Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | January 18 - 24, 2025

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Crypto Weekly Recap

Bitcoin:

• Weekly performance: +1.34%
• US Spot BTC ETFs: +$1.24B
• Big crypto news came right after President Trump’s inauguration.
• BTC hit an ATH of $109K on Monday but quickly dropped as Trump didn’t mention crypto during his inauguration.
• Three days post-inauguration, Trump shook markets by launching memecoins, getting WLFI deeper into new purchases, appointing pro-crypto politicians, pardoning Ross Ulbricht, and easing crypto regulations via executive orders.
• BTC showed higher volatility this week, with frequent price swings following news updates.
• After recovering to $106K, BTC dropped to $102K due to disappointment over Senator Cynthia Lummis’s announcement.
• Prices climbed again as Trump created a crypto working group, proposed a national crypto stockpile, and the SEC revoked accounting rule SAB 121.
• Critics, including Bitcoin advocates, urged Trump to create a Bitcoin-only reserve, rejecting a broader crypto stockpile.
• The Bank of Japan raised its short-term policy rate by 25 basis points to 0.5%, the highest in 17 years, but markets were unaffected.
• Institutional BTC adoption surged as MicroStrategy acquired 11,000 BTC, its largest 2025 purchase, achieving a 1.36% yield on 45,000 BTC, generating $642 million.
• Standard Chartered reported that institutional investments, especially from pension funds, could push BTC prices to $200K by year-end.
• Crypto leaders expressed optimism about BTC and crypto during speeches at Davos.

Ethereum:

• Weekly performance: +2.64%
• US Spot ETH ETFs: +$130.14M
• Ethereum’s price slowed, hovering between $3,100-$3,400, due to leadership disputes at the Ethereum Foundation and competition from Solana in the DApp market.
• The Ethereum Foundation faced criticism for its leadership, with accusations of selling ETH instead of promoting its utility.
• Despite community calls for change, the foundation’s response was seen as inadequate.
• The Ethereum Foundation considered staking its ETH to cover expenses instead of selling tokens.
• Vitalik claimed leadership of the EF, sparking debates over centralization and talk of a “second foundation.”
• The SEC ended SAB 121, slightly boosting ETH prices but failing to push it past $3,500.
• ETH holders grew frustrated as Solana outperformed, especially as the launch of TRUMP drained liquidity from altcoins, except SOL, which hit a new ATH.
• SOL stole the spotlight this week, breaking records for both its blockchain and ecosystem projects, fueled by the TRUMP memecoin launch.
• Trump-backed World Liberty Financial bought over $100M in crypto, making its portfolio tokens appear “promising.”
• Trump announced a $500B private-sector investment in AI infrastructure, reviving interest in AI tokens after a sell-off.
• More altcoin ETF filings, including DOGE, BONK, and TRUMP, were submitted this week.
• The U.S. government launched a DOGE (Department of Government Efficiency) website featuring the Dogecoin logo before removing it.
• Tornado Cash sanctions were lifted, and with Ross Ulbricht’s case, investors became more bullish on privacy tokens.

Altcoins:

• TikTok restored its services in the US.
• Students for Trump co-founder denied rug pull accusations after selling half of the 'TIKTOK' memecoin supply.
• Bitcoiners donated $270K to fund Ross Ulbricht’s personal expenses.
• Hashgraph Association partnered with Taurus to boost global HBAR custody.
• Gemini expanded in Europe with a Malta hub to comply with MiCA regulations.
• Coinbase app surged in Apple’s U.S. App Store rankings ahead of Trump’s inauguration.
• Gate Ventures contributed $20M to the BNB Chain Incubation Alliance.
• Linea filtered over 500K Sybil addresses from its upcoming token airdrop.
• Immunefi introduced a blockchain arbitration system for bug bounties.
• Phantom defended its wallet safety amid alleged vulnerabilities risking user funds.
• Avalanche focused on U.S. growth by integrating AI and blockchain innovations.
• Circle acquired Hashnote to integrate USYC with USDC.
• Uniswap V4 deployments are set to roll out soon.
• Crypto.com relaunched its exchange in U.S. markets.
• Robinhood Crypto expanded to Spain, adhering to EU regulations.
• Base Layer 2 set a record, nearing $3B in DEX volume.
• Keplr raised $5M in seed funding at a $50M valuation.
• Solana meme coin Fartcoin fell after its AI bot creator sold a large stash.
• Ledger co-founder David Balland was kidnapped in France but safely released after police intervention.
• BNB Foundation completed its 30th quarterly token burn on BNB Chain.
• Frax Finance proposed WLFI investments to enhance its ecosystem presence.
• John McAfee reemerged as an AI memecoin and chatbot with a $27M market cap.
• Upbit and Bithumb paid $2.4M for crypto outages during South Korean martial law.
• OKX received pre-authorization for MiCA compliance via its Malta hub.
• ARK Invest’s Cathie Wood rejected Trump Coin, citing a lack of utility.
• Justin Sun announced zero-fee stablecoin transactions on TRON.
• Davos 2025 emphasized the tokenization of real-world assets as the future of finance.
• USDC’s supply surpassed a $50B market cap for the first time since 2022.
• Ivanka Trump denounced the fake IVANKA Coin.
• Nansen opened its research website to all users as an experiment.
• Singapore Court approved the next step in WazirX’s repayment process after a $230M hack.

Trump Signals Shift in Crypto Policy

President Trump's inauguration coincided with discussions about shifts in U.S. crypto policy, as his administration signaled interest in revisiting Bitcoin reserves and regulatory frameworks. On January 20, 2025, Donald Trump was inaugurated as the 47th U.S. president during a rare indoor ceremony at the Capitol Rotunda due to extreme cold. Alongside Vice President JD Vance, Trump’s address emphasized unity, prosperity, and a commitment to tackling crises with dignity. Dubbed “Liberation Day,” the event marked Trump’s historic return to the presidency. The traditional parade was canceled, with activities moved indoors, reflecting the unique circumstances and historic nature of the day.

Trump’s Meme Coin Makes Wave After Launching on Solana

On January 18, 2025, Donald Trump launched the Solana-based meme coin "Official Trump (TRUMP)," which quickly reached a fully diluted valuation of $20.4 billion. The tokenomics allocate 80% to Trump-affiliated entities, raising concerns about manipulation. A trader's $1 million investment ballooned to $90 million in hours. The coin's debut also boosted Solana's TVL to $12 billion, with daily trading volumes hitting $27 billion. However, skepticism arose as centralization issues emerged, with 90% of MELANIA tokens held in one wallet. Trump's plans include prioritizing cryptocurrency policy, supported by major crypto companies contributing to his inauguration fund.

Ethereum Leadership Faces Criticism Amid Decline

The Ethereum Foundation faces leadership challenges amid criticism of Executive Director Aya Miyaguchi's efficiency. Vitalik Buterin insists leadership decisions are his, condemning harassments against Miyaguchi. Community discontent includes delayed upgrades and troubling communication, with the foundation's ETH treasury dropping to 269,000 from 617,000 since 2020. Recent on-chain activity fell 38% to $36.5 billion, underperforming rivals like Solana, which surged 36%. Competitor Justin Sun proposed halting ETH sell-offs for three years and generating revenue through DeFi activities, while Ethereum co-creator Joseph Lubin advocates for new leadership to revitalize the foundation amidst growing internal and external pressures.

WLFI Buys $100M in Crypto to Celebrate Trump Inauguration

World Liberty Financial (WLFI), a DeFi platform launched in October 2024, has reported over $1.08 billion in token sales, accounting for 85% of its 25 billion token supply. Recently, it invested over $100 million in cryptocurrencies, acquiring $47 million each in Wrapped Bitcoin and Ethereum, with total ETH holdings at 42,427, valued at around $143 million. WLFI's governance tokens, priced at $0.05, have seen a 230% price increase. Featured prominently were its ties to Donald Trump and TRON founder Justin Sun, amassing significant stakeholder investments. WLFI continues to face scrutiny over its political affiliations and governance transparency.

Institutional Adoption Soars in January 2025

In January 2025, the landscape of cryptocurrency adoption evolved significantly, highlighting institutional investments and regulatory developments. MicroStrategy increased its Bitcoin holdings to 461,000 BTC after purchasing 11,000 BTC for $1.1 billion. KULR also expanded its Treasury to $50 million, acquiring 510 BTC. El Salvador added 11 BTC to its reserves amid IMF pressure to reduce adoption. Meanwhile, Rumble entered the crypto market with a $20 million Bitcoin investment. The SEC saw a rush of ETF filings following Gary Gensler's departure, including proposals from ProShares and VanEck. Finland launched its first crypto ETPs on Nasdaq Helsinki, enhancing regulatory access to digital assets in the region, reflecting growing institutional adoption.

Binance Labs Rebrands to YZi Labs

Binance Labs has rebranded as YZi Labs, shifting its investment strategy to focus on artificial intelligence (AI) and biotechnology, moving away from its original cryptocurrency emphasis. This change includes the continued involvement of co-founder Changpeng “CZ” Zhao and the return of Ella Zhang as Head, who previously led significant incubation programs. YZi Labs aims to explore the convergence of Web3, AI, and biotech, prioritizing projects with long-term potential over market trends. The rebranding reflects a desire for independence as it seeks to foster innovation in emerging sectors that may drive future technological advancements.

Telegram Partners Exclusively with TON Blockchain

Telegram announced TON as its exclusive blockchain partner for Mini Apps, barring other networks. Critics argue this strategy risks limiting blockchain development due to TON’s low liquidity and evolving tech. Telegram has launched its first NFT art collection on TON, available via Getgems, promoting accessibility and blockchain scalability. TON is integrated across Telegram’s ecosystem, supporting features like crypto games, NFTs, and monetization tools, serving its 950 million users. The TON Foundation offers migration grants, but developers express concerns about forced adoption and centralization. While TON claims openness, critics liken this move to Big Tech’s restrictive ecosystems.

THORChain Pauses Lending Amid Insolvency Concerns

THORChain has temporarily suspended its lending and savers programs due to insolvency concerns, pausing Bitcoin and Ether withdrawals for 90 days while addressing $200 million in liabilities. The platform faces $97 million tied to lending and $102 million in savings, raising fears of a liquidity crisis similar to the Terra/Luna incident. RUNE's inflationary tokenomics have resulted in a 32% price drop, prompting a need for economic reforms. Despite challenges, core functionality remains operational, with developers suggesting measures to stabilize the protocol. The next 90 days will be crucial for THORChain's future in DeFi resilience.

Phemex Loses $70 Million in Security Breach

On January 23, 2025, Phemex, a Singapore-based cryptocurrency exchange, experienced a major security breach, resulting in the theft of $70 million in crypto assets, including $16 million in SOL, $12 million in XRP, and $5 million in Bitcoin. The attackers exploited vulnerabilities in Phemex's hot wallet, facilitating suspicious transactions across multiple blockchain networks. In response, Phemex halted withdrawals for emergency security checks while assuring users that cold wallets, holding the majority of funds, remained secure. A compensation plan for affected users is forthcoming, highlighting ongoing challenges in balancing operational efficiency and security in the cryptocurrency industry.

ZachXBT Sparks Controversy With $4M Cashout

On January 21, 2025, blockchain investigator ZachXBT cashed out nearly $4 million in ZACHXBT memecoins, triggering a controversy as the token's market cap plummeted from $97 million to $19 million after his liquidity withdrawal. Holding 500 million tokens, he initially contributed half to liquidity but later withdrew 91 million tokens. While criticized for potentially executing a “rug pull,” supporters likened him to Vitalik Buterin's charitable actions. Despite raising $50,000 for community support, the incident underscored the volatility of memecoins and sparked discussions about recognizing the contributions of independent crypto researchers like ZachXBT.

Top Weekly Altcoin Gainers and Losers

Gainers:

Raydium RAY (+39.44%)

KuCoin KCS (+23.31%)

Gate Token GT (+21.39%)

Solana SOL (+21.26%)

Ondo ONDO (+17.57%)

Losers:

Sonic S (-28.35%)

Pudgy Penguins PENGU (-23.12%)

dogwifhat WIF (-22.68%)

Floki Inu FLOKI (-22.66%)

Pepe PEPE (-22.35%)