Pudgy Penguins

President Trump

<p>Today’s edition of the weekly recap spotlights Poland’s stance against Bitcoin reserves, Tornado Cash developer Alexey Pertsev’s upcoming release, and the scrutiny Kalshi and Crypto.com face ahead of Super Bowl LIX.</p>
<h3 class="wp-block-heading" id="cftc-scrutinizes-crypto-platforms-over-super-bowl-lix-betting">CFTC scrutinizes crypto platforms over Super Bowl LIX betting</h3>
<ul>
 <li>The Commodity Futures Trading Commission is <a href="https://crypto.news/cftc-crypto-com-kalshi-super-bowl-contracts/" target="_blank" rel="noopener noreferrer nofollow">investigating</a> Crypto.com and Kalshi regarding the compliance of their Super Bowl derivatives contracts.</li>
 <li>The regulatory inquiry <a href="https://crypto.news/robinhood-super-bowl-betting-contracts-shutdown-cftc/" rel="noopener noreferrer nofollow">focuses</a> on whether these sports-related derivative products meet existing regulatory requirements, despite CEO Kris Marszalek’s assertion that the platform was regulated at launch.</li>
 <li>Kalshi is not considered a sports betting app and allows users to buy and trade contracts on the outcomes of various events. And Crypto.com <a href="https://crypto.news/crypto-com-rejects-the-cftcs-request-to-suspend-super-bowl-sports-contracts-in-50-states-report/" rel="noopener noreferrer nofollow">rejected</a> the CFTC’s request to suspend Super Bowl sports contracts.</li>
 <li>Americans are expected to <a href="https://www.axios.com/2025/02/04/super-bowl-legal-sports-betting-estimate-cheifs-eagles" target="_blank" rel="noopener noreferrer nofollow">gamble</a> a record-breaking $1.39 billion on the game between the Philadelphia Eagles and the Kansas City Chiefs. That’s an 11.2% increase from last year, as reported by Axios, citing research firm Eilers &amp; Krejcik Gaming.</li>
</ul>
<h3 class="wp-block-heading" id="polish-central-bank-rules-out-bitcoin-for-reserves">Polish central bank rules out Bitcoin for reserves</h3>
<ul>
 <li>The National Bank of Poland (NBP) has definitively <a href="https://crypto.news/polands-central-bank-rules-out-bitcoin-for-reserves/" target="_blank" rel="noopener noreferrer nofollow">rejected</a> the possibility of adding Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) to its currency reserves, with President Adam Glapiński emphasizing the importance of security in reserve assets.</li>
 <li>During a recent press conference covered by the Warsaw Business Journal, Glapiński stated the bank would not consider Bitcoin “under any circumstances.”</li>
</ul>
<h3 class="wp-block-heading" id="india-considers-shifting-crypto-regulatory-stance">India considers shifting crypto regulatory stance</h3>
<ul>
 <li>India’s economic affairs secretary, Ajay Seth, <a href="https://crypto.news/india-crypto-regulations-us-attitudes-change-report/" target="_blank" rel="noopener noreferrer nofollow">revealed</a> that the government is reviewing its cryptocurrency approach in response to changing global attitudes.</li>
 <li>The review has prompted another delay in releasing the country’s official regulatory discussion paper, which was originally scheduled for September 2024.</li>
</ul>
<p>You might also like: <a href="https://crypto.news/copycat-tokens-flood-market-trump-meme-coin-launch/" rel="noopener noreferrer nofollow"> Over 700 copycat tokens flood market following Trump meme coin launch: report </a></p>
<h3 class="wp-block-heading" id="south-korea-s-bitcoin-kimchi-premium-reaches-10-month-peak">South Korea’s Bitcoin kimchi premium reaches 10-month peak</h3>
<ul>
 <li>The kimchi premium hit 9.7% the morning of Feb. 3 in South Korea, <a href="https://crypto.news/bitcoin-kimchi-premium-hits-3-year-high-as-asia-market/" target="_blank" rel="noopener noreferrer nofollow">marking</a> its highest level since April 2024 when it exceeded 13%, before settling at 8.24%.</li>
 <li>This premium, representing the price difference between South Korean and global bitcoin markets, persists due to the country’s closed market structure and restrictions on foreign investors.</li>
</ul>
<h3 class="wp-block-heading" id="us-spot-bitcoin-etfs-see-increased-inflows">US spot Bitcoin ETFs see increased inflows</h3>
<ul>
 <li>Bitcoin ETFs <a href="https://crypto.news/bitcoin-etfs-rebounded-after-trump-paused-tariffs-on-mexico-and-canada/" target="_blank" rel="noopener noreferrer nofollow">attracted</a> approximately $5.25 billion in January, surpassing December 2024’s $4.53 billion inflow, coinciding with President Trump’s return to office, according to SoSoValue data.</li>
 <li>BlackRock’s IBIT led the growth with $3.23 billion in monthly inflows, bringing its total net assets to $59.39 billion by January 31, representing a $7.67 billion increase over the month.</li>
</ul>
<h3 class="wp-block-heading" id="major-exchanges-secure-european-regulatory-approvals">Major exchanges secure European regulatory approvals</h3>
<ul>
 <li>Coinbase <a href="https://crypto.news/coinbase-wins-fca-approval-to-directly-offer-crypto-in-uk/" target="_blank" rel="noopener noreferrer nofollow">achieved</a> a milestone by becoming the UK’s largest registered crypto exchange after securing Financial Conduct Authority (FCA) approval, enabling new product launches and services.</li>
 <li>Kraken simultaneously expanded its European presence by obtaining a MiFID license through the acquisition of a Cypriot investment firm approved by the Cyprus Securities and Exchange Commission.</li>
</ul>
<h3 class="wp-block-heading" id="more-trump-executive-orders">More Trump executive orders</h3>
<ul>
 <li>President Trump <a href="https://crypto.news/trump-orders-a-us-sovereign-wealth-fund-was-crypto-mentioned/" target="_blank" rel="noopener noreferrer nofollow">signed</a> an executive order Monday directing the Treasury and Commerce Departments to launch a sovereign wealth fund.</li>
 <li>The initiative is important as Treasury Secretary Scott Bessent has shown cautious interest in crypto, while Commerce Secretary nominee Howard Lutnick maintains strong crypto ties through Cantor Fitzgerald’s role as custodian for Tether’s government holdings.</li>
 <li>Trump’s executive order on Jan. 31, imposed tariffs on imports from Mexico, Canada, and China. Although the tariffs on Mexico and Canada remain on pause, the move was enough to <a href="https://crypto.news/crypto-market-turns-red-as-trump-us-tariff-threats-linger/" rel="noopener noreferrer nofollow">rattle</a> investors and spark sell-offs across equities and digital assets alike.</li>
</ul>
<h3 class="wp-block-heading" id="zachxbt-reveals-65-million-coinbase-user-losses">ZachXBT reveals $65 million Coinbase user losses</h3>
<ul>
 <li>On-chain investigator ZachXBT <a href="https://crypto.news/zachxbt-coinbase-users-lose-over-65m-in-widespread-scams/" target="_blank" rel="noopener noreferrer nofollow">reported</a> that Coinbase users lost over $65 million between December 2024 and January 2025 due to social engineering scams, noting the actual figure is likely higher.</li>
 <li>The scammers reportedly used stolen personal information from private databases to convince victims of unauthorized login attempts.</li>
</ul>
<p>You might also like: <a href="https://crypto.news/crypto-vc-funding-taproot-wizards-bags-30m-reservoir-raises-14m/" rel="noopener noreferrer nofollow"> Crypto VC funding: Taproot Wizards bags $30m, Reservoir raises $14m </a></p>
<h3 class="wp-block-heading" id="strategy-rebrands-from-microstrategy-with-major-q4-results">Strategy rebrands from MicroStrategy with major Q4 results</h3>
<ul>
 <li>The company formerly known as MicroStrategy <a href="https://crypto.news/microstrategy-strategy-bitcoin-impairment-loss/" target="_blank" rel="noopener noreferrer nofollow">announced</a> a brand simplification to “Strategy,” incorporating Bitcoin’s iconic orange “B” into its new logo to reflect its focus on Bitcoin treasury operations.</li>
 <li>Fourth quarter results revealed major growth as well as challenges: Operating expenses increased 693% year-over-year to $1.103 billion, with a net loss of $670.8 million ($3.03 per diluted share) despite holding 471,107 BTC.</li>
</ul>
<h3 class="wp-block-heading" id="wazirx-outlines-crypto-recovery-timeline-options">WazirX outlines crypto recovery timeline options</h3>
<ul>
 <li>The hacked Indian crypto exchange <a href="https://crypto.news/is-this-even-real-absolute-joke-wazirxs-restructuring-plan-sparks-furious-outcry/" target="_blank" rel="noopener noreferrer nofollow">presented</a> creditors with two potential recovery timelines: April 2025 or 2030, depending on the outcome of an upcoming voting scheme.</li>
 <li>Creditors must participate in a vote requiring 75% approval by value to activate the April 2025 recovery timeline, as previously approved by a Singapore court.</li>
</ul>
<h3 class="wp-block-heading" id="sec-crypto-task-force-announces-regulatory-priorities">SEC crypto task force announces regulatory priorities</h3>
<ul>
 <li>Commissioner Hester Peirce, leading the newly formed Crypto Task Force, <a href="https://crypto.news/secs-top-crypto-prosecutor-reassigned-to-it-unit/" target="_blank" rel="noopener noreferrer nofollow">shared</a> 10 key priorities, including defining the security vs. commodity classification of cryptocurrencies.</li>
 <li>The task force aims to create a more viable registration path by modifying existing SEC frameworks and clarifying regulations around crypto lending and staking programs.</li>
</ul>
<h3 class="wp-block-heading" id="bybit-completes-indian-registration-after-1-million-fine">Bybit completes Indian registration after $1 million fine</h3>
<ul>
 <li>The Dubai-based crypto exchange <a href="https://crypto.news/bybit-registers-with-indias-fiu-after-settling-1m-non-compliance-penalty/" target="_blank" rel="noopener noreferrer nofollow">finalized</a> its registration with India’s Financial Intelligence Unit (FIU-IND) after paying a 92.7 million-rupee ($1 million) penalty for unauthorized operations.</li>
 <li>Following January’s temporary service suspension, Bybit worked with FIU-IND to address regulatory concerns and ensure compliance with the Prevention of Money Laundering Act and associated regulations.</li>
</ul>
<h3 class="wp-block-heading" id="vaneck-projects-solana-price-target-for-2025">VanEck projects Solana price target for 2025</h3>
<ul>
 <li>Investment firm VanEck <a href="https://crypto.news/solana-price-to-hit-520-by-end-of-2025-vaneck/" target="_blank" rel="noopener noreferrer nofollow">forecasts</a> the Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) price could reach $520 by year-end 2025, based on an autoregressive model predicting a $250 billion market cap with approximately 486 million floating tokens.</li>
 <li>The analysis correlates Solana’s potential market share within the smart contract platform sector to U.S. M2 money supply growth.</li>
</ul>
<p>You might also like: <a href="https://crypto.news/nft-sales-drop-33-to-119-5m-pudgy-penguins-still-lead/" rel="noopener noreferrer nofollow"> NFT sales plummet 33% to $119.5m, Pudgy Penguins still in lead </a></p>
<h3 class="wp-block-heading" id="ransomware-payments-decline-35-in-2024">Ransomware payments decline 35% in 2024</h3>
<ul>
 <li>Chainalysis <a href="https://crypto.news/ransomware-cashouts-down-35-as-victims-snub-demand-chainalysis/" target="_blank" rel="noopener noreferrer nofollow">reports</a> ransomware payments dropped to $814 million in 2024, down from 2023’s record high of $1.25 billion, despite an increase in the number of attacks.</li>
 <li>The decline is attributed to multiple factors, including heightened law enforcement actions, expanded sanctions, and growing resistance from victims refusing to pay attackers.</li>
</ul>
<h3 class="wp-block-heading" id="shiba-inu-partners-with-uae-ministry-for-blockchain-integration">Shiba Inu partners with UAE ministry for blockchain integration</h3>
<ul>
 <li>The UAE’s Ministry of Energy and Infrastructure has <a href="https://crypto.news/shiba-inu-announces-major-web3-partnership-with-uae-government/" target="_blank" rel="noopener noreferrer nofollow">partnered</a> with Shiba Inu (<a href="https://crypto.news/price/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">SHIB</a>) to implement its blockchain applications, specifically the ShibOS operating system, on the Shibarium layer-2 network.</li>
 <li>The collaboration aims to integrate blockchain technology into government services to improve operational efficiency, transparency, and security measures.</li>
</ul>
<h3 class="wp-block-heading" id="berachain-launches-with-billion-dollar-token-airdrop">Berachain launches with billion-dollar token airdrop</h3>
<ul>
 <li>Berachain <a href="https://crypto.news/berachain-lands-on-crypto-com-following-a-wave-of-major-exchange-listings/" target="_blank" rel="noopener noreferrer nofollow">debuted</a> its “proof-of-liquidity” layer-1 blockchain while initiating its BERA token distribution, with airdrop allocations reaching a value of $1.17 billion at Thursday’s peak pricing.</li>
 <li>Trading for BERA <a href="https://crypto.news/berachain-on-steep-decline-despite-crypto-com-listing/" rel="noopener noreferrer nofollow">commenced</a> on major exchanges, including Binance, OKX, and Coinbase.</li>
</ul>
<h3 class="wp-block-heading" id="gemini-explores-potential-ipo-amid-favorable-crypto-climate">Gemini explores potential IPO amid favorable crypto climate</h3>
<ul>
 <li>Crypto exchange Gemini, founded by Tyler and Cameron Winklevoss, is <a href="https://crypto.news/winklevoss-twins-eye-public-listing-of-gemini-bloomberg/" target="_blank" rel="noopener noreferrer nofollow">considering</a> an initial public offering potentially scheduled for this year, Bloomberg reported.</li>
 <li>The exchange’s IPO considerations come as SEC Commissioners Hester Peirce and Mark Uyeda lead efforts to create clearer regulatory frameworks for the cryptocurrency industry.</li>
</ul>
<p>Read more: <a href="https://crypto.news/cftc-mulling-review-of-crypto-com-futures-contracts-linked-to-super-bowl-bets-report/" rel="noopener noreferrer nofollow"> CFTC mulling review of Crypto.com futures contracts linked to Super Bowl bets: report </a></p>

Super Bowl betting, Polish central bank rejects Bitcoin, MicroStrategy rebrands | Weekly Recap

Indice dei contenuti

crypto.news

Altri articoli pubblicati su 9 feb 2025

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!