PA Daily | Ethereum core developer Eric Conner exits the Ethereum community; Silk Road founder Ross Ulbricht regains freedom

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Today's News Highlights:

Market News: Silk Road founder Ross Ulbricht leaves prison after receiving a Trump pardon

US mining giant Critical Metals plans to adopt a Bitcoin financial strategy, with a funding pool of $500 million

Kenya proposes legislation requiring digital asset companies to establish local offices

Andrew Kang: Optimistic about Plume and RWAfi, the Trump administration helps achieve "tokenization of everything"

Possibly influenced by Binance Alpha launch, MAX and TRISIG both rise over 40%

Trump responds to coin issuance: I don't know much about TRUMP coin, just know I launched it

Ethereum core developer Eric Conner announces exit from the Ethereum community

10x Research: Bitcoin may rise to $122,000 in February, then enter another consolidation phase

Regulation/Macro

Hong Kong Securities and Futures Commission's Yip Chi-hang: New virtual asset platform licenses will be issued soon

According to Zhitong Finance, Yip Chi-hang, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission (Chairman of the Fintech Advisory Group), revealed that new licenses for virtual asset platforms will be issued soon, with good news expected in the first quarter. He continued that almost all applicants had undergone on-site inspections last year, allowing regulators to express requirements and giving platforms time to respond. The industry believes that direct communication can expedite the licensing process. Yip stated that he cannot guarantee that all 11 current applications will be approved, as they must adhere to regulatory red lines, including investor protection and operators' cybersecurity requirements, but he hopes that good news will come in one to two months. Previously, the Hong Kong Securities and Futures Commission had announced plans to establish a consultation group for all licensed platforms by early 2025 to ensure that industry views are considered in policy-making. Yip mentioned that executives from licensed platforms have been invited to participate, and he hopes that each licensed platform will send representatives, with the first meeting expected to be held after the Lunar New Year in the first quarter.

Warning: US Treasury XRP wallet-related scams spreading on social media

According to Beincrypto, Chainlink community liaison Zach Rynes posted a warning on platform X stating, "This is the latest example of misinformation rampant in the XRP community. This time, we found fake KYC accounts from the Philippines impersonating the US Treasury and issuing fake tokens on the XRPL." The post regarding the US Treasury XRP wallet scam spread rapidly once published, with multiple popular X accounts sharing it. This fake wallet allegedly interacted with major institutions like Bank of America and JPMorgan, but on-chain analysis shows it is located in the Philippines, indicating that a non-US account clearly activated this counterfeit Treasury wallet. Rynes stated that trained individuals can immediately spot the warning signs in this incident, but "it's hard to know how to address social media scams like this."

Market News: Silk Road founder Ross Ulbricht leaves prison after receiving a Trump pardon

According to Cointelegraph, Silk Road founder Ross Ulbricht left prison after receiving a pardon from US President Trump.

US mining giant Critical Metals plans to adopt a Bitcoin financial strategy, with a funding pool of $500 million

According to Globenewswire, US mining giant Critical Metal Corps (Nasdaq: CRML) announced plans to begin allocating its excess reserves to BTC, a decision approved by its board. According to the company's announcement, it may have access to a $500 million funding pool, which will be part of a convertible note financing led by JBA Asset Management, subject to the conditions contained in the transaction documents. The company stated that it will first allocate $100 million from the $500 million funding pool to purchase Bitcoin. The coverage ratio for the first batch of funds' warrants is 100%. It also mentioned that the remaining $400 million can be used at the buyer's discretion, with a coverage ratio of 50%. According to the financing conditions, the convertible notes are secured by the cash raised and the underlying BTC acquired. Although the company has not disclosed a strategic Bitcoin purchasing plan, it stated that this move will depend on its cash flow needs and may ultimately modify some conditions of the strategy as it sees fit.

MARA Holdings CEO: Working to bring strategic Bitcoin reserve plan to all 50 US states and federal government

MARA Holdings CEO Fred Thiel stated on platform X that they are working to bring their strategic Bitcoin reserve plan to all 50 states and the federal government.

Hong Kong Legislative Council has reviewed the "Stablecoin Regulation Draft" for the first time, with licensed stored value payment tool companies participating in the sandbox

According to Hong Kong media Ta Kung Pao, the relevant bill committee of the Hong Kong Legislative Council reviewed the "Stablecoin Regulation Draft" for the first time yesterday, and the draft is expected to be passed and become law within a few months. Hong Kong's Under Secretary for Financial Services and the Treasury, He Siu-hong, stated that stablecoin products issued in Hong Kong or overseas that reference the Hong Kong dollar must obtain a license. License holders must maintain a robust reserve stabilization mechanism to ensure that the reserve assets of the stablecoin consist of high-quality and highly liquid assets, with a total value at all times at least equal to the face value of the circulating fiat currency stablecoins, and must be properly segregated and safeguarded. Additionally, according to the Hong Kong Monetary Authority's assistant president…

Cryptocurrency-related apps occupy the top four spots in the free financial app rankings in the US Apple App Store

AppFigures data shows that cryptocurrency-related apps currently occupy the top four spots in the free financial app rankings in the US Apple App Store, with Crypto.com ranking first, followed by Moonshot, Coinbase, and Coinbase Wallet.

US SEC establishes cryptocurrency working group to develop regulatory framework

According to Jinshi, the US Securities and Exchange Commission (SEC) acting chair Mark Uyeda has established a special working group for cryptocurrency, "dedicated to developing a comprehensive and clear regulatory framework for cryptocurrency assets." Commissioner Hester Peirce will lead the working group. The group's focus will be to help the commission delineate clear regulatory boundaries, provide practical registration pathways, establish reasonable disclosure frameworks, and wisely deploy enforcement resources. Senior advisors Richard Gabbert and Taylor Asher will serve as the group's chief of staff and chief policy advisor, respectively.

Kenya proposes legislation requiring digital asset companies to establish local offices

PANews reported on January 21 that the Kenyan government is drafting a law requiring virtual asset service providers to establish local offices to strengthen regulation of the rapidly growing digital asset industry. The proposed policy does not apply to assets that cannot be transferred, traded, or used for payment and investment outside a closed ecosystem, and aims to address gaps in the legal and regulatory framework in the virtual asset sector while tackling issues such as consumer protection, governance, data privacy, and cybersecurity. Kenya introduced a 3% tax on digital asset trading income in 2023 but has yet to establish a comprehensive industry regulatory framework. The government hopes to fill regulatory gaps through this move while addressing industry risks such as money laundering, terrorism financing, tax evasion, fraud, and cybercrime.

AI

Trump: OpenAI, SoftBank, and Oracle to invest $500 billion in artificial intelligence

According to Reuters, US President Donald Trump announced on Tuesday that three leading companies will make significant investments in artificial intelligence infrastructure. Trump stated at the White House that OpenAI, SoftBank (9984.T), and Oracle (ORCL.N) will form a joint venture called "Stargate," planning to invest $500 billion. Trump indicated that he would assist in advancing the project through an emergency executive order.

Project Updates

Binance launches VTHO/USDT perpetual contract with a maximum leverage of 75 times

Binance announced that it will launch the USDⓈ-M margin VTHO/USDT perpetual contract at 17:30 Beijing time on January 22, supporting a maximum leverage of 75 times.

Uniswap: v4 deployment will begin rolling out this week, with full contract deployment expected next week

Uniswap Labs announced on platform X that the v4 deployment will begin rolling out this week for developers to test on-chain hooks and integrations, with full contract deployment expected next week. The contract addresses will be announced soon.

Ethereum core developer Eric Conner announces exit from the Ethereum community

Ethereum core developer and co-author of EIP-1559, Eric Conner, posted on platform X early yesterday, stating: "I am no longer a part of .eth (Ethereum domain)… Perhaps one day, those leaders will realign with the community, but for now, I have left. Deep down, I sincerely hope Ethereum succeeds. Good luck." Additionally, Eric Conner stated today: "My passion lies entirely in the potential of cryptocurrency and artificial intelligence. Cryptocurrency is essential for building an open, trustworthy, and fair AI future, where humanity does not lose autonomy. We need to build tools and infrastructure that can ensure this future. For me, it starts with Freysa (AI token), but I am very willing to talk to anyone building tools and infrastructure that ensure cryptocurrency brings a positive future for AI. The importance of getting this right outweighs any specific blockchain or individual."

Opinions

Trump's son: Now is the best time to invest in America, betting on cryptocurrency and other fields

Eric Trump, Trump's son, posted on X: "I believe now is the best time to invest in America. Bet on our markets, energy, technology, and cryptocurrency, betting on a country that has shed its restrictions and shackles and now has limitless potential. There is no doubt that Biden left a mess, but this mess will be fixed, and the next four years will be glorious. Transformative wealth will be created, and I hope everyone enjoys the process."

Andrew Kang: Optimistic about Plume and RWAfi, Trump administration helps achieve "tokenization of everything"

Andrew Kang, a partner at Mechanism Capital, stated on social media that the RWA sector has long been constrained by strict securities law restrictions. However, he is hopeful about the policies during the Trump administration, believing they will help achieve "tokenization of everything" and make securities trading on-chain as simple as native crypto assets. He also expressed optimism about Plume and RWAfi.

10x Research: Bitcoin may rise to $122,000 in February, then enter another consolidation phase

According to Cointelegraph, Markus Thielen, head of research at 10x Research, stated that Bitcoin could rise 15% from its current price in a few days but may then enter a consolidation phase. In a market report on January 21, Thielen noted that Bitcoin successfully retested its wedge breakout after rebounding from $98,937 to over $107,000. Thielen indicated that the breakout signals on Bitcoin's price chart suggest a potential "low-risk, high-reward entry opportunity." He mentioned that since the US approved the Bitcoin spot ETF a year ago, Bitcoin has shown a pattern of "rising with increments of $16,000 to $18,000," indicating that Bitcoin could reach $122,000 in February before "entering another consolidation phase." Thielen added that the potential gains may not stop there, and "if this pattern continues, Bitcoin could not only reach $122,000 but may even trade above that level before retesting it as support."

Consensys CEO: Trump family reportedly to establish one or more large enterprises on Ethereum

Joseph Lubin, co-founder of Ethereum and founder of Consensys, posted on platform X: "To my knowledge, the Trump family will establish one or more large enterprises on Ethereum. They will also conduct business on other chains like Bitcoin and Solana. The Trump administration will do things beneficial to America, which will involve ETH, and the government will consider how the US can support Ethereum for the benefit of America, potentially using Ethereum technology in government activities, just as they currently use the internet and network protocols."

Consensys CEO: Ethereum will publicly announce multiple high-value plans that will reshape Ethereum's "go-to-market" approach

Joseph Lubin, co-founder of Ethereum and founder of Consensys, responded to recent controversies regarding Ethereum: "One of Vitalik Buterin's greatest qualities is his decision-making process. When issues arise, he listens and gathers information, weighing all factors, and makes decisions when he believes he has considered most of the necessary data. The best way forward is to recognize that he has heard all our voices, and things are moving forward. Threatening harm or attempting coercion is deeply unsettling and counterproductive. The Ethereum Foundation (EF), the Enterprise Ethereum Alliance (EEA), and ConsenSys have multiple ongoing projects that will reshape Ethereum's 'go-to-market' approach in the near future. From what I see, many high-value plans will be publicly announced soon, to the point that you will be dazzled. It’s best to stay calm and not lose your mind before the wave begins."

Ethereum founding member Anthony DOnofrio calls for leadership change at the Ethereum Foundation

Ethereum founding member Anthony DOnofrio published a commentary article on CoinDesk titled "The Ethereum Foundation has Lost Its Way." The article calls for a leadership change at the Ethereum Foundation. He stated: "To ensure its future, the Ethereum Foundation must transform from a passive institution into an active vision driver." DOnofrio pointed out that the Ethereum Foundation is a contradiction; while it is committed to decentralization, its operations are centralized, with directors, finance departments, paid developers, and a core circle; these structures, while necessary for coordination, conflict with Ethereum's decentralization philosophy. He noted that the Ethereum Foundation, in its current form, aims to minimize internal and external threats but has lost its original vision. The next phase of Ethereum requires more than just technical research and coordination meetings. It needs visionary leadership—someone who understands not only the technology but also its broader social, philosophical, and political implications. This leader must inspire a new generation of builders to connect technology with human needs and navigate the complex political landscape without compromising Ethereum's ideals. Additionally, DOnofrio called for the Ethereum Foundation to provide more transparency and strengthen its connection with the community, seizing opportunities to engage with legislators under the current favorable political climate in the US, and while maintaining political neutrality, the foundation could create or promote frameworks that encourage compliance and innovation. Furthermore, the Ethereum Foundation should consider using its own technology to coordinate its operations, demonstrating the transformative potential of decentralized systems; by adopting Ethereum-based tools and protocols, the foundation could manage governance, fund allocation, decision-making processes, and community engagement. DOnofrio also urged the Ethereum Foundation to prioritize financial accountability.

Trump's son: Now is the best time to invest in America, betting on cryptocurrency and other fields

Eric Trump, Trump's son, posted on X: "I believe now is the best time to invest in America. Bet on our markets, energy, technology, and cryptocurrency, betting on a country that has shed its restrictions and shackles and now has limitless potential. There is no doubt that Biden left a mess, but this mess will be fixed, and the next four years will be glorious. Transformative wealth will be created, and I hope everyone enjoys the process."

Trump responds to coin issuance: I don't know much about TRUMP coin, just know I launched it

According to Jinshi, Trump responded to the coin issuance: "I don't know if it (TRUMP coin) is profitable; I don't know much about it, just know I launched it. I've heard it's very successful."

Important Data

Possibly influenced by Binance Alpha launch, MAX and TRISIG both rise over 40%

Possibly influenced by the Binance Alpha launch, MAX broke through $0.09, rising 40.1% in 24 hours; TRISIG broke through $0.03, rising 40.4% in 24 hours. Previously, it was reported that Binance Alpha added MAXONSOL and $TRISIG.

US Bitcoin spot ETF saw a total net inflow of $802 million yesterday, continuing four days of net inflows

According to SoSoValue data, yesterday (Eastern Time January 21), the total net inflow for Bitcoin spot ETFs was $802 million. Yesterday, Grayscale's ETF GBTC had a net outflow of $0.00, with a historical net outflow of $21.654 billion. Grayscale's Bitcoin Mini Trust ETF BTC had a net inflow of $136 million yesterday, bringing the historical total net inflow for Grayscale Bitcoin Mini Trust BTC to $1.096 billion. The Bitcoin spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, which had a net inflow of $662 million, and the historical total net inflow for IBIT has reached $39.074 billion. As of the time of publication, the total net asset value of Bitcoin spot ETFs is $12.359 billion, with an ETF net asset ratio (market cap compared to total Bitcoin market cap) of 5.88%, and the historical cumulative net inflow has reached $38.982 billion.

Circle has minted 2.5 billion USDC on Solana in the past 4 days

According to Lookonchain monitoring, since the launch of TRUMP, Circle has minted 2.5 billion USDC on Solana in just 4 days.

Trump family's crypto project WLFI exchanges 5,252 ETH for stETH and stakes it to Lido

According to Onchain Lens monitoring, early this morning, the Trump family's crypto project World Liberty Financial (WLFI) exchanged 5,252 ETH (worth $17.43 million) for stETH and staked it to Lido.

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