Good Morning,

Welcome back to Crypto. No wait. Welcome back to Sum… Never mind, we’re not changing anything.

Here's a quick preview of today’s content: Michael Saylor announces name change for MicroStrategy, Elizabeth Warren wants to work with Trump on crypto, Ethereum continues to struggle even with large institutitonal dollars coming in, Ondo is tokenizing markets, Decentralize platform Jupiter runs into trouble with X account, and so much more.

Let’s talk Strategy. Let’s dive in.

Market Snapshot

• Markets chill out in the middle of the week, with only ETH and XRP moving more than 2% in the Top 10, with ETH down 3.3% and XRP down 3.1% in the last 24 hours

• $TRUMP token regains $4B market cap Wednesday afternoon

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

• MicroStrategy rebrands to just ‘Strategy’ that has many scratching their heads and making memes (BL)

• Elon Musk proposes putting the US Treasury on the blockchain for spending transparency (CT)

• XRP ledger had an approximate 64-minute halt late Tuesday (TB)

• Sen. Elizabeth Warren pledges to work with Trump to end crypto debanking (DC)

• Tiger 21 founder and Chairman Michael Sonnenfeldt said the network of high-net-worth investors holds about $6B in digital currencies (TB)

• Bill Gates made it clear he doesn’t like crypto (X)

• BlackRock acquires $276.2M of Ethereum (DH) 

• FDIC releases 790 more pages of correspondence on firms offering crypto services to clients (CT)

• SEC launches a new Cypto Task Force website (BN) 

• Ethereum’s value against Bitcoin drops to a 4-year low of 0.027 (DC) 

• Application revenues on the Solana network rose 213% in Q4 (CT) 

• DEX and lending protocol Fluid’s weekly volume reaches an ATH of $1.3B (TD) 

• MetaMask now allows users to pay network fees using Ethereum-based tokens (CS) 

• Crypto payment provider Alchemy Pay acquires an Electronic Financial Business registration in South Korea (CT) 

• Pudgy Penguins burned unclaimed Solana airdrop tokens earlier than originally planned, and PENGU's price dipped lower afterwards (DC)

Launches

• Hide the Pain Harold’s PAIN memecoin raises $40M in its initial token presale (TD) 

• Ondo Finance launches its Ondo Global Markets to tokenize stocks and bonds (CS) 

• L2 MegaETH is launching its initial coin offering through a soulbound NFT mint (TD) 

Venture Capital

• Crypto infrastructure startup Reservoir raises $14M in a Series A led by Union Square Ventures (CN) 

• Flashnet, a non-custodial Bitcoin exchange, raises $4.5M led by Abstract Ventures (FN)

• Rho Labs secures $4M seed funding led by CoinFund (RT)

• Framework DAO, Olympus VC, and others back Berachain project Henlo with $3M seed funding (CC)

• Domin Network announces backing from Animoca Brands (DN)

Regulation

• FDIC looks at adjusting guidelines to allow banks to participate in crypto industry (WG)

• U.S. SEC continues internal overhaul moving Jorge Tenreiro, former crypto litigator, to an IT department (WG)

Cybersecurity

• Jupiter posts suspicious token in alleged X hack (BN)

• Dr. Mahathir Mohamad has X account hacked to promote fake ‘official token of Malaysia’ (MSN)

• Scammer with 75k followers takes 160 SOL from followers then deletes all content (SD)

• Crypto hackers stole $73M of crypto in January, a 44% decrease YoY (TV) 

• A former Google employee faces up to 175 years in jail for stealing AI trade secrets (DC) 

Extra Reads

• Inside the Trump family’s $16B crypto empire

  
  Read the full breakdown of the holdings here

• Coinbase forever changed the crypto landscape with it’s retail exchange

  Here’s what they’re focused on with their non-custodial product Coinbase Wallet

Chart of the Day

Strategy (f.k.a MicroStrategy) currently holds 471,107 BTC and looks to continue to do what it does best: buying more

Meme Dump

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