More market volatility is expected later today due to the release of US Nonfarm Payrolls and Unemployment Rate.
The Senate Banking Committee, under the leadership of Senator Tim Scott, is set to establish its first subcommittee dedicated to digital assets. Senator Cynthia Lummis, a strong supporter of Bitcoin, has been picked to lead the subcommittee, though her role is pending a full committee vote next week.
The bankrupt cryptocurrency exchange FTX clarified on Jan 9 2025 that the claim of Backpack's acquisition of FTX EU had not yet received court approval, nor had Backpack been authorized to distribute funds to FTX customers.
Coinbase Wallet has added a new feature through which mobile app users can deposit cash directly from their banks in exchange for USDC without incurring any fees.
According to Binance Market Data, Ethereum has crossed the 3,300 USDT earlier this morning, with a narrowed 0.30% increase in 24 hours.
Fidelity has recently transferred 64,997 ETH to Coinbase, raising fears of a potential sell-off in the market. Within the past 24 hours, Fidelity deposited 31,249 ETH, valued at $103.55 million, including an 11,250 ETH deposit worth $36.9 million earlier today. The sale could potentially exert downward pressure on Ethereum’s price.
Standard Chartered Bank has formed a new entity in Luxembourg to offer crypto and digital asset custody services in the European Union.
CleanSpark, the Bitcoin mining company, reaches 10,097 BTC in treasury, marking a 236% year-over-year growth in its Bitcoin reserves, with all Bitcoins mined from its domestic operations in the US. In December alone, CleanSpark mined 668 BTC, up 7% compared to November, bringing its total production for 2024 to 7,024 BTC, for an average of 21.56 BTC mined per day.
South Korea is preparing to lift its ban on institutional cryptocurrency trading, beginning with non-profits. Until now, only individual traders with verified accounts have been allowed to trade cryptocurrencies, as banks have been restricted from enabling institutional accounts.
U.K. Authorities updated a section of the Financial Services and Markets Act 2000, which regulates financial markets in the U.K., to clarify that crypto staking is not a “collective investment scheme.” This clarification aligns with broader efforts to regulate crypto assets and staking services in a way that fosters innovation while reducing legal uncertainty.
The International Monetary Fund (IMF) has suggested that Kenya strengthen its regulatory framework for the cryptocurrency sector, in light of the increasing prominence of cryptocurrencies in the country and the current lack of regulation.
