COINDESK DAILY: Trump-Endorsed Crypto Project Confirms Plan for a Token; Bhutan Holds Over $780M in Bitcoin
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 17 September 2024
⏱️ 2 minutes
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Summary
Host Jennifer Sanasie breaks down the news in the crypto industry from World Liberty Financial's token plan to Bhutan's bitcoin holdings.
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as World Liberty Financial, a crypto project the Trump family has endorsed, confirmed the launch of a governance token WLFI. Plus, MicroStrategy proposed to issue $700 million of convertible senior notes and Bhutan has accumulated over $780 million in bitcoin.
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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.
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Transcript
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| 0:00.0 | The Trump family crypto project to launch a governance token and Bhutan's Bitcoin bags. |
| 0:06.1 | This is Coin Desk Daily. I'm your host, Jen Sanasi. |
| 0:14.1 | World Liberty Financial, a crypto project endorsed by the Trump family will launch a governance token, WLFI. |
| 0:22.1 | Team members of the project confirmed during a live X spaces that WLFI will be non-transferable |
| 0:28.4 | and won't provide any economic rights. |
| 0:31.0 | As of now, the token will be offered only to accredited investors under an SEC Regulation D exemption. |
| 0:37.6 | Micro Strategy proposed to offer a $700 million aggregate principal amount of convertible |
| 0:42.6 | senior notes due in 2008. |
| 0:44.9 | According to the press release, the company plans to use the proceeds of the offering |
| 0:48.2 | to redeem $500 million worth of senior secured notes with 6.125% annual yield maturing in four years. |
| 0:56.0 | Micro Strategy plans to spend the rest of the proceeds on general corporate uses and potentially |
| 1:00.8 | more Bitcoin purchases. The firm disclosed just days ago the purchase of an additional |
| 1:05.2 | $1.1 billion worth of Bitcoin, sending their Bitcoin holdings to 244,800 Bitcoins worth about $14 billion |
| 1:13.7 | at current prices. |
| 1:16.2 | And moving across the ocean now, Bhutan has its eyes on Bitcoin. |
| 1:19.7 | According to data from Arkham, the Himalayan nation between India and China, has amassed |
| 1:24.7 | Bitcoin holdings worth over $780 million in the past few years. |
| 1:29.6 | That's nearly one-third of its GDP and the fourth largest state-owned stash. |
| 1:35.0 | Bhutan's Bitcoin does not come from law enforcement asset seizures, Arkham said, in an ex-post. |
| 1:40.3 | They are accumulated from the nation's Bitcoin mining operations run by state-owned drug holdings. |
| 1:46.2 | The mining operations are likely linked to BitDeer, which has been expanding mining facilities in the country and aiming for 600 megawatt capacity by 2025. |
| 1:55.3 | That's it for CoinDesk Daily. Get more updates on CoinDesk.com and we'll see you next time. |
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