Rostin Behnam to step down as CFTC chair as Trump takes office
Rostin Behnam, the Chair of the US Commodity Futures Trading Commission (CFTC), confirmed he will resign from the agency effective Jan. 20, the Financial Times reported on Jan. 6. This timing coincides with the inauguration of President-elect Donald Trump, allowing…
Western Union and MoneyGram app usage drops as stablecoin adoption surges
Traditional remittance giants like Western Union and MoneyGram are struggling to keep pace in an evolving financial ecosystem increasingly shaped by stablecoins. According to Matthew Sigel, Head of Digital Assets Research at VanEck, downloads of remittance giants apps have dropped…
MicroStrategy buys 1,070 BTC as Saylor declares interest in Bitcoin advisory for Trump
MicroStrategy disclosed the acquisition of 1,070 Bitcoin for $101 million in a Jan. 6 filing with the US Securities and Exchange Commission (SEC). This marks the firm’s ninth consecutive week of aggressive purchases, bringing its total Bitcoin holdings to 447,470 BTC…
US Bitcoin ETFs see $903 million inflow as 2024 confirmed $44.2 billion gain globally
Crypto-related products recorded a remarkable $44.2 billion in inflows last year—almost four times higher than the previous all-time high of $10.5 billion set in 2021. According to CoinShares’ latest report, this record-breaking performance is attributed to the introduction of US…
VanEck CEO recommends investors to double down on Bitcoin as hedge in 2025
Jan van Eck, CEO of VanEck, has recommended that investors maintain or increase their exposure to Bitcoin (BTC) and gold in 2025 in the firm’s 2025 outlook report. He argued that these assets are indispensable hedges against inflationary pressures, fiscal…
South Korea reconsiders crypto ETFs amid global market shift and demand
South Korea’s Exchange Chairman, Eun-Bo Jeong, has signaled interest in introducing crypto-based exchange-traded funds (ETFs) this year, aligning with global demands for such products. At the Securities and Derivatives Market Opening Ceremony on Jan. 2, Jeong reportedly emphasized the need…
Bitcoin genesis block anniversary marks 16 years of financial revolution
The crypto world is celebrating 16 years since Bitcoin’s Genesis block was mined on Jan. 3, 2009. This landmark event not only marked the birth of the top digital asset but also laid the groundwork for today’s digital financial revolution….
New Frax Finance stablecoin backed by BlackRock’s BUIDL fund, enhancing fiat-crypto bridge
BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has deepened its position within the digital asset space as Frax Finance approved it as collateral for its soon-to-be-launched frxUSD stablecoin, according to a Jan. 2 statement. FrxUSD frxUSD is Frax Finance‘s newly…
Tether and Circle generate $664 million in December revenue commanding stablecoin market
The crypto industry saw significant on-chain revenue in December, with stablecoin issuers taking the lion’s share, according to data from DeFiLlama. These issuers collectively earned over $664 million, representing over 40% of the $1.5 billion total revenue generated by crypto…
Bitcoin ETFs face new year exodus, BlackRock loses 3,500 BTC amid price rally
The first trading day of the year saw notable outflows from spot Bitcoin and Ethereum exchange-traded funds (ETFs), totaling over $310 million. On Jan. 2, data from SoSoValue revealed that Bitcoin-focused ETFs experienced $242.3 million in outflows. BlackRock’s iShares Bitcoin…