Thailand and large Bitcoin holders are both making waves in the cryptocurrency space, signaling a shift in how digital assets are being utilized and perceived globally. While Thailand is piloting cryptocurrency payments in Phuket to modernize its tourism economy, institutional investors are once again accumulating Bitcoin after a significant price correction, reflecting renewed confidence in its long-term potential. Large Bitcoin Holders Resume Accumulation Amidst Post-Correction Recovery Bitcoin’s price trajectory has once again captured the spotlight as large-scale investors have resumed their accumulation of the cryptocurrency following a notable price correction late in 2024. After Bitcoin achieved an unprecedented six-figure milestone, its value experienced a sharp decline, spurring strategic buying activity among institutional investors. This trend signals a renewed confidence in Bitcoin’s potential for recovery and long-term growth. Cauê Oliveira, head of research at Blocktrends, revealed in a Jan. 8 post on CryptoQuant that institutional investors have purchased over 34,000 BTC, worth approximately $3.2 billion. This influx of buying pressure comes as Bitcoin begins to recover from its December plunge. Oliveira highlighted that the accumulation follows a significant sell-off by wallets holding between 1,000 and 10,000 BTC, which collectively dumped 79,000 BTC in the week after Dec. 21. This sell-off occurred shortly after Bitcoin reached an all-time high of over $108,000 on Dec. 17, propelled by the US Federal Reserve’s interest rate cuts. However, the rapid price correction—approximately 15%—presented a buying opportunity for strategic investors. “Large players took advantage of the consolidation,” Oliveira explained, noting that institutional buyers executed trades in smaller increments to accumulate Bitcoin at prices below $95,000. The shift in Bitcoin’s seven-day balance change, which flipped positive after the late-December sell-off, suggests renewed buying momentum. At the time of writing, Bitcoin is trading at around $94,265, reflecting a modest 2.57% decline over the past day. This price movement aligns with broader market trends, as disappointing US jobs and economic data have dampened expectations of additional Federal Reserve rate cuts later in January. Despite these headwinds, analysts at Bitfinex are optimistic that the worst of the downward pressure on Bitcoin's price is behind us. In a Jan. 6 market note, Bitfinex analysts observed that sell-side liquidity in Bitcoin markets is “shrinking at a rapid pace,” suggesting that the cryptocurrency is entering a phase of stabilization and potential growth. Optimistic Projections for 2025 Looking ahead, several experts predict that Bitcoin could be on the verge of a historic rally in 2025. The anticipated inauguration of pro-crypto policies under incoming US President Donald Trump and growing nation-state adoption of Bitcoin are expected to provide strong tailwinds for the cryptocurrency market. Fidelity Digital Assets research analyst Matt Hogan echoed this sentiment in a Jan. 7 report, stating that “more nation-states, central banks, sovereign wealth funds, and government treasuries will look to establish strategic positions in Bitcoin.” This aligns with the views of Blockware analysts, who suggested last month that the establishment of a US Bitcoin reserve could significantly boost its price. In their projections, a worst-case scenario would see Bitcoin surpass $150,000, while a best-case scenario envisions a rise to over $400,000. The renewed interest in Bitcoin among institutional investors is underpinned by several key factors: Macroeconomic Shifts: With traditional monetary policies facing uncertainty, Bitcoin’s decentralized nature and fixed supply make it an attractive hedge against inflation and economic instability. Regulatory Clarity: The expectation of more transparent and supportive regulatory frameworks under a new US administration could further enhance Bitcoin’s appeal. Strategic Asset Allocation: As Hogan highlighted, institutional entities are increasingly recognizing Bitcoin’s potential as a long-term strategic asset, complementing their broader portfolios. The recent resurgence of institutional Bitcoin accumulation marks a pivotal moment for the cryptocurrency as it recovers from its late-2024 correction. With significant buying pressure from large holders and optimistic forecasts for the year ahead, Bitcoin’s role as a global financial asset continues to solidify. As nation-states and institutional players deepen their involvement, the stage is set for a potentially transformative year in Bitcoin’s history. Thailand to Pilot Cryptocurrency Payments in Phuket to Boost Tourism and Innovation In other Bitcoins news, Thailand is set to trial cryptocurrency payments in Phuket, one of its most popular tourist destinations, as part of a groundbreaking initiative aimed at offering foreign visitors an alternative payment method. The move, announced on Jan. 8 by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, signifies a step forward in integrating digital currency into Thailand’s tourism-driven economy. Speaking at a seminar organized by the Marketing Association of Thailand, Chunhavajira emphasized that the pilot program will operate entirely within Thailand’s existing legal framework, requiring no amendments to current laws. This assurance seeks to allay concerns about regulatory overreach while highlighting the government’s commitment to fostering innovation within the bounds of legality. The deputy prime minister said that the program aims to make digital transactions more accessible in “tourism-focused cities” and to remain competitive to avoid missing out on business opportunities. The program will require foreign tourists to register Bitcoin (BTC) through a Thai exchange and verify their identities before using the cryptocurrency for purchases. A clearinghouse will then convert BTC transactions into Thai baht, ensuring smooth operations for both vendors and buyers. The trial is expected to enhance the tourism experience by providing a convenient and modern payment method, especially for tech-savvy travelers. The program is part of Thailand’s broader strategy to leverage digital innovation to boost its critical tourism sector, which has been recovering steadily following the pandemic. To demonstrate the program's effectiveness, Pichai referenced the situation of refugees from the Russia-Ukraine conflict, who could utilize BTC to buy real estate in Thailand rather than encountering difficulties in acquiring Thai baht. Thailand’s experimentation with cryptocurrencies in Phuket aligns with previous calls by prominent figures to advance the country’s digital asset landscape. In December 2024, former Prime Minister Thaksin Shinawatra urged the Thai government to adopt a proactive approach toward studying cryptocurrencies. Speaking at a lecture, Shinawatra advocated for sandbox experimentation to explore the potential of digital assets without immediately committing to large-scale adoption. He also raised concerns about the possible impact of incoming US President Donald Trump’s administration, particularly regarding trade tariffs and Trump’s controversial suggestion to use Bitcoin for settling US debt. Regulatory Evolution in Thailand’s Crypto Sector The pilot program comes at a time of significant regulatory developments in Thailand’s cryptocurrency market. Binance Thailand CEO Nirun Fuwattananukul highlighted these changes in an October 2024 opinion piece, where he discussed the Securities and Exchange Commission's (SEC) move to expand fund investment opportunities in digital assets. According to Fuwattananukul, the proposed regulations are designed to create a “mature ecosystem where traditional finance and digital assets coexist.” The initiative, he noted, signals Thailand’s intent to move beyond merely legitimizing Bitcoin and toward fostering a dynamic and robust financial environment. The pilot program in Phuket is a strong indicator of Thailand’s ambition to position itself as a leader in digital finance and tourism innovation. By embracing cryptocurrencies, the country is taking a bold step toward attracting global tourists and investors who are increasingly comfortable with digital payments. If successful, the trial could pave the way for broader adoption of cryptocurrencies across Thailand’s other major tourist hubs, further solidifying the nation’s reputation as a forward-thinking destination. Moreover, it sets a precedent for other countries looking to integrate digital currencies into their economies without overhauling existing legal structures. Thailand’s move to pilot cryptocurrency payments in Phuket signals a progressive shift in its approach to digital finance and tourism. By leveraging Bitcoin’s global appeal, the initiative could enhance the country’s competitiveness, boost its tourism industry, and lay the groundwork for broader crypto adoption. As the pilot unfolds, it will be closely watched by both domestic stakeholders and the global cryptocurrency community, eager to see whether Thailand’s innovative gamble pays off.
On January 9, COINOTAG News reported that Japanese cryptocurrency exchange Coincheck is set to launch its new service named “Coincheck Staking” for Ethereum (ETH). This innovative platform will enable users
The decision to delay Eidenberg’s sentencing was made after requests for more time to address the complexity of the case. Meanwhile, Do Kwon faces a 2026 trial for fraud related to the Terra ecosystem collapse, with prosecutors seeking key evidence from his emails, devices, and trading records. Coinbase recently secured a partial legal victory with a court-approved appeal in its SEC case. FTX is still budding heads in the crypto space after it refuted claims by Backpack about acquiring its European arm. Avraham Eisenberg Sentencing Delayed Avraham “Avi” Eisenberg, who was convicted of fraud and market manipulation related to an exploit of the Mango Markets decentralized exchange, is set to be sentenced on April 10. This decision follows a Jan. 7 filing in the US District Court for the Southern District of New York (SDNY), where Judge Arun Subramanian granted a request from Eisenberg’s legal team to postpone the sentencing. Initially scheduled for Dec. 12 and later moved to Feb. 11, the delay was asked for due to the complexity of sentencing issues and the factual record of the case. The US prosecutor’s office did not object to the change. Eisenberg’s request to delay sentencing (Source: Courtlistener ) Eisenberg was arrested in December of 2022 after exploiting Mango Markets in October 2022 by draining over $100 million from the platform. While he returned approximately $67 million, he still kept more than $40 million after a governance vote by the community. Eisenberg has been in custody for nearly two years and could face up to 20 years in prison if sentenced to the maximum penalty, served consecutively. In addition to the criminal case, Eisenberg may also face civil enforcement actions from the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). These cases were stayed in March of 2023 and are expected to resume after the conclusion of his criminal proceedings. The SDNY prosecutors handling Eisenberg’s case have also pursued charges against other high-profile people in the crypto industry, including former FTX CEO Sam Bankman-Fried, Terraform Labs co-founder Do Kwon, and former Celsius CEO Alex Mashinsky. Kwon was recently extradited to the United States from Montenegro, and is scheduled to face trial in January 2026. Prosecutors Target Do Kwon’s Email and Social Media Prosecutors in the United States outlined their discovery plans in the criminal case against Do Kwon, including search warrants for his email and Twitter accounts. A Jan. 7 filing in the US District Court for the Southern District of New York revealed that prosecutors anticipate uncovering “multiple terabytes of data” relevant to their case. The discovery includes search warrants for Kwon’s personal and business email accounts, his Twitter account, and four of his electronic devices, as well as trading records and materials from crypto exchanges. Kwon faces nine felony charges in the US for alleged fraud tied to the collapse of the Terra ecosystem in 2022, and was extradited from Montenegro on Dec. 31 after a year-long process involving competing requests from the US and South Korea. Prosecutors also revealed that recordings of Kwon, made without his knowledge and not directed by the government, may be included in the evidence for discovery. Some of these recordings were used in a prior SEC civil case against Kwon and Terraform Labs, which found both parties liable for fraud. Charges against Kwon (Source: Courtlistener ) In March of 2023, US prosecutors initially charged Kwon with eight counts, but later added a ninth count of money laundering conspiracy in a sealed superseding indictment in 2024. The money laundering charge is very similar to the case against Sam Bankman-Fried, who faced issues with charges added after his extradition from the Bahamas. Anticipating similar challenges, US prosecutors in Kwon’s case plan to ask for a waiver from Montenegro’s rule of specialty, which could potentially complicate the inclusion of the ninth charge. Kwon’s trial is scheduled to begin on Jan. 26, 2026, and he faces a potential lengthy prison sentence if convicted. Coinbase Wins Appeal in SEC Case Meanwhile, Coinbase achieved a small victory in its legal battle with the SEC after a federal judge granted an order for an interlocutory appeal. Judge Katherine Failla of the US District Court for the Southern District of New York approved Coinbase’s request to appeal an earlier decision denying its motion for judgment. All proceedings in the case have been stayed until the Second Circuit rules on the appeal. At the heart of the SEC’s case against Coinbase is the claim that certain transactions involving crypto assets qualify as investment contracts and therefore fall under the SEC’s jurisdiction as securities. Judge Failla acknowledged the possibility of reversal in her interpretation of investment contracts under the Howey test, due to conflicting rulings in other SEC cases against Ripple Labs and Terraform Labs. These cases led to varying interpretations of what constitutes a security, including a decision in the Ripple case stating that XRP token sales on exchanges were not securities . The SEC filed its enforcement action against Coinbase in June of 2023, and alleged that the exchange operated as an unregistered securities exchange, broker, and clearing agency since 2019. However, the SEC’s approach when it comes to regulating the crypto industry has drawn a lot of criticism from many in the sector, including claims that it has overstepped its authority under Chair Gary Gensler. Coinbase’s chief legal officer, Paul Grewal , shared that he appreciates the court’s decision to grant the appeal. The company has also made it a priority to expose alleged government campaigns against crypto firms, like Operation Chokepoint 2.0, which targeted the debanking of crypto businesses. Coinbase has also been active in politics by contributing alongside Ripple to the political action committee Fairshake. This PAC spent over $90 million in the 2024 elections supporting pro-crypto candidates. FTX Denies Approval of Backpack’s FTX EU Acquisition Despite the sentencing of FTX founder Sam Bankman-Fried last year, the company still finds itself in trouble with the crypto industry. FTX recently refuted claims made by crypto exchange Backpack regarding its acquisition of FTX’s European arm, FTX EU. In a Jan. 8 statement, FTX clarified that the acquisition was not yet approved by the US Bankruptcy Court for the District of Delaware and that Backpack’s announcements were made without the knowledge or involvement of FTX. The bankrupt exchange also clarified that Backpack was not authorized to distribute repayments to FTX creditors. Backpack was founded by Solana developer Armani Ferrante, and it announced on Jan. 7 that it acquired FTX EU as part of a court-approved bankruptcy process and pledged to begin creditor repayments by February. However, FTX disputed these claims by stating that any indirect transfer of FTX EU to Backpack had not been disclosed to the bankruptcy court or approved. The company also pointed out that it remains solely responsible for returning funds to its former customers. The FTX debtors previously reached an agreement to sell FTX EU to “certain former insiders” of FTX Europe as part of a court-supervised settlement. FTX said it was informed of an indirect sale to Backpack only recently and that no official authorization was granted for Backpack to handle creditor repayments. Backpack plans to leverage FTX EU’s Markets in Financial Instruments Directive and Regulation (MiFID) II License to expand its European operations, but the company faced some challenges since its inception in 2022. The firm lost $14.5 million, or 88% of its operating funds, during FTX’s collapse but has continued limited operations with minimal funding. The exchange was initially funded by FTX and Jump Crypto. FTX’s reorganization plan took effect on Jan. 3, which allowed creditor repayments to start. Eligible customers, particularly those with claims under $50,000, will be part of an initial group to receive reimbursements within 60 days. Claims must be filed through the official website to qualify for repayment.
SPX6900, an Ethereum-powered cryptographic token, has experienced a steep 19% drop in value, tumbling to $1.30 just two…
Oklahoma’s push towards cryptocurrency adoption gains momentum with the introduction of the Bitcoin Freedom Act by Senator Dusty Deevers. The proposed legislation seeks to empower employees and vendors to utilize
The initiative will initially focus on tokenized deposits with the HKMA providing support for trials to local banks.
Imagine turning a small investment into life-changing profits, all by tapping into the explosive meme coin market. With analysts predicting a bullish cycle for meme coins, now’s the time to jump in. Meme coins have evolved beyond mere internet jokes; they are now serious players in the world of alternative investments, offering high returns and community-driven momentum. Meet BTFD Coin (BTFD), currently in Stage 13 of its presale for $0.000142. Known as the “Bulls Squad,” its passionate community is creating major buzz. With over $5 million raised and more than 63 billion BTFD coins sold, this project is set to redefine meme coin success. But that’s not all. We’ll also explore Bonk (BONK) and Pepe Coin (PEPE), established favourites that continue to dominate the meme coin frenzy. Let’s dive into why these are the top new meme coins to invest in this month. 1. BTFD Coin (BTFD) – The Dip-Lover’s Dream BTFD Coin embodies the “ Buy the Dip ” ethos, offering a unique blend of presale profits, play-to-earn (P2E) gaming, staking rewards, and community-driven power. It’s not just a coin; it’s a movement. At the heart of BTFD lies the dynamic Bulls Squad, a community of over 7,900 investors united by their passion for finding value where others see risk. The Bulls Squad embodies resilience, creativity, and teamwork, serving as the driving force behind BTFD’s success. With Baby Bull, Raging Bull, Nerdy Bull, and Peoples Bull leading the charge, this squad isn’t just a group—it’s a movement redefining what it means to invest in meme coins. The BTFD P2E game, launched on January 1, 2025, allows users to earn rewards while enjoying a fun and engaging experience. Unlike the beta version, which was just a teaser, the full version brings lucrative earning opportunities. Players can rack up in-game tokens and convert them to BTFD coins, enhancing their portfolios. Staking went live on December 2, offering a competitive 90% APY for investors. This makes holding BTFD a rewarding experience, turning passive holding into an active income stream. With a maximum coin supply of 173 billion and liquidity locked for three years, BTFD promises long-term stability. The presale is a goldmine for early investors. Starting at just $0.000004, the price has climbed to $0.000142 in Stage 13. At the end of the presale, the listing price will be $0.0006. Let’s break it down: if you invest $2,500 today, you’ll own 17,605,632 BTFD coins. When the price hits $0.0006, your investment will grow to $10,563—a remarkable 322% ROI. How to Join the BTFD Presale: Go to the BTFD Presale Page. Click “Connect Wallet” and select your wallet (e.g., MetaMask, Trust Wallet). Input the amount of BTFD coins you want to buy. Click “Buy Now” and confirm the transaction in your wallet. BTFD’s Referral Programme adds another layer of earning potential. Share your referral code and earn 10% of the raised amount in BTFD tokens. It’s a win-win for everyone involved in the top new meme coins to invest in this month. Why is BTFD Coin the Star of This List? BTFD combines innovation with community power, offering everything from high staking rewards to a rewarding gaming experience. It’s a no-brainer for anyone looking to capitalise on the meme coin craze. 2. Bonk (BONK): The Community-Driven Powerhouse Bonk is a community-first meme coin that has captured the hearts of crypto enthusiasts worldwide. Known for its decentralised ethos, BONK thrives on its ability to rally people together, creating a vibrant and active community. One of Bonk’s standout features is its utility within the Solana ecosystem. It’s often used to reward community initiatives, adding a layer of utility that many meme coins lack. From NFT minting to liquidity provision, Bonk’s integration across Solana has cemented its position as a go-to alternative investment. Why Does Bonk Deserve a Spot on This List? Bonk’s unique blend of community power and utility within the Solana ecosystem makes it more than just a meme coin. It’s a symbol of what decentralised communities can achieve. 3. Pepe Coin (PEPE): A Legendary Meme Icon Pepe Coin pays homage to the internet’s beloved frog meme, but it’s much more than a nostalgic nod. With its deflationary model and strong community backing, PEPE has proven itself as a serious player in the meme coin market. What sets PEPE apart is its strategic tokenomics. The coin’s supply decreases over time through regular burns, ensuring scarcity and driving demand. Additionally, its liquidity pools and staking mechanisms make it an attractive choice among the top new meme coins to invest in this month. Why is Pepe Coin a Must-Have? Pepe Coin’s ability to blend humour with strategic financial incentives makes it a standout in the crowded meme coin space. It’s a perfect mix of fun and function. Final Thoughts: The Right Time is Now The meme coin market is hotter than ever, offering unparalleled opportunities for those willing to take the plunge. BTFD Coin reigns supreme with its innovative P2E game, high staking rewards, and thriving presale—truly a top new meme coin to invest in this month. Meanwhile, Bonk and Pepe Coin continue to shine as established favourites, each bringing unique value to the table. Time is of the essence. Don’t let this wave pass you by. Join the BTFD Coin presale right now and secure your position in the next big crypto success story. The future of meme coins is here, and it’s yours for the taking! Find Out More: Website: https://www.btfd.io/ X/Twitter: https://x.com/BTFD_COIN Telegram: https://t.me/btfd_coin Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here .
The post SEC’s Gensler Says Most Crypto Projects Are Doomed as Ripple Appeal Deadline Nears appeared first on Coinpedia Fintech News Gary Gensler, the outgoing chair of the Securities and Exchange Commission, shared his thoughts on regulating the fast-growing crypto market. While he acknowledged that crypto is still a small part of the overall financial markets, he said that it’s full of bad actors and scams. Under his leadership, the SEC has filed about 100 enforcement actions in the past four years, compared to his predecessor Jay Clayton’s 80. Gensler believes that the crypto market is still struggling with fraud, with many projects acting like risky investments that may not survive. In an interview with Bloomberg , Gensler said, “In this field, it’s rife with bad actors.” He then broke down the crypto market into two parts, saying, “The public knows a lot about Bitcoin, which, depending on its market value, is two-thirds to 80% of the market value of crypto.” Gensler pointed out that there are “10,000 to 15,000 projects raising money from the public.” Many of these projects, he believes, are simply speculative investments, “hoping for a better future.” He explained, “I’ve been around finance for over four decades, and everything in the markets trades on a mixture of fundamentals and sentiment.” However, he added, “At any given time, I’ve never seen a field that’s so much wrapped up in sentiment and not so much about fundamentals.” Gensler Says Crypto Projects ‘Won’t Survive’ He also warned, “Many of these 10,000 to 15,000 projects will not survive. They’re like venture capital investments. They’re not going to survive.” Gensler pointed to the existence of “small pump and dump schemes” that have caused problems in the industry. Reflecting on past events, he said, “We’ve lived through a few years where they became notorious, but they’re in jail now.” Despite the growing number of enforcement actions, Gensler thinks that the crypto market is still not complying with the rules. He sees his role as ensuring that the market works without fraud, manipulation, and misinformation. Gensler is set to resign on January 20 and Paul Atkins will serve as the SEC Chair next.
Could Bitcoin rival gold in global reserves? The Czech Republic is considering a move for Bitcoin reserves, alongside tax reforms favoring crypto investments. Global momentum grows for Bitcoin as a
BNB price is consolidating above the $675 support zone. The price is consolidating and might aim for a fresh increase above the $700 resistance. BNB price is struggling to settle above the $700 pivot zone. The price is now trading below $700 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $695 on the hourly chart of the BNB/USD pair (data source from Binance). The pair must stay above the $680 level to start another increase in the near term. BNB Price Holds Support After a downside correction, BNB price found support at $675. It is now recovering losses like Ethereum and Bitcoin . There was a move above the $685 level. The price was able to recover above the 23.6% Fib retracement level of the downward move from the $745 swing high to the $674 low. There was also a break above a connecting bearish trend line with resistance at $695 on the hourly chart of the BNB/USD pair. The price is now trading below $700 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $700 level. The next resistance sits near the $710 level or the 50% Fib retracement level of the downward move from the $745 swing high to the $674 low. A clear move above the $710 zone could send the price higher. In the stated case, BNB price could test $725. A close above the $725 resistance might set the pace for a larger move toward the $740 resistance. Any more gains might call for a test of the $750 level in the near term. Another Dip? If BNB fails to clear the $710 resistance, it could start another decline. Initial support on the downside is near the $685 level. The next major support is near the $675 level. The main support sits at $650. If there is a downside break below the $650 support, the price could drop toward the $642 support. Any more losses could initiate a larger decline toward the $625 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $685 and $675. Major Resistance Levels – $700 and $710.