Good afternoon. The odds of a strategic U.S. bitcoin reserve keep falling – at least according to the wisdom of the crowds. Still, there’s no shortage of positive news (see below) across the industry to keep everyone rollin’ with optimism.
President Donald Trump has lived up to the first of his promises to the crypto community. He has granted a full and unconditional pardon to Ross Ulbricht, the creator of the Silk Road darknet marketplace. While it didn’t occur on the prophesied “Day One,” it did go above and beyond commutation with a full pardon. Next up, we’ll take Snowden please.
4. Crypto•com Back in the USA
Crypto•com has relaunched its institutional trading platform in the US – just one day after the country’s first pro-crypto president took office. CEO Kris Marszalek teased the timing by referring to “Day 1” in a Tuesday X post. It’s a quick turnaround from roughly 18 months ago, when the exchange halted its initial US rollout over “limited demand” amid an SEC crackdown.
Kris | Crypto.com @kris
Today is Day 1.
Exchange, our institutional-grade venue is now live in the U.S.🇺🇸
Deep liquidity, stable banking rails, robust APIs for most demanding high frequency traders, competitive fees and white glove service for all VIPs.… x.com/i/web/status/1…
Crypto.com Crypto.com | Securely Buy, Sell & Trade Bitcoin, Ethereum and 350+ Altcoins Over 100 million users buy, sell, and trade Bitcoin, Ethereum, NFTs and more on Crypto.com. Join the World’s leading crypto trading platform.
3:39 PM • Jan 21, 2025
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3. Bitcoin ETFs One Year Later
It has been just over a year since spot Bitcoin ETFs hit the markets by storm. Here’s all that happened in year one:
Attracted $115B AUM, $32B in net inflows, and now hold ~5.7% of Bitcoin’s total supply (1.1M BTC)
BlackRock’s iShares Bitcoin ETF (IBIT) dominates with 540K BTC, representing half of all BTC accumulated by the ETFs
Grayscale’s GBTC has seen its holdings reduce from over 600K to 200K
2. Tornado Cash Sanctions Lifted by U.S. Court
A U.S. District Court for the Western District of Texas has ordered that a previous court decision supporting sanctions on crypto mixer Tornado Cash be reversed. TORN, the crypto mixer’s native token, surged more than 160% after the news. In August 2022, the Treasury Department sent ripples through the crypto community after designating Tornado Cash a sanctioned entity and sentencing its developer, Alexey Pertsev, to over five years in prison.
1. SEC Forms New Crypto Task Force Led by Hester Peirce
Acting SEC Chairman Mark Uyeda just formed a new crypto task force – led by Commissioner Hester “Crypto Mom” Peirce – to create a clearer regulatory framework for digital assets. As we reported last week, the team is expecting to get things rolling right away. The goal? Cut the confusion about registration requirements, encourage innovation, and clamp down on actual fraud. According to Peirce, “The SEC can do better.” Now we’ll see if they deliver.
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