When Michael Saylor stepped down almost exactly a year ago as CEO of MicroStrategy to become its executive chairman, with a sole focus on investing in Bitcoin, his digital-asset strategy was looking pretty bleak, said Omkar Godbole. However, a rebound in the price of Bitcoin has sharply narrowed losses for MicroStrategy’s (MSTR) holdings of the cryptocurrency. MicroStrategy now owns 152,800 Bitcoins, up from 129,699 when Saylor surrendered the CEO job. The new purchases have lowered MicroStrategy’s cost basis to $29,672. This means that MicroStrategy, a software company that has become a proxy for Bitcoin’s price because of its largest holdings of the cryptocurrency, is nearly back in the black with Bitcoin.
A spokesperson for Huobi is denying reports that several executives were arrested in China as outflow from the exchange picks up. Colin Wu of Wu Blockchain had posted that a large number of senior executives of offshore cryptocurrency exchanges…have been detained and investigated by the Chinese police without adding specifics.
Curve Finance has recouped 73% of the funds stolen during a hack, which saw the platform lose over $73 million worth of various tokens. All $22 million in Ether and Ether derivatives stolen from Alchemix were returned. Curve, which lets users cheaply swap stablecoins on its platform, was hit by a re-entrancy attack that allowed attackers to steal tokens from Curve, and lending and borrowing platforms Metronome and Alchemix.