Transaction URL: https://whale-alert.io/transaction/solana/4sAYtdo8U2x9sfoSEVnVRQNXeCDNbb4inioY4S2d6iJ1dQggsui871tB7aB4K7AX5vgjFqa4FyJxP6NfmoU8uCt6
- Crunch
- Global
Gelephu Mindfulness City (GMC), a newly established Special Administrative Region in Bhutan, has announced a groundbreaking move to include major cryptocurrencies like Bitcoin (BTC), Ether (ETH), and BNB in its strategic reserves. This pioneering decision makes GMC one of the first jurisdictions globally to officially incorporate digital assets into its economic strategy, enhancing its financial stability and continuing its involvement in bitcoin mining.
Strategically positioned on the land bridge between South Asia’s booming economies, GMC is poised to influence over two billion people in the region. Its focus on blockchain technology supports the SAR’s drive for innovation and technological leadership, aligning with the recently enacted GMC Law No. 1 of 2024. This law establishes a robust legal framework for companies in the digital asset sector, promoting a well-regulated and technologically advanced environment.
Looking ahead, GMC is set to host a high-level meeting in March 2025 with global government and industry leaders to further discuss the role of digital assets in strategic reserves. This initiative underscores GMC’s commitment to fostering the growth of the digital asset ecosystem within a secure and progressive regulatory setting.
Fidelity Digital Assets forecasts a revolutionary uptick in the crypto market as countries are expected to incorporate Bitcoin into their national strategic reserves by 2025. According to the firm’s research analyst Matt Hogan, the move will likely spark considerable growth, drawing on the positive outcomes seen in early adopters like Bhutan and El Salvador. Hogan emphasizes that the risk of not including Bitcoin could outweigh the potential downsides due to escalating fiscal challenges globally.
The momentum doesn’t stop there. Hogan predicts that the adoption of Bitcoin strategies by nations will likely be conducted in secrecy to avoid premature price surges, a strategic move as countries navigate the volatile market conditions. This discreet accumulation could set a new precedent in the management of national reserves.
Moreover, 2025 is poised to be a milestone year for digital assets, with expected breakthroughs in tokenization and structured financial products linked to cryptocurrencies. Hogan suggests that the surge in onchain token value and the mainstreaming of Bitcoin and Ether products will herald a new era in traditional finance, marking a pivotal moment for digital assets worldwide.
This is a segment from the Lightspeed newsletter. To read full editions, subscribe.
Backpack, a crypto wallet and exchange popular among Solana users, has acquired FTX EU for $32.7 million.
In buying the defunct exchange’s European arm, Backpack — which was started by FTX and Alameda alumni — gets access to more than 110,000 former FTX EU users, Backpack CEO Armani Ferrante told me. On top of that, it inherits FTX EU’s European regulatory license that will let European users trade perpetual futures, which are very popular among crypto traders.
Ferrante said the deal was signed back in April of 2024, and Backpack spent the next eight months going through due…
Read more on Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
Core Scientific got a lot of attention in 2024 for its hosting deals with cloud provider CoreWeave.
But Hut 8’s plans to lease data center space to its own — for now unknown — AI hyperscaler may put it in an even stronger position than its rival, one analyst argues.
Various bitcoin miners embarked on revenue diversification efforts last year — particularly after last year’s Bitcoin halving. This included a focus on building out HPC verticals to support AI applications.
CORZ stock shot up roughly 300% in 2024 after emerging from bankruptcy and relisting on the Nasdaq…
Read more on Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
The so-called “Trump effect” on crypto has materialized — at least for one prominent crypto player — in the form of a stateside hiring spree.
Ripple is seeking new pros across all departments. Roughly three-quarters of its open positions are based in the US, including those in its recently expanded San Francisco and New York offices.
Open roles include a general compliance manager and financial systems lead of enterprise performance management in San Fran, as well as a KYC/due diligence specialist in NYC. Also a bunch of engineers.
The pick-up in hiring reflects…
Read more on Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
We got another expected Biden-era cabinet member resignation today: CFTC Chair Rostin Behnam will step down from his position on Inauguration Day and leave the agency altogether in early February.
Behnam, a Democrat nominated to the commission by Donald Trump in 2017, became acting chair after President Joe Biden was inaugurated. He was later confirmed by the Senate in December 2021.
Trump is expected to name either Caroline Pham or Summer Mersinger, both sitting Republican commissioners, as acting chair later this month. He may or may not opt to bring in a new candidate for Senate…
Read more on Blockworks
I’ve been thinking about this a lot lately: Bitcoin Layer 2 foundations need to start holding bitcoin in their treasuries. It makes too much sense for them not to.
And apparently I’m not the only one.
As someone who’s watched this space evolve, let me explain why Bitcoin Layer 2 foundations should listen to Molly and I.
For years, bitcoin was known as “digital rock”—a solid store of value but not much else. But now with the explosion of Bitcoin Layer 2s,…
Read more on BitcoinMagazine