Microsoft has disclosed in a recent filing that shareholders will vote on a proposal to publicly assess the potential of adding Bitcoin to the company’s balance sheet. The vote is set for December 10th.

Popular cryptocurrency exchange Kraken announced that it will launch Ink, a new Layer-2 blockchain platform designed to streamline access to decentralized finance (DeFi), early next year. Built on Optimism’s OP Stack and set to be part of the wider Ethereum Superchain, Ink aims to remove traditional barriers that often make navigating DeFi challenging.

Consensys, a leading company in the blockchain and Web3 industry, is making a strong appeal for clearer digital asset regulations in the United States. This comes amid its ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC), which Consensys accuses of regulatory overreach that hampers innovation.

Top stories in the Crypto Roundup today:

• Microsoft Shareholders to Vote on Adding Bitcoin to Balance Sheet
• Kraken to Launch Ethereum Layer-2 Blockchain Ink Early Next Year
• Consensys Urges Clear Crypto Regulations in Open Letter to Future U.S. President 
• Crypto Market Movers – WELL, SAFE, APE

Microsoft Shareholders to Vote on Adding Bitcoin to Balance Sheet

Microsoft has revealed in a filing that its shareholders will vote on a proposal to publicly assess the potential of adding Bitcoin to the company's balance sheet. The vote is scheduled for December 10th.

While the proposal, put forth by the National Center for Public Policy Research (NCPPR), has garnered attention, Microsoft's board of directors has recommended voting against it. The company’s board argues that it has already evaluated many investment opportunities, including Bitcoin.

The NCPPR's rationale for the proposal centers on the success of Nasdaq-listed business intelligence firm MicroStrategy’s Bitcoin investment strategy, which saw it outperform Microsoft by over 300% this year on the market even as it conducted a “fraction of the business” of the tech giant.

Additionally, the growing acceptance of Bitcoin among institutional investors and the potential for it to serve as a hedge against inflation and corporate bond yields are cited as compelling reasons for Microsoft to consider the asset.

Kraken to Launch Ethereum Layer-2 Blockchain Ink Early Next Year

Popular cryptocurrency exchange Kraken announced it will launch Ink, a new Layer-2 blockchain platform designed to streamline access to decentralized finance (DeFi), early next year. Built on Optimism’s OP Stack and set to be part of the wider Ethereum Superchain, Ink aims to remove traditional barriers that often make navigating DeFi challenging.

Ink leverages the OP Stack, an open-source codebase licensed by MIT, that is part of Optimism's push to scale Ethereum and allows Ink to inherit the security of Ethereum while contributing to the Superchain—a network of interconnected Layer 2 solutions that share security, governance, and operational standards.

Ink’s integration with the Superchain will enable seamless interactions between Ink and other OP-based L2 platforms (such as Base, which is backed by Coinbase).

Ink is expected to launch on testnet in November and on mainnet in Q1 2025. At launch, Ink will support SuperchainERC20, facilitating smoother movement of assets across the Superchain ecosystem.

Consensys Urges Clear Crypto Regulations in Open Letter to Future U.S. President

Consensys, a leading company in the blockchain and Web3 industry, is making a strong appeal for clearer digital asset regulations in the United States. This comes amid its ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC), which Consensys accuses of regulatory overreach that hampers innovation.

Consensys published an open letter in the Wall Street Journal specifically addressed to the next U.S. President, in which it underscores the urgent need for a more defined and transparent regulatory landscape for digital assets, blockchains, and Web3 technologies.

According to the firm, the lack of clarity from the SEC has been a major barrier, making it difficult for innovators to navigate the complex regulatory environment without risking compliance issues.

Consensys calls for “smart, clear, and empowering regulation” that balances consumer protection with the encouragement of innovation. It argues that this is essential for the U.S. to maintain its position as a leader in digital technology and the evolving global economy, and called for policies that not only safeguard consumers but also support the developers who are shaping the future of digital finance.

Earlier this year, Consensys initiated a legal challenge against the SEC, criticizing the regulator’s ambiguous stance and frequent enforcement actions that the company believes have a chilling effect on the industry.

According to Consensys, the current regulatory ambiguity creates an environment of uncertainty that stifles innovation and limits the potential for blockchain technology to contribute to economic growth.

Crypto Market Movers – WELL, SAFE, APE

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Moonwell (WELL) - Moonwell is a digital cryptocurrency that operates on a blockchain-based platform. The WELL token serves as the fundamental currency within the Moonwell ecosystem, empowering various functionalities.

Safe (SAFE) - Safe is a platform that provides secure management of digital assets through a smart account infrastructure primarily on the Ethereum network and other Ethereum Virtual Machines (EVMs).

ApeCoin (APE) - ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem. The total supply of ApeCoin is permanently fixed at 1 billion tokens, with no minting or burning capabilities exposed through the contract interface. ApeCoin is part of a broader project called the APE ecosystem. This ecosystem aims to support web3 through art, gaming, entertainment, and events.

State of the Crypto by Top Tier Exchange Volume

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