, he added another 51,780 BTC, followed by his largest recorded purchase of 55,500 BTC on November 24, at a price of approximately $97,000 per coin.
These acquisitions far exceed its most significant purchases of the 2020-2021 bull cycle, when MicroStrategy acquired 29,646 BTC in December 2020 at a price of USD 21,000 each.
Co-founder Michael Saylor reaffirmed the company’s commitment to Bitcoin, stating that they will continue to acquire the asset even at all-time high prices.
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