Sunil Kumar
@sunil12349
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The crypto market rebounded Monday evening as Bitcoin briefly surpassed $102,000, following weekend volatility sparked by AI firm DeepSeek's breakthrough announcements.
Bitcoin is hovering above $102,000, though it's still down about 6.5% from January 20’s all-time high, near $109,000, CoinGecko data shows.
A "noticeable recovery" can be seen "as investors seem to be reallocating to their favorite crypto assets" in a trend that's "driven by optimism about the long-term impact of AI democratization on the market," Dominick John, an analyst at Kronos Research, told Decrypt.
Seminal meme crypto Dogecoin, which, on Monday, suffered its worst daily performance since the year began, is up 2.6% to $0.33, while other top performers include BNB and XRP—up 3.6% and 3.2%, respectively. 0 reply
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News
Markets
Bitcoin Sinks Below $100,000 as Trading Volume Explodes
Maelstrom Fund CIO Arthur Hayes predicts BTC could drop as low as $70,000 before an eventual rise to $250,000 this year.
Vince Dioquino
By Vince Dioquino
Jan 27, 2025
3 min read
Source: Shutterstock
Source: Shutterstock
Bitcoin's trading activity exploded on Monday with volume surging 222% to $55.3 billion, as Maelstrom Fund CIO Arthur Hayes predicted a sharp correction that could drag the price as low as $70,000 before an eventual rise to $250,000 this year.
The alpha crypto is currently trading just a smidge above the $99,000 level, down 8.67% from its January 20 all-time high of roughly $108,000, data from CoinGecko shows.
Meanwhile, forced liquidations in the crypto derivatives sector spilled out some $850 million in the past 24 hours, with long positions accounting for the majority of losses, Coinglass data shows. 0 reply
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Chinese AI researchers have achieved what many thought was light years away: A free, open-source AI model that can match or exceed the performance of OpenAI's most advanced reasoning systems. What makes this even more remarkable was how they did it: by letting the AI teach itself through trial and error, similar to how humans learn.
“DeepSeek-R1-Zero, a model trained via large-scale reinforcement learning (RL) without supervised fine-tuning (SFT) as a preliminary step, demonstrates remarkable reasoning capabilities.” the research paper reads.
“Reinforcement learning” is a method in which a model is rewarded for making good decisions and punished for making bad ones, without knowing which one is which. After a series of decisions, it learns to follow a path that was reinforced by those results.
Initially, during the supervised fine-tuning phase, a group of humans tells the model the desired output they want, giving it context to know what’s good and what isn’t. This leads to the next phase, 0 reply
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Ethereum Creator Vitalik Buterin: Politician-Issued Coins 'Perfect Bribery Vehicle'
The Ethereum
Ethereum founder Vitalik Buterin has criticized cryptocurrencies issued by politicians as “a perfect bribery vehicle.”
“If a politician issues a coin, you do not even need to send them any coins to give them money,” Buterin explained in a tweet. “Instead, you just buy and hold the coin, and this increases the value of their holdings passively.”
He added that one of the reasons these “politician coins” are potentially excellent tools for bribery is the element of “deniability.”
The Ethereum founder explained that holding a cryptocurrency has the twin financial effects of “donating to the issuer,” by indirectly increasing the value of their holdings, and “gambling,” as you have a chance of your stake going up. Therefore, Buterin said that people can donate to coin issuers while falsely claiming, when asked, that they are merely speculating or “gambling” on the cryptocurrency. 0 reply
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Trump Pardons Former Silk Road Founder and Bitcoin Icon Ross Ulbricht
Those who convicted Ulbricht were "some of the same lunatics involved in the modern-day weaponization of government against me," Trump wrote Tuesday.
Jason Nelson
Sebastian Sinclair
By Jason Nelson and Sebastian Sinclair
Jan 22, 2025
3 min read
President Donald Trump announced Tuesday a pardon for Ross Ulbricht, ending the Silk Road founder’s more than decade-long imprisonment.
In a social media post on Truth Social, Trump said he had granted Ulbricht a "full and unconditional pardon," citing support from the Libertarian movement and criticizing the government’s handling of Ulbricht’s case.
From 2011 to 2013, Ulbricht operated the Silk Road marketplace, going by the nickname Dread Pirate Roberts.
Prosecutors said the site served over 100,000 buyers, facilitating illegal drug sales and laundering hundreds of millions of dollars. According to the FBI, the Silk Road made $13 million in Bitcoin through commissions. 0 reply
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News
Law and Order
Treasury Pick Scott Bessent to Divest BlackRock Bitcoin ETF Before Trump's Inauguration
Scott Bessent will also resign from Key Square Group, the hedge fund he founded, to avoid conflicts of interest if the Senate confirms him.
With just a week to go before President-elect Donald Trump’s inauguration, Scott Bessent, the billionaire hedge fund manager and nominee for Treasury Secretary, is preparing to divest various assets, including his stake in BlackRock’s Bitcoin ETF (IBIT).
The divestment follows Federal ethics guidelines, which require nominees to sell specific holdings within 90 days of Senate confirmation to prevent conflicts of interest.
BlackRock’s Bitcoin ETF, managing over $50 billion in assets, is the world’s largest spot Bitcoin fund and one of the most closely watched investments in Bessent’s portfolio.
The crypto community welcomed Trump’s Treasury Secretary nominee in late November, mainly due to Bessen’t IBIT stake, valued between $250,001 and $500,000. 0 reply
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The high-stakes trial of Terraform Labs co-founder Do Kwon is scheduled for January 26, 2026, in the U.S. District Court for the Southern District of New York. He'll spend the next year in federal jail, after his lawyers consented to his detention.
The trial, expected to last four to eight weeks, will address criminal fraud charges tied to the catastrophic $40 billion collapse of the TerraUSD (UST) stablecoin and its sister token LUNA in 2022.
This case is a culmination of international legal battles, financial ruin, and allegations of deceit that dismantled the promises that once captivated millions of crypto investors.
Do Kwon, who pleaded not guilty to the charges last week, has been accused of multiple counts of fraud, including securities fraud, wire fraud, and conspiracy to commit money laundering. 0 reply
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Law and Order
North Dakota Considers Crypto Reserve as State Bitcoin Treasuries Gain Momentum
Legislators in North Dakota will weigh whether to diversify its assets with crypto and precious metals, following other state Bitcoin proposals.
Jason Nelson
By Jason Nelson
Jan 11, 2025
North Dakota is the latest U.S. state to consider including Bitcoin in its balance sheets. On Friday, the North Dakota State Legislature introduced a resolution aimed at investing “select state funds in digital assets and precious metals.”
Resolution 3001 aims to curb the impact of inflation on North Dakota's finances by diversifying the assets the state invests in. North Dakota Representatives Nathan Toman, Matthew Heilman, Jared Hendrix, Daniel Johnston, SuAnn Olson, and Todd Porter, along with Senators Jeff Barta and Bob Paulson, introduced the resolution.
“Whereas changing economic conditions and emerging investment opportunities require prudent investment of the state's financial resources,” the resolution said 0 reply
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