CryptoCryptocurrency

Binance announced on Jan. 29 that it will convert its $1 billion Secure Asset Fund for Users from stablecoins into bitcoin (CRYPTO:BTC) within 30 days as part of a long-term risk management strategy.

World Liberty Financial’s dollar-backed stablecoin USD1 has surpassed a $5 billion market capitalisation in under a year, while the TRUMP meme coin has slumped more than 93% from its peak.

Kazakhstan’s central bank plans to bolster a new national crypto reserve using bitcoin seized from criminals alongside gold and foreign currency assets.

Ethereum co-founder Vitalik Buterin said he has withdrawn 16,384 ETH, worth about $43 million, to fund development efforts as the Ethereum Foundation enters a period of tighter spending.

SWIFT has unveiled a new global retail payments scheme aimed at making cross-border transfers for consumers and small businesses as fast and predictable as domestic payments.

Binance said it will convert the stablecoin holdings in its $1 billion Secure Asset Fund for Users into bitcoin over the next 30 days amid volatile market conditions.

XRP fell about 7% to near $1.75 as a bitcoin-led selloff triggered heavy long liquidations, wiping out more than $70 million in bullish futures positions.

Global markets are showing signs of reflation, a shift back toward rising inflation pressures that analysts say has historically been supportive for asset prices, including bitcoin.

El Salvador’s central bank has added $50 million worth of gold to its reserves, even as the government continued its daily bitcoin purchases under President Nayib Bukele.

Robinhood chief executive Vlad Tenev said the 2021 GameStop trading halt was a wake-up call that exposed flaws in US market infrastructure and strengthened his belief that tokenisation could prevent similar disruptions.

Bitcoin slid to a two-month low near $81,900 on Jan. 30, triggering one of the largest deleveraging events of the year as geopolitical tensions and macro uncertainty rattled crypto markets.

The United States Department of Justice has finalised the forfeiture of more than $400 million in cryptocurrency and other assets linked to Helix, an early bitcoin mixing service tied to darknet markets.