What Happened in Crypto Today: Something Just Broke the Internet Again
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What Happened in Crypto Today: Something Just Broke the Internet Again

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Created 1w ago, last updated 8h ago

Here is a 2-minute breakdown of everything important that happened in crypto today.

What Happened in Crypto Today: Something Just Broke the Internet Again

Table of Contents

This weekend was WILD. And I mean the kind that makes you question if crypto Twitter is even real anymore.

First, Trump dropped his own token. And where did he choose to launch it? Solana.

The market's reaction? Solana shot up to $294.33 within a few hours. Even after cooling off around $240-250, that's still something to write home about.

But that’s not it. Just when traders thought they could catch their breath, Melania jumped into the mix with her own token. And Trump? He's out there promoting it on all his social accounts.

So what's really going on here? Let's make sense of it all! Here's a quick rundown of the top headlines from the past 24 hours:

  • TRUMP and MELANIA tokens hit $15B and $5B market caps respectively, but 90% of MELANIA's supply is in one wallet. Is this a coordinated move or something else entirely? 🤔
  • MicroStrategy's Saylor drops a cryptic "Things will be different tomorrow" tweet right before the inauguration. What are they planning for inauguration day? 🚀
  • A crypto founder paid LA cops $100K monthly for "security" before attempting a $100M heist. How did they get caught? 🕵️
  • Google searches for "buy crypto" and "buy Solana" hit all-time highs after Trump's token launch. Is this the start of a new wave of crypto adoption? 📈
  • Major ETF providers flood SEC with crypto applications as Gensler prepares to exit. What are the chances of Solana and XRP ETFs getting approved this year? 📊

Let's dive in!

The Trumps Are Taking Over Crypto - But Not Together

Donald Trump's official TRUMP token was dominating the crypto space with a $15 billion market cap. Then Melania Trump launched her own memecoin, and things got interesting.

MELANIA token hit $5 billion in market cap within its first hour - and Donald Trump himself shared it with his followers. At the same time, his own TRUMP token dropped over 38%, wiping out $5 billion in value.

The launch comes just one day before Trump's presidential inauguration. But here's where it gets curious: blockchain analysts discovered that about 90% of MELANIA's supply is sitting in a single wallet.

Coinbase's Conor Grogan pointed out something else interesting. The wallet that funded MELANIA's creation has been active on Solana's memecoin launchpad pump.fun, suggesting this might be a completely different team than the one behind TRUMP token.

Is this a strategic move by the Trumps, or something else entirely? And what happens to both tokens after the inauguration? Read the full story!

Trump's Memecoin Just Changed The Way People See Crypto

Google search data just revealed something fascinating: "buy crypto" and "buy Solana" searches hit their absolute peak as Trump's official memecoin took over crypto headlines.

Even more interesting? "Coinbase" and "crypto app" searches also maxed out. It seems Trump's entrance into crypto is bringing in waves of newcomers who've never touched digital assets before.

The TRUMP token started with skepticism - many thought his X account was hacked when he announced it. But after his team confirmed its authenticity, things went wild.

BitMEX's Arthur Hayes thinks this is just the beginning. He's predicting a $100 billion value by inauguration day. But he sees something bigger here - a potential new era where political accountability moves onto the blockchain.

But how is he backing his wild prediction? Read the full story!

The World's Biggest Bitcoin Buyer Is Getting Ready For More

Michael Saylor just posted his weekly Bitcoin chart - and it's turning into quite the pattern.

For 11 straight weeks, these posts have signaled MicroStrategy's next-day Bitcoin purchases.

MicroStrategy already owns 450,000 Bitcoin, worth about $47.3 billion. They're up 69% on their investment, but they're not slowing down. Just last week, they added another 2,530 BTC worth $243 million to their stack.

What makes this week's signal particularly intriguing is Saylor's cryptic message: "Things will be different tomorrow." The timing lines up perfectly with Trump's inauguration day.

This is all part of MicroStrategy's ambitious "21/21 plan" - their strategy to raise $42 billion for Bitcoin purchases.

So what's MicroStrategy planning for inauguration day? And could their strategy actually influence national policy? Read the full story!

LA Cop Helped Crypto Founder Stage a Heist

A crypto platform founder and an LA County Sheriff's deputy just admitted to one of the most bizarre crypto crimes we've seen in 2024.

Adam Iza, the 24-year-old behind Zort trading platform, had quite an interesting business strategy. Instead of focusing on development and marketing, he decided to pay $100,000 monthly to have off-duty cops as his personal security team.

The partnership with Deputy Eric Saavedra went beyond simple protection. They came up with a plan to steal a laptop containing over $100 million in crypto. Saavedra even created a fake search warrant to make it happen.

But their target wasn't exactly helpless. When the armed crew broke into the victim's home, a warning shot sent them running. Iza, apparently unfazed by the failure, sent the victim a video of the attempted robbery.

What are the exact details of the incident and how did they get caught? Read the full story!

ETF Giants Rush to File Crypto ETFs as Gensler Heads for the Exit

The crypto industry isn't wasting any time. With Gary Gensler's final day as SEC chair approaching on January 20, major players are flooding the commission with ETF applications.

ProShares, the company that brought us the first Bitcoin-linked ETF, just filed for a Solana Futures ETF. They're not alone - CoinShares jumped in with their Digital Asset ETF tracking their own crypto market index.

But that's just the beginning. VanEck wants to launch an "Onchain Economy" ETF investing in everything from miners to exchanges. Tidal DeFi is taking a different approach with their debt strategy ETF, focusing on companies that power the crypto ecosystem.

These companies are betting on Trump's incoming administration taking a friendlier stance toward crypto. Some are even pushing boundaries - ProShares filed for XRP ETFs, joining the growing list of firms eyeing Ripple's token.

ETF analyst Eric Balchunas put it perfectly: "Gensler wasn't even out of the building for five minutes, and the ETF industry unloaded a massive crypto filing frenzy."

So what are the chances of Solana and XRP ETFs getting approved this year? Read the full story!

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