Outside Source
Today’s edition of the weekly recap spotlights Jupiter’s major platform change at ‘Catstanbul 2025,’ Elon Musk’s exploration of blockchain for government efficiency, and MicroStrategy’s continued Bitcoin accumulation. Meanwhile, Ledger’s co-founder was rescued from kidnapping in France.
Bitcoin reaches new all-time high
- Bitcoin achieved a record price of $109,114 on Jan. 20 before settling at around $105,000 at press time (see chart below).
- President Trump, who fancies himself a “crypto president,” didn’t mention cryptocurrency during his inauguration. Meme coins were on the downtrend shortly after.
Jupiter makes major platform updates at ‘Catstanbul 2025’
- Jupiter, the Solana DEX aggregator, announced major platform changes at its ‘Catstanbul 2025’ event in Turkey, following its recent $600 million community airdrop and deal with Moonshot.
- The platform unveiled a ‘V2’ redesign, marking a return to beta status as new features are implemented.
NFTs and meme coins are ‘collectibles’
- David Sacks, the new White House crypto advisor, defined non-fungible tokens (NFTs) and meme coins as “collectibles” rather than securities or commodities
- In a Fox Business interview, Sacks compared these digital assets to baseball cards and stamps, specifically referencing the Official Trump (TRUMP) meme coin.
- The Trump coin continued to plummet in value over the weekend.
Elon Musk explores blockchain for government efficiency
- Elon Musk, as head of Trump’s Department of Government Efficiency (DOGE), reportedly discussed implementing blockchain technology for tracking government expenditures.
- The DOGE website has also removed the Doge meme logo, impacting the price of the original meme coin.
- Dogecoin‘s price initially rose to $0.385 on Tuesday when the agency website featured Kabosu’s likeness but later declined after it was removed.
Trump meme coin analysis reveals profit disparity
- Chainalysis findings show approximately 60 whale wallets have each realized profits exceeding $10 million from the TRUMP token, while most retail investors remain at break-even.
- Distribution analysis reveals 77% of holders own less than $100 worth, with 80% of TRUMP or MELANIA holders possessing under $1,000 in Solana-based assets.
- Around forty whales controlling over $10 million in tokens account for 94% of total holdings, while the token attracted 50% new users to the Solana ecosystem.
Senators call for Trump meme coin investigation
- Senator Elizabeth Warren and Representative Jake Auchincloss sent a letter to federal regulators requesting an investigation into Trump and Melania meme coins launched on Solana.
- The legislators expressed concerns about potential conflicts of interest, consumer protection issues, and national security implications of the Trump-linked cryptocurrencies.
Vitalik Buterin criticizes ‘Politician Coins’
- Ethereum founder Vitalik Buterin called cryptocurrencies issued by politicians “a perfect bribery vehicle,” explaining that simply buying and holding these coins increases the value of politicians’ holdings.
- Buterin emphasized the “deniability” aspect, noting that people can claim they’re merely speculating while effectively donating to issuers through price appreciation.
Ivanka Trump warns of fraudulent cryptocurrency
- Former First Daughter Ivanka Trump issued a public warning about an unauthorized cryptocurrency using her name and likeness, branded as ‘$IVANKA’.
- In a statement on X, she explicitly denied any involvement with the token, emphasizing the risk of consumer fraud and unauthorized use of her identity.
MicroStrategy takes steps to manage Bitcoin-related debt
- MicroStrategy announced measures to handle $1.05 billion in corporate debt connected to its initial Bitcoin purchases
- The company, under Michael Saylor’s leadership, has accumulated 461,000 Bitcoin valued at nearly $49 billion.
- The firm continues its acquisition strategy, recently adding $1 billion worth of Bitcoin to its holdings
Animecoin reaches $350m market cap after launch
- ANIME token, supporting the Azuki NFT project ecosystem, achieved over $350 million market capitalization within 24 hours of launch
- The token’s total supply is set at 10 billion tokens with a specific allocation: 37.5% designated for Azuki community and 13% reserved for future DAO management.
Ledger co-founder rescued after kidnapping in France
- David Balland, co-founder of cryptocurrency wallet developer Ledger, was successfully rescued in a police operation following his kidnapping in Central France.
- Paris Prosecutor Laure Beccuau reported that Balland and his wife were taken from their home on Tuesday and held at separate locations, with kidnappers demanding cryptocurrency ransom from another Ledger co-founder.
Ross Ulbricht thanks Trump for presidential pardon
- Silk Road founder Ross Ulbricht expressed gratitude to Trump for his full pardon, following his previous two life sentences plus 40 years for operating the darknet marketplace from 2011 to 2013.
- In a video posted to X, Ulbricht thanked Trump for “this amazing blessing” and expressed gratitude for having his “life back” and “future back.”
Bitcoin whales resume accumulation after early January lull
- Large bitcoin holders have returned to purchasing after a period of profit-taking, with monthly growth of holdings accelerating from -0.25% on Jan. 14 to +2% on January 17.
- CryptoQuant data shows this represents the highest monthly accumulation rate since mid-December, indicating renewed institutional confidence.
North Korean hackers suspected in $70m Phemex exploit
- Singapore-based crypto exchange Phemex suffered a $70 million breach, with blockchain security experts pointing to North Korean state-sponsored attackers as likely perpetrators.
- The exchange halted withdrawals Thursday after suspicious activity was detected, with losses initially at $30 million before expanding as the attack continued.
WazirX wins Singapore court approval for restructuring
- The Singapore High Court granted cryptocurrency exchange WazirX approval to restructure following its $230 million hack last year.
- The exchange plans to distribute funds to creditors within 10 business days if the restructuring plan receives final approval, addressing the July hack that claimed 45% of its $500 million holdings.
Binance’s CZ plans return to investment role
- Former Binance CEO Changpeng “CZ” Zhao will take an “active role” at YZi Labs (formerly Binance Labs) after serving four months in prison for money laundering charges.
- The rebranded YZi Labs, named after Binance’s co-founders, will expand beyond crypto to include AI and biotech investments as a family office investment vehicle.
SEC creates crypto task force under new leadership
- Acting Chair Mark Uyeda announced a new crypto task force dedicated to develop a comprehensive regulatory framework.
- Commissioner Hester Peirce, known for her pro-crypto stance, will lead the task force.
This article first appeared at crypto.news
