Monday Crypto Industry Update: Feb 10-16 📰

📊Market Highlights

- Bitcoin is down 1.04% over the last 7 days, currently at $96,150
- Ethereum is sitting at $2,600 with a 2.2% increase last week
- Last week’s top 3 gainers were CAKE (66%). S (+34&), and KAS (+23%), while the top 3 losers were BGB (-23%), SOL (-10%), and XCN (-10%)
- The crypto market’s Fear & Greed Index is at 38 Fear today
- Crypto market capitalization at $3.19 trillion, down 1.17% since yesterday
- Stablecoins market capitalization is up 0.52% in the last 7 days, currently at $225 billion
- NFT sales volume has increased by 55% over the previous 7 days while total sales increased by 46% with 389,980 sales
- Bitcoin market cap dominance is currently at 59.8%, followed by Ethereum at 10.2% and other cryptocurrencies at 30%

🌐Blockchain Technology

- World ID Orb verifications launched in the Philippines; it’s also available in Jakarta
- The latest blockchain gaming report sees 7 million daily unique active wallets in January 2025, up 386% compared to the previous year’s January (DappRadar)
- Stablecoin company Plasma is building a new blockchain that offers zero-fee USDt transactions, raises $24 million in funding, with participation from Bitfinex and Tether
- https://t.co/UuRd1DbRVx has launched an AI agent gaming companion that coaches and supports you via chatbox
- Ethereum gaming network Ronin removes restrictions, going Open Ronin, and allowing anyone to build on the blockchain
- Crypto shooter game Off the Grid surpassed 13 million players, with 450,000 daily active addresses

📃Regulatory Updates

- In February, 9 U.S. states have introduced legislation regarding cryptocurrency, from Bitcoin reserves to task forces
- Indian authorities seized $190 million worth of cryptocurrencies associated with Bitconnect Ponzi scheme
- A man from Las Vegas was accused of running a $24M crypto Ponzi scheme through YouTube video and PowerPoint presentation, promising annual returns of 15-30%
- Gibraltar court freezes $7M PLAY tokens, as US-based Ready Makers won a court order over its Gibraltar subsidiary, Ready Maker Limited
- Crypto mining service HashFlare co-founders plead guilty to wire fraud in the U.S.
- US, UK, and Australia sanction Russian hosting service provider Zservers for supplying LockBit crypto ransomware group

💰Investments & Partnerships

- Goldman Sachs increases crypto exposure, upping Bitcoin ETF holdings by 114% and Ether ETF holdings by 2,000%
- Japanese gaming studio Gumi buys 1 billion yen worth of $BTC, equivalent to $6.6 million
- Crypto reality series Killer Whales comes back with a $1.5M incubation fund for startups and a $100,000 accelerator package
- HashKey, a crypto exchange in Hong Kong, raises $30 million in investments from China-based VC firm Gaorong Ventures
- Metaplanet raises 4 billion JPY in 0% interest bonds to buy more Bitcoin
- Coinbase and F1 Aston Martin team announced a sponsorship, with undisclosed amount being paid in USDC
- Tether Investments buys a minority stake in Italian football club, Juventus FC

🛡️Crypto Security

- Eliza Labs founder S. Walters X account was hacked with posts to scam links
- 6 men kidnapped a family and their nanny in Chicago, demanding $15 million in cryptocurrencies in ransom payments
- zkLend lost $9.5M in an exploit on Starknet network, now seeking legal action as hacker didn’t accept the bounty
- Javier Milei, President of Argentina, endorses a Solana-based $LIBRA token, which signals a rug pull and insider trading; KIP Protocol is involved, and an investigation has started

🗞️Miscellaneous

- Deutsche Bank-backed Taurus launched Solana-based custody and tokenization platform for banks
- Robinhood’s crypto trading volumes increased 450% year-on-year while crypto revenue reached $358 million (making up over 50% of their transaction-based revenues)
- 12 U.S. states hold a total of $330 million stake in Michael Saylor’s Strategy, in the form of state pension funds or treasury
- Franklin Templeton launches its OnChain US Government Money Fund (FOBXX) on Solana
- Crypto trader makes $28 million in profit after buying the memecoin inspired by Binance co-founder CZ’s dog whose name is “Broccoli”

Have a successful week ahead! 🤝
- Swapin Team