Weekly Crypto Round-up for January 25 – January 31, 2025
An overview of the week's events, updates and movements in the crypto space to stay up-to-date on the most important stories and market-shaping events.
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5min
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Jan 30, 2025
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A comprehensive overview of the week's events, updates and movements in the crypto space to stay up-to-date on the most important crypto stories and market-shaping events.
1. KEY TAKEAWAYS
- US crypto firms expand offerings as Trump takes over
- ECB president ‘confident’ Bitcoin will not enter central bank reserves
- Ethereum developers schedule ‘Pectra’ upgrade, expect it to revitalize chain's performance
- Robinhood plans to launch Bitcoin futures trading amid crypto expansion
- French Prosecutors accuse Binance of money laundering
- SEC grants initial approval for Bitwise Bitcoin and Ethereum ETF
2. CONTENT
💸 The crypto payments landscape in the U.S. is trying to keep up with evolving policies under Trump with major firms fast-tracking crypto adoption with new products. Kraken has launched "Kraken Pay” for seamless crypto transfers directly from exchange accounts, joining other companies like Venmo and Ripple in expanding crypto payment options. With over 300 supported crypto assets, Kraken Pay offers free transfers, though conversions may carry fees.
As regulatory clarity improves, even traditional financial institutions like Bank of America recognize the need to adapt to this growing shift in digital finance.
🌍 Christine Lagarde, President of the European Central Bank (ECB), has made her position on Bitcoin (BTC) rather clear: under her supervision, it will not be included into central bank reserves. She discounted BTC as "not a currency," so supporting the ECB's long-standing assessment that cryptocurrencies are too erratic and lack the support required for monetary stability.
The ECB is still concentrated on creating its own digital alternative—CBDCs (Central Bank Digital Currencies), while nations like El Salvador and some pro-Bitcoin politicians are advocating further BTC acceptance in national reserves. Arguing that CBDCs provide security and stability unlike crypto, Lagarde has regularly supported controlled digital currencies over distributed assets like Bitcoin.
⛓️ Ethereum’s Pectra hard fork, expected to be implemented in early 2025, is a major upgrade aimed at improving scalability, security, and usability. It introduces PeerDAS, a feature designed to make Ethereum wallets more user-friendly and transactions more efficient. The update will also help lower transaction fees and enhance Ethereum’s ability to handle more users without congestion.
This upgrade is part of Ethereum’s broader roadmap to make blockchain technology more accessible and scalable. With improvements to how data is processed and stored, Pectra brings Ethereum one step closer to becoming a faster, more cost-effective network for decentralized applications, NFTs, and financial services.
💲 According to reports, Robinhood is preparing to launch Bitcoin futures trading, which would be a major upgrade of the company's cryptocurrency offerings. By doing this, the platform would be on par with conventional brokerages that provide cryptocurrency futures, enabling regular investors to profit from changes in the price of Bitcoin without actually owning the asset.
In addition to strengthening its position in the crypto market, Robinhood's foray into futures trading can potentially onboard more users seeking sophisticated trading choices as regulatory clarity surrounding crypto derivatives increases.
⚖️ French authorities have accused Binance, one of the world’s largest crypto exchanges, of failing to prevent money laundering. Prosecutors claim the company did not properly check users’ identities or track suspicious transactions, making it easier for illegal money to flow through the platform. This adds to Binance’s growing legal troubles as governments around the world push for stricter crypto regulations to prevent illicit activities.
📊 The U.S. Securities and Exchange Commission (SEC) has given initial approval for Bitwise’s Bitcoin and Ethereum exchange-traded fund (ETF). This marks a significant step toward easier access for investors to both cryptocurrencies through traditional markets. While the approval is not final, it signals growing acceptance of crypto-based financial products. If fully approved, the ETF could open the door for broader institutional and retail investment in Bitcoin and Ethereum.
3. MARKET MOVES
📈 In the last 24 hours, Bitcoin's price moved +2.7% to $104,629k and trading volume moved +19% to $46.3B.
The crypto market remains as dynamic as ever, with new opportunities coming up every day. Whether you’re a seasoned trader, an investor or a beginner, this is your chance to stay ahead in the world of crypto.
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The information does not constitute financial advice or recommendation and should not be considered as such. All content, including opinions and analyses, is intended for educational purposes only. It should not be considered as solicitation or recommendation for any investment decisions. We encourage you to conduct your own research prior to investing.