MicroStrategy Purchases More Bitcoin, KuCoin to Require KYC

Name: FS Insight
Price range: $$$

Jun 28, 2023

Market Update Michael Saylor’s MicroStrategy has purchased another 12,333 Bitcoin at an average price of $28,136. The additional purchase brings the firm’s Bitcoin holdings to over 152,000 BTC at an average price of approximately $29.6k. $BTC (-1.09%) has declined slightly in light of the announcement, and $ETH (-1.48%) continues to underperform Bitcoin. Injective ($INJ) is outperforming today (+1.72%) while also being one of the strongest coins on the week, rising 10.90% compared to Bitcoin’s 0.43% decline. Traditional markets are mixed today as investors digest comments from central bank leaders. The S&P 500 is roughly flat, while the Nasdaq 100 has risen 0.21%.Crypto exchange KuCoin has announced that it will require all clients to undergo know-your-customer (KYC) procedures starting from July 15th. Users who fail to complete KYC will face limitations on accessing KuCoin’s features. They will only be able to use services such as spot trading sell orders, futures trading deleveraging, and margin trading deleveraging. They will not be able to make deposits but can still withdraw funds. The decision to implement mandatory KYC comes four months after KuCoin was sued by the New York State Attorney General for allegedly operating as an unregistered commodities and securit

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