Market Digest

LIBRA takes a nosedive, Binance realizing income, and FTX is finally paying out.

A tutorial video turned TST from a test asset into a viral memecoin, leading to a Binance listing. The SEC launched a Crypto Task Force to clarify digital asset regulations. MetaMask introduced its Gas Station feature, but competitors remain ahead.

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.