A publicly traded company on the Toronto Stock Exchange (TSX), Goodfood Market Corp., has announced plans to adopt a bitcoin treasury strategy. The initiative aims to “strengthen its balance sheet and create long term shareholder value.” Canada’s Leading Online Grocer Goodfood Adds Bitcoin to Its Plate in Bold Treasury Strategy The Montreal-based Canadian online grocery
Republican U.S. Senator Cynthia Lummis took aim at two federal agencies on behalf of the crypto industry this week, just days before the wide-reaching transition of the federal government when President-elect Donald Trump again takes office. Lummis warned the U.S. Marshals Office to slow down its crypto asset sales and she cautioned officials at the Federal Deposit Insurance Corp. that anybody who gets rid of evidence about whether the agency directed banks to drop digital assets clients will be prosecuted, touching on two of the sector's most prominent issues. Keeping the idea of a U.S. bitcoin reserve top-of-mind as a new Congress starts work and Trump returns to the White House next week, the Wyoming Republican sent a letter this week to the director of the U.S. Marshals Office cautioning that the department should slow down its process for liquidating the crypto assets seized in the Silk Road case. The sales of bitcoin ( BTC ), including current holdings of almost 70,000 bitcoin worth about $6.9 billion, are inappropriate, she argued, considering Trump's interest in a U.S. bitcoin strategic reserve. "The Department continues to aggressively push forward with liquidation plans despite pending legal challenges, demonstrating an unusual urgency to dispose of these assets," Lummis wrote. "This rushed approach, occurring during the presidential transition period, directly contradicts the incoming administration's stated policy objectives regarding the establishment of a National Bitcoin Stockpile." On its own, there's little authority the Marshals Office would have to change course from the predetermined liquidation plans already in motion, and it can't make decisions based on a hypothetical government stockpile. The president and Congress would have to move to formally establish a reserve and a process by which the U.S. could redirect seized or purchased tokens into that fund. Crypto markets also noted on Thursday the reports that Trump may be interested, too, in reserves of other, U.S.-based tokens. Lummis also sent a letter to the FDIC on Thursday, saying that agency insiders have reported that there's an internal effort to conceal evidence of what the crypto industry knows as Operation Chokepoint 2.0 — a campaign to sever digital assets activities from U.S. banking. She said any effort to keep such materials from scrutiny would be "illegal and unacceptable." Read More: U.S. Regulator Told Banks to Avoid Crypto, Letters Obtained by Coinbase Reveal A spokeswoman for the FDIC declined to comment on the letter. The Senate Banking Committee has established a subcommittee focusing on digital assets this year, and Lummis is said to be leading it. She and Senator Tim Scott, the chairman of the full committee, will have a chance to run the panel's crypto agenda in this new session, though they'll be countered by its ranking Democrat, Senator Elizabeth Warren of Massachusetts. Scott issued a plan for the committee this week, including the crafting of a U.S. regulatory framework for digital assets. He said he'd "foster an open-minded environment for new, innovative financial technologies and digital asset products, like stablecoins, that promote financial inclusivity."
The Federal Deposit Insurance Corporation (FDIC) is under fire after Senator Cynthia Lummis accused the agency of trying to bury evidence of its involvement in what the crypto community has dubbed “Operation Chokepoint 2.0.” In a scathing letter addressed to FDIC Chair Marty Gruenberg, Lummis revealed whistleblower allegations claiming the agency is destroying documents linked to its digital asset activities while threatening employees to keep quiet. “These actions are illegal and unacceptable,” Lummis wrote, demanding the immediate preservation of all documents, communications, and metadata related to digital assets since January 2022. She warned Gruenberg that any obstruction of Senate oversight would result in criminal referrals to the Department of Justice. The letter outlines allegations of staff being closely monitored to prevent leaks to the Senate, with some employees reportedly facing legal threats for speaking out. Whistleblowers, banks, and a crypto crackdown The whistleblower claims add a new layer to the FDIC ’s iron-fisted approach to crypto. Lummis alleged that documents relating to several key events—such as the liquidation of Silvergate Bank and the supervision of Signature Bank—are at risk of being destroyed. “You must cease and desist the destruction of materials immediately,” she demanded, adding that any classification of these records as “confidential” would not protect them from the Senate’s oversight powers. The letter identified eight categories of information the FDIC must preserve. These include supervision records for banks servicing crypto businesses, inter-agency communications about digital assets, and enforcement actions. Lummis also demanded the preservation of materials containing specific terms like “crypto,” “Bitcoin,” “Ethereum,” and “digital asset.” This wide-ranging demand underscores her frustration with what she described as evasive and obstructive behavior by federal regulators. Silvergate and Signature, who both provided services to major crypto firms, have been at the center of speculation about regulatory pressure. Critics argue their collapses were not coincidental but the result of a coordinated effort to choke off the crypto industry’s access to traditional banking. Origin of Operation Chokepoint 2.0 Operation Chokepoint 2.0 is a term that has gained traction among crypto enthusiasts. Many believe it’s a reboot of the Obama-era initiative aimed at cutting off banking services to industries deemed “high risk.” While the original program targeted payday lenders and firearms dealers, its sequel set its sights on crypto. Lummis’ accusations lend weight to the theory. She described the FDIC’s actions as part of a broader effort by regulators, including the SEC and OCC, to isolate crypto businesses from the financial system. Critics say these agencies are creating a chilling effect, where banks are too scared to work with crypto clients for fear of regulatory blowback. The timing of these allegations is telling. In the wake of high-profile bank failures and increased scrutiny of digital assets, the crypto industry has been grappling with what many see as a hostile regulatory environment. The collapses of Silvergate and Signature have been particularly damaging, not just for the firms themselves but for the broader perception of crypto’s place in the financial system. President Donald Trump, a vocal supporter of crypto, has pledged to dismantle Operation Chokepoint 2.0 when he gets back into office. “The crypto industry is being unfairly targeted,” he said, calling for an end to what he described as “a coordinated attack on innovation.” Meanwhile, the Biden administration has denied the existence of any such operation. Officials claim their actions are focused on combating fraud and ensuring financial stability, not targeting crypto specifically. But for many in the industry, these denials ring hollow. For Lummis and her allies, the stakes couldn’t be higher. She warned that any attempts to destroy evidence or obstruct oversight would be met with swift action. “If it is uncovered that you or your staff have knowingly destroyed materials or sought to obstruct the oversight functions of the Senate, I will make swift criminal referrals to the U.S. Department of Justice,” she wrote. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
Litecoin’s LTC climbed more than 20% in the past 24 hours after analysts speculated that an exchange-traded fund (ETF) might be in the payments token’s near future. In a Jan. 15 X post , Bloomberg ETF analyst James Seyffart pointed out that Canary Capital, which has applied to the Securities and Exchange Commission (SEC) for approval of a Litecoin ETF had seen some movement on its filing. Specifically, Canary Capital filed an amended S-1 form with the SEC. That, Seyffart suggested, could mean that it had received feedback from the regulator about its filing, which could mean that the SEC is considering making Litecoin the third token to have its own ETF after bitcoin and ether. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
As Bitcoin (BTC) eyes a potential correction, traders are speculating on the implications of an unfilled CME futures gap beneath $80,000. The recent volatility in the BTC market highlights a
BTC reaches $100k before pullback, dominance falls. Trump considers strategic reserves for SOL & XRP. XRP at 7 year high, overtakes BTC in Google trends. SEC files opening brief in appeal against XRP. Bitfinex to get back 80% of hacked BTC. BTC could top $300k in 2025: Hashkey survey. SEC could freeze non-fraud crypto cases. Trump to commute Ross Ulbricht on day 1. MicroStrategy targets $2b stock issuance. Texas senator introduces BTC reserve bill. Oklahoma lawmaker introduces BTC reserve bill. Nation state interest in buying BTC: Bitwise. Pension funds interest in crypto rising. VanEck’s new ETF focused on crypto firms. BitMEX hit with another $100m fine.
While a litecoin (LTC) exchange-traded fund is still only theoretical, investor demand for the product could soar as high as $580 million if Wall Street adopts it at the same rate it did LTC’s better-known cousin bitcoin. That calculation is based on the roughly 6% of bitcoin’s total supply now locked up in a variety of ETFs. Similar performance by a LTC product would yield more than $500 million of inflows for the token, which has a similar Proof of Work consensus mechanism to that of BTC. These possibilities came into focus Thursday as market participants began sizing up the likelihood that LTC might become the third crypto asset to get its own ETF in the U.S., after BTC and ETH. Canary Capital, a new digital asset-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, is best positioned to issue such a product. It got the ball rolling on a litecoin ETF in October. On Thursday, Nasdaq stock exchange filed a 19b-4 document with the Securities and Exchange Commission, officially putting the regulator on the clock to make a decision. Bloomberg’s Balchunas expects LTC to garner SEC approval given industry chatter he said he’s been hearing. Litecoin’s similar tech specs to bitcoin may also prove a factor, assuming their reliance on proof of work consensus mechanism spell better likelihood of being considered a commodity. The question is whether there is enough investor demand to make a litecoin fund a success or not. “Even if demand is comparatively low, it could still see some demand,” said James Seyffart, ETF analyst at Bloomberg Intelligence. “Just because the success won’t be as crazy as the bitcoin or even the ethereum ETFs doesn’t mean that it can’t be successful. The market and investors will make that determination.” The bitcoin ETFs set unprecedented records in their first year of trading, with the BlackRock iShares Bitcoin Fund (IBIT) becoming the most successful launch in the history of U.S. ETF launches. “The key question here remains the uncertainty of investor demand for additional products and whether new crypto ETP launches will matter,” JPM analyst Kenneth B. Worthington wrote in a note on Monday. Worthington believes that tokens beyond Bitcoin, Ethereum or Solana oftentimes lack depth as they “may capture incremental attention for a limited time.” About 6% of bitcoin total market capitalization, which stands at a whopping $1.97 trillion , is locked up in the ETFs, according to a report by JPMorgan earlier this week. In comparison, the ethereum (ETH) ETFs comprise about 3% of ether’s $401 billion market cap . He used this so-called “adoption rate” to determine how much inflows the proposed XRP (XRP) and Solana (SOL) ETFs could attract which Worthington concluded could add up to a combined AUM of up to $14 billion. When applying this calculation to Litecoin, which stands at a $9.6 billion market cap , Canary Capital’s fund could attract anywhere between $290 to $580 million in the first year of trading, depending on how well investors will adopt the fund. While $290 million seems disappointing compared to the $108 billion that the spot bitcoin ETFs have gathered or the $12 billion that the ether ETFs currently hold, it is a larger amount than most ETFs in the U.S. handle. According to Seyffart, only about 1,330 out of roughly 4,000 ETFs in the U.S. have an AUM greater than $300 million.
Senator Cynthia Lummis has issued a warning to the Federal Deposit Insurance Corporation (FDIC) regarding allegations of document destruction related to “Operation Choke Point 2.0” (OCP 2.0). Whistleblowers have accused the agency of withholding and destroying materials tied to the alleged anti-crypto campaign. This has intensified scrutiny over the Federal Deposit Insurance Corporation’s practices. Senator Cynthia Lummis Demands FDIC Preserve Documents Tied To OCP 2.0 In a letter dated January 16, 2025, Senator Cynthia Lummis addressed FDIC Chair Marty Gruenberg, demanding immediate action to preserve all documents linked to OCP 2.0. The initiative allegedly involved a multi-agency effort to limit crypto businesses’ access to banking services. The pro-crypto Lummis warned that any destruction of these documents or retaliation against whistleblowers could result in criminal referrals to the Department of Justice. She emphasized that obstructing Senate oversight is illegal and unacceptable. The letter also referenced whistleblower claims that staff access to these materials is being closely monitored to prevent disclosure. Addressing, Marty Gruenberg, the FDIC Chair, pro-crypto Senator Cynthia Lummis added, “This is illegal and unacceptable. You are directed to ensure your staff cease and desist destruction of all materials and end all retaliatory actions immediately.” Moreover, this warning comes amid reports that Donald Trump’s advisory team, including Elon Musk, is considering eliminating the FDIC as part of a banking sector overhaul. The proposed changes include merging the FDIC, OCC, and Federal Reserve’s nonmonetary functions to streamline regulation. Advisors have also floated the idea of transferring deposit insurance responsibilities to the Treasury Department. Whistleblower Allegations and FDIC Compliance Issues Whistleblowers allege that FDIC management has taken steps to prevent the release of critical information tied to OCP 2.0. These efforts reportedly include threats of legal action against staff who speak out and deliberate attempts to destroy key documents. The controversy extends to the wind-down of Signature Bank and Silvergate Bank, two institutions with strong ties to the crypto industry. These closures have been central to ongoing investigations into the broader crackdown on crypto businesses. Notably, the pro-crypto Senator Cynthia Lummis recently probed the U.S. Marshals over their proposed plans to sell seized Bitcoin. Lummis flagged concerns about the timing of the sale, citing its contradiction with President-elect Donald Trump’s Bitcoin Reserve agenda. Scott Bessent Opposes CBDC Amid Crypto Debate Meanwhile, Scott Bessent, President Donald Trump’s Treasury pick, has voiced opposition to the creation of a U.S. central bank digital currency (CBDC). In a recent Senate hearing, Bessent argued that the U.S. dollar already provides secure investment alternatives, making a CBDC unnecessary. President @realDonaldTrump ’s nominee for Treasury Secretary, Scott Bessent: “On CBDC’s, I see no reason for the U.S. to have a central bank digital currency.” Agreed. Now let's make sure it's in law. pic.twitter.com/HaVD9Wjlkc — Tom Emmer (@GOPMajorityWhip) January 16, 2025 Bessent’s stance aligns with Trump’s broader support for Bitcoin and skepticism of foreign CBDCs. He emphasized that Bitcoin mining safeguards against other nations’ adoption of centralized digital currencies. This reinforces Trump’s pro-crypto policies and highlights the administration’s preference for decentralized financial systems. Nonetheless, most recently, Trump’s Treasury nominee Scott Bessent faced scrutiny from Senator Elizabeth Warren before his Senate Finance Committee confirmation hearing. Warren’s 31-page letter questions Bessent’s views on crypto regulation, including the potential authority of OFAC over stablecoins to combat risks like money laundering. The post Senator Cynthia Lummis Threatens Action Over Alleged FDIC Document Destruction appeared first on CoinGape .
The local listing of bitcoin ETFs is being weighed by the Thailand SEC which would make them accessible to both individuals and institutions. Thailand Looking to Adopt Bitcoin ETFs The listing of bitcoin exchange-traded funds (ETFs) is being contemplated by Thailand’s Securities and Exchange Commission (SEC). The Secretary-General of the regulatory body, Pornanong Budsaratragoon, confirmed
Komainu, a prominent digital asset custody firm, has raised $75 million in Bitcoin (BTC) investment in a Series B funding round from Blockstream Capital Partners. This investment is important for the outfit and will help the company expand internationally. According to the announcement, the firm intends to use the funds to improve its operations, grow its presence worldwide, and enhance its capabilities. Komainu Plans to Establish its Bitcoin Treasury Meanwhile, Komainu, a joint venture between Nomura, a Japanese financial giant , has become an important custodian for high-quality digital assets. With the new funding, Komainu will build its infrastructure to meet the increasing demand from institutions for secure and regulated crypto custody services. Notably, it plans to establish its own Bitcoin treasury. The company manages the Bitcoin provided by Blockstream Capital. Komainu will also improve its skills in managing Bitcoin and use this experience to offer customized solutions for institutional clients. Meanwhile, Blockstream’s CEO and co-founder, Adam Back, will join the Board of Directors at Komainu as part of an investment deal. Also, two other Blockstream executives, Peter-Paul Pardi and Nicolas Brand, will join the Komainu board. Their experience and leadership will help Komainu grow. With this investment and new board members, Komainu will expand and offer institutional clients the security and trust they need in the changing crypto market. Intriguingly, Komainu boasts of industry-leading services designed by security, financial, and crypto experts. Bitcoin is an Important Hedge Against Inflation Recall that Adam Back, a British cryptographer, and cypherpunk, joined a circle of financial experts who recently became bullish on Bitcoin’s valuation . The CEO is certain BTC would reach a record value of over $100k. Meanwhile, Blockstream recently closed a $210 million funding round , strengthening its Bitcoin treasury. Founded in 2014, Blockstream has consistently been at the forefront of crypto innovation. Its core mission centers around improving Bitcoin’s scalability and efficiency. Likewise, a well-known financial expert, Novogratz, voiced his belief that Bitcoin will function as an important hedge against the potential implication of increasing debt . Novogratz earnestly advised investors to consider taking action by contemplating obtaining BTC amid a shocking revelation regarding the increasing national debt of the United States. The post Komainu Bags $75M In Bitcoin from Blockstream Capital Partners appeared first on TheCoinrise.com .