Good Morning,

Markets just bounced back in less than 48 hours from a liquidation bigger than Luna and FTX… is the altcoin bull run approaching 🐂 👀

Here's a quick preview of today’s content: $2.1B liquidated from crypto markets in one day but tides shifted after tariff news dropped, Kalshi and Crypto.com might be under heat with upcoming Super Bowl predictions offerings, India looks to review its regulatory approach for crypto, a 22 year old was just indicted for a $65M hack, and much more.

Happy Tuesday, the week is just beginning. Let’s dive in.

Market Snapshot

• After a disastrous Sunday for crypto markets, token prices bounce back with Bitcoin crossing back above $102k and Ethereum hitting $2.9k

• What caused the bounce back?

  • Trump yesterday morning agreed to a 30-day pause on his tariff threats against Mexico and Canada as America’s two largest trading partners took steps to appease his concerns about border security and drug trafficking

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Trump’s tariff announcement sparked $2.1B in crypto liquidations and sank Bitcoin 5% (DC) 

• Eric Trump tweeted “In my opinion, it’s a great time to add $ETH. Thank me later” then ended up deleting/editing it two more times - see all the revisions here

• David Sacks, U.S. crypto czar to hold press conference today to ‘secure America as a leader in digital assets’ (CN)

• ByBit CEO believes that recent crypto liquidations could range from $8B-$10B (CS) 

• FTX said on Friday it had resolved a lawsuit it brought last year against K5 Global, a venture capital firm co-founded by a former aide in Hillary Clinton's office (RT)

• Tokenized real-world assets hit an ATH market cap of $17.1B (TD)

• Robinhood partners with Kalshi for Super Bowl bets (FOS)

• The CFTC is probing whether Crypto.com and Kalshi’s Super Bowl event contracts comply with derivatives regulations (BBG) 

• A 2x leveraged Ether ETF dove 46% due to Ether’s 35% drop over the weekend (BBG)  

• US Marshals ignore Senator Cynthia Lummis’ deadline to explain what happened to the Bitcoin from Silk Road (DH)

• Kraken secures a MiFID license to offer crypto derivatives trading in the EU (CS) 

• Coinbase obtains its VASP registration in the UK to become the country’s largest registered digital assets provider (CB)

• South Korea’s Bitcoin Kimchi Premium surges to a three-year high of 12% (CS) 

• Chainlink unveils its DeFi Yield Index as it seeks to become the crypto’s leading index provider (TD) 

• Trump’s World Liberty Financial denies that it is selling tokens (CT) 

• Crypto trading platform Uphold restarts staking services in the UK (CT) 

• Bitcoin ordinals marketplace Bioniq unveils Odin.fun, a Runes marketplace and launchpad inspired by Solana’s Pump.fun (TD) 

Venture Capital

• Steve Yun of TON Foundation launches VC TVM Ventures with an inaugural $100M fund (TB) 

• Mighty Bear Games raises $4M from Framework and Ton Ventures for its AI gaming platform Goat Games (VB)

• Decentralized data analytics provider Ozak AI raises $750K in its pre-sale (FN)

• Decentralized finance asset management platform UFarm.Digital raises $500K in early seed funding (FN)

• Israeli fintech BitStock raises an additional $400k for its ‘Ten Best Coins’ index (TA)

Regulation

• India will reconsider its approach to crypto due to global regulatory shifts (CP)

• Russia plans to introduce a mandatory nationwide registry for crypto mining equipment (CS)

Cybersecurity

• U.S. prosecutors charged a 22-year-old Canadian man with stealing a combined $65M in crypto through two separate DeFi hacks (CD)

• Coinbase users lose over $300M annually due to social engineering scams (CS) 

• 22 year old Andean Medjedovic is indicted for exploiting KyberSwap and Indexed Finance to steal $65M (CS)

• Crypto exchange Xeggex CEO has crypto account hacked (CP)

• January hacks reached $73M, 9x from December (CR)

Extra Reads

• The U.S. crypto craze has created an irregular perspective of crypto

  Here’s 10 countries where crypto is still banned

Chart of the Day

Daily BTC transactions reach lowest level in 11 months as price-to-transactions gap widens

Meme Dump

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