Bitcoin Dips as Trump's Starts Trade War
Whats up Crypto Gurus
The community is still young, active and alive, so is Trump's first days in office. But guess who’s feeling the pressure of Trump's latest tariff war? It had to be our favorite coin 🤦
Remember when we used to dream about these "dips"? Metaphorically, but you never thought Bitcoin would take that seriously.
And guess who's shooting his shot at a presidential pardon? SBF's parents can’t stand the sight of their son in jail, quite understandably, but we might be seeing executives from Binance join SBF in prison soon…. If he doesn’t get that pardon.
Here are the Highlights:
- French Authorities Launch Money Laundering Investigation Into Binance
- Bitcoin Sinks to $100K as Trump Imposes Tariffs on Canada, Mexico, China
- Sam Bankman-Fried’s parents reportedly eye Trump pardon for jailed son
- Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks
French Authorities Launch Money Laundering Investigation Into Binance
French authorities launch an investigation into Binance France over money laundering, tax fraud, and drug trafficking charges. Binance faces global scrutiny, with lawsuits in the US, UK, and accusations of market manipulation tied to Wintermute. Regulators worldwide are cracking down on centralized exchanges for breaches of money laundering and licensing laws. Binance secured regulatory approval in France in May 2022, becoming a registered Digital Asset Service Provider (DASP) under the oversight of the Autorité des Marchés Financiers (AMF). Despite its registration, regulators now accuse the exchange of breaching its obligations as a DASP.
Bitcoin Sinks to $100K as Trump Imposes Tariffs on Canada, Mexico, China
Following through on threats made throughout his campaign and repeated in the opening days of his presidency, Donald Trump has imposed 25% tariffs on nearly all imports from Mexico and Canada and a 10% tariff on goods from China. "The sustained influx of illicit opioids and other drugs has profound consequences on our Nation, endangering lives and putting a severe strain on our healthcare system, public services, and communities," said the president in his Executive Order authorizing the levies. With traditional markets closed for the weekend, crypto is bearing the brunt of the risk-off reaction to the tariffs. Bitcoin (BTC) is lower by 2% and just hanging on above $100,000 after rising as high as $106,000 only a bit more than 24 hours ago.
Sam Bankman-Fried’s parents reportedly eye Trump pardon for jailed son
The parents of Sam Bankman-Fried (SBF) are exploring potential avenues to secure a presidential pardon from President Donald Trump, Bloomberg News reported on Jan. 30, citing a person familiar with the matter. Stanford Law School professors Joseph Bankman and Barbara Fried have reportedly engaged in discussions with lawyers and individuals within Trump’s orbit in recent weeks. While it remains unclear whether they have made direct outreach to the White House, their efforts signal an attempt to seek clemency for their 32-year-old son, who was sentenced to 25 years in prison for fraud.
Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks
Tether is launching its $140 billion USDT stablecoin on the Bitcoin and Lightning Networks, aiming to expand its role in the Bitcoin-based financial ecosystem. The integration, enabled by Lightning Labs' Taproot Assets protocol, allows USDT issuance on Bitcoin’s base layer and transactions on Lightning Network, offering faster and cheaper payments. Tether's move marks a shift for stablecoins, which have primarily thrived on smart contract platforms like Ethereum, Tron, and Solana. San Salvador — Tether, the crypto company behind the largest stablecoin, is introducing its $140 billion USDT token to Bitcoin — the blockchain that underpins the largest and oldest cryptocurrency — and Bitcoin-based scaling service Lightning Network, the company said on Thursday.
Other Highlights Worth Mentioning
Tether Announces a Record $13 Billion Profit in 2024 - BeInCrypto
Indian crypto holders face 70% tax penalty on undisclosed gains - Cointelegraph
Coinbase Secures Regulatory Approval To Expand Services In Argentina - Bitcoins
Binance claims ‘no special relationship’ with Hamas, argues to dismiss lawsuit - Binance