Good Morning,

The U.S. stock market saw liquidations north of $1 Trillon yesterday due to DeepSeek’s competitive AI offering. Crypto didn’t take too bad of a tumble though 😅

Here's a quick preview of today’s content: Nvidia sets record with single largest market drop, Coinbase is reassessing token listing process, Bitcoin enthusiasts fight against Ripple supporters about strategic reserves, Phemex breach totals $85M, and much more.

Let’s dive in.

Market Snapshot

As of 1/27/2025. Data per CoinMarketCap.

  • Crypto markets quickly rebound after the $1T U.S. market liquidity scare yesterday, with crypto down ~4% across the board

    • Bitcoin holds near $102k

    • Ethereum still barely above $3.1k

  • Flockerz ($FLOCK) find itself atop the 24 hour leaders following its $13.2M pre-sale, up 55%

Market Predictions

  • Traders on Kalshi are currently predicting if China will overtakes USA’s economy by 2030?

  • You can trade this market by checking out Kalshi

  • Get a $20 bonus when you deposit $100 or more with code “LIT” on signup

Headline Roundup
The major headlines driving crypto markets

  • Nvidia’s intraday –17% drop erases over $600B in market value, the largest single-day market cap decline in history (CS)

  • With all this mayhem about DeepSeek, Ben Thompson writes a great breakdown of the implication it possibly could have for all of big tech that you can read here 

  • Crypto detective ZachXBT found himself in the hot seat this week after he was accused of orchestrating a rug pull (CT)

  • KuCoin co-founders step down in its $300M US settlement over unlicensed money-transmitting operations (DC) 

  • Crypto ETPs recorded $1.9B in inflows last week following Trump’s crypto executive order (CT) 

  • MicroStrategy acquires an additional $1.1B of Bitcoin and launches a $250M perpetual strike preferred stock offering (BBG)

  • Bitcoin enthusiasts slam Ripple for pushing a strategic multi-asset reserve (TD) 

  • Coinbase’s Brian Armstrong calls for 11% Bitcoin reserve allocation (TD) 

  • Ripple Labs secures money transmitter licenses in Texas and New York (CT) 

  • Poland’s Bitcoin ATM network grows to 219, surpassing El Salvador’s (CT) 

  • Coinbase will reassess coin listings to address the growing token influx (DH)

  • Solana widens its lead over Ethereum in transaction fees (TD) 

  • ‘Bitcoin Jesus’ Roger Ver is seeking a presidential pardon from Trump (DC) 

  • Crypto exchanges Bitpanda, OKX, and Crypto.com secure EU MiCA licenses (CD) 

  • OpenSea offers Gemesis NFT holders access to the beta of second generation platform OS2 (TD) 

  • Vine Coin surges +60% after Binance futures listing (CD)

Launches

  • Ozak AI’s token presale surpasses $500K (CD)

  • Decentralized prediction market MYRIAD launches on Abstract as mainnet goes live (DC) 

  • Web3 gaming platform Funtico launches TICO token to support gaming sector (DC) 

  • Ethereum L2 chain Abstract chain goes live on the mainnet (TB) 

Venture Capital

  • Blockchain identity platform Humanity Protocol secures $20M at a $1.1B valuation (TV) 

  • Blockchain interoperability protocol Analog raises $5M at a $300M token valuation (TB)

Cybersecurity

  • Crypto exchange Phemex suffers an $85M loss in a major security breach (BC)

Extra Reads

Chart of the Day

Real World Asset tokenization jumped from a $16B —> $60B market this week 👀

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

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