Peter Schiff calls Strategy's model 'fraud,' challenges Saylor to debate

Michael Saylor, executive chairman of MicroStrategy (MSTR), has stated that the company's strategy is designed to endure a significant Bitcoin crash. In a live interview on November 14, Saylor emphasized that even a drastic drop in Bitcoin's value would not compel him to liquidate MicroStrategy's core holdings. He indicated that Bitcoin would need to fall by 90% for the company to face serious collateralization issues, highlighting the strength of its balance sheet with approximately $8 billion in debt and substantial equity tied to Bitcoin.

Teresa Goody Guillén, the lawyer for Binance co-founder CZ, has denied allegations that a pardon granted to him was part of a 'pay-to-play' scheme. She described the accusations as a 'pile up of false statements' and questioned the political immunity of critics, specifically mentioning Senator Elizabeth Warren. The statement comes amid ongoing scrutiny of Binance and its operations in the cryptocurrency sector.

Peter Schiff has labeled the model of Strategy as a 'fraud' and has issued a challenge to Michael Saylor for a debate. Additionally, Schiff has also called for a debate with Binance co-founder Changpeng Zhao, which is set to occur in December in the United Arab Emirates. This statement reflects Schiff's ongoing criticism of cryptocurrency strategies and their proponents.

Teresa Goody Guillén, the personal attorney of Binance founder Changpeng Zhao, has denied allegations of pay-to-play related to Zhao's recent presidential pardon. In a podcast interview with Anthony Pompliano, Guillén addressed criticisms that linked the pardon to Binance's business dealings with World Liberty Financial and other entities associated with former President Trump.

Blackrock's BUIDL fund has officially integrated into the Binance ecosystem, enhancing its on-chain institutional reach. This move signals a growing demand for regulated on-chain liquidity, positioning Binance as a key player in the cryptocurrency market. The integration is expected to facilitate the use of tokenized assets as institutional collateral, further expanding the potential for compliant blockchain infrastructure.

The Bitcoin price has continued its downward trend, which began in the second week of October, falling below the psychological support level of $100,000. This decline has raised concerns among market participants about the overall market structure. Recent on-chain analysis from Arab Chain indicates a significant increase in sell-side momentum on Binance, the largest exchange by trading volume, suggesting a growing bearish sentiment in the market.