Crypto industry lobbies for U.S. Bitcoin reserve approval under Trump. Continue Reading: Trump’s Administration Aims to Establish Bitcoin Reserves in the U.S. The post Trump’s Administration Aims to Establish Bitcoin Reserves in the U.S. appeared first on COINTURK NEWS .
The U.S. is taking big steps to include cryptocurrency and financial technology in its official plans. Key leaders like Congressman Bryan Steil, who now heads the Financial Services Subcommittee on Digital Assets, and Senator Tim Scott, are leading the Senate’s first crypto-focused subcommittee. Senator Cynthia Lummis, a strong supporter of Bitcoin, is also set to play a major role. These moves show the U.S. is serious about becoming a global leader in the digital economy while working on clear rules and encouraging innovation. The U.S. government has made efforts to fully implement cryptocurrency and financial technology in the official framework of the government. Crypto takes center stage in U.S. policy The latest examples include Congressman Bryan Steil, who has been selected as the chairman of the Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. The scope of work includes digital assets, such as Bitcoin, new types of financial technology, and expanding use of artificial intelligence in the financial sector. Senator Tim Scott will be the first leader of a dedicated subcommittee to cryptocurrencies in the Senate, and Senator Cynthia Lummis, a bitcoin advocate, will lead the same. Congressman Andy Barr (KY-06) has been reappointed as Chairman of the Financial Institutions Subcommittee for the 119th Congress. He will oversee financial regulators to ensure balanced rules that support small businesses, expand consumer access to financial services, and promote economic growth. “I am honored to continue serving as Chairman of the Financial Institutions Subcommittee,” said Congressman Barr. “ His leadership focuses on transparency, credit access, and ensuring U.S. financial institutions thrive in a competitive global landscape. The Senate Banking Committee, led by Senator Tim Scott, is creating its first subcommittee focused on cryptocurrency. This is similar to the effort by Patrick McHenry in 2023 with the Financial Services Committee, showing how important crypto has become in U.S. policymaking. Senator Cynthia Lummis, a strong supporter of Bitcoin, has been picked to lead the subcommittee, though her role will need a final vote next week. The committee will also decide on other members at the same time, alongside the nomination hearing for Scott Turner, Trump’s pick for HUD secretary. Digital Asset Economy The U.S. is now approaching cryptocurrency. Two years ago, discussions surrounding crypto were negligible, and governmental interest was minimal to nothing except in very broken pieces of legislation. Now, it is reflected in official meetings, new subcommittees, and leadership appointments, signaling an effort to be taken seriously by making the U.S. a global leader in the digital asset space. This is a period when other countries are also considering frameworks for crypto governance, and it is imperative that the U.S. stays ahead of them. Under the guidance of the new SEC chair and with Senator Lummis, the United States is looking forward to creating an open regulatory space for Bitcoin and other digital assets. It protects the consumers, encourages innovation, and helps the country to maintain its place in the global arena in the monetary financial space. Regulation along with a reserve in Bitcoin will allow the United States to step up to the challenge of being the pioneer for the future of money. However, the public has been somewhat divided about this approach. Some consider it is long overdue and actually puts weight to including digital assets within the economy. It could improve innovation for many while ushering the way toward a possible trusting attitude in the industry.. Some, however, point to issues, such as market volatility, and even consider proposals like that of Lummis’s Bitcoin reserve. However, bottom line, these actions bring much-needed order and stability to the industry on the whole. As Trump’s inauguration approaching, his support for Bitcoin is still ruling the market. He has promised to create a national Bitcoin reserve, with proposals already in Congress and backing from states like Texas and Ohio. This could be a big step forward for crypto in the U.S. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Victoria, Seychelles, January 9th, 2025, Chainwire Bitget , the leading cryptocurrency exchange and Web3 platform, is excited to announce that U2U Network (U2U) will be listed on Bitget PoolX. The locking period for this activity runs from January 9, 2025, at 8:00 (UTC), to January 12, 2025, at 8:00 (UTC) , with a total airdrop pool of 12,631,000 U2U available for distribution. U2U Network is a modular Layer1 blockchain leveraging DAG technology and EVM compatibility to deliver high performance, scalability, and security. Its innovative Subnet technology enables the creation of customizable, independent sub-networks, providing unparalleled scalability and flexibility, particularly for DePIN applications. As part of the launch, Bitget PoolX is introducing an exclusive opportunity for users to participate in a BTC locking pool to earn U2U airdrops. Participants can lock their BTC during the promotion to receive U2U airdrops. The allocation is calculated based on the user’s locked BTC relative to the total locked BTC of all eligible participants. The maximum BTC locking limit for this activity is 1 BTC, while the minimum is 0.0001 BTC. Bitget's PoolX offers a unique opportunity for users to stake specific tokens and participate in the growing ecosystem by earning more tokens through the airdrop initiative. The listing of U2U to PoolX aligns with Bitget’s commitment to providing users with access to standout projects that resonate with market trends and evolving community interests. For more details on the PoolX promotion, please visit here. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA , in EASTERN, SEA, and LATAM markets, as well as a global partner of the Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@bitget.com Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to their Terms of Use . Contact Public Relations Media Bitget media@bitget.com
The world’s largest crypto exchange by trading volume is adding support for the recent migration of a popular blockchain game. According to a new announcement from Binance, the exchange will kick off trading services for the Mines of Dalarnia’s transition to Dar Open Network (D) starting tomorrow. “Fellow Binancians, Binance is excited to announce that Dar Open Network (D) will be added to Binance Simple Earn, ‘Buy Crypto’, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures at the respective dates and timings listed below… D Flexible Products will be listed on Binance Simple Earn at 2025-01-09 08:00 (UTC) and will be available for subscription. From 2025-01-10 10:00 (UTC), users may purchase D using any of the payment options supported on Binance Auto-Invest.” According to Dar Open Network, crypto exchanges began swapping DAR for D three days ago. “All exchanges have stopped $DAR token trading as of today to facilitate the migration to $D tokens. Exchanges including Binance, BitGet, Gate_io, CryptoCommand, and KuCoin will reopen D token trading on January 9th at 08:00 (UTC). Please review your exchange’s announcements for key details regarding balance recovery and token pair reopening.” According to Dar Open Network, Mines of Dalarnia’s growth into Dar Open Network represents the growth of the scope of the blockchain. “The transition from Mines of Dalarnia to the Dar Open Network represents a significant milestone for the project. Over the past year, Dar Open Network has expanded beyond its initial game-focused roots to become a comprehensive Web3 ecosystem. This evolution calls for a reimagining of its foundational elements, including the token that powers the platform.” D is worth $0.1899 at time of writing, up 7.3% on the day. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Binance Adds Support for Mines of Dalarnia Rebrand Dar Open Network (D) appeared first on The Daily Hodl .
Recent declines in Bitcoin’s price have been followed by negative sentiment across several on-chain metrics that are crucial in determining its next trajectory. With key metrics witnessing a decrease, there are speculations that the flagship asset might see an extended drop in its price. Market Sentiment Shifting As Bitcoin Funding Rates Drops As the market undergoes heightened volatility, ShayanBTC, an on-chain expert at the data analytics platform CryptoQuant, has revealed a worrying shift in Bitcoin’s market dynamics. ShayanBTC reported that Bitcoin’s funding rates have decreased drastically in the past few days, suggesting waning confidence in the asset. Typically, rising funding rates, which indicate strong demand in the futures market , are frequently necessary for any market price spike to be sustained. Meanwhile, a sharp drop in funding rates points to less bullish leverage in the derivatives market, which may reflect traders’ cautious attitude in the wake of recent price changes. Simply put, the development highlights waning demand in the derivatives market. In the absence of this rise, upward tendencies might stall. Although this increase does not always have to happen immediately, its absence during a rally raises questions about the strength of the market. According to the expert, midway through the upward trend in the recent Bitcoin rally, Funding Rates exhibited a strong increase, indicating a delayed influx of demand. However, the funding rates dropped immensely, coinciding with BTC’s rejection from the $108,000 resistance level. This decline in funding rates implies a decrease in traders’ commitment to the derivatives market or capital inflow. It also suggests weak bullish momentum as there is inadequate support to maintain BTC’s upward trajectory. Furthermore, the current state of funding Rates reflects the hesitancy of the general market, especially following the rejection at the $108,000 price level. Should Bitcoin fail to hold above the $90,000 mark, the expert has pointed out two potential scenarios that could occur in the following days. One of the outcomes is increased selling pressure caused by a decline in investors’ confidence. Failure to hold above $90,000 may also result in deeper corrections , possibly testing lower Fibonacci levels and psychological thresholds. On the other hand, if funding rates rise in tandem with robust purchasing activity, Bitcoin may stabilize and start to rise again. A resurgence in this metric will highlight renewed bullish sentiment among market participants. Unrealized Profit Margin On The Low Another metric that has declined amid waning price performances is the Bitcoin On-chain Trader Realized Price and Profit/Loss Margin. Data from CryptoQuant head of research Julio Moreno shows that the traders’ unrealized profit margins on-chain have fallen significantly as BTC faces corrections. The drop, according to Moreno, is healthy after a notable rally that sent BTC above $100,000. In the meantime, the traders’ realized price, which serves as a support in bull markets, is at $88,000, compared to a price of $93,000.
Ethereum has seen a sharp 14% drop in less than two days, intensifying concerns across the crypto market during a selloff that began earlier this week. The bearish sentiment has left many investors disheartened, with Ethereum struggling to reclaim higher price levels. Frustrated by the consistent underperformance, some investors are beginning to lose faith in the altcoin giant, seeking opportunities elsewhere. Related Reading: Expert Sets $1 Target For Dogecoin Once It Breaks A Multi-Year Trend – Details Despite the negative sentiment, top analyst Ali Martinez has shared an optimistic outlook for Ethereum. Martinez’s analysis suggests that a downswing to the $2,900 level could present a highly favorable “buy-the-dip” scenario for long-term investors. According to Martinez, this potential decline would lay the groundwork for Ethereum to target significantly higher levels, with a bullish price goal of $7,000 in the coming cycle. The current market conditions have sparked uncertainty, but many experts believe the upcoming months will prove pivotal for Ethereum. As the altcoin leader grapples with its recent declines, investors and traders alike are closely watching key support levels to assess whether ETH can rebound from this downturn. With Martinez’s bullish target on the horizon, could this dip pave the way for Ethereum’s next big rally? A Rocky Start in 2025: Optimism Remains Ethereum has faced a tough journey through 2024, with lackluster performance trailing behind Bitcoin’s dominance. The new year hasn’t offered much reprieve, as Ethereum started 2025 with additional declines, leaving many investors frustrated. While Bitcoin continues to command attention, fueling what some are dubbing a “Bitcoin cycle,” altcoins, including Ethereum, have struggled to gain momentum. However, not all hope is lost. Top analyst Ali Martinez recently shared a more optimistic perspective on X, suggesting that Ethereum’s current price action might be setting the stage for significant future gains. Martinez’s analysis points to a potential downswing to $2,900 as a highly bullish opportunity for Ethereum. He emphasized that this level would represent an ideal “buy-the-dip” scenario, potentially setting the stage for Ethereum to target a remarkable $7,000 in the next cycle. According to Martinez, the ongoing bearish price suppression is a natural part of the market cycle. Once this phase ends, Ethereum could be primed for a substantial rally. However, for this bullish narrative to materialize, Ethereum must first reclaim key demand levels to reignite investor confidence and build momentum. Related Reading: Solana Must Reclaim Momentum In The Coming Weeks – SOL/BTC Ratio At A Pivotal Point As Ethereum navigates these turbulent times, analysts and traders are keeping a close watch on critical support levels, waiting to see if this dip truly becomes a launchpad for Ethereum’s next major move. Ethereum Price Holds Key Support Amid Bearish Pressure Ethereum is trading at $3,300 after enduring a sharp sell-off that drove the price down to $3,206, creating a sense of fear and uncertainty in the market. Despite the aggressive downturn, Ethereum’s price action is showing resilience, setting a higher low on the daily time frame. This subtle shift in structure offers hope for a potential recovery, signaling that demand might be quietly building. For Ethereum to regain its bullish momentum, bulls need to reclaim the $3,900 level promptly. This critical zone acts as a gateway to reestablishing a strong upward trend and boosting market confidence. However, the path to recovery may take time as Ethereum stabilizes and recovers from its recent bearish phase. Related Reading: Bitcoin Is Forming A Symmetrical Triangle – Breakout Or Breakdown? While the market sentiment remains cautious, Ethereum’s ability to hold above key support levels suggests that a swift surge could follow if demand rises. Investors and analysts are closely watching these levels, waiting for a breakout that could mark the beginning of a new bullish cycle. For now, patience is key as Ethereum navigates its way through this challenging phase, aiming to position itself for stronger price action in the weeks ahead. Featured image from Dall-E, chart from TradingView
Coinbase, one of the largest cryptocurrency exchanges in the United States, has been served a subpoena by the Commodity Futures Trading Commission (CFTC) requesting customer data related to its Polymarket prediction market, according to a source with knowledge of the matter. The subpoena, unsealed today, seeks “public customer information” tied to Polymarket, a blockchain-based prediction platform that has been gaining traction ahead of the November election. A screenshot of an email sent from Coinbase to specific users regarding the CFTC request was shared on X (formerly Twitter) by Eric Conner, founder of Ethereum information site ETHHub. The email advised users that Coinbase “may be required to submit information” to the CFTC due to upcoming regulatory procedures. Conner declined to comment on whether he personally uses Polymarket’s platform. A source confirmed that the CFTC subpoena is real and is linked to Polymarket, a platform that launched in 2020 and allows users to make predictions on the outcome of events ranging from sports to politics. Polymarket rose to fame with its predictions for Donald Trump’s reelection campaign. Related News: Experienced Analyst Says He Targets $ 10 For XRP, $ 7,000 For Ethereum - Here Are His Opinions This isn’t Polymarket’s first brush with regulators. The CFTC filed a sanctions lawsuit against the platform for failing to register its services in 2022. The case resulted in a $1.4 million fine, and the platform subsequently blocked US citizens from accessing its services. Polymarket scrutiny intensified after Trump’s victory, when the FBI raided the New York apartment of CEO Shayne Coplan. At the time, Polymarket spokespeople claimed the raid was “political retribution.” Bloomberg News later reported that the Justice Department was investigating. In response to the subpoena, Coinbase stated its commitment to protecting user data while complying with legal requirements. “Requests for information from a government are carefully reviewed by a team of trained experts,” a Coinbase spokesperson said. “In some cases, if a request is legally insufficient, the firm will object to producing information or attempt to narrow the request. However, in some cases, we may be required by law to share necessary data that is lawfully requested by a government.” *This is not investment advice. Continue Reading: CFTC Sends Subpoena to Cryptocurrency Exchange Coinbase – Here’s Why
Blockchain-based predictions platform Polymarket has been criticized for allowing users to bet on the Palisades wildfire in California. The wildfire, which has forced nearly 200,000 to evacuate, killed five people, and covered almost 30,000 acres, has become a subject of gambling on Polymarkets. A quick search on the platform shows that there are currently nine bets relating to the fire, all with varying interests. Two bets – “How many acres will Palisades wildfire burn by Friday?” and “Will Palisades wildfire spread to Santa Monica by Sunday?” have over $90,000 in volume each. Other bets on the subject also had volumes varying from $53,000 to as low as $8,000. Despite the clear interest in some quarters, many believe the bets are in bad taste and that an environmental disaster should not be turned into a gambling opportunity. Users on X questioned the reasoning behind such a bet, with one user describing it as immoral for anyone to bet on the spread of fire. Perhaps what is even generating criticism is that Polymarket seems to have no scruples about these bets. It has been posting about them on its social media pages, a move seen as more publicity for the bets. Some users also believe such bets could even incentivize someone to start a fire in Santa Monica and are calling for Polymarket to be banned. Writer and podcaster Tyler Harper noted that everything has been turned into a wager opportunity, which is evil and depraved. He posted: “The gamblification of everything is Evil in fullest sense of the word. Capital-E Evil.” Meanwhile, some users consider those gambling on the Wildfire markets to be sick, with one person noting it is a sign of addiction and such people should check into rehab. Polymarket defends wildfire markets Despite criticisms about creating bets based on natural disasters, the platform has insisted that the predictions serve those who want unbiased and accurate information. Each bet on the Palisades wildfire contains a note stating that the predictions market only harnesses market wisdom to create unbiased forecasts. The note reads: “The promise of prediction markets is to harness the wisdom of the crowd to create accurate, unbiased forecasts for the most important events impacting society. The devastating Pacific Palisades fire is one such event.” It added that users can get real-time and accurate information about such events from Polymarket in ways they cannot from traditional media. The platform noted that it does not charge any fees on the market. Although some, including business and tech reporter Thomas Maxwell, have called for Polymarket to be shut down, that is unlikely to happen as the platform does not even operate in the US. Politics, sports, and economics driving Polymarket volume Nevertheless, the predictions platform is not new to controversy. Since gaining popularity for correctly predicting the US presidential election in 2024, Polymarket has been at the center of a few controversies over market manipulation, with the FBI even raiding the home of its founder as part of an investigation. Its latest controversy occurred a few weeks ago after some bettors alleged market manipulation over a bet on whether Israel will invade Syria in 2024. The oracle provider for the bet, UMA, failed to settle the market in favor of those who picked YES, as UMA voters voted against the settlement on two occasions. This led many to claim that it’s the major UMA token holders, i.e., the UMA whales, who are delaying the resolution for their advantage. Meanwhile, Polymarket continued to thrive even after the election and has become one of the leading prediction platforms, with almost every issue open to wager in its markets. Although most of the wagers focus on sports events and political/economic news, users continue to bet on a wide range of topics. One bet about how many times Elon Musk would tweet within a week currently has $1 million in volume. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
A British IT worker, James Howells is pursuing a long-lost fortune wrapped in Bitcoin (BTC). He has hit a decisive legal dead end. A UK High Court judge recently dismissed his attempt to sue Newport City Council for access to a landfill. Howells claimed a hard drive containing £600 million, equivalent to $739 million in Bitcoin, is buried there. The decision marks a dramatic setback in Howells’ years-long effort to reclaim the lost fortune. James Howells’ Costly Mistake In 2013, James Howells, an early Bitcoin adopter, unknowingly lost access to what could have been one of the most valuable digital wallets in the world. His ex-partner accidentally threw away the hard drive, which he believed contained over 7,500 Bitcoin units. Bitcoin was worth nothing back then, but its explosive rise in value has turned it into a multi-billion-dollar fortune. Determined to recover his lost fortune, James Howells has spent years appealing to Newport City Council. He believes the hard drive containing his appreciated BTC fortune is buried in a South Wales landfill. Despite his efforts, the council has repeatedly denied him access to search the site. Howell Faces Legal and Environmental Hurdles Newport City Council stood firm, arguing that the hard drive became its property upon entering the landfill. The Council also cited environmental regulations prohibiting the excavation of waste from the site, which holds over 1.4 million tonnes of waste. Howells mentioned that he had narrowed his search area to 100,000 tonnes. He even offered the council a share of the asset if recovered. At a December hearing, Howells’ team presented their case, but Judge Keyser KC found the legal arguments unconvincing. The judge ruled that the case lacked reasonable grounds and had no realistic prospect of success. A Lost Fortune, but a Gift to the Bitcoin Community Judge Keyser’s decision has ended Howells’ legal fight for now, and the Bitcoin fortune he hoped to recover is still lost. The hard drive, buried in a landfill, will likely never be found. Even though Howells’ efforts failed, the value of his lost Bitcoin shows how much cryptocurrency has grown. Digital assets are changing the world economy, and Fidelity predicts Bitcoin is poised to be part of national reserves by 2025 . This shows how crypto assets are becoming more important in traditional finance. The post UK Court Rejects James Howells’ Bid to Dig Up £600M Bitcoin from Landfill appeared first on TheCoinrise.com .
XRP’s market structure reveals promising signs as the altcoin positions itself for potential new all-time highs amidst a broader market correction. Despite a recent market sell-off, XRP maintains approximately 300%