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Top 10 News of the Week
1. Trump Imposes New Reciprocal Tariffs, Plans to Appoint a16z Crypto Policy Head as CFTC Chair
1.1 Trump Imposes New Reciprocal Tariffs link
On Thursday, Donald Trump announced a new round of comprehensive reciprocal tariffs, matching the higher tariffs that other countries have imposed on imports of U.S. goods. These tariffs are likely to hit developing countries the hardest, particularly India, Brazil, Vietnam, and other Southeast Asian and African countries, as the tariff rates they impose on U.S. imports are the highest compared to the U.S. For example, World Bank data shows that in 2022, the average tariff rate the U.S. imposed on imports from India was 3%, while India's average tariff rate on U.S. imports was 9.5%.
1.2 Trump Plans to Appoint a16z Crypto Policy Head Brian Quintenz as CFTC Chair link
According to Fox Business reporter Eleanor Terrett, citing three people familiar with the matter, Trump has selected a16z crypto policy head and former CFTC commissioner Brian Quintenz to serve as the chair of the U.S. Commodity Futures Trading Commission (CFTC).
2. 20 U.S. States Propose Bitcoin Reserve Bills, Potentially Driving $23 Billion in Inflows link
VanEck analyst Matthew Sigel analyzes that 20 U.S. states are advancing Bitcoin reserve-related bills, and if all are passed, it is expected to drive $23 billion in capital inflows into the Bitcoin market, equivalent to around 247,000 BTC. The research covers state reserve funds, pension plans, and other state-level investment mechanisms, with some states proposing to use budget surpluses, stabilization funds, and land funds for Bitcoin investments.
3. Bloomberg: Wall Street Banks Bet on Crypto Industry IPO Boom, Expanding Related Businesses link
Top Wall Street banks are optimistic about the development prospects of the Altcoin industry during Trump's potential term and are actively adjusting their strategic layout of Altcoin businesses. Morgan Stanley is vying for potential IPO clients, Bank of America executives are discussing advancing digital asset company transactions, and Royal Bank of Canada plans to expand its scope of Altcoin business after completing its first Altcoin transaction. Currently, several Altcoin companies, including Gemini, Bullish, Circle, and Kraken, are considering IPOs in 2025. Jefferies and JPMorgan are providing advisory for Bullish's potential listing, and Moelis & Co. and Cantor Fitzgerald are also active in this field. The analysis suggests that Trump's supportive attitude towards the Altcoin industry may trigger a new round of IPOs, stock sales, and convertible bond issuance boom.
4. Powell: Fed Not in a Rush to Cut Rates link
Federal Reserve Chair Powell stated that despite pressure from Trump to lower U.S. borrowing costs, the Fed is not in a rush to cut rates. "Given that our policy stance is now much more accommodative than it was, and the economy remains strong, we don't need to rush to adjust the policy stance." Powell said that inflation has eased significantly but "remains elevated." At a Senate Banking Committee hearing on Tuesday, the Fed Chair said the central bank has begun adjusting its regulatory policies to address the "disintermediation" issue in the Altcoin industry and reiterated the Fed's support for a stablecoin regulatory framework, and that it will not issue a digital dollar.
5. Arthur Hayes Article: Memecoins Are the Most Effective Form of Political Advertising link
In his article, Arthur Hayes points out that Memecoins are the most effective form of political advertising because they can serve as viral digital word-of-mouth campaigns. At least in the U.S., the 2026 elections will see a proliferation of new personal political brands created through Memecoins, which will defeat the supposedly unbeatable incumbents. If Altcoin sentiment improves, TRUMP will lead Bitcoin. If politicians believe certain policies will have a positive impact on Altcoins, then TRUMP will surge significantly before the positive news is announced, and then Bitcoin will follow, with TRUMP being on the Altcoin watchlist. If I see it spike or plummet rapidly, then I know something is happening.
6. Binance and SEC File Joint Motion to Pause Litigation for 60 Days link
FOX reporter Eleanor Terrett tweeted that Binance and the U.S. SEC have filed a joint motion to pause the agency's case against the platform for 60 days, citing that the SEC's new Altcoin task force may impact the case. The task force's work may influence and facilitate a potential resolution of the case. After the 60-day period, the parties plan to file a joint status report to determine if further abeyance is necessary.
7. Glassnode: Largest-Ever Altcoin Crash link
Glassnode research indicates that over the past two weeks, the Altcoin market capitalization has declined by $234 billion, with the absolute drop in a few days being even greater. This can reasonably be viewed as an event within the Altcoin bear market. This is one of the largest Altcoin devaluations on record and highlights the clear decoupling between Bitcoin and the typical capital rotation into Altcoins seen in previous market cycles. Many assets have failed to achieve widespread adoption or product-market fit, making the environment more challenging.
8. Binance Significantly Reduced Its Proprietary Altcoin Holdings Last Month, Possibly for Profit Provisioning link
Binance's reserve proof data shows that from January to February 2025, Binance's BTC holdings decreased from 46,896 to 2,747, a 94.1% drop, and its ETH holdings decreased from 216,313 to 175, a 99.9% drop. These assets were mainly the remaining portion after deducting user funds. Currently, most of the assets have been reallocated to the USDC stablecoin, with USDC holdings increasing from 805 million to 1.269 billion, a 57.5% increase. If we look at the January market conditions, most of the coins were at their historical highs. Shenyu believes this change should be related to profit provisioning at the beginning of the year, similar to the situations that occurred in June 2023 (paying fines) and February 2024.
Regarding the "Binance significantly reduced its proprietary Altcoin holdings last month," Binance officially responded that it did not sell any assets. This is just an adjustment to Binance's treasury accounting process. User funds remain safe as always.
9. Coinbase Q4 2024 Results Exceed Expectations, Up 88% Quarter-over-Quarter link
Coinbase's revenue for the fourth quarter of 2024 was $2.3 billion, exceeding the expected $1.87 billion, a quarter-on-quarter increase of 88%; trading revenue was $1.6 billion, a quarter-on-quarter increase of 172%; trading volume reached $439 billion. Subscription and service revenue was $641 million, a quarter-on-quarter increase of 15%. Operating expenses were $1.2 billion, a quarter-on-quarter increase of 19%. Net income was $1.3 billion, including $476 million in unrealized gains on the cryptocurrency asset portfolio. Earnings per share (EPS) was $4.68.
10. Strategy acquires 7,633 BTC for $742.4 million link
MSTR (Strategy) announced that it has acquired 7,633 BTC for approximately $742.4 million, at an average price of $97,255 per BTC, and has achieved a 4.1% return on BTC since 2025. As of February 9, 2025, Strategy holds 478,740 BTC, with a total acquisition cost of $31.1 billion and an average price of $65,033.
Key Financing Events
- Stablecoin company Plasma announced a $24 million funding round link
- Legend recently completed a $15 million funding round led by a16z and Coinbase Ventures link
- Tether announced a strategic investment in Zengo Wallet link
- BingX Labs announced a $10 million strategic investment in StakeStone link
- Crypto AI research company Frodobots Lab completed an $8 million seed round link
- Teneo Protocol announced a $3 million seed round link
- Blum announced a $5 million Pre-Seed and Seed round link
- DeFi project InfiniFi announced a $3 million oversubscribed seed round link
- TaoFi completed a strategic funding round led by DCG to build DeFi on Bittensor link
- B2B product management platform Index announced a $3.5 million seed round link
- Web3 development studio Mirai Labs completed a $4 million seed round link
- Ethereum security platform Drosera raised $3.25 million link
- Crypto startup Coala Pay successfully raised $3.5 million in a seed round link
For more industry financing events, please visit crypto-fundraising.info.
