Recently, Old Ma must be exhausted, not only having to take care of the Department of Government Efficiency, but also managing his own business empire, while facing criticism. Being a good person is truly not easy. Despite Musk's significant progress in the technology sector, Tesla is facing some challenges. At the beginning of the year, Tesla's stock price plummeted, dragging down Musk's net worth, which fell below $400 billion for the first time in two months. Tesla's sales in China and Germany also saw declines, dropping by 11.5% and 59% year-on-year, respectively.
In order to make your country great, you are vigorously promoting reforms in the Department of Government Efficiency, committed to reducing the size of the government, increasing transparency, and minimizing waste. However, this process will undoubtedly upset certain people's interests, and making your country great will still require some time.
Just half an hour ago, BlackRock deposited 5,100 BTC and 30,280 ETH into Coinbase Prime;
And across all 50 states in the U.S., more than 20 states have proposed or are considering legislation related to Bitcoin reserves or investments in digital assets. Currently, proposals from five states—Montana, South Dakota, North Dakota, Pennsylvania, and Wyoming—have been rejected or blocked. Another two pieces of bad news, this is a sign that there will be further declines.
According to Jinse Finance, Oklahoma's (Strategic Bitcoin Reserve Bill) (HB 1203) has been approved by the House committee and has entered the full voting stage. The bill allows up to 10% of public funds to be invested in BTC or digital assets with a market capitalization exceeding $500 billion.
The bill allows up to 10% of public funds to be invested in BTC or digital assets with a market capitalization exceeding $500 billion. This means that state governments may become long-term holders of Bitcoin. The entry of such institutional-level funds would directly increase the market demand for Bitcoin while sending a long-term bullish signal to the market, especially for eligible large-cap cryptocurrencies.
First, the Bybit exchange was hacked, then the Infini bank was robbed. The market hadn't even stabilized yet, and now... our dear Trump is also stepping in, claiming to impose tariffs as scheduled. The market is down, down, and down again... Then a certain exchange pleaded guilty in the U.S. for unlicensed remittance operations and was fined $84 million by the U.S. Department of Justice. Great, another drop... Then the Japanese yen is gradually strengthening against the dollar, currently at 0.067, and everyone is predicting that Japan will raise interest rates again... This just gets better and better...
According to reports, 11.2 million SOL from the FTX bankruptcy auction will unlock on March 1, valued at approximately $2.06 billion. If the SOL sold after the auction is quickly offloaded by buyers (such as hedge funds or institutions), the sudden increase in market supply may put short-term pressure on SOL prices, even dragging down the overall sentiment in the cryptocurrency market. Furthermore, $2.06 billion is approximately 5% of the current market value of SOL (based on a total circulation of about 440 million tokens). If released in a concentrated manner, it may exceed the market's short-term absorption capacity, leading to a price drop. At the same time, investors may worry that large-scale unlocking could lead to sell-offs, triggering follow-on selling pressure, especially as the current market is in a fragile state.
Since last night, the market has been full of news about the specific cold wallet ETH theft on Bybit. So why are hackers only targeting ETH? 1. High liquidity: ETH is the second-largest cryptocurrency by market capitalization, with strong liquidity, making it easy to transfer and cash out quickly.
2. Smart contract vulnerabilities: Smart contracts on the ETH platform may have vulnerabilities, which attackers could exploit for theft.
3. High market attention: As a mainstream cryptocurrency, ETH attracts a lot of market attention, and attacking ETH may have a greater impact and yield.
4. Technical characteristics: The technical characteristics of ETH may make it easier to become a target for attacks, such as fast transaction speeds and higher fees during network congestion.
There are strategies above and countermeasures below
Due to new European regulations, cryptocurrency service providers must delist unlicensed stablecoins. Although the new rules bring some growing pains, we young people today will not retreat due to these difficulties. At this time, Kraken, as a major trading platform, is also taking the lead by developing a USD-pegged stablecoin, which is planned to be issued by its Irish subsidiary. Meanwhile, Crypto.com also plans to launch its own stablecoin in the third quarter of 2025 and expand into the European market. It can be said that there are strategies above and countermeasures below!!!
At the same time, the actions of Kraken and Crypto.com also indicate that the cryptocurrency industry is actively adapting to regulatory changes and pushing the market toward maturity.
Market news: Old Ma is planning to discuss with Old Te about distributing a $5000 DOGE bonus to American citizens using government reserve funds. Will this wave of bonuses drive up DOGE?!
The current state of the cryptocurrency market can be summarized as follows: 1. Market Performance of Bitcoin (BTC) and Ethereum (ETH) - Bitcoin: Despite significant price fluctuations, Bitcoin remains at high levels, with recent prices around $97,924, showing a year-to-date increase of 4.62%. Institutional interest in Bitcoin continues to grow, with 27 U.S. states proposing or advancing legislation related to Bitcoin, such as the 'Bitcoin Reserve' bill and investment legislation. - Ethereum: Ethereum faces short-term pressure, with prices around $2,647, down 20.45% year-to-date. Despite $420 million in net inflows for spot ETFs, market share has decreased to 10%, and CME short positions have reached new highs, which may continue to exert pressure in the short term.
Federal Reserve Mouthpiece: Tonight's CPI is crucial and has significant implications for the Federal Reserve.
Every time it is said that CPI is very important, so what exactly is important about it this time?
Nick Timiraos, a Wall Street Journal reporter known as the 'mouthpiece of the Federal Reserve,' pointed out that not all monthly CPI inflation reports are equally important. In an economy facing price pressures, the January CPI data has a greater impact. In recent years, the price increases in the U.S. in January have been exceptionally strong, reflecting a significant adjustment in prices at the beginning of the year.
Despite the recent escalation of tensions in international trade, traditional financial markets remain stable and show no signs of panic. Credit yields are at cycle lows, and the VIX index is stable around 16, indicating that the market is prepared for negative news.
Old Trump: Will announce a 25% tariff on all imported steel and aluminum on Monday
Old Trump stated that he will announce a 25% tariff on all imported steel and aluminum on Monday. The tariffs will apply to metals imported from all countries. However, it did not specify when the tariffs will take effect.
In addition, he also stated that he will announce tariffs on imported goods from certain countries later this week. He mentioned that these tariffs will not take effect on the same day they are announced, possibly on Tuesday or Wednesday, but they will take effect soon. The crypto market is probably going to suffer again tonight, when will it end!!!
With the onset of the tariff trade war, safe-haven demand has pushed gold futures and spot prices to new highs, with gold likely reaching 3000, which will certainly make the crypto market very bleak.
Today, Golden Finance reported that the U.S. Securities and Exchange Commission (SEC) postponed the decision on BlackRock's Ethereum ETF options trading on Friday.
The U.S. Securities and Exchange Commission stated in a document that it has postponed its decision on whether to approve or disapprove until April 9, 2025. The agency stated, "The Commission believes it is necessary to designate a longer time to issue an order approving or disapproving the proposed rule change in order to allow sufficient time to consider the proposed rule change and the issues raised." Approval or disapproval, it should be approved immediately!!!
PoliFi (politician-related meme coin) may become a killer application in the crypto industry
Golden Finance reported that CryptoQuant CEO Ki Young Ju stated on platform X, 'PoliFi may become a killer application in the crypto industry. A strong crypto asset can attract capital and talent through an engaging narrative, forming a self-constructing internet organization. The impact of a narrative depends on three points: it must resonate with the majority; it should have extreme, provocative themes; and it must be able to spark intense debates.
Politics perfectly meets these three criteria; it is widely relevant, highly controversial, and inherently polarized. Political parties should issue their own tokens. Members can invest in these tokens to enhance their sense of belonging, while the free market will quantify public sentiment. With its natural narrative advantage, these communities will be self-sustaining and highly active. Imagine the Republican and Democratic parties launching official PoliFi tokens, with ETFs tracking tokens supported by politicians. Trump Coin may just be the beginning.'
According to the Washington Post, four U.S. officials revealed that agents from the government efficiency department led by Musk have obtained highly confidential government records of millions of federal employees, including officials in sensitive security positions within the Treasury and State Departments. This is part of a broader effort aimed at competing for control over the government's main personnel agencies.
Recently, I've come across many videos related to Musk announcing his inheritance plan. I hope this is rumor, but Musk and Trump are indeed making significant reforms that greatly affect many people's interests. It's unlikely that no one is targeting him. Both he and Trump are making reforms for the prosperity of their country, which can be considered heroic in this era. I hope he can act more low-key in the future.
Michael Saylor tweets with Bitcoin symbol: “Grand Strategy Day” may bring big announcement
Previously, Michael Saylor had been increasing his holdings of BTC, but he stopped increasing his holdings a few days ago. The market speculated that it might be due to the fact that it was included in the Nasdaq 100 Index and was subject to rules such as a lock-up period. Now he has posted a tweet with the Bitcoin symbol saying "Grand Strategy Day". Is there going to be a big move?
Since yesterday, the JUP organizers have been live streaming, during which they announced many positive news, causing JUP to temporarily surge by 30%. The positive news is as follows:
1. 50% of the protocol fees will be used to buy back JUP.
2. Jupiter and Eliza Labs jointly launch a $10 million open-source AI development fund.
3. Jupiter announces the launch of the full-chain network Jupnet.
4. Jupiter: will explore allowing users to deposit JLP to borrow USDC.
5. Jupiter announces the acquisition of the Solana blockchain investment portfolio tracker Sonarwatch.
6. Jupiter has acquired a majority stake in Moonshot.
This coin ensures the release of TRUMP through close cooperation with the Meteora team, along with the organizer's upgrades, leading to better traffic and currently in an upward trend. I think it's worth buying a little, as there will be significant growth potential in the future.
The SEC may make its initial decision on the Solana ETF next week
Golden Finance reports that the Solana ETF applications submitted by four institutions, including VanEck, 21Shares, Canary, and Bitwise, will face the SEC's first review deadline on January 25, 2025. These 19b-4 applications were formally accepted by the SEC on November 21, 2024. According to the approval process, the SEC is required to make an initial decision within 45 days of acceptance, and it may choose to approve, deny, or delay.
This week, the results may not be announced by Friday due to the busy transition between new and old SEC leaders and members, as the SEC typically does not announce such resolutions on Saturdays and Sundays. Therefore, the SEC may announce specific results next week.
The central bank and other five departments: support the legal cross-border purchase of qualified investment products sold by Hong Kong and Macau financial institutions.
BlockBeats news, January 22, recently, five departments including the central bank jointly issued (Opinions on the pilot integration of international high standards in the financial sector in conditional free trade pilot zones (ports) to promote institutional opening).
By allowing foreign financial institutions to carry out new financial services similar to those of Chinese financial institutions, the new financial services referred to in this opinion are financial services that are not provided within the national borders but are already offered and regulated in other countries or regions. The Greater Bay Area is continuously optimizing the 'Cross-Border Wealth Management Connect' pilot, supporting mainland residents in the Greater Bay Area to purchase qualified investment products sold by Hong Kong and Macau financial institutions through these institutions. Expanding the range of participating institutions and qualified investment products, etc.