📈 Crypto Market Bounces After Fed Keeps Rates Steady

GM Defiers!

The cryptocurrency market rallied this week, with Bitcoin and Ethereum surging following the Federal Reserve’s decision to keep interest rates steady. Hyperliquid made headlines after surpassing Ethereum in daily fees and revenue.

Meanwhile, crypto hacks totaled $74 million in Jan., a significant portion of which came from CeFi platforms. In the world of blockchain development, Cardano achieved a major milestone, transitioning to full decentralized governance with the completion of its Plomin hard fork.

✍️ In today’s newsletter:

Crypto market extends gains
Hyperliquid overtakes Ethereum in fees and revenue
Crypto hacks total $74M in January
Venmo co-founder introduces fair-launch token for new platform
SEC moves closer to decision on Litecoin ETF
MarginFi unveils new staked collateral feature
Paradigm shares warning over Ethereum's future
Gemini research shows widening gender gap in crypto ownership
Cardano’s Plomin hard fork paves way for decentralized governance

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📈Crypto Market Extends Gains After Fed Holds Rates Steady

The cryptocurrency market rallied Thursday following the Federal Reserve's decision to keep interest rates unchanged. Bitcoin rose 2.3% to $105,500 while Ethereum climbed 5% to $3,270.

🚨Hyperliquid Flips Ethereum in Fees and Revenue as Token Rallies

Hyperliquid surpassed Ethereum in daily fees and revenue on Jan. 28. Over that 24 hours, Hyperliquid processed $1.93 million in fees, while Ethereum generated $1.82 million in fees.

🤑Crypto Hacks Total $74M in January and CeFi Accounts for 93% of Losses

Cryptocurrency hacks caused $74 million in losses in Jan. 2025, representing a 45% drop from $133 million last year. CeFi accounted for a majority of the losses.

🪼Venmo Co-Founder Releases Fair-Launch Token for New Platform, JellyJelly

The idea of Pump.Fun as an ICO platform is gaining traction after Venmo co-founder Iqram Magdon-Ismail launched a new token.

👩🏻‍⚖️SEC Edges Closer to Decision on Canary Capital’s Litecoin ETF

The SEC is nearing a decision on Canary Capital’s proposed Litecoin ETF after formally acknowledging its 19b-4 filing.

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Web3 is often fragmented, with users struggling to manage multiple blockchains, wallets, and bridges. Okto is addressing this by adopting ERC-7683, a proposed Ethereum standard that simplifies cross-chain interactions. Instead of dealing with complex processes, users can express their goals—like swapping tokens—in a single message. Specialized "fillers" then handle the technical details, executing these tasks across chains. This reduces confusion, lowers costs, and improves efficiency. Okto is integrating ERC-7683 into its platform to create a more unified and decentralized Web3. Although still in draft status, ERC-7683 has gained support from major protocols like Across Protocol, Uniswap Labs, and Polygon Labs, aiming to make cross-chain transactions as seamless as browsing the internet.

🌍 ELSEWHERE

Grayscale launches dogecoin-focused fund as altcoin adoption picks up pace (Reuters)
MicroStrategy keeps buying more Bitcoin. Here's how much it owns now (Quartz)
Tether Reports $13B Profit for 2024, With Rising Bitcoin, Gold Prices Contributing (CoinDesk)