Employment Scam Recovery
Weekly Crypto News: The New York Attorney General filed a lawsuit to recover $2.2 million lost in a crypto employment scam. Victims in New York were deceived with promises of flexible, high-paying jobs but ended up losing money through fraudulent crypto schemes.
Bitcoin in High Places
Scott Bissent, the next U.S. Treasury Secretary, revealed his Bitcoin holdings through an ETF. His involvement with Bitcoin marks a significant moment for the U.S. financial system.
OpenSea Data Leak
More than 7 million email addresses from OpenSea’s 2022 data breach are now publicly available. This poses a risk of cyberattacks for users.
MicroStrategy’s Bitcoin Stash
Michael Saylor‘s company, MicroStrategy, purchased 2,530 Bitcoin for $243 million. They now hold a total of 450,000 Bitcoin worth $28.2 billion at time of buy.
Source | Microstrategy
Meta Eyes Bitcoin
Meta’s board proposed investing part of its $72 billion cash reserves into Bitcoin. This reflects positive comments on Bitcoin by CEO Mark Zuckerberg.
Coinbase Regulation Request
A U.S. court demanded the SEC clarify why it rejected Coinbase‘s request for crypto-specific regulations. This could signal a shift toward clearer rules for the crypto market.
Trump’s Bitcoin-Friendly Policies
Donald Trump announced plans to repeal SAB 121 on his first day in office. This would allow banks to hold Bitcoin, potentially leading to wider adoption.
Italian Bank Buys Bitcoin
Italy’s largest bank, Intesa Sanpaolo, invested €1 million in Bitcoin, hinting at growing institutional interest.
Inflation and Economic Data
The U.S. Producer Price Index (PPI) came in below estimates, negatively affecting the U.S. dollar. Similarly, Consumer Price Index (CPI) data met expectations at 2.9%.
Whale Activity and Chainlink Partnerships
Crypto whales purchased 1.35 million Chainlink (LINK) tokens in 24 hours. Meanwhile, Chainlink partnered with BTguru in Turkey to promote tokenized assets.
Source | X @ali_charts
AI-Driven Growth
A report from Franklin Templeton predicted AI agents would revolutionize content creation. This boosted interest in AI-related crypto projects.
Source | Franklin Templeton
Malaysia and Crypto
Malaysia’s Prime Minister advocated for Bitcoin adoption, signaling potential shifts toward digital currencies.
Dubai’s Crypto Tower
Dubai announced plans for a 17-story “Crypto Tower,” set to be completed by 2027, symbolizing its role in the global crypto economy.
Stablecoin Growth
USDC trading surged by 78% in 2024, with Brazil’s Nubank offering 4% annual returns on USDC holdings.
Memecoin Scams
Burwick Law announced legal action on behalf of investors defrauded in memecoin schemes, raising concerns over regulatory scrutiny for meme tokens.
Source | X @BurwickLaw
Solana ETF Delays
Despite Solana’s recent price surge, Bloomberg reported Solana (SOL) ETFs might not be approved in the U.S. until 2026 due to ongoing legal challenges.
Litecoin ETF Proposal
Canary Capital submitted a proposal to launch a Litecoin (LTC) ETF, sparking competition among altcoins for ETF approvals.
Federal Reserve Rate Cuts
A US Federal Reserve official hinted at up to four rate cuts this year, potentially rejuvenating the markets.
Trump’s National Crypto Priority
Trump plans to classify digital currencies as a “national priority,” signaling major regulatory shifts.
Source | Bloomberg
Whale Bitcoin Accumulation
Bitcoin wallets holding 100-1,000 BTC saw significant growth, indicating strategic accumulation by large investors.
Source | CryptoQuant
Looking Ahead
From regulatory developments to institutional moves, this week highlighted the increasing integration of cryptocurrencies into global finance and governance. Each development shows how crypto is shaping the future of money, investments, and technology.
Please note, this is not financial advice. Always do your own research (DYOR) before making any investment decisions. For more insights, visit blog.millionero.com, where you can explore detailed articles on the crypto market. When you’re ready, you can trade spot and perpetuals on Millionero‘s secure and user-friendly platform.