Hi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
On the 5th (local time), cryptocurrency-focused media Cointelegraph reported, citing a report from the cryptocurrency donation platform The Giving Block, that cryptocurrency donations surpassed $1 billion last year. Cryptocurrency donations were mainly made in New York, Florida, California, and Pennsylvania in the United States. Meanwhile, the donations were primarily directed towards education and health sectors.
On the 5th (local time), according to the crypto-specialized media CryptoPotato, the American nonprofit organization EMPOWR (Empower Oversight Whistleblowers & Research), which monitors illegal activities of governments and corporations, has filed a lawsuit against the Securities and Exchange Commission (SEC) regarding the withholding of a crypto asset-related report. The SEC's Office of the Inspector General completed the report a year ago and has not disclosed it despite multiple requests under the Freedom of Information Act (FOIA). Additionally, the lawsuit is said to include a request for the release of documents related to former SEC Director of Corporation Finance William Hinman.
On the 5th (local time), according to Bitcoin Magazine, a cryptocurrency-focused media outlet, the American investment magazine Barron's reported, citing anonymous sources, that the United States Federal Deposit Insurance Corporation (FDIC) plans to revise guidelines to allow banks to offer virtual asset services without separate approval from authorities. It is known that some banks have already been in discussions with government officials regarding this.
On the 5th (local time), according to Eleanor Terrett, a Fox Business reporter, US Senator Cynthia Lummis has obtained and disclosed an internal guideline from the Federal Reserve, which includes the directive to 'exercise caution when dealing with controversial clients.' This document was revealed by Cynthia Lummis during a de-banking hearing, referring to the practice where banks unilaterally freeze accounts related to cryptocurrency. It is an internal guideline provided to Federal Reserve staff responsible for reviewing and granting access to the Master Account, which is the Federal Reserve's payment system access authority. She stated, "Applications for Master Accounts from some new banks related to sensitive industries such as cryptocurrency and cannabis businesses have been rejected without clear explanation," adding, "The Federal Reserve claims not to discriminate against specific industries or individuals for political reasons or excessive risk aversion, but the internal documents contain information that contradicts this. Additional materials will also be disclosed."
Ki Young Ju, CEO of CryptoQuant, reported on the 5th (local time) via X (formerly Twitter) that "TRON (TRX) has surpassed Ethereum (ETH) in network fee revenue."
MicroStrategy (NASDAQ: MSTR), the company holding the most Bitcoin (BTC) among single entities, announced in a press release on the 5th (local time) that it will change its company name to 'Strategy'.
According to Decrypt, a crypto-focused media outlet, anti-crypto U.S. Senator Elizabeth Warren attended a de-banking hearing on the 5th (local time) and stated, "I want to work with President Donald Trump and Senate Republicans to end this practice." She emphasized, "De-banking is a problem. This should not happen," and stressed the need to find out who is responsible and why it was done.
According to The Block, a cryptocurrency-focused media outlet, the CBOE BZX Exchange, a subsidiary of the Chicago Board Options Exchange (CBOE), has proposed an amendment to Rule 19.3 to the United States Securities and Exchange Commission (SEC) to support the listing and trading of Ethereum (ETH) spot Exchange-Traded Fund (ETF) options. This includes all trusts holding Ethereum, such as Bitwise Ethereum ETF, Grayscale Ethereum Trust, and Grayscale Ethereum Mini Trust. Meanwhile, options trading for Bitcoin (BTC) spot ETFs was officially launched last November.
On the 5th (local time), Bloomberg reported, citing multiple sources, that BlackRock is planning to list a Bitcoin (BTC) ETP in Europe. The media outlet stated, "BlackRock is expected to start marketing the fund as early as this month," adding, "Currently, there are about 160 crypto-related ETPs listed on European stock exchanges, but this is the first time BlackRock is launching a Bitcoin ETP outside of North America."
According to cryptocurrency media Cointelegraph on the 5th (local time), cryptocurrency trader Rekt Capital analyzed that "Bitcoin (BTC) dominance (the proportion of Bitcoin in the total cryptocurrency market capitalization) hit bottom late last year," and "it seems that the altcoin season has already ended." He explained, "As a result of analyzing the Bitcoin dominance chart, the 55% recorded in December last year was the lowest level, and it has since risen by about 6%." He added, "For the altcoin season to regain momentum, Bitcoin dominance needs to exceed 70%, but the current dominance has slightly declined after recently recording 64.3% and is maintaining around 60%."
According to Eleanor Terrett, a Fox Business reporter, on the 5th (local time), Mike Ring, CEO of Old Glory Bank, which was established in 2022 to address de-banking issues, testified at a United States Senate hearing on de-banking (the practice of banks unilaterally freezing accounts related to crypto assets) as follows. He claimed, "Regulators have been pressuring banks that act as crypto custody institutions and have collaborated with various agencies, including the Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission (SEC), to curb demand for deposit services." He further emphasized, "It is no coincidence that the FDIC announced the related regulation FIL-16-2022 in 2022, and the SEC simultaneously announced SAB 121 in the same year." Previously, the newly formed leadership of the FDIC had released documents indicating that they have been monitoring banks that have provided or attempted to provide crypto-related services.
The three major indices of the United States stock market are showing mixed trends. The Nasdaq Composite Index is trading at 19,575.66 points, down 0.40% from the previous day as of 01:06 on the 6th. The Dow Jones Index is up 0.02% at 44,463.83 points, while the S&P 500 Index is down 0.19% at 6,026.69 points.
The three major indices of the U.S. stock market closed with gains. The Nasdaq Composite Index rose by 1.35% to 19,654.02 points on the 6th. The Dow Jones Index increased by 0.32% to 44,564.52 points, and the S&P 500 Index ended trading up 0.72% at 6,038 points.
According to the virtual asset (cryptocurrency) market insight platform Unfolded, on the 4th (local time), David Sachs, the Trump Administration's virtual asset and AI chief (Crypto Czar), stated that they are "studying the feasibility of Bitcoin (BTC) reserves." Meanwhile, BTC is trading at $98,187.41, down 3.48% from the previous day, based on the Binance Tether (USDT) market as of 5:02 on the 5th.
According to the cryptocurrency-focused media outlet Daily Hodl on the 4th (local time), India is pushing for a bill that would impose up to 70% additional tax on virtual asset trading profits if not reported within the deadline. The bill stipulates that virtual asset investors must report transaction information to the tax authorities, and additional taxes will be levied for delayed reporting. Furthermore, unreported income can be amended within a maximum of 48 months from the income tax filing deadline.
Bitcoin (BTC) temporarily dropped below the $99,000 mark. Meanwhile, BTC is trading at $98,970.23, down 2.45% from the previous day, as of 04:53 on the 5th, based on the Binance Tether (USDT) market.
Bitcoin (BTC) temporarily dropped below the $100,000 mark. Meanwhile, BTC is trading at $99,595.99, down 1.96% from the previous day, as of 04:49 on the 5th, based on the Binance Tether (USDT) market.
According to foreign media on the 4th (local time), Morgan Stanley predicted that the Federal Reserve (Fed) will not cut rates in March. They expect a rate cut in June, stating, "The Trump administration is imposing tariffs faster than we anticipated," and "This means that the decline in inflation may stagnate, reducing the likelihood of a rate cut in the short term."
Bitcoin (BTC) temporarily recovered the $100,000 mark. Meanwhile, BTC is trading at $100,229.78, down 0.74% from the previous day, based on the Binance Tether (USDT) market at 04:40 on the 5th.
Eleanor Terrett, a Fox Business reporter, reported on the 4th (local time) via X (formerly Twitter) that the United States Commodity Futures Trading Commission (CFTC) plans to restructure its regulatory enforcement practices and optimize resource utilization to prevent fraud and market manipulation. Under this restructuring, the existing enforcement task force will be integrated into a Complex Financial Fraud Task Force and a Retail Financial Fraud and General Enforcement Task Force. This measure aims to prevent excessive exercise of authority by the agency and to strengthen regulatory consistency, fairness, and due process.
Justin Sun, the founder of TRON (TRX), stated on the 4th (local time) via X (formerly Twitter) that "the algorithmic stablecoin USDD, issued by the TRON DAO Reserve, is a truly permissionless (Zero Permission), trustless (Zero Trust), decentralized stablecoin." He added, "Some say that an annual interest rate of 20% is too high, but personally, I believe the crypto market desperately needs a fully decentralized stablecoin that requires no trust." He continued, "There is a need for a stablecoin that can be used safely without account freezes," adding, "I have come to deeply understand the seriousness of this issue through my long experience in creating stablecoins."
On the 4th (local time), cryptocurrency specialized media The Block reported that "after U.S. President Donald Trump announced tariff measures targeting major trading partners, the cryptocurrency market plummeted, but some DeFi protocol founders interpret this volatility as a positive signal." Mark Zeller of the Aave Chan Initiative (ACI) stated, "Unlike other exchanges, the decentralized cryptocurrency lending protocol Aave (AAVE) does not forcefully close all positions during liquidation, but only partially liquidates to reduce user losses." He continued, "The goal of the protocol is to keep positions healthy and minimize losses," explaining that "DeFi protocols have been continuously evolving to build safe platforms, and this market fluctuation has proven their achievements." Furthermore, well-known Ethereum (ETH) community activist Evan Van Ness evaluated that "except for some frontend issues, everything operated normally," and "DeFi was more stable than traditional finance during the crisis."
On the 4th (local time), Reuters reported, citing a U.S. government official, that U.S. President Donald Trump and Chinese President Xi Jinping are not expected to meet today. Earlier, White House spokesperson Caroline Levitt told reporters, "We are making efforts to schedule a call between President Trump and President Xi."
According to the cryptocurrency-focused media outlet CoinDesk on the 4th (local time), the Canadian listed company Neptune Digital Assets purchased 1 million Dogecoin (DOGE) at an average price of $0.37 on December 27th last year (local time). Furthermore, Neptune acquired 20 Bitcoin (BTC, approximately $37.2 million) at an average price of $99,833.
According to Cointelegraph, a cryptocurrency-focused media outlet, Anthony Scaramucci, founder of the US hedge fund SkyBridge Capital, predicted that "the US Congress is likely to push legislation favorable to the cryptocurrency industry ahead of next year's midterm elections." He stated, "Members of the House and Senate will likely emphasize pro-crypto legislative activities during competitive district and primary election processes," adding that "there is a high possibility that related legislation will emerge before the November recess this year." Furthermore, he noted, "Political Action Committees (PACs) linked to the cryptocurrency industry will play a significant role in the midterm elections," and "financial resources will influence the election landscape."
On the 4th (local time), the virtual asset (cryptocurrency) market insight platform Unfolded reported on X (formerly Twitter) that "Bitcoin (BTC) hashrate continues its upward trend, reaching an all-time high." According to CloverPool (formerly BTC.com), the Bitcoin network hashrate is currently at 828.24 EH/s. Meanwhile, BTC is trading at $99,767.05, up 1.12% from the previous day, based on the Binance Tether (USDT) market at 01:29 on the 5th.
On the 4th (local time), the virtual asset (cryptocurrency) market insight platform Unfolded reported on X (formerly Twitter) that "FTX Bahamas is set to commence repayments for claims under $50,000 starting February 18 (local time)."
On the 4th (local time), cryptocurrency-focused media outlet CoinDesk cited blockchain security expert ZachXBT, stating, "Users of the cryptocurrency exchange Coinbase have suffered losses exceeding $65 million over the past two months due to social engineering attacks, with estimated annual losses of around $300 million from such attacks." Furthermore, it was explained that "hackers used stolen personal data to send fake emails mimicking official communications from Coinbase," adding that "these cases include instances where users are tricked into transferring funds to fraudulent wallets."
Eleanor Terrett, a reporter for Fox Business, reported on the 4th (local time) via X (formerly Twitter) that U.S. Senator Bill Hagerty from Tennessee has introduced a new stablecoin bill, the 'GENIUS (Guiding and Establishing National Innovation in U.S. Stablecoins) Act.' The bill provides clear regulations for stablecoins in the United States and defines stablecoins as digital assets pegged to the U.S. dollar. Furthermore, Senate officials expect the bill to quickly pass through the congressional committee and it is scheduled to be discussed at a press conference with the administration's crypto and AI czar, David Sachs, on the 5th (local time).
The three major indices of the U.S. stock market are showing an upward trend. The Nasdaq Composite Index is trading at 19,591.25 points, up 1.03% from the previous day as of 00:19 on the 5th. The Dow Jones Index is up 0.08% at 44,457.12 points, and the S&P 500 Index is recording a 0.52% increase at 6,025.83 points.