Analysts dispute claims of a daily Jane Street Bitcoin dump as spot Bitcoin ETFs post three days of inflows and DeFi debates shift to real revenue. This week, rumors of a “10 a.m. Bitcoin dump” blamed on quantitative trading company Jane Street gained traction online after it was sued by Terraform Labs’ court-appointed administrator, but market watchers said the data does not support a consistent, company-driven selloff. The accusations mounted a day after Jane Street was sued by Terraform Labs’ administrator amid allegations of insider trading that worsened the collapse of Terra’s algorithmic stablecoin ecosystem in May 2022. Elsewhere in the market, demand for spot Bitcoin exchange-traded funds returned after five consecutive weeks of net negative outflows. US-listed spot Bitcoin ETFs took in over $1 billion in three consecutive days this week, with $254 million in cumulative inflows on Thursday, according to Farside Investors data. Read more
Bitcoin’s attempt to top $70,000 stalled throughout the week, but analysts believe that the short-term downside will be limited. Will altcoins hold on to their weekly gains? Key points: Bitcoin continues to face selling on minor rallies, indicating a negative sentiment. Several altcoins have turned down from the overhead resistance levels, indicating the bears are active at higher levels. Read more
Japan’s regulators and conglomerates are working to bring one of the world’s key funding currencies into DeFi, but retail activity remains muted. Japan is preparing its financial system for a world of stablecoins and tokenized assets, with banks, regulators and financial conglomerates working to bring the yen economy onchain. The country is the world’s fourth-largest economy, and its yen is one of the most important currencies in global finance. According to the International Monetary Fund, the yen accounted for 5.82% of global foreign exchange reserves, ranking third worldwide. A major reason for the yen’s systemic importance is the carry trade. Due to low interest rates, investors borrow cheap yen, convert it into other currencies and invest in higher-yield assets, making the yen one of the most trusted funding currencies for global markets. Read more
The blockchain-based lending platform beat revenue estimates but fell short on earnings, even as annual profit reached $134 million. Shares of Figure Technology Solutions, a blockchain-based consumer lending marketplace, plunged on Friday after the company reported mixed fourth-quarter results the prior day, signaling a more difficult operating environment even as revenue continued to climb. For the quarter ended Dec. 31, the company posted revenue of $159.9 million, up from $83.9 million a year earlier, and net income of $15.1 million, compared with $5.9 million in the same period of 2024. Earnings were $0.06 per diluted share, compared to zero a year earlier. Analysts polled by Yahoo Finance expected earnings of $0.18 per share on revenue of $157.7 million. Read more
Representative Erin Koegel proposed a total ban on crypto ATMs in Minnesota, building on a 2024 state law that imposed restrictions on kiosk operators. A Minnesota lawmaker has introduced a bill that could ban virtual currency kiosks across the state after reports of incidents involving crypto-related scams. In a Thursday session of the Minnesota House of Representatives Commerce Finance and Policy Committee, Representative Erin Koegel said the bill, House File 3642, would address the “novel” and “minimally regulated” technology of crypto kiosks. Koegel said she had heard from state law enforcement agencies that many scammers used the kiosks to trick residents into sending crypto, while legitimate traders tended to use centralized exchanges. Read more