Bitfinex

Tether-Focused Blockchain Project Secures Funding
A Tether-focused Layer 1 #blockchain project, Stable, has successfully raised $28 million in a seed funding round to enhance the adoption and utility of the $USDT stablecoin. The project aims to address the inefficiencies associated with using stablecoins on general-purpose blockchains by offering optimized solutions for stablecoin transactions.
Key Players in the Funding Round
The funding round was co-led by #Bitfinex and Hack VC, with participation from Franklin Templeton, eGirl Capital, Mirana, Castle Island Ventures, Susquehanna International Group, Nascent, and Blue Pool Capital. Notable angel investors and advisors include Bryan Johnson of Braintree and Divesh Makan of Iconiq Capital. Bitfinex, an early supporter of the project, played a significant role in incubating Stable since its inception.
US Regulatory Clarity and Stablecoin Development
The fundraising efforts come on the heels of the recent GENIUS Act in the U.S., which aims to provide regulatory clarity for stablecoins and foster the development of digital payments infrastructure. Paolo Ardoino, CEO of #theter and CTO of Bitfinex, highlighted ...

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🔔 MARKET MOVING NEWS! (16/01/25)

1️⃣ XRP Re-Enters Top 3 Cryptocurrencies, Overtakes Blackrock In Market Cap 🔼

Ripple-linked XRP’s recent price surge has helped it reclaim its position as the third-largest cryptocurrency by market cap. Notably, the price surge has pushed its market capitalisation past that of the asset manager BlackRock. At its current market cap of almost $160 million, it is now valued more than Tether’s USDT which slipped to fourth place with a market value of $137 billion.
#xpr #pumpiscoming
#BullRunAhead $XRP
2️⃣ DOJ Says $9 Billion in Bitcoin Stolen in 2016 Hack Should Be Returned to Bitfinex 'In-Kind' 🤔

In court documents filed Tuesday, the U.S. Department of Justice stated the $9 billion worth of BTC recovered from the 2016 hack of Bitfinex exchange by Ilya Lichtenstein and Heather Morgan should be returned to the platform as there are no "victims" in the case.

For context, Bitfinex had "generalised" the losses from the hack across all its customers and launched a repayment program that included reimbursing users with tokens that could be redeemed for U.S. dollars or for shares in the company. The platform states that it believes customers have been made whole in the process. The court filing states that this is the reason there is “no 'victim' for the specific offences of conviction in this proceeding."

#Bitfinex

3️⃣ Judge Orders BitMEX To Pay $100M Fine Over US Banking Law Violations 💰

Manhattan federal judge Judge John G. Koeltl has reportedly sentenced the parent company of crypto exchange BitMEX - HDR Global Trading Limited, to two years of unsupervised probation and a $100 million fine. Notably, the sentencing comes roughly six months after the crypto exchange pleaded guilty to violating the US Bank Secrecy Act (BSA) by operating without “any meaningful” Anti-Money Laundering (AML) program.

In a statement to its users after the judgment, BitMEX reiterated its claim that the BSA charge was “old news,” adding:

Whilst we are disappointed to learn of the imposition of an additional financial penalty, the amount is substantially less than what the Department of Justice have been pursuing us for over 3 years.

4️⃣ VanEck Files Prospectus For 'Onchain Economy' ETF ⚡️

Asset manager VanEck has reportedly submitted an application to the US Securities and Exchange Commission for a new exchange-traded fund called the Onchain Economy ETF. According to the prospectus filing with the U.S. Securities and Exchange Commission, the fund will prioritise investments in digital asset-focused companies such as exchanges, crypto payment platforms and mining firms, in addition to virtual asset-focused investment vehicles like commodity futures contracts. Notably, it does not itself invest in digital assets or commodities.

5️⃣ Oklahoma Becomes Latest State to Consider Bitcoin Reserve Bill 💸

Oklahoma has reportedly become the latest state to formally consider establishing a strategic Bitcoin reserve. A new bill to establish the same was introduced to the Oklahoma House of Representatives on Jan. 15 by state Representative Cody Maynard. If approved in this upcoming session, the bill would allow state savings accounts and pension funds to invest in digital assets like BTC beginning in November. Specifically, the bill allows Oklahoma’s state treasurer to invest public funds in any digital asset that has averaged greater than a $500 billion market capitalization over the previous calendar year. Currently, only Bitcoin meets that requirement.

6️⃣ US Law Firm Seeks Legal Action Against Pump.Fun For Investors With Losses ‼️
#USGovernment
New York-based law firm Burwick has revealed plans to take legal action against Solana-based meme coin launchpad Pump.fun on behalf of investors that experienced losses on the platform. The law firm claimed that Pump.fun pocketed “hundreds of millions” in fees while illegal drug use, acts of self-harm, racism, antisemitism and other antisocial acts appeared on the platform.

Burwick wrote in its Wednesday X post,

🔥 Massive $USDC T Inflow – Is a Market Pump Coming? 🔥
A whopping $200 million USDT just landed on Bitfinex, and this could be the spark for a major crypto rally! Such large stablecoin transfers often mean whales are getting ready to buy, potentially pushing Bitcoin and altcoins sky-high. If Bitcoin breaks key resistance levels, expect a wave of FOMO buying, driving prices up fast. Traders, this is your moment!
What Should You Do?
✅ Watch BTC closely – If it starts surging, altcoins will follow.
✅ Look for breakout levels – BTC above $45K-$47K could trigger a strong uptrend.
✅ Altcoins like $PEPE , $SOL , and ETH could skyrocket as liquidity flows in.
✅ Be cautious – Fake pumps happen. Confirm momentum before diving in.
💯 Prediction: If this USDT inflow translates into aggressive buying, we could see Bitcoin testing $50K+ soon and altcoins exploding 🚀. However, if the market fails to react, this might be a liquidity trap. Stay alert and trade smart! 📈🔥

#CryptoPump 🚀 #BitcoinRally 🔥 #USDTFlow 💰 #AltcoinSeason 📈 #Bitfinex #BTC #CryptoMarket