Crypto Morning Brief: Trump officially becomes the 47th President of the United States; Nillion airdrop claim portal opens
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Crypto Morning Brief: Trump officially becomes the 47th President of the United States; Nillion airdrop claim portal opens
Gary Gensler has officially resigned, and Mark Uyeda will serve as the new SEC Chair.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump sworn in as the 47th President of the United States
On January 21, U.S. President-elect Trump was sworn into office, officially becoming the 47th President of the United States.
Trump family crypto project WLFI announces strategic asset purchases to celebrate inauguration, including ETH, wBTC, and others
The Trump family’s cryptocurrency project, WLFI, announced on X that to commemorate Trump’s inauguration as the 47th U.S. President, it has launched the following strategic purchases with optimism for the future:
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$47,000,000 worth of ETH;
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$47,000,000 worth of wBTC;
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$4,700,000 worth of Aave;
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$4,700,000 worth of LINK;
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$4,700,000 worth of TRX;
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$4,700,000 worth of ENA.
Mark Cuban: Considering launching a meme coin whose proceeds will go directly to the U.S. Treasury
Billionaire Mark Cuban posted on X: "If meme coins are the future, maybe I’ll launch one. But I’d add a twist. Same terms and release schedule as TRUMP: 20% of supply. One difference: all revenue from token sales would go directly to the U.S. Treasury. The wallet address would be public so everyone can track the funds. If you want to gamble, go ahead—but at least help reduce the national debt."
Linea: Identifies 476,000 sybil attack addresses, disqualifying them from airdrop
On January 21, Linea announced completion of an additional sybil analysis targeting LXP holders. Approximately 476,000 addresses showed clear signs of sybil activity and will be added to the existing blacklist, making them ineligible for the LXP token airdrop.
Users who believe they were incorrectly flagged may appeal via a feedback form within the next two weeks (until January 29, 2025, 23:59 UTC). Linea stated this is the final planned sybil review, with the definitive blacklist to be updated by mid-February 2025.
Nillion airdrop registration open until February 4 at 1:00 AM
Privacy computing network Nillion announced the launch of its Alpha mainnet. Users must complete NIL token airdrop eligibility checks and registration by 1:00 AM Beijing Time on February 4, or risk forfeiting their airdrop eligibility. Qualified participants will receive NIL tokens deposited into their claim wallets after mainnet launch.
Gary Gensler officially resigns; Mark Uyeda appointed new SEC Chair
Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), has officially resigned. According to newly released White House appointment documents, Mark Uyeda will serve as the Acting Chair of the SEC.
Uyeda, a Republican, has served as an SEC commissioner since June 30, 2022, and previously worked at the SEC for over 15 years. FOX Business previously reported that Mark Uyeda aims to help Trump fulfill his promise to end the Biden administration’s so-called “war on crypto.”
TRUMP token purchase terms include class-action waiver clause
According to the official website, the TRUMP token purchase agreement includes a class-action waiver. Investors must waive their right to initiate or join any class-action lawsuits against protected parties. Violators will bear associated legal costs. This does not affect investors’ rights to pursue individual arbitration. Investors may opt out of this dispute resolution clause by providing written notice within 30 days of first accessing the site.
"To the fullest extent permitted by law, you agree that you will not commence, join, or participate in any class action lawsuit against any protected party regarding any claim, dispute, or controversy. You agree to injunctive relief to halt such proceedings or remove you from participation. You agree to cover attorneys’ fees and litigation costs incurred by any protected party seeking such relief.
This provision preventing you from initiating, joining, or participating in a class action: (i) does not waive any right or remedy you have to bring a claim individually (not as part of a class action) through binding arbitration as set forth above; and (ii) constitutes a separate agreement. You may choose to opt out of these dispute resolution terms by providing written notice within thirty (30) days of your first visit to the website."
Robinhood to list TRUMP
According to its official website, Robinhood has listed OFFICIAL TRUMP (TRUMP).
Bank of America moves Japan’s rate hike expectation from March to this week
According to Jinshi News, Bank of America has revised its forecast for the Bank of Japan’s interest rate hike, now expecting a 25-basis-point increase to 0.50% at this Friday’s (January 26) policy meeting—significantly earlier than the previously expected March timeline.
Strong inflation data and the likelihood that the BOJ will revise up its inflation forecasts are the main reasons behind the accelerated expectations. Additionally, recent hawkish statements from senior BOJ officials, including Governor Kazuo Ueda and Deputy Governor Ryozo Himino, support this view. Bank of America had initially favored a March hike to allow more time to assess policies of the new U.S. administration.
Circle CEO: Strongly supports repeal of SAB 121, expects executive order soon
According to Reuters, Circle CEO Jeremy Allaire said in an interview at the World Economic Forum in Davos, Switzerland, that President Trump may soon sign an executive order making it easier for banks to hold digital assets. He expects Trump’s pro-crypto order to be issued “shortly,” though he did not specify a date. Allaire specifically criticized the SEC’s Staff Accounting Bulletin 121 (SAB 121), a controversial framework that prevents financial institutions from listing crypto assets on their balance sheets.
Although Congress voted to overturn SAB 121, the resolution was later vetoed by President Biden, who stated, “My administration will not support measures that jeopardize the well-being of consumers and investors.” Allaire and other crypto executives argue SAB 121 does not protect investors but instead hinders adoption of new technology. “SAB 121 effectively penalizes banks, financial institutions, and corporations, even prohibiting them from holding crypto assets on their balance sheets,” Allaire said, adding, “I think this is something that needs close attention in terms of executive action.”
Market Movements
Suggested Reading
Full Text of Trump’s Inaugural Address: The Golden Age of America Begins Now
This is the full transcript of Trump’s January 20, 2025 inaugural speech. In his address, Trump announced a series of executive orders and policies aimed at “Making America Great Again,” including declaring a national emergency at the southern border, comprehensively reforming the trade system, developing fossil fuel resources, and ending political correctness around race and gender. He declared this would usher in a golden age for America, achieve national unity, and restore the U.S. as the world’s leading superpower.
Dollar on the Internet of Value: 2025 USDC Market Economic Report
Circle is building an open technology platform centered on USDC, aiming to deliver network effects and utility similar to those seen in traditional financial services. USDC has already made significant progress, greatly enhancing efficiency, speed, and inclusivity in global commerce and finance.
Wall Street Journal: He Bet Big on Bitcoin and Won Billions
Michael Saylor-led MicroStrategy has accumulated massive amounts of Bitcoin over the past few years, emerging as a key player in the Bitcoin market. This article summarizes Saylor’s investment journey, MicroStrategy’s development path, and explains why they remain so committed to Bitcoin.
This article analyzes the logic behind Trump issuing a meme coin under his name shortly before leaving office. The author argues Trump may aim to hijack or privatize Republican campaign funding through the coin, advancing his political ambitions and pushing U.S. politics toward a new extreme dominated by individuals. Such actions could weaken existing democratic checks and balances, leading American politics down a path of distortion and corruption.
Trump’s Inauguration Resembles a Billionaire Banquet, Total Net Worth Exceeds $1.3 Trillion
Trump’s inauguration attracted numerous tech and business elites with a combined net worth exceeding $1.3 trillion. By inviting top tech executives as guests, Trump highlighted strong support from Silicon Valley, Wall Street, and other sectors. These wealthy figures hope to gain greater benefits under a Trump administration, such as tax cuts and deregulation.
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