Summary
gm, Tether, the largest stablecoin issuer, is reportedly engaging with US Congressional lawmakers to influence stablecoin regulation, potentially shaping the future of the industry. Meanwhile, Bitcoin experienced a slight downturn, with its price hovering around $97,575, as Bitcoin ETFs saw significant withdrawals totaling $650.8 million from Monday to Thursday. However, Strategy (formerly MicroStrategy) made headlines by purchasing $742.4 million worth of Bitcoin, increasing its holdings to 478,740 BTC. In the altcoin space, Solana-based Pump.fun launched a mobile app for memecoin creation and trading, reflecting the ongoing memecoin trend, while Wrapped AVAX (WAVAX) saw increased wallet accumulation despite a price decline, suggesting potential long-term strategy among traders.

News Headlines
📈 Coinbase Targets USDT with $86 Billion 'Stretch Goal' for USDC

  • Coinbase CEO Brian Armstrong announced a goal to make USDC the top dollar stablecoin, challenging Tether's dominance.
  • The company aims to increase USDC's market cap from $56 billion to surpass Tether's $142 billion, potentially reshaping the stablecoin landscape.

🔍 Bitcoin Analyst PlanB Transfers Holdings to ETFs

  • Prominent Bitcoin analyst PlanB has moved all his Bitcoin holdings from self-custody to spot Bitcoin ETFs.
  • This decision highlights the growing acceptance of ETFs as a secure and convenient way to hold Bitcoin, potentially influencing other investors.

🏗️ Bitcoin Mining Industry Creates Over 31,000 Jobs in the US

  • The Bitcoin mining industry has generated over 31,000 jobs in the United States, both directly and indirectly.
  • Texas leads with more than 12,200 jobs created directly from Bitcoin mining activities, contributing $4.1 billion annually to the US GDP.

💼 12 US States Hold $330M Stake in Strategy (MicroStrategy) Stock

  • Twelve US states reported owning Strategy stock in their pension funds or treasury, totaling $330 million by the end of 2024.
  • California leads with the largest holdings, followed by Florida, Wisconsin, and North Carolina, indicating growing institutional acceptance of Bitcoin-related investments.

🎮 GameStop Explores Bitcoin Investment, Stock Rises

  • GameStop is reportedly considering investments in Bitcoin and other cryptocurrencies, causing its stock price to rise.
  • This move follows GameStop's previous venture into Web3 with the launch of an NFT marketplace, signaling continued interest in crypto from traditional retailers.

Market Metrics

Fundraising & VC
No fundraising data today.

On-chain Data
1. ApeCoin (APE) token unlocked today ($11.29M, 2.16%)
2. Neon (neon) token unlocked today ($10.10M, 22.51%)
3. Oasis Network (ROSE) token unlock in 1 day ($2.70M, 0.92%)
4. Melania Meme (MELANIA) token unlock in 1 day ($78.49M, 12.57%)

Regulatory
🚨 Argentine President Faces Fraud Charges Over LIBRA Cryptocurrency

  • President Javier Milei is charged with fraud for promoting LIBRA cryptocurrency, which saw a massive price drop after his endorsement.
  • The complaint alleges Milei's involvement with Kelsier Ventures led to significant investor losses.

💼 Australian Regulator Cracks Down on Crypto Exchanges

  • AUSTRAC takes action against 13 remittance service providers and crypto exchanges for compliance issues.
  • Over 50 other providers are under investigation, highlighting increased regulatory scrutiny in Australia's crypto sector.

💰 Indian Authorities Seize $190M in Crypto from BitConnect Scheme

  • Indian Enforcement Directorate seizes nearly $190 million in cryptocurrency linked to the BitConnect Ponzi scheme.
  • The ongoing investigation has resulted in additional seizures of assets from scheme associates.

🏦 SEC Pauses Lawsuit Against Geosyn Mining Amid Federal Fraud Charges

  • The SEC has halted its lawsuit against Geosyn Mining as federal prosecutors file parallel criminal charges.
  • Executives allegedly defrauded customers by misusing funds for personal luxuries instead of purchasing mining equipment.

🏛️ Texas to Hold Public Hearing on Bitcoin Reserve

  • The Texas Senate will conduct a public hearing on establishing a state Bitcoin reserve on February 18.
  • Analysts suggest the move may be largely symbolic unless accompanied by an immediate investment strategy.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency is moving within a rectangle formation between support at 94883 and resistance at 97434. A decisive break through one of these levels indicates the new direction for the currency. The currency has support at points 93800 and resistance at points 101600. The RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well. The currency is overall assessed as technically slightly negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency has broken down through support at points 2700. This predicts a further decline. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which confirms the trend. The RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well. The currency is overall assessed as technically negative for the short term.

Governance & Code
🌐 Origin DAO | Yield Forwarding Request: FIERY (Active Vote)
- This proposal seeks to enable yield forwarding and pool booster for the FIERY pool on SwapX.

🦄 Uniswap DAO | Uniswap Unleashed: Unichain and Uniswap v4 Liquidity Incentives
- This proposal from the Uniswap Foundation and Gauntlet, proposes funding liquidity incentive programs for Uniswap v4 and Unichain.