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Regulatory/Macro

Hong Kong Securities and Futures Commission's Ye Zhiheng: New licenses for virtual asset platforms will be issued soon

According to Zhitong Finance, the Executive Director of the Intermediary Department of the Hong Kong Securities and Futures Commission (Chairman of the Fintech Advisory Group) Ye Zhiheng revealed that new licenses for virtual asset platforms will be issued soon, and he believes that there will be good news in the first quarter. He continued that almost all applicants had been inspected on site last year, and regulators had the opportunity to express their requirements and the platforms had time to respond. The industry believes that direct communication can speed up the approval process. Ye Zhiheng said that it is not guaranteed that all 11 applications will be approved because they have to stick to the regulatory red lines, including investor protection and network security requirements of operators, but he hopes that there will be good news if given one or two months. Previously, the Hong Kong Securities and Futures Commission had announced that it would set up an advisory group for all licensed platforms in early 2025 to ensure that the Hong Kong Securities and Futures Commission considers the industry's views in the process of formulating policies. Ye Zhiheng said that the executives of the licensed platforms have been invited to participate, and it is hoped that each licensed platform will send representatives to participate. The first meeting is expected to be held after the Chinese New Year and in the first quarter.

Warning: US Treasury XRP wallet scams spread on social media

According to Beincrypto, Chainlink Community Liaison Officer Zach Rynes issued a reminder on the X platform: "This is the latest example of the proliferation of false information in the XRP community. This time, we found fake KYC accounts from the Philippines impersonating the US Treasury and issuing fake tokens on XRPL." The scam post related to the US Treasury Department's XRP wallet spread rapidly after it was released, and multiple popular X accounts forwarded it. This fake wallet allegedly interacted with major institutions such as Bank of America and JPMorgan Chase, but on-chain analysis showed that it was located in the Philippines, that is, a non-US account apparently activated this fake Treasury wallet. Rynes said that well-trained people can immediately see the danger signs in this incident, but "it is difficult to know how to solve social media scams like this."

Market News: Silk Road founder Ross Ulbricht leaves prison after receiving pardon from Trump

According to Cointelegraph, Silk Road founder Ross Ulbricht left prison after receiving a pardon from US President Trump.

US mining giant Critical Metals plans to adopt Bitcoin financial strategy, with available capital pool reaching $500 million

According to Globenewswire, US mining giant Critical Metal Corps (Nasdaq: CRML) said it plans to start allocating its excess reserves to BTC, a decision that has been approved by its board of directors. According to the company's announcement, it may be able to use a $500 million pool of funds, which will be part of the convertible note financing led by JBA Asset Management, subject to the conditions contained in the transaction documents. The company said that of the $500 million pool, it will first allocate $100 million to purchase Bitcoin. The warrant coverage of the first batch of funds is 100%. It also said that the remaining $400 million can be used according to the buyer's wishes, with a warrant coverage of 50%. According to the financing conditions, the convertible notes are secured by the cash raised and the underlying BTC acquired. Although the company has not yet announced a strategic Bitcoin purchase plan, it said that the move will depend on its cash flow needs and may eventually modify some of the conditions of the strategy as it deems appropriate.

MARA Holdings CEO: Working to bring the strategic Bitcoin reserve program to all 50 states and the federal government

Fred Thiel, CEO of bitcoin mining company MARA Holdings, said on the X platform that they are working to bring the strategic bitcoin reserve program to all 50 states and the federal government in the United States.

The Hong Kong Legislative Council has reviewed the Stablecoin Bill for the first time, and a licensed stored value payment tool company has participated in the sandbox

According to Hong Kong media Ta Kung Pao, the relevant bill committee of the Hong Kong Legislative Council reviewed the "Stablecoin Bill" for the first time yesterday. The bill is expected to be passed and become law within a few months. Ho Siu-hong, Deputy Secretary-General of the Hong Kong Financial Services and the Treasury Bureau, said that stablecoin products issued in Hong Kong or overseas that refer to the Hong Kong dollar must obtain a license. License holders must maintain a sound reserve stabilization mechanism to ensure that the reserve assets of stablecoins are composed of high-quality and highly liquid assets, with a total value at all times at least equal to the face value of the circulating fiat stablecoins, and must be properly separated and kept. According to the Assistant Director of the Hong Kong Monetary Authority

Cryptocurrency-related apps occupy the top four free financial apps in the US Apple App Store

AppFigures data shows that cryptocurrency-related apps currently occupy the top four of the free financial apps rankings in the U.S. region of Apple’s App Store. Among them, Crypto.com ranks first, followed by Moonshot, Coinbase and Coinbase Wallet.

US SEC launches cryptocurrency task force to develop regulatory framework

According to Jinshi, Mark Uyeda, acting chairman of the U.S. Securities and Exchange Commission (SEC), has established a cryptocurrency task force "committed to developing a comprehensive and clear regulatory framework for cryptocurrency assets." Commissioner Hester Peirce will lead the task force. The focus of the task force will be to help the commission draw clear regulatory boundaries, provide a practical registration path, develop a reasonable disclosure framework, and wisely deploy law enforcement resources. Senior advisors Richard Gabbert and Taylor Asher serve as chief of staff and chief policy advisor to the task force, respectively.

Kenya proposes law requiring digital asset businesses to have local offices

PANews reported on January 21 that according to Bloomberg, the Kenyan government is drafting a law requiring virtual asset service providers to set up offices locally to strengthen supervision of the fast-growing digital asset industry. The proposed policy does not apply to assets that cannot be transferred, traded or used for payment and investment outside a closed ecosystem. It aims to address gaps in the legal and regulatory framework in the field of virtual assets and address issues such as consumer protection, governance, data privacy and cybersecurity. Kenya introduced a 3% digital asset transaction income tax in 2023, but has not yet established a comprehensive industry regulatory framework. The government hopes to fill the regulatory gap through this move while addressing industry risks such as money laundering, terrorist financing, tax evasion, fraud and cybercrime.

AI

Trump: OpenAI, SoftBank and Oracle will invest $500 billion in artificial intelligence

According to Reuters, U.S. President Donald Trump announced on Tuesday that three leading companies will make huge investments in artificial intelligence infrastructure. Trump said at the White House that OpenAI, SoftBank (9984.T) and Oracle (ORCL.N) will form a joint venture called "Stargate" with a planned investment of $500 billion. Trump said he would use an emergency executive order to help advance the project.

Project News

Binance launches VTHO/USDT perpetual contract with maximum leverage of 75x

Binance announced that it will launch the USDⓈ-M-margin VTHO/USDT perpetual contract at 17:30 Beijing time on January 22, supporting up to 75x leverage.

Uniswap: v4 deployment will be gradually rolled out this week, and all contracts are expected to be fully deployed and launched next week

Uniswap Labs announced on the X platform that v4 deployment will begin to be gradually rolled out this week for developers to test hooks and integrations on the chain, and all contracts are expected to be fully deployed and launched next week. The contract address will be announced soon.

Ethereum core developer Eric Conner announces his withdrawal from the Ethereum community

Eric Conner, a core developer of Ethereum and co-author of EIP-1559, posted on the X platform early yesterday morning: "I am no longer a member of .eth (Ethereum domain name)... Maybe one day those leaders will re-align with the community, but for now, I have left. Deep down, I really hope that Ethereum can succeed. Good luck." In addition, Eric Conner posted today: "My passion is entirely about the potential of cryptocurrency and artificial intelligence. Cryptocurrency is essential to building an open, trusted and fair AI future in which humans do not lose autonomy. We need to build tools and infrastructure that can ensure this future. I will focus my time on this for the time being. For me, this started with Freysa (AI token), but I am very willing to talk to anyone who is building tools and infrastructure to ensure that cryptocurrency can bring a positive future to AI. The importance of getting this right exceeds any particular blockchain or individual."

Viewpoint

Trump's second son: Now is the best time to invest in the United States, betting on cryptocurrencies and other fields

Eric Trump, the second son of Trump, posted on X: “I think now is the best time to invest in the United States. Bet on our markets, energy, technology and cryptocurrencies, bet on a country that has broken free from restrictions and shackles and now has unlimited potential. There is no doubt that Biden has left a mess, but this mess will be fixed, and the next four years will be brilliant. Transformative wealth will be created, and I hope everyone enjoys the process.”

Andrew Kang: Plume and RWAfi are promising, and the Trump administration will help achieve “tokenization of everything”

Andrew Kang, partner of Mechanism Capital, said on social media that the RWA field has long been subject to strict securities law restrictions. However, he is hopeful about the policies of the Trump administration, believing that this will help achieve "tokenization of everything" and make securities trading on the chain as simple as native crypto assets. He also expressed optimism about Plume and RWAfi.

10x Research: Bitcoin may rise to $122,000 in February and then enter another consolidation phase

According to Cointelegraph, Markus Thielen, head of research at 10x Research, said that Bitcoin could rise 15% from its current price in a few days, but then it could enter a consolidation phase. Thielen said in a market report on January 21 that Bitcoin "successfully retested its wedge breakout" after rebounding from $98,937 to over $107,000. Thielen said that Bitcoin's price chart breakout signal indicates a potential "low-risk, high-reward entry opportunity." Thielen said that since the United States approved the Bitcoin spot ETF a year ago, Bitcoin has shown a pattern of "rising in increments of $16,000 to $18,000," which suggests that Bitcoin may reach $122,000 in February before "entering another consolidation phase." Thielen added that the potential gains may not stop there, and "if this pattern continues, Bitcoin may not only reach $122,000, but may even trade above this level before retesting it as support."

Consensys CEO: It is reported that the Trump family will establish one or more large enterprises on Ethereum

Joseph Lubin, co-founder of Ethereum and founder of Consensys, wrote on the X platform: "As far as I know, the Trump family will build one or more large enterprises on Ethereum. They will also conduct business on other chains such as Bitcoin and Solana. The Trump administration will do things that are good for the United States, which will involve ETH. The government will consider how the United States can support Ethereum for the benefit of the United States and may eventually use Ethereum technology in government activities, just as they currently use the Internet and network protocols."

Consensys CEO: Ethereum will release multiple high-value projects that will reshape the way Ethereum "enters the market"

Joseph Lubin, co-founder of Ethereum and founder of Consensys, responded to recent Ethereum-related controversies: "One of Vitalik Buterin's greatest qualities is his way of making decisions. When a problem arises, he listens and gathers information, weighs all factors, and makes a decision when he thinks he has weighed most of the necessary data. The best way forward is to realize that he has heard all of us and things are moving forward. Threats to harm or attempts to coerce are deeply disturbing and counterproductive. The Ethereum Foundation (EF), Enterprise Ethereum Alliance (EEA), and ConsenSys have multiple ongoing projects that will reshape the way Ethereum "enters the market" in the near future. From what I've seen, there will be so many high-value plans made public soon that you will be dazzled. It's best to stay calm and not lose your mind before the wave starts."

Ethereum Founding Member Anthony D'Onofrio Calls for Leadership Changes at the Ethereum Foundation

Anthony DOnofrio, a founding member of Ethereum, published a commentary article on CoinDesk titled "The Ethereum Foundation has lost its way". The article calls for leadership changes at the Ethereum Foundation. He said: "To ensure its future, the Ethereum Foundation must transform from a passive institution to a proactive vision promoter." DOnofrio pointed out that the Ethereum Foundation is a contradiction; although it is committed to decentralization, its operation is centralized, with directors, financial departments, paid developers, and core circles; these structures, while necessary for coordination, conflict with Ethereum's decentralized philosophy. He pointed out that the Ethereum Foundation, in its current form, aims to minimize internal and external threats, but has lost its original vision. The next stage of Ethereum requires more than just technical research and coordination meetings. It requires visionary leadership - someone who understands not only technology, but also its broader social, philosophical, and political impact. This leader must inspire a new generation of builders, connect technology with human needs, and navigate a complex political environment without compromising the idea of Ethereum. In addition, DOnofrio called on the Ethereum Foundation to provide more transparency and strengthen ties with the community, and to seize opportunities to engage with legislators under favorable conditions in the current U.S. political climate, and while maintaining political neutrality, the Foundation can create or promote frameworks that encourage compliance and innovation. In addition, the Ethereum Foundation should consider using its own technology to coordinate its operations and demonstrate the transformative potential of decentralized systems; by adopting Ethereum-based tools and protocols, the Foundation can manage governance, funding allocation, decision-making processes, and community participation. DOnofrio also called on the Ethereum Foundation to make financial accountability a priority.

Trump's second son: Now is the best time to invest in the United States, betting on cryptocurrencies and other fields

Trump responds to coin issuance: I don’t know much about TRUMP coin, I just know that I launched it

According to Jinshi, Trump responded to the coin: I don't know if it (TRUMP coin) is profitable, I don't know much about it, I just know that I launched it. I heard it was very successful.

Important data

Possibly influenced by the launch of Binance Alpha, MAX and TRISIG both rose by more than 40%

Possibly affected by the launch of Binance Alpha, MAX broke through $0.09, up 40.1% in 24 hours; TRISIG broke through $0.03, up 40.4% in 24 hours. Earlier news, Binance Alpha added MAXONSOL and $TRISIG.

The U.S. Bitcoin spot ETF had a total net inflow of $802 million yesterday, continuing its net inflow for 4 consecutive days

According to SoSoValue data, yesterday (January 21, Eastern Time), the total net inflow of Bitcoin spot ETFs was $802 million. Yesterday, Grayscale ETF GBTC had a net outflow of $0.00 per day, and the current historical net outflow of GBTC is $21.654 billion. Grayscale Bitcoin Mini Trust ETF BTC had a net inflow of $136 million per day, and the current historical total net inflow of Grayscale Bitcoin Mini Trust BTC is $1.096 billion. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was BlackRock ETF IBIT, with a net inflow of $662 million per day, and the current historical total net inflow of IBIT is $39.074 billion. As of press time, the total net asset value of Bitcoin spot ETFs is $123.59 billion, and the ETF net asset ratio (market value to the total market value of Bitcoin) is 5.88%, and the historical cumulative net inflow has reached $38.982 billion.

Circle has minted 2.5 billion USDC on Solana in the past 4 days

According to Lookonchain monitoring, Circle has minted 2.5 billion USDC on Solana in just 4 days since the launch of TRUMP.

Trump family crypto project WLFI exchanged 5252 ETH into stETH and pledged it to Lido

According to Onchain Lens monitoring, early this morning, the Trump family's crypto project World Liberty Financial (WLFI) exchanged 5,252 ETH (worth US$17.43 million) into stETH and pledged it to Lido.

Aave: Consensys provides up to 30,000 ETH to support rsETH bailout.

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