Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Circle Ceases Supporting USDC on Tron Network: Circle announces it will discontinue support for USD Coin (USDC) on the Tron blockchain to maintain USDC's integrity and safety. While the specific reason for halting Tron support is not provided, Circle emphasizes its ongoing evaluation of blockchain suitability for risk management.

2. Michael Saylor Commits to Forever Buying Bitcoin: MicroStrategy CEO Michael Saylor reaffirms his commitment to Bitcoin, stating he has no plans to sell the cryptocurrency. Saylor views Bitcoin as superior to traditional assets and anticipates continued capital inflows into Bitcoin.

3. Winklevoss Twins Donate to Crypto Super PAC Fairshake: Tyler and Cameron Winklevoss contribute $4.9 million to Fairshake, a crypto-focused political action committee (PAC) supporting pro-crypto candidates in U.S. elections. The donation bolsters Fairshake's efforts to advocate for crypto-friendly policies and counter overregulation in the industry.

4. Coinbase CEO Brian Armstrong Sells Stake: Coinbase CEO Brian Armstrong fulfills his pledge to sell 2% of his Coinbase stake, netting nearly $53.2 million. He continues to sell shares, potentially amounting to nearly 5% of his remaining stake.

5. 💡 Feature of the Day - BAYC Co-Creator Greg Solana Becomes Yuga Labs CEO: Greg Solano, co-creator of the Bored Ape Yacht Club (BAYC) NFT collection, becomes CEO of Yuga Labs, replacing Daniel Alegre. Solano aims to enhance BAYC's utility and creativity while prioritizing development and accelerating progress on the metaverse project Otherside.
   
   All this and more in today’s headlines!

📰 News Highlights:

🔄Circle to cease minting USDC on Tron network [Source][Source]

Circle, the issuer of the United States dollar-pegged stablecoin USD Coin, announced it will discontinue support for the token on the Tron blockchain.

The decision, effective immediately, aims to ensure USDC remains trusted, transparent, and safe. While Circle didn't provide a specific reason for halting Tron support, it stated that it continually evaluates blockchain suitability as part of risk management. The company will gradually phase out Tron network support, urging retail users and non-Circle customers to transfer Tron-based USDC to supported blockchains.

This move aligns with Circle's broader risk management approach and ongoing efforts to maintain USDC's integrity. Circle previously refuted claims of providing services to Tron founder Justin Sun, emphasizing its independence from the Tron network since February 2023.

💰Michael Saylor to forever buy Bitcoin — ‘No reason to sell the winner’ [Source][Source][Source]

MicroStrategy's CEO Michael Saylor reiterated his unwavering commitment to Bitcoin, asserting he has no plans to sell the cryptocurrency. Saylor views Bitcoin as superior to traditional assets like gold, real estate, and the S&P 500, anticipating continued capital inflows into Bitcoin.

Despite MicroStrategy's substantial Bitcoin holdings, valued close to $10 billion, Saylor believes in Bitcoin's technical superiority and its potential to attract capital from other asset classes. He emphasized Bitcoin's role as an exit strategy and expressed confidence in its long-term prospects.

Saylor's steadfast stance reflects MicroStrategy's pioneering adoption of Bitcoin and its conviction in the cryptocurrency's disruptive potential. With growing institutional interest and demand for Bitcoin ETFs, Saylor anticipates sustained capital inflows into the digital asset ecosystem, driving broader adoption and price appreciation.

🗳️Winklevoss twins donate $4.9M to crypto super PAC Fairshake [Source]

Tyler and Cameron Winklevoss contributed $4.9 million to Fairshake, a crypto-focused political action committee (PAC) supporting pro-crypto candidates in U.S. elections.

The Winklevoss twins' donations bolster Fairshake's efforts to advocate for crypto-friendly policies and counter overregulation in the industry.

Fairshake, backed by prominent crypto firms like Coinbase and Andreessen Horowitz, aims to shape the regulatory landscape by supporting candidates aligned with the crypto community's interests.

💼Coinbase CEO fulfills pledge to sell 2% stake [Source][Source][Source]

Coinbase CEO Brian Armstrong has followed through on his commitment to sell 2% of his Coinbase stake to fund other ventures, netting nearly $53.2 million. Despite initial plans, Armstrong continues to sell Coinbase shares, offloading an additional 316,150 shares since November.

Armstrong's recent sales, part of a disclosed trading plan, could amount to nearly 5% of his remaining stake, valued around $295 million.

These sales come amid ongoing diversification efforts and investments in startups focused on cutting-edge technologies.

Armstrong's strategic divestments underscore his confidence in Coinbase's long-term prospects and commitment to supporting innovative ventures. As Coinbase executives and major investors explore liquidity options, they aim to balance personal diversification with long-term company growth and shareholder value.

💡 Feature of the Day: 

🚀BAYC co-creator Greg Solana takes up reins as Yuga Labs CEO [Source][Source]

Greg Solano, one of the creators behind the Bored Ape Yacht Club (BAYC) NFT collection, has assumed the role of CEO at Yuga Labs, replacing Daniel Alegre.

Solano aims to enhance BAYC's utility and creativity while fostering partnerships and community engagement. Yuga Labs plans to prioritize BAYC's development and accelerate progress on its upcoming metaverse project, Otherside. Solano's return to the CEO position signals a renewed focus on BAYC's growth and community-driven initiatives.

Under his leadership, Yuga Labs seeks to empower its team and amplify BAYC's brand through strategic partnerships and innovative projects.

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😂 Crypto Meme of the Day: 

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com