Last updated on February 3rd, 2025 at 01:56 pm
Hi there.
January 2025 ends today and what a month it has been for the crypto space. From Trump’s inauguration stirring market speculation to high-profile hacks and groundbreaking regulatory moves, this month really set the tone for what could be an eventful year ahead.
As usual, here are some interesting events that happened over the last seven days of the month. Enjoy!
Biggest Story
KuCoin Pleads Guilty to U.S. Regulatory Violations
KuCoin has pleaded guilty to violating U.S. anti-money laundering (AML) and KYC regulations by operating an unlicensed money-transmitting business. The exchange has been fined $297 million and must halt its U.S. operations for two years.
U.S. prosecutors accused KuCoin of processing over $5 billion in suspicious transactions and failing to register with FinCEN. Until July 2024, the exchange allegedly did not require KYC verification.
As part of the settlement, founders Chun Gan and Ke Tang stepped down, and BC Wong was appointed as the new CEO.
Other Stories Making Waves
NoOnes’ $7.9M Loss: NoOnes, the Bitcoin P2P marketplace by ex-Paxful CEO Ray Youssef, reportedly suffered a $7.9 million security breach—right in the middle of a scheduled maintenance period. The platform is yet to officially confirm the hack.
Dean Norris Gets Hacked: Hackers took over Dean Norris’s social media to promote a fake token, “DEAN,” which briefly hit an $8.4 million market cap before crashing when Norris exposed the scam.
Bitpanda Secures MiCA License: Bitpanda just became the first major crypto firm to secure the coveted EU-focused crypto license.
Meme Coin ETFs; Tuttle Capital is Betting Big on Crypto Hype: Tuttle Capital is making waves by filing for the first-ever U.S. meme coin ETFs, including ones linked to Trump and Melania. These high-risk, high-reward leveraged ETFs could double daily returns—but also double the losses.
XRP vs. Bitcoin: U.S. Crypto Reserve Debate Heats Up: Omni Network’s co-founder Austin King argues that XRP should be included in a U.S. crypto reserve due to its speed and cost-effectiveness compared to Bitcoin. He believes that relying solely on Bitcoin limits the reserve’s utility.
Coinbase Expands Advisory Council with Political Heavyweights: Coinbase just levelled up its Global Advisory Council, adding big names like former U.S. Senator Kyrsten Sinema and ex-Fed official Bill Dudley.
Around the World: Bold Moves and Crypto Regulations
Kazakhstan Ramps Up Crypto Regulations and Infrastructure: President Kassym-Jomart Tokayev is pushing for rapid improvements in the country’s digital asset infrastructure. He highlighted that most crypto investors operate in a “gray zone” and called for better regulations.
Czech Central Bank Eyes Massive Bitcoin Investment: The Czech National Bank (CNB) is considering investing billions of euros in Bitcoin to diversify its reserves. While some officials remain cautious, Michl believes increased regulatory clarity under Trump’s administration could fuel Bitcoin’s long-term growth.
Coinbase Expands to Argentina with New Regulatory Approval: Coinbase has secured approval from Argentina’s National Securities Commission (CNV) to operate as a Virtual Asset Service Provider. With 76% of Argentinians seeing crypto as a hedge against inflation, Coinbase aims to provide secure and affordable services.
Ripple Secures Key U.S. Licenses for Crypto Payments: Ripple Labs has obtained money transmitter licenses in Texas and New York, allowing it to expand its cross-border crypto payment solutions. The company sees rising demand for faster and cheaper transactions and plans to integrate its RLUSD stablecoin into its platform later this year.
Market Trends: Winners and Losers
Top 5 Gainers 📈
According to data from CoinGecko, these are the five biggest gainers for the week:
- SpaceN skyrocketed 440.5%, from $9.2M to $49.7M.
- Ket surged 182.9%, from $21.4M to $60.5M.
- Mochi saw an impressive 269.5% increase, from $11.8M to $43.6M.
- Murasaki exploded 335.6%, from $43.1M to $188.1M.
- OSOL leaped 234.1%, from $49.2M to $164.5M.
Top 5 Losers 📉
According to data from CoinGecko, the five biggest losers for the week are:
- MAX plunged -54.4%, from $77.4M to $35.3M.
- Pippin fell -49.1%, from $144.7M to $73.6M.
- Hive AI declined -44%, from $135.4M to $75.8M.
- Ava AI tumbled -49.8%, from $161.3M to $80.8M.
- XION dropped -49.2%, from $76.3M to $38.7M.
Project Spotlight
Ice Open Network (ION) Launches Mainnet
Layer-1 blockchain Ice Open Network (ION) has launched its mainnet, marking a major step toward a decentralized, privacy-focused internet. With 200 validators—double the initial target—ION demonstrates strong community trust and engagement. The Layer-1 blockchain supports millions of transactions per second while prioritizing security and user sovereignty. Upcoming innovations include Online+, a blockchain-powered social media platform, and a no-code dApp builder in 2025.
Why It Matters: ION’s mainnet launch strengthens blockchain scalability, privacy, and accessibility. By fostering decentralized application development and reducing entry barriers, it pushes the boundaries of Web3 innovation.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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