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SEC cancels controversial crypto accounting rules

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The SEC published a new Staff Accounting Bulletin revoking SAB 121, rules that governed how financial firms should hold crypto criticized by the industry.

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This meme coin index presale could be next

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This meme coin index presale could be next

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

With OSOL AI index pumping 135%, experts suggest MEMEX’s new meme coin index presale could be next to surge.

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OSOL (OSOL), the AI Index token on the Solana blockchain, has experienced a dramatic price surge, climbing 135% in recent trading sessions.

The token, designed to provide AI-powered insights and investment tools, saw its price soar from $0.02599 to a peak of $0.08461 within 24 hours. At the time of writing, OSOL is trading at $0.04847, still maintaining an impressive 76.20% increase over the day. With a market cap of $48.23 million and 24-hour trading volume of $792,269, the token’s liquidity and demand indicate strong market engagement.

Meanwhile, a new meme coin index platform is also turning heads. Meme Index (MEMEX) has now raised over $2.7m through its presale as it seeks to provide traders with a solution to market volatility.

OSOL showcases volatile price movements

From a technical perspective, the OSOL/USDT trading chart on the hourly timeframe showcases volatile price movements.

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After the token hit its peak, it retraced to $0.04720, aligning closely with its 9-period SMA ($0.04779) and EMA ($0.04929).

The Bollinger Bands indicate high volatility, with the price hovering near the lower band at $0.03659, suggesting potential support.

On the 1-minute chart, OSOL displays a rebound from intraday lows, reflecting short-term buying pressure.

OSOL AI index pumps 135%: This meme coin index presale could be next - 1

Key indicators such as the 9-period SMA ($0.04675) and EMA ($0.04679) suggest a stabilizing trend, though the Bollinger Bands remain wide, signaling ongoing fluctuations.

As OSOL approaches its next phase, its transformative AI Index platform continues to attract investor attention.

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However, its network-specific approach has sparked discussions about the need for broader solutions that cater to multi-chain ecosystems.

MEMEX: Expanding horizons beyond Solana

The recent 135% price surge of OSOL showcases the potential of indexing solutions. However, its exclusive focus on Solana presents limitations for those seeking broader exposure across multiple blockchain ecosystems.

This is where Meme Index sets itself apart. 

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Unlike OSOL, which operates solely within the Solana network, MEMEX will span a variety of blockchains, offering a cross-chain investment platform that provides unparalleled diversification.

Meme Index could transform the way investors approach the highly volatile meme coin market.

By offering a cross-chain index platform, MEMEX will eliminate the guesswork and risks associated with chasing individual tokens. Within just one month of its presale, the project has raised over $2.7 million, cementing its position as a game-changer in the crypto space.

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The platform introduces four tailored indexes to cater to varying risk profiles and investment goals.

The Meme Titan Index focuses on established tokens like DOGE, SHIB, and PEPE, offering stability and gradual growth.

For those seeking higher returns, the Moonshot Index includes emerging tokens with market caps under $1 billion, while the Midcap Index targets mid-tier tokens poised for significant growth.

Risk-tolerant investors can opt for the Meme Frenzy Index, which features volatile and unconventional tokens, providing opportunities for exponential gains while minimizing the impact of individual token failures.

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Meme Index’s adaptability extends beyond its index offerings. Token holders can customize their portfolios, vote on which tokens are included in the indexes, and participate in governance decisions, ensuring the platform evolves with market trends.

This community-driven approach enhances the relevance and effectiveness of each index.

Priced at $0.0154693, MEMEX provides an accessible entry point for early adopters. Holders also benefit from staking with an APY of up to 846%, adding significant passive income potential.

While single-chain solutions like OSOL may appeal to Solana enthusiasts, MEMEX’s cross-chain reach and tiered risk options position it as a potentially superior choice.

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By combining diversification, adaptability, and community governance, Meme Index aims to redefine how investors engage with the meme coin market, offering a safer and smarter path to potential returns.

For more information on Meme Index, visit their website.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Crypto Exchange Phemex Suspends Withdrawals After $30M Hack

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Crypto Exchange Phemex Suspends Withdrawals After $30M Hack

Este artículo también está disponible en español.

Crypto exchange Phemex appears to have been the victim of a multi-million exploit on Thursday, according to online reports. Millions worth of USDT, USDC, Ethereum (ETH), and other crypto assets were stolen from the exchange’s hot wallets, resulting in a temporary half of withdrawals.

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Phemex Suffers First Crypto Exchange Hack Of 2025

On Thursday morning, the first crypto exchange hack of the year hit the industry. Multiple reports revealed suspicious activity involving Phemex’s hot wallets was taking place over several chains.

Blockchain security firm Cyvvers shared on X it had detected multiple transactions to several suspicious wallets on different chains, “including BNB, ETH, OP, POL, BASE, and ARB.”

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The security firm’s initial report stated that over $29 million worth of crypto had been transferred to the suspicious addresses, later raising the sum. “Upon deeper analysis, it has come to light that both BTC and TRON blockchains have also been impacted, with the estimated total loss now reaching approximately $37 million,” the update read.

Cyvvers seemingly identified around 125 suspicious transactions spread across the different blockchains and noted that the attackers had started swapping the tokens to Ethereum (ETH) to avoid potential freezing measures.

Meanwhile, on-chain data analysis firm Lookonchain broke down the crypto heist, stating that the hack had taken around $31 million worth of crypto assets. According to the analysis, 3.48 million USDC, 3.42 million USDT, and 841 ETH, worth $2.7 million were drained from the exchange’s hot wallet.

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List of stolen assets from Phemex. Source: Lookonchain on X

Additionally, the attackers took 110,701 LINK, 142 billion PEPE, 1.19 million FET, and 29,509 AVAX, valued at around $7.3 million combined. Lookonchain also listed ONDO, TRX, CRV, JASMY, AAVE, SHIB, GRT, and BRETT, as part of the stolen crypto assets.

Compensation Plan In The Works

After the news, Phemex CEO Federico Variola confirmed the attack on one of the crypto exchange’s hot wallets. Variola assured users that Phemex’s cold wallets remained safe and that they were investigating the reports.

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The exchange then announced on X the temporary halt of withdrawals due to the emergency inspection and strengthening of the security measures but did not offer further details about the incident.

To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored soon. Phemex and the development team apologize for the disruption. Our mission to provide a seamless and trusted trading environment remains firm.

Nonetheless, the post stated that ongoing business operations were fine and that trading services continued as usual. Phemex’s team also revealed they are working on a compensation plan, which will be announced soon.

It’s worth noting that, in 2024, the number of hacks and total value lost increased from the year prior. According to Chainalysis data, 2024 was the fourth consecutive year in which the funds stolen from crypto hacks exceeded the billion-dollar mark.

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Additionally, the total value stolen surged to $2.2 billion last year, and it became the year with the most individual hacks, reaching 303 incidents by December.

Centralized exchanges (CEXs) were the most targeted platforms in Q2 and Q3, recording some of the largest incidents in the industry’s history, while Decentralized finance (DeFi) platforms accounted for the largest share of stolen assets in Q1, like most quarters between 2021 and 2023.

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Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

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Morgan Stanley (MS) Figuring Out How to Act as Transactors of Crypto, Says CEO

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Morgan Stanley (Shutterstock)

Morgan Stanley (MS) is figuring out how it can act as a transactor in the crypto market, CEO Ted Pick said.

The bank, which has some $1.6 trillion of assets under management, will work with the U.S. Treasury and other regulators to figure out how it can offer crypto in a safe way, Pick said in an interview with CNBC at the World Economic Forum in Davos, Switzerland on Thursday.

“For us, the equation is really around whether we, as a highly-regulated financial institution, can act as transactors,” he said.

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Pick had been asked about his views on cryptocurrency in the U.S. under the supposedly pro-crypto presidency of Donald Trump.

He described how Morgan Stanley is assessing whether the crypto industry has come of age as an asset class.

“I think there is liquidity and that liquidity will express itself in all kinds of different ways,” Pick said in an apparent reference to the availability of crypto exchange-traded funds (ETFs) in the U.S.

U.S. spot bitcoin (BTC) ETFs now hold a combined $39 billion worth of the largest cryptocurrency and first started trading in early January last year.

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Read More: New Bitcoin ETF Promises 100% Downside Protection Against Price Volatility. Here Is How

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Profits Continue To Rotate From XRP Into The Latest Crypto Titan In The Payments Sphere: Remittix (RTX)

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Profits Continue To Rotate From XRP Into The Latest Crypto Titan In The Payments Sphere: Remittix (RTX)

The beginning of the New Year has seen some major fluctuations in the cryptoverse. Ripple, which had a wild 2024, posting a 497% net gain, experienced a small growth spurt in mid January but has now plateaued. Many holders are increasingly eyeing up a new project, Remittix (RTX), which is well on its way to disrupting the cross-border payments industry. This advanced PayFi project comes with a fresh approach to problems in the $190 trillion market, streamlining international transactions, cutting fees, and saving time for users. Its deep value proposition has seen it rack up momentum in presale, with over $5.2 million raised so far. So what is the next quarter likely to have in store for these two projects?

Ripple’s Momentum Plateaus Following 72 Hour Surge

Ripple (XRP) experienced some notable growth recently, posting a 24.16% gain in the last 7 days, and now trading at the $3.14 mark. It even peaked at $3.28, teasing the $3.50 critical support level. However, Ripple’s (XRP) momentum seems to be plateauting now. On the technical side, the Relative Strength Index (RSI) is hovering around 60, suggesting the market isn’t overbought or oversold—basically, it’s in a pretty balanced state. The Moving Average Convergence Divergence (MACD) has crossed above the signal line, indicating bullish momentum. When it comes to who holds Ripple (XRP) there’s a diverse mix. Whales control a significant portion of the supply, but there’s also a healthy number of smaller investors in the game. It looks for the moment that Ripple’s (XRP) growth spurt is over, but what direction it will go in next remains unclear.

Remittix Reinvents the Wheel for Global Payments

Gaining momentum by tackling inefficiencies in the $190 trillion cross-border payments market, Remittix (RTX) offers a transparent and reliable platform for simplifying international transactions. By providing a seamless solution for converting cryptocurrencies into fiat currencies, the platform stands out as an innovative tool in global finance.

Supporting the conversion of 40 cryptocurrencies into fiat, Remittix ensures fast, reliable transfers without hidden charges. Its flat-fee model is a major advantage, guaranteeing recipients receive the exact amount sent, no surprises, no deductions. This combination of transparency and efficiency appeals to both individuals and businesses navigating global payments.

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For businesses, the Remittix Pay API enables easy acceptance of cryptocurrency payments while allowing fiat settlement. Furthermore, merchants can utilize dedicated accounts to manage over 50 crypto pairs and 40 fiat currencies, offering unparalleled flexibility and control in the digital economy.

What truly sets Remittix (RTX) apart is its accessibility. Designed for ease of use, it allows recipients to receive payments as standard bank transfers, eliminating the need for cryptocurrency expertise. This user-friendly approach makes it an ideal solution for individuals, businesses, and merchants looking to integrate digital assets into their financial processes effortlessly. By addressing key challenges in the space, Remittix is reshaping what global payment systems can achieve.

Presale Milestone: Remittix Surpasses $5.3 Million

At the core of the Remittix ecosystem is the RTX token, a versatile asset supporting staking, platform rewards, and governance. Currently, in the midst of its presale, RTX tokens are available at an attractive price of $0.0282, with the project already raising over $5.3 million.

Experts foresee an explosive 800% price increase during the presale, with additional growth likely as the platform gains traction for its practical applications. Positioned within the lucrative cross-border payments market, Remittix (RTX) is gearing up to dominate the PayFilandscape in 2025.

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Discover the future of PayFi with Remittix by checking out their presale here:

Website: https://remittix.io/

Socials: https://linktr.ee/remittix

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice. 

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SEC’s crypto actions dropped by 30% in Gensler’s final year

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Cornerstone Research says the US Securities and Exchange Commission launched 33 crypto-related lawsuits last year, down from 47 in 2023.

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The altcoin set to change the future of global transfers

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Investors shift from Cardano and Shiba Inu to this new crypto with 50-100x potential

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Investors shift focus to Remittix, a new DeFi project raising millions in presale with hopes of changing global transfers.

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Recent reports reveal that those who have invested in top altcoins, especially Solana, have turned towards new DeFi projects like Remittix (RTX). In their optimism about this debut crypto platform, these investors predict that it will perform impressively in the industry by potentially changing global transfers.

Interestingly, Remittix is already gaining traction, especially in its token presale, which has raised millions from investors. Keep reading and find out why Remittix is poised to meet expectations.

Solana stumbles after record high

Recently, Solana saw a significant surge with the altcoin price reaching a peak of $294.33 on January 19. However, it has since fallen by 14% from that level as it is currently trading at $251. Current analysis indicates that Solana may face more challenges ahead.

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Notably, Solana’s network saw transaction fees surge to $1.4 million in 10 minutes after the TRUMP token launch, but transactions plummeted from 450,000 to 150,000. This decline indicates reduced activity and interest, contributing to the altcoin price decline from its all-time high. 

Total Value Locked (TVL) in Solana liquidity pools also dropped substantially from $12.191 billion to $10.964 billion on January 19th because investors began to lose faith in the token. 

As the TVL continues to decline, further drops in price are likely. 

Analysts suggest that if SOL falls to a support zone between $222.80 and $210.10, it might bounce back from its recent decline. However, if negative sentiment grows and the support fails, SOL could drop even lower.

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Remittix: The next-gen remittance token

Looking at the much support Remittix has gained from holders of top altcoins like Solana over the weeks, it is indeed not any regular cryptocurrency. In fact, some believe it embodies a forward-thinking approach to global transfers that prioritizes user experience, transparency and accessibility. 

The core of this platform’s features is the RTX token which benefits both growth and practical use. The project design features a permanent 1.5 billion token limit to create scarcity that benefits users when others join the platform. When users own RTX they directly participate in the platform’s development process and management decisions as stakeholders.

Remittix stands out for its commitment to transparency. Traditional cross-border payment systems often hide true transaction costs behind opaque fees and inflated conversion rates. Remittix tackles this issue head-on, making sure that users are fully aware of what they are paying. This clarity builds trust and allows users to feel confident in their transactions.

The platform also excels by integrating cryptocurrencies with conventional banking systems, creating a quick, secure, and cost-effective method for international money transfers. Users can convert over forty different cryptocurrencies into fiat currency and send it directly to bank accounts around the globe. This capability not only simplifies the remittance process but also opens doors for those who may have felt excluded from the traditional financial system.

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Excitingly, RTX is currently priced at just $0.0272 and the demand is now more noticeable than ever. With over 250 million tokens already sold, Remittix has raised more than $5.2 million in its presale. Analysts are buzzing about its potential, projecting an impressive 50x increase  in the altcoin price, possibly before the year runs out. As Remittix solidifies its position in the financial landscape with its unique blockchain-powered payment solutions, early investors are poised to reap significant rewards.

To learn more about Remittix, visit the Remittix presale and join the Remittix community.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Bitcoin (BTC) Rises to $106K as Donald Trump Slated to Call El Salvador’s Nayib Bukele

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U.S. President Donald Trump (Joseph Sohm/Shutterstock)

Bitcoin (BTC) surged past $106,000 on Thursday morning in the U.S. on reports that U.S. President Donald Trump will talk later today with Nayib Bukele, president of bitcoin-friendly nation state El Salvador.

Bitcoin advanced more than 3% to session highs in the minutes after the report, erasing early morning losses. It was up 2.2% over the past 24 hours.

Bitcoin price on Thursday morning (TradingView)

Earlier this morning, prices started to climb as U.S. Senator Cynthia Lummis posted on social media to “stay tuned for 10:00 a.m.” Eastern Time, only to gave back most of the gains after reports that the Senate Banking Committee would vote to confirm Lummis as chair of the panel’s new digital assets subcommittee.

Fueling the gains was speculation that bitcoin and crypto regulation might be among the talking points between the two leaders. El Salvador has become as a nascent crypto hub under Bukele’s leadership. It was the first nation state to adopt BTC as legal tender in 2021 and accumulated over 6,000 BTC worth $622 million as a strategic reserve.

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Trump said last year on the campaign trail that, if elected, he aims to position the U.S. as a global leader in the digital asset space. He also made several crypto-specific promises including creating a national stockpile, or strategic reserve, of bitcoin.

He’ll speak to Bukele at 3:30 p.m. ET.

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XRP Google Search Surpasses Bitcoin For First Time Ever; How Likely Is XRP To Hit $20 This Altcoin Season?

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XRP Google Search Surpasses Bitcoin For First Time Ever; How Likely Is XRP To Hit $20 This Altcoin Season?

Ripple holders have been gleeful this last week after hearing the rare news that Ripple has surpassed Bitcoin in terms of total search volume on Google, causing some to wonder whether Ripple could soar to the lofty heights of $20. Meanwhile, investors have been going crazy for a new PayFi project, Remittix, as it shakes up the financial sector. This promising protocol takes a pragmatic approach to issues within the global payments space, streamlining transactions to offer a more affordable and transparent alternative. So could Ripple’s success shine above Bitcoin’s this altcoin season, and how far could Remittix go?

XRP’s Popularity Surge and Price Prospects

As Ripple (XRP) overtakes Bitcoin in global Google search trends, the heightened interest has been reflected in Ripple’s price movements. Ripple (XRP) surged astronomically earlier this week, rising from $2.56 on the 14th January, up to $3.38 on the 16th. Though Ripple’s progress has plateaued over the last 24 hours, analysts are optimistic about Ripple’s (XRP) potential, with some predicting a rise to $20 during this altcoin season. This projection is based on Ripple (XRP) breaking a multi-year downtrend and accumulating significant market pressure over the past six years.

Remittix Brings a New Era for Global Payments

Remittix bridges the blockchain ecosystem with traditional banking systems to simplify cross-border transactions. It enables users to exchange more than 40 cryptocurrencies into fiat currency and send funds directly to bank accounts worldwide. Unlike outdated systems that impose hidden fees and lengthy delays, Remittix employs a flat-fee model and ensures 24-hour transfers.

Privacy is a standout element of the Remittix platform. Transactions processed through Remittix appear as ordinary bank transfers, leaving no trace of their cryptocurrency origins. This feature provides users—whether individuals or businesses—with discretion, making blockchain technology adoption more approachable and less subject to scrutiny.

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Furthermore, Remittix delivers financial services to underserved populations. By operating 24/7 and bypassing traditional banking systems, the platform democratizes access to international financial networks, fostering greater inclusion and reducing barriers for underbanked regions.

Remittix Presale Soars, Surpassing $5.3 Million

The $RTX token is the heartbeat of the Remittix ecosystem, fulfilling essential roles in staking, rewards, and governance. Designed for growth and durability, $RTX is currently available for just $0.0282.

With over $5.3 million raised so far, the presale is picking up steam, and analysts are predicting an 800% price surge by the presale end with further growth to follow the launch.

Remittix is poised to become a game changer in the financial sector, and for those interested in PayFi, this market disruptor is not one to pass up on in 2025.

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Discover the future of PayFi with Remittix by checking out their presale here:

Website: https://remittix.io/

Socials: https://linktr.ee/remittix

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice. 

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Morgan Stanley to explore crypto offerings for clients — CEO

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The financial services giant is also considering adding crypto to its trading platform, E-Trade, due to a change in regulatory climate.

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Solana nears $300, XYZVerse and HBAR target massive breakouts

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2 crypto coins set to crush Cardano for gains in Q1 2025

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

XYZVerse and HBAR target massive breakouts as Solana nears the $300 milestone.

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Excitement builds as Solana (SOL) moves closer to a significant price achievement of $300. Simultaneously, tokens like XYZVerse (XYZ) and Hedera (HBAR) are poised for potential massive gains, with forecasts suggesting 50-fold increases. This potential surge hints at major shifts in the crypto landscape.

XYZ eyes 66% price surge

XYZ looks to redefine the meme coin game as the first-ever sports-focused token, blending the global appeal of sports with the viral momentum of meme coins. As the MVP of the XYZVerse ecosystem, it’s designed for crypto enthusiasts who live for the thrill of competition and massive gains.

In 2024, meme coins dominated the crypto landscape, with market capitalization soaring 500% within a year. XYZ is poised to take the crown as the G.O.A.T. of meme coins, aiming for an incredible 4,900% surge by the end of its presale.

  • Initial price: $0.0001
  • Current stage (10th): $0.002
  • Upcoming stage (11th): $0.0025 (+25%)
  • Final target: $0.1

Early investors who joined at the first stage enjoyed a massive 99% discount, and with the presale nearing its final stages, the opportunity to capitalize on these gains is slipping.

XYZ is setting itself apart with upcoming listings on major centralized (CEX) and decentralized exchanges (DEX), robust security through audited smart contracts, and a seasoned, fully vetted team. This first-mover advantage positions XYZ as a powerhouse in the meme coin market, ready to deliver massive returns for early adopters.

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Interested investors can join the XYZ presale.

Solana

Unlike some of its competitors like Ethereum and Cardano, Solana is designed to handle a high number of transactions quickly. This makes it an attractive platform for developers building decentralized applications (dapps). Its flexible architecture allows coding in multiple programming languages, making it accessible to a broad range of developers.

At the heart of Solana’s network is the SOL coin. This cryptocurrency powers transactions, runs custom programs, and rewards those who support the network. In today’s market, where the need for fast and scalable blockchain solutions is growing, SOL’s technology and potential make it a coin worth watching.

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Hedera

Hedera uses a method called hashgraph. This allows for faster and cheaper transactions without the need for energy-intensive mining. Because of this, Hedera is more friendly to the environment. 

Its native currency, HBAR, is used to pay for transactions and secure the network. HBAR is catching more eyes. Big industry players back Hedera, which adds trust and potential for real-world use. While its patented technology might limit community involvement compared to open-source projects, its advantages in speed and efficiency stand out. 

As the market trends toward greener and more efficient solutions, HBAR looks attractive. It offers what many are seeking: sustainability, lower costs, and high performance. Compared to older coins that struggle with speed and energy use, HBAR could be a strong contender in the current market.

Conclusion

With SOL and HBAR aiming for big gains, XYZVerse’s unique sports-meme platform could see even greater growth during this bull market.

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For more information on XYZVerse, visit their website, Telegram, or X.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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