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Quick Take Several asset managers filed a flurry of ETF proposals as Donald Trump’s inauguration grows near, proposing funds such as a Litecoin ETF, XRP and Solana leveraged, inverse, and futures funds, actively managed digital asset funds, and more.
Trump’s inauguration and the performance of crypto derivatives could play a significant role in pushing ETH’s price to attain the $4,000 price mark.
Quick Take Ryan Fournier, co-founder of the Students for Trump organization, faced criticism from memecoin traders after admitting to selling half the supply of the “TIKTOK” memecoin, which crashed from a $90 million market cap to just $5 million after the sale. Fournier said he was given 50% of the token by its creator but sold it once the token “started cratering,” though he denied profiting off the token. Fournier claimed he felt defrauded by the creator of the memecoin and admitted to making a mistake
Quick Take President-elect Donald Trump said his election resulted in the stock market’s rally and bitcoin’s price rise in a victory speech in advance of his inauguration Monday. His comments came on the same day his wife Melania Trump launched her own memecoin, causing his token’s price to plunge.
MicroStrategy seeks shareholder approval to raise authorized shares to 10.33 billion, enabling greater financial flexibility.
- 08:34A whale failed to sell ai16z and ZEREBRO at the best time and missed out on more than $40 million in profitsAccording to Lookonchain monitoring, a whale did not sell ai16z and ZEREBRO at the best time and missed out on more than $40 million in profits. On January 2, the whale made $40.8 million in unrealized profits on ai16z and ZEREBRO, but he did not sell for profit. On January 9, he sold ZEREBRO and lost about $1 million. 10 hours ago, he sold 21.34 million ai16z ($9.18 million) and lost about $1 million again.
- 08:33Monad to launch testnet this monthPANews reported on February 4 that the parallel EVM network Monad announced on the X platform that the testnet will be launched in February 2025.
- 08:32Indian government official: India is reviewing its stance on cryptocurrencies due to global changesPANews reported on February 4 that India is reviewing its stance on cryptocurrencies due to changes in other countries' attitudes towards the virtual asset. A senior Indian government official told Reuters on Sunday that the review could further delay the publication of a discussion paper on cryptocurrencies originally scheduled for September 2024. Indian Economic Affairs Secretary Ajay Seth said in an interview: "More than one or two jurisdictions have changed their stance on the use, acceptance and importance of cryptocurrencies. In this trend, we are reviewing this discussion paper." Seth also pointed out that since such assets are "not restricted by national borders", India's position cannot be unilateral. He did not specifically mention the United States, but U.S. President Trump ordered the establishment of a cryptocurrency task force last week to propose new digital asset regulations and explore the creation of a national cryptocurrency reserve, fulfilling his promise to overhaul U.S. cryptocurrency policy. In recent years, despite India's strict regulatory stance on cryptocurrencies and high transaction taxes, Indians have invested heavily in cryptocurrencies.