SoSo Daily Jan 29 | Trump Media & Technology Group launches fintech brand Truth Fi, investing $250 million in cryptocurrency and related fields.

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 17:50 Hong Kong time, according to sosovalue, the top five gainers are:
Top 1 gainer is SpaceN. As of 17:50 today, its market cap is 81.24M, with a coin price of 2.0304 USD, witnessing a 24-hour increase of 545%.
The second is Vectorspace AI. As of 17:50 today, its coin price is 0.22366 USD, with a 24-hour increase of 152%.
The third is Covalent. As of 17:50 today, its coin price is 0.0063 USD, showing a 24-hour increase of 80%.
In fourth place is WATCoin. As of 17:50 today, its coin price is 0.000209 USD, with a 24-hour rise of 67.3%.
In fifth place is Taboo. As of 17:50 today, its coin price is 0.0002053 USD, increasing by 34.8% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
According to sosovalue, out of 16 sectors, 0 are up and 16 are down. Notably, DePIN, GameFi, and PayFi sectors are worth mentioning.
DePIN sector has fallen -2.98% relative to the UTC 0 time, led by declines in MSN (-23.9%), nos (-13.5%), and zcn (-11.6%).
GameFi sector has decreased -3.49% relative to UTC 0, with mix (-15.4%), vra (-14.4%), and GOG (-14.3%) leading the drop.
PayFi sector has fallen -3.59%, with btg (-9.24%), coti (-7.5%), and nim (-6.36%) leading the decline.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:According to Wu Shuo, as reported by StreetInsider, the operator of the social media platform Truth Social and the streaming platform Truth+, Trump Media & Technology Group (NASDAQ: DJT) ("TMTG") has announced that its board of directors has approved a financial services and fintech strategy, which will include the launch of the financial services and fintech brand Truth.Fi. To diversify the company’s cash and cash equivalents reserves of $700 million as of December 31, 2024, the board has approved investments of up to $250 million, to be held by Charles Schwab. In addition to traditional investment vehicles, these funds may also be allocated to: customized separately managed accounts ("SMA"); customized exchange-traded funds ("ETF"); Bitcoin and similar cryptocurrencies or crypto-related securities.
Next news:Coinbase Global Inc. has announced the addition of several high-profile figures to its global advisory council. Chris LaCivita, known for his role as co-campaign manager for Donald Trump's presidential campaign, and William Dudley, former President of the Federal Reserve Bank of New York, are among the new advisers. The council will also include former US Senator Kyrsten Sinema of Arizona and Allen & Co. Managing Director Luis Alberto Moreno. This move is part of Coinbase's strategy to strengthen its position as the largest cryptocurrency exchange in the US by leveraging the expertise of these influential figures.
Next news:The governor of the Czech National Bank plans to incorporate Bitcoin into its reserves. According to the Financial Times, the governor will propose a plan to consider adding Bitcoin to the national reserves. This initiative could signify a strategic shift for the country in the field of digital currency.
Next news:

Due to the impact of the MiCA regulatory policy, Cryptocom will delist 9 tokens in Europe on January 31, including USDT, WBTC, DAI, Pax dollar (PAX), Pax gold (PAXG), PayPal USD, Cryptocom Staked $ETH (CDCETH), Cryptocom Staked SOL (CDCSOL), Liquid CRO (LCRO), and XSGD (XSGD). After disabling the deposit function, the exchange will continue to support withdrawals of the affected tokens until the end of the first quarter of 2025 and plans to fully delist on March 31. (Cointelegraph)

Next news:

According to Foresight News, the liquidity re-staking protocol Inception has announced the completion of a $3.50 million seed round financing, with participation from London Real Ventures, Gallet Capital, Metazero Capital, Kinetic Kollective, Zephyrus Capital, DSRV, Dewhales, Connectico Capital, Unreal Capital, and Absoluta Digital. The new funds are intended to support the development of a modular risk management framework, allowing users to select reward-generating assets to maximize point rewards and the utility of liquid staking tokens (LST).

According to Foresight News, the liquidity re-staking protocol Inception has announced the completion of a $3.50 million seed round financing, with participation from London Real Ventures, Gallet Capital, Metazero Capital, Kinetic Kollective, Zephyrus Capital, DSRV, Dewhales, Connectico Capital, Unreal Capital, and Absoluta Digital. The new funds are intended to support the development of a modular risk management framework, allowing users to select reward-generating assets to maximize point rewards and the utility of liquid staking tokens (LST).

Next news:

Cryptio, a cryptocurrency accounting platform, has completed a $15 million Series A extension financing round, led by Alven, with participation from 1kx and Ledger Cathay Capital. Cryptio aims to provide backend operations and infrastructure for traditional financial (TradFI) entities, enabling them to offer digital asset products. (Coindesk)

Next news:

Robinhood has announced that it will soon launch trading for Bitcoin, crude oil, and gold futures. The announcement stated that the futures trading will feature a brand new intuitive trading ladder, and in addition to Bitcoin, crude oil, and gold, the new service will also support trading for S&P 500 index, US dollar, and euro futures. (The Block)

Next news:Paradigm commits $1.25 million to aid Tornado Cash co-founder in continued legal battle https://t.co/CYqrvZQxoj
Next news:According to Wu, VitaDAO has initiated a new proposal VDP-161.1, which plans to airdrop 2 million BIO tokens to holders of VITA and VitaDAO IPT. Of this amount, 50% will be available for immediate access, while the remaining 50% will be distributed according to a one-year linear unlock schedule. This proposal is an improvement over VDP-161, adding Solana VITA holders as eligible participants, while excluding holders of the BIO Protocol Treasury or other bioDAOs (those holding VITA in bioDAO) from the distribution.
Next news:

According to Wu Shuo, the Hong Kong Securities and Futures Commission (SFC) has flagged 33 suspicious websites masquerading as HashKey (one of the licensed cryptocurrency exchanges in Hong Kong). These fraudulent sites have slightly modified the official links associated with the exchange to mislead their customers. As of January 29, the SFC has identified at least 91 suspicious trading platforms and links.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.