GuShiio.com The Financial Services Agency of Japan has asked Apple and Google to suspend five unregistered crypto exchange apps;Ondo Finance announced the launch of the Layer-1 blockchain Ondo Chain to promote asset tokenization; and the Czech President signed a new bill to exempt holding Bitcoin for more than 3 years. Capital gains tax.
Today’s top news tips:
1. Czech President signs new bill exempts Bitcoin holders for more than 3 years from capital gains tax
2. Cboe BZX Exchange submitted 19b-4 documents on behalf of multiple issuers to apply for listing and trading in XRP Spot ETF
3. Legislation to invest in Bitcoin in Utah has been passed by the House of Representatives
4. Japan’s Financial Services Agency asks Apple and Google to suspend five crypto exchange apps operating without registration
5. Telegram forces all crypto wallets to use TON Connect, triggering community opposition
6. Ondo Finance announces the launch of Layer-1 blockchain Ondo Chain to promote asset tokenization
7. Solayer announced LAYER token economics: the maximum supply is 1 billion coins, 51.23% will be allocated to communities and ecosystems
8. The Ethereum Pectra upgrade will start testing in February and is expected to land on the main network in April
9. Sun Yuchen sued David Geffen over the $78.4 million collection, claiming the collection was stolen by his art consultant
Regulation/macro
Canada bans crypto funds from enjoying reduced margin benefits and increasing leveraged transaction costs
Canadian regulators have announced that cryptocurrency funds are no longer eligible for margin reductions, a rule that applies to cryptocurrency funds involving OCC options trading. Regulators pointed out that due to volatility and liquidity risks, the policy aims to reduce market instability while increasing leveraged trading costs. However, specific margin qualifications can still be evaluated individually in accordance with Articles 5310(1) and 5311(1) of the IDPC Rules.
Czech President signs new bill exempts Bitcoin holders for more than 3 years from capital gains tax
According to Bitcoin Magazine, the Czech President officially signed a bill stipulating that holding Bitcoin for more than three years can be exempted from capital gains tax.
Cboe BZX Exchange submitted 19b-4 documents on behalf of multiple issuers to apply for listing and trading in XRP Spot ETF
Cboe BZX Exchange filed 19b-4 on behalf of Bitwise, 21Shares and Canary Capital to apply to list and trade the XRP Spot ETF. Document 19b-4 is the second part of a two-step process to propose a cryptocurrency ETF to the U.S. Securities and Exchange Commission (SEC). Once confirmed by the SEC, the document will be published in the Federal Register, initiating the agency’s approval process.
Bitwise first filed its registration application for the spot XRP ETF in October 2023, while 21Shares filed its S-1 registration statement for the XRP ETF with the SEC in November. WisdomTree filed an application for a spot XRP ETF with the SEC in December 2023, and NYSE Arca issued a 19b-4 document on January 30, applying to convert Grayscale’s XRP trust into a spot cryptocurrency ETF. CoinShares also filed a registration statement for the “CoinShares XRP ETF” last month. Purpose Investments filed a preliminary prospectus for the XRP ETF with Canadian regulators on January 31, hoping to become the world’s first XRP ETF issuer.
US SEC considers proposal to modify BlackRock Spot Bitcoin ETF to allow physical redemption
The U.S. Securities and Exchange Commission is considering a proposal that would change BlackRock’s spot Bitcoin ETF to allow physical redemption. In a filing released Thursday, the SEC recognized the proposal and asked for comments to be submitted within 21 days of its filing being published in the Federal Register. Based on the filing, the SEC can then decide to approve, refuse or “initiate proceedings.”
According to a Form 19b-4 filing, Nasdaq last month issued an amended rules document on behalf of BlackRock that would allow physical redemption and creation of the iShares Bitcoin Trust. More than a year ago, when the SEC was considering whether to approve a spot Bitcoin ETF, companies were discussing technical details about how the redemption process for the product would work. The SEC prefers a cash model, which requires BlackRock to remove Bitcoin from storage, sell it immediately, and then return the cash to investors. The SEC later approved BlackRock’s spot ETF proposal in January 2024, among other proposals.
James Seyffart, an ETF analyst at Bloomberg think tank, said in a post on Platform X that changing the redemption and creation process does not mean that individual investors will be able to conduct physical transactions, only authorized participants can do so.
Legislation to invest in Bitcoin in Utah has been passed by the House of Representatives
According to Bitcoin Magazine, legislation to invest in Bitcoin in Utah has been passed by the House of Representatives and is now being reviewed by the Senate.
Franklin Templeton seeks US SEC approval to launch new cryptocurrency index ETF
According to Reuters, Franklin Templeton Investments said on Thursday it is seeking regulatory approval to launch a new cryptocurrency index ETF as asset managers hope to profit from the cryptocurrency boom after Trump wins the U.S. presidential election. Franklin Templeton said in a regulatory filing on Thursday: “The fund may not currently hold any digital assets other than Bitcoin and Ethereum. It is unclear whether any digital assets other than Bitcoin and Ethereum will be added to the underlying index in the future.” This provides room for Franklin Templeton to modify its ETF after other cryptocurrencies receive SEC approval.
Japan’s Financial Services Agency asks Apple and Google to suspend five crypto exchange apps operating without registration
According to Nikkei Shimbun, Japan’s Financial Services Agency has filed a request with Apple and Google this week to block app downloads from five overseas crypto exchanges that operate without registration. The five companies are Bybit Fintech Limited, MEXC Global, LBank Exchange, KuCoin and Bitget Limited. The FSA of Japan issued warnings to these companies in accordance with the Payment Services Law and announced their names. It had previously warned these companies many times not to conduct business against Japanese customers, but they did not stop, so the FSA of Japan decided for the first time to require them to stop operating. In accordance with the request, Apple has removed the apps from the App Store and will no longer provide new downloads starting February 6. Google, which operates the Play Store, has not yet announced the results of the handling.
Earlier today, it was reported that Bybit, Bitget, MEXC, Kucoin and other apps have been removed from the Japanese App Store.
Kentucky congressman proposes investing 10% of state funds in digital assets with a market value of more than $750 billion
Kentucky Rep. TJ Roberts launched Bill HB376, which proposes investing 10% of state funds in digital assets with a market value of more than $750 billion.
Previously, lawmakers from South Dakota and Kentucky planned to propose bitcoin reserve legislation.
project dynamics
Strategy plans to list STRK convertible preferred shares on NASDAQ on Thursday
Strategy (formerly MicroStrategy) is expected to list its convertible preferred stock Strike (STRK) on Nasdaq on Thursday. The company announced key performance targets for 2025 in its latest earnings report, including a $10 billion bitcoin revenue target and a 15% bitcoin yield. So far, its BTC related revenue has reached US$1.24 billion, with a year-to-date yield of 2.9%.
In addition, the company recorded a US$1 billion asset impairment loss due to not adopting FASB accounting standards and plans to adopt the new rules this quarter. To date, the company has used $17 billion of its $21 billion ATM stock offering plan, with stock sales accounting for 2.9% of total trading volume. Strategy shares rose 1.3% in pre-market trading.
Ondo Finance announces the launch of Layer-1 blockchain Ondo Chain to promote asset tokenization
Ondo Finance, the world’s second-largest U.S. Treasury tokenization platform, announced the launch of Ondo Chain, a permission-based Layer-1 blockchain designed for traditional financial institutions, designed to connect traditional capital markets with decentralized finance (DeFi).
Ondo Chain will comply with compliance standards while maintaining transparency and accessibility of the public chain, and use licensing verification nodes to ensure the accuracy of financial data. The network supports tokenized asset pledge and inter-chain interoperability, providing institutions with more efficient asset management solutions.
Telegram forces all crypto wallets to use TON Connect, sparking community opposition
Telegram now requires all third-party crypto wallets to use TON Connect as the only wallet connection protocol, and restricts Mini Apps to only support TON blockchain, sparking controversy over decentralization and exclusivity.
Telegram has set a migration deadline of February 21, and wallets that are not integrated with TON Connect will be suspended. The official wallet Wallet in Telegram will not be affected due to its native support for TON Connect. Bitget Wallet has integrated TON Connect on January 16 to optimize the user experience of the Telegram ecosystem.
The move caused dissatisfaction among some developers, and Grindery Wallet even considered withdrawing from the Telegram ecosystem. CEO Tim Delhaes pointed out that Telegram gives developers a very short time to adjust, which is similar to the monopolistic behavior of a big technology company, which may damage developers ‘trust in the platform.
Binance will launch BERA U standard perpetual contract
According to the Binance announcement, Berachain (BERA) will gradually launch Binance financial management, one-click currency buying, flash redemption, leverage and contract services from February 6 to 7.
- Financial management: BERA is open for subscription at 21:00 on February 6 and for fixed purchase at 18:00 on February 7.
- One-click currency purchase and flash redemption: BERA can be purchased with credit card, Google Pay, and Apple Pay within 1 hour of its on-site launch, and can be redeemed for BTC, USDT, etc. without handling fees.
- Leveraged trading: At 00:00 on February 7, BERA/USDT, BERA/USDC full position and position by position leverage are supported. VIP 7-9 users can borrow 30 minutes in advance.
- Contract: The BERA U-standard perpetual contract (1-75 times leverage) will be launched at 23:00 on February 6.
Berachain’s main network is officially launched, and Bera NFT airdrops are open for collection
According to the official announcement of the Berachain Foundation, the Berachain main network was officially launched. The chain is EVM-compatible L1 blockchain, adopts the Proof of Liquidity consensus mechanism, supports single-slot finality, and provides security and liquidity integration by the BeaconKit modular framework.
- Bera NFT Airdrop: Available at airdrop.berachain.com, you need to first bridge from Ethereum to Berachain through nftbridge.berachain.com
- Cross-chain bridge: bridge.berachain.com (supports LayerZero and Stargate).
- Trading inquiries: berascan.com (supported by Etherscan).
- Ecological infrastructure: Including Safe multi-signing, Tenderly debugging, Fireblocks MPC wallet, Pyth oracle, etc., the ecological dApp TVL exceeds US$3 billion.
- Security audit: It has been audited by Spearbit, Nethermind, and Quantstamp, and the vulnerability bounty program has been launched in Immunefi.
Trump Media Group applies to register related trademarks such as “Truth.Fi Bitcoin Plus ETF” and plans to expand financial services
Trump Media and Technology Group (TMTG) has applied to register Truth. Fi-branded exchange-traded funds (ETFs) and independent managed accounts (SMA) trademarks, including the Truth.Fi Made in America ETF, the U.S. Energy Independent ETF, and the Bitcoin Plus ETF. The plan is part of TMTG’s fintech strategy and is expected to receive up to US$250 million in investment and be managed by Charles Schwab. In addition, the company has entered into a service and licensing agreement with Yorkville Advisors, and Yorkville will serve as a registered investment consultant responsible for product design and regulatory advancement. TMTG CEO Devin Nunes said the investment vehicle is designed to provide investors with options that are consistent with the “US First” principle, including bitcoin-related strategies to distinguish it from existing financial products on the market.
Coinbase International will launch Berachain perpetual contract
According to Coinbase International Exchange, the platform and Coinbase Advanced will support Berachain (BERA) perpetual contracts, and the BERA-PERP market is expected to open for trading on February 6, 2025 at or after 17:00 UTC.
Coinbase International Station will launch PENGU, POPCAT, and HNT perpetual contracts
According to Coinbase International Exchange announcement, the platform and Coinbase Advanced will support PENGU, Popcat (POPCAT), and Helium (HNT) perpetual contracts. Relevant markets are expected to open for trading on February 13, 2025 at 9:30 UTC or after.
People familiar with the matter: Crypto exchange Gemini is considering IPO as early as this year
According to Bloomberg, people familiar with the matter revealed that Gemini, a cryptocurrency company backed by the twin brothers of billionaire Winklevoss, is considering an initial public offering (IPO) as early as this year, and the cryptocurrency exchange and custodian are negotiating a listing with potential advisers.
Gemini’s website shows that the company has offices in New York, Seattle, Singapore, London, Dublin and Gurgaon, India, with more than 500 employees.
Trump family crypto project WLFI plans to create a ‘strategic’ token reserve
Chase Herro, co-founder of U.S. President Trump’s DeFi project World Liberty Financial (WLFI), said the platform plans to create a “strategic reserve” with purchased tokens. Herro did not specify what World Liberty’s goals were for holding the token reserve. The topic has attracted much attention since Trump promised to create a token reserve during last year’s campaign. Last month, he signed an executive order calling for an evaluation of the feasibility of creating a digital asset reserve. Donald Trump Jr. appeared at the Ondo Summit at the Jazz Hall at Lincoln Center on Thursday, the president’s latest move to show support for the digital asset industry.
Although World Liberty is billed as a DeFi lending platform, it has not yet started operations. So far, the project has been known for purchasing niche tokens.
Solayer announces LAYER token economics: maximum supply of 1 billion coins, 51.23% allocated to communities and ecosystems
Solana re-pledge platform Solayer announced its token economics for governing token LAYER. The maximum supply of LAYER tokens is 1 billion, and the initial circulation is 220 million. The allocation is as follows: ①51.23% is allocated to communities and ecosystems: 34.23% is used for continuous research and development, developer programs, ecosystem development and other user activities;14% is used for community activities/incentives (12% is reserved for Genesis Drop, which includes rewarding early adopters and other initial application activities);3% is distributed through Emerald Card community sales.②17.11% is allocated to core contributors.③16.66% has been sold to investors.④15% will be allocated to the Solayer Foundation to support product expansion and network development.
Regarding the LAYER Creation Airdrop, the second LAYER allocation is for existing community members who have supported Solayer since its launch in 2024. Solayer reserves 12% of its total supply to Solayer community members, integration partners and liquidity providers, as well as users who qualify as Solayer sSOL and sUSD holders, users who delegate sSOL to AVS partners, users who deposit sSOL or sUSD in collaborative DeFi protocols, users who deposit whitelisted LST (Liquidity Pledged Tokens) on Solayer, users who deposit Solayer through partner and wallet activities, LRT protocols, and other claim plans.
In addition, Solayer said that its core focus is to infinitely expand SVM (Solana Virtual Machine). In 2025, Solayer will introduce the concept of offloading blockchain hardware into programmable hardware chips to achieve unlimited expansion-launch a million-level TPS network, InfiniSVM.
The Ethereum Pectra upgrade will start testing in February and is expected to land on the main network in April
Ethereum developers have officially set a test date for the Pectra upgrade, the network’s first upgrade in 11 months and is expected to be released in April.
Ethereum’s core developers decided during a biweekly “All Core Developers” conference call on Thursday to start testing Pectra on February 26 on the Holesky testnet, followed by follow-up testing on March 5 on the Sepolia testnet. If these tests are successful, developers will meet again on March 6 to determine a time for the official release of the upgrade. According to Tim Beiko, head of protocol support at the Ethereum Foundation, developers expect the upgrade to be available on the main network in early April.
Pectra will include a range of improvements-with a special focus on wallets and verifiers. Pectra is a combination of two separate upgrades, Prague and Electra, and includes eight major improvements to Ethereum. The most anticipated of these is EIP-7702, a proposal aimed at improving the user experience of cryptocurrency wallets, where addresses on Ethereum called externally owned accounts (EOA) will be reconfigured to support smart contract capabilities. Another key feature of Pectra, EIP-7251, will allow verifiers to increase the number of ETH they can pledge-from 32 ETH to 2,048 ETH, and it will also help speed up the setup process of new nodes-current systems cause verifiers to queue for weeks to start new infrastructure.
Sun Yuchen sued David Geffen over the $78.4 million collection, claiming the collection was stolen by his art consultant
Sun Yuchen is filing a lawsuit against billionaire collector David Geffen, seeking the return of the Alberto Giacometti sculpture “Le Nez” that he purchased at Sotheby’s in 2021 for US$78.4 million. Sun Yuchen accused his art consultant Xiong Zihan Sydney of selling the sculpture to Geffen without his knowledge by forging signatures and fabricating lawyers.
Sun Yuchen claimed that he never authorized Xiong to make any transactions, but Xiong still reached a deal with an art dealer through an intermediary between January and March 2024 to exchange two paintings and US$10.5 million in cryptocurrency for sculptures, far below Sun Yuchen’s target price. In addition, Xiong allegedly used part of the cash from the transaction to deceive Sun Yuchen, handing it over to him as a “deposit” for the fictitious buyer, while withholding $500,000. Sun Yuchen didn’t discover this until December last year when he asked about the progress of the transaction.
However, Geffen’s lawyers disputed the accusation, saying it was bizarre and unfounded, suggesting that Sun Yuchen only regretted the original deal. His lawyer pointed out that the transaction was completed through an intermediary, and if Sun Yuchen is now dissatisfied with the transaction his intermediary reached for him, then this is not the basis for filing a claim against Geffen. Sun Yuchen’s lawyers argued that Geffen’s team should have seen clear red flags before trading, especially since the lawyers Xiong allegedly hired handled business through personal Gmail accounts. The lawyer questioned the lawyer’s existence and said Xiong repeatedly forged Sun Yuchen’s signature and fabricated the lawyer’s existence, which was illegal.
Oneness Labs responded: It has become one of its shareholders by acquiring an equity stake in one of Lingkong Games ‘joint ventures
Oneness Labs issued a statement saying: “Regarding the recent false statements made by Lingkong and Mr. Luo Yuxiang himself against Oneness Labs and SHOWA, we hope to clarify the facts and respond to external questions. First of all, in the past four months, the senior management of Oneness Labs, Bell Kong Games, as well as the production team of “Showa Miogatari” have maintained close communication. We have had in-depth exchanges and discussions with the senior management and shareholders of Lingkong Games, including Luo Yuxiang himself, including conference calls and tens of thousands of news exchanges, focusing on the token empowerment model, community management and future development. A long-term and in-depth design. Bell Sky Games has understood the development process of SHOWA from beginning to end. We reserve the right to publish all conversations, recordings and texts.
Secondly, Oneness Labs did become one of the shareholders of Bell Kong Games by acquiring the company’s equity held by Bell Kong Games co-founder Troy Dunniway. The acquisition has been confirmed by Troy Dunniway himself. Denying the identity of Oneness Labs as a shareholder and the legitimacy of SHOWA is malicious and dishonest, and it also seriously damages Oneness Labs ‘rights as a shareholder of Bell Sky. Oneness Labs will immediately resort to law for the reputation and financial harm caused by Lingkong Games and Luo Yuxiang’s actions to Oneness Labs and relevant stakeholders.”
Earlier yesterday’s news, Lingkong Games issued a statement saying that it had never had any commercial cooperation with Oneness Labs and had no relationship with the “SHOWA token”.
Bybit will launch IPUSDT perpetual contract
According to official sources, Bybit will trade the Story (IP) U-standard perpetual contract in pre-market trading at 8 o’clock tonight (UTC+8).
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CZ launched “Should BNB Chain try to eliminate/actively reduce MEV issues?” vote
CZ launched “Should BNB Chain try to eliminate/actively reduce MEV issues?” on the X platform vote. CZ says it hates any type of “early trading,” as is the case with MEVs. In a decentralized world, no one can stop it completely. But there are ways to reduce it.
VanEck: Solana’s SOL token price is expected to reach $520 by the end of 2025
Investment firm VanEck predicts that Solana’s SOL token price will reach $520 by the end of 2025 as demand for smart contract platforms (SCP) grows and the U.S. M2 money supply increases in the coming months. VanEck predicts that by 2025, M2 money supply will grow from the current US$21.5 trillion to US$22.3 trillion. When the U.S. central bank increases M2 through lowering interest rates or quantitative easing, more money moves into circulation, leading to increased liquidity in the economy and encouraging investment in risky assets such as cryptocurrencies.
On the other hand, the SCP Marketplace is an area where platforms such as Solana operate, allowing the creation and execution of smart contracts. VanEck estimates that by the end of 2025, the size of the SCP market could grow by 43% to US$1.1 trillion. Currently, Solana has about 15% of the market, but VanEck expects this to rise to 22% by the end of 2025. The report added: “Using autoregressive (AR) prediction models, we estimate that Solana’s market value will reach approximately $250 billion, based on approximately 486 million tokens in circulation, which means that the price of SOL will reach $520.”
Matrixport: Solana whale is cashing in on earnings, Meme coin hype is ebbing
Matrixport pointed out in the report that many traders may make emotional trading decisions, but Bitcoin always responds rationally to macroeconomic, currency and liquidity events. After Trump won the election in November 2024, Bitcoin and altcoins both surged due to widespread market expectations that he would build strategic Bitcoin reserves and position the United States as a global cryptocurrency center. However, the hawkish tone at the December FOMC meeting suppressed liquidity expectations. Market sentiment remained strong before Trump’s inauguration on January 20, but uncertainty gradually increased since then.
Unlike the new DeFi cycle in the 2020/2021 bull market, the era of memoin and Pump.fun has arrived. The two main beneficiaries of the Pump.fun memecoin craze were Solana and Raydium, but as daily trading activity declined, the hypation-driven momentum quickly subsided. Daily issuance of memoin on Pump.fun has dropped by 16% in the past 30 days, indicating that speculative interest is waning. A key factor contributing to this slowdown is Trump’s memein, which has attracted large numbers of retail investors to buy at unfavorable prices.
Despite the recent surge in Raydium (RAY) prices, a significant trend has emerged: the number of wallets holding more than 10,000 SOL units has dropped sharply in the past two months, indicating that large households are shipping and may curb the continued rise in SOL prices. However, it may also indicate that those early whales that accumulated SOL before the late 2023 memein cycle are now cashing in and reallocating their earnings to Bitcoin. This round of action could explain why Bitcoin remains resilient despite the overall correction in the Sansepiin market.
important data
The U.S. Bitcoin Spot ETF had a total net outflow of US$140 million yesterday, and the ETF net asset ratio reached 5.91%
The total net inflow of the U.S. Ethereum Spot ETF yesterday was US$10.6519 million, a net inflow lasting for six days
A whale made a profit of $589,000 by shorting BERA in less than 2 hours
According to Lookonchain Monitoring, after BERA went public, a whale made a profit of US$589,000 by shorting BERA in less than 2 hours. The whale deposited 1.6 million USDC with Hyperliquid 16 hours earlier and shorted BERA for approximately $13. He then closed his position and withdrew 2.19 million USDC, making a profit of $589,000.
A giant whale sold 8500 ETH in nearly an hour in exchange for 23.25 million DAI
According to Lookonchain monitoring, in the past hour, a giant whale sold 8,500 ETH units at an average price of US$2,736 in exchange for 23.25 million DAI units.
