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<p>The launch of spot Bitcoin exchange-traded funds (ETFs) in the United States caused a sell-off in crypto, but the ETF industry saw a successful first week of trading, despite Bitcoin&#39;s 6.6% tumble.</p><p>Meanwhile, Elon Musk&#39;s &#34;everything app&#34; X (formerly known as Twitter) has sparked speculation with the creation of a dedicated account for its upcoming payments feature.</p><p>With the ETF hangover over, attention now turns to the upcoming Bitcoin halving, which could be influenced by the recent ETF developments.</p><p>At this point, let us direct our attention towards the most significant and compelling crypto stories of the week. There are further developments that may exceed your expectations.</p><p>For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to <a href="https://melega.finance/" rel="noopener noreferrer nofollow">visit our website</a> and follow Melega Finance (<a href="https://twitter.com/melegadex" rel="noopener noreferrer nofollow">&#64;melegadex</a>) on Twitter for more on all things cryptocurrency.</p><h2 id="header-0">TOP CRYPTO NEWS RECAP (JANUARY 14–JANUARY 20, 2024)</h2><p>●  Trump Vows to Block Central Bank Digital Currency in Presidential Campaign</p><p>●  Ethereum&#39;s &#34;Dencun&#34; Upgrade Launches on Goerli Testnet, Overcomes Initial Bug</p><p>●  SEC vs. Terraform Labs Trial Delayed to March as Co-founder&#39;s Extradition Continues</p><p>●  ProShares Seeks Approval for New Bitcoin ETFs Amid Market Shift</p><p>●  FTX Founder&#39;s Parents Seek Dismissal in Lawsuit Over Alleged Exploitation</p><p>●  Trezor Security Breach Exposes 66,000 Users&#39; Contact Information</p><h3 id="trump-vows-to-block-central-bank-digital-currency-in-presidential-campaign">Trump Vows to Block Central Bank Digital Currency in Presidential Campaign</h3><p>Former President Donald Trump, during<a href="https://x.com/manofbert/status/1747817820581167133?s&#61;20" rel="noopener noreferrer nofollow"> a campaign speech</a> in New Hampshire, pledged to prevent the Federal Reserve from creating a central bank digital currency (CBDC) in the U.S. Trump emphasized the danger of such a currency, asserting it would grant the government absolute control over citizens&#39; money. The announcement, which, with applause, highlighted Trump&#39;s commitment to safeguarding Americans from potential threats to freedom.</p><p>This stance echoes a similar pledge by fellow Republican candidate Ron DeSantis, emphasizing the significance of the crypto movement in the 2024 presidential election.</p><h3 id="ethereum-39-s-34-dencun-34-upgrade-launches-on-goerli-testnet-overcomes-initial-bug">Ethereum&#39;s &#34;Dencun&#34; Upgrade Launches on Goerli Testnet, Overcomes Initial Bug</h3><p>The latest Ethereum network upgrade, &#34;Dencun,&#34; has successfully debuted on the Goerli testnet. Despite a four-hour delay caused by a bug, Ethereum developer Parithosh Jayanthi swiftly<a href="https://x.com/parithosh_j/status/1747564353467936817?s&#61;20" rel="noopener noreferrer nofollow"> addressed the issue</a>, emphasizing the team&#39;s efficient debugging process.</p><p>The Dencun upgrade, once applied to the mainnet, is poised to significantly reduce transaction costs on Ethereum layer 2s and introduce features like limited self-destruct operations, new bridge capabilities, and staking pools. Scheduled for further testing on Jan. 30 and Feb. 7, the mainnet implementation date remains undisclosed.</p><h3 id="sec-vs-terraform-labs-trial-delayed-to-march-as-co-founder-39-s-extradition-continues">SEC vs. Terraform Labs Trial Delayed to March as Co-founder&#39;s Extradition Continues</h3><p>A federal judge in the U.S. District Court for the Southern District of New York <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.594150/gov.uscourts.nysd.594150.166.0.pdf" rel="noopener noreferrer nofollow">has postponed </a>the SEC v. Terraform Labs trial to March 25, granting a request from co-founder Do Kwon to assist in his defense in person.</p><p>Kwon, arrested in Montenegro for falsifying travel documents, faces charges related to a &#34;multi-billion dollar crypto asset securities fraud.&#34; While it remains uncertain if Kwon will be released for the trial, pretrial motions have progressed, including a recent summary judgment in favor of the SEC regarding unregistered securities.</p><h3 id="proshares-seeks-approval-for-new-bitcoin-etfs-amid-market-shift">ProShares Seeks Approval for New Bitcoin ETFs Amid Market Shift</h3><p>ProShares, a leading ETF issuer, aims to introduce <a href="https://www.sec.gov/Archives/edgar/data/1174610/000168386324000107/f37305d1.htm" rel="noopener noreferrer nofollow">leveraged and inverse Bitcoin ETFs</a> in the wake of the recent launch of spot Bitcoin ETFs. The proposal includes five ETFs, such as Plus Bitcoin ETF and Ultra Bitcoin ETF, seeking daily returns linked to a 1.5x and 2x increase in the Bloomberg Galaxy Bitcoin Index.</p><p>Notably, ProShares emphasizes these funds won&#39;t directly short Bitcoin but aim to benefit from price declines. The move follows the SEC&#39;s approval of the first 10 spot Bitcoin ETFs, marking a strategic shift for ProShares from futures-based to spot-based crypto ETFs.</p><h3 id="ftx-founder-39-s-parents-seek-dismissal-in-lawsuit-over-alleged-exploitation">FTX Founder&#39;s Parents Seek Dismissal in Lawsuit Over Alleged Exploitation</h3><p>Joseph Bankman and Barbara Fried, parents of former FTX CEO Sam Bankman-Fried, are pushing for the<a href="https://www.courtlistener.com/docket/67806768/20/ftx-trading-ltd-adversary-proceeding/" rel="noopener noreferrer nofollow"> dismissal of a lawsuit by FTX</a>. They argue the suit attempts to leverage their connection to the ex-CEO rather than proving their knowledge or involvement in FTX&#39;s alleged misconduct.</p><p>FTX had accused the parents of exploiting their influence for personal gain during the crypto exchange&#39;s bankruptcy. The defense contends that claims lack substance and should be dismissed for failure to demonstrate a plausible breach of fiduciary duty or fraudulent transfers.</p><h3 id="trezor-security-breach-exposes-66-000-users-39-contact-information">Trezor Security Breach Exposes 66,000 Users&#39; Contact Information</h3><p>Cryptocurrency hardware wallet manufacturer Trezor has <a href="https://blog.trezor.io/trezor-security-update-stay-vigilant-against-potential-phishing-attack-bb05015a21f8" rel="noopener noreferrer nofollow">reported a security breach</a> revealing the contact details of approximately 66,000 users. Unauthorized access to a third-party support portal was detected on January 17, impacting users who have interacted with Trezor&#39;s support team since December 2021.</p><p>While the company assured that users&#39; funds remained secure, at least 41 users received phishing emails requesting recovery seed information. Trezor emphasized the importance of notifying affected users promptly and reiterated that no recovery seed phrases were disclosed during the incident.</p><h2 id="header-1">NEWS FROM MELEGA ECOSYSTEM</h2><h3 id="a-href-https-grokslabratory-vercel-app-rel-noopener-noreferrer-nofollow-groklabs-groklabs-farm-pool-listed-on-melegaswap-a"><a href="https://grokslabratory.vercel.app/" rel="noopener noreferrer nofollow">GrokLabs (GrokLabs) Farm &amp; Pool Listed on MelegaSwap</a></h3><p>GrokLabs is an innovative cryptocurrency project merging internet memes with crypto legends. Inspired by the iconic meme sensation Grokinu, it brings together humor, online culture, and excellence in a unique coin. <a href="https://t.me/melegachannel/430" rel="noopener noreferrer nofollow">Learn more.</a></p><h3 id="">•••</h3><p><em><strong>Risk warning: </strong>Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.</em></p><h3 id="trade-with-the-best-decentralized-amm-cryptocurrency-exchange">Trade with the best decentralized AMM cryptocurrency exchange</h3><p>Do you want to buy, sell, and invest in cryptocurrencies while still having 100% control of your crypto assets? If yes, then Melega Finance is for you. MelegaSwap is a leading automated market maker (AMM) decentralized exchange that offers users various options to trade and earn free tokens at high-interest rates and low charges.</p><p>At Melega, nobody manages your funds for you because you manage them directly from your wallet, while smart contracts transparently take care of everything else.</p><p><strong>Learn More About the Melega Ecosystem</strong></p><p>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p><p>Website:<a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow"> https://melegaswap.finance</a></p><p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</a></p><p>Telegram: <a href="https://t.me/melegacommunity" rel="noopener noreferrer nofollow">https://t.me/melegacommunity</a></p><p>Twitter: <a href="https://twitter.com/melegadex" rel="noopener noreferrer nofollow">https://twitter.com/melegadex</a></p><p>Binance Feed Page: <a href="https://www.binance.com/en/feed/profile/212703589" rel="noopener noreferrer nofollow">https://www.binance.com/en/feed/profile/212703589</a></p><p>Instagram: <a href="https://www.instagram.com/melega.finance/" rel="noopener noreferrer nofollow">https://www.instagram.com/melega.finance/</a></p><p>YouTube:<a href="https://www.youtube.com/channel/UC_kjHoXOkPSSB4HeHNZMq-Q" rel="noopener noreferrer nofollow"> Melega Finance Official</a></p>

Crypto Weekly Recap: Trump, Ethereum, FTX, SEC & More (January 14–20, 2024)

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