Today's news tips:
MetaMask co-created Farcaster account was stolen and used to promote meme coins
Trump has taken over the @POTUS account and retweeted the White House's tweet "America is BACK"
Trump's speech ends without mentioning cryptocurrencies
Gnosis Co-founder: Ethereum should prioritize transaction capabilities and application needs
Regulatory/Macro
Well-known blockchain investigator ZachXBT revealed on social media that despite his many contributions in the crypto space, he has not received any financial rewards from it. He mentioned that earlier this year he led the recovery of $12 million in funds related to the Caesar ransomware incident in September 2023, and assisted the US government in recovering $20 million previously stolen by hackers, but did not receive any rewards. In response, community member Polycarpus.eth comforted that ZachXBT, as the industry's "moral compass", will surely reap irreplaceable rewards in the future. ZachXBT responded that he was "exhausted" and admitted that his lack of business acumen was a major regret.
“US President Trump announces the launch of meme coin POWER” is fake news
US President Trump announced on the X platform: "Introducing the new official meme coin POWER, a token for patriots who support my vision of a strong America. This is your chance to join the movement and defend the values that make America great." This message is fake news and is not Trump's official Twitter.
Trump orders attorney general not to take action against TikTok for 75 days
According to Jinshi, US President Trump ordered the Attorney General not to take action against TikTok within 75 days.
Mark Cuban considers creating meme coin, sales proceeds will go to the U.S. Treasury
Billionaire entrepreneur and cryptocurrency advocate Mark Cuban said on the X platform: "If meme coins are the trend of the future, maybe I will issue one. However, I will add something new. The terms of issuance are the same as TRUMP: 20% of the circulation, the same release plan. But there is one difference. All proceeds from token sales will go directly to the US Treasury. The wallet address will be public so that everyone can track the flow of funds. If you want to gamble, then gamble. But at least use this money to contribute to reducing the US debt."
Utah lawmaker proposes strategic Bitcoin reserve legislation
According to Bitcoin Magazine, Utah Congressman Jordan Teuscher proposed strategic Bitcoin reserve legislation.
MetaMask co-created Farcaster account was stolen and used to promote meme coins
MetaMask said on the X platform: "The Farcaster account of our co-founder Dan Finlay was stolen and used to promote meme coins. We have contacted the Farcaster team to help investigate this incident." In addition, SlowMist founder Yu Xian issued a reminder on X that the Farcaster account co-created by MetaMask was stolen and a meme was released; this meme has been rugged, and the initial funds of the creator's address should have come from a certain mixing platform, and the profit has exceeded 1,000 SOL.
Trump has taken over the @POTUS account and retweeted the White House's tweet "America is BACK"
After being sworn in as the 47th President of the United States, Trump has taken over the @POTUS account and retweeted a tweet from the White House announcing "Donald J. Trump Sworn In as the 47th President of the United States. America is BACK." It is reported that @POTUS is the official account of all successive US presidents, and the name and content will be updated after the new president takes office.
After Trump was sworn in, Musk's government efficiency department DOGE was accused of three lawsuits
According to Businessinsider, three lawsuits against the Department of Government Efficiency (DOGE) led by Elon Musk were filed in federal court just after US President Trump was sworn in. The lawsuit accuses DOGE of violating the Federal Advisory Committee Act (FACA) of 1972 and failing to meet transparency requirements such as public meetings, balanced perspectives and record keeping. The first lawsuit was initiated by the left-wing legal organization Democracy Forward, claiming that DOGE is a "shadow agency" dominated by "unelected billionaires" and may make decisions that affect millions of Americans in the absence of transparency and supervision. The second lawsuit was filed by the National Security Counselors, focusing on the establishment and operating procedures of DOGE, arguing that it did not comply with the legal provisions of the advisory committee. The lawsuit also accused DOGE's members of being mainly executives in the technology industry and lacking diversity and balance. The third lawsuit was jointly filed by Public Citizen, State Democracy Defenders Fund and the American Federation of Government Employees, claiming that DOGE members failed to represent the interests of ordinary Americans. The three parties had previously applied to the Trump transition team for a representative seat in DOGE, but received no response. Although Musk previously stated that all of DOGE's actions would be made public online to ensure transparency, the lawsuit claims that a large amount of its communications were conducted through the encrypted application Signal, which lacked openness. Litigation attorney McClanahan said that DOGE may make short-sighted decisions due to the lack of federal staff's perspective, emphasizing that "government work is different from business operations." At present, Musk, Trump and related representatives have not responded to this.
Trump's speech ends without mentioning cryptocurrencies
Trump ended his speech without mentioning cryptocurrencies.
US President-elect Trump said that tariffs and taxes will be imposed on foreign countries to benefit American citizens, rather than making other countries rich by taxing their own citizens. He plans to establish the External Revenue Service, which will be responsible for collecting all tariffs and taxes to attract foreign service funds into the US treasury. He stressed that this will promote a rapid recovery of the "American Dream" and achieve economic prosperity at an unprecedented rate. In addition, Trump said that the focus in the future is to defeat America's enemies while avoiding wars, and the United States does not want to be involved in wars. Trump also proposed a number of policies, including reversing measures taken because American ships were overcharged in the Panama Canal and announcing that the Gulf of Mexico would be renamed the American Gulf. In addition, he made it clear that from today, the official policy of the US government will recognize that there are only two genders: male and female.
Market News: Republican lawmakers’ document does not mention cryptocurrency as a priority
According to Punchbowl, a document released by Republican lawmakers to the outside world did not list cryptocurrency as a current priority.
Trump officially sworn in as the 47th President of the United States
U.S. President-elect Trump was sworn in and officially became the 47th President of the United States.
Financing/Acquisition
According to The Block, TON ecosystem DeFi lending platform EVAA Protocol has completed a $2.5 million private placement financing, with participation from Polymorphic, TON Ventures, Animoca Ventures, CMT Digital, Mythos Ventures, Wagmi Ventures and several angel investors. It is reported that EVAA Protocol provides lending, borrowing, short selling, leveraged staking and other DeFi services for the TON network. The platform aims to use the new financing to launch the native token EVAA, with the overall goal of expanding TON's DeFi landscape.
RWA tokenization protocol Hamilton completes $1.7 million Pre-Seed round of financing
Newsini reported that RWA tokenization protocol Hamilton completed a $1.7 million Pre-Seed round of financing, led by DisrupTech Ventures, with participants including CMS, DeSpread, Hyperithm, Core Ventures and other strategic investors. According to reports, Hamilton is a protocol that introduces tokenized assets to Bitcoin, dedicated to combining traditional financial instruments with the security and transparency of Bitcoin. Hamilton will launch three flagship products: HUSD, a Bitcoin native stablecoin backed by U.S. bonds; HUST, a tokenized U.S. Treasury bond; and Publius, a platform that authorizes financial institutions to tokenize any asset.
Project News
Bithumb will launch TRUMP Korean Won trading pair
South Korean exchange Bithumb announced that it will launch the TRUMP token at 19:00 local time on January 21 to support the Korean won trading market.
A fake Barron Trump token briefly reached a market value of $72.78 million, but then plummeted by more than 99% in 1 minute. The issuer of the token has been accused of being a scammer, and the related X (Twitter) account @TrumpwBarron has been frozen.
Linea: 476,000 Sybil attack addresses found, no airdrops will be provided
ConsenSys's Layer2 network Linea said on the X platform that Linea has worked with Nansen to conduct additional Sybil analysis on LXP holders. The latest review found 476,000 addresses showing strong Sybil activity signals. These addresses will be added to the existing Sybil block list and will not receive LXP airdrop allocations. If users find that they have been mislabeled, please submit a complaint through the feedback form within the next two weeks.
Coinbase International will launch Trump (TRUMP) perpetual contract
Coinbase International Station announced on the X platform that Coinbase International Station and Coinbase Advanced will add support for Official Trump (TRUMP) perpetual futures contracts. The TRUMP-PERP market is expected to open at or after 23:30 UTC on January 20, 2025 (6:30 Beijing time on January 21). Update: Coinbase International Station announced that the TRUMP-PERP market is now open.
Coinbase to List Official Trump (TRUMP) Token
Coinbase Assets announced on X Platform that Coinbase will add support for Official Trump (TRUMP) on the Solana network. Do not send this asset over other networks or your funds may be at risk of loss. Coinbase will add support for TRUMP using the "experimental" tag. Trading in the TRUMP-USD trading pair will be launched in phases once sufficient supply of this asset is available. Trading hours will be announced separately when liquidity conditions are met. It is recognized that some users may experience significant delays in sending and receiving on Coinbase's Solana network. Therefore, the sending, receiving, and withdrawal/deposit of TRUMP tokens on Coinbase may be affected.
Viewpoint
Gnosis Co-founder: Ethereum should prioritize transaction capabilities and application needs
Martin Köppelmann, co-founder and CEO of Gnosis, wrote that the core problem Ethereum has faced in recent years is the divergence in development direction: on the one hand, the idea of "ETH is currency", which believes that transaction capacity and fees are irrelevant, and the focus is on "currency premium"; on the other hand, Ethereum is positioned as the "world computer/settlement layer", focusing mainly on transaction capacity (including L1 expansion) and total fees as the measure of success. He believes that if Ethereum can take this opportunity to make transaction capacity and the needs of application developers a top priority, it will be an important victory.
Matrixport said that Bitcoin prices have been in a gradually narrowing wedge range since mid-November last year, affected by multiple factors, including higher-than-expected inflation data and the Fed's hawkish stance suppressing market sentiment, as well as the market's optimistic expectations that President Trump may establish a "strategic Bitcoin reserve" to support it. Trump's inauguration became a catalyst for Bitcoin's upward breakthrough, and Bitcoin prices are currently retesting the breakthrough level, which is consistent with the upper boundary of the wedge. If Bitcoin can hold this key support level, it still has significant upside potential in the short term, and the market's bullish expectations are further enhanced.
Guggenheim chief investment officer predicts: Fed may cut interest rates every quarter through 2025
According to Jinshi, Guggenheim's chief investment officer predicted on Monday that the Federal Reserve may cut interest rates every quarter through 2025, with cuts of about 75 basis points this year and possibly even up to one percentage point. Guggenheim Chief Investment Officer Anne Walsh said at the start of the World Economic Forum's annual meeting in Davos that the Federal Reserve will continue to cut interest rates, although the pace of reductions will be slower than expected. Walsh said that the tariffs Trump expects to implement may not be as severe as most people expect, as long as the dollar remains strong as a reserve currency and the United States continues to attract capital. Walsh expects the average increase in tariffs to be less than 10% and more targeted. Walsh said there is some uncertainty about Trump's policies and what his new administration actually implements, and there is also a risk that the U.S. economy will slow more than currently forecast. "It's like a ping-pong game...between politics and policy, this will bring a lot of volatility to our investment themes this year."
Bybit Lianchuang: Bitcoin price is expected to rise to $175,000 to $250,000 in 2025
Ben Zhou, Co-founder and CEO of Bybit, commented on "Trump was sworn in as the 47th President of the United States": We are pleased to see that the market is becoming more friendly to cryptocurrencies and the application scenarios are expanding; the meme coin recently launched by US President Trump and First Lady Melania has set a strong precedent for the future; as President Trump enters his second term, the market will be ready for accelerated growth in the fields of Web3, decentralized finance and blockchain. The craze for TRUMP coins has already reflected the market's growing demand for on-chain transactions, highlighting the general trend of the market entering the Web3 era. The cryptocurrency market is entering a more friendly regulatory environment. This shift has injected a shot in the arm to the market, making the market show greater confidence and greater recognition in digital assets, and we believe that institutional investment will continue to grow rapidly. In the coming months, clearer regulatory guidelines and the upcoming Cryptocurrency Advisory Committee will provide more support to the industry and accelerate the development of cryptocurrencies into real assets used in daily life. The world is gradually adapting to market changes, and we expect Europe, the UAE, Asia Pacific, Singapore and Hong Kong to accelerate the development of their cryptocurrencies. As policies become clearer and investor confidence significantly increases, Bybit expects the price of Bitcoin to rise to US$175,000 to US$250,000 by 2025.
Bitcoin Magazine CEO: Trump’s First 200 Executive Orders Will Include Cryptocurrency
David Bailey, CEO of Bitcoin Magazine, said on the X platform: "It is confirmed that the executive orders related to Bitcoin or cryptocurrencies are included in the first 200 executive orders issued by Trump since he took office. I don’t know what specifically made them selected, but it’s good news."
Arthur Hayes says he doesn’t think Trump will start building a Bitcoin reserve
According to CoinDesk, Arthur Hayes, co-founder and former CEO of BitMex, said: "I don't think Trump will set out to build a Bitcoin reserve. At the end of the day, I don't know what the use of borrowing money to buy Bitcoin is on any of Trump's platforms." He said: "Before you destroy the bond market, you have so much borrowing power. Will you borrow money to buy Bitcoin? Will you borrow money to provide health care for the elderly who voted for you, or to build more bombs so that the defense lobby likes you? You can borrow money to buy a lot of different things. I just don't think he will spend money on Bitcoin. Although Bitcoin supporters think Bitcoin is important, there are many other stakeholders who want the borrowed money to go into their pockets." Regarding the implementation of Bitcoin reserves, Hayes said "I hope I'm wrong." But he pointed out that the time before the midterm elections is limited, which may limit the ability to implement major policy changes, and there are many other things that require time and budget allocation.
Musk: Silk Road founder Ross Ulbricht will be released
Musk said on the X platform that Silk Road founder Ross Ulbricht will be released due to a pardon from the US President.
Important data
According to @ai_9684xtpa, a whale bought 7,000 SOL ZACHXBT, worth about $1.65 million, accounting for 4.1% of the circulating chips. The whale's cost price was $0.04043, and its single large purchase directly pushed the coin price up 35% in a short period of time. At present, this transaction has brought it about $620,000 in floating income. According to previous news, the price of ZACHXBT exceeded $0.06, and the market value has exceeded $60 million.
TRUMP fell more than 40% in 24 hours, and MELANIA fell more than 63% in 24 hours
According to gmgn data, the price of Trump's personal meme coin TRUMP is now $35.5, down 40.1% in 24 hours. Melania Trump's personal meme coin MELANIA is now $4.21, down 63.1% in 24 hours. In addition, Coinglass data shows that the total amount of TRUMP liquidation in the past 24 hours reached $51.3048 million, and the total amount of MELANIA liquidation reached $18.4548 million.
According to Lookonchain monitoring, in the past 7 days, the stablecoins (USDT & USDC) on the Solana chain increased by 3.13 billion US dollars, and the stablecoins (USDT & USDC) on the Ethereum chain increased by 652 million US dollars.
According to the monitoring of the on-chain analyst Ember, the DeFi project World Liberty Financial (WLFI) supported by the Trump family has spent a total of $112.8 million in the past 11 hours to purchase 6 tokens including ETH, WBTC, AAVE, LINK, TRX, and ENA. Among them, ETH and WBTC purchased $47 million each; AAVE, LINK, TRX, and ENA purchased $4.7 million each (the value is 47 to celebrate Trump's inauguration as the 47th president). The difference in this purchase is that WLFI did not continue to purchase ONDO, but added the purchase of TRX. Now, WLFI has spent a total of $220 million to purchase 7 tokens, with a total floating loss of $9.4 million. In addition, Arkham data shows that ETH is the largest token held by the Trump family's crypto project WLFI, with a current holding of 56,774, worth $185.63 million, accounting for nearly 57% of WLFI's total on-chain holding value of $326,150,368.04.
Ethereum Foundation transfers 50,000 ETH to a new wallet address dedicated to supporting DeFi
According to The Block, the Ethereum Foundation announced the establishment of a wallet address to start participating in decentralized finance (DeFi), confirming Vitalik Buterin's recent statement that the non-profit organization will continue to make organizational changes. The organization plans to inject about $150 million worth of ETH into the wallet, but noted that it may take a few days to complete the setup. Hsiao-Wei Wang, who was recently appointed to the leadership position of the foundation, posted on X on Monday: "The Ethereum Foundation has established a new 5-signature 3 multi-signature wallet... The operation has been initiated to send 50,000 ETH to the wallet, but please be patient; due to signature delays, this will take a few days to process, and the Ethereum Foundation will use this new wallet to participate in the DeFi ecosystem."
