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Tether's USDT stablecoin market cap hit a new all-time high of $135bn.
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The KRW-USD exchange rate hit a 15-year low, with Korean users on Upbit having to pay a 3-5% premium to exchange KRW for BTC and USDT.
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Bitwise filed for a Bitcoin Standard Corporations ETF with the SEC, aiming to hold shares of companies with at least 1,000 BTC in their corporate treasury assets.
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The top five best and worst performering crypto mining stocks are: Best 5: ⚫ MicroStrategy (MSTR): +402%, $83bn market cap. Largest corporate Bitcoin holder with over 440,000 BTC worth $40bn ⚫ Core Scientific (CORZ): +307%, $3.9bn market cap. Signed groundbreaking AI partnerships and expanded mining operations post-halving ⚫️ Terawulf (WULF): +142%, $2.15bn market cap. Achieved 100% YoY growth in self-mining hashrate ⚫ Bitdeer Technologies (BTDR): +122%, $2.75bn market cap. Pioneered vertical integration of Bitcoin mining and rig production ⚫ Hut 8 (HUT): +75%, $2.06bn market cap. Benefited from energy infrastructure and mining capabilities, earning strong ratings from analysts Worst 5: ⚫️ Gryphon Digital Mining (GRYP): -92%, $23m market cap. Reported revenue decline and net losses, reflecting operational challenges ⚫ Argo Blockchain (ARBK): -80%, $44m market cap. Struggled with funding and diversification efforts amid challenging conditions ⚫️ Greenridge Generation (GREE): -74%, $25m market cap. Overcame regulatory disputes but suffered significant market losses ⚫️ Bitfarms (BITF): -43%, $917m market cap. Involved in takeover conflicts that undermined stability ⚫️ Hive Digital (HIVE): -32%, $522m market cap. Saw reduced revenue and increased losses despite modest operational improvements
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Turkey introduced new crypto AML regulation, which requires users who trade more than 15,000 Turkish liras ($425) to provide their ID information to the country's cryptocurrency service providers. The regulations will take effect on February 25, 2025.
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Coinbase reached a new all-time high of $119bn in weekly trading volume, averaging nearly $20bn daily. The top trading pairs were perpetual futures for BTC, ETH, SOL, XRP, and DOGE, which accounted for 99.8% of the exchange’s total volume this week.
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