Plus: Czech Republic eyes Bitcoin for national reserves
|
GM. We’ve been out picking from the blockchain vineyard – the Daily Squeeze is here with a full basket of fruity insights.
👋 Saying bye to Justin Trudeau, Michael Barr, and Rostin Behnam.
🍋 News drops: crypto forum mod forced to go into hiding, the Czech National Bank might invest in Bitcoin + more
|
🍍 Market flavor today
If crypto had a Tinder profile, today’s bio would be: “Swipe right if you can handle the heat” 🥵
The Fear & Greed Index is shining bright at 78 (still in Greed) as Bitcoin stepped back over $100K for the first time since mid-December.
Meanwhile, BTC ETFs attracted about $978.6M in new money yesterday, almost wiping out the $1.9B that left the market from December 19 to January 2.
Despite the outflows, December was a standout month for Bitcoin ETFs in the US – they added 50K BTC to their holdings when only 13,850 new coins entered the market. Translation: demand from ETFs was roughly 270% higher than the fresh supply.
Then there’s MicroStrategy, which bought an extra 1,070 BTC for $101M at about $94K per coin. Though it’s less aggressive than their December spree, it still shows they’re not backing away from their BTC strategy.
Heat rises, but don’t forget – it can cool just as fast. Soo… is it a match? 😏
|
🥝 Memecoin harvest
These memecoins prove that sometimes dumb money isn’t so dumb after all 🤪
|
|
Name |
|
24H Change |
|---|---|---|---|
 |
Glitch Gremlin AI GREMLINAI |
▲ |
|
 |
PrismAI PRISM |
▲ |
|
 |
TrustInWeb3 T3AI |
▲ |
|
 |
AI-Powered CMP AICMP |
▲ |
Data as of 07:35 AM EST.
Check out these memecoins and plenty more here.
|
If you ever feel the need to read some posts like “I went for a jog, launched a startup, and ended world hunger by 6 AM”, you know where to go: LinkedIn.
|
But you know what? Somewhere between those cringe motivational #MondayGrind speeches, we might soon see some #OpenForWork updates from certain people… and this time, it’s actually worth caring about.
1/ Justin Trudeau
Canada’s Prime Minister, Justin Trudeau, announced he’s stepping down as party leader and PM once his replacement is chosen.
This decision comes not long after Chrystia Freeland, the Finance Minister, also resigned following disagreements over handling US tariff threats.
And here’s the juicy bit – many analysts (and Polymarket) predict that Conservative leader Pierre Poilievre is gonna lead the next government.
Now, our guy Pierre:
-
Is pro-crypto and pro-DeFi;
-
Doesn’t like the idea of CBDCs;
-
Wants Canada to be a global hub for blockchain.
And we’ll take that any day.
2/ Michael Barr
Over in the US, the Fed’s Vice Chair for Supervision, Michael Barr, is out by February 28 (or earlier if they find a replacement).
Barr’s been linked to Operation Chokepoint 2.0 – an alleged federal effort to debank crypto companies.
Senator Cynthia Lummis said that Barr completely failed to fulfill his duties and that it’s time for a more crypto-friendly replacement.
3/ Rostin Behnam
CFTC Chair Rostin Behnam will step down on January 20 after four years marked by aggressive crypto enforcement.
He’s been vocal about the lack of crypto regulation and that he wants his successor to put some real boundaries in place.
And who’s next in line? Rumor has it that Brian Quintenz, a former CFTC commissioner and current policy lead at a16z, might take the spot.
If that’s true, it could mean another pro-crypto voice joining the ranks.
|
So yeah, are we gonna get one of those ‘losing a job is just a growth opportunity’ essays? Who knows.
What we do know is that the people stepping into these roles could bring some serious changes – and crypto might just be here for it.
|
🍋 News drops
🫣 A Canadian crypto forum mod has gone into hiding with his family after some kidnappers tried to snatch him, thinking he held 2.5M BTC. Spoiler: he doesn’t. The guy said, “I’m just a regular dude. I might have $10K.”
🚀 Solana devs are cooking up a new hashing system to handle the network’s growing user base. The goal? Make it possible to manage billions of accounts without the system breaking a sweat.
💸 Gemini’s handing over $5M to the CFTC to settle a beef about some claims they made seven years ago. Apparently, back then, their pitch on Bitcoin futures was a little too optimistic.
😬 US prosecutors estimate that the Terraform Labs collapse may have impacted over a million people worldwide. Quite a lot of people adding “trust issues” to their resumes…
🇨🇿 The Czech National Bank’s governor, Aleš Michl, floated the idea of using Bitcoin to diversify the country’s foreign reserves. They just keep coming…;)
|
🧃 Sip of knowledge
Learn about the Uphold Vault with the latest BitDegree Mission, “Assisted Self-Custody With Uphold Vault”:
|
🍌 Juicy memes
|
