Strategy Opens the Door to Selling Bitcoin | CoinDesk Daily

**Sam Ewen** (0:00)
Strategy clears the way to start selling its Bitcoin, and US-spot Bitcoin ETFs just logged their worst record. This is CoinDesk Daily.
Michael Saylor's Strategy unveiled a new capital framework that clears the way for the company to sell Bitcoin. The company stressed it isn't obligated to sell any. Strategy also authorized up to 1 billion in buybacks of its common stock and another 1 billion of its digital credit securities, and raised the dividend on its STRC preferred stock to 12%.
US-spot Bitcoin ETFs have bled $4 billion this month, the largest monthly outflow on record. Last week alone saw 1.79 billion pulled, the second biggest weekly redemption since the funds launched in January 2024 Combined with May's redemptions, investors have yanked nearly 6.5 billion over two months. And finally, BitMEX has cleared out its entire executive team, losing its CEO, CFO and Chief Growth Officer. The shakeup comes as the exchange is reportedly hunting for a buyer, looking to cut costs and appear more attractive amid the broader downturn. BitMEX was co-founded in 2014 by Arthur Hayes, and later pleaded guilty to US anti-money laundering charges in 2020 Get more updates on coindesk.com.