NewsBriefs - Nvidia's Q1 results soar as AI crypto tokens gain

May 22, 8:59 PM Crypto Briefing

Nvidia's Q1 results soar as AI crypto tokens gain

Nvidia has reported a first-quarter revenue of $26 billion, surpassing market expectations with a 5.5% increase. Following this announcement, AI crypto tokens, including Fetch.ai, Render, Bittensor, SingularityNET, and AIOZ Network, have seen significant price gains. Despite a general downturn in the crypto market, these AI-related tokens surged in response to Nvidia’s strong financial performance and strategic corporate decisions, notably the introduction of a stock split and projections of further revenue growth.

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• Jan 17, 9:26 PM The Block

  Pro-crypto Vivek Ramaswamy to announce bid for Ohio governor

  Vivek Ramaswamy, a biotech entrepreneur and crypto advocate, plans to run for governor of Ohio. He has previously campaigned against regulatory overreach in the crypto sector. His bid announcement is expected soon, coinciding with his role in leading the Department of Government Efficiency aimed at reducing federal regulations. The gubernatorial race is scheduled for 2026, aligning with the department's project completion.

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• Jan 17, 7:18 PM Hand-Picked

  IRS Commissioner Danny Werfel to resign upon Trump's inauguration

  IRS Commissioner Danny Werfel announced he will resign following President-elect Trump's inauguration, despite his term originally set to expire in 2027. Werfel's decision, influenced by discussions with various stakeholders including IRS employees and Congress, aims to facilitate a smooth transition for Trump's nominee, former Rep. Billy Long. This comes amid ongoing transformations within the IRS supported by the 2022 Inflation Reduction Act, which Werfel has been leading to enhance the agency's efficiency and enforcement capabilities.

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• Jan 17, 5:53 PM The Block

  MARA Holdings hashes portrait of Trump on Bitcoin blockchain to commemorate inauguration

  MARA Holdings, a Nasdaq-traded Bitcoin mining company, has embedded a portrait of Donald Trump, the incoming 47th president of the US, onto the Bitcoin blockchain at block 879613. This move coincides with Trump's upcoming presidency, during which he plans to prioritize crypto regulation and support for the mining industry in the US. MARA also gained significant profit by mining this block, demonstrating the continued growth of cryptocurrency activities in the context of political developments.

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• Jan 17, 3:26 PM Hand-Picked

  Supreme Court upholds law threatening TikTok ban over national security concerns

  The Supreme Court upheld a law requiring ByteDance to divest TikTok by Jan 19 or face a US ban, citing national security risks from Chinese control over the app. The decision leaves an uncertain future for TikTok and its 170 million US users, with potential changes pending from the incoming Trump administration. The ruling emphasizes national security over free speech rights associated with TikTok's operational dynamics.

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• Jan 16, 11:00 PM Bloomberg

  Chinese state-sponsored actors hack US Treasury Secretary Janet Yellen's computer, access unclassified files

  US Treasury Secretary Janet Yellen's computer was hacked by Chinese state-sponsored hackers, with fewer than 50 unclassified files accessed. The breach, part of a larger espionage campaign, also affected two deputy secretaries and targeted the Treasury's unclassified systems, focusing on its role in sanctions, intelligence, and international affairs. Over 400 devices and more than 3,000 files across unclassified personal devices were compromised in the attack.

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• Jan 16, 10:44 PM The Block

  Phantom wallet secures $150 million in Series C funding led by Sequoia Capital and Paradigm

  Phantom Wallet has successfully raised $150 million in a Series C funding round at a valuation of $3 billion, led by Sequoia Capital and Paradigm. The funding round also included significant contributions from a16z and Variant. Phantom's CEO highlighted the wallet's growing popularity as a sign of shifting user preference towards self-custody crypto platforms over centralized exchanges like Coinbase. The company also reported having 15 million monthly active users and $25 billion in self-custody assets. Phantom aims to use these funds to expand its influence and foster greater crypto adoption globally.

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• Jan 16, 10:44 PM The Block

  Phantom Wallet secures $150 million in Series C funding, reaches $3 billion valuation

  Phantom Wallet successfully raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, reaching a valuation of $3 billion. The round also included notable investors a16z and Variant. Phantom attributes its success to a growing preference for crypto transactions through digital wallets over traditional exchanges like Coinbase. The company reported 15 million monthly active users and $25 billion in self-custody assets. Phantom Wallet aims to expand crypto adoption and become the leading consumer finance platform, bolstered by its dominance as a Solana-based wallet.

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• Jan 16, 4:35 PM Cointelegraph

  Senator Lummis questions US Marshals over potential sale of seized Bitcoin

  Wyoming Senator Cynthia Lummis has inquired the US Marshals Service about the US government's intent to sell 69,370 Bitcoin seized from the Silk Road, arguing that it contradicts the plans for a national Bitcoin stockpile. The letter, prompted by Judge Richard Seeborg's denial of a petition to block the asset forfeiture, raises concerns about the timing during a presidential transition and its misalignment with strategic reserve policies.

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• Jan 16, 2:00 PM CoinDesk

  BoJ rate hike on Jan. 24 poses risk to crypto and traditional markets

  Investors are anticipating potential disruptions in both crypto and traditional markets due to a likely interest rate hike by the Bank of Japan (BoJ) on January 24. Historical precedents suggest that a BoJ rate hike could lead to significant market sell-offs, similar to the effects seen in August when bitcoin fell to $49,000. The market currently anticipates a 90% probability of this increase, amidst concerns of high inflation in Japan, which could further influence market dynamics.

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• Jan 16, 12:37 PM Bloomberg

  Swiss State-Owned Bank PostFinance introduces Ethereum staking

  Swiss state-owned bank PostFinance AG has introduced Ethereum staking to its digital-asset offerings, allowing holders to earn passive income. The bank announced plans to add staking for other tokens soon and highlighted its status as the first systemically important bank to offer staking services. This development reflects growing enthusiasm for crypto in Switzerland, influenced by surging asset prices and political changes in the US.

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• Jan 16, 5:58 AM The Block

  Pyth Network introduces Lazer, a new oracle for latency-sensitive crypto applications

  Pyth Network has launched Lazer, a new oracle service offering ultra-low-latency price feeds specifically designed for latency-sensitive crypto trading apps and exchanges. Lazer operates with customizable frequency channels that can refresh as quickly as one millisecond, potentially enhancing DeFi protocols' performance against centralized exchanges. The service supports up to 20 simultaneous price feeds on Solana and is compatible with multiple blockchain environments including EVM and SVM. Lazer differentiates itself by sourcing data directly from first-party publishers rather than third-party providers.

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• Jan 16, 2:59 AM The Block

  Bloomberg analyst predicts Litecoin ETF likely next for US approval

  A Litecoin exchange-traded fund (ETF) by Canary Capital is likely the next spot crypto ETF to gain approval in the US following an amended S-1 form submission to the Securities and Exchange Commission. Bloomberg's Senior ETF Analyst, Eric Balchunas, highlighted that the SEC's engagement with the filing and changes in SEC leadership could influence this outcome. The exact impact of the newly appointed, crypto-friendly SEC chair Paul Atkins remains uncertain as his confirmation timing is unclear.

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• Jan 15, 10:02 PM Cointelegraph

  Oklahoma introduces bill to use Bitcoin as a strategic reserve asset

  A new bill has been introduced in the Oklahoma House of Representatives by state Representative Cody Maynard that would allow state pension funds and savings accounts to invest in Bitcoin as a hedge against inflation. Dubbed the Strategic Bitcoin Reserve Act, the bill highlights Bitcoin's role as a decentralized, non-governmental store of value, positioned to protect financial assets in an increasingly adopted institutional landscape. This move aligns with similar legislative initiatives in several US states aiming to leverage Bitcoin to safeguard state finances.

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• Jan 15, 8:00 PM The Block

  BitMEX faces additional $100 million fine for Bank Secrecy Act violations

  Bitcoin derivatives exchange BitMEX has been fined an additional $100 million for violations of the Bank Secrecy Act. US District Judge John G. Koeltl deemed the previously agreed $110 million fine and corporate guilty pleas by BitMEX as insufficient, following the firm's failure to implement an adequate anti-money laundering program and illicitly allowing U.S. users on its platform. BitMEX's parent company, HDR Global Trading Inc., will also undergo a two-year probationary period.

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• Jan 15, 3:32 PM Cointelegraph

  Bitget CEO predicts AI token market could reach $60 billion by 2025

  Bitget CEO Gracy Chen forecasts that tokens associated with AI agents could achieve a market capitalization of up to $60 billion by 2025. Initially, these tokens will be employed in crypto transactions and to enhance exchange operations. Despite the rapid growth, with a market cap reaching $15 billion recently, Chen advises cautious investment in tokens offering practical solutions. AI tokens are poised to significantly influence Web3, transforming cryptocurrency trading and operations within decentralized communities.

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