Donald Trump's TRUMP token has dropped 38% in value after his wife, Melania Trump, unexpectedly launched her own memecoin called MELANIA, attracting $6.14 billion in capitalization in just the first two hours.
On January 19, Melania Trump made waves in the cryptocurrency market when she launched the MELANIA token, right after the TRUMP token reached its peak valuation of $15 billion. This event created a new fever in the memecoin world, but at the same time put great pressure on the value of the TRUMP token.
The memecoin TRUMP has recorded an impressive growth of 130% in just 24 hours, with a forecast to reach a market capitalization of 100 billion USD by January 20, according to Arthur Hayes.
The surprising emergence of the memecoin TRUMP, directly linked to the image of President Donald Trump, has stirred up the cryptocurrency market in recent days. Arthur Hayes, co-founder of the BitMEX exchange, predicts that the value of TRUMP could hit 100 USD on January 20, the day Trump is expected to be inaugurated for a second term.
The U.S. Securities and Exchange Commission (SEC) has imposed severe penalties on Digital Currency Group (DCG) and former Genesis CEO Michael Moro, related to allegations of concealing financial information following the collapse of the Three Arrows Capital (3AC) fund.
The decision announced on January 17 stated that DCG must pay a fine of 38 million USD and face an operating ban for violating securities regulations. The SEC's investigation revealed that DCG systematically concealed the precarious financial condition of Genesis after 3AC defaulted on a 2.4 billion USD loan in mid-2022, resulting in losses exceeding 1 billion USD.
SEC Sues Nova Labs for Selling Unregistered Securities
The SEC accused Nova Labs of selling mining devices and a data exchange program for cryptocurrency as unregistered securities, just days before Chairman Gensler left office.
On January 17, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Nova Labs, the company behind the Helium network, alleging the offering of unregistered securities.
The lawsuit comes just days before SEC Chairman Gary Gensler, a prominent figure known for his tough stance on cryptocurrency, ends his term on January 20. This move continues the legal actions taken by the SEC against cryptocurrency companies during Mr. Gensler's tenure.
Crypto.com Pioneers in Receiving MiCA License in EU
Crypto.com, a cryptocurrency exchange with over 100 million users, becomes the first global exchange to receive preliminary approval to operate in the EU under the MiCA regulatory framework.
Crypto.com announced on January 17 that it has received preliminary approval for its Markets in Crypto-Assets (MiCA) license from an undisclosed regulator in the European Union (EU). This is a significant step, marking the exchange as the first global entity to achieve this milestone, affirming its leading position in adapting to the EU's new regulatory framework.
Trump Expected to Prioritize Cryptocurrency with Executive Order
President-elect Donald Trump may sign an executive order prioritizing cryptocurrency, directing industry cooperation and potentially forming a Bitcoin reserve fund.
According to Bloomberg, President-elect Donald Trump is preparing to sign an executive order making cryptocurrency a national strategic priority immediately after taking office on January 20. This move is seen as a breakthrough in the U.S. digital asset management policy.
South Korea's largest cryptocurrency exchange, Upbit, is facing the risk of being suspended from registering new users after being accused by the Financial Services Commission (FSC) of serious violations of customer identity verification (KYC) regulations.
On January 16, the FSC announced that Upbit may have to temporarily stop accepting new users for six months if it does not respond to the allegations by January 20. If the exchange does not provide a suitable explanation or corrective measures, the suspension order will officially take effect from January 21.
CryptoQuant's survey shows that over 60% of cryptocurrency investors are aged 25-44, mostly hold a college degree, and prefer the Binance exchange.
A recent survey conducted by on-chain analysis company CryptoQuant painted a comprehensive picture of the global cryptocurrency investor community. The report 'Crypto Survey 2024: Behavior and Exchange Usage', published on January 15, reveals that the majority of cryptocurrency investors are young, highly educated individuals who prefer spot trading on the Binance exchange.
U.S. Proposes to Return Stolen Bitcoin to Bitfinex from 2016
The U.S. government proposes to return 94,643 BTC worth 11.8 billion USD to Bitfinex that was stolen in 2016, after the Lichtensteins were convicted.
The 2016 hack of the Bitfinex cryptocurrency exchange, one of the largest thefts in the history of cryptocurrency, is entering a new chapter with a legal proposal from the U.S. government regarding the reimbursement of the stolen Bitcoin to the exchange itself. This is a significant development after the two main suspects in the case have been arrested and convicted.
South Korea Takes Strong Action Against Cryptocurrency Manipulation
South Korea has first applied the new law, prosecuting a suspect for manipulating cryptocurrency prices and earning hundreds of millions of won in just one month through the 'pump and dump' method.
South Korea is intensifying efforts to control the cryptocurrency market, as evidenced by the first application of the Virtual Asset User Protection Law to prosecute price manipulation. The case was announced by the Financial Services Commission (FSC) on January 16, marking an important step in protecting investors in this nascent digital asset market.
BitMEX Fined $100 Million and Given 2 Years of Probation
BitMEX, the cryptocurrency exchange, was fined $100 million and given two years of probation for violating U.S. anti-money laundering laws. The case concludes a four-year investigation.
On January 15, Judge John Koeltl of the Southern District of New York sentenced HDR Global Trading Limited, the parent company of the cryptocurrency exchange BitMEX, to two years of unsupervised probation and a $100 million fine.
The ruling was issued after BitMEX pleaded guilty to violating the Bank Secrecy Act (BSA) for failing to implement a 'meaningful' Anti-Money Laundering (AML) program. This event marked the end of a four-year investigation by the U.S. government into BitMEX and its leaders regarding allegations related to money laundering activities.
Arkansas Considers Banning Cryptocurrency Mining Near Military Bases
Arkansas proposes banning cryptocurrency mining within a 30-mile radius of military bases, sparking controversy over national security and environmental impact.
A bill in Arkansas is causing a stir in the cryptocurrency industry as it proposes to ban cryptocurrency mining activities within a 30-mile radius (equivalent to 48 km) of military bases statewide.
Senate Bill 60 (SB 60), introduced by Senator Ricky Hill and House Speaker Brian Evans on January 15, amends the Arkansas Data Center Act of 2023 to prevent cryptocurrency mining facilities from operating near military facilities, including bases, camps, hospitals, clinics, and armories. A saving clause allows facilities that have completed construction and are operational before December 31 to continue operating.
Thailand Considers Bitcoin ETF and Strict Oversight of Polymarket
Thailand is gradually building a balance between promoting innovation in the cryptocurrency sector and protecting investors' interests, with notable moves such as considering domestic Bitcoin ETFs and banning the operation of the Polymarket prediction platform.
Thailand is actively working to shape the cryptocurrency market by combining incentives and controls. The Thai Securities and Exchange Commission (SEC) is considering approving a Bitcoin exchange-traded fund (Bitcoin ETF), thereby allowing direct trading on domestic exchanges.
Oklahoma Proposes Establishing a Bitcoin Reserve Fund
Oklahoma has just joined the group of pioneering states in the U.S. proposing to establish a Bitcoin reserve fund.
Bill 1203, proposed by Representative Cody Maynard, aims to create a Bitcoin fund valued at up to $850 million. Under this bill, the Oklahoma State Treasurer will be allowed to allocate up to 10% of capital from the main reserve funds into Bitcoin and approved stablecoins. This is an effort to diversify the state's reserve assets while leveraging the growth potential of the cryptocurrency market.
Malaysia is considering establishing a cryptocurrency legal framework, following discussions with Abu Dhabi and Binance founder CZ, paving the way for a new era in digital finance.
Malaysia is gradually shaping a new digital financial era, with plans to establish a legal framework for cryptocurrency following high-level discussions with officials from Abu Dhabi and Changpeng Zhao (CZ), the founder of Binance – one of the largest cryptocurrency exchanges in the world.
Tether Relocates Headquarters to El Salvador After Receiving Approval
Tether, the largest stablecoin issuer in the world, will relocate its headquarters and subsidiaries to El Salvador after receiving operational approval from the country.
The stablecoin issuer Tether officially announced the relocation of its headquarters and subsidiaries to El Salvador on January 13, after receiving an operating license as a digital asset service provider and stablecoin issuer from the government. This is a significant turning point, marking the official presence of one of the largest stablecoin companies in the Central American country.
Thailand Considers Legalizing Cryptocurrency and Online Gambling
Former Prime Minister Thaksin promotes stablecoin, online gambling, expecting to collect an additional 100 billion baht in taxes and innovation.
Former Prime Minister Thaksin Shinawatra is strongly advocating for the legalization of cryptocurrency, especially stablecoins, along with online gambling to increase budget revenue and promote technological innovation. This proposal comes amid the government led by his daughter, Prime Minister Paetongtarn Shinawatra, considering similar measures to revive the economy.
Intesa Sanpaolo bank buys 11 bitcoins worth over one million dollars, marking the first time a major financial institution in Italy has invested in cryptocurrency.
On January 13, Italy's largest bank, Intesa Sanpaolo, caught attention by executing a purchase of 11 Bitcoin (BTC) worth approximately 1.02 million USD, marking the first time a major financial institution in this country has participated in the cryptocurrency market. This information was revealed through an internal email from Mr. Niccolò Bardoscia, head of the bank's digital asset trading department.
CFPB Proposes New Regulations Tightening Management of Cryptocurrency Wallets
The U.S. Consumer Financial Protection Bureau (CFPB) proposes to apply the Electronic Fund Transfer Act (EFTA) to cryptocurrency wallets, making providers responsible for unauthorized transactions.
The U.S. Consumer Financial Protection Bureau (CFPB) announced a new regulatory proposal on January 10, aimed at expanding the scope of the Electronic Fund Transfer Act (EFTA) to cryptocurrency wallets. This move could significantly alter the legal landscape of the cryptocurrency market, forcing wallet providers to be legally accountable for unauthorized transactions, including those resulting from cyberattacks or fraud.
MoonPay Spends $175 Million to Acquire Helio, Expanding Cryptocurrency Payments
MoonPay has just acquired the blockchain payment platform Helio for $175 million, aiming to strengthen its position in the cryptocurrency payment sector and expand services for over 20 million users worldwide.
On January 13, MoonPay, a leading fiat-to-crypto conversion service provider, officially completed the acquisition of Helio for $175 million. Helio is a payment processing platform based on the Solana blockchain, allowing businesses to accept payments in various digital assets, including Bitcoin, Ether, Solana, and USD Coin. This deal marks a strategic advancement for MoonPay in expanding its payment ecosystem and strengthening its leading position in this rapidly growing market.