Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | February 8 - 15, 2025

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Crypto Weekly Recap

Bitcoin:

• Weekly performance: +1.02%
• US Spot BTC ETFs: -$651.83M
• BTC remained stable this week, failing to break $100K, while gold hit a new ATH of $2,942.
• BTC.D corrected, dropping from 62% last Saturday to 60.55% now.
• Crypto investment funds had $1.3B in net inflows last week, nearly doubling the prior $747.4M.
• However, by the end of this week, US Spot Bitcoin ETFs have seen a netflow of -$651.83M, the first week of negative inflow since Jan. 3.
• Crypto prices fell Monday after Trump announced new 25% tariffs on steel and aluminum.
• BTC briefly recovered to ~$98.4K but quickly dropped to $94.5K due to bearish CPI data.
• BTC rebounded to $98K before PPI data pushed it to $95.5K, then recovered to $97.6K.

Ethereum:

• Weekly performance: +3.59%
• US Spot ETH ETFs: -$26.26M
• ETH was more volatile than BTC this week but still failed to break $2.9K, now staying at $2.7K after dropping to $2.55K
• Ethereum led institutional inflows with $793M last week, surpassing Bitcoin for the first time this year.
• Ethereum short positions jumped 500% as hedge funds bet on its decline.
• Over 224,000 ETH left CEXs between Feb 8-9, marking the largest net outflow in nearly two years.
• Solana-based apps outperformed Ethereum apps in revenue by up to 10x, per Aylo's research.
• Low revenue and selling pressure fueled concerns in the ETH community, with Base denying allegations of selling ETH for sequencer fees.
• The Ethereum Foundation allocated 45,000 ETH to DeFi and announced plans to explore staking.
• Vitalik Buterin pushed for raising Ethereum’s gas limit to improve censorship resistance, cut Layer 2 costs, and enhance emergency safety.
• The Ethereum Pectra upgrade, set for April 8, aims to lower gas fees and ease congestion by increasing data blobs per block.
• Ethereum wasn’t the main focus this week—altcoin ETF updates, BNB memecoin hype, and Solana’s rising fee revenues took center stage.
• Altcoin ETFs progressed: latest news was the SEC accepted Grayscale’s applications for XRP and DOGE ETFs, boosting market sentiment.

Altcoins:

• Pump.fun founder denied token launch rumors amid legal scrutiny.
• CZ admitted Binance’s token listing process is flawed but denied Test TST ties.
• Coinbase’s Base faced backlash over ETH fee handling.
• zkLend hacker's $9.5M exploit was foiled due to a privacy protocol loophole.
• Proton launched a self-custodial Bitcoin wallet for all users.
• A man who lost 8,000 BTC plans to buy a landfill to recover it.
• Berachain's co-founder was accused of dumping tokens and receiving a large airdrop.
• World Liberty and Ondo Finance teamed up to expand tokenized RWA adoption.
• WazirX plans to issue RT tokens to distribute recovered assets and considers listing them.
• Elon Musk led a $97B bid to buy OpenAI’s non-profit arm after Sam Altman’s rejection.
• BNB Chain's Four.Meme lost $183K in a security breach.
• Gemini secured preliminary approval for an EU investment company license.
• BitGo plans a 2025 IPO, per reports.
• Elon Musk's latest X name change fueled memecoin pumps.
• Galaxy & Ripple CEOs lent $160M to MoonPay for the TRUMP token launch.
• IO Intelligence launched, integrating 25 open-source AI models.
• Liquity Stability Pool urged users to close positions over a potential issue.
• Jupiter announced a JUP buyback policy starting Monday.
• Coinbase posted $2.3B in revenue and eyes an India comeback.
• Lens Chain plans to use Aave’s GHO stablecoin as its native gas token.
• Mastercard tokenized 30% of transactions in 2024 and acknowledged crypto’s disruption.
• Framework Ventures led a $20M Series A for Plasma, a stablecoin firm.
• Solana's Pump.fun launched iOS & Android apps.
• FTX creditors missing the first payout may qualify for Q2 2025 distributions.
• Near Protocol’s ex-manager livestreamed nudes, later apologizing.
• Pig butchering scams hit an all-time high, per Chainalysis.
• HashKey raised $30M from Gaorong Ventures.
• World Liberty Financial invested $1.4M in MOVE, bought $5M WBTC, and allocated $5.9M ETH to Lido Finance.
• Telegram Wallet enabled zero-fee USDT purchases in 60 countries.
• Coinbase sealed an Aston Martin F1 sponsorship, paid in USDC.
• Tether bought a minority stake in Juventus, eyeing digital asset integrations.

U.S. States Push Bitcoin Reserves Amid Regulatory Shifts

This week, U.S. crypto regulations saw significant developments, including multiple states advancing Bitcoin reserve bills. Maryland and Kentucky proposed Bitcoin investments through state funds, while Florida introduced a bill allowing up to 10% of state funds in Bitcoin. North Carolina became the 20th state to approve crypto reserves. The CFTC launched initiatives to review prediction markets and pilot digital asset programs, and the STABLE Act of 2025 imposed a two-year ban on certain stablecoins. The SEC and Binance agreed to a 60-day legal pause, Trump planned pro-crypto regulator nominations, and Elon Musk called for a judge’s impeachment.

Crypto ETF Market Expands as SEC Weighs New Approvals

Regulatory activity and market interest in crypto ETFs are increasing. This week, the SEC is delaying Ethereum ETF options approval, with a decision expected by April 2025, following Ethereum ETFs’ $9 billion asset accumulation. The SEC opened a 21-day comment period for Grayscale’s Solana ETF proposal, signaling regulatory openness. Nasdaq seeks approval for CoinShares’ XRP and Litecoin ETFs, with Litecoin’s approval odds at 90%. Franklin Templeton advances a Bitcoin-Ether index ETF, while Grayscale pushes for a Cardano ETF. Cboe BZX proposes staking for a 21Shares Ethereum ETF, and Franklin Templeton integrates its $FOBXX fund into Solana, exploring ETF potential. Osprey challenges Grayscale’s GBTC ETF conversion in court.

Institutional Bitcoin Investments Surge With Billion-Dollar Buys

This week, major institutions are significantly increasing their Bitcoin investments. Strategy (formerly MicroStrategy) acquired 7,633 BTC for $742 million, bringing its total to 478,740 BTC ($46 billion). Tesla holds 11,509 BTC ($1.07 billion), reporting a $589 million unrealized gain. The University of Austin is investing $5 million in Bitcoin, following Emory University’s $15 million ETF purchase. Metaplanet raised $25.9 million in zero-interest bonds to expand its Bitcoin holdings to 21,000 BTC by 2026. GameStop's stock rose 5.5% after CEO Ryan Cohen met with MicroStrategy’s Michael Saylor, suggesting a potential Bitcoin investment.

Wall Street Banks Embrace Crypto as Adoption Accelerates

Institutional adoption of crypto accelerated as Wall Street banks like Morgan Stanley and Bank of America embraced digital assets, driven by Trump’s pro-crypto policies, easing IPO barriers for Gemini and Kraken. Brazil’s B3 Stock Exchange announced ether and solana futures after bitcoin futures hit $860M monthly volume. Sol Strategies expanded its SOL holdings to 214K, valued at $41.2M, and was selected for 3iQ’s Solana Staking ETF. Klarna explored crypto integration before its U.S. IPO. Galoy launched Lana for bitcoin-backed loans, Avalon Labs planned a bitcoin-backed public debt fund, and Taurus introduced a Solana-based custody platform.

Tether Faces JPMorgan Scrutiny Over U.S. Stablecoin Rules

Tether faces scrutiny from JPMorgan over compliance with potential U.S. stablecoin regulations, which could require the firm to liquidate its substantial Bitcoin reserves, currently over $20 billion. JPMorgan estimates only 66% of Tether's reserves meet the STABLE Act, while Tether dismisses these claims as biased. Despite past regulatory challenges, including a fine in 2021, Tether remains the dominant stablecoin, commanding nearly 60% of the market with a $142 billion market cap. The company recorded $13 billion in profits in 2024 and is expanding its influence through integrations with Ethereum's Layer 2 protocol and Bitcoin's Lightning Network.

Global Crypto Regulations Shift as Countries Reassess Policies

Significant crypto regulatory changes emerged globally. Japan plans to approve Bitcoin spot ETFs and reduce crypto tax from 55% to 20%, enhancing investor confidence. Poland’s National Bank rejected Bitcoin for reserves, citing security concerns, but upcoming elections may influence policy shifts towards a Bitcoin reserve proposal. Ukraine aims to legalize cryptocurrency by summer 2025, with taxation aligned to other investments. South Korea will permit charities and universities to sell digital assets by Q2 2025 and allow 3,500 firms to open real-name crypto accounts, aligning regulations with global standards and improving institutional participation.

CZ’s Dog Tweet Sparks Billion-Dollar Memecoin Frenzy

Changpeng Zhao's (CZ) tweet about his dog, Broccoli, triggered a chaotic memecoin frenzy, resulting in the rapid emergence of Broccoli-themed tokens primarily on BNB Chain and Solana. Within minutes, these tokens collectively reached billion-dollar valuations before plummeting. A notable case involved a creator who generated $6.5 million in profits within 20 minutes by offloading a new token. The event saw nearly 30,000 wallets engage in almost 100,000 transactions within 24 hours. The incident raised alarms over memecoin speculation and market manipulation, underscoring the risks and volatility of unregulated crypto trading amidst rampant opportunism.

Central African Republic’s Meme Coin Crashes 93% After Hype

The Central African Republic launched its national meme coin, CAR, on February 9, 2025, following a presidential endorsement, causing a market frenzy that ballooned its market cap to $897.41 million—30% of the country’s GDP. However, skepticism arose over the legitimacy of the announcement and reported irregularities, including a potential deepfake video and suspicious smart contract manipulations. After peaking, CAR's value plummeted 93.3% to $60 million, leading many to label it a rug pull. This initiative follows CAR’s history of troubled crypto projects, highlighting the risks of speculation in the volatile digital asset landscape.

Top Weekly Altcoin Gainers and Losers

Gainers:

Sonic S (+45.23%)

MANTRA DAO OM (+33.52%)

Official Trump TRUMP (+27.26%)

Kaspa KAS (+25.44%)

Litecoin LTC (+24.68%)

Losers:

Bitget Token BGB (-16.89%)

DeXe DEXE (-12.76%)

Ondo ONDO (-3.68%)

Cronos CRO (-2.23%)