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Quick Take Despite the volatility, we can’t help but stay bullish on crypto’s future. This column is adapted from The Scoop newsletter.
Quick Take A16z-backed Story Protocol, a Layer 1 network built for IP management, has unveiled details of the tokenomics for its native token ahead of a mainnet launch. Of an initial supply of 1 billion IP tokens, 58.4% will be “allocated to the community across initial incentives, ecosystem, and foundation, ensuring broad participation and decentralized ownership.”
Quick Take The cryptocurrency sector mirrors wider market caution, with sentiment remaining fragile ahead of the U.S. jobs report, QCP Capital analysts said. The analysts point to bearish bitcoin options activity as investors weigh economic uncertainty.
Quick Take Investment manager VanEck predicted the price of Solana could reach $520 by the end of 2025. The firm said Solana’s smart contract platform market share may expand from 15% to 22% this year.
Share link:In this post: Burwick Law and Wolf Popper issued a cease and desist letter to Pump.fun, demanding the removal of over 200 meme coins allegedly infringing on their intellectual property. The firms claim that Pump.fun allowed the creation of meme tokens spoofing their brands as retaliation for a class-action lawsuit filed against the platform on Jan. 30. Despite mounting legal challenges, Pump.fun continues to see record-breaking trade volumes largely driven by Trump-related meme coins.
Share link:In this post: US Bank reported $24 million holdings in Bitcoin ETFs in its latest SEC filing, an increase of $10 million since its last filing. Goldman Sachs announced it held Bitcoin ETFs of over $400 million across different funds last year. US-listed spot Ethereum ETFs recorded increased inflows amid the overall market dip.
- 04:03After DeepSeek Clarified It Has Not Issued Virtual Currencies, Prices of Some Counterfeit Tokens Quickly "Hit Zero"On the same day that DeepSeek officially clarified that it "has never issued any virtual currency," the prices of several counterfeit DeepSeek tokens quickly plummeted to zero. Multiple virtual currencies named “DeepSeek,” “DeepSeekAI,” “DeepSeekR1,” and others have now seen trading cease. Among the many fake DeepSeek tokens, one counterfeit token named “Seek” was launched on January 28. Before the crash, its market capitalization had reached $48 million. Security firm BlockAid reported that 75 fake DeepSeek tokens have been created on the Ethereum and Solana networks, with a total scam amount of 420 million RMB. Lawyers warn that issuers of such virtual currencies may have malicious motives, such as misleading investors, making quick profits, and evading regulations. Additionally, these virtual coin projects often have small market sizes, making them easy to manipulate, and their value can rapidly decline or crash. Once investors are "scammed," it is difficult to trace the responsible individuals or entities behind the project.
- 04:02Over 700 Tokens Sent to Trump's Wallet After Launch of Meme CoinOn February 9, FT reported that within three weeks of Trump launching his meme coin, over 700 altcoins and junk coins have been sent to Trump’s digital wallet. The official Trump wallet now contains 736 different memecoins. Among them, nearly 200 memecoins, including "OFFICIAL TRUMP" and "OFFICIAL MELANIA," are named after Trump or his family, but have no actual connection to the former president.
- 04:01Cathie Wood: Sovereign Wealth Funds Begin Allocating Bitcoin, Institutional Share of Bitcoin Futures Open Interest Has Increased to Around 63%Cathie Wood, Founder, CEO, and Chief Investment Officer of Ark Invest, stated in an interview with Bloomberg that the model of DeepSeek could attract more companies to join the open-source AI movement, potentially disrupting the existing market structure and creating a new competitive landscape. Cryptocurrency is the next internet revolution, currently witnessing a triple paradigm shift: First, the institutional share of open contracts in Bitcoin futures has increased from 17% in 2020 to 63%. Second, sovereign wealth funds are beginning to allocate, with the Norwegian Oil Fund revealing last month that it holds 42,000 BTC. Most importantly, Bitcoin is becoming a balance sheet tool for tech companies—MicroStrategy holds 214,000 BTC, and Tesla also has strategic reserves.