Tom Lee: Bitcoin, Ethereum Got Hit Hard, But The Bottom Is Close

The crypto selloff has been deeper than anticipated, but Tom Lee sees price and timing align for a potential bottom.

Crypto Selloff Deeper Than Expected…

In a CNBC Squawk Box interview on Monday, Lee, head of research at Fundstrat Global Advisors and CIO of Fundstrat Capital, said crypto’s recent decline exceeded expectations despite solid fundamentals.

He attributed the weakness to risk appetite rotating into gold and silver, which surged early in the year and sparked fear of missing out.

That shift, combined with crypto’s strong October performance, left digital assets without leverage or near-term catalysts.

Lee said Fundstrat’s technical advisor sees Bitcoin (CRYPTO: BTC) near $77,000…

Read more on Benzinga

ING Deutschland Opens Retail Access To Bitcoin ETPs

ING Deutschland, one of Germany’s largest retail banks, has begun offering retail clients access to cryptocurrency-linked exchange-traded notes (ETNs) and products, allowing customers to gain exposure to bitcoin and other crypto directly through their existing securities accounts.

According to information published on ING’s website, the products are physically backed exchange-traded instruments issued by established asset managers including 21Shares, Bitwise, and VanEck. 

The instruments track the performance of individual cryptocurrencies and trade on regulated exchanges via ING’s Direct Depot platform, which is typically used for stocks, ETFs, and mutual funds.

The…

Read more on BitcoinMagazine

Ripple Tokenizes $280 Million In Dubai Diamonds—Here’s How It Works

Through a partnership with Billiton Diamond and tokenization firm Ctrl Alt, Ripple-backed custody technology secured $280 million in polished diamonds on the XRP (CRYPTO: XRP) Ledger, the companies announced Tuesday in Dubai.

The Diamond Tokenization Setup

Billiton Diamond and Ctrl Alt moved over AED 1 billion ($280 million) worth of certified polished diamonds on-chain in the UAE. 

Ripple’s enterprise custody tools secure the physical diamonds, while the XRP Ledger creates digital tokens representing ownership.

Adding to its infrastructure push, Ripple secured full Electronic Money Institution approval from Luxembourg’s financial regulator last week, pushing its global regulatory…

Read more on Benzinga

Dogecoin Surges As Elon Musk Says SpaceX Will Put DOGE ‘On The Literal Moon’ Next Year

Dogecoin (CRYPTO: DOGE) is rallying in the wee hours of Tuesday after Elon Musk said his space technology company SpaceX will likely put the memecoin “on the moon” next year.

‘DOGE To The Moon’ Finally?

The dog-themed cryptocurrency was up over 4% over the last 24 hours, outperforming heavyweights such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

The spike comes after Musk, known for his playful endorsements of the meme cryptocurrency, hinted at something major.

The Tesla Owners Silicon Valley X account dug up Musk’s 2021 post that “SpaceX is going to put a literal Dogecoin on the literal moon” and tagged him asking, ‘When?”

“Maybe next year,” Musk responded.

Benzinga

Circle Says It Prioritizes ‘Financial Integrity’ As Prosecutors Reportedly Allege Stablecoin Law Allows Crypto Companies To Gain From Fraud – Circle Internet Group (NYSE:CRCL)

New York’s leading prosecutors raised concerns about the new stablecoin legislation, citing weaker safeguards for fraud victims, according to a Monday report.

Legal Backlash Against Stablecoin Bill?

New York Attorney General Letitia James and four district attorneys signed a letter criticizing the GENIUS Act, reported CNN. They contend that the law lends an unwarranted sense of “legitimacy” to stablecoins, while allowing companies that issue these stablecoins to “avoid significant regulatory requirements” needed to combat financial crimes.

Benzinga sought confirmation from the New York Attorney General’s office on the report.

The prosecutors reportedly said that these…

Read more on Benzinga

Trump Says ‘He Doesn’t Know About’ The Alleged $500 Million UAE Investment In Family’s Crypto Firm: ‘My Sons Are Handling That’

President Donald Trump denied on Monday any knowledge of the alleged $500 million investment by Abu Dhabi’s royal family in World Liberty Financial, his family’s cryptocurrency project.

Trump Denies Involvement

During a press conference at the White House, Trump responded to a question about the controversial deal that’s drawn fierce criticism from his opponents and Democrats.

“Well, I don’t know about it,” he said. “My sons are handling that. My family is handling it, and I guess they get investments from different people, but I’m not.”

Trump stated he’s currently preoccupied with other matters, including Iran, Russia, and Ukraine.

“I don’t know exactly other than,…

Read more on Benzinga

Gold, Silver Rebound; Bitcoin, Ethereum, Dogecoin Also Trim Losses: Why This Analyst Sees 1-2 Years Of ‘Strong Bull Market’ Ahead – Grayscale Bitcoin Mini Trust (BTC) (ARCA:BTC)

Leading cryptocurrencies recovered, alongside stocks and gold, on Monday, as investors showed a higher risk appetite.

Crypto Market Sees Relief Rally

Bitcoin pared some losses Monday, following a brutal sell-off that wiped all of its post-election “Trump rally.” Trading volume for the apex cryptocurrency surged 35%.

Ethereum rebounded but faced heavy resistance at the boundary of $2,400. XRP and Dogecoin also traded in the green.

Over $550 million was liquidated from the market in the last 24 hours, according to Coinglass, with long liquidations accounting for the majority.

Notably, over $300 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rebounds to $85,000.

The…

Read more on Benzinga

US Seizes $400M In Bitcoin, Assets Tied To Helix Mixer

The U.S. government has taken full legal ownership of more than $400 million in seized cryptocurrency, cash, and real estate tied to Helix, once one of the most widely used bitcoin mixing services on the darknet.

A federal judge in Washington, D.C., entered a final order of forfeiture on Jan. 21, transferring the assets to the government following the conviction of Helix operator Larry Dean Harmon. The forfeiture includes thousands of bitcoin, hundreds of thousands of dollars in cash, and an Ohio mansion purchased during the peak of Helix’s operation.

Helix functioned as a cryptocurrency mixer, pooling and rerouting bitcoin transactions to obscure their origins and…

Read more on BitcoinMagazine