Biton Daily News (January 25th)

Hot News:

1. Bank of Japan raises interest rates by 25 basis points:
   As expected, the Bank of Japan raised its target interest rate by 25 basis points, from 0.25% to 0.50%. This marks the largest rate hike since 2007, bringing the rate to its highest level since October 2008. The central bank has implemented three rate hikes in less than 12 months since resuming rate increases in March last year.

2. Vitalik: Stick to L2 scaling, but L2s must fulfill their promises, such as contributing revenue to support ETH:
   Vitalik published a new article discussing Ethereum’s Layer 1, Layer 2, and future scaling challenges. He argued against abandoning Layer 2 and raising Layer 1 gas limits as a shortcut, as it would harm Ethereum’s current social structure, which supports diverse research and ecosystem development. He emphasized continuing with Layer 2 scaling while ensuring that L2 solutions fulfill their commitments.

Key Data:

1. Altcoins surpass 36.4 million, compared to fewer than 3,000 in 2017-2018:
   On-chain analyst Ali stated on X that there are now over 36.4 million altcoins, compared to fewer than 3,000 during the 2017-2018 altcoin boom and fewer than 500 in 2013-2014.

2. Trump’s crypto project WLFI adds 3,001 ETH and 95 WBTC:
   According to Spot On Chain, Trump’s crypto project, World Liberty Financial (WLFI), spent $20 million to purchase 3,001 ETH and 95 WBTC about two hours ago. In the last five days, the project has invested $210 million, including $119 million for 35,995 ETH at an average price of $3,332 and $66.84 million for 629.1 WBTC at $106,249 each. WLFI now holds a total of 77,818 ETH ($257 million) and 646.72 WBTC ($67.6 million).

Project Updates:

1. SignalPlus completes $11M Series B funding led by AppWorks and OKX Ventures:
   Crypto trading software developer SignalPlus secured $11 million in Series B funding, led by AppWorks and OKX Ventures, with participation from Avenir Group and HashKey. Founded in 2021, SignalPlus offers institutional-grade tools for navigating cryptocurrency derivatives trading. Its products are used by Binance, Bybit, Deribit, OKX, and Paradigm.

2. JuCoin's $JU IEO oversubscribed by $168M, sparking community backlash:
   JuCoin’s platform token $JU completed its first IEO, raising $168.97 million—268 times the original goal of $630,000—with 24,354 participants. Controversy arose as JuCoin did not refund the oversubscribed funds but instead proposed a community vote to price the excess allocation at $26.8 USDT instead of the original IEO price of $0.1 USDT. Many users are demanding refunds, and JuCoin has not responded further.

Other News:

1. Coinbase exec: Trump's crypto and AI executive orders will change fundamentals:
   U.S. President Trump signed executive orders related to cryptocurrency and AI, promoting these industries’ growth. Coinbase VP of U.S. Policy Kara Calvert stated, "This is a fundamental shift—America now has a president embracing digital assets and forming an advisory board that values non-government expertise."

2. MicroStrategy issues redemption notice for $1.05 billion in notes:
   MicroStrategy announced a redemption notice to repay $1.05 billion in principal notes. Bondholders can convert at a rate of 7.0234 shares of common stock per $1,000 face value before February 20, 2025.

3. Cynthia Lummis to collaborate with FDIC VP to end crypto crackdowns:
   U.S. Senator Cynthia Lummis stated on X that she will work closely with FDIC Vice Chair Travis Hill to end crypto industry crackdowns, following deeper insights into “Operation Chokepoint 2.0.”

4. Berkshire Hathaway gradually embracing crypto:
   Despite CEO Warren Buffett's past disdain for crypto, Berkshire Hathaway has invested millions in Brazil's Nu Holdings Ltd., a bank supporting crypto platforms, with shares up 34% year-over-year.

5. U.S. Senate Banking Committee to hold "de-banking" hearing on Feb. 5:
   The Senate Banking Committee will hold its first-ever hearing on the “de-banking” of crypto companies, focusing on the challenges they face in maintaining banking relationships.