Today's News Highlights:
Bitwise CEO: Regulators may approve five types of digital asset spot ETFs this year.
Data: WLFI's cryptocurrency investment has now lost $51.7 million, with the largest loss in ETH.
Data: The total liquidation amount across the network has risen to over $2 billion in the past 24 hours.
A dormant Ethereum whale, inactive for six years, transferred $230 million worth of ETH to Bitfinex before the crash.
He Yi: Binance has conducted over 120 internal audits in the past two years, recovering $30 million in illegal gains.
THORChain plans to address a $200 million debt crisis by issuing equity tokens.
Coinbase Director: Trump has profited over $800 million from the TRUMP coin.
Regulation/Macro
Bitwise CEO: Regulators may approve five types of digital asset spot ETFs this year
Bitwise CEO Matt Hougan revealed that regulators may approve up to five different digital asset spot ETFs this year. However, to achieve this, the SEC needs to cross the "regulatory Rubicon."
EU responds that it will firmly retaliate if Trump imposes tariffs on EU goods
Trump stated last week that he would "absolutely" impose tariffs on the EU. The EU responded that it would "firmly respond" if the U.S. imposes tariffs, marking the latest expression of dissatisfaction with President Trump's trade policies, which are spreading globally.
Utah may become the first U.S. state to establish a Bitcoin reserve, decision to be made in 45 days
Due to a short legislative window and "political momentum," Utah may become the first U.S. state to establish a Bitcoin reserve. Satoshi Action Fund CEO Dennis Porter stated in a recent interview that Utah has a "great opportunity" to become the first state to establish a Bitcoin reserve, as they have only 45 days to make a decision.
The first round of trade policies from the Trump administration has triggered severe volatility in global markets. The yield curve for government bonds has flattened, indicating market concerns about short-term inflation and the long-term risks of the trade war on global economic growth. The spread between gold prices in New York and London has widened, reflecting not only the unwinding of popular EFP arbitrage trades but also suggesting potential logistical challenges in transferring gold between different vaults, highlighting the uncertainty that tariffs may further expand.
Project Updates
Data: WLFI's cryptocurrency investment has now lost $51.7 million, with the largest loss in ETH
According to Spot On Chain data monitoring, due to the impact of Trump's new tariff policy, World Liberty Financial invested $243 million in cryptocurrency assets between January 19 and 31, and has now lost $51.7 million, a decline of 21%. Among these, ETH lost $36.7 million (-24.4%), WBTC lost $8 million (-12.1%), and ENA lost $2.05 million (-43.7%).
Berachain Foundation: Boyco deposits have been closed
The Berachain Foundation announced on social media that Boyco deposits have been closed.
Data: Raydium surpasses Uniswap to become the largest DEX trading platform last month
According to The Block data, Raydium processed 27% of DEX trading volume in January, surpassing Uniswap to become the largest DEX trading platform. Meanwhile, Raydium's market share grew from 18.8% in December to 27.1% in January, while Uniswap's share fell from 34.5% in December to 22% in January.
THORChain plans to address a $200 million debt crisis by issuing equity tokens
THORChain governance has passed a restructuring proposal to issue a new token called TCY (Thorchain Yield) to convert nearly $200 million in defaulted debt into equity. The proposal includes minting 200 million TCY tokens, distributing one TCY token for every dollar of defaulted debt.
Binance co-founder He Yi stated in a Space that there are currently two coordinators from U.S. law enforcement within Binance, and over the past two years, more than 120 internal investigations have been conducted, resulting in over 60 people being dismissed for violations, recovering a total of $30 million in illegal gains, with two cases still ongoing in litigation and prosecution.
Coinbase Director: Trump has profited over $800 million from the TRUMP coin
Coinbase Director Conor Grogan stated that U.S. President Trump and his team may have earned over $800 million since launching the TRUMP coin. According to a post on X today, Grogan mentioned that Trump and his team earned $802 million through transfers, liquidity events, and fees related to TRUMP.
According to Aastocks, Hong Kong Monetary Authority Chief Executive Yu Weiwen stated that investments from the foreign exchange fund must consider liquidity, stability, long-term returns, and diversification benefits. He revealed that there are currently allocations in metals and mainland assets, but there is no intention to allocate virtual assets.
Opinions
Matrixport Co-founder: The Asian market lacks independent thinking, and the market will recover soon
Matrixport co-founder Daniel Yan stated on social media that it was another typical weak Monday, with insufficient liquidity and commodity trading advisors (CTAs) following the trend, leading to a market decline. The recent Asian market has been unable to withstand any negative news and lacks independent thinking. However, tariffs will not significantly impact U.S. productivity and inflation, and the market will recover soon.
Bitwise predicts that U.S. Bitcoin spot ETF inflows will reach $59 billion by 2025
Bitwise investment director Matt Hougan stated that the U.S. spot Bitcoin ETF received nearly $5 billion in inflows in January, which could lead to inflows of $59 billion by the end of 2025. In comparison, the total inflows for U.S. spot Bitcoin ETFs in 2024 were $35.2 billion.
Binance co-founder He Yi stated in a Space that Binance's listing will consider multiple factors. Taking the previously popular AI16Z as an example, the coin had a large market capitalization when it was considered for listing, and there were concerns within Binance about whether it would "peak immediately after listing," leading to differing opinions internally.
Important Data
According to Coinglass data, the total liquidation amount across the network has risen to $2.053 billion in the past 24 hours, with long positions liquidated at $1.78 billion and short positions at $273 million.
A dormant Ethereum whale transferred $230 million worth of ETH to Bitfinex before the crash
According to Lookonchain data monitoring, before the market crash, a dormant Ethereum whale wallet transferred all 77,736 ETH (worth $228.6 million) to Bitfinex.
According to SoSoValue data, the Bitcoin spot ETF saw a net inflow of $560 million last week (from January 27 to January 31, Eastern Time). The Bitcoin spot ETF with the highest net inflow last week was Blackrock's Bitcoin ETF IBIT, with a weekly net inflow of $751 million, bringing its total historical net inflow to $40.48 billion.
A whale bought over $111 million worth of ETH after the market decline
According to Lookonchain monitoring, after the market decline, the whale "7 Siblings" bought $111.72 million worth of ETH at an average price of $2,480.
CryptoQuant CEO Ki Young Ju stated on social media that Bitcoin's "kimchi premium" has reached 12%, the highest in three years. The main reason for Bitcoin's decline seems to be the strengthening of the DXY (dollar index). The kimchi premium has surged at local bottoms, not because Koreans are buying the dip, but because Bitcoin is being converted into dollars. Other countries may also experience a similar trend.
A dormant Ethereum whale transferred $230 million worth of ETH to Bitfinex before the crash
According to Lookonchain data monitoring, before the market crash, a dormant Ethereum whale wallet transferred all 77,736 ETH (worth $228.6 million) to Bitfinex. This wallet had previously withdrawn 77,736 ETH from Bitfinex on January 5, 2019, when it was worth about $11.9 million.
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