Weekly Report | Melania Trump, wife of Donald Trump, announces the launch of her personal meme coin $MELANIA; SEC Chairman Gary Gensler officially resigns, Mark Uyeda appointed as acting chairman.

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Organized by: Luan Peng, ChainCatcher

"What important events occurred this week (1.20-1.26)"

1. Melania Trump announces the launch of her personal Meme coin $MELANIA

Trump's wife announced on her personal Twitter account that she will launch her personal Meme coin $MELANIA, and users need to visit the website "Melaniameme.com" to obtain the meme. Subsequently, Trump's Truth Social account retweeted Melania Trump's Memecoin release post.

2. Curve founder: has extended the lock-up period for all veCRV holdings to 4 years

Curve founder Michael Egorov stated on the X platform that he has extended the lock-up period for all his veCRV holdings to 4 years to demonstrate confidence in the long-term development of the project. He also publicly shared a specific transaction record of the extended lock-up.

3. Biden welcomes Trump to the White House

According to Jinshi reports, Biden welcomed Trump to the White House.

4. Ethereum Foundation establishes a new multi-signature wallet, allocates 50,000 ETH to participate in the DeFi ecosystem

Ethereum Foundation staff hww.eth (@icebearhww) announced on social media that the Ethereum Foundation has established a new 3-of-5 multi-signature wallet and injected 50,000 ETH. The Ethereum Foundation will use this new wallet to participate in the DeFi ecosystem and has already conducted test transactions on Aave.

5. U.S. SEC Chairman Gary Gensler officially resigns, Mark Uyeda appointed as acting chairman

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has officially resigned.

According to new appointment documents released by the White House, Mark Uyeda has been appointed as the acting chairman of the SEC.

Uyeda is a Republican member and has served as an SEC commissioner since June 30, 2022. Before becoming an SEC commissioner, Uyeda worked at the SEC for over 15 years. FOX Business previously reported that Mark Uyeda hopes to help Trump fulfill his promise to end the Biden administration's so-called "war on cryptocurrency."

6. U.S. SEC establishes cryptocurrency working group to develop regulatory framework

According to official news, U.S. SEC acting chairman Mark Uyeda has established a special working group on cryptocurrency, "dedicated to developing a comprehensive and clear regulatory framework for cryptocurrency assets."

Commissioner Hester Peirce will lead the working group. The focus of the group will be to help the commission delineate clear regulatory boundaries, provide practical registration pathways, develop reasonable disclosure frameworks, and wisely deploy enforcement resources. Senior advisors Richard Gabbert and Taylor Asher will serve as the chief of staff and chief policy advisor for the working group, respectively.

7. Binance adds TRUMP as a lendable asset

According to an official announcement, Binance has added OFFICIALTRUMP (TRUMP) as a lendable asset for BinanceLoans (flexible rate) and VIPLoan.

8. Justin Sun: If I lead the Ethereum Foundation, ETH will reach $10,000

Justin Sun stated on X that if the Ethereum Foundation and Ethereum are under his leadership, ETH will rise to $10,000.

The plan for the first week is:

1) Immediately stop ETH sales for at least three years, covering operational costs through AAVE lending, staking rewards, and stablecoin lending;

2) Impose heavy taxes on all Layer 2 projects to ensure at least $5 billion in annual tax revenue for repurchasing and burning ETH;

3) Streamline the personnel structure of the Ethereum Foundation and increase salaries for retained employees;

4) Reduce node rewards and strengthen the fee-burning mechanism. Justin Sun stated that through these measures, ETH is expected to break $4,500 within the first week.

9. Market news: CEO of Saudi Kingdom Holding Company says currently not considering investing in cryptocurrency

According to market news, the CEO of Saudi Kingdom Holding Company stated, "We are currently not considering investing in cryptocurrency."

It is reported that Saudi Kingdom Holding Company is led by Prince Alwaleed bin Talal bin Abdulaziz Al Saud and ranked second among the top 100 companies in Saudi Arabia in 2002, while ranking first among private enterprises.

10. Blockchain analytics platform bitsCrunch launches $5 million ecosystem grant program to support Web3 developers

Blockchain analytics platform bitsCrunch has launched a $5 million ecosystem grant program to support Web3 developers with funding, API credits, and token-based assistance.

The total $5 million funding pool is divided into different categories to meet various needs within the community. A $3 million investment pool is held in collaboration with recognized industry partners, while $1.5 million is reserved for API credits, allowing participants direct access to bitsCrunch's data infrastructure.

11. Bubblemaps: AINTI has insider trading, insiders still hold 71% of the supply

According to Bubblemaps, the account of the late entrepreneur and cryptocurrency enthusiast John McAfee published his own AI version Meme coin AINTI on Solana, which has seen significant insider trading. Before its release, 90% of the AINTI supply was sent to multiple addresses, and over $1.5 million has been sold off.

Bubblemaps added that on January 7, the AINTI token deployer began distributing 60% of AINTI to 218 addresses, continuing until the release, with a total of 287 addresses receiving 90% of the supply. Once launched, 60 addresses sold off at a price of $1.5 million. Other insiders still hold 71% of the supply.

12. Trump: America will become the world capital of AI and cryptocurrency

President Trump mentioned cryptocurrency in a speech, stating that America will become the world capital of AI and cryptocurrency.

13. Trump signs executive order to establish cryptocurrency working group: assess the creation of a national reserve, ban CBDC

Trump signed an executive order establishing the Presidential Digital Asset Market Working Group, tasked with developing a federal regulatory framework for managing digital assets (including stablecoins) and assessing the creation of a strategic national digital asset reserve. The working group will be chaired by the White House's "AI and Cryptocurrency Czar" David Sacks, with members including the Secretary of the Treasury, the SEC chairman, and heads of other relevant departments and agencies. The executive order directs departments to propose recommendations to the working group regarding any regulations and other agency actions that should be rescinded or modified affecting the digital asset sector.

Additionally, the executive order prohibits agencies from taking any action to establish, issue, or promote central bank digital currencies (CBDCs). The order also rescinds the previous administration's "Digital Asset Executive Order" and the Treasury's "Framework for International Engagement on Digital Assets," stating that these two executive orders stifled innovation and harmed America's economic freedom and global leadership in digital finance.

Previously, President Trump stated that he was signing executive orders related to AI and cryptocurrency.

14. Fraudsters exploit Trump TRUMP token hype, stealing over $857 million

According to Beincrypto, fraudsters exploited the hype surrounding the TRUMP token issued by Trump last week, sending fake coins to wallets associated with the TRUMP team and its creators, leading cryptocurrency traders closely monitoring these wallets to mistakenly purchase these worthless tokens. They believed that the Trump meme coin team intended to buy these tokens and had insider information. The fraudsters anticipated this behavior and profited from it.

According to Global Ledger data, four scam tokens related to Trump have generated at least $857.5 million in revenue. These tokens—JMilei, MELON, WTRUMP, and PUTIN—have been cashed out on multiple major exchanges. Further investigation revealed that the PUTIN, KING, and BUFFET tokens are associated with the same deposit wallet on Binance. These wallets have collectively withdrawn $91.3 million. This pattern suggests that the same entity or group may have created and cashed out these tokens.

15. Bank of Japan raises interest rates by 25 basis points

The Bank of Japan raised interest rates by 25 basis points as expected, increasing the target rate from 0.25% to 0.50%, marking the largest hike since 2007, with rates reaching a new high since October 2008. Since restarting interest rate hikes in March last year, the Bank of Japan has raised rates three times in less than 12 months.

16. 149th Ethereum ACDC Meeting: Developers plan to release final Pectra software on March 11 for mainnet upgrade

Galaxy Research Vice President Christine Kim summarized the 149th Ethereum Core Developer Consensus (ACDC) conference call.

This week, developers discussed new vulnerabilities found on Pectra Devnet 5 and agreed to launch another development network before upgrading the public testnet; they established a tentative timeline for the activation of Pectra on the mainnet, requiring client teams to release updated software by February 3 to activate Pectra on the Sepolia and Holesky testnets on February 12 and February 19, respectively. Additionally, developers plan to release the final Pectra software on March 11, 2025, for the mainnet upgrade.

17. CoinShares submits ETF applications for XRP and Litecoin, Grayscale submits ETF applications for Solana and Litecoin

According to official regulatory documents, CoinShares submitted registration statements for the "CoinShares Litecoin ETF" and "CoinShares XRP ETF" on Friday.

Additionally, the New York Stock Exchange (NYSE) submitted a 19b-4 filing for Grayscale's "Grayscale Litecoin Trust" and a 19b-4 filing for Grayscale Solana Trust, both of which include terms regarding the conversion of the trusts into spot ETFs.

18. Nasdaq applies to modify BlackRock's Bitcoin ETF to allow for physical redemption

On Friday, Nasdaq submitted a modified rule filing on behalf of BlackRock, allowing the BlackRock iShares Bitcoin Trust to conduct physical redemptions. Typically, when investors want to sell an ETF, they receive redemption payments in cash. Physical redemption means that investors can choose to redeem using the underlying assets (i.e., Bitcoin) that the ETF invests in.

For a year before the SEC approves a spot Bitcoin ETF, companies have been discussing the specific technical details of how such products will be redeemed. The SEC tends to favor cash redemptions, meaning that when investors want to redeem their Bitcoin ETF shares, the fund management company (like BlackRock) must first sell the Bitcoin it holds and then return the cash obtained from the sale to the investors.

19. Grayscale submits 19b-4 application for Solana spot ETF to SEC

Grayscale submitted a 19b-4 application for a Solana spot ETF to the U.S. SEC on Friday.

20. Zhao Changpeng: In a decentralized world, focus should be on self-control; anyone can issue tokens, but purchasing is voluntary

X user @sevecencix stated, "Everyone shouldn't issue cryptocurrency based on their own ideas; I think they have messed up this business."

In response, Zhao Changpeng said, "In a decentralized world, we should focus on self-control. Anyone can issue. But 'I' don't have to buy them."

"What are the must-read articles this week (1.20-1.26)"

1. Balaji Srinivasan: 17 thoughts on the first crypto president

If Trump airdrops TRUMP to American voters, it could generate political support and change the traditional political interest structure, even providing him with the opportunity to dismantle his opponents' political machines.

2. Countdown to Trump's inauguration: a comprehensive review of related concept coins and market predictions

What new crypto policies are expected? Betting situation on Polymarket.

3. A comprehensive analysis of the decentralized AI network Bittensor

Bittensor is a decentralized network aimed at forming an intelligent market that allows high-quality AI models to be developed in a decentralized manner. By leveraging incentive mechanisms and rewarding participants for providing computational resources, expertise, and innovative contributions, Bittensor has established an open-source AI capability ecosystem, where the native currency TAO serves both as a reward token and as a credential for accessing the network.

4. What positive actions has Trump taken for the crypto space since taking office?

Appointing SEC acting chairman Uyeda, changing the DOGE logo in Musk's government efficiency department, investing $500 billion in AI, and exonerating Silk Road founder Ross, who was sentenced to life in prison.

5. Three trillion-dollar investment themes: energy, computing, and cryptocurrency

Meltem Demirors, founding partner of Crucible Capital and former CSO of CoinShares, discusses how energy, computing, and cryptocurrency serve as the three pillars of the modern economy, driving the development of capital markets together.

6. Decoding the platform token track: How WXT replicates the hundredfold miracles of BNB and BGB?

Value capture ability + growth potential = platform token's upward space.

7. Who are the primary "beneficiaries" and potential "manipulators" behind Trump's epic token issuance?

Although Trump claims to "not know much" about his namesake Meme coin TRUMP, the entire crypto layout of the Trump family undoubtedly has powerful "manipulators."

The seemingly casual launch of the TRUMP coin is actually in clear collaboration with multiple projects such as Moonshot and Jupiter/Meteora, which are the biggest beneficiaries behind Trump's epic token issuance besides Solana.

For instance, Moonshot, which supports fiat purchases of memes, quickly added 400,000 users, becoming a strong new challenger to CEX. Meteora, from the same team as Jupiter, is the fastest-growing project in the Solana ecosystem benefiting from Trump's token issuance… As a carefully selected partner of Trump, they deserve long-term attention.

8. What makes GMGN the beneficiary of TRUMP's "immense wealth"?

The official launch of Trump's Meme token TRUMP is undoubtedly one of the most sensational and wealth-legendary events in the Web3 space recently. The token's market cap once soared to $80 billion, significantly stirring the liquidity of other Meme coins in the market and reigniting enthusiasm for on-chain memes, attracting widespread attention from investors.

In this grand wave of Meme coins, some emerging exchanges have stood out with their unique advantages compared to "old" exchanges, among which the GMGN platform has particularly shone in the vertical crypto field of Memecoins. So, how did GMGN break through in this red ocean market? Its secret lies in its deep understanding and practice of the three principles of "fast, accurate, and stable."

9. Frequent scams of "using celebrity X accounts to issue tokens": Is the hype of celebrity Meme coins coming to an end?

On January 24, Binance announced the launch of the new MEME coin VINE's contract, with VINE's price rising over 100% in 24 hours. This is another representative of celebrity Meme coins quickly launched on exchanges following the Trump family's Meme.

Since Trump issued the Meme coin TRUMP named after himself on January 18, its market cap rapidly climbed to nearly $80 billion within two days. Meanwhile, the Meme coin MEANIA, named after his wife, also briefly surpassed $5 billion in market cap, and even the Meme coin "BARRON," named after his youngest son, saw its total market cap sharply rise to about $400 million.

The astonishing price increases of this series of MEME coins not only made the Trump family a fortune but also created a group of millionaires and even billionaires who became rich overnight by purchasing these Memes, with users constantly showcasing their huge profits from buying Meme coins on X every day. This has left investors who missed out on the TRUMP coin feeling regretful, hoping to quickly capture the next hundredfold celebrity Meme coin to make up for previous losses.

Faced with such enormous economic benefits, the issuance of MEME coins by celebrities is becoming a new hype hotspot in the market, with dozens of celebrity Meme coins flying around on various social platforms every day, making it hard for users to distinguish between the real and the fake.

10. What does the inauguration of the first crypto president in the U.S. mean for the Chinese-speaking crypto community?

Looking to the future, continuing to focus on and support truly valuable and promising projects while avoiding blind following is a core mindset that every industry practitioner needs to maintain.

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