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Pak NFT Sold to Benefit Julian Assange Goes for $52.7 M. – ARTnews

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By Alex Greenberger
Senior Editor, ARTnews
An NFT by Pak, an artist whose work has brought in huge sums at auction and in sales on digital platforms, was sold for 16,593 ETH ($52.7 million) on Wednesday, putting it among the most expensive NFTs ever sold. Titled Clock, the work is being sold to support funding for the legal defense of Julian Assange, who currently faces 18 criminal charges in the U.S., including ones for breaking the Espionage Act.
Clock, which logs the amount of days that Assange has spent imprisoned, was bought by a DAO, a decentralized community of individuals operating as one entity, dedicated to the WikiLeaks founder. On its website, the DAO said it was “rallying to the cause of a fellow cypherpunk in distress.”

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Pak, who has never revealed his identity, is well-known within the NFT community for mysterious projects that have sold for the equivalent of millions of dollars. Clock is not the artist’s most expensive work, however—that would be The Merge, which consists of 250,000 NFTs that are programmed to combine with each other upon purchase. That work sold for a collective $91.8 million on Nifty Gateway last year.
The Merge was billed as the most expensive digital artwork by a living artist ever sold at the time, although that label is dubious because the project technically consists of more than one piece. Beeple’s Everydays: The First 5000 Days (2021) indisputably triggered an NFT boom after its sale for $69 million last year at Christie’s, however, and Clock fell short of that sum, although it came much closer than other NFTs have.
The news about Clock wasn’t the only major NFT story from the past day. Do Hyung-teh, the CEO of Gallery Hyundai, a juggernaut within the South Korean art scene, announced plans to launch a NFT venture through his company AIT Inc., which he runs with Andrew Ku.
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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says – CoinDesk

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