Today's News Highlights:
The U.S. Federal Deposit Insurance Corporation (FDIC) releases 175 regulatory documents related to cryptocurrency banks.
NYSE applies to convert Grayscale Litecoin Trust into a spot LTC ETF.
MicroStrategy Q4 financial report: net loss of $670.8 million, purchased over 210,000 BTC.
MicroStrategy announces rebranding to Strategy to emphasize its cryptocurrency-centric business.
Berachain announces token economics and opens airdrop inquiry.
Jupiter regains control of its official X account after being attacked; customer or project funds were never at risk.
Over $700,000 ETH marked as North Korean hackers on Hyperliquid has been liquidated.
Lingkong Games: has never engaged in any business cooperation with Oneness Labs and has no relation to the "SHOWA token."
DYOR co-founder: The average entry price for Berachain VC is approximately $1.207.
Regulation/Macro
According to the FDIC's official website, the U.S. Federal Deposit Insurance Corporation (FDIC) today released 175 documents concerning the regulatory status of banks involved in or attempting to engage in cryptocurrency-related businesses.
Acting Chairman Travis Hill stated that the FDIC had previously disclosed 25 "cease and desist" letters received by 24 banks, and the documents released today include more correspondence from these banks, as well as related communications from other banks. The documents indicate that banks' requests for cryptocurrency business have generally faced resistance, including repeated demands from regulators for additional information, long periods without response, or direct instructions to suspend all cryptocurrency and blockchain activities, leading most banks to ultimately abandon related attempts.
Hill noted that the FDIC is reassessing its regulatory approach to cryptocurrency-related businesses and plans to replace the 2022 regulatory guidance (FIL 16-2022) to provide a compliance pathway for banks engaging in cryptocurrency activities while ensuring safety and soundness. The FDIC will also participate in the presidential working group to align with the presidential executive order on January 23 regarding the regulation of the digital asset market.
New Mexico Senator submits Strategic Bitcoin Reserve Bill
New Mexico Senator Anthony Thornton has submitted the "Strategic Bitcoin Reserve Bill," proposing to invest 5% of public funds in Bitcoin.
A Brazilian lawmaker proposes a draft bill allowing Brazilian funds to invest in cryptocurrencies
Brazilian lawmaker Adriana Ventura has proposed a bill that would allow Brazilian investment funds to directly invest in cryptocurrencies such as Bitcoin. This measure aims to "provide a regulated and secure environment." Adriana Ventura stated that this would enable funds to "diversify their investment portfolios." The main focus of the bill is to allow investors to offset losses and increase the exemption limit for net gains from stock-related transactions. However, the draft bill also includes a provision allowing "investment funds registered in Brazil" to purchase cryptocurrencies from companies registered and operating in the country. Currently, major institutional investors in Brazil cannot directly invest in cryptocurrencies. Some believe this is out of sync with the rapid expansion of Brazil's retail cryptocurrency market. Many claim that Brazil's cryptocurrency market is the largest in the entire Latin American region.
CFTC imposes $130 million fine on EmpiresX founder for cryptocurrency fraud
The U.S. Commodity Futures Trading Commission (CFTC) announced that a U.S. federal court has ordered the Brazilian founder of the illegal cryptocurrency investment platform EmpiresX to pay over $130 million in fines and restitution.
On February 4, U.S. District Judge Cecilia Altonaga for the Southern District of Florida imposed a permanent injunction, economic penalties, and other legal actions against EmpiresX founders Emerson Pires, Flavio Goncalves, and their partner Joshua Nicholas. The case was initially filed on June 30, 2022, and a default judgment was ultimately made due to the defendants' failure to respond to the charges by the deadline.
According to court documents, Empires Consulting operated a fraudulent investment scheme called EmpiresX, which falsely promised high returns to investors. Pires and Goncalves were accused of obtaining at least $40 million from victims through false cryptocurrency advertisements. The founders did not invest these funds as promised but instead misused them to purchase Bitcoin and Ethereum while restricting withdrawals and displaying false profits from non-existent investments. The EmpiresX founders used these funds for personal expenses, including luxury purchases and travel. Nevertheless, investigators managed to recover approximately $22.8 million in digital currency from them.
Project Updates
Ondo Finance announces the launch of RWA tokenization platform Ondo Global Markets
RWA protocol Ondo Finance has announced the launch of a tokenization platform focused on stocks, bonds, and ETFs called Ondo Global Markets (Ondo GM), allowing investors to access the U.S. securities market via blockchain.
The platform supports thousands of RWAs (real-world assets), offering 1:1 backed tokenized stocks and ETFs that can be freely transferred, traded, and lent 24/7, lowering investment barriers and increasing liquidity. Ondo Finance claims that Ondo GM will make the securities market as accessible as stablecoins to the U.S. dollar, officially launching within this year.
Binance HODLer airdrop launches Berachain (BERA)
According to Binance's announcement, Berachain (BERA) has become the seventh project in the HODLer Airdrops program. Users who subscribe to the BNB to Simple Earn product between January 22 and January 26, 2025, will receive BERA airdrop rewards.
Binance will list BERA on February 6, 2025, at 13:00 (UTC) and open trading pairs for BTC, USDT, USDC, BNB, FDUSD, and TRY.
Key information:
- Total airdrop amount: 10 million BERA (2% of the total genesis supply)
- Circulating supply at listing: 107.48 million BERA (21.5% of the total genesis supply)
- Network: Berachain mainnet (can be queried after public launch)
- Inflation mechanism: 10% annual increase
- An additional 5 million BERA will be used for market promotion after 12 months.
Solana chain meme coin PAIN announces it will refund 80% of presale funds
According to an official announcement from PAIN, it raised 185,976 SOL within 48 hours, setting a record for the highest dollar value presale of a meme coin on the Solana chain.
As the official meme coin of "Hide the Pain Harold," PAIN aims to express pain rather than increase investors' losses. The team announced it will refund 80% of the presale funds, retaining only 20% for launching liquidity, paying listing fees, etc. The distribution plan will be calculated based on the proportion of SOL invested by users, but 0.9 SOL from bot addresses and 212.3 SOL from CEX funds will not be distributed. All funds sent after block 318346069 will also be refunded.
NYSE applies to convert Grayscale Litecoin Trust into a spot LTC ETF
According to disclosed documents, the New York Stock Exchange (NYSE) has submitted a 19b-4 form to apply for converting the Grayscale Litecoin Trust into a spot Litecoin ETF.
This application is part of a proposed rule change that will be reviewed by the SEC (U.S. Securities and Exchange Commission), and the public can submit comments on it. If approved, this would be another compliant spot cryptocurrency asset ETF following Bitcoin and Ethereum ETFs, potentially bringing new liquidity and investment opportunities to the LTC market. The SEC has previously approved Bitcoin spot ETFs and is currently reviewing other cryptocurrency asset ETF applications.
Pudgy Penguins destroys 12.16 billion unclaimed PENGU, accounting for 13.69% of total supply
According to an official announcement from Pudgy Penguins, after the (airdrop) claim period ended, the team has destroyed 12,164,667,616 $PENGU, accounting for 13.69% of the total supply.
MicroStrategy Q4 financial report: net loss of $670.8 million, purchased over 210,000 BTC
MicroStrategy (now "Strategy") has released its fourth-quarter financial performance, with its Bitcoin holdings nearly doubling. The operating expenses for the quarter reached $1.103 billion, a year-on-year increase of 693%. The company reported a net loss of $670.8 million, with total revenue of $120.7 million, approximately $3 million below general expectations, and a 3% decrease from the previous year. As of December 31, 2024, the company's cash and cash equivalents stood at $38.1 million, down from $46.8 million in the same period last year.
Strategy currently holds 471,107 Bitcoins, valued at approximately $4.4 billion. The fourth quarter saw the largest increase in the company's quarterly Bitcoin holdings, ultimately acquiring 218,887 BTC for $2.05 billion. The company reported a BTC yield of 74.3% year-to-date.
MicroStrategy announces rebranding to Strategy to emphasize its cryptocurrency-centric business
According to the official announcement, MicroStrategy has announced its rebranding to Strategy to emphasize its cryptocurrency-centric business. The announcement states that the company will now operate under the name Strategy. This brand simplification is a natural evolution for the company, reflecting its focus and broad appeal. The new logo includes a stylized "B," representing the company's Bitcoin strategy and its unique position as a Bitcoin financial company. The primary color of the brand is now orange, symbolizing energy, wisdom, and Bitcoin.
Berachain announces token economics and opens airdrop inquiry
Berachain Foundation has announced that the Berachain airdrop inquiry is now open, and tokens can be claimed on February 6, 2025, through various EVM wallets such as Metamask and OKX Wallet. The total supply of BERA Genesis period tokens is 500 million, with 16.8% allocated to initial core contributors, including advisors and members; 34.3% allocated to investors, distributed to seed round, Series A, and Series B investors; 15.8% allocated for community airdrops, including testnet users, Berachain NFT holders, ecosystem NFT holders, social supporters, ecosystem dApps, community builders, etc.; 13.1% for future community incentives; and 20% for ecosystem and R&D, to support ecosystem development, R&D, growth plans, and the operations of the Berachain Foundation.
All parties follow the same vesting schedule:
- Initial unlock: After a one-year cliff, 1/6 of the allocated tokens will be unlocked.
- Linear vesting: The remaining 5/6 of the tokens will vest linearly over the following 24 months.
Jupiter's official X account suspected of being attacked, releasing token CA
Jupiter's official X account is suspected to have been hacked, releasing token CA.
Jupiter: Customer or project funds were never at risk, all members are safe
Jupiter tweeted that it has regained control of its X account. It is important to clarify that customer or project funds were never at risk. All programs and funds are stored in secure multi-signature wallets. Other communication channels were not affected. Fortunately, all team members are safe. Jupiter is completely secure, and the issue is limited to Twitter, which has now been controlled.
Bithumb to list Berachain (BERA)
According to the official announcement, the South Korean cryptocurrency exchange Bithumb will list Berachain (BERA), with trading expected to start at 9 PM on February 6 (UTC+8).
OKX to list BERA (Berachain) spot trading
According to the official announcement, OKX will list BERA (Berachain) for spot trading. The trading open time is set for 9 PM on February 6 (UTC+8).
Upbit to list BTC and USDT trading pairs for Jito (JTO) and Scroll (SCR)
According to the official announcement, Upbit will list BTC and USDT trading pairs for Jito (JTO) and Scroll (SCR).
Upbit to list BERA KRW, BTC, USDT trading pairs
According to the official announcement, Upbit will list Berachain (BERA) trading pairs for KRW, BTC, and USDT.
Opinions
Standard Chartered predicts Bitcoin will rise to $500,000 during Trump's term
Standard Chartered predicts that Bitcoin will rise to $500,000 during Trump's term, approaching half of gold's market value. BTC is expected to reach $200,000 in 2025, rise to $300,000 in 2026, surpass $400,000 in 2027, and hit $500,000 in 2028, with a total market cap of $10.5 trillion. Key driving factors include the Bitcoin spot ETF attracting $39 billion in inflows, improvements in the U.S. regulatory environment, and the Trump administration considering establishing a national digital asset reserve. Standard Chartered believes that as volatility decreases, Bitcoin's share in investment portfolios will increase, attracting more traditional investors and driving long-term growth.
DYOR co-founder: The average entry price for Berachain VC is approximately $1.207
DYOR co-founder hitesh.eth tweeted that Berachain raised $142 million at an average valuation of $414 million by allocating about 34.3% of the supply to VCs. The average entry price for VCs is approximately $1.207. If BERA matches the unrealized VC returns of SUI (about 15 times), the token should list at a price above $15 at launch, but this possibility is low. If the token matches the unrealized VC returns of Sei (about 10 times), it should list at a price above $10. Therefore, the bullish scenario for BERA will be between $10 and $15, while the bearish scenario will be between $5 and $10.
Eric Trump, Trump's son: Now is a good time to buy BTC
Eric Trump, Trump's son, tweeted that now is a good time to buy BTC and mentioned the Trump family's crypto project WLFI.
Earlier news on February 4, Eric Trump stated on the X platform: "In my opinion, it‘s a great time to add ETH."
Lingkong Games' official Weibo released a statement: Noticing the emergence of false information online regarding "Oneness Labs acquiring equity in the developer of Showa American Story and launching the $SHOWA cryptocurrency," we hereby clarify:
"Showa American Story" is a game product under Lingkong Games. Lingkong Games has never engaged in any business cooperation with Oneness Labs, nor has it ever discussed equity transactions with Oneness Labs. All financing and cooperation information for Lingkong Games will be based on official announcements.
Lingkong Games and its game "Showa American Story" have no relation to the so-called "$SHOWA token." Lingkong Games has never granted Oneness Labs any rights related to the "Showa American Story" game, nor has it authorized any organization or individual to issue any virtual currency or financial products. Lingkong Games firmly opposes and resists the use of game IP for illegal financial activities. Any virtual currency issuance related to Lingkong Games or "Showa American Story" is fabricated false information, and Lingkong Games bears no responsibility for this, urging players and users to be vigilant to avoid unnecessary losses due to false information.
Lingkong Games reserves all rights to pursue legal responsibility against Oneness Labs and related parties for spreading false information. Lingkong Games calls on players, users, media, and partners not to forward or disseminate false information.
Important Data
Ethereum spot ETF saw a net inflow of $18.1052 million yesterday, continuing a 5-day net inflow
Over $700,000 ETH marked as North Korean hackers on Hyperliquid has been liquidated
According to lmk.fun (formerly Scopescan), the North Korean hackers who previously traded on Hyperliquid had $704,000 worth of ETH liquidated, currently holding $2,872.
Earlier news, crypto KOL Tay stated on the X platform that he has detected multiple marked North Korean hacker addresses trading on Hyperliquid recently, with total losses exceeding $700,000.
The derivatives market CME Group released its market statistics for January 2025, revealing that the number of contracts on its platform reached 27.5 million, with an average daily trading volume (ADV) increasing by 2% year-on-year. In terms of cryptocurrencies, CME's cryptocurrency contracts reached 198,000 in January (nominal value of $13.6 billion), with the average daily trading volume for micro Bitcoin futures increasing by 255% year-on-year to 84,000 contracts; the average daily trading volume for micro Ethereum futures increased by 223% year-on-year to 69,000 contracts.
Multiple whales withdraw WIF and PEPE from Binance
According to Spot On Chain monitoring, multiple whales are withdrawing $WIF and $PEPE from Binance today.
- Whale "0xf37" withdrew 37.535 billion PEPE ($3.73 million) 3 hours ago, marking the whale's first accumulation.
- Whale "A3kTT" returned after two years of dormancy and withdrew 6.5 million WIF ($5.19 million) 9 hours ago.
- Whale "4x3M8" withdrew 9 million WIF ($7.42 million) 11 hours ago.
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