NewsBriefs - GSR secures UK FCA approval to enhance global crypto trading

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• Jan 7, 8:39 PM The Block

  Sol Strategies secures $25 million credit line for SOL token investments and staking

  Sol Strategies, now focusing solely on the Solana ecosystem, has secured a $25 million unsecured credit facility to invest in SOL tokens and enhance its staking operations. This strategic funding, bearing a 5% annual interest, marks a significant shift in the firm's investment direction, previously known as Cypherpunk Holdings. With this move, Sol Strategies aims to become a major player within the Solana ecosystem, leveraging large-scale purchases and its substantial staking of over 1.5 million SOL tokens (worth approximately CAD$450 million).

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• Jan 7, 4:00 PM CoinDesk

  Bitcoin’s correlation with stocks resurfaces

  Bitcoin’s correlation with the S&P 500 has climbed back to 0.88, indicating a renewed alignment between the two markets. This marks a shift from Bitcoin’s recent outperformance, where it rose 47% since Donald Trump’s election, compared to the S&P 500's modest 4% gain. Analysts attribute the reemerging correlation to macroeconomic factors, including the Federal Reserve’s revised rate cut projections and a stronger US dollar, which continue to weigh on both crypto and traditional markets. Despite strong on-chain support for Bitcoin, its movement is increasingly influenced by broader market trends, suggesting potential short-term risks ahead.

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• Jan 6, 5:24 PM Bloomberg

  Gemini settles with CFTC for $5 million over misleading claims

  Gemini Trust Co., founded by the Winklevoss twins, has agreed to pay $5 million to settle a Commodity Futures Trading Commission (CFTC) lawsuit. The CFTC alleged that Gemini made misleading statements during its bid to launch the first US-regulated Bitcoin futures contract. The settlement, which avoids trial, was reached without Gemini admitting or denying the claims. This settlement is part of broader regulatory enforcement efforts over the cryptocurrency sector.

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• Jan 6, 5:21 PM The Block

  Fed vice chair Michael Barr to step down, cites need for stablecoin regulation

  Michael Barr, Vice Chair for Supervision at the US Federal Reserve, announced he will step down from his position in late February, staying on as a member of the Board of Governors. Barr, known for advocating stablecoin regulation, cited potential distractions over his role and the efficiency of fulfilling his duties as reasons for his resignation.

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• Jan 6, 12:22 PM Hand-Picked

  GSR secures UK FCA approval to enhance global crypto trading

  GSR, a global crypto trading firm, has received approval from the UK's Financial Conduct Authority (FCA) for GSR Markets UK Limited, making it the first crypto liquidity provider to be authorized by both the FCA and the Monetary Authority of Singapore (MAS). This approval allows GSR to offer over-the-counter and programmatic execution trading services in the UK, highlighting its commitment to high regulatory standards and the expansion of its services to global institutional and professional clients.

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• Jan 6, 11:43 AM The Block

  Bitcoin options signal bullish sentiment, traders bet on price rise ahead of Trump inauguration

  The Bitcoin market is experiencing a bullish surge, with significant activity at the Deribit exchange focusing on options with strike prices at $110,000 and $120,000. Bitcoin's price rebound to about $99,000 after a recent dip adds to the optimism reflected by a low put-call ratio of 0.24, indicating a strong preference for call options. Upcoming US President Donald Trump's inauguration is expected to further boost market optimism. Additionally, institutional inflows into bitcoin ETFs reinforce this positive market sentiment.

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• Jan 6, 9:45 AM CoinDesk

  Ripple Labs reports surge in US deals and hiring ahead of Trump administration

  Ripple Labs has experienced an increase in US business and hiring, attributing this growth to the anticipated crypto-friendly policies of the incoming Trump administration. CEO Brad Garlinghouse highlighted significant deals made post-election and a strategic shift to hiring primarily within the US. The company's optimism is reflected in its contribution of $5 million in XRP tokens to Trump's inauguration and a remarkable 300% rise in XRP prices since Trump's electoral victory.

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• Jan 6, 9:05 AM Cointelegraph

  US government estimates over one million victims in Do Kwon's Terraform Labs case

  The US prosecutors overseeing the criminal case against Do Kwon, co-founder of Terraform Labs, estimate that there could be over one million victims worldwide following the ecosystem's collapse. A website will be established to notify these victims and inform them of their rights, as traditional notification methods were deemed impracticable. Kwon, who pleaded not guilty to fraud-related charges, remains a significant figure in an extensive legal examination surrounding the dramatic fall of the Terra ecosystem.

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• Jan 5, 8:15 PM Beincrypto

  Metaplanet targets 10,000 BTC holdings by 2025 to become a top corporate holder

  Metaplanet aims to expand its Bitcoin holdings to 10,000 BTC by the end of 2025, leveraging capital market tools like share offerings and loans. This strategy has significantly increased Metaplanet's Bitcoin reserves, positioning it as a leader in Asia's Bitcoin-focused corporate sector. The firm currently holds 1,762 BTC and plans to acquire over 8,000 BTC this year. Metaplanet's expansion plans also include enhancing shareholder engagement and fostering global Bitcoin adoption.

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• Jan 5, 1:01 AM Cointelegraph

  John Deaton offers to lead probe into Operation Chokepoint 2.0 for Trump administration

  John Deaton, a former US prosecutor and crypto advocate, has volunteered to spearhead an investigation into Operation Chokepoint 2.0 for the incoming Trump administration. This initiative allegedly sought to block crypto businesses from access to traditional banking services. Deaton emphasized the threat this poses to industry innovation, fair competition, and economic freedom, cautioning against the unchecked influence of regulatory bodies. His offer coincides with new legal developments allowing Coinbase to review the Federal Deposit Insurance Corporation's involvement in these restrictive measures.

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• Jan 3, 7:27 PM Cryptoslate

  MARA CEO predicts Bitcoin to reach $200k by 2025, emphasizes long-term growth

  MARA Holdings CEO Fred Thiel highlighted the potential of Bitcoin as a long-term growth asset, driven by increasing institutional involvement. In a recent interview, he encouraged retail investors to adopt a consistent investment approach, noting Bitcoin's historical average annual appreciation of 29% to 50%. Thiel also pointed out Bitcoin's accessibility through traditional financial platforms and the possible impact of favorable regulatory changes under a more crypto-friendly US administration. He additionally mentioned MARA's expansion in Bitcoin holdings and mining capacity.

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• Jan 3, 6:03 PM The Block

  Ethena targets neobank status with expansion into Telegram payments and institutional token iUSDe

  Ethena, a synthetic stablecoin protocol, is expanding to become a neobank by integrating its USDe stablecoin with innovative financial products and a native payment solution on Telegram. In 2025, Ethena plans to launch a new dollar savings product and iUSDe, a token for institutional use, aiming to blend crypto with traditional finance. The protocol's significant growth includes capturing a large share of onchain USD asset growth and integrating USDe with key crypto and CeFi markets. Ethena's developments are poised to transform its interaction with regulated capital markets and disrupt traditional financial mechanisms.

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• Jan 3, 9:26 AM Cointelegraph

  Virtuals Protocol fixes critical bug after white hat hacker's discovery

  Virtuals Protocol rapidley addressed a bug in their smart contract discovered by the white hat hacker, Jinu, and subsequently relaunched their bug bounty program. The bug, if exploited, could have stopped the generation of AgentTokens, significantly impacting the crypto's ecosystem. Despite the fix, the protocol has yet to offer a bug bounty reward to Jinu but has acknowledged the need for internal review to assess the issue's severity.

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• Jan 3, 3:13 AM Defiant

  Telegram introduces feature to convert digital gifts into NFTs

  Telegram is introducing a feature that allows users to transform digital gifts into unique non-fungible tokens (NFTs), stored on a blockchain and tradeable on NFT marketplaces. This integration into the messaging platform underscores a growing trend of incorporating blockchain technology into mainstream applications, enhancing options for users to exchange and monetize digital items. The feature includes customizable traits for each NFT, further emphasizing their uniqueness and potential rarity.

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• Jan 2, 1:00 PM FF News

  Binance receives regulatory approval in Brazil, marking its 21st global authorization

  Binance has secured regulatory approval in Brazil, adding to its list of global compliances and expanding its services in the country. This milestone is part of Binance's broader strategy to grow its presence and adhere to regulatory standards worldwide, with recent advancements also in Argentina, India, Kazakhstan, and Indonesia. The exchange emphasizes its robust compliance program, including AML, CFT measures, and a specialized unit to support law enforcement in addressing crypto-related crimes.

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