Plus: Czech Republic eyes Bitcoin for nationwide reserves
GM. We have been out choosing from the blockchain winery – the Day by day Squeeze is right here with a full basket of fruity insights.
👋 Saying bye to Justin Trudeau, Michael Barr, and Rostin Behnam.
🍋 Information drops: crypto discussion board mod compelled to enter hiding, the Czech Nationwide Financial institution would possibly put money into Bitcoin + extra
🍍 Market taste right this moment
If crypto had a Tinder profile, right this moment’s bio can be: “Swipe proper if you happen to can deal with the warmth” 🥵
The Concern & Greed Index is shining shiny at 78 (nonetheless in Greed) as Bitcoin stepped again over $100K for the primary time since mid-December.
In the meantime, BTC ETFs attracted about $978.6M in new cash yesterday, virtually wiping out the $1.9B that left the market from December 19 to January 2.
Regardless of the outflows, December was a standout month for Bitcoin ETFs within the US – they added 50K BTC to their holdings when solely 13,850 new cash entered the market. Translation: demand from ETFs was roughly 270% greater than the recent provide.
Then there’s MicroStrategy, which purchased an additional 1,070 BTC for $101M at about $94K per coin. Although it is much less aggressive than their December spree, it nonetheless exhibits they are not backing away from their BTC technique.
Warmth rises, however do not forget – it may well cool simply as quick. Soo… is it a match? 😏
🥝 Memecoin harvest
These memecoins show that generally dumb cash is not so dumb in any case 🤪
Title
24H Change
Glitch Gremlin AI GREMLINAI
▲4K%
PrismAI PRISM
▲281%
TrustInWeb3 T3AI
▲139%
AI-Powered CMP AICMP
▲127%
Information as of 07:35 AM EST.
Take a look at these memecoins and many extra right here.
If you happen to ever really feel the necessity to learn some posts like “I went for a jog, launched a startup, and ended world starvation by 6 AM”, you recognize the place to go: LinkedIn.
However you recognize what? Someplace between these cringe motivational #MondayGrind speeches, we would quickly see some #OpenForWork updates from sure individuals… and this time, it is really price caring about.
1/ Justin Trudeau
Canada’s Prime Minister, Justin Trudeau, introduced he is stepping down as celebration chief and PM as soon as his substitute is chosen.
This choice comes not lengthy after Chrystia Freeland, the Finance Minister, additionally resigned following disagreements over dealing with US tariff threats.
And here is the juicy bit – many analysts (and Polymarket) predict that Conservative chief Pierre Poilievre is gonna lead the following authorities.
Now, our man Pierre:
Is pro-crypto and pro-DeFi;
Does not like the thought of CBDCs;
Needs Canada to be a worldwide hub for blockchain.
And we’ll take that any day.
2/ Michael Barr
Over within the US, the Fed’s Vice Chair for Supervision, Michael Barr, is out by February 28 (or earlier in the event that they discover a substitute).
Barr’s been linked to Operation Chokepoint 2.0 – an alleged federal effort to debank crypto corporations.
Senator Cynthia Lummis mentioned that Barr fully failed to meet his duties and that it is time for a extra crypto-friendly substitute.
3/ Rostin Behnam
CFTC Chair Rostin Behnam will step down on January 20 after 4 years marked by aggressive crypto enforcement.
He is been vocal concerning the lack of crypto regulation and that he needs his successor to place some actual boundaries in place.
And who’s subsequent in line? Rumor has it that Brian Quintenz, a former CFTC commissioner and present coverage lead at a16z, would possibly take the spot.
If that is true, it may imply one other pro-crypto voice becoming a member of the ranks.
So yeah, are we gonna get a kind of ‘shedding a job is only a progress alternative’ essays? Who is aware of.
What we do know is that the individuals getting into these roles may carry some critical modifications – and crypto would possibly simply be right here for it.
🍋 Information drops
🫣 A Canadian crypto discussion board mod has gone into hiding together with his household after some kidnappers tried to grab him, pondering he held 2.5M BTC. Spoiler: he would not. The man mentioned, “I am only a common dude. I may need $10K.”
🚀 Solana devs are cooking up a brand new hashing system to deal with the community’s rising consumer base. The purpose? Make it potential to handle billions of accounts with out the system breaking a sweat.
💸 Gemini’s handing over $5M to the CFTC to settle a beef about some claims they made seven years in the past. Apparently, again then, their pitch on Bitcoin futures was slightly too optimistic.
😬 US prosecutors estimate that the Terraform Labs collapse could have impacted over one million individuals worldwide. Fairly lots of people including “belief points” to their resumes…
🇨🇿 The Czech Nationwide Financial institution’s governor, Aleš Michl, floated the thought of utilizing Bitcoin to diversify the nation’s overseas reserves. They simply maintain coming…;)
🧃 Sip of information
Be taught concerning the Uphold Vault with the most recent BitDegree Mission, “Assisted Self-Custody With Uphold Vault”:
🍌 Juicy memes
