Author: Deep Tide TechFlow
YesterdayMarket Dynamics
The number of initial jobless claims in the U.S. for the week ending January 10 was 198,000, below the expected 215,000.
According to Jin Ten Data, the number of initial jobless claims in the U.S. for the week ended January 10 was 198,000, below the expected 215,000. The previous figure was revised down from 208,000 to 207,000.
Senate Banking Committee Cancels Market Structure Hearing Amid Coinbase Controversy
According to EleanorTerrett, the Senate Banking Committee announced the cancellation of a previously scheduled market structure hearing set for tomorrow, due to the controversy with Coinbase today. A new date for the hearing has yet to be determined.
CME Group to Launch Cardano, Chainlink, and Stellar Futures
CME Group announced that it will launch Cardano (ADA), Chainlink (LINK), and Stellar (XLM) futures on February 9 to expand its cryptocurrency derivatives product portfolio.
Fogo Announces Open Airdrop Claims
According to an official announcement, the SVM Layer1 blockchain project Fogo has announced the opening of an airdrop claim.
X has revoked the API access permissions for the "Reward Posting Application."
According to Nikita Bier, X's product lead and a Solana ecosystem advisor, X is revising its developer API policies and will no longer allow applications that reward users for posting on the platform. Bier stated that such applications have led to a surge in low-quality AI-generated content and spam replies on the platform. X has already revoked API access for these applications, and user experience is expected to improve soon. For developer accounts that had their API access terminated, X has stated it will assist in transitioning their businesses to the Threads and Bluesky platforms.
Interactive Brokers Launches 24/7 Account Funding with USDC and Plans to Expand to More Stablecoins
According to The Block, traditional brokerage firm Interactive Brokers has announced that it will allow traders to fund their accounts with Circle's USDC for 24/7 trading operations.
The company's CEO, Milan Galik, stated that stablecoins offer a faster, lower-cost, and globally accessible funding option compared to traditional wire transfers. This integration is supported by crypto infrastructure provider Zerohash, allowing users to send USDC via the Ethereum, Solana, or Base networks, which will automatically be converted to USD and deposited into their brokerage accounts. Interactive Brokers plans to expand support for additional stablecoins, such as Ripple's RLUSD and PayPal's PYUSD, as early as next week.
State Street Launches Digital Asset Platform to Expand Cryptocurrency Business
According to Bloomberg, global custodian bank State Street Corporation has announced the launch of a digital assets platform, aiming to expand its business in this rapidly growing asset class. According to a statement released by the Boston-based company, the new platform will develop and support money market funds, exchange-traded funds (ETFs), and cash products including tokenized deposits and stablecoins.
MilkyWay Protocol Announces Imminent Permanent Shutdown
According to an official announcement by MilkyWay Protocol, the protocol is about to permanently shut down and initiate the liquidation process.
The announcement stated that the decision to shut down was due to the unmet growth in demand for decentralized finance, a temporary market for restaking, the disruption of plans for tokenizing physical assets, and insufficient funding, among other reasons.
MilkyWay completed its snapshot on January 14 and will automatically distribute protocol fees in the form of USDC to MILK token holders on a proportional basis. All liquidity staking features are now disabled, and existing positions will be automatically unstaked. Initially, MilkyWay served as the first liquidity staking token (LST) provider for Celestia, later expanding to the Initia and Babylon ecosystems, and attempted to launch services such as restaking, physical asset tokenization, and payment cards.
Polygon lays off nearly 30% of its workforce, shifting focus to a payments strategy
According to BeInCrypto, Polygon has laid off approximately 30% of its staff, a move that is part of its integration efforts following the acquisitions of Coinme and Sequence. The company is shifting its focus from traditional scaling and DeFi narratives toward an "open money stack" strategy centered around stablecoin payments. Polygon's CEO confirmed the decision to downsize but noted that the overall employee count is expected to remain stable as new teams from the acquisitions are integrated.
Coingecko Co-Founder Responds to Sale Rumors: Strategic Opportunities Are Regularly Evaluated, Platform Operations Are Normal
In response to recent reports that the cryptocurrency data platform CoinGecko was considering selling at a valuation of around $500 million, the company's co-founder and CEO, Bobby Ong, posted on X to address the issue. He said that he had received many inquiries about the potential sale of the platform. He noted that CoinGecko has been in operation for 12 years, and like any growing and profitable company, it regularly evaluates strategic opportunities to strengthen its business and accelerate its mission. Ong declined to comment on specific acquisition discussions but expressed excitement about possibilities that could help better serve users and support the adoption of cryptocurrency institutions. He emphasized that CoinGecko will continue to operate as usual, with no changes to its working methods or the way it provides reliable data.
Bitmine Announces $200 Million Investment in Beast Industries, MrBeast's Company
According to a PR Newswire report, Bitmine announced a $200 million investment in Beast Industries, owned by MrBeast. The transaction is expected to be completed around January 19th.
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