Market Digest

Tether reported $13 billion in 2024 profits, driven by Bitcoin, gold, and Treasuries. Meanwhile, El Salvador revoked Bitcoin’s legal tender status, citing volatility and adoption struggles. ETH is underperforming the market, with speculation of trading firm liquidations.

A fake meme coin, posted by a Nasdaqmeme X account and quickly shut down after a Nasdaq repost. Circle acquires Hashnote to integrate yield-bearing collateral with USDC. US President Trump launches his own meme coin, stirring crypto intrigue.

Trump's official MEME coin surged from $0.15 to $70 in two days, with Trump’s entities owning 80%, potentially surpassing his business empire. Its rise raises concerns about market manipulation. Meanwhile, a Litecoin ETF may be approved, and Deribit is exploring acquisition offers.

On January 20, CFTC and SEC Chairs will step down, with Behnam advocating for CFTC crypto oversight and Gensler criticizing the industry's noncompliance. Meanwhile, Solana surpassed Ethereum in DEX trading volume at $4B, and DEX trading now exceeds 20% of CEX volume, signaling rapid growth.

Base is exploring the tokenization of $COIN to bring assets on-chain, Binance leads with 250M users compared to Bybit’s 60M and Gate’s 20M, and MiCA’s full implementation has raised compliance uncertainty for USDT in the EU, pushing users toward USDC, now trading at a premium.

Over 30% of South Koreans hold crypto, with 15.6M users in November. Russian firms are using Bitcoin for international payments amid sanctions. Bitget's BGB token hit new highs, ranking No.16 by market cap, with the community targeting $10, which could place it among the top 10-14 tokens.