The rollout of TRUMP on ChangeNOW was announced in a post on social media X, allowing users to swap and purchase the token with fiat. 

Hold onto your toupees! @GetTrumpMemes is here, and it’s YUGE!

Born in the wild world of memecoins, @realDonaldTrump’s $TRUMP is all about bold statements and bigger-than-life moves.

Ready to make crypto great again? Get $TRUMP NOW!
https://t.co/9MReQgMSV5 pic.twitter.com/v9ioSgah5x

— ChangeNOW (@ChangeNOW_io) January 18, 2025

The platform offers over 1,200 cryptocurrencies and 500,000 exchange pairs. Fiat purchases are supported in more than 60 currencies, with payment options like Visa and MasterCard, and swaps are completed in five minutes on average. Some of the ChangeNOW exchange pairs for TRUMP available include TRUMP/USDT, TRUMP/USDC, and beyond. 

The token’s significant rise has shifted attention away from other meme coins like DOGE, which has dropped by 8%, and SHIB and PEPE, which have fallen by 6% and 5%, respectively, since TRUMP’s launch. As a result, trading pairs such as DOGE/TRUMP and PEPE/TRUMP are, among others, now actively traded, reflecting growing interest in TRUMP amidst a shifting market dynamic.

TRUMP by Numbers 

In under a day since its launch, TRUMP, the token from President Donald Trump, surged to $33, up from an initial price of $0.18, after Trump encouraged followers to claim their tokens before the 48-hour window expired.

It’s currently trading at $29,2, still reflecting a 320% increase, following a massive surge that allowed early buyers to make substantial gains. The token has also climbed the ranks, now sitting at 29th place on CoinMarketCap.

TRUMP’s market cap is nearing $6 billion, with daily trading volume approaching $11 billion. It has a total supply of 999,99 million tokens, with 200 million currently in circulation.

Trump’s Ongoing Crypto Support

The Trump family has been vocal about their support for crypto. In December, Eric Trump said at a Bitcoin conference that his father would make the U.S. the global leader in crypto, adding that his administration would avoid overregulating the industry.

This stance was reinforced when Donald Trump introduced his $TRUMP meme coin, declaring, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” 

The launch further built on Trump’s pro-crypto stance, with many supporters viewing the TRUMP token as a natural extension of his ongoing interest in digital assets, potentially signaling continued support for cryptocurrency upon his return to office.

• There have been more than 100 bullish posts about the token selections made by the AIXBT account.
• Over a brief period of time, a trader who followed its advice realized average returns of 24.18%.
• The two most popular stories with the best price performances over the last few days are AI and DeFAI.

A trader put AIXBT’s ability to find emerging tokens in the meme area to the test. During early-stage rallies, the majority of the transactions resulted in short-term profits.

The development of AIXBT by Virtuals Protocol’s data hub for crypto analysis is now underway. The AI personality is continuously suggesting tickers in the interim. Both news on more established initiatives and new tickers are posted by the AI agent.

Interestingly, although the AI agent has served as the foundation for the trading test, it is unable to accept accountability for its information or trading recommendations.

One trader made the decision to use AIXBT as a source for copy-trading, which is a popular practice used by memecoin traders who want to mimic the approach of high-performing investors. The trader made the decision to invest a small amount in each of the new tickers AIXBT listed.

The trader allocated $100 to each AIXBT recommendation, purchasing any that were even marginally positive. Following the first purchase, orders were placed at 12, 24, and 36 hours to divest the token using a dollar-cost averaging technique.

Every week, AIXBT promotes more than 100 tokens

AIXBT’s AI personality is very active, sharing token recommendations or insights every hour. On certain tokens, the trader found 117 posts that may be taken action on. The choices represented but a small fraction of the tens of thousands of primarily Solana-based tokens launched each week. 

The choices made by AIXBT also provided information about the most active stories. During the short-term test period, the trader made 54% more money with AI coins and AI agent tokens, 49% with meme tokens, and 21.5% with DeFi selections. Some of the outliers saw profits of 143% to 209% from specific token selections. But before some of the tokens reported their largest gains, the experiment came to an end.

ANON, ALPHA, and GRIFT are examples of older social media narratives that reported larger benefits over a little longer period of time. Because those tokens usually return for a fresh rollover of funds, AIXBT chose them.

Even though the trading experiment took place during a week that was generally gloomy, AIXBT’s picks still beat the market. The most profound personal loss for one of the tokens capped at just 37.5%, a relatively minor drawdown for memecoins. 

The total returns from 117 tokens returned an average of 24.18% on the whole portfolio. The returns are lower compared to more strategic whales, but overall, it was enough to retain the portfolio’s value. 

AIXBT continues to trade near peak

AIXBT itself turned into one of the hottest AI agent tokens. The asset gained to levels above $0.90 after days of waiting for a breakout. AIXBT rallied after a series of whale buying and has not yet seen a drawdown despite some profit-taking. 

The token’s rally and the constant posting and information also boosted engagement for AIXBT on X (formerly Twitter). 

The rising popularity of the project comes before the data terminal is launched, which will begin onboarding users to a closed version in the upcoming weeks.

Following weeks of searching for short-term winners, focus is now being placed on AI coins and agents that are developing platforms and offering long-term benefits.

The AI coin and agent story continues to be the most popular, with the new DeFAI category coming in second. Both in terms of price performance and social media mindshare, the narrative leads. As creators and liquidity move to agent tokens, the industry is still seeing a rollover from meme tokens. Agents competed similarly to memes due of the readily available means for token generation.

DeFAI’s rise stems from the expectation that AI agents will be able to evaluate the market more quickly than human traders. In order to explain its success following the recent Binance listing, AIXBT capitalizes on this niche.

AIXBT is the primary asset of DeFAI tokens. The entire industry recovered during the last week, hitting a $3.26 billion valuation. The market capitalization of AI agent tokens also increased, approaching all-time highs at $16.4 billion. In addition to the content-based AI agent, platforms and utility goods have seen a movement in liquidity among the top coins.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan

• In January, Polymarket’s trading volume falls to a mere $515 million.
• The platform experienced its peak activity in November, driven by wagers on the US presidential election.
• Polymarket has been blocked by the Singaporean government.

Despite having a huge following in 2024, the American prediction site Polymarket has noticed a decline in activity just a few weeks into 2025. Usually, the prediction platform asks users to wager cryptocurrency on “yes” or “no” responses to a given topic.

The site had a sharp increase in wagers on the outcome of the election just prior to the November 5 election, indicating that the election outcomes were a significantly more interesting subject for the cryptocurrency community than the subjects it is now covering.

In January, Polymarket’s trading volume drops by $2 billion compared to November

In October and November, the trade volume on the prediction platform Polymarket was $2.3 billion and $2.6 billion, respectively, according to Dune Analytics.

The increase in wagers on the outcome of the US election scheduled for November 5th is the reason for the spike in trade volume. The fact that November 2024 trading volume was about 37,700% higher than November 2023’s $6.8 million volume suggests that election outcomes were significant to cryptocurrency investors.

The market has found it difficult to sustain the same level of activity in 2025, even after a spike in November. In the first few weeks of 2025, trading volume has decreased from $1.9 billion in December to just $515 million.

Moreover, open interest on Polymarket slumped by 77% between November 6 and January 13.

Predictions regarding whether Donald Trump would try to buy Greenland, whether New York City would abandon its contentious congestion pricing program by summer, and how frequently Elon Musk will post on X this week were among the most trending markets as of January 14.

Market competition, user complaints, and regulations continue to be problems for Polymarket.

Despite the fact that Polymarket’s trading volume increased in November, its widespread appeal did draw regulatory attention. Shayne Coplan, the CEO of Polymarket, was searched by the US Federal Bureau of Investigation in November to see whether the market was still abiding by the 2022 prohibition on US markets.

In addition, Singapore joined Taiwan and France in limiting access to the prediction site in January.

Some of the platform’s users have even voiced concerns over some of the market’s bets, particularly those centered around LA wildfires. Some have claimed the platform was trying to profit from a national disaster, inviting criticism from concerned crypto investors.

Not to mention, the platform still has to fight off top competitor Kalshi after the firm won the court’s favor in September, allowing American users to bet on its platform.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

• Between January 13 and 20, more than $2.927 billion worth of tokens will be unlocked, with ONDO at the top.
• Stablecoins, layer-1s, and gaming are all impacted by these token unlocking initiatives, which include major projects like Solana, Arbitrum, and Worldcoin.
• Due to limited market liquidity, smaller unlocks like Kryptonite and ALI may experience more price fluctuations.

Between January 13 and 20, the cryptocurrency market is expected to see a significant number of token unlocks, with releases totaling more than $2.927 billion planned across several projects.

ONDO is in the lead for cliff unlocks, with 1.94 billion tokens valued at $2.269 billion, or 134.21% of its total supply, according to Tokenomist data. The magnitude of these unlocks may have an effect on the corresponding cryptocurrencies, especially in projects centered around infrastructure and Real World Assets (RWA). Projects from a variety of industries, such as gaming protocols, Layer-1 blockchains, and RWA platforms, are getting ready for these supply shifts.

Large cliff unlocks are led by ONDO.
With 1.94 billion tokens valued at $2.269 billion set to be unlocked, ONDO is the most anticipated release. This is the biggest release in terms of value and supply impact, accounting for 134.21% of the current supply. With 4.33 million tokens worth $85.60 million, Connext (CONX) comes next, increasing its circulating supply by 376.30%.

The mid-range unlocks have a multitude of effects in many sectors:

• Arbitrum (ARB): $67.97 million (2.20% of supply) in 92.65 million tokens.
• UXLINK (UXLINK): 15.63% of supply, or 26.56 million tokens, valued at $31.61 million.
• Strike (STRK): $27 million (2.65% of supply) in 64 million tokens.
• SEI Network (SEI): 1.32% of supply, or 55.56 million tokens, valued at $20.91 million.
• 232,350 tokens valued at $19.65 million (4.79% of supply) make up the QAI Protocol (QAI).

Completing the cliff unlocks are ApeCoin (APE) with 15.60 million tokens ($16.74 million, 2.16% of supply), APEX releasing 10 million tokens ($14.90 million, 20.11% of supply), and Prime (PRIME) with 750,000 tokens ($10.01 million, 1.42% of supply). The last two on the list are Cloud (CLOUD), unlocking 48.92 million tokens ($7.49 million, 27.18% of supply), and Pixel (PIXEL) with 54.38 million tokens ($7.42 million, 7.05% of supply).

Linear unlocks are led by Worldcoin and Solana.
Solana (SOL) and Worldcoin (WLD) are the two most valuable tokens according to the linear unlock schedule; SOL released 465,770 tokens valued at $86.54 million. But this only amounts to 0.10% of the total supply in circulation. With 37.23 million tokens worth $77.43 million, Worldcoin comes in second, increasing its supply by 4.19%. The token distribution for the primary Layer-1 and social verification protocols remains consistent with these planned releases.

Avalanche (AVAX) schedules 700,000 tokens for $24.99 million, affecting 0.17% of supply, while TIA Protocol (TIA) prepares to release 6.99 million tokens worth $34.52 million, affecting 1.44% of supply. Sui Network (SUI) intends to unlock 4.13 million tokens worth $19.34 million (0.14% of the total supply), while TAO Protocol (TAO) continues with 50,400 tokens worth $21.97 million (0.62% of the supply).

The remaining linear unlocks include Polkadot (DOT) with 2.81 million tokens ($18.26 million, 0.18% of supply), NEAR Protocol (NEAR) releasing 2.97 million tokens ($14.47 million, 0.25% of supply), and Filecoin (FIL) with 2.24 million tokens ($11.33 million, 0.36% of supply).

The rest of the unlocks include Jito (JTO) releasing 4.20 million tokens ($10.72 million, 1.49% of supply), Ethereum Name Service (ENS) releasing 309,190 tokens ($9.64 million, 0.93% of supply), and MOCA with 41.65 million tokens ($9.02 million, 2.56% of supply).

Gaming tokens and less common token unlocks

During this time, there will be significant unlocks for a number of lesser market capitalization projects. With a current price of $0.00802, Games for a Living (GFAL) is getting ready to release 121.32 million tokens, or $973,013, which accounts for 1.21% of all locked tokens. The project’s 42.23% unlock progress indicates that its gaming-focused tokens are distributed steadily.

Blast Royale (NOOB), which has 26.75 million tokens valued at $225,846 planned for distribution, is subject to a more significant supply shift in comparison to its size. This unlock can affect NOOB’s $1.07 million market capitalization, which is 5.22% of the whole locked supply. With 42.1 million tokens scheduled for release, Kryptonite (SEILOR) is also getting close to unlocking and has made 65.52% progress toward its overall distribution timeline.

Future unlocks are also anticipated in the artificial intelligence space; Artificial Liquid Intelligence (ALI) is getting ready to release 133.31 million tokens. ALI still has a market capitalization of $86.16 million and has 83.50% unlock progress, despite a recent price drop of 8.51%.

Voxies (VOXEL), which combines blockchain technology with gaming, has 74.22% of its distribution timetable completed and aims to unlock 3.85 million tokens. Despite being minor in value, these smaller unlocks terms compared to major protocols, often bring higher volatility to their respective tokens due to lower market liquidity and trading volumes.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

• With a 7.9% decline in the last day, the Ethereum Foundation sold $12.96M worth of ETH this year. Sales of ETH typically occur before market declines.
• As Ethereum funding rates fall to 0.052%, open interest drops by 5.51%, and US spot ETFs record $86.79M in withdrawals, bearish signals get more pronounced.
• With bearish setups suggesting a potential price decline approaching a support zone close to $3,061, analysts anticipate that ETH may begin a correction phase.

The Ethereum Foundation sold 100 ETH on Wednesday, according to Lookonchain. With 4,566 ETH sold so far, the sales followed a trend that has been noted since January 2, 2024.

The Ethereum Foundation has a history of selling ETH close to market peaks, which frequently precede market declines, per earlier Lookonchain research. The market tracker pointed out that the price of ETH has decreased by roughly 17% after the Ethereum Foundation sold 100 ETH in December of last year.

According to reports, the foundation has sold over $12 million worth of Ethereum in 32 trades over the last 12 months, with 15 of those deals taking place around market peaks.

The sale of the Ethereum Foundation depresses the market

In just ten minutes following the announcement of the Ethereum Foundation’s sell-offs, ETH lost 0.6% of its value. According to Coingecko data, the second-largest cryptocurrency by market capitalization has dropped 7.9% in the past day, and it is currently selling at $3,346 per coin.

Yumi Sumiko, a medium contributor, maintains that the foundation is selling Ethereum in order to pay for ongoing research and development within the Ethereum ecosystem as well as to manage its operating costs.

As a non-profit, Sumiko stated that it conducts these transactions to guarantee the financial viability of its programs rather than for commercial gain.

“The foundation does more than simply sit back and watch its money grow. Rather, it makes the deliberate decision to put money into Ethereum’s ecosystem, placing a wager that this blockchain will endure for a very long time. Sumiko repeated.

Ethereum (ETH) is presently developing a bearish setup, according to TradingView’s analysis. The price may move toward a support zone around $3,061 when it breaks down from a rising trendline close to a resistance zone. The fundamentals show that there is growing selling pressure, which supports this pessimistic outlook.

According to a new WaveTraders study, Ether is expected to have a large decline. ETH is presently in a negative corrective phase within a broader corrective pattern, according to their analysts.

This implies that Ethereum may be about to enter a phase when a more significant decrease is expected following a period of upward growth.

The market mood for Ethereum remains pessimistic.
Ethereum has remained consistently above the $3,000 mark over the last few months. However, investors who expected a spike towards new all-time highs have become somewhat pessimistic due to its stagnant movement.

Telling trends can be seen in a review of ETH financing rates, a crucial measure of how aggressively people purchase or sell in the futures market. Funding rates skyrocketed as ETH approached the $4,000 threshold, indicating intense buying pressure. 

It’s interesting to note that a string of protracted liquidations followed this peak, correcting the price and starting a consolidation phase. In the past day, funding rates have decreased from 0.093% to 0.052%, with $140 million in liquidations. At $118 million, bullish holdings took the brunt of the losses.

Widespread cryptocurrency market liquidations have caused a major setback for Ethereum derivatives, with open interest dropping by 5.51% to $30.42 billion. The long-to-short ratio has changed to a bearish 0.8968, indicating that traders are becoming more pessimistic.

US ETH spot ETFs showed a daily net outflow of $86.79 million, which added to the bearish momentum. Bears caused Fidelity to see $67 million in liquidations and the Grayscale Ethereum Trust to drop $11.19 million.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

• The court granted permission for the US Department of Justice to sell 69,370 Bitcoin that were taken from Silk Road.
• Battle Born Investments requested under a FOIA that the DOJ identify “Individual X.”
• Battle Born continues to assert that the DOJ employed “procedural trickery.”

The U.S. Department of Justice (DOJ) was given permission by a federal judge to sell $6.5 billion worth of Bitcoin that it had purchased from the Silk Road marketplace. According to a court document, Chief U.S. District Judge Richard Seeborg denied a motion to stop the forfeiture of 69,370 Bitcoin, enabling the Department of Justice to sell the assets.

The new administrator, who promised not to sell the confiscated Bitcoin, will begin office in less than two weeks after the approval. The DOJ had stated that it needed to sell the assets quickly due to the volatility of the Bitcoin market.

The judge denies Battle Born’s bid to reveal “Individual X,” but permits the selling of Bitcoin.
The DOJ’s motion to liquidate 69,370 Bitcoin that were confiscated from Silk Road was granted by a federal judge on December 30. However, Battle Born Investments’ attempt to delay the transaction was unsuccessful as a result of this permission.

It’s unknown why the document surfaced this week, and the DOJ hasn’t yet released an official statement.

Prior to bringing a complaint in court, Battle Born had previously filed a FOIA request to the DOJ to identify “Individual X,” who had consented to the forfeiture of Bitcoin that had been seized from Silk Road.

Nonetheless, the court determined that DOJ had complied with the proper protocols in using FOIA Exemption 7(c) to hide the identify of Individual X. The court highlighted that the holder had compelling reasons to maintain anonymity, especially since the seized assets were tied to criminal activity.

Battle Born Investments even argued that revealing the identity was necessary to uphold accountability and openness regarding government acts and in the public interest; but, the court determined that Individual X’s right to privacy outweighed that.

The court further maintained that Battle Born had not presented sufficient proof of any wrongdoing by the government in concealing the name of “Individual X.”

Battle Born thinks the DOJ concealed the facts of the case through procedural deception.
The Battle Born legal team is still unhappy with how the case turned out. The lawyer for Battle Born even referred to the case as “another egregious example of the DOJ’s abuse of the Civil Asset Forfeiture Process,” alleging that the agency had concealed the truth through “procedural trickery.”

Nonetheless, the US Marshals Service is anticipated to oversee the liquidation, which will mark one of the largest sales of confiscated cryptocurrency to date. However, the court’s approval to sell the seized Bitcoin briefly impacted the market, causing Bitcoin to dip from about $95,000 to $93,800. It has since recovered slightly to $94,454.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan

• Microsoft intends to spend $3 billion expanding its AI and cloud Azure services in India.
• Microsoft plans to use AI to train 10 million more people nationwide.
• Additionally, Microsoft and SaaSBoomi have signed an AI memorandum of understanding.

Additionally, Microsoft said that it has signed an AI memorandum of understanding with SaaSBoomi, an Indian network for business-to-business entrepreneurs. In addition to raising an additional $1.5 billion in venture capital funding for Indian AI and SaaS businesses, the two will work together to promote entrepreneurship in smaller Indian villages and towns.

In India, Microsoft is already doing well. Notably, the company has over 20 years of experience operating in India. Infosys, Air India, Meesho, Tech Mahindra, Federal Bank, Apollo, MakeMyTrip, HCL Tech, Manipal, Icertis, and InMobi are a few of its customers in India.

Nadella claims that Microsoft 365 Copilot’s “Contract Assist” is being used by IT company Persistent to cut down on the length of discussions by 70%.

India as a market for AI

India is a crucial overseas market for American IT titans. Several of them have invested tens of billions of dollars in developing and scaling their operations in the South Asian market over the last two decades. This is to court enterprises serving hundreds of millions of consumers.

In fact, as Microsoft rapidly develops its products with new AI capabilities, competition among hyperscalers has intensified in recent quarters. In 2023, for example, Amazon declared that it would invest $12.7 billion in its operations in India by 2030.

Furthermore, as one of the biggest and fastest-growing developer marketplaces in the world, India has cemented its presence on the international scene. Microsoft’s GitHub is used by more than 17 million people in India. In recent months, a number of business leaders have traveled to India, including Lisa Su, the CEO of AMD, and Jensen Huang, the CEO of Nvidia. The main purpose of their travels has been to draw in developers.

One of the top cloud and artificial intelligence companies in India, Microsoft, already has three data center facilities there. The company says it plans to introduce a fourth next year. The $3 billion investment would go toward creating a scalable AI computer environment to support India’s AI businesses and research community. The move is expected to increase the firm’s popularity in the region.

In 2025, Microsoft projects spending $80 billion on data centers with AI capabilities.

Microsoft plans to invest $80 billion in building data centers that can handle workloads related to artificial intelligence in fiscal 2025.

Additionally, more than half of the projected investments in AI infrastructure will come from the United States, according to Brad Smith, president and vice chair of Microsoft. Interestingly, Microsoft’s fiscal year for 2025 will end in June.

This choice is affected by the Trump-led administration that will take office in the near future. According to Brad Smith, “private capital investments and innovations by American companies of all sizes, from dynamic start-ups to well-established enterprises, have allowed the US to lead the global AI race today.”

Smith also tasked the administration of the incoming president with upholding the nation’s leadership in AI through international promotion of US AI technologies and education. “China is promising to build local AI data centers and is beginning to offer developing countries subsidized access to scarce chips,” he said. The Chinese are astute enough to understand that a nation is likely to remain dependent on China’s AI platform in the future if it standardizes on it.

“The best course of action for the United States is to make sure we win the race ahead, not to whine about the competition,” he continued. We must act swiftly and efficiently to position American AI as a better option in order to achieve this.

In the meanwhile, Microsoft announced $20 billion in capital expenditures and assets purchased under finance leases globally in the first quarter of fiscal 2025. Equipment and property accounted for $14.9 billion. AI services contributed 12 percentage points to Microsoft’s 33% gain in revenue from Azure and other cloud services in the first quarter of the fiscal year.

Nevertheless, economists polled by Visible Alpha predicted that property and equipment purchases will rise by $63.2 billion in fiscal 2025. This would be a 42% rise from the previous year.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan

• The US presidential election of 2024 was significantly influenced by the cryptocurrency sector.
• Like in the US, Canada’s cryptocurrency business aspires to garner enough attention to have political sway.
• Many cryptocurrency exchanges continue to view the nation’s regulatory standards as stringent.

During the most recent election, which saw Donald Trump win, cryptocurrency’s significance in American politics increased dramatically.

As its own cryptocurrency business aims for more recognition, Canada seems to be paying attention.

With the federal election coming up in a few months, the Canadian crypto sector hopes that politicians will stop ignoring conversations about cryptocurrencies.

The cryptocurrency business in Canada aims to imitate that of the US

Donald Trump positioned himself as the “crypto candidate” during the campaign, promising that his government would enact pro-industry laws.

To win over cryptocurrency enthusiasts and investors, he even made hints about the potential creation of a national Bitcoin reserve.

Trump attempted to appoint proponents of digital assets to his cabinet after winning the election, and even more so, the price of bitcoin has increased by more than 40%, crossing the $100,000 mark for the first time.

In addition to Trump’s active role in boosting crypto’s influence, political contributions from key industry figures further amplified the movement. The crypto sector contributed about $135 million to support candidates, with Crypto’s Fairshake PAC and affiliated super-PACs receiving funding from giants like Coinbase, Ripple Labs, and Andreessen Horowitz.

In Canada, however, crypto has yet to stir much controversy in the political arena, especially given the many restrictions on candidate donations.

Nonetheless, Dean Skurka, CEO of WonderFi Technologies Inc., believes it is much easier to have crypto discussions now than a month ago. He expects the current momentum to continue even if crypto players can’t make that many donations to political groups or candidates.

He added:

We’re hopeful, but it hasn’t quite played out that way in Canada historically, and obviously in the US, this is the first time that it’s really become an election issue. Hopefully, the positive response that it has seen will be a signal to Canadian politicians to take it seriously.~ Dean Skurka

In addition, Canada’s cryptocurrency business believes that, like the US, it will have a greater influence and wave during its elections.

Certain cryptocurrency laws in Canada have deterred cryptocurrency exchanges from doing business there.

Canada is eager to implement laws that effectively control and oversee the cryptocurrency sector.

Some cryptocurrency companies, however, avoided the Canadian market because they believed they couldn’t comply with the regulations.

Among the companies that ceased business in the nation in 2023 were Binance, Bybit, dYdX, Paxos, and OKX.

The Canadian government continues to impose laws on the cryptocurrency sector, but it remains to be seen if these policies will benefit the sector. First, the Crypto Asset Framework will take effect in 2026. The framework obligates all digital asset brokers, exchanges, and ATM operators to reveal their full transaction data annually. It also requires service providers to disclose client-specific information, such as names, residential addresses, and taxpayer identification numbers.

Moreover, according to Sophia Cote, head of public policy at Montreal-based crypto trading platform Shakepay Inc., the Canadian government is still looking for ways to regulate stablecoins.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

In the first half of 2024, BTCC proudly turned 13 as Bitcoin celebrated its 15th anniversary, solidifying its position as one of the longest-serving crypto exchanges with 0 security breaches since inception. BTCC’s growth mirrors Bitcoin’s success, as its global community expands and activity on the platform reaches record highs.

Throughout 2024, BTCC introduced new features to cater to its growing user base, including listing over 300 futures and 100 spot pairs, providing up to 500x leverage on select coins, and supporting over 200 cryptocurrencies for deposits and withdrawals. BTCC’s copy trading feature continued to gain momentum, boasting 15,000 all-time lead traders, 600,000 copy traders, and an impressive 177.59 million successful trades recorded since launch.

To celebrate Bitcoin’s historic $100K milestone, BTCC launched BTCC OG Week, a never-seen-before campaign that engaged its 400,000-strong global community with rewards and an opportunity to rediscover the OGs of crypto like BTC, DOGE, and FLOKI. 

“What a year it’s been for both Bitcoin and BTCC,” said Aaryn Ling, Head of Branding at BTCC. “As Bitcoin achieved unprecedented highs, BTCC grew alongside it, welcoming millions of new users, introducing user-centric features, and solidifying our commitment to providing a secure and reliable platform for the crypto community worldwide.”

Looking ahead to 2025, BTCC is focused on engaging its community by listing more coins, rolling out new user-focused campaigns, and participating in major global crypto events.

With over 13 years of secure operations and zero security incidents, BTCC remains the ultimate OG in crypto exchanges, growing stronger alongside Bitcoin and the ever-evolving crypto industry.

About BTCC

Founded in 2011, BTCC is one of the world’s longest-running cryptocurrency exchanges, known for its secure, innovative, and user-friendly trading environment.

Official website: https://www.btcc.com/en-US  

Contact: [email protected]  

• The Internal Revenue Service (IRS) has been sued by the Blockchain Association for new rules that target the decentralized finance (DeFi) industry.
• The IRS’s “stifling” requirements were attacked by the legal counsel for the Blockchain Association.
• As trust in the pro-crypto Trump administration continues, the crypto community rallied in denouncing the new IRS regulations.

The Internal Revenue Service (IRS) has been sued by the Blockchain Association for new rules pertaining to the decentralized finance (DeFi) industry. The organization is opposing new IRS regulations that would designate certain DeFi industry protocols as brokers. The protocols will be required by the new regulation to disclose customer transaction details via Know Your Customer (KYC) data.

About 875 DeFi protocols may be impacted by the new rule, according to the IRS, a move that has angered the whole cryptocurrency industry. Any platform that allows traders to purchase and sell assets in the DeFi sector will be regarded as a broker under the new regulation.

The decision is strongly opposed by legal experts who point to multiple infringement of constitutional rights. Additionally, investors are cautious due to the security concerns that the proposed KYC details may present.

A lawsuit is filed by the Blockchain Association to challenge the IRS.
When the IRS first issued its mandate, traders objected to the rules, causing market-wide discontent. The IRS responded to their displeasure by promising to make sure the correct individuals are making timely tax payments.

The Blockchain Association declared that it has filed a lawsuit against the new regulation while the dispute was still raging.

The Blockchain Association announced in a post on X (previously Twitter) that it filed the case alongside the Texas Blockchain Council and the DeFi Education Fund. According to the body, the rule may jeopardize the United States’ thriving digital asset market. Additionally, it stated that the IRS had received many comment letters conveying the same cautions.

Marisa Coppel, the association’s legal chief, claims that the IRS violated people’s rights by classifying the processes as brokers, going beyond its legislative jurisdiction.

Although they do not execute trades, the IRS and Treasury have exceeded their statutory authority by extending the definition of “broker” to encompass providers of DeFi trading front-ends. Not only is this an infringement on the privacy rights of individuals using decentralized technology, it would push this entire, burgeoning technology offshore.”

She noted that the Blockchain Association will continue to stand with users and fight against any form of misguided regulations.

“Blockchain Association continues to stand with innovators and users of DeFi and will continue to fight this misguided rule-making to ensure the United States remains a home for decentralized finance technology and developers alike,” she added.

The IRS Blockchain Association CEO, Kristin Smith, has come under fire from the crypto community. While some prominent figures in the field have expressed their disapproval of the action, others have offered their support.

Smith has strongly opposed some portions of the rules and encouraged the IRS to rescind them. Additionally, she has faith that the next Trump administration would recognize the catastrophic consequences that such a decision may have for the nation’s creativity.

Variant Chief Legal Officer Jake Chervinsky, speaking on behalf of the legal community, expressed his disapproval of the laws, calling them a last-ditch effort by the anti-crypto army. Additionally, he asked the court to reverse the restrictions, stating that the future administration would take action if the court did not.

Some users on X have also called it an intentional move by the Biden administration to sabotage the incoming pro-crypto Trump administration. The crypto community has always come together to criticize regulations that may hinder the growth of the crypto industry. With the incoming pro-crypto Trump administration, there is confidence that laws like these will be rejected outrightly.

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