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The U.S. States' Bitcoin Reserve Race Heats Up
The Deputy Minority Leader in the Illinois House of Representatives, John Cabello, has introduced a bill to establish a Strategic Bitcoin Reserve (SBR). This initiative, along with several similar proposals, has caught the attention of Dennis Porter, CEO of the Satoshi Action Fund. His organization advocates for the first cryptocurrency within political and business circles across the country. In December 2024, Porter outlined a mechanism through which President Donald Trump could finance the creation of a federal SBR before Congress enacts any legislative changes. He noted that if federal authorities do not expedite the establishment of the fund, they would initiate a ”wave of SBRs” at the state level. In January, as part of fulfilling campaign promises, Trump announced the formation of a task force on digital assets led by special advisor on AI and cryptocurrencies David Sachs. One of the group's objectives is to assess the feasibility of implementing an SBR. In a recent interview, the official confirmed that they are ”studying” the issue. The largest publicly traded miner by market capitalization, MARA Holdings, has joined efforts to lobby for the creation of Bitcoin reserves at both federal and all 50 state levels. Illinois John Cabello's proposal calls for creating a fund managed by the state treasurer. Deposits in digital gold will be held for no less than five years, during which any Bitcoins in the reserves cannot be transferred, sold, or converted into other assets. The structure will be able to accept voluntary donations in the first cryptocurrency. Cabello proposed regular audits every two years. As a security measure, he deems it necessary to utilize cold storage for the coins. Ohio House Majority Leader Steve Demetriou has introduced a new bill to create an SBR, co-authored by six other state congressmen. A similar initiative was first proposed in December by Republican Derek Merrin. Key features of Demetriou's proposal include: The state may allocate up to 10% of its stabilization fund for Bitcoin investments. The structure employs reliable custodial solutions with self-custody. Only assets with a market capitalization of at least $750 million can be included in the reserve. The bill uses the neutral term ”digital asset” to reduce political friction. ”We fully support and endorse this act and will work closely with its authors and supporters to make it a reality,” stated Porter. Arizona, Utah, Texas, and Others In Arizona, the bill to establish an SBR was the first among states to pass through a relevant committee. The document will soon be put to a Senate vote. Republicans Wendy Rogers and Jeff Weninger are co-sponsors of this proposal. The Utah Senate was second in this regard — its SBR document has also exited committee. In South Dakota, a bill regarding a Bitcoin fund has just begun its journey in Congress—registered by Representative Logan Manhart. In Texas, the lieutenant governor declared the creation of an SBR as a ”priority,” noted Porter. The corresponding act was submitted to the House of Representatives back in December. ”We are moving very quickly,” summarized Porter regarding recent developments on this topic. At the end of January, Arizona's Congress introduced a bill allowing local government and pension funds to invest in Bitcoin. A similar initiative was proposed in Indiana. The organization The Bitcoin Conference reported that there are currently 10 states where legislative acts concerning the first cryptocurrency have already been introduced. Analysts from Fidelity Digital Assets believe that national adoption of Bitcoin in 2025 will serve as a powerful driver for this digital asset.

Coinpaper 2025-01-30 18:41
WEEX Completes First-Ever Burn $120 Million Worth of WXT, Reducing Supply by 40%
SINGAPORE, Jan. 30, 2025 /PRNewswire/ — Platform tokens like BNB and BGB have demonstrated their ability to create immense value through well-planned tokenomics strategies. Following these examples, WEEX is set to execute a significant milestone: the planned destruction of 40% of WXT’s total supply, valued at $120 million, signals a strategic step towards increasing scarcity and enhancing the token’s utility within the WEEX ecosystem. WXT $120 Million Burn vs. BNB and BGB As outlined in the burn process, WEEX ensures complete transparency by recording every token burn event on-chain. Such openness reinforces investor confidence and showcases the platform’s dedication to responsible token management. Key Post-Burn Metrics Token Name: WEEX Token (WXT) Blockchain: Ethereum (ERC-20) Total Supply After Burn: 6,000,000,000 Burned Token Value: $120 million For comparison, Binance’s 30th quarterly burn eliminated 1.63 million BNB, valued at $1.16 billion, while Bitget unveiled a plan to burn over $5 billion worth of BGB tokens, WEEX’s upcoming burn stands out as a bold move to immediately reduce WXT’s supply by 40%. With plans for regular quarterly burns in the future, this initial large-scale reduction signals WEEX’s commitment to aligning with proven strategies in the industry while tailoring its approach to meet the platform’s growth and community needs. Expanding Utility Across the WEEX Ecosystem A Growing Ecosystem Backed by Numbers Since its launch in August 2023, WXT has seen a cumulative price increase of 384%, reflecting its growing utility and market confidence. Over the past year, WEEX has solidified its presence in the global cryptocurrency market: Daily Trading Volume: Exceeding $20 billion, consistently ranking among the top 10 derivatives exchanges. Active User Base: Over 5 million users, supported by partnerships with 10000 star traders and 2000 global influencers. Security and Transparency: Backed by a 1000 BTC investor protection fund and on-chain verification of all token burns. These figures underscore the platform’s robust foundation and the critical role WXT plays in its ecosystem. A Systematic Burn Schedule for Sustainable Growth The whitepaper also highlights WEEX’s ongoing commitment to reducing WXT’s circulating supply through quarterly burns. This process involves allocating 20% of the exchange’s quarterly revenue—including spot and futures transaction fees and listing fees—for token repurchases and subsequent destruction. Such a systematic approach ensures WXT remains deflationary, sustaining its scarcity while reinforcing its value proposition within the ecosystem. Benefits for WXT Holders The whitepaper emphasizes WXT’s integration into the WEEX platform’s comprehensive offerings,too. WXT holders enjoy numerous benefits: 1）Fee Discounts: Up to 70% off futures trading fees, making trading more cost-efficient. 2）Profit Opportunities: Enhanced profit-sharing through copy trading and VIP upgrades. 3）Exclusive Airdrops: Access to high-value token airdrops via the WE-Launch program, with annualized returns potentially exceeding 140%. 4）Governance Rights: WXT holders can participate in platform decision-making, including proposals for new listings and feature updates. Future plans include integrating WXT into decentralized finance (DeFi) applications and extending its utility to cross-chain platforms and decentralized exchanges (DEXs), further broadening its use cases. Will WXT Be the Next 100x Gem? The upcoming $120 million WXT burn is poised to make an impact in the competitive landscape of platform tokens. By reducing its supply significantly, WEEX creates a foundation for WXT’s scarcity-driven value potential, positioning it alongside successful examples like BNB and BGB. As WEEX continues to innovate and expand globally, WXT’s future will be shaped by its ability to adapt to market demands and deliver value to its holders. Whether WXT achieves “100x gem” status will depend on the platform’s sustained efforts to refine its tokenomics and expand its applications. For those seeking a platform token with robust fundamentals and growth potential, WXT presents a compelling opportunity as it navigates the next stage of its evolution. About WEEX Founded in 2018, WEEX has quickly emerged as a global leader in cryptocurrency trading. With an extensive selection of trading pairs, cutting-edge features like WE-Launch, and partnerships with global icons like Michael Owen, WEEX continues to redefine the trading experience for millions worldwide. For more information: Website : WEEX Exchange

Bitcoin World 2025-01-30 18:41
Mercari Launches New Marketplace Mercari NFT
TOKYO, Jan. 28, 2025 /PRNewswire/ – Mercari , Inc. (“Mercari”) has announced the launch of Mercari NFT , a new online marketplace enabling users to buy and sell NFTs directly through the Mercari platform. Starting January 28, 2025, Mercari users can now access popular NFTs listed on OpenSea , a major NFT marketplace, seamlessly integrating digital assets into Mercari’s ecosystem. This launch marks a significant milestone as Mercari expands from a physical goods marketplace into the world of digital assets. Expanding Mercari’s Mission to “Circulate All Forms of Value” Mercari has grown into Japan’s leading marketplace app with over 23 million monthly active users and more than 4 billion cumulative listings as of September 2024. In line with its mission to “circulate all forms of value to unleash the potential in all people,” the company has expanded into digital payments (Merpay) and cryptoassets (Mercoin). With Mercari NFT , the company extends its ecosystem to include NFTs, allowing users to purchase digital assets using their Mercari sales balance. By eliminating the need for a separate crypto wallet or account, Mercari NFT simplifies access to digital assets and makes listing purchased NFTs just as easy as selling physical items. Key Features of Mercari NFT Seamless NFT Purchases : Users can buy NFTs using familiar payment methods, including Merpay balance, Mercari points, and Mercard, offering a hassle-free experience. Easy NFT Management : Purchased NFTs are displayed in the “My items & listings” section, making it easy for users to view and manage their digital assets. Simplified NFT Listing : Users can easily list NFTs they’ve purchased on Mercari NFT, with profits credited to their sales balance upon a successful transaction. No Buyer Fees : Buyers are not charged transaction fees when purchasing NFTs, with prices displayed transparently, including gas fees, consumption tax, and selling fees. Plans for Growth From the first day of its launch, Mercari NFT offers access to NFTs from popular projects listed on OpenSea. Looking ahead, Mercari plans to collaborate with businesses and IP holders in Japan and abroad to issue and sell NFTs in various categories, such as art, trading cards, and entertainment. This expansion aims to establish Mercari NFT as a leading digital marketplace for NFTs. How to Access Mercari NFT Open the Mercari app or a web browser and navigate to the Mercari NFT section through My Page or visit Mercari NFT (Japanese only). Use Mercari’s payment methods to purchase NFTs or list your digital assets for sale. For more detailed information, visit Mercari’s help guide: Purchasing NFTs Listing NFTs About Mercari Founded in 2013, Mercari , Inc. is one of Japan’s leading technology companies, operating a marketplace platform with over 23 million monthly active users and more than 4 billion cumulative listings as of September 2024. Guided by its mission to “circulate all forms of value to unleash the potential in all people,” Mercari has expanded beyond physical goods into digital payments (Merpay) and cryptoassets (Mercoin). With the launch of Mercari NFT, the company integrates NFTs into its ecosystem, allowing users to seamlessly buy, sell, and manage digital assets directly on the platform. For more information, visit www.mercari.com .

Bitcoin World 2025-01-30 18:39
Crypto Exchange Kraken Launches New Staking Business for Ethereum, Solana
The SEC fined Kraken $30 million back in 2023 and forced it to shut down a similar staking product for U.S. customers.

Decrypt 2025-01-30 18:39
Telecom’s Future Lies in Decentralized Networks
The telecommunications industry stands at a critical juncture. As global data consumption skyrockets, traditional telecom operators face a perfect storm of challenges: stagnant subscriber growth, costly infrastructure maintenance and an insatiable demand for bandwidth. This capacity crunch is not just a problem for carriers; it's a looming crisis for consumers who increasingly rely on seamless connectivity in their daily lives. The telecom squeeze In 2024, AT&T projected $4.7 billion in site lease costs. Add in Verizon and T-Mobile, and the annual cost of leases for wireless coverage in the US approaches a staggering $15 billion. As infrastructure costs rise, margins on internet access are projected to rise more slowly for telecom companies. Meanwhile, demand continues to explode, with global data consumption over telecom networks projected to grow by almost 2x by 2027. The industry's attempts to find new revenue streams, such as through fixed wireless access , which is used to connect home internet users via cellular connections, will exacerbate the problem by placing additional strain on cellular capacity. As a result, consumers face the prospect of degraded service and rising costs. Enter the decentralized physical infrastructure network (DePIN) — a solution that promises to address the capacity dilemma head-on. In a decentralized model, infrastructure is owned, deployed and maintained by multiple parties rather than by a central authority like a big telco operator. In return for sharing in the cost and work of deploying new network capacity, infrastructure owners are rewarded with blockchain incentives. By leveraging distributed resources and blockchain technology, carriers can see: Rapid coverage creation: DePIN networks can create coverage/capacity where it's needed most, and deploy that coverage faster than with the traditional model. CAPEX-free scalability: Expansion is no longer limited by capital-intensive infrastructure projects. Reduced OPEX costs: By distributing deployment and maintenance work, operators reduce operational expenses and consumers benefit from the savings. Improved performance: Decentralized networks can give operators the ability to choose which radios serve which users for specific geographies and times of the day. Increased trust: By providing an immutable and transparent ledger, blockchain ensures visibility of the quality of experience metrics in a distributed system. Overcoming resistance to change For many telecom executives, embracing decentralization represents a significant cultural shift. But they’d be wise to consider history as they look to the future of their industry. For example, when the initial switch from analog to digital networks began in the 1990s, consumers and industry executives were hesitant to upgrade their systems. But once implemented, 2G cellular technology improved capacity and efficiency, and also enhanced voice quality, SMS messaging and data services that would lay the foundation for subsequent generations of mobile services. Concerns about quality of service, control and security no longer need to deter a transition to a decentralized network. Each of these issues can be satisfactorily addressed through standards-based implementations and robust governance models to achieve the long-term benefits of adopting decentralized models, as well as set the stage for future innovation and improvements. By collaborating with DePINs, telecoms can position themselves at the forefront of a new era in connectivity. Decentralizing traditional carriers: coverage creation and data offload One of the most promising entry points for DePIN is via coverage creation and carrier offload. Decentralized telecom networks can create coverage where it didn’t exist before. Currently, carriers identify regions where connectivity is needed, and business development teams engage with local real estate owners to lease and develop sites for expanded coverage. It’s a time- and resource-intensive process with considerable costs attached. DePINs, however, can deliver a new "point-and-shoot" model where carriers indicate directly to the decentralized builder community where coverage is needed. Carriers can use tools such as the Helium Planner to mobilize communities to create coverage where they know it will be used, benefitting both the builders and the mobile customers, and instantly enhancing the operator’s network. Helium stands as a prime example of a decentralized telecom network that is successfully being used by traditional carriers. The network already collaborates with several telcos, both in the US and Mexico, the latter via its partnership with Telefónica — a testament to the growing acceptance of decentralized solutions by major industry players. By incentivizing individuals and businesses to operate Hotspots, over 400,000 subscribers of U.S. telco carriers connect to the Helium Network daily to access the internet through Hotspots. With over 500 terabytes of data transfers into Helium, the Network has proven that traditional telcos can embrace the capacity, security and effectiveness of decentralized networks. Embracing a decentralized future Decentralized network expansion will become even more critical as 6G rolls out nationwide in the coming years. As stated in the recently released 6G Vision Statement from the Wireless Broadband Alliance (WBA), we will need more robust and intentional collaboration across the industry to “achieve ubiquitous connectivity” to overcome costly cellular infrastructure upgrades. The industry needs cost-effective offloading solutions to roll out this next generation of wireless technology efficiently. As the telecom industry grapples with unprecedented challenges, decentralized networks offer a path forward. By leveraging blockchain technology, embracing innovative partnerships and reimagining the very nature of connectivity, telecom leaders will be able to thrive in the coming decades.

CoinDesk 2025-01-30 18:38
Italy and Ireland ban DeepSeek on Apple and Google devices
DeepSeek, the controversial Chinese AI chatbot, is no longer available for download in Italy and Ireland. Both countries pulled the app from Apple and Google stores on Jan. 29, accusing the company of dodging questions about its handling of personal data and causing fears of Chinese government access to user information. Regulators are pressing the company for answers—and they’re not being polite about it. Users in Italy trying to download the chatbot were greeted with messages like, “currently not available in the country or area you are in” on Apple devices. Google users also received a blunt “download not supported” notice. A Reuters investigation confirmed DeepSeek had disappeared from Google’s store. However, at least one Apple user still had access, according to a Jan. 29 report by The Guardian. DeepSeek’s disappearance comes on the heels of its explosive rise as the most downloaded free app on Apple’s store in the US and UK. Released just last week, it offered AI performance comparable to ChatGPT, but at a fraction of the cost. Its rapid growth triggered panic, wiping over $1 trillion off the US stock market in just a day. Regulators demand answers about data storage and access Italy’s privacy watchdog, Garante, has given DeepSeek 20 days to explain what personal data it collects, where it’s stored, and whether any of it lands on Chinese soil. “Our office will launch an in-depth investigation to see if GDPR rules are being followed,” said Pasquale Stanzione, head of the agency, through the Italian news outlet ANSA on Jan. 29. Garante wants specifics—what data is collected, what legal basis allows it, and what’s being done to protect users. If the company doesn’t cooperate, Italy could hit it with harsh penalties under Europe’s General Data Protection Regulation (GDPR). Ireland’s Data Protection Commission also fired off its own inquiry. The Guardian’s report claims they’ve requested a detailed breakdown of how DeepSeek processes data tied to Irish citizens. The investigation reportedly focuses on whether user information is being mishandled or shipped off to China without proper safeguards. Privacy concerns have been brewing since it became known that DeepSeek’s privacy policy openly states user data is held on “secure servers located in the People’s Republic of China.” The UK government, meanwhile, has taken a more hands-off approach. British officials said it’s up to citizens to decide whether to use the app. But they promised to act quickly if any serious security risks arise. China’s national intelligence law doesn’t help ease fears. Under the law, all Chinese companies, organizations, and citizens must assist government intelligence efforts. Critics think this could force DeepSeek to hand over sensitive user data without warning. Wiz Research finds DeepSeek’s database fully exposed While regulators focus on privacy violations, security researchers have uncovered another nightmare for DeepSeek—an exposed database that leaves user data wide open to anyone on the internet. Wiz Research investigated DeepSeek’s digital infrastructure and claims to have found a publicly accessible ClickHouse database. The database had no password, no authentication system, and no protections. “Within minutes, we had full access to sensitive information,” said the Wiz team. The database was hosted at oauth2callback.deepseek.com:9000 and dev.deepseek.com:9000, both linked directly to DeepSeek’s core systems. ClickHouse is designed for high-speed data processing, commonly used for storing logs, chat histories, and backend operational details. But leaving it unprotected created a major security threat, according to the Wiz report. What kind of data did Wiz find? Tons. The database contained chat histories, API secrets, backend operations data, and sensitive log streams. Running a simple SHOW TABLES; command through the web interface revealed everything. Even worse, the exposed database wasn’t limited to standard web browsing. Wiz researchers discovered the vulnerability by scanning non-standard HTTP ports—8123 and 9000—which DeepSeek left open. This mistake allowed the team to access the database through the browser without breaking a sweat. As if DeepSeek didn’t have enough on its plate, OpenAI has accused it of theft. The American AI giant says there is evidence that DeepSeek may have stolen its technology through a method called distillation. Distillation involves taking a large, complex AI model and shrinking it down into a smaller, more efficient version. “We know groups in China are working to replicate our models using distillation,” said OpenAI. “We’re taking aggressive countermeasures and working closely with the US government to protect our technology.” Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

Cryptopolitan 2025-01-30 18:36
ECB president ‘confident’ Bitcoin will not enter central bank reserves
Christine Lagarde seemed to dismiss concerns that Czechia’s central bank would adopt Bitcoin as a reserve asset.

CoinTelegraph 2025-01-30 18:36
Bitcoin’s Stagnation Sparks Hopes for Altcoin Recovery
Bitcoin remains stagnant, influencing altcoin recovery prospects. AVAX and ADA demonstrate resilience, showing potential for upward movements. Continue Reading: Bitcoin’s Stagnation Sparks Hopes for Altcoin Recovery The post Bitcoin’s Stagnation Sparks Hopes for Altcoin Recovery appeared first on COINTURK NEWS .

CoinTurk News 2025-01-30 18:35
Alleged Censorship As Bitcoin Accounts Taken Down On Social Media
For Bitcoin accounts and those with dissident views, the takedown of accounts remind many that giant tech companies control much of what happens on the Internet.

Forbes Digital Assets 2025-01-30 18:33
Cryptocurrency staking returns to Kraken for U.S. clients
More on Crypto Cryptocurrencies: Bitcoin Down 5% This Week Bitcoin And 'Strategic Reserve' Progress VanEck Mid-January Bitcoin ChainCheck CME Group to launch options on bitcoin Friday futures DeepSeek's rise triggers 'overdone' selloff in bitcoin mining stocks, analyst says

Seeking Alpha 2025-01-30 18:31
Major XRP Ledger Amendment To Go Live Today: Details
XRP Ledger will welcome AMMClawback in hours

U.Today 2025-01-30 18:31
Grayscale Launches Bitcoin Miners ETF as Mining Industry Poised for Massive Growth
Grayscale Investments has launched the Grayscale Bitcoin Miners ETF, offering investors exposure to bitcoin mining firms, as the industry continues to expand. Grayscale Launches Bitcoin Miners ETF for Crypto-Focused Investors Crypto asset management firm Grayscale Investments announced on Thursday that it has introduced the Grayscale Bitcoin Miners ETF (Ticker: MNRS), a new exchange-traded fund designed

Bitcoin.com 2025-01-30 18:30

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