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Here's a quick preview of today’s content: Odds for new crypto ETF including Litecoin, Solana, Doge, and others are live, Ethereum’s average gas fee hits 5 year low, short-positions against Ethereum skyrocket, companies like Tesla and Metaplanet share BTC gains, SEC X account hacker charged for fake BTC ETF news, and so much more.

Never a dull day in the world of crypto. Let’s dive in.

Market Snapshot

As of 2/10/2025. Data per CoinMarketCap.

  • Bitcoin hovers $97.8k while Ethereum tries to stay above $2.7k

    • Data shows that Wall Street short positions against Ethereum have 6x’d since the presidential election

    • James Wo, founder and CEO of DFG Venture Capital explains that the reasoning is likely due to Ethereum/’s increased competition against emerging Layer-1 solutions, while Bitcoin does not have the same competition

  • Cardano and Litecoin both jump ~12% Monday evening as confidence levels increase for approval of ETF listings

Headline Roundup
The major headlines driving crypto markets

  • NYSE Arca files Cardano ETF on behalf of Grayscale as crypto ETF filings continue (TB)

  • Short positions on Ether surge over 500% since the election (CT)

  • Ethereum’s average gas fees hits 5 year low, near $.04 (CT)

  • Tesla reports $600M gains in Q4 BTC holdings (BI)

  • Kraken lists Dave Portnoy’s memecoin JAILSTOOL (TB)

  • Saudi Arabia plans to invest $14.9B in AI through global tech partnerships (CT) 

  • Strategy acquires an additional $742M of Bitcoin (CD) 

  • Nasdaq files with to list CoinShares' XRP and Litecoin ETFs (CB) 

  • UK citizen is seeking to buy the landfill where his $768M Bitcoin fortune may be buried (TB) 

  • Gold hits new ATH, outperforming Bitcoin YTD (TB) 

  • The University of Austin plans to launch a $5M Bitcoin investment fund (CT) 

  • Binance’s CZ  has never bought a memecoin or NFT (DC) 

  • Crypto donations exceeded $1B in 2024 (TD) 

  • BNPL firm Klarna plans to integrate crypto into its platform (CD) 

  • Metaplanet reveals $35M of unrealized profit in 2024 from Bitcoin holdings (CD) 

  • South Korean lawmaker is cleared of charges related to concealing crypto holdings (CT) 

  • Trust Wallet adds support for XRPL tokens (BT)

  • Bitcoin miners experience a 15% MoM production decline in January (CS)

  • Base denies that it is selling Ethereum and reaffirms its support for the ecosystem (CS) 

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M&A Announcements

  • Holonym Foundation acquires identity solution provider Gitcoin Passport for $10M (CD)

  • TAC Security makes strategic acquisition of web3 security firm CyberScope (EN)

  • Game publisher Ceden Network adds 9th studio acquisition with NBA-backed game Basketballverse (CN)

Launches

  • The Central African Republic launches a Pump.fun memecoin (DC) 

  • Proton launches self-custodial Bitcoin wallet (TB) 

  • Decentralized exchange Balancer launches V3 on Ether L2 Arbitrum (TD)

Venture Capital

  • Token trading infrastructure startup Reservoir completes $14M Series A led by Union Square Ventures (TB)

  • Hash Capital leads $8M financing for decentralized computing power monetization network, NodeGo (CC)

  • Drosera, an Ethereum security platform, raises $3.25M led by Greenfield Capital (TB)

  • Hivello secures strategic funding from Animoca Brands ahead of token listing (GNW)

Regulation

  • Japan prepares massive shift in crypto policies ahead of ETF and crypto tax cut approval (CCN)

  • North Carolina introduces bill to establish a Strategic Bitcoin Reserve (CD) 

  • Elon Musk eyes Ron Paul to lead an audit of the Federal Reserve which could have large repercussions for crypto regulation (BM)

Cybersecurity

  • Thai and Chinese police arrest two scammers and seize $2.5M of USDT (DC)

  • 25 year old pleads guilty to charges for crypto-related SEC X account hack and hit with $50k fine (CN)

  • Multiple iOS and Android applications found with SDK malware to exfiltrate wallet seed phrases (HNS)

Extra Reads

Chart of the Day

Bloomberg 2025 ETF odds are live.

Litecoin: 90% Dogecoin: 75% Solana: 70% XRP: 65%

Meme Dump

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