BTC is currently trading around $103,300 and ETH around $3,250. Notable gainers in the last 24 hours are MNT, KCS, and ETC. The global crypto market cap is $3.69T, down 1.5% over the last day. DeFi Total Value Locked is ~$123b and BTC dominance is around 59%.
Crypto prices are slightly lower after Trump unveiled an executive order aiming to strengthen American leadership in digital financial technology. Specifically, the order establishes the Presidential Working Group tasked with developing a digital assets regulatory framework and evaluating the creation of a strategic national digital assets stockpile. All eyes now turn to the Bank of Japan, which many believe may raise interest rates for the first time since July (and which subsequently spurred significant market turmoil).
Notable news includes: China allegedly sold its entire $20b of BTC holdings seized from the PlusToken scandal, per CryptoQuant; Trump reaffirmed a commitment to make the US the world capital of crypto and AI at Davos; a US Democratic lawmaker called for an ethics probe related to Trump’s crypto projects; Senator Lummis was selected to lead the Senate Banking Subcommittee on digital assets; Harry Jung was appointed as CFTC Acting Chief of Staff to lead the agency’s engagement on crypto; Coinbase petitioned an appeals court to determine whether trades on its platform fall under federal securities laws; Binance Labs rebranded to YZi Labs; OKX secured MiCA pre-authorization to expand services in Europe; crypto exchange Phemex investigated a potential hack after $29m was drained; WazirX received a Singapore court’s approval to repay victims of its $235m hack; the CME clarified that no official decision has been made on XRP and SOL futures contracts; Bitwise filed for a Dogecoin ETF; Morgan Stanley stated it is looking into offering crypto services; publicly listed real estate company Fathom announced a Bitcoin treasury strategy; Circle launched Paymaster to enable users to pay gas fees with USDC; Justin Sun outlined plans to revolutionize stablecoin transactions by eliminating fees; Bitcoin development firm Blockstream debuted a new asset management business; kidnapped Ledger cofounder David Balland was released; a Wall Street bond trader revealed his Etherealize startup to connect crypto and traditional finance; and, Chainalysis reported that half of TRUMP and MELANIA memecoin holders had never bought a Solana altcoin before.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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