๐ต๏ธ In response to concerns about Bitmine (BMNR) facing a $6.6 billion unrealized loss and potential selling pressure on ETH prices, Tom Lee, Chairman of Bitmine, emphasized that these views overlook the purpose of an Ethereum treasury. He explained that Bitmine aims to track ETH's price and outperform over the market cycle, asserting that unrealized losses during downturns are "a feature, not a bug," similar to how index ETFs behave in declines. link
๐ฐ According to FT, Tether has scaled back its planned $15โ20 billion fundraising after investor pushback over a $500 billion valuation. Advisers are now discussing a raise as small as $5 billion. CEO Paolo Ardoino stated that the larger figure was only a maximum the company was willing to sell and that Tether would be comfortable not raising capital at all. The firm made about $10 billion in profit last year, mainly from USDT reserve returns. link
๐ฎ Crypto.com is launching a dedicated platform, OG, for prediction markets just days before the Super Bowl. link
๐บ๐ธ๐ On Feb. 3, U.S. Bitcoin spot ETFs experienced $272 million in net outflows, primarily due to Fidelityโs FBTC, which had $149 million in outflows. In contrast, Ethereum spot ETFs recorded $14.06 million in net inflows, while Solana spot ETFs saw $1.24 million in inflows and XRP spot ETFs attracted $19.46 million in inflows. link
๐ฐ Binanceโs SAFU fund purchased an additional 1,315 BTC worth $100.42 million. This brings its total acquisition over the past two days to 2,630 BTC valued at $201.12 million. link
๐จ๐ฆ๐ฝ The Canadian securities regulator is introducing rules for storing cryptocurrencies. link
๐ต๏ธ Bitwise Acquires Institutional Staking Service Provider Chorus One - The Block link
๐ WisdomTree CEO Jonathan Steinberg stated that the firmโs crypto business has transitioned from an experiment to a core strategic focus and is nearing profitability. The asset manager has significantly scaled its digital-asset offerings, increasing from approximately $30 million to around $750 million in tokenized assets while also expanding into new blockchains like Solana. #rwa link