Category: Web3

Solana Eyes $300 as Bitcoin Rallies to $100K

Solana surges with a similar momentum seen by Bitcoin to shake off several losses it incurred in the market last week. Specifically, SOL lost momentarily to the $169 level a few hours this week before moving up above $180 within hours of trading. Solana changes hands at approximately $215, changing hands 15% in the last 24 hours and up about 27% from its weekly lows, according to CoinMarketCap.

On January 13, SOL’s price dropped over 11%, mirroring Bitcoin’s volatile movements, and briefly fell below the key $170 support level. However, the swift recovery signals renewed bullish momentum in the market.

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With Bitcoin reclaiming $100,000 after dipping below $90,000 earlier this month, analysts are optimistic about the crypto market’s trajectory. SOL’s all-time high (ATH) of $263.83, achieved in November 2024 when Bitcoin first crossed $90,000, is back in focus.

If the bullish feeling continues, inflows of new capital could see SOL reach for a new ATH well beyond $300. This type of growth can be supported by growing investors’ appetites and high expectations of key regulatory and institutional changes by the upcoming Trump administration, considered crypto-friendly.

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For the time being, all eyes are on Bitcoin’s momentum and how that will contour up the altcoin market.

World Liberty Financial Transfers $61.4M in Ethereum

Crypto project World Liberty Financial, which has connections with President-elect Donald Trump, has moved approximately $61.4 mln worth of Ethereum within the last 24 hours, says Arkham Intelligence in a tweet. The cash moved between different wallets, one of which is Coinbase Prime.

“These are regular movements of our crypto holdings for treasury management, covering fees, expenses, and working capital needs,” explained WLFI in an X post. It said no tokens were sold during those transactions, referring to the action as standard practice.

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Data on the blockchain shows more transactions, which include the transfer of 103 WBTC for 3,075 ETH, valued at $10 million; the transfer of another $59.8 million in Ethereum to Coinbase Prime and other wallets. WLFI also spent $1.7 million in Tether (USDT) to buy 17.62 WBTC at an average price of $96,490.

WLFI’s wallet, once holding $83 million in mid-December, now has a balance of $17 million. Despite this drop, WLFI maintains a long-term investment strategy, with $4.8 million in unrealized losses due to market fluctuations in assets like Ethereum, WBTC, Aave (AAVE), and Chainlink (LINK).

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In parallel, WLFI has partnered with Ethena Labs to integrate the sUSDe stablecoin into Aave, showcasing its efforts to expand its ecosystem despite the volatility.

Arkansas Proposes Ban on Crypto Mining Near Military Bases

The lawmakers of Arkansas have filed Senate Bill 60, which prohibits the setup of cryptocurrency mining operations within 30 miles of any U.S. military facility in the state. Co-sponsored by Senator Ricky Hill and House Speaker Brian Evans, the bill is presented as an amendment to the Arkansas Data Centers Act of 2023, on matters touching on national security and noise pollution.

The bill targets a crypto mining operation near Cabot that is just five miles away from the Little Rock Air Force Base. This comes weeks after a similar 2024 federal order brought to a halt the operations of a China-linked mining firm that was operating near a military facility in Wyoming.

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Cabot Mayor Ken Kincade and Lonoke County officials don’t want the local mine because of concerns about noise and security. However, that is not the opinion of Dustin Curtis, the vice president of Interstate, behind the project. He said the mine is in compliance with all federal and state regulations, and it generates less noise than that on highways nearby.

Crypto mining operations have been under fire nationwide. For instance, last July, US Senator Elizabeth Warren expressed concern that foreign-owned crypto mines were operating on American soil.

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The proposed bill will now go to committee and may position Arkansas as the only state that will impose restrictions. A very intense debate between innovation and security presses on.

Trump Inauguration Sparks Crypto Volatility Warnings

With the inauguration of Donald Trump mere days away, crypto investors are being warned to expect sharp price swings. Analysts at Singapore-based QCP Capital say they expect “heightened volatility” in the crypto market both in the lead-up to, and following the Jan. 20 ceremony. They liken current market jitters to turbulence seen during the first term of Trump in 2017.

Inflation in the U.S. economy remains a concern. Whereas job growth has been strong-non-farm payrolls were up 256,000 against an expected 165,000-inflation fears have lingered.The consensus for December is for a hotter CPI number than previous readings; something that will keep markets on their toes.

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At the same time, this uncertainty is heightened by the prospect of proposed tariffs on China by Trump, which might also add inflation. Again, these might be introduced piecemeal, not all at once. Also improving bond yields are shifting the market’s expectations, pricing in fewer rate cuts in 2025 and 2026.

Expect higher volatility in the lead-up to and after the inauguration as markets chew and adjust to a new Trump term,” warned QCP Capital.

There is, however, a silver lining: rumors of the Trump administration packed with crypto-friendly officials and, of course, whispers of executive orders that give digital assets relief. This might relieve the market temporarily.

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Still, caution prevails. Bitcoin has repeatedly tested the $90,000 mark, and with rising bond yields, the coming weeks could be anything but predictable for crypto investors.

Dubai Plans 17-Story Crypto Tower to Boost Web3 Innovation

In yet another leap into the future, a 17-story Crypto Tower is to be constructed in Jumeirah Lakes Towers, Dubai. This ultra-modern building, by DMCC and REIT Development, will house the innovation of blockchain, DeFi, and AI.

Measuring at 150,000 square feet, Crypto Tower is reportedly set to host offices of crypto startups, blockchain firms, and even AI innovators. It comprises nine floors housing offices, three of blockchain incubators and venture capital firms, and one special hub of AI innovation tstered by Chatoshi.ai.

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What really sets this tower apart, however, is the inclusion of blockchain-powered tenant services, ranging from on-chain voting to smart contracts; the building will make use of advanced tech to bring in more transparency and efficiency.

Other highlights include a 10,000-square-foot event space, an NFT art gallery, a gold bullion shop, and a swanky three-floor crypto club. Secure vault storage will also be made available for high-value assets.

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Set for completion by early 2027, the Crypto Tower reflects Dubai’s commitment to becoming a global leader in Web3 innovation. Ahmed Bin Sulayem, CEO of DMCC, stated, “This tower embodies our vision for the future of Web3 and strengthens Dubai’s position as a world-class innovation hub.”

Court Sides with Coinbase in SEC Crypto Regulation Dispute

Coinbase scored a major legal victory yesterday in its ongoing fight with the U.S. Securities and Exchange Commission over crypto regulations. The U.S. Court of Appeals for the Third Circuit sided with Coinbase, rebuking the SEC’s denial of Coinbase’s request for clear digital asset rules as “arbitrary and capricious.”.

It was a part of the increasing list of court losses that the agency has faced regarding crypto-related cases, ordering the SEC to give a more detailed explanation for its denial. Coinbase initially sought guidance from the regulator in 2022, requesting clarification on when digital assets were considered securities—a fundamental question for the crypto industry.

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In 2023, the SEC rejected Coinbase’s petition on the basis of no need for specific rules. However, the court disagreed, labeling the SEC’s reasoning as insufficient and lacking detail. Judge Thomas Ambro called the SEC’s response “conclusory,” while SEC Judge Stephanos Bibas warned that the agency’s approach of strict enforcement without clear guidelines could harm the entire crypto sector.

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Although the ruling does not force the SEC to write new rules, it does force the agency to be more specific. Coinbase’s Chief Legal Officer, Paul Grewal, hailed the decision as a move toward ending the regulatory uncertainty that has dogged the crypto industry.

BlackRock Unveils Bitcoin ETF for Canadian Investors

BlackRock has introduced the iShares Bitcoin ETF in Canada and is now available to trade on Cboe Canada. The fund will be listed under the ticker IBIT for CAD and IBIT.U for USD, which provides an easy and regulated manner in which Canadians can invest in Bitcoin.

The fund employs a “fund-of-funds” approach by holding shares of the U.S.-listed iShares Bitcoin Trust ETF, which physically holds Bitcoin. Coinbase Prime, a trusted digital asset custodian, provides the ETF with secure and cutting-edge technology to manage Bitcoin holdings safely.

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As such, Helen Hayes, Head of iShares Canada at BlackRock, said, “The iShares Bitcoin ETF provides a cost-effective way for Canadian investors to gain exposure to Bitcoin without the complexities of direct ownership.”

Trading on Cboe Canada, which handles about 15% of securities traded on Canadian exchanges, is also in keeping with the exchange’s reputation for introducing innovative financial products.

As of January 10, 2025, the ETF has net assets of approximately $701,338 with 25,000 outstanding units. The management fee is 0.32%.

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In short, by offering the Bitcoin ETF, BlackRock commits itself to make it easier and more convenient for resident Canadians to invest in Bitcoin, thus further fortifying its commitment to leading financial innovation.

Uniswap and Ledger Partner for Seamless DeFi Swaps in Ledger Live

Uniswap Labs and Ledger have joined forces to make token swaps simpler and safer. With their latest integration, users can now trade directly on Uniswap without leaving the Ledger Live app, ensuring their assets remain protected by Ledger’s hardware wallets.

The integration is powered through the Uniswap Trading API, which grants access to the functionality of the Uniswap decentralized exchange from within Ledger Live. “Our mission is to unlock value through universal exchange,” said Mary-Catherine Lader, COO of Uniswap Labs. “Partnering with Ledger allows us to create a smoother, safer experience for self-custody users.

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The key aspect of this integration is the “clear signing.” It simply means that users will see and understand the details of their transactions in plain language before they actually sign, adding in an extra layer of security. In the words of Ian Rogers, Chief Experience Officer at Ledger: “Clear signing is the only secure way users should be authorizing transactions.”

For one, the integration allows Ethereum-based token swaps, such as exchanging ETH for stablecoins directly within Ledger Live.

Ledger, which has sold over 7 million devices worldwide and secures more than 20% of global crypto assets, sees this as a big step forward. Ian Rogers summed it up: “Ledger Live lets you earn yield, buy, send, and now swap your digital assets with Uniswap – all while staying secure.”

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This partnership highlights a growing focus on combining simplicity with security for DeFi users.

North Korean Hackers Stole $659 Million in Crypto Last Year

In a rare joint statement, South Korea, the U.S., and Japan blamed North Korean hackers for stealing a record $659 million in cryptocurrency previous year. The stolen funds are believed to be going toward North Korea’s illegal weapons programs.

This marks the first time any three nations have blamed North Korea and that also directly for such insane large scale crypto robbery. Among the major targets were India’s WazirX exchange, losing $235 million, and Radiant Capital, which suffered a $50 million hack. An additional $374 million was stolen from platforms like DMM Bitcoin, Upbit, and Rain Management, according to industry reports.

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Hacking groups like Lazarus, linked to North Korea, are behind these thefts. They executed sophisticated cyberattacks, often employing malware to breach systems. “The DPRK’s cyber program poses a serious threat to global financial stability,” the statement warned.

The statement urged blockchain firms and crypto exchanges to bolster their defenses and avoid unknowingly hiring North Korean IT workers. “Our governments are committed to preventing thefts by the DPRK and recovering stolen funds,” it added.

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North Korea has a long history of using cybercrime to fund its missile and weapons programs. As these attacks grow in frequency and scale, the three nations pledged to work together to counter these rising cyber threats.

TON Blockchain Eyes US Growth Amid Trump Administration Policies

TON Blockchain plans a U.S. expansion under Trump, with investor Manuel Stotz as president, aiming to thrive amid crypto-friendly regulatory hopes.

The TON Blockchain is making big moves, setting its sights on the U.S. market. With Manuel Stotz stepping in as president, this isn’t just a low-key plan—it’s a full-on power play. TON is riding the wave of potential crypto-friendly vibes that came with policies from the Trump era, and they’re not holding back.

The blockchain scene in the U.S. has been heating up, with the demand for decentralized systems going off. TON, with its Telegram-powered roots, thinks it’s the perfect time to slide in and show what it’s got. The focus? Building trust and creating a space where crypto can flourish without feeling like it’s breaking all the rules.

Manuel Stotz, a well-known name in the crypto investor circle, is hyped about steering TON into this next phase. The plan is all about making TON the go-to blockchain for people looking for security, speed, and simplicity.

So, why does this matter? With the U.S. being a major player in the crypto world, TON’s entry could shake things up big time. Keep an eye on this—it’s giving major main-character energy in the blockchain game.

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