Yesterday we reported from CriptoTendencia that Elon Musk, CEO of Telsa, would have withdrawn his plans in favor of Bitcoin in the face of environmental concerns. The comment became one of the downward catalysts of the crypto leader, however, Square and MicroStrategy are not retiring.

Square and MicroStrategy respond to crypto panic

Over the past 7 days, the crypto leader has declined by 13%, ranking below $ 50,000. Even though Bitcoin had been having some tough weeks, it all broke loose on Wednesday afternoon, coinciding with Elon Musk’s comment.

As we previously reported, Musk reported that Tesla would stop accepting Bitcoin as a payment method given environmental concerns. Some in the crypto community labeled Tesla’s CEO a hypocrite after endorsing a Square study which claimed that Bitcoin actually incentivizes renewable energy.

In this regard, today Square’s CFO Amrita Ahuja assured the Financial News that the company currently has no plans to buy more Bitcoin at this time. However, they also have no plans to reassess where we are from a treasury perspective.

Likewise, and unsurprisingly, Michael Saylor, CEO of MicroStrategy, seized the opportunity to acquire more of the crypto leader.

Crypto regulation increases in Argentina

Local news outlet Buenos Aires Económico reported this week that Argentina’s Federal Administration of Public Revenue, or AFIP, ordered crypto exchanges and crypto firms to provide monthly reports of operations.

Therefore, anyone providing a crypto-linked service should maintain periodic lists of all user accounts and identity checks of clients, as well as their income, expenses and monthly balance.

Azure Blockchain will disappear

Very discreetly Microsoft announced that it will deactivate its Azure Blockchain corporate service on September 10 and will not accept new deployments effective immediately, without an official explanation.

It’s worth mentioning that some of the customers using Azure Blockchain are Starbucks, Xbox, and even JP Morgan.

In a few lines…

  • DBS Group, the largest bank in Southeast Asia, announced that it will offer trusted services for Bitcoin and other cryptos.
  • Cara Delevingne has decided to create an NFT that celebrates her ownership over her vagina with the goal of raising money in her organization’s fight for female empowerment and LGBTQIA+organizations.