CoinRank Crypto Digest: January 07, 2025

1. MicroStrategy’s BTC Holdings Surge to $45.87B, Posts $17.9B in Unrealized Gains

MicroStrategy founder Michael Saylor has shared an updated Bitcoin Tracker visualization, noting “this all started with a single green dot.” The tracker shows that MicroStrategy’s Bitcoin holdings are now valued at $45.87 billion, with unrealized gains exceeding $17.9 billion (+64.08%). Historically, each green dot on the tracker represents a Bitcoin purchase by MicroStrategy, with the BTC price trend shown in blue. Following past patterns, the company typically increases its Bitcoin holdings the day after such announcements.

2. 20 Strategic Bitcoin Reserve Bills Set to Be Introduced Across U.S. State Legislatures

Dennis Porter, co-founder of Satoshi Action Fund, announced on X that up to 20 “Strategic Bitcoin Reserve” bills will be introduced at the state level across the United States, with multiple bills per state. Legislators are competing to be the first in history to pass such legislation. The majority of these bills will be based on Satoshi Action Fund’s SBR model.

3. Gemini Reaches $5M Settlement with CFTC Over Bitcoin Futures Misconduct

Gemini Trust, led by Cameron and Tyler Winklevoss, has agreed to pay $5 million to settle charges from the U.S. Commodity Futures Trading Commission (CFTC) regarding misleading statements made to regulators. Under the consent order signed Monday, the company agreed to settle without admitting or denying the allegations. The CFTC sued Gemini in June 2022 for making “materially false or misleading statements” between July and December 2017 during the evaluation of bitcoin futures contracts, specifically concerning whether the proposed contracts were “susceptible to manipulation.”

4. Crypto-Advocate Poilievre Leads Canadian PM Race with 92% Probability Following Trudeau’s Exit

Following Trudeau’s announcement to step down as Liberal Party leader and Prime Minister after a new leader is chosen, prediction market Polymarket shows crypto-friendly Pierre Poilievre with a 92% chance of becoming Canada’s next Prime Minister. Poilievre, who was previously elected as the Conservative Party’s new leader, has been an outspoken Bitcoin supporter. He has publicly stated his vision to make Canada “the blockchain capital of the world” and pledged to fire the central bank governor, audit central bank activities, and halt CBDC development during his tenure as Prime Minister.

5. Tether Prepares for $1B USDT Chain Swap to Tron Network

Tether has announced plans to coordinate with a prominent third-party exchange to perform a chain swap in the coming hours, converting approximately $1 billion worth of USDT across different blockchains to USDT on Tron. The company has confirmed that the total USDT supply will remain unchanged during this process.

NOON NEWS

1. Bitcoin ETF Inflows Triple December Mining Production, Absorbing 51,500 BTC

U.S. spot Bitcoin ETFs accumulated approximately 51,500 bitcoins in December, nearly triple the monthly mining production of 14,000 bitcoins, according to average data from Apollo and BiTBO.

2. Nvidia Unveils Nemotron Language Model and Cosmos World Model for Physical AI

Nvidia CEO Jensen Huang has announced the launch of Nemotron, a complete model series based on Llama, and NVIDIA Cosmos, a foundation model designed to understand the physical world. Cosmos, trained on 20 million hours of video, can generate virtual world states from text, image, or video prompts, specifically targeting autonomous driving and robotics applications. Developers can use Cosmos to generate AI feedback for reinforcement learning, improving policy models and testing performance across different scenarios. Nvidia is collaborating with global developers to advance the next wave of physical AI.

3. Ripple CEO: Company’s XRP Holdings Exceed $100B, Previous $11B Valuation “Severely Outdated”

Brad Garlinghouse, Ripple’s CEO, has stated that the company’s previous $11 billion valuation is now “severely outdated” given the significant increase in XRP price and growing demand for Ripple’s blockchain solutions. The company holds substantial XRP currently valued at over $100 billion. Garlinghouse compared Ripple’s valuation metrics with MicroStrategy, noting their different market-to-asset value ratios. He also highlighted recent regulatory shifts, with 95% of Ripple’s clients being outside the U.S., though he expects renewed U.S. interest in coming months.

4. U.S. Listed Bitcoin Miners Raise $3.7B for BTC Purchases Since November 2023

Major U.S. bitcoin mining companies including Marathon Digital, Riot Platforms, and CleanSpark have raised over $3.7 billion since November 2023 to purchase bitcoin, primarily through near-zero interest convertible notes. Industry experts warn about increasing competition for resources, particularly from AI developers. Core Scientific’s CDO Russell Cann predicts most bitcoin mining capacity will move overseas, with companies like Marathon Digital planning to relocate 50% of operations to energy-abundant regions like Kenya, UAE, and Paraguay by 2028.

5. Grayscale: Key U.S. Regulatory Appointments in January Critical for Crypto Markets

Grayscale Research reports that the U.S. Senate will begin considering nominations for key positions including Treasury Secretary, Commerce Secretary, SEC Chair, and CFTC Chair in early January. While crypto-related legislation is expected to be reviewed by the next Congress, Grayscale notes this may be delayed until after tax and other priority issues are addressed.

EVENING NEWS

1. Bitcoin Miners Follow MicroStrategy’s Lead on BTC Reserves Amid ‘Trump Effect’

Major bitcoin miners like Marathon Digital and Riot are following MicroStrategy’s strategy of increasing bitcoin reserves through convertible bonds. Marathon Digital CEO Fred Thiel cited the “Trump effect” as motivation for continued U.S. investment, with the company now holding nearly 45,000 BTC worth over $4.4 billion. The industry has allocated approximately $1.8 billion for bitcoin purchases in the past two months. Hut 8 CEO Asher Genoot positions his company as an “energy infrastructure” group with bitcoin as its financial foundation.

2. OCBC Bank Launches Blockchain-Based Tokenized Corporate Bond Solution

Singapore’s second-largest bank, OCBC, has introduced a blockchain-based tokenized corporate bond solution enabling business clients to invest in customizable bonds with investments starting from SGD 1,000. The program offers flexible terms and rates, with tokens referencing existing investment-grade bonds.

3. Bitcoin Breaks $100K on ETF Inflows and MicroStrategy Purchases, Analyst Says

BRN’s Chief Analyst Valentin Fournier attributes Bitcoin’s breakthrough to $102,750 to $1.1 billion in ETF inflows, reflecting renewed institutional confidence. MicroStrategy’s additional $100 million Bitcoin purchase further boosted market sentiment, though at a more cautious pace. However, Fournier notes Ethereum’s stagnation below $4,000 suggests limited bullish momentum.

4. Gary Gensler’s SEC Chair Tenure Enters Final Two Weeks

SEC Chairman Gary Gensler is set to step down on January 20, 2025, with just 13 days remaining in his tenure. President-elect Donald Trump has announced plans to nominate Paul Atkins as the next SEC Chairman via Truth Social platform.

5. Binance CEO Pledges Major Compliance Investment as Strategic Advantage

Binance CEO Richard Teng has announced plans for substantial investment in compliance measures, positioning it as a competitive advantage. Teng also highlighted the exchange’s remote-first policy as a strategic benefit that enhances organizational productivity across all levels.