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

• Tether transferred 8,400 BTC (worth $780M) to its corporate reserves, marking its largest Bitcoin addition since March 2024.
• Ether ETFs brought in $2.6B in December, highlighting continued institutional interest.
• Binance becomes Brazil's first cryptocurrency platform to hold a securities brokerage license.
• BlackRock’s Bitcoin ETF outperformed competitors, leading in 2024 net inflows with US spot Bitcoin ETFs now holding 1,125,698 BTC, accounting for nearly 6% of the total Bitcoin supply.
• Crypto projects raised $13.6B in 2024, with funding expected to grow to $18B by 2025.
• El Salvador now holds 6,000 BTC, valued at $569M, doubling down on its Bitcoin strategy.

2. CONTENT

💰 Tether, the issuer of the world’s most widely used stablecoin USDT, has significantly boosted its Bitcoin reserves with a $780 million purchase—the largest since March. On December 30, Tether received two transfers totaling 8,404.5 BTC, bringing its total holdings to 83,759 BTC, valued at nearly $7.75 billion.

This move reflects Tether’s ongoing commitment to allocate up to 15% of its net realized profits to Bitcoin, a strategy announced in May 2023. Tether now holds the second-largest Bitcoin reserve among private companies, just behind Block.one, and ranks third globally when including public companies like MicroStrategy.

💵 Ether exchange-traded funds (ETFs) saw net inflows surpass $2.6 billion in December, continuing an eight-week streak of positive momentum, according to Farside Investors. November’s record-breaking $2.2 billion week helped fuel Ether ETFs' growth, though they still trail Bitcoin ETFs, which amassed $35 billion in net inflows by the end of 2024.

BlackRock’s iShares Ethereum Trust led with $3.5 billion in 2024 net inflows, followed by Fidelity Ethereum Fund at $1.5 billion. However, $3.6 billion in outflows from Grayscale’s Ethereum Trust partially offset gains. Analysts predict 2025 could see Ether ETFs narrow the gap, driven by potential staking yields and ETH’s stronger performance in recent months.

🌎 Leading crypto exchange Binance has secured approval from Brazil’s Central Bank to acquire Sim;paul, a licensed broker-dealer, marking its 21st global regulatory milestone. This makes Binance the first crypto exchange with a broker-dealer license in Brazil, allowing it to expand into securities distribution and EMI issuance.

The approval highlights Binance’s dedication to compliance with AML and CFT standards, reinforcing its growing presence in Latin America’s largest economy. CEO Richard Teng hailed the move as a major step toward deeper integration with Brazil’s financial sector, emphasizing the company’s focus on bringing innovative services to the country’s thriving crypto community.

📊 BlackRock’s iShares Bitcoin Trust (IBIT) saw record outflows of $332.6 million on January 2, marking its largest withdrawal since launch. This extends a three-day streak of redemptions, with total outflows for the past week reaching $392.6 million, according to Farside Investors.

Despite the downturn, Bitcoin ETFs saw significant overall growth in 2024, with U.S. spot Bitcoin ETFs recording $35.66 billion in net inflows. BlackRock’s IBIT led the market with $37.31 billion in inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $11.84 billion and ARK’s 21Shares Bitcoin ETF (ARKB) with $2.49 billion.

As the market saw $1.33 billion in outflows since December 19, analysts anticipate renewed interest in 2025.

💲 Crypto funding in 2024 reached $9.33 billion, closely mirroring 2023 but with notable shifts in deal types and targets. While overall growth remained minimal, venture capital (VC) strategies blended early-stage seed rounds with private and undisclosed funding. Animoca Brands emerged as a key player, participating in 106 rounds and leading 20, making it the most active VC in the space.

A total of 1,535 projects were disclosed, marking a 26.1% year-over-year increase. Despite lower funding levels compared to 2022’s peak, projections suggest funding could rise to $18 billion in 2025 as market activity rebounds.

🌎 El Salvador has surpassed 6,000 Bitcoin in its treasury, becoming the sixth country to hold such reserves –a testament to growing regulatory interest and adoption of digital assets. On December 29, El Salvador added 1 BTC to its holdings, bringing the total to 6,000.77 BTC—valued at $569.3 million. This marks a 108% return on investment, with the country acquiring Bitcoin at an average price of $45,450.

Since first purchasing 200 BTC in September 2021, El Salvador has steadily increased its holdings, often buying 1 BTC daily. Despite IMF concerns, the Bukele government remains committed to Bitcoin as a national strategy, with plans to accelerate purchases in the future.

3. MARKET MOVES

📈 In the last 24 hours, Bitcoin's price moved +0.44% to $96.06k and trading volume moved +33.42% to $41.22b.

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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