On January 7, 2025, the following key events occurred in the world of cryptocurrency:
Gemini's Agreement with CFTC: The cryptocurrency exchange Gemini agreed to pay a $5 million fine as part of a proposed settlement with the U.S. Commodity Futures Trading Commission (CFTC). This is related to allegations of providing false information in 2017 while attempting to launch Bitcoin futures. The settlement will allow Gemini to avoid a civil lawsuit that was set to begin on January 21.
Consequences of the Terra Collapse: According to the U.S. prosecution, the number of people affected by the collapse of the Terraform Labs cryptocurrency project may exceed 1 million. In this regard, a website will be created with information about the lawsuits. It is worth noting that the project's founder, Do Kwon, is accused of fraud related to the collapse of the Terra ecosystem in 2022. Investments in Digital Assets: According to a CoinShares report, global inflows into investment products in digital assets reached a record $44.2 billion in 2024, nearly four times the level of 2021. Bitcoin led with $38 billion, Ethereum attracted $4.8 billion, and altcoins accounted for $813 million.
