PA Daily | BTC approaches $110,000; Trump will be sworn in at 1 a.m. on January 21
Reprinted from panewslab
01/20/2025·1days agoToday’s news tips:
BTC broke through $109,000, with an intraday increase of 3.95%
Binance Futures will list MELANIAUSDT 1-25 times USDT perpetual contract
Robinhood announces it has listed TRUMP
Trump’s wife issued Meme coin MELANIA, with a current market value of approximately US$6.4 billion
Trump will be sworn in at 1 a.m. Beijing time on January 21
Italian lawmaker urges country’s banking foundation to buy Bitcoin
Regulation/Macro
Thailand plans to launch crypto regulatory sandbox in Phuket this October
Former Thai Prime Minister Thaksin Shinawatra said the cryptocurrency sandbox is expected to be launched in Phuket in October, the Thailand Post reported. Discussing the ASEAN economy, Thaksin said Thailand is more willing than any other country in the region to promote the development of cryptocurrencies, especially in the wake of U.S. President-elect Donald Trump's plans to adopt cryptocurrencies. He said other countries in the region were also keen to hold talks with Thailand on cryptocurrencies, which he described as an opportunity to inject money into the economic system. Asked about his recent remarks about inviting ASEAN countries to talks on the issue, Thaksin said such discussions were ongoing. He stressed that cryptocurrencies should be adopted quickly as delays could cause the best minds in the field to migrate to the United States. He noted that cryptocurrencies should not be confused with gambling, calling it a new form of currency backed by assets such as gold or government bonds. These currencies, known as "stablecoins," are less risky than other currencies, he said. He said Thailand would not accept high-risk cryptocurrencies and expected to launch a cryptocurrency sandbox involving the private sector in October.
Class Action Waiver Included in TRUMP Coin Purchase Terms
According to information on the TRUMP coin official website, the TRUMP coin purchase terms include a class action exemption clause. The terms read: To the extent permitted by law, investors participating in the purchase agree not to initiate, join or participate in any class action lawsuit with respect to any claim, dispute or controversy brought by any insured person. Investors agree to enter injunctive relief to stop such litigation or to remove you as a participant in the litigation. Investors agree to pay attorneys' fees and litigation costs incurred by any insured in seeking such relief. This provision preventing an investor from bringing, joining, or participating in a class action lawsuit: (i) does not constitute a waiver of any of the investor’s rights or remedies to bring claims individually, nor does it constitute a waiver of a class action in binding arbitration as described above; (ii) is A separate agreement. Investors may opt out of these dispute resolution provisions by providing written notice of decision within thirty (30) days of the date of first accessing the Site.
Trump will be sworn in at 1 a.m. Beijing time on January 21
According to Jinshi, Trump will be sworn in at 12 noon Eastern Time on the 20th (1 a.m. Beijing time on the 21st) under the auspices of Chief Justice Roberts of the United States. Trump will then deliver an inaugural speech. The three richest people in the United States, Musk, Bezos, and Zuckerberg, attended the event together. Two sources said that Trump is preparing to issue a large number of executive orders and directives on his first day in office. The total number may exceed 100, covering immigration, energy production, etc. The official event was paid for by Trump's Inauguration Committee. Except for the cost of a swearing-in ceremony at the Capitol, which will be borne by taxpayers, all other costs will be borne by the committee. Bezos, Zuckerberg, Cook and Altman each pledged to donate $1 million to the committee. According to media reports, the Trump Committee raised more than $170 million this time.
On-chain data shows that 37 minutes ago, El Salvador increased its holdings by 11 BTC ($1,113,508), bringing its total holdings to 6,043.18 BTC, worth $608,264,513.
Italian lawmaker urges country’s banking foundation to buy Bitcoin
An Italian lawmaker is urging Italy’s banking foundations to invest in Bitcoin, arguing that such investments could accelerate the country’s support for the leading cryptocurrency, Decrypt reported. However, while the United States is pushing for a strategic Bitcoin reserve at both the national and state levels, he does not expect Italy to establish a similar reserve anytime soon. Italian MP Marcello Coppo said in an interview on Friday that bank foundations should allocate a small part of their income to digital assets such as Bitcoin to potentially obtain substantial returns on investment; the foundation’s investment in Bitcoin may stimulate public concern The support of this cryptocurrency, while Bitcoin has long been the object of "excessive distrust" in Italy; we can start from a place where the risks are very low, and any positive tests can serve as case studies and examples. According to previous news on January 14, Italian bank Intesa Sanpaolo purchased 11 BTC for about 1 million euros.
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Nova Labs, the creator of the Helium network, accusing the company of selling unregistered securities and misleading investors, The Block reported. This is the latest and likely final enforcement action under outgoing Chairman Gary Gensler. The lawsuit, filed on Friday, targets three Helium-related tokens: Helium Network Token (HNT), Helium Mobile Token (MOBILE) and Helium Internet of Things Network Token (IoT), which the SEC accuses of acting as Sale of Unregistered Securities. The lawsuit also accuses Nova Labs of misleading investors about multiple high-profile partnerships. Although the company told investors that companies such as Nestlé, Lime and Salesforce were using the network, the lawsuit said the companies were neither customers nor "users" of the network. “In fact, when Nestlé and Lime learned that Nova Labs was publicly touting their alleged relationship, each company sent cease and desist letters to Nova Labs,” the lawsuit states. The lawsuit seeks fines against the companies and a ban on purchasing, Offer or sell any cryptoasset offered as a security. Haleem posted a defiant message on X on Sunday, calling the lawsuit "the last gasp in America's failed crusade against crypto companies." "The SEC wasted two years of our time and millions of our dollars pursuing any allegation they could think of... I don't get angry often, but this series of events is outrageous," Haleem said on the allegations that Helium misled investors. , Haleem said: “We have addressed this issue in the past and worked with each company named in the complaint. "We will vigorously defend ourselves and continue the SEC's record of dismal failures and blatant lies, not just for our sake, but for all DePIN projects," Haleem concluded. At risk. We won't let that happen."
Financing/Acquisition
OSL Completes Acquisition of Japanese Crypto-Asset Trading Platform Coin Best
OSL, a Hong Kong-listed company, issued a voluntary announcement announcing that it has completed the acquisition of Coin Best, a Japanese licensed crypto asset trading platform. Coin Best will become an indirect subsidiary of OSL Group.
According to official news, the blockchain-based animation platform Oshi announced the completion of US$12.5 million in financing, led by Polychain Capital and Superscrypt, with participation from Folius Ventures, Sfermion, The Spartan Group, Nomad Capital, CMT Digital, etc. According to reports, Oshi is an open animation platform based on blockchain. Through Oshi, fans can directly support their beloved animation projects and receive exclusive benefits. The platform’s IP licensing infrastructure enables IP owners to maintain control over their works. Take control while connecting with dedicated global partners.
Project news
Binance Futures will list MELANIAUSDT 1-25 times USDT perpetual contract
According to the official announcement, the Binance Futures platform will launch the MELANIAUSDT perpetual contract at 17:30 on January 20, 2025 (Eastern Eighth District time), with a maximum leverage of up to 25 times.
Robinhood announces it has listed TRUMP token
Robinhood announced on the X platform that OFFICIAL TRUMP (TRUMP token) can now be traded on Robinhood.
Trump family encryption project WLFI once again bought 2 ENS domain names including yatogame.eth
Information on the chain shows that the Trump family encryption project World Liberty (WLFI) multi-signature address purchased the two ENS domain names 9290.eth and yatogame.eth again in the past hour. Earlier today, it was reported that WLFI purchased four ENS domain names: WorldLiberty.eth, trumpcoin.eth, erictrump.eth, and barrontrump.eth.
According to the official website, the Trump family’s encryption project World Liberty Financial (WLFI) has begun selling an additional 5% supply of 5 billion WLFI, with the unit price increasing to US$0.05, compared with US$0.015 in previous sales. . Currently, approximately 550 million pieces of this 5% supply have been sold, worth US$27.5 million.
Solana re-staking platform Solayer said on the Public distribution is now complete and Emerald debit cards are being distributed.”
Network3 will take a snapshot on January 21st
According to official news, the decentralized Edge AI infrastructure Network3 announced that it will take a snapshot of users at 8:00 am UTC time on January 21 (4:00 pm Beijing time on the 21st). All users who have completed registration and bound wallets before will Be eligible to receive airdrops in the future. After the snapshot is completed, the software and hardware nodes will switch to produce N3C computing power tokens, and the N3C computing power tokens can be exchanged for mainnet $N3 tokens. According to previous news, Network3 token $N3 will start spot trading on Bybit, Gate.io, and BingX on January 22. Currently, Network3 is holding a Pre-TGE airdrop event, and 50 million tokens will be given back to the community and node users as rewards. Users can log in to the Network3 official website and complete designated tasks to obtain a free airdrop of 40,000 points. Network3 announced on July 23, 2024, that it had completed pre-seed & seed round financing of US$5.5 million. Investors include well-known VCs such as Borderless, EV3 Labs, IoTeX, SNZ, Bing Ventures, Waterdrip Capital, and Web3port Foundation.
Students for Trump Lianchuang denies fraud charges after selling half supply of meme coin 'TIKTOK'
Ryan Fournier, a conservative activist and co-founder of Students for Trump, has faced strong criticism from Meme currency traders for selling half of the supply of Meme coins created to celebrate the unbanning of TikTok, The Block reported. Fournier said on X Space on Sunday night that he came up with the idea of a TikTok-themed meme coin with a meme trader (presumably X user "Asta") after TikTok relaunched in the United States. . According to two traders, Asta created the coin and sent half of the supply to Fournier. The coin quickly surged in value, with a market capitalization of over $90 million. However, when prices began to fall, Fournier admitted to selling his reserves. A wallet previously confirmed by Fournier exchanged 505 million TIKTOK tokens for approximately $700,000 worth of SOL at 20:28 UTC on Sunday. "All of a sudden, Asta sold, and then I sold, so I didn't know what was going on... I thought the guy was a liar and he scammed me and I did the same," Fournier said. Although Asta The wallet does not show any sales records of TIKTOK tokens, but Fournier claims that Asta has been purchasing the tokens from other accounts. Fournier has denied profiting from the sale in X Space and has repeatedly insisted he was defrauded by the token's creator, claiming he "almost lost money" after buying and then selling the token. He said: "We will correct the mistake, no matter what I do, if I have to give you $50,000 in cash, I will find a way to do it. I am very ashamed of what happened today." Fournier also posted on X, He will stay away from cryptocurrencies in the future “until I have a better idea of who to trust” as he looks forward to working for President Trump’s new administration. However, in Space, he boasted about his ties to Trump’s cryptocurrency advisor.
Justin Sun: TRON DAO invests an additional $45 million in Trump family encryption project WLFI
Sun Yuchen posted on the
Jupiter: The system is currently under extreme load and is working hard to recover.
Jupiter, the Solana ecological decentralized exchange, said on the Click to help users complete transactions if they want to try to trade with lower fees/slippages. Please use manual mode, but please note that transactions may be difficult to complete. On Solana, gas fees will still be deducted if the transaction fails, so please trade with caution. Especially for perpetual contracts, you can use the underlying asset such as SOL/BTC/ETH) or use USDC to open a short position to increase the chance of a successful transaction.”
Phantom said on the X platform that the number of requests per minute has surged to more than 8,000,000 times. In an effort to stabilize the platform, transactions may not complete successfully on the first try.
Trump’s wife issued Meme coin MELANIA, with a current market value of approximately US$6.4 billion
Trump’s wife Melania said on social media in the early morning that people can now buy the Meme coin MELANIA. According to gmgn data, MELANIA’s market value is currently approximately US$6.4 billion. Trump forwarded this message after he had previously issued his own exclusive cryptocurrency, TRUMP, which plunged after his wife announced the issuance of MELANIA. It briefly fell below $40 and then rebounded, now back to $46.
point of view
Matrixport issued a statement saying that the launch of $TRUMP coin over the weekend triggered a trading frenzy, and major centralized exchanges quickly followed up and listed the currency. However, the price of the closely followed $SMELANIA coin fell rapidly after a brief boom, resulting in heavy losses for buyers on Sunday. This violent market volatility has driven a surge in global trading volume, with Binance’s weekend trading volume soaring from $15 billion to $50 billion. Matrixport believes that the surge in trading volume is related to multiple factors, including the dovish tone of last week’s Federal Reserve meeting and President Trump’s active support for cryptocurrencies. These factors have laid the foundation for the market's upward fluctuations, and it is expected that 2025 may continue or even exceed the booming development of the crypto industry in previous years.
According to WOOX Research market observation, BTC entered a correction state after touching $106,422. If the correction does not fall below $97,000, it is considered a normal range, and $89,256 may become the bottom of this round of adjustment. The current BTC market share is 58.49%.
Polynomial co-founder Gautham Santhosh warned that the continued demand for Ethereum Layer 2 is rapidly depleting the mainnet blob capacity, with 55% of the blob currently occupied by BASE and World Chain. Since November last year, the basic blob fee has exceeded $50 several times, causing user transaction costs to rise significantly. The Pectra upgrade that will be launched in March will increase the blob limit per block to 9, but Santhosh believes that this can only temporarily alleviate the problem, and more solutions are still needed for long-term expansion.
Dovey Wan, founder of cryptocurrency fund Primitive Crypto, said that although the market is in a bull market, only a few coins have hit new highs, reflecting the maturity of the industry and the depletion of upper-level funds. Sustainability will be challenged when markets become overly reliant on a few individuals or projects, she warned. Additionally, she emphasizes that understanding one’s strengths and focusing on areas that work for you are keys to long-term success.
Zack Guzmán, founder of crypto media Coinage, posted on the Trump may (again) face the risk of violating the Constitution and being impeached. According to the Constitution, no president may abuse the power of his office for personal gain. Specifically, the Emoluments Clause prohibits the president from receiving profits from foreign governments. income."
Former Coinbase chief technology officer Balaji Srinivasan posted on the X platform that Meme currency is a zero-sum game lottery. It doesn't create wealth. Every buy order is simply matched with a sell order. After an initial surge, the price will eventually plummet, and the last investor to buy will lose all their money. If the platform still takes a commission, it is actually a negative-sum game. If you want to gamble in moderation for fun, no problem. If you are a professional trader, no problem. But most people should buy assets that will hold their value over the long term. Sometimes use cases can be added for meme coins, or their value can be maintained indefinitely by keeping them popular. But in general, don't invest money you can't afford to lose. I agree, there are definitely some meme coins that have withstood the test and successfully built communities. I would further point out that many of the top 100 cryptocurrencies are actually “ghost chains” and de facto meme coins. But in a highly politicized environment, a rapid spike in prices could spell trouble. A lot depends on what happens after the first big price drop.
Trump takes credit for US stock market surge and Bitcoin's recent all-time high
In his final speech before taking office, U.S. President-elect Donald Trump took credit for the surge in the stock market and Bitcoin’s recent all-time high, The Block reported. Donald Trump said at the rally: “You have seen results that no one expected, with stocks soaring and small business optimism surging 41 points to a 39-year high since the election. Bitcoin has surged again and again Breaking all-time highs. This is the Trump effect. The U.S. stock market has continued to rise over the past year, reaching a high in early December shortly after the election. The S&P 500 reached a peak valuation of 6,090 points on December 11, while the Nasdaq reached a high of 20,204 points on December 16. As for Bitcoin, it also peaked in early December, hitting an all-time high of $107,000 on December 17. Over the next few weeks, it fell to $90,000 before rebounding to over $100,000. However, in the past few hours – following the launch of MELANIA – the price of Bitcoin has fallen below $10,000. His remarks came just hours after his wife Melania Trump launched her own meme coin, MELANIA, which has a fully diluted valuation of $5 billion (with only 10% of the supply currently in circulation, the market cap approximately US$500 million). However, this has come at a cost, attracting attention and funding to Donald Trump’s own meme coin, Official Trump, which has lost almost half its value. Official Trump launched on January 17 with a market capitalization of $14.5 billion - a fully diluted valuation of $72 billion - before falling sharply to its current market capitalization of $8.8 billion. Trump did not mention his Meme coin or Melania’s Meme coin in his speech, nor the resulting drop in Bitcoin prices.
important data
According to monitoring by @ai_9684xtpa, the market value of $BARRON token has exceeded US$300 million and surged 456% in one hour. Smart money HYWo7...Q1ENp cleared nearly 17 million tokens 20 minutes ago, investing 109,000 in seven hours and making a profit of US$1.78 million, with a return rate of 1629.9%.
According to Ember Monitoring, one address obtained a profit of up to 59.57 million US dollars in the $MELANIA transaction, with a profit multiple of 87 times. The address purchased 5.203 million $MELANIA for 2,500 SOL (approximately $680,000) in the second minute after $MELANIA went online. The average purchase price was only $0.13. Subsequently, as the price of $MELANIA rose sharply, the address successively sold 2.703 million coins, making a profit of US$30.4 million, with an average sales price of US$11.25. Currently, this address still holds 2.5 million $MELANIA, which is currently worth approximately US$29.85 million, and its total income (realized and unrealized) has reached US$59.57 million.
BTC broke through $109,000, with an intraday increase of 3.95%
Ouyi OKX market shows that BTC has just exceeded US$109,000 and is now trading at US$109,080.00 per coin, an intraday increase of 3.95%.
According to monitoring by The Data Ner, a smart money address (insider) spent US$800,000 to purchase 3.838 million MELANIA coins (average price: US$0.21). He has since earned $13.14 million by selling 1.92 million tokens. Currently, he still holds 1.92 million tokens (approximately $24.9 million), with a total estimated profit of approximately $37.24 million, a return on investment of 46.5 times.
According to Lookonchain monitoring, the giant whale that purchased 5.2 million MELANIA for US$680,000 earlier today sold 203,000 MELANIA and exchanged it for 2.14 million USDC, leaving 5 million MELANIA worth US$64.9 million. .
According to SolanaFloor data, Solana's DEX trading volume in January has exceeded US$158 billion, breaking the historical record of US$140 billion set by BNB Chain in May 2021 - the highest record among all blockchains. Solana is also the first blockchain to break $150 billion, achieving this goal in just 20 days, with 11 days remaining.
According to Onchain Lens monitoring, a giant whale purchased 5.2 million MELANIA 2 hours ago at a price of $680,940. The current profit is about $39 million and no tokens have been sold yet.
jinse
