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MicroStrategy has announced it is issuing $550 million worth of convertible senior notes and intends to use the net proceeds to buy bitcoin.

The post MicroStrategy is offering $550m in convertible notes with net proceeds to buy bitcoin appeared first on The Block.

Cryptocurrency asset manager Bitwise has listed the shares of its index fund on over-the-counter (OTC) markets, making them tradeable via traditional brokerage accounts.

The post Bitwise lists its crypto index fund on OTC markets, shares tradeable via brokerage accounts appeared first on The Block.

Payments startup TransferWise is planning a hiring spree in the new year through the creation of 750 new roles globally, including 175 in its London headquarters.

The post Payments unicorn TransferWise to hire 750 people in six months appeared first on The Block.

Quick Take

• Blockchain size growth reduces the potential number of nodes and increases the cost of data storage.
• 8% of Bitcoin transactions have OP_RETURN with data as one of the outputs. 90% of them are from Veriblock and Omni.
• It costs roughly $20.2M to write 1GB of data to a smart contract on Ethereum with access to this data from the blockchain.
• Existing decentralized storage solutions do not allow smart contracts to read data from them due to the lack of blockchain interoperability.

Quick Take

• ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins. 
• This week’s column focuses on the recent backlash the digital assets and financial services industries are facing from Capitol Hill.