Tesla has used a new crypto accounting rule to book a nearly $600 million net gain on its Bitcoin holdings in the fourth quarter of 2024.
Monthly archives: January 2025
Riot Platforms again eyed for change by activist investor: Report
Investment firm D.E. Shaw has built a stake in Riot Platforms and is pushing the Bitcoin miner to change, Reuters reports.
Trump Media Partners With Charles Schwab in New Crypto Venture Truth.Fi
President Donald Trump’s media and technology group (TMTG) is announcing a partnership with financial services giant Charles Schwab to further venture into the world of decentralized finance (DeFi). In a new press release, TMTG – the firm behind social media platform Truth Social and the video streaming service Truth+ – says it’s collaborating with Charles …
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Solana ‘drinking the Ethereum milkshake’ as DEX market share rises: OKX
Solana has captured around half — and sometimes nearly all — of the DEX volume in the last five weeks, and OKX says it’s extending its dominance over Ethereum.
CME Group to introduce options on Bitcoin Friday futures starting Feb. 24
CME Group announced on Jan. 29 that it would introduce options on its Bitcoin (BTC) Friday futures. The new contracts will launch on Feb. 24. According to the announcement, the contracts are CME’s first financially settled crypto options product, although they are still pending regulatory approval. Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, …
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Fed Chair Jerome Powell says banks can serve crypto clients if risks are managed adequately
Federal Reserve Chair Jerome Powell stated that banks are free to serve with crypto, provided they effectively manage the associated risks. During his speech following the Federal Open Market Committee (FOMC) meeting, Powell added: “The threshold has been a little higher for banks engaging in crypto activities, and that’s because they’re so new.” Despite this …
Binance and OKX lose ground in market share over 2024, while Crypto.com records growth
Crypto.com increased its share of the centralized crypto exchange market in 2024, while industry leaders Binance and OKX saw declines, according to a report from CCData. Among the largest exchanges, Binance, Bybit, and Coinbase led in spot trading volume in December, collectively accounting for 55.7% of total volume — down from 58.4% in November. Centralized …
Coinbase strengthens ties to Washington with Trump campaign manager, ex-senator on advisory board
Coinbase added four high-profile figures as its advisors, including former US Senator Kyrsten Sinema and Chris LaCivita, co-campaign manager for President Donald Trump’s re-election bid. The Coinbase advisory council also welcomes Bill Dudley, the former president of the Federal Reserve Bank of New York, and Luis Alberto Moreno, an expert in global development and international …
DCG launches Fortitude Mining to diversify beyond Bitcoin amid industry challenges
Digital Currency Group (DCG) has announced the launch of Fortitude Mining, a new subsidiary focused on diversifying exposure to high-growth crypto assets and Proof-of-Work ecosystems beyond Bitcoin (BTC). DCG CEO Barry Silbert revealed the move in a social media post on Jan. 29, calling Fortitude Mining the company’s fifth subsidiary. The newly formed entity, originally …
User mints 18,000 tokens on PumpFun, nets $3.8 million in profits
A user created nearly 18,000 tokens via memecoin launchpad Pump.Fun, raking in almost $3.8 million in profits from trades, according to Conor Grogan, a Director at Coinbase. Grogan highlighted that this user creates an average of 12 tokens per hour until he goes to bed and repeats the process the following day. According to a …
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Binance Faces French Probe Over Alleged Money Laundering and Fraud
French authorities have launched a judicial investigation into cryptocurrency exchange Binance over alleged money laundering, tax fraud, and unauthorized operations. The Paris public prosecutor’s office stated that the probe, covering 2019 to 2024, includes suspected money laundering linked to drug trafficking across the EU. Complaints from users who claimed financial losses and misleading information triggered …
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No Rate Cut: Powell’s Steady Hand Defies Political Pressure; Crypto Gains Amid Equity Retreat
Following former President Donald Trump’s declaration that he would “demand” interest rate cuts from the U.S. Federal Reserve, policymakers defied external pressure Wednesday, maintaining the federal funds rate without adjustment. FOMC Monetary Policy Unmoved At its first 2025 gathering on Jan. 29, the Federal Open Market Committee (FOMC) observed that “economic activity has continued to …
USDT0 Launches on Arbitrum With 1:1 Backing, Faster Transfers
Tether has upgraded its USDT stablecoin on Arbitrum to USDT0, a cross-chain compatible asset backed 1:1 by Ethereum-based USDT reserves. Tether Transitions Arbitrum USDT to USDT0 Tether says the upgrade automatically converts existing Arbitrum USDT holdings to USDT0 without requiring user action. USDT0 will serve as Arbitrum’s canonical stablecoin, maintaining the same contract address. Transfers …
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Report: ‘Solana Is Drinking the Ethereum Milkshake’
Cryptocurrency exchange OKX says “Solana’s meteoric ascent redefined the potential of Web3,” in its 2025 “State of DEXs” report. Solana Is Surging While Ethereum Is Fighting for Relevance Says OKX When it comes to dominating volume on decentralized exchanges (DEXs), Solana is eating Ethereum’s lunch – and drinking its milkshake – at least that’s how …
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Bitcoin Technical Analysis: BTC Balances Between Bullish Momentum and Short-Term Resistance
As of Jan. 29, 2025, bitcoin trades at $102,785, hovering within a 24-hour range of $100,272 to $103,053. The cryptocurrency’s market capitalization stands at $2.02 trillion, supported by $35.55 billion in daily trading volume. Bitcoin While bitcoin‘s broader trend remains bullish, consolidation near $102,000 reflects caution among traders, with critical resistance at $104,000–$105,000 and immediate …