TRUMP memecoin riches have spurred billions of dollars for the newly sworn-in U.S. President Donald Trump, an amount he termed as “peanuts” compared to corporate bigwigs in his first address of the token since launch.

“I don’t know much about it other than when I launched it. I heard it was successful,” Trump said in a press conference on Tuesday when asked by a reporter. “Where is it today? Several billion?

“That’s peanuts for these guys,” he added, referring to the networth of other businessmen in the room that included SoftBank’s Masayoshi Son, OpenAI’s Sam Altman and Oracle’s Larry Ellison.

Token prices zoomed 25% in the past 24 hours, beating gains in bitcoin (BTC) and other majors, to reverse losses from earlier in the week. It sits at an $8 billion market capitalization as of Wednesday morning, up nearly 900% since going live.

Trump also unveiled a $500 billion joint venture termed Stargate at the event, which aims to build data centers in Texas and would invest in AI infrastructure.

Meanwhile, some see TRUMP as a bet on the Republican’s popularity and policies in his term, with ripple effects on how it may shape up Web3 and memecoin markets.

“Longer term, TRUMP coin could act as a barometer for public sentiment towards Trump’s presidency,” Yat Siu, co-founder and executive chairman of Animoca Brands told CoinDesk in a message. “Culture memes and tokens are essentially a highly variable public polymarket of culture and zeitgeist, and we’ve seen this play out accordingly.”

“(However) If the initiative is perceived as a cash grab without further engagement, we may well see a crypto chill for meme tokens, potentially draining attention and liquidity out of the meme space. How the TRUMP token is handled is likely to have a ripple effect on trust and reputation for the entire crypto and Web3 industry,” Siu added.

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

The UK government borrowed more than expected in December, underlining the challenge facing chancellor Rachel Reeves as she tries to restore confidence in her fiscal plans and kick-start growth.

Borrowing — the difference between public sector spending and income — was £17.8bn last month, £10.1bn more than in December 2023, and the third highest in any December on record, data from the Office for National Statistics showed on Wednesday. 

It was above the £14.1bn expected by economists polled by Reuters, and the £14.6bn forecast by the Office for Budget Responsibility, the UK fiscal watchdog, in its most recent set of projections made in October.

In the first nine months of the fiscal year, borrowing was £129.9bn, which was £8.9bn more than in the same period in the previous fiscal year. It was also the second-highest borrowing in the April to December period since monthly records began in January 1993.

Jessica Barnaby, deputy director for public sector finances at the ONS, said that “spending on public services, benefits, debt interest and capital transfers were all up, while an increase in tax receipts was partially offset by a reduction in National Insurance contributions, following the rate cuts earlier in 2024”.

Reeves has sought to reassure investors after the UK’s borrowing costs this month climbed to the highest level since the global financial crisis, threatening her ability to meet a self-imposed fiscal rule in which day-to-day spending is covered by tax receipts.

Following the release of December’s borrowing figures, Darren Jones, chief secretary to the treasury, said: “Economic stability is vital for our number one mission of delivering growth, that’s why our fiscal rules are non-negotiable and why we will have an iron grip on the public finances.”

The OBR, which has to produce two forecasts every financial year, will provide an update on March 26 on whether Reeves is still on track to meet her own borrowing rules.

UK borrowing costs have eased since figures last week showed inflation unexpectedly slowed in December, and a global bond sell-off abated.

But the government remains under pressure to turn around the economy, which grew just 0.1 per cent in November after mild contractions in September and October.

“While the bond market has calmed in the last week and fears of an emergency mini-Budget have subsided, the chancellor will be very aware of the dissipation of government finances as we head towards the OBR’s economic and fiscal forecast scheduled for 26 March,” said Joe Nellis, economic adviser at MHA, the accountancy and advisory firm.

Sterling remained 0.2 per cent lower at $1.23 following the release of the figures.

Meta is luring TikTok creators over to its platforms with the promise of cash bonuses, content deals, and support to grow their communities. The company announced on Tuesday that eligible TikTok creators will be able to earn “up to” $5,000 in bonuses over three months for posting Reels on Facebook and Instagram.

These creators will also get access to the Facebook Content Monetization program, which allows creators to earn money for their videos, photos, and text posts on Facebook. Additionally, Meta will offer some TikTok creators content deals to help grow their audiences on Instagram and Facebook.

Some TikTok creators will also get a one-year trial of Meta Verified, which includes a verified badge, account support, and impersonation protection. (The company did not share the criteria for whose will receive access).

While TikTok is back online in the U.S. after going dark for 12 hours over the weekend, the ByteDance-owned social network is still missing from app stores. Although President Donald Trump signed an executive order on Monday to delay the TikTok ban deadline by 75 days and told the Department of Justice not to enforce the ban’s penalties, it’s unknown when (or if) the app will return to Apple and Google’s app stores.

Meta is clearly taking advantage of TikTok’s current troubles by poaching and attracting some of the service’s creators.

The company also said it’s rolling out changes to Reels to make the short-form video format more appealing to TikTok creators. For instance, U.S.-based Instagram creators can now publish Reels up to three minutes long, a notable increase from the previous 90-second limit. On TikTok, however, creators can record videos up to 10 minutes long, and in some cases, upload content up to an hour in length.

In addition, Meta is going to make Reels more prominent, as the company plans to recommend Reels in more places across Instagram in Facebook. For instance, people may start to see recommended Reels higher up in their home feed. Plus, they may see more reels in their search results.

To further court TikTok creators, Meta notes that it has optimized its ranking systems to allow newer creators to break through to new audiences.

Meta will also allow creators to show their Instagram, TikTok, or YouTube handles and follower counts in their Facebook profiles to boost their credibility on its platform.

Meta already made other changes to take advantage of TikTok’s current uncertainty in the U.S.

On Sunday, Meta revealed that it’s going to launch a CapCut-like app called Edits next month. On Friday, it introduced updates to make it easier for Instagram users to find Reels that their friends and followers are liking on the platform. The app will also encourage users to start conversations about Reels through a new “reply bar.”

• A new rumor suggests the RTX 5090 will use 600W of power
• Comments in a Chinese forum point toward the new GPU being much louder
• PSU requirements are 1000W according to Corsair

Nvidia‘s RTX 5090 promises to provide a step up from the previous generation’s RTX 4090, but that could come at a significant cost according to new rumors – and you might want to invest in a beefy power supply.

As reported by Tomasz Gawronski on X, discussions within Chiphell (a Chinese forum page about the latest PC hardware) suggest that Nvidia’s RTX 5090 Founders Edition GPU will use 600W of power while being much louder compared to the 4090. This is based on what appears to be an upcoming review with the embargo set for January 24, with a post translated from Chinese that says “The editor cursed while testing… After all, the power consumption increased, the current increased, and the screaming also increased~”.

Shares of Canadian crypto provider Neptune surged 40% after it secured a $20 million credit facility from Sygnum Bank to buy Bitcoin.

Neptune Digital Assets Corp., a public Canadian infrastructure provider, saw its shares climb 40% on over-the-counter markets after locking in a $20 million credit line from Sygnum Bank, the Swiss digital asset-focused lender.

The loan, backed by Neptune’s Bitcoin (BTC) holdings, will help it expand its Bitcoin stash as well as buy other crypto-related assets, and fund strategic investments, the firm said in a Jan. 21 press release.

“The loan is structured to give us ample flexibility while maintaining Swiss banking protections over the Bitcoin collateral. At this pivotal stage in our development, the US$20 million positions us to expand our digital asset portfolio, pursue strategic investments, and strengthen our balance sheet — without diluting shareholders through equity issuance.”

Cale Moodie, Neptune’s CEO

Sygnum Bank also pears confident in Neptune’s plans, with head of credit Benedikt Koedel sharing his excitement to support the firm “as they expand their digital asset portfolio.” The market responded fast, with Neptune’s shares surging over 40% on OTCMarkets to a record high of $1.15. The firm also trades on the TSX Venture Exchange under the ticker NDA.

The move followed a wave of activity from other public companies rushing to buy Bitcoin under the first pro-crypto administration in the White House. For example, Oxbridge Re Holdings Limited, a publicly listed reinsurance and tokenized asset firm, announced on Jan. 21 that it added Bitcoin and Ethereum (ETH) to its treasury reserves as a store of value.

[PRESS RELEASE – Hanoi, Vietnam, January 22nd, 2025]

The mini-app will add new utility for User-Owned NFL Rivals Player Digital Assets on the Mythos Chain , proving the interoperability between two different player experiences across two different platforms

Football Rivals will Onboard Millions of Users to Mythos via Koni Stack’s Telegram Mini App-as-a-Service

Koni Stack, the platform that accelerates next-generation Web3 decentralized applications (dApps), today announced the launch of Football Rivals, a new toss-up mini-app. The Telegram app, built using Koni Stack’s mini app SDK, launched today on Telegram.

As a player experience built to be interoperable with and provide added utility for user-owned NFL Rivals player digital assets, which are also used in connection with the hugely popular game from Mythical Games’ title with over six million active players, the Football Rivals mini-app will enable users to utilize such player assets to combine engaging stats-based gameplay with the power of Web3. Players will use digital assets to compete in weekly challenges, with top performers earning MYTH rewards on the Mythos Chain. The app, launched today, is available worldwide to millions of users, making it one of the most accessible and user-friendly blockchain gaming experiences to date!

By tapping into the global Telegram user base, Football Rivals is poised to introduce millions of new players to the Mythos and Polkadot ecosystems. This collaboration between Koni Stack, Mythos, and Polkadot creates an entirely new use case for the blockchain ecosystem, offering a seamless experience for players to now use their owned digital assets across a new experience and platform, proving the interoperability of digital assets and collectibles.

Koni Stack, developed by the team behind SubWallet – the leading wallet in the Polkadot ecosystem – is designed to simplify the onboarding process for users into Web3 via a developer-friendly SDK. With a focus on user-friendly interfaces, SubWallet first revolutionized access to Polkadot with its easy-to-use wallet. Now, through its Telegram mini app-as-a-service, Koni Stack is helping developers create seamless mini apps with low code thus enabling Telegram’s billions of users to seamlessly interact with dApps and blockchain-based experiences.

“We’re thrilled to enable millions of players to utilize their digital assets and collectibles to bring a new experience, Football Rivals, to millions of users on Telegram, leveraging Koni Stack’s mini app SDK,” said Hieu Dao, CEO of SubWallet and Koni Stack, “This effort not only demonstrates the scalability of Mythos and Polkadot but also opens up a new avenue for further application of blockchain technology, creating more fun, accessible ways for players to engage with Polkadot.”

“We’re excited to see Koni Stack release Football Rivals on Telegram,” said John Linden, CEO of Mythical Games. “By using the Mythos Chain’s robust ecosystem and Koni Stack’s mini-app SDK, this mini-app shows the power of web3 and the ability for one group to build extended value for players through interoperability. The fact that Koni was able to build a new player experience*,* enabling interoperability and allowing players to use the NFL Rivals digital assets they earned and purchased in connection with another application, is what web3 is all about, and Football Rivals makes this a reality!”

As Football Rivals takes off, it is expected to drive significant on-chain activity on the Mythos chain, onboarding millions of users to decentralized platforms. The apps integration with Telegram, combined with Polkadot’s scalability and interoperability, will be a powerful tool for introducing the next generation of users to blockchain technology.

For more information about Football Rivals, users can visit t.me/footballrivalsgame.

About Koni Stack

Koni Stack is an all-in-one platform that accelerates the development and deployment of next-gen Web3 dApps. It enables developers to build intent-based dApps for the masses with zero fragmentation, using two key modules: dApp-as-a-service and mini app-as-a-service. The dApp-as-a-service module allows for seamless, unified dApps that can access users and liquidity across multiple networks with one-time deployment, while the mini app-as-a-service module lets you quickly create and deploy Telegram mini apps by simply plugging in ready-to-use modules.

About Mythical Games

Acknowledged by Fast Company’s World Changing Ideas 2021 and recently Forbes’ Best Startup Employers (2024), Mythical Games is a next-generation game company creating world-class games and empowering players to take ownership of their in-game assets through the use of blockchain technology. The team has helped develop major franchises, including Call of Duty, Call of Duty Mobile, World of Warcraft, Diablo, Overwatch, Magic: The Gathering, EA Madden, Harry Potter Hogwarts Mystery, Marvel Strike Force, Modern Warfare 3, and Skylanders. Mythical’s current games Blankos Block Party and NFL Rivals are already played by millions of consumers worldwide and create a new economy for players allowing them to engage in a new way with games but also directly trade and transact safely with other players worldwide.

The Mythical Marketplace, the first in-game blockchain Marketplace on iOS and Android, provides gamers with ownership and control over the purchase and sale of digital assets, while the Mythical Platform protects gamers that may be new to blockchain through a custodial wallet for their digital items.