🤑 Microstrategy's Bitcoin bet is paying off!

Welcome to Coinsauce's daily news 📰 roundup! Get ready for an action-packed day today, as two major events are set to shake things up. Both, the highly anticipated Ethereum Shanghai upgrade & the release of US CPI data has investors on their edge as they wait to see how these events will impact the overall market❗ But don't worry, we've got you covered with all the latest news and insights. So, let's dive into today's top stories in the world of cryptocurrency.

Trending in the past 24 hours 👇

1. FTX's Accounting Nightmare: Shocking Leaked Practices Revealed 🤦‍♂️

2. Game Changer: Metamask Enables Direct Crypto Purchases with Fiat 💰

3. Microstrategy's Bitcoin Investment Pays Off: Holdings Rebound into the Green 🤑

More details ahead!

FTX's Accounting Woes Exposed by Leaked Practices 😶

While the price of Bitcoin has recovered well beyond its pre-FTX-crash levels, investors are still reeling from the magnitude of irresponsibility displayed by SBF and their team.

In a new 50-page report dropped by FTX’s debtors (people who lost money on FTX), the following were a few of the revelations found (Ranked in the order of “Worst to Worst” 😂)

1. FTX held most of its assets in hot wallets, without multi-sig or MPC protection 🚫 (Why are we not even surprised!)

2. Accounting messages were sent via Signal and Telegram with disappearing messages. These messages were approved using emojis. (We’re sure we use better emojis in our newsletter!)

3. SBF himself joked about Alameda being "hilariously beyond any threshold of any auditor being able to even get partially through an audit.” Other execs also joked about finding $50m of assets lying around that they lost track of. (After all, what's a mere $50 million between friends, eh? 🙈)

At this point, we wouldn’t be surprised even if we found this in SBF’s inbox 👇

However, the past is in the past. The crypto verse has a knack for weeding out such scams now and then, thereby cleansing the space of all the unwanted dirt. That’s what precisely happened and how we look at it. Hopefully, other founders take this as an example of exactly what to avoid in the future!

Metamask Simplifies Crypto Purchases with New Fiat Feature 😅

Metamask keeps levelling up 🙌 The Ethereum wallet has yet again identified and addressed one of the biggest pain points for crypto investors. Its latest feature will make it easier for cryptocurrency newcomers to jump in and start buying crypto directly with fiat! No hassles, No complexities!

This feature will allow users to buy up to 90 tokens with fiat on eight different networks directly 😎

MetaMask has been working with various companies over the past year to simplify onboarding. It includes PayPal, Sardine Banxa, Mercuryo, Transak, MoonPay, Onramp.money & more.

This is a big sigh of relief for crypto investors at a time when regulators are keen on isolating the crypto world from the rest of finance & TradFi.

With an airdrop 🎯 lurking around the corner, it wouldn’t be a bad idea to try out this new feature to improve your chances of becoming eligible for or increase the amount of tokens you will receive when the airdrop finally goes live!

Microstrategy's Bitcoin holdings bounce back to being profitable after a rough ride ✅

After a prolonged crypto winter in 2022 fueled by multiple crypto contagions brought upon by the collapse of leading crypto unicorns, Microstrategy’s bet finally seems to be paying off yet again as bitcoin pushed past the key $30,000 resistance yesterday for the first time since the Luna collapse 🚀

Despite all the pain, Michael Saylor's strategy was always clear.. DCA and HODL, year after year!

Take a look at MSTR’s bitcoin treasury over the years 👇

Breaking the numbers down in short :

Total holdings = 140,000 BTC Average Price = $29,803 Current Price = $30,123

As a wise man once said, great investments only require patience & vision! Indeed true 🙏

The company's stock rallied 6.26% overnight after the news went viral on social media!

Meme of the day

Influencers looking in the mirror after calling bitcoin dead at $16K

Thanks for reading our newsletter 🗞️ today! We hope you enjoyed the latest updates in the world of crypto. Stay tuned for more exciting news and insights from Coinsauce. Don't forget to subscribe to our newsletter and follow us on social media to stay up-to-date with the latest happenings in the crypto world. Until next time!

Disclaimer : This newsletter is for educational purposes only and does not constitute financial advice or an offer to buy or sell assets. You must exercise caution and conduct your research before making any financial decisions.