Good Morning,

Here's a quick preview of today’s content: Crypto markets continue to track tech market movement, Argentina is getting Coinbase offerings, Blackrock owns a good chunk of BTC supply with recent purchases, Sushi plans for DEX improvement with acquisition, Dogecoin ETF is filed, U.S. states are filing for their own BTC reserves, and much more.

Happy hump Day! Let’s dive in.

Market Snapshot

As of 1/28/2025. Data per CoinMarketCap.

  • BTC continues volatile movement, but sticks close to $102k while ETH struggles to break $3.3k

    • Crypto markets continue to follow tech market price action as NVIDIA and NASDAQ bounce back 2% from “Chinese AI scare” on Monday

  • Memecoin $DPEPE dominates memecoin market and soars 2200%+ in 24hrs

  • Dogcoin ($DCOIN) hit trending tokens list after skyrockets 600%+ on Tuesday

Market Predictions

  • Traders on Kalshi are currently predicting how high inflation will get in 2025

  • 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

  • Coinbase secures approval to offer its services in Argentina (CD)

  • NEOS Investments announced a 29.5% distribution yield for their Bitcoin High Income ETF, BTCI

  • Bitwise files for a Dogecoin ETF (CD)

  • Quantum startup BTQ proposes a quantum computing-powered alternative to Proof of Work (CD)

  • BlackRock now holds 2.7% of Bitcoin’s supply after buying an additional $1B of Bitcoin (TD) 

  • Japanese hotel investor Metaplanet raises $745M via a warrant issuance to buy Bitcoin (CD) 

  • ETF provider Turtle Capital proposes 2x leveraged ETFs for tokens including Solana, XRP, and TRUMP (CD)

  • SEC removes Ripple-related actions with case moving to Court of Appeals (CB)

  • X plans to partner with Visa for its long-awaited payments services (DC)

  • Websites selling Trump merchandise now accept Trump memecoin as payment (BBG) 

  • Trump memecoin has generated $11.4M in fees for the president’s affiliates (BBG) 

  • EV charging firm Nuvve will begin allocating up to 30% of excess cash to buy Bitcoin (CD) 

  • Jim Cramer encourages Bitcoin ownership over investing in MicroStrategy (CD)

  • Jupiter’s success sparks Solana ecosystem dominance concerns (CD)

  • Artist Burnt Toast replaces Julian Holguin as CEO of NFT project Doodles (DC)

  • Bitcoin ordinals drops to their lowest levels since February 2024 (TD) 

  • Movement Labs launches developer mainnet to bring Facebook’s MoveVM to Ethereum (CD)

  • SSV DAO unveils SSV 2.0 framework to enables bApps to use Ethereum L1 validators (CD) 

  • Pudgy Penguins ecosystem plunges after L2 Abstract’s launch (DC)

M&A Announcements

  • Bitcoin miner Hive Digital Technologies agrees to acquire a Paraguay site from peer Bitfarms for $85M (CD)

  • Sushi acquires Shipyard software to improve DEX performance (CT)

Launches

  • Venice AI’s Venice Token achieves a fully diluted valuation of $1B two hours after launch (CT)

  • RWA platform Ondo Finance launches tokenized US Treasury offering OUSG to XRP Ledger network (CD)

Venture Capital

  • Sign, a token infrastructure startup, raises $16M led by Yzi Ventures (CC)

  • Web3 gaming studio Pixion Games announces $12.4M round led by Delphi Ventures (BG)

  • A16Z CSX and 1kx invest $10M into layer 1 network, Pod (TB)

  • Analog finalizes $5M seed round Gate Ventures, BackerDAO, Foresight Ventures, and others (CC)

  • BlackDragon, Chorus Ventures, and many other investors back InceptionLRT with $3.5M funding (CH)

Regulation

  • Kentucky representative plans to file a ‘Bitcoin Strategic Reserve Bill’ in state’s General Assembly (TD) 

  • Arizona advances bill to create a strategic Bitcoin reserve (TD)

  • CFTC announces public roundtable with industry leaders to discuss crypto regulatory efforts (FX)

Cybersecurity

  • Hackers exploit DogWifTools to drain $10M from the malicious memecoin bundler’s users (TB) 

  • Judge sentences a crypto Ponzi scheme promoter to 30 months in prison for $8.4M fraud (DC) 

  • France is probing Binance for money laundering, drug trafficking, and tax fraud (DC) 

  • Unicorn Fart Dust memecoin creator had wallet hacked for $1.2M (DC)

Extra Reads

  • Robinhood co-founder and CEO writes personal take on democratizing private investing through tokenization and the U.S. taking crypto seriously

    His Op-Ed Here

Chart of the Day

Blackrock announced another Bitcoin purchase, reaching 576.2k BTC owned, which is 2.75% of all possible Bitcoin. Check out the distribution of Bitcoin ownership below 👀

Meme Dump

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