The past 7 days have truly been a historic week for the cryptocurrency market, as for the first time in history, a US President has publicly supported crypto. Immediately after taking office, President Trump began implementing his commitments, such as establishing a crypto advisory council and discussing the possibility of creating a digital reserve fund, as well as reforming the SEC and gradually forming a legal framework.

Bitcoin set a new record high during the days leading up to Trump's inauguration, while Ethereum sank deeper into crisis as the Ethereum project community continued to argue with the Ethereum Foundation leadership.

The past week also saw many new developments from organizations seeking to establish crypto ETFs, Binance Labs changing its name, and CZ's return, crypto hacks returning with an attack worth up to $70 million, major institutional Bitcoin purchases,...

Let's review all the crypto movements this week with Coin68 to make sure you don't miss any important news!

Price fluctuations of the top cryptocurrencies compared to 7 days ago. Screenshot taken from TradingView at 07:20 AM on January 26, 2025

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📄 News Highlights

Highlights 🔥

- Donald Trump Inaugurated as US President:

• Donald Trump Does Not Mention Crypto on First Day as US President
• President Trump Signs Executive Order to Establish Crypto Advisory Council, Considers Strategic Digital Reserve Fund
• Trump's DeFi Project Completes $300 Million WLFI Token Presale, Releases Additional 5% of Total Supply and Purchases Over $112 Million in Crypto
• President Trump Appoints New Acting Chairs for SEC and CFTC, SEC Establishes Crypto-Focused Division
• President Trump Pardons Silk Road Founder Ross Ulbricht
• President Trump Speaks Out About Memecoin Bearing His Name for the First Time

-Bitcoin Sets New ATH at $109,000 with $1.2 Billion in Liquidations Ahead of Trump's Inauguration

- Bitcoin Purchases: MicroStrategy ($1.1 Billion), El Salvador ($1 Million), KULR ($8 Million)

- Binance Labs Rebrands to YZi Labs, CZ Returns

- Phemex Exchange Hacked, Suffers $70 Million Loss

Big Cap 💎

- BlackRock CEO Predicts Bitcoin Price Could Reach $700,000, Billionaire Ray Dalio Reveals He Still Holds "a Little" Bitcoin

- Ethereum Foundation Will Allocate 50,000 ETH to Participate in DeFi, Considers Staking ETH Holdings, Defended by Vitalik Against Harassment

- Vitalik Buterin Shares Ethereum Expansion Strategy for 2025

- Solana Network "Surging" Due to TRUMP and MELANIA Memecoins

- Justin Sun Proposes Revamping Ethereum, Aiming to Increase ETH Price to $10,000

- TON Becomes the Exclusive Blockchain for the Telegram Ecosystem

- BNB Chain Burns $1.16 Billion in its 30th BNB Burn

- USDC Market Cap Doubles Compared to 2023 Thanks to Solana

- US Court Overturns Tornado Cash Sanctions, TORN Surges 200%

- VINE Memecoin "Officially" Reaches $250 Million Market Cap in Half a Day

- Fundraising:

DeFi and Layer 2 🦄

- Jupiter Conducts Second Airdrop, Distributing 700 Million JUP

- Linea Excludes Over 500,000 Sybil Wallets from Airdrop

- ZachXBT "Rug Pulls" Nearly $4 Million, Laments "Can't Make Money" On-Chain

- THORChainfalls into crisis, RUNE price plummets

NFT, GameFi, Metaverse and SocialFi 🖼 🎮🌐

- Social network Clouton Solana explodes on launch day

Major organizations 💰

- Coinbasemay delist USDT if Tether does not meet US regulations

- BlackRockproposes to transfer Bitcoin in ETF directly to investors

- Bitwise files an application to register an ETF for Dogecoin

- Grayscale and CoinShares file an application to establish an ETF for XRP, Litecoin and Solana

- Osprey and REX file an application to establish 7 crypto ETF funds, including the memecoin TRUMP

- Tethercollaborates with Medoo to launch the Blockchain Academy in Vietnam

Legal and Adoption ⚖️

Summarized by Coin68