Daily Recap 1-11

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CryptoQuant reports that today, the over-the-counter trading volume of BTC on Coinbase hit $7.7 billion, marking it as the second-largest in its history. Furthermore, the daily trading volume of BTC on crypto exchanges soared to $52 billion, a peak not seen since March 2021. Link

Reuters reports that Circle Internet Financial, known for its stablecoin USDC, announced on Thursday its confidential submission for an initial public offering in the U.S. Link

The official SEC website reveals that out of the five members, Chairman Gensler, Peirce, and Uyeda casted their votes in support of the Bitcoin spot ETF. On the other hand, Crenshaw and Lizárraga opposed it. The final vote resulted in a 3-2 victory in favor of the ETF. Link

The Near Foundation is cutting its workforce by 40%, affecting 35 employees mainly in marketing, business development and community areas. The Near protocol engineering team remains intact. Despite the cuts, the Foundation states that it maintains a robust financial position with over $285 million in fiat, 305 million NEAR tokens valued at about $900 million, and $70 million in investments and loans. Link

Vanguard has implemented a policy preventing its clients from purchasing Bitcoin ETFs. Link

Protocol Developments 

Orbiter Finance - Confirms token and announces they will gradually unveil the tokenomics and distribution plan. Link

$FTT - FTX claim objection timeline reached at 4:00 pm ET today. 

$INJ - Injective releases its largest mainnet upgrade to date. Link

$GNO - Gnosis Chain has scheduled a hardfork for its Chiado Testnet, set to occur on January 31. Link

Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.