CryptoCurrency
TRUMP dips after president admits ‘I don’t know much about it’
The Official Trump token fell from $48 to $42 after the US president seemed unfamiliar with his own memecoin.
The U.S. President has finally addressed the explosive success of his Official Trump (TRUMP) meme coin, admitting that he wasn’t involved much in the project beyond launching it.
The Solana-based token, touted as the fastest-growing meme coin in history, initially skyrocketed to a $15 billion market cap over the weekend before dropping to around $8 billion following the release of a competing coin by First Lady Melania Trump.
“I Don’t Know Much About It”
At a press briefing on Tuesday to announce a $500 billion joint venture between OpenAI, Oracle, and SoftBank, the President was asked by a reporter if he intended to continue selling products that benefited him in reference to the TRUMP token.
In response, the head of state said he didn’t know if he’d benefited, admitting that he had no knowledge about the status of the coin. “I don’t know if it benefited [me]. I don’t know where it is,” he said.
He further dismissed any suggestion that he had a deep understanding of the project. “I don’t know much about it other than I launched it,” he stated. “I heard it was very successful. I haven’t checked.”
Trump then inquired about the current value of the meme coin, with a reporter telling him he’d made a lot of money. “How much?” the President asked. “Several billion dollars,” the journalist replied, to which Trump responded, “That’s peanuts to these guys,” referring to people who were at the briefing with him, including Masayoshi Son of SoftBank, OpenAI’s Sam Altman, and the world’s fourth-richest man, Larry Ellison of Oracle.
Divisive Impact on the Crypto Space
The TRUMP meme coin has become a lightning rod for controversy, with critics warning it could undermine the credibility of the crypto market. Yesterday, billionaire investor Mark Cuban dismissed the project, describing it as a gamble that could harm the industry’s legitimacy without proper regulations. Before him, former Coinbase CTO Balaji Srinivasan highlighted the speculative nature of such assets, calling it a “zero-sum lottery.”
There is also a supposition that the ownership of the TRUMP token is dominated by insiders, further fueling concerns about transparency and market manipulation. Some also feel that the President having skin in the meme coin game could hinder bipartisan efforts to advance much-needed crypto legislation.
This view is shared by TD Cowen, with The Block reporting that the financial services firm had warned that possible investigations into TRUMP’s market influence might stall regulatory progress and deepen partisan divides.
At the time of writing, Official Trump was trading at $43.02, having gained 18% in the last 24 hours. The price is still 41% below the coin’s all-time high, but its $8.5 billion market cap places it as the third-largest meme token in the market, behind Dogecoin and Shiba Inu.
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On Tuesday, tech giant MicroStrategy purchased an additional 11,000 Bitcoin (BTC) for approximately $1.1 billion, as disclosed by its chair and co-founder Michael Saylor in a social media post on X (formerly Twitter).
This acquisition marks the company’s 11th consecutive week of Bitcoin purchases, reinforcing its status as a significant player in the digital currency space. Saylor has been at the forefront of this strategy, positioning the enterprise software company as a leveraged Bitcoin proxy.
MicroStrategy Bitcoin Holdings Surge
According to Microstrategy’s filing with the US Securities and Exchange Commission (SEC), the firm acquired the Bitcoin at an average price of about $101,191 per token between January 13 and January 20.
With this latest purchase, the firm now holds over 2% of all Bitcoin that will ever be mined, representing approximately $47.9 billion in total Bitcoin holdings. MicroStrategy has been funding these acquisitions through a combination of at-the-market stock sales and convertible debt offerings.
The timing of this latest purchase aligns with a broader shift in the regulatory environment under President Donald Trump, who has transitioned from being a crypto skeptic to a supporter of the industry.
This change is expected to create a more favorable regulatory framework for cryptocurrencies, prompting Saylor and MicroStrategy to accelerate their capital goals and Bitcoin buying efforts.
Ahead of Trump’s inauguration, the firm’s co-founder even attended the first ever “Crypto Ball” in Washington on Friday, where he engaged with key figures in the incoming administration.
New Shares To Support BTC Strategy
In a related development, MicroStrategy shareholders voted also on Tuesday to approve a staggering 30-fold increase in the number of authorized Class A common shares, raising it from 330 million to 10.3 billion.
According to a Bloomberg report, this decision, which passed with around 56% of the vote, is designed to facilitate further financing for the company’s Bitcoin purchases. Additionally, shareholders voted to increase the authorized shares of preferred stock from 5 million to 1 billion.
These amendments will take effect once MicroStrategy files the necessary certificate of amendment with the Delaware Secretary of State. The report notes that with Chairman Saylor holding about 47% of the voting power, the outcome was largely anticipated.
The newly authorized shares will also be utilized for various financial strategies, including private transactions of Class A stock, sales of at-the-market equity offerings, and settling redemptions or conversions of convertible notes. However, the company has indicated that it may choose not to sell all of the additional shares.
At the time of writing, Bitcoin continues to experience significant price volatility, with its price hinting at a new record high. It is currently trading at $106,400, representing a 2.5% increase in the 24-hour time frame.
Featured image from DALL-E, chart from TradingView.com
Eric Conner, a prominent core developer at Ethereum, has left the ecosystem community after a nearly 11-year affiliation citing network co-founder Vitalik Buterin’s dismissal of a leadership shake-up proposal.
Conner is a co-author of EIP-1559, the major network change that shifted how transaction fees worked on Ethereum. He isn’t officially employed by Ethereum but has advised, invested, and was among those who led the charge on ecosystem growth since its early days.
Conner is joining AI-focused protocol Fresya.AI, he said in a follow-up X post.
Buterin swatted calls for changing the leadership structure at the Ethereum Foundation, which oversees the development of the second-largest blockchain by market cap.
Buterin said on X that he wants to create a “board” to manage the foundation, but until then he is the leader. Buterin’s comment came amid calls by ecosystem stakeholders for a change in the network’s leadership with founding member Anthony Donofrio opining that the blockchain has lost its way.
The network is also planning to roll-out its Pectra upgrade, which promises speed efficiency and other improvement, in March.
CryptoCurrency
Crypto Price Analysis 1-22: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGWIFHAT: WIF, HEDERA: HBAR, STELLAR: XLM
Bitcoin (BTC) has gained nearly 3% over the past 24 hours, approaching its all-time high at one point as the Trump administration completed its first day in office. Markets were choppy but stabilized after the United States Securities and Exchange Commission unveiled plans to overhaul rules and regulations for the sector. BTC is trading around $105,846 and has registered gains of nearly 10% over the past week.
The crypto market has rebounded over the past 24 hours. Ethereum (ETH) rose nearly 3% to reclaim $3,300 and is currently trading around $3,342. Meanwhile, Ripple (XRP) is up 2.50%, while Solana (SOL) is up nearly 8%, remaining above $250. Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Tron (TRX), Sui (SUI), Polkadot (DOT), and Litecoin (LTC) also registered substantial gains. The TRUMP meme coin is also up nearly 15%, gaining a staggering 530% since launch.
SEC Gives Crypto First Win Of Trump Presidency
The United States Securities and Exchange Commission’s new leadership has announced the creation of a task force to develop a clear regulatory framework for digital assets. This is the first attempt by the Trump administration to overhaul crypto policy. Coinbase Chief Legal Officer Paul Grewal said the SEC is moving quickly on Trump’s agenda, stating,
“The president has moved quickly on his agenda. The SEC has made it clear they understand that and want to be a part of that.”
The task force was created by the acting Chair of the SEC, Mark Uyeda. Its primary goal would be to develop a clear and comprehensive regulatory framework for crypto assets. SEC Commissioner Hester Pierce will lead the task force. Pierce has urged the public to collaborate with the SEC to shape the future of crypto. However, she added that the process would require significant time and effort.
“This undertaking will take time, patience, and much hard work. It will succeed only if the Task Force has input from a wide range of investors, industry participants, academics, and other interested parties.”
The task force was announced a day after former SEC Chair Gary Gensler stepped down, and President Trump nominated Uyeda as acting Chair. Trump has nominated Paul Atkins as the next Chair of the SEC. However, the pick is subject to approval from the US Senate. The SEC released a statement on its website regarding the task force, stating,
“Drawing from talented staff across the agency, the Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law. To date, the SEC has relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way. Clarity regarding who must register and practical solutions for those seeking to register have been elusive. The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud. The SEC can do better.”
TRUMP, MELANIA Meme Coins Crash After Inauguration
The cryptocurrency market witnessed a sharp pullback on Tuesday following the inauguration of Donald Trump. Despite reaching a new all-time high on Monday, Bitcoin (BTC) registered a dramatic drop, falling to $102,408 before recovering on Tuesday. The sharp decline came after Trump emphasized his plans for imposing trade tariffs, amending immigration policy, and energy deregulation. However, Trump did not make any specific references to crypto. Failure to mention crypto in his inaugural speech has left some market watchers disappointed at a time when expectations from the Trump administration regarding digital assets were sky-high. Matthew Dibb, the Chief Investment Officer at Crypto Asset Manager Astronaut Capital, stated,
“I think in the short term there’s a chance this could be a sell-the-news event. The market has some great expectations about a Bitcoin strategic reserve and a loosening of regulations around digital assets, but it’s more likely these developments will be drip-fed over a series of months rather than days. Bitcoin has already retreated … We expect further volatility here and likely a selloff.”
The Trump administration is expected to introduce several regulatory changes and potentially create a Bitcoin strategic reserve. However, Trump’s involvement in the crypto market has led to ethical concerns and concerns about potential conflicts of interest.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has registered a marginal dip during the ongoing session as it struggles to build momentum despite surging to an all-time high on Monday. BTC reached $109,350 on Monday but quickly plummeted to test the $100,000 support, dropping to an intraday low of $99,514 before recovering to settle at $102,408. BTC’s price action suggests that despite a bullish market, sellers are keeping pressure on the $100,000 price boundary. Trump’s inauguration day saw significant price volatility but disappointed many in crypto after the president failed to mention BTC, crypto, or a Bitcoin strategic reserve. As a result of the volatility, longs saw significant liquidations. One analyst on X stated,
“I’d take a long from 99.5K~ if offered. I think the gray box needs to hold for local bullishness, and sweeping all the Trump leadup/news PA makes sense. I’d also accept a sweep of the 97K low, but that’s the farthest it should go. Any good amount of time spent past 96-97K and my plan / read is likely off. Inval low 90’s, aiming for new ATH’s.”
The Bitcoin price chart suggests considerable choppiness in the market, and we could see a definitive trend emerge by the end of the week. While BTC has maintained an upward trajectory after recovering from last week’s collapse, it has faced increasing volatility over recent sessions. BTC plummeted to an intraday low of $89,397 on Monday as selling pressure peaked. However, it recovered to reclaim $90,000 and ultimately settled at $94,492. Markets recovered on Tuesday, and BTC registered an increase of 2.19%, going past the 20-day SMA and settling at $96,566. Bullish sentiment intensified on Wednesday as BTC crossed the 50-day SMA, registering an increase of 3.61% and settling at $100,051. Sellers returned to the market on Thursday as BTC dropped to an intraday low of $97,094. However, it recovered from this level and settled at $99,798, ultimately registering only a marginal decline.
Source: TradingView
BTC made a strong recovery on Friday, rising almost 4% to surge past $100,000 and settle at $103,732. However, bearish sentiment and volatility returned over the weekend as BTC plummeted to an intraday low of $101,591 on Saturday before ultimately settling at $103,579. Buyers attempted a recovery on Sunday as BTC surged to an intraday high of $106,552. However, it lost momentum after reaching this level and registered a drop of just over 2% to settle at $101,434. BTC rallied to a new all-time high on Monday when it hit $109,350. However, it rapidly declined after reaching this level and settled at $102,408, registering an increase of nearly 1%. Sellers attempted to drive BTC below $100,000 on Tuesday as the price dropped to an intraday low of $100,173. However, buyers bought the dip, allowing the price to recover. As a result, BTC rose 3.56% and ended the day at $106,054. The current session sees BTC marginally down as sellers look to drive the price below $105,000. However, if market sentiment changes and buyers regain control, BTC could see a move past $110,000.
Ethereum (ETH) Price Analysis
Ethereum (ETH) is trading close to the psychological $3,300 level as it continues to experience volatility, leading to a considerable lack of momentum. ETH’s price struggles come as Ethereum co-founder Vitalik Buterin lashed out at growing criticism of Ethereum Foundation executive director Aya Miyaguchi and calls for her to step down from her role. The ongoing tussle between the Ethereum Foundation and the Ethereum community has also had a detrimental impact on ETH, with the asset underperforming compared to BTC, XRP, and SOL over the past weeks.
ETH’s price chart shows the asset experiencing significant volatility since recovering from an intraday low of $2,927 on Monday. ETH recovered to reclaim $3,000 and settle at $3,137 before registering an increase of 2.85% on Tuesday and moving to $3,336. Bullish sentiment registered a substantial increase on Wednesday as ETH surged past the 20-day SMA, rising nearly 7% to $3,450. However, buyers lost momentum after reaching this level, and ETH dropped 4.10% on Thursday to slip below the 20-day SMA and settle at $3,308. Buyers returned to the market on Friday, with ETH registering an increase of nearly 5% to move past the 20-day SMA and settle at $3,473. Once again, ETH was back in the red on Saturday, dropping nearly 5% to slip below the 20-day SMA and settle at $3,305.
Source: TradingView
Sellers retained control on Sunday after thwarting a recovery attempt. As a result, ETH dropped nearly 3% to $3,212. The current week began with ETH experiencing significant volatility as buyers and sellers attempted to establish control. Buyers ultimately gained the upper hand as ETH rallied to an intraday high of $3,446 before settling at $3,280. Buyers retained control on Tuesday, with ETH rising 1.44% to $3,327. However, ETH is struggling to move past the 20-day SMA, which acted as a dynamic resistance level. The current session sees ETH marginally down and trading just above the $3,320 level. If sellers continue to dominate the market, ETH could decline to $3,000. On the other hand, if buyers regain control, ETH could look to move past the 20-day SMA and push towards $3,500.
Solana (SOL) Price Analysis
Like Bitcoin (BTC), Solana (SOL) too surged to a new all-time high on Sunday, driven by the launch of the TRUMP and MELANIA meme tokens created on the Solana blockchain. The success of both meme coins generated considerable interest in SOL as well, helping boost the price. SOL has been bullish since recovering from an intraday low of $169 last Thursday. SOL recovered on Tuesday, rising 2.58% to $187. Bullish sentiment registered a substantial increase on Wednesday as SOL surged past the 20-day SMA and $200 to settle at $205 after rising nearly 10%. Buyers retained control on Thursday as SOL pushed above the 50-day SMA and settled at $211. Friday saw SOL register an increase of 4% and move to $219.
Source: TradingView
The weekend saw renewed buying activity as SOL surged a staggering 19.19% on Saturday to smash past $250 and settle at $261. Bulls retained control during the first half of Sunday as SOL surged to a new all-time high of $295. However, it could not get beyond this point as buyers lost momentum. As a result, sellers took over, and SOL dropped nearly 4% to $252. Buyers attempted a recovery on Monday as SOL reached an intraday high of $272. However, sellers took control and drove SOL below $250 to $241. The price recovered on Tuesday despite considerable volatility, rising 3.47% to reclaim $250. The current session sees SOL up by 2.31% and trading around $256. Buyers will look to build momentum and push towards $280-$290.
Dogwifhat (WIF) Price Analysis
Dogwifhat (WIF) has been trading in a downward trajectory since the weekend after failing to move past $2 on Sunday. WIF was quite bullish last week despite starting it on a bearish note. The meme coin recovered from Monday’s low to register an increase of nearly 4% on Tuesday and settle at $1.54. Bullish sentiment registered a substantial increase on Wednesday as WIF rallied a staggering 14% and settled at $1.76. With the 20-day SMA coming into play, WIF lost momentum on Thursday and registered a marginal decline. However, it recovered on Friday, rising 6.14% to move past the 20-day SMA and settle at $1.87.
Source: TradingView
Buyers attempted a move past $2 on Saturday as WIF reached an intraday high of $1.98. However, WIF lost momentum at this point and dropped over 5% to slip below the 20-day SMA and settle at $1.77. Bullish sentiment intensified on Sunday as WIF dropped nearly 14% to $1.53. The current week began with WIF firmly in the red, dropping over 9% to $1.38. Buyers returned to the market on Tuesday as WIF rose 4.50% to settle at $1.45. The current session sees WIF marginally down, trading around $1.43.
Hedera (HBAR) Price Analysis
Hedera (HBAR) surged to an intraday high of $0.402 on Friday but has since been trading primarily in the red as selling pressure intensifies. HBAR’s bullish momentum began on Tuesday when it registered a substantial increase of 4.25% to move past the 50-day SMA and settle at $0.287. Buying activity registered a significant increase on Wednesday as HBAR surged past the 50-day SMA and $0.30 to settle at $0.322 after an increase of 12.09%. Bullish sentiment persisted on Thursday as HBAR surged over 12% and moved to $0.361. The price reached an intraday high of $0.402 on Friday. However, buyers lost momentum at this point, and the price dropped to $0.373, an increase of 3.23%.
Source: TradingView
HBAR turned bearish over the weekend, dropping nearly 5% on Saturday and settling at $0.355. Bearish sentiment intensified on Sunday, with the price dropping 8.48% to $0.324. Buyers returned to the market on Monday as HBAR rose to an intraday high of $0.373. However, it could not go higher and ultimately settled at $0.342, registering an increase of 5.32%. HBAR registered a marginal decline on Tuesday, dropping nearly 3% during the ongoing session and trading around $0.327.
Stellar (XLM) Price Analysis
Stellar (XLM) surged past the 50-day SMA last Wednesday after registering a staggering rise of nearly 14% and moving to $0.488. Buyers pushed the price to an intraday high of $0.514 on Thursday. However, XLM lost momentum after reaching this level and dropped 1.28% to $0.482, but not before falling to an intraday low of $0.464. Buyers returned to the market on Friday as XLM rose 1.24% to $0.488. XLM dropped to an intraday low of $0.451 on Saturday as sellers attempted to drive the price below $0.45. However, XLM recovered from this level to register a marginal increase and end the day at $0.49.
Source: TradingView
Selling pressure returned on Sunday as the price plummeted over 11%, slipping below the 20-day SMA and settling at $0.433. The current week began with XLM rising to an intraday high of $0.477. However, the price could not push higher and ultimately settled at $0.445, registering an increase of nearly 3%. Bearish sentiment returned Tuesday as XLM dropped almost 1% to $0.441. The current session sees XLM down 2% and trading around $0,432.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Ethereum core developer Eric Conner exits, citing Vitalik Buterin’s leadership decisions, shifts focus to building AI tools like Freysa.ai.
CryptoCurrency
Inheritance tax receipts hit £6.3bn as HMRC rake in ‘record sums’ in bonus for Government coffers
HMRC has raked in an extra £620million as inheritance tax (IHT) receipts hit £6.3billion for the first three quarters of the 2024/25 financial year.
As inheritance tax receipts continue to rise, Britons are reminded they can claw back some cash from the taxman with effective tax planning.
The rise in receipts is mainly due to increasing asset prices, the freezing of tax thresholds (which has been extended for another two years in the Budget), and additional changes to inheritance tax rules.
These factors are expected to keep driving higher IHT revenues for the Government.
There are specific factors which are expected to keep driving higher IHT revenues for the Government
GETTY
Stephen Lowe, group communications director at retirement specialist Just Group said: “The latest IHT receipts data for December will be a welcome end-of-year bonus for the Government’s coffers as the tax continues to deliver record sums.
“The latest changes to IHT announced by the Chancellor in the Autumn Budget are likely to see the Treasury collect billions more in Inheritance Tax before the end of the decade.
“According to OBR estimates approximately one in 10 deaths is forecast to incur IHT by 2029-30, almost double the proportion in 2023-24, as the tax begins to bite a wider swathe of Middle Britain.”
The specialist has encouraged people to make sure they have an up-to-date valuation of their estate, including a recent assessment of their property wealth, to help them understand if they are likely to incur IHT.
Estate planning is complex and professional financial advice can be “immensely helpful” for people who want to manage their estate efficiently and “pass on the maximum inheritance to loved ones”.
Shaun Moore, tax and financial planning expert at Quilter said: “This relentless rise is no coincidence. With inheritance tax thresholds frozen until 2030, more families are being pulled into the scope of IHT, and this trend shows no signs of slowing.
LATEST DEVELOPMENTS:
“Add to that the significant changes coming in April 2027, when pensions will be drawn into taxable estates, and the Government looks set to cash in on an ever-expanding pool of taxpayers.
“Farming families, too, could face tougher times as reductions to Agricultural Property Relief start to bite, potentially forcing some to make difficult decisions about the future of their farms.
“Meanwhile, tweaks to Business Relief and AIM share rules are also likely to keep boosting HMRC’s coffers in the years ahead.”
How to cut your inheritance tax bill
Giving away assets during one’s lifetime could help their loved ones pay less inheritance tax, but strict rules are in place:
- Anyone can give up to £3,000 of their assets to loved ones each tax year without that sum becoming liable for IHT. If they didn’t use the allowance last year, they can combine it and pass on £6,000.
- Britons can give £5,000 to their children for their wedding, £2,500 to their grandchildren or great-grandchildren, and £1,000 to any other person.
- They can make further gifts as they please, but if they die within seven years of making the gift, IHT will be payable on a sliding scale known as taper relief.
Britons can also make gifts out of any excess regular income.
Gifts from surplus income are not subject to inheritance tax, no matter how large the amount. But to qualify, the gift-giver must be able to prove the gift has come from income rather than capital. The gift must also not impact the giver’s quality of life.
MicroStrategy’s Bitcoin playbook gains a new player as Critical Metals announces a $500M BTC treasury allocation.
On Jan. 21, Critical Metals Corp, the first Nasdaq-listed mining company to announce such a move, revealed that its Board of Directors had approved a Bitcoin (BTC) treasury strategy. The company plans to hold Bitcoin as a primary asset in its treasury, treating it as a key asset in its treasury management strategy.
The strategy is supported by a financing agreement with JBA Asset Management, which allows Critical Metals Corp. access to up to $500 million to acquire Bitcoin. The first $100 million tranche is available for BTC purchases, subject to certain undisclosed conditions.
The first $100 million comes with 100% warrant coverage. Simply put, this means that investors who put in money will have the right to buy extra shares of the company in the future, equal to the full amount they invested, at a fixed price.
For the remaining $400 million, which is optional and could be accessed later, the coverage is 50%. This means that for every dollar invested, the investor can buy extra shares worth half the value of their investment, at a fixed price.
The notes issued in the financing will be secured by the cash raised, and any BTC purchased under the program are convertible into the company’s common stock at a price of $6.00 per share, with warrants associated with the conversion at the cost of $7.00 per share.
Critical Metals’ Bitcoin treasury strategy strongly comports with Donald Trump’s renewed tenure as America’s president and his pro-crypto government policy.
Tony Sage, the Executive Chairman and CEO of Critical Metals has also expressed his intent to buy BTC through the company’. He says that by adopting this Bitcoin strategy, Critical Metals seeks to bolster its balance sheet and use BTC as a hedge against possible inflation.
He also noted that the strategy is in line with initiatives in Western governments, including proposals for many countries looking to create a National Bitcoin Reserve.
Critical Metals has now joined the ranks of prominent companies like MicroStrategy, the world’s largest publicly traded Bitcoin holder.
On Jan. 21, MicroStrategy disclosed that it had added another 11,000 Bitcoin to its holdings, purchasing the digital asset for $1.1 billion. With this addition, the company now holds a total of 461,000 Bitcoin, having spent approximately $29.3 billion to acquire them over time.
On Jan. 21, Ethereum co-founder Vitalik Buterin firmly asserted his sole authority over Ethereum Foundation leadership decisions, stating that it will remain until reforms establish a “proper board.”
“The person deciding the new EF leadership team is me. One of the goals of the ongoing reform is to give the EF a ‘proper board’, but until that happens it’s me,” he said on X.
The post came in response to significant backlash against Aya Miyaguchi, the Foundation’s executive director since 2018, with accusations of inefficiencies during her tenure.
“If you ‘keep the pressure on,’ then you are creating an environment that is actively toxic to top talent,” Buterin said in response to the social media backlash.
No. This is not how this game works.
The person deciding the new EF leadership team is me. One of the goals of the ongoing reform is to give the EF a “proper board”, but until that happens it’s me.
If you “keep the pressure on”, then you are creating an environment that is…
— vitalik.eth (@VitalikButerin) January 21, 2025
EF Backlash Mounts
Buterin announced changes to the Foundation’s leadership on Jan. 18, focusing on supporting dApp developers and promoting decentralization.
However, he emphasized the foundation would not engage in ideological shifts, political lobbying, or take a more central ecosystem role.
There is strong community pressure to promote developer Danny Ryan to a leadership position. On Jan. 22, Ryan, who left the EF in 2024 due to health issues, said, “Some of the discourse has turned counterproductive,” before adding:
“These are real people attempting to sort through and do what is best. With or without me, the EF is evolving and for the better. You’ve been heard, but vitriol is ultimately harmful to this process.”
Just to fill you in: I left the EF last year due to health issues and in an attempt to clear my head after working my ass off exclusively at the EF and on Ethereum for seven years.
I stepped aside, and the EF and the broader Ethereum ecosystem moved on without missing a beat—new…
— dannyryan (@dannyryan) January 21, 2025
Fellow developer Eric Connor announced his departure from the Ethereum ecosystem, stating:
“The Ethereum Foundation is a leftist-driven, anti-winning swamp. 80% of the budget can be cut and Ethereum would function and progress just fine.”
Meanwhile, Ethereum educator Anthony Sassano highlighted all the good things that the EF has done, stating, “Ethereum is much bigger than the EF,”
I am not an EF apologist or think that the EF is perfect and can do no wrong, but I think it’s worth highlighting some of the positive stuff they’ve done recently:
– Revived the @ethereum account (it’s no where near good enough yet, but it’ll get better)
– Moved 50k ETH into a…— sassal.eth/acc (@sassal0x) January 22, 2025
ETH Price Flounders
Nevertheless, the situation appears to have created tension between Buterin’s desire to reform the Foundation while maintaining control over leadership decisions. Additionally, the dissent and recent EF ETH sales have dampened ETH prices, which have been consolidating for the past month.
ETH has gained 2.4% on the day to reach $3,330 at the time of writing, but most of the other altcoins are still outperforming it.
The asset failed to follow Bitcoin, XRP, and Solana to existing or new peaks and remains down 32% from its 2021 all-time high.
This is all despite US President Donald Trump actively buying ETH and the premise of staked Ethereum ETFs being approved by the SEC soon.
Tension within the Ethereum (and Bitcoin) communities is nothing new, and the ecosystem has survived and improved.
the last time there was this dissent in Ethereum
was February 2020 with the gory fight and eventual rejection of ProgPoW
(this is financial advice) pic.twitter.com/8P8vBJ2qra
— DCinvestor (@iamDCinvestor) January 21, 2025
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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
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.
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