Today's News Highlights:
BTC breaks through $109,000, daily increase of 3.95%
Binance contracts to launch MELANIAUSDT 1-25x USDT perpetual contracts
Robinhood announces TRUMP is now live
Trump's wife issues Meme coin MELANIA, current market cap approximately $6.4 billion
$BARRON market cap exceeds $300 million, smart money buys $109,000 for a profit of $1.78 million
Trump to be sworn in at 1 AM Beijing time on January 21
Italian lawmakers urge the country's banking foundations to buy Bitcoin
Regulation/Macro
Thailand plans to launch a crypto regulatory sandbox in Phuket this October
According to the Thai Post, former Prime Minister Thaksin Shinawatra stated that the cryptocurrency sandbox is expected to launch in Phuket in October. While discussing the ASEAN economy, Thaksin mentioned that Thailand is more willing than any other country in the region to promote the development of cryptocurrencies, especially after Donald Trump, the elected president of the United States, plans to adopt cryptocurrencies. He said other countries in the region are also eager to engage in talks with Thailand about cryptocurrencies, which he sees as an opportunity to inject funds into the economic system. When asked about his recent comments inviting ASEAN countries to discuss this issue, Thaksin stated that such discussions are ongoing. He emphasized the need for rapid adoption of cryptocurrencies, as delays could lead to the best talents in the field migrating to the United States. He pointed out that cryptocurrencies should not be confused with gambling, describing them as a new form of currency backed by assets like gold or government bonds. He stated that these currencies are called "stablecoins," which carry less risk than other currencies. He mentioned that Thailand would not accept high-risk cryptocurrencies and expects to launch a cryptocurrency sandbox involving the private sector in October.
TRUMP coin purchase terms include class action waiver clause
According to information from the TRUMP coin official website, the purchase terms for TRUMP coin include a class action waiver clause. The clause states: to the extent permitted by law, participating investors agree not to bring, join, or participate in any class action against any insured party regarding any claims, disputes, or controversies. Investors agree to enter into injunctive relief to stop such lawsuits or to exclude themselves as participants in the lawsuit. Investors agree to pay any attorney fees and litigation costs incurred by any insured party in seeking such relief. This clause prevents investors from bringing, joining, or participating in class actions: (i) does not constitute a waiver of any rights or remedies for investors to bring individual claims, nor does it constitute a waiver of class actions in the aforementioned binding arbitration; (ii) is an independent agreement. Investors may provide written notice of their decision to opt-out of these dispute resolution terms within thirty (30) days from their first visit to the website.
Trump to be sworn in at 1 AM Beijing time on January 21
According to Jinshi, Trump will be sworn in at noon Eastern Time on the 20th (1 AM Beijing time on the 21st) under the supervision of Chief Justice Roberts. Trump will then deliver an inaugural speech. The three major American billionaires Musk, Bezos, and Zuckerberg will attend together. Two sources stated that Trump is preparing to issue a large number of executive orders and directives on his first day in office, potentially exceeding 100, covering topics such as immigration and energy production. The costs of official activities will be covered by Trump's inaugural committee. Except for the costs of the swearing-in ceremony held at the Capitol, which will be borne by taxpayers, all other expenses will be the responsibility of the committee. Bezos, Zuckerberg, Cook, and Altman have each pledged to donate $1 million to the committee. According to media reports, Trump's committee has raised over $170 million this time.
El Salvador increases its holdings by 11 BTC today, current holdings worth over $600 million
On-chain data shows that 37 minutes ago, El Salvador increased its holdings by 11 BTC ($1,113,508), bringing its total holdings to 6,043.18 BTC, valued at $608,264,513.
Italian lawmakers urge the country's banking foundations to buy Bitcoin
According to Decrypt, an Italian lawmaker is urging the country's banking foundations to invest in Bitcoin, believing such investments could accelerate Italy's support for the leading cryptocurrency. However, despite the U.S. pushing for strategic Bitcoin reserves at both national and state levels, he does not believe Italy will establish similar reserves in the short term. Italian lawmaker Marcello Coppo stated in an interview last Friday that banking foundations should allocate a small portion of their income to digital assets like Bitcoin to potentially achieve significant investment returns; investments in Bitcoin by the foundations could stimulate public support for this cryptocurrency, which has long been "overly distrusted" in Italy; we can start from very low-risk areas, and any positive tests can serve as case studies and examples. Previously, on January 14, it was reported that Italian bank Intesa Sanpaolo purchased 11 BTC for approximately 1 million euros.
According to The Block, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Nova Labs, the creator of the Helium network, accusing the company of selling unregistered securities and misleading investors. This is the latest and possibly final enforcement action under outgoing Chairman Gary Gensler. The lawsuit was filed last Friday, targeting three tokens related to Helium: Helium Network Token (HNT), Helium Mobile Token (MOBILE), and Helium IoT Network Token (IoT), with the SEC accusing these tokens of being sold as unregistered securities. The lawsuit also accuses Nova Labs of misleading investors about several high-profile partnerships. Although the company told investors that companies like Nestlé, Lime, and Salesforce were using the network, the lawsuit claims these companies were neither customers nor "users" of the network. The lawsuit states: "In fact, when Nestlé and Lime learned that Nova Labs was publicly bragging about their so-called relationships, each company sent Nova Labs a cease and desist letter." The lawsuit seeks to impose fines on the company and prohibit it from buying, offering, or selling any crypto assets offered as securities. Haleem posted a provocative message on X on Sunday, stating that the lawsuit is "the last gasp of America's crusade against crypto companies' failures." Haleem stated: "The SEC has wasted two years of our time and millions of our dollars chasing down any allegations they could think of… I don't often get angry, but this series of events is infuriating." Regarding the allegations of misleading investors, Haleem stated: "We have resolved this issue in the past and have worked with every company mentioned in the complaint." Haleem concluded: "We will actively defend ourselves and continue the record of failures and blatant lies under Gensler's SEC leadership. Not just for us, but for all DePIN projects. If Helium hotspots are securities, then all DePINs are at risk. We will not let that happen."
Financing/Mergers
OSL completes acquisition of Japanese crypto asset trading platform Coin Best
Hong Kong-listed company OSL has released a voluntary announcement stating that it has completed the acquisition of the licensed Japanese crypto asset trading platform Coin Best, which will become an indirect subsidiary of the OSL Group.
According to official news, the blockchain-based anime platform Oshi announced the completion of $12.5 million in financing, led by Polychain Capital and Superscrypt, with participation from Folius Ventures, Sfermion, The Spartan Group, Nomad Capital, CMT Digital, and others. Oshi is described as an open anime platform based on blockchain, allowing fans to directly support their favorite anime projects and receive exclusive benefits. The platform's IP licensing infrastructure enables IP owners to maintain control over their works while connecting with specialized global partners.
Project Updates
Binance contracts to launch MELANIAUSDT 1-25x USDT perpetual contracts
According to the official announcement, the Binance contract platform will launch the MELANIAUSDT perpetual contract on January 20, 2025, at 17:30 (UTC+8), with a maximum leverage of up to 25 times.
Robinhood announces TRUMP token is now live
Robinhood announced on the X platform that OFFICIAL TRUMP (TRUMP token) is now available for trading on Robinhood.
Trump family's crypto project WLFI buys two more ENS domains, including yatogame.eth
On-chain information shows that the Trump family's crypto project World Liberty (WLFI) multi-signature address has purchased the ENS domains 9290.eth and yatogame.eth again in the past hour. Earlier today, WLFI bought four ENS domains: WorldLiberty.eth, trumpcoin.eth, erictrump.eth, and barrontrump.eth.
WLFI's additional 5% supply has started selling, with a single price increased to $0.05
According to the official website, the Trump family's crypto project World Liberty Financial (WLFI) has started selling an additional 5% supply of 5 billion WLFI tokens, with the price per token increased to $0.05, up from $0.015 in previous sales. Currently, about 550 million of this 5% supply has been sold, valued at $27.5 million.
The Solana re-staking platform Solayer stated on the X platform: "We have obtained over $57.24 million in subscriptions through $10.5 million in community Emerald debit card sales and the first LAYER distribution. Over 40,000 participants and 200,000+ registered users, the public distribution of LAYER has been completed. Emerald debit cards are being distributed."
Network3 to take a snapshot on January 21
According to official news, the decentralized Edge AI infrastructure Network3 announced it will take a snapshot of users at 8 AM UTC on January 21 (4 PM Beijing time). Users who have completed registration and wallet binding prior to this will be eligible to receive airdrops in the future. After the snapshot, software and hardware nodes will switch to producing N3C computing power tokens, which can be exchanged for the mainnet $N3 tokens. Previously, it was reported that Network3's token $N3 will start spot trading on Bybit, Gate.io, and BingX on January 22. Currently, Network3 is holding a Pre-TGE airdrop event, with 50 million tokens as rewards for the community and node users. Users can log in to the Network3 official website to complete designated tasks to receive airdrop quotas of 40,000 points for free. Network3 announced on July 23, 2024, that it completed $5.5 million in seed and seed round financing. Investors include well-known VCs such as Borderless, EV3 Labs, IoTeX, SNZ, Bing Ventures, Waterdrip Capital, and Web3port Foundation.
Students for Trump co-founder denies fraud allegations after selling half of Meme coin "TIKTOK"
According to The Block, conservative activist and Students for Trump co-founder Ryan Fournier faced strong criticism from Meme coin traders for selling half of the supply of a Meme coin created to celebrate TikTok's unban. Fournier stated during an X Space on Sunday night that he came up with the idea for a TikTok-themed Meme coin with a Meme coin trader (presumably X user "Asta") after TikTok relaunched in the U.S. According to the two traders, Asta created the coin and sent half of the supply to Fournier. The coin's value skyrocketed, reaching a market cap of over $90 million. However, when the price began to drop, Fournier admitted to selling his reserves. A wallet previously confirmed by Fournier exchanged 505 million TIKTOK tokens for approximately $700,000 worth of SOL at 20:28 UTC on Sunday. Fournier said, "Suddenly, Asta sold, and then I sold too, so I don't know what happened… I think that person is a scammer, he tricked me, and I followed suit." Although Asta's wallet shows no sales records of TIKTOK tokens, Fournier claimed Asta had been buying the token from other accounts. Fournier denied profiting from the sales during the X Space and repeatedly insisted he was tricked by the token creator, claiming he was "almost at a loss" after buying and then selling the tokens. He said, "We will correct the mistake, no matter what I do, if I have to give you $50,000 in cash, I will find a way to do it. I feel very ashamed of what happened today." Fournier also posted on X that he will stay away from cryptocurrencies in the future, "until I better understand who to trust," as he looks forward to working for President Trump's new administration. However, in the Space, he boasted about his connections with Trump's cryptocurrency advisors.
Justin Sun: TRON DAO adds $45 million investment to Trump family's crypto project WLFI
Justin Sun posted on the X platform: "TRON DAO is continuing to increase its investment in the Trump family's crypto project World Liberty Financial (WLFI), adding $45 million, bringing the total investment to $75 million."
Jupiter: The system is currently under extreme load and is working to recover
The decentralized exchange Jupiter in the Solana ecosystem stated on the X platform: "All our systems are currently under extreme load and are working hard to restore normal service as soon as possible. Notable points: We have increased priority fees and dynamic slippage in automatic mode to help users complete transactions. If you want to try trading with lower fees/slippage, please use manual mode, but be aware that transactions may be difficult to complete. On Solana, if a transaction fails, gas fees will still be deducted, so please trade cautiously. Especially for perpetual contracts, you can increase the chances of successful trading by going long with base assets (such as SOL/BTC/ETH) or going short with USDC."
Phantom stated on the X platform that the request volume has surged to over 8,000,000 requests per minute. During the effort to stabilize the platform, transactions may not be completed smoothly on the first attempt.
Trump's wife issues Meme coin MELANIA, current market cap approximately $6.4 billion
Melania Trump announced on social media early in the morning that people can now buy the Meme coin MELANIA. According to gmgn data, the market cap of MELANIA is currently approximately $6.4 billion. Trump retweeted this information, having previously issued his own exclusive cryptocurrency TRUMP, which plummeted after his wife announced the issuance of MELANIA, briefly dropping below $40 before rebounding, currently rising to $46.
Opinions
Matrixport stated that the launch of the $TRUMP coin over the weekend triggered a trading frenzy, with major centralized exchanges quickly following suit to list the coin. However, the subsequent $SMELANIA coin experienced a rapid price drop after a brief surge, leading to significant losses for buyers on Sunday. This extreme market volatility drove a surge in global trading volume, with Binance's weekend trading volume skyrocketing from $15 billion to $50 billion. Matrixport believes the surge in trading volume is related to multiple factors, including the dovish tone of last week's Federal Reserve meeting and President Trump's positive support for cryptocurrencies. These factors laid the groundwork for upward volatility in the market, with expectations that 2025 may continue or even surpass the previous years' boom in the crypto industry.
According to WOOX Research market observations, BTC entered a pullback after reaching $106,422, and if the pullback does not drop below $97,000, it is considered a normal range, with $89,256 potentially becoming the bottom of this adjustment. The current BTC market share is 58.49%.
Polynomial co-founder Gautham Santhosh warned that the ongoing demand for Ethereum Layer 2 is rapidly depleting the mainnet blob capacity, with 55% of the blobs occupied by the BASE and World Chain. Since last November, the base fee for blobs has repeatedly exceeded $50, leading to a significant increase in user transaction costs. The upcoming Pectra upgrade, set to launch in March, will raise the blob limit per block to 9, but Santhosh believes this will only provide a temporary solution, and long-term scaling will require more solutions.
Dovey Wan, founder of the cryptocurrency fund Primitive Crypto, stated that despite the market being in a bull phase, only a few tokens have reached new highs, reflecting the industry's maturity and the depletion of upper-level funds. She warned that sustainability will be challenged when the market overly relies on a few individuals or projects. Additionally, she emphasized that understanding personal strengths and focusing on suitable areas is key to achieving long-term success.
Zack Guzmán, founder of the crypto media Coinage, posted on the X platform: "There is a very important reason why the Trump family launched TRUMP so quickly before the inauguration and is now launching MELANIA. The fact is, if they wait another day, Trump may (again) face the risk of violating the Constitution and impeachment. According to the Constitution, no president shall abuse their power for personal gain. Specifically, the Emoluments Clause prohibits the president from profiting or receiving benefits from foreign governments."
Former Coinbase CTO: Meme coins are a zero-sum lottery, calls for purchasing long-term value assets
Former Coinbase CTO Balaji Srinivasan posted on the X platform that meme coins are a zero-sum lottery. They do not create wealth. Each buy order simply matches with a sell order. After an initial surge, prices will eventually plummet, leaving the last investors with nothing. If the platform also takes a cut, it effectively becomes a negative-sum game. If you want to gamble moderately for entertainment, that's fine. If you are a professional trader, that's also fine. But most people should buy long-term value assets. Sometimes, use cases can be added to meme coins, or their value can be indefinitely maintained by keeping them popular. But overall, do not invest money you cannot afford to lose. I agree that some meme coins have indeed stood the test of time and successfully built communities. I would further point out that many of the top 100 cryptocurrencies are actually "ghost chains" and de facto meme coins. However, in a highly politicized environment, rapid price surges are likely to bring trouble. Much depends on what happens after the first significant price drop.
Trump attributes the surge in the U.S. stock market and Bitcoin's recent all-time high to himself
According to The Block, U.S. President-elect Donald Trump, in his last speech before the inauguration, attributed the surge in the stock market and Bitcoin's recent all-time high to himself. Donald Trump stated at the rally: "You have seen results that no one expected. Since the election, the stock market has surged, and small business optimism has risen 41 points, reaching the highest level in 39 years. Bitcoin has repeatedly broken historical highs. This is the Trump effect." Over the past year, the U.S. stock market has continued to rise, peaking in early December shortly after the election. The S&P 500 index reached a peak valuation of 6,090 points on December 11, while the Nasdaq index hit a high of 20,204 points on December 16. As for Bitcoin, it also peaked in early December, reaching an all-time high of $107,000 on December 17. In the following weeks, it fell to $90,000, then rebounded to over $100,000. However, in the past few hours—following the launch of MELANIA—Bitcoin's price has dropped below $10,000. His speech came just hours after his wife Melania Trump launched her own meme coin MELANIA, which has a fully diluted valuation of $5 billion (with only 10% of the supply currently in circulation, the market cap is about $500 million). However, this also came at a cost, drawing attention and funds away from Donald Trump's own meme coin Official Trump, which saw its value nearly halve. Official Trump was launched on January 17, with a market cap that once reached $14.5 billion—a fully diluted valuation of $72 billion—before plummeting to its current market cap of $8.8 billion. Trump did not mention his meme coin or Melania's meme coin in his speech, nor did he address the resulting drop in Bitcoin's price.
Important Data
$BARRON market cap exceeds $300 million, smart money profits $1.78 million from $109,000 investment
According to @ai_9684xtpa monitoring, the market cap of $BARRON token has surpassed $300 million, surging 456% within an hour. Smart money HYWo7…Q1ENp liquidated nearly 17 million tokens 20 minutes ago, investing $109,000 over seven hours to profit $1.78 million, with a return rate of 1629.9%.
According to Yu Jin monitoring, one address made a profit of up to $59.57 million from trading $MELANIA, with a profit multiple of 87 times. This address purchased 5.203 million $MELANIA for 2,500 SOL (approximately $680,000) just two minutes after the launch, with an average purchase price of only $0.13. Subsequently, as the price of $MELANIA surged sharply, the address sold 2.703 million tokens, profiting $30.4 million, with an average selling price of $11.25. Currently, the address still holds 2.5 million $MELANIA, valued at approximately $29.85 million, bringing the total profit (realized and unrealized) to $59.57 million.
BTC breaks $109,000, daily increase of 3.95%
According to OKX market data, BTC has just broken $109,000, currently priced at $109,080.00 per coin, with a daily increase of 3.95%.
Smart money address spent $800,000 to buy 3.838 million MELANIA, profiting about $37.24 million
According to The Data Ner monitoring, a smart money address (insider) spent $800,000 to purchase 3.838 million MELANIA (average price $0.21). Subsequently, he sold 1.92 million tokens for $13.14 million. Currently, he still holds 1.92 million tokens (approximately $24.9 million), with an estimated total profit of about $37.24 million and a return on investment of 46.5 times.
Whale that previously purchased 5.2 million MELANIA now has an unrealized profit of over $66 million
According to Lookonchain monitoring, the whale that purchased 5.2 million MELANIA for $680,000 earlier today sold 203,000 MELANIA for 2.14 million USDC, leaving 5 million MELANIA, valued at $64.9 million.
According to SolanaFloor data, the DEX trading volume on Solana in January has surpassed $158 billion, breaking the previous record of $140 billion set by BNB Chain in May 2021—this is the highest record across all blockchains. Solana is also the first blockchain to exceed $150 billion, achieving this goal in just 20 days, with 11 days remaining.
According to Onchain Lens monitoring, two hours ago, a whale purchased 5.2 million MELANIA for $680,940, currently having an unrealized profit of about $39 million, and has not sold any tokens.
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