JH Kim

On the 4th (local time), according to the professional media Cointelegraph, Uphold Financial Platform has announced the launch of a new virtual asset off-ramp solution through its proprietary settlement platform Topper. Uphold explained about this, "This solution supports a total of 232 types of virtual assets" and "It is characterized by the ability to use it in various Uphold platforms, including Self-Care Wallet and DEX (Decentralized Exchange)."

On the 4th (local time), CNBC reported that "cryptocurrency investors are significantly increasing cryptocurrency donations to charitable organizations with tax benefits in mind." Fidelity Charitable received cryptocurrency donations amounting to $380 million in 2022 and $490 million in 2023, but this year it has significantly increased to $6.58 billion. Although DAF Giving 360 did not disclose specific figures, this year, the proportion of cryptocurrency in donations reached 63%. According to the cryptocurrency donation platform 'The Giving Block', 56% of the top 100 US charitable organizations received cryptocurrency donations as of January this year. The media stated, "This situation is seen as a result of cryptocurrency donations providing tax benefits," adding, "If a cryptocurrency investor donates a portion, they can avoid capital gains tax, and charitable organizations can reduce taxes by 30% or more if they hold the donated cryptocurrency for more than a year." This is evaluated as an increasingly effective tax-saving method as cryptocurrency donations continue to rise.

The three major U.S. stock indices are showing an upward trend. The Nasdaq Composite Index is trading at 19,610.61 points, up 0.67% from the previous day as of 00:01 on the 5th. The Dow Jones Index is recording 44,953.94 points, up 0.56%, and the S&P 500 Index is recording 6,069.10 points, up 0.32%.

The three major U.S. stock indices ended mixed. The Nasdaq Composite index recorded an increase of 0.39% from the previous day, closing at 10,947.89 points. The Dow Jones index fell by 0.17% to 10,470.53 points, while the S&P 500 index rose by 0.04% to 6,049.50 points.

According to CNBC on the 3rd (local time), OpenAI announced that it has appointed Kate Rouch, former Chief Marketing Officer (CMO) of Coinbase, as its first CMO. Previously, Kate Rouch joined Coinbase in August 2021, leading global marketing and promotions, and overseeing the exchange's Super Bowl advertisement. She stated through her X (formerly Twitter), "Today is my last day at Coinbase," and "I will join OpenAI as the first CMO on the 9th."

On the 3rd (local time), according to the specialized media Doublelock, Namada, a Layer 1 project that strengthens privacy, announced the launch of its Mainnet and the creation of a zero-knowledge system block for the network. Following this, the first stage of the Mainnet launch will activate staking and governance. Namada plans to proceed with the Mainnet launch in five stages, and in the first stage, it will allow staking of its native token NAM to validators and voting on on-chain governance proposals.

On the 3rd (local time), CoinDesk, a media specializing in virtual assets, reported that "Paul Gensler, former member of the U.S. Securities and Exchange Commission (SEC), is being mentioned as a strong candidate for the SEC chairman position." Donald Trump, the U.S. presidential candidate, is known to have nominated Paul Gensler as the next SEC chairman. On the other hand, Paul Gensler is well known as a close acquaintance of Coinone, a virtual asset regulated by Coinone.

On the 3rd (local time), the cryptocurrency news specialist X (formerly Twitter) account db reported that "Donald Trump, the former US President, nominated Paul Atkins, known for his friendly stance towards cryptocurrency, as the next chairman of the US Securities and Exchange Commission (SEC)." Atkins, who served as an SEC commissioner from 2002 to 2008 under the George W. Bush administration, is the founder of the consulting firm Patomak Global Partners, which primarily serves financial institutions. He has been recognized for his cryptocurrency-friendly stance in the industry. Atkins is also a strong supporter of digital assets and fintech companies, advocating in Congress for the restructuring of SEC operations and discussing ways to reduce overlapping or excessively complex regulations. In the industry, there has been ongoing criticism that the SEC, under Gensler's leadership, is not clearly defining regulations and is establishing them through enforcement. If Trump regains power, such practices are expected to change. Trump has promised supporters to appoint a regulatory environment friendly to cryptocurrency and to end the government's 'anti-cryptocurrency movement' upon taking office. Under the guidance of the new SEC appointee, the SEC is expected to continue focusing on basic tasks such as fraud prevention, speeding up internal transactions, preventing Ponzi schemes, and restricting the disclosure of misleading or false information. On the other hand, Atkins's leadership is expected to provide a more innovative environment for US cryptocurrency regulations, and there is a possibility that the current critical view of the SEC leadership's remaining authority will change.

On the 4th, the domestic virtual asset exchange Bithumb announced that "due to an increase in virtual asset withdrawal amounts, the time required for withdrawal completion is temporarily delayed" and that "withdrawals are being processed sequentially, and separate notifications will be made when normalized."

On the 4th, the domestic virtual asset (cryptocurrency) exchange Upbit announced that the service can be used normally after the suspension of service continuity. Previously, the exchange stated, "Currently, due to a temporary traffic increase, the Upbit app (Android, iOS) and Open API services are experiencing continuity issues."

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Ju Ki-young, CEO of CryptoQuant, stated on the 3rd (local time) via X (formerly Twitter) that "the Korean president has declared martial law" and "all media and publications must be controlled by the martial law command." He added, "We all need to find refuge on X." Meanwhile, he tagged Elon Musk, CEO of Tesla, in the post.

The three major U.S. stock indices are showing mixed trends. The Nasdaq Composite index is trading at 10,429.57 points, up 0.13% from the previous day as of 00:08 on the 4th. The Dow Jones index fell 0.20% to 34,692.02 points, while the S&P500 index recorded a 0.03% decline to 6,045.60 points.

The three major U.S. stock indices closed mixed. The Nasdaq Composite index recorded an increase of 0.96% compared to the previous session, reaching 10,403.58 points. The Dow Jones index fell by 0.29% to 34,782 points, while the S&P 500 index rose by 0.23% to 6,046.30 points.

According to Cointelegraph, a cryptocurrency-focused media outlet, cryptocurrency market maker DWF Labs has announced its headquarters relocation to Abu Dhabi, United Arab Emirates (UAE) on the 2nd (local time). This move aims to strengthen its presence in the Middle East and is part of a strategy to expand real-world assets (RWA) and financial services. However, specific details have not been disclosed.

On the 2nd (local time), the professional media Cointelegraph reported that "Coinbase has canceled its application for a license to enter the Turkey virtual asset market" using documents from the Capital Markets Board (CMB). According to the report, the reason for the cancellation of the application was not disclosed. Coinbase had applied for a license to operate a virtual asset exchange in Turkey last August.