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Wall Street’s biggest banks are finally backing Trump’s pro-crypto agenda after his new executive order cleared regulatory hurdles. Trump stacked his administration with crypto advocates, like SEC pick Paul Atkins and Treasury nominee Scott Bessent, to drive his plans. The SEC scrapped its restrictive accounting rule, SAB 121, letting banks hold crypto without the crushing capital requirements.
TRUMP token’s decline from its $79 peak reflects waning interest and trading momentum. Can breaking $34 spark a sustainable recovery?
Deciphering Bitcoin's Market Behavior: Crucial Price Points under the Microscope as Financial Experts Brace for FOMC Decision
XRP's Surprising Performance: A Disruptor to U.S. BTC Reserves or Speculation Bubble in the Making?
Major token unlock events are scheduled next week for Optimism and other projects, releasing previously blocked tokens under fundraising terms. These events can lead to price volatility based on market conditions and investor reactions.
Quick Take This is an excerpt from the 20th edition of The Funding sent to our subscribers on Jan. 26. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Quick Take The Metropolitan Museum of Art has launched a new blockchain-powered game in conjunction with TRLab that rewards players for finding connections between different works of art with NFT badges and a chance to win one of 500 Met-related prizes. The Met’s first foray into blockchain and NFT technology has the goal of deepening audience engagement with the museum’s works.
- 02:58Paxos releases PYUSD transparency report for January 2025: Total token circulation drops again to approximately $482 millionGoldFinance reports that Paxos has released the PYUSD transparency report for January 2025, unveiling unaudited data related to the stablecoin PYUSD, including: The total outstanding tokens decreased again, reaching $482,747,103. The total value of U.S. Treasury bonds in reverse repurchase agreements is currently estimated at $464,985,360, with a nominal position value of about $455,868,000. The current market value of collateral in cash deposits is approximately $28,588,701, with a nominal position value of the same amount. The current market value of collateral in total net assets is $493,574,061, with a nominal position value of $484,456,701.
- 02:57Trump: DeepSeek is a very positive development, not a bad thingPANews reported on February 8th, according to the financial world, US President Trump expressed his views on DeepSeek and whether it constitutes a national security threat. He stated that this is a developing technology and if developed correctly, we will benefit from it because the cost of artificial intelligence involved now will be much lower than people initially imagined. This is a good thing. Trump emphasized that he sees this as very positive development rather than something negative.
- 02:49Story Protocol announces token economic model, 58.4% will be allocated to the communityPANews reported on February 7 that The Block reported that the Layer 1 network Story Protocol, supported by a16z, announced the economic model of its native token IP to support the upcoming mainnet launch. The initial supply of IP tokens is 1 billion, of which 58.4% will be allocated to the community (including initial incentives, ecosystems, and foundations) to ensure broad participation and decentralized ownership. 21.6% will be allocated to early investors and 20% to core contributors. In addition, the initial unlocked supply is set at 25%. Officials said that the staking mechanism will follow the "fair launch principle" and will not provide additional rewards for foundations or early contributors. All community members can obtain staking income simultaneously. Story Protocol was developed by PIP Labs and completed a $80 million Series B financing in August last year, led by a16z, with participation from Polychain Capital, Stability AI director Scott Trowbridge, and K11 founder Zheng Zhigang.