This is a very short and simple update on what we have witnessed this week in the cryptocurrency market. Staying up-to-date with the latest developments in the market is essential for making better decisions. Let's analyse the market. Ready? Dive in! US Market Weekly Update The US market has witnessed a serious fall of 1.

According to the Indian authorities, the accused have been sentenced to judicial custody, while efforts are being put together to apprehend the other individuals working with him.

This week in the crypto world, one lost $474,422 to a phishing attack, while another revealed a ₹600 crore plan to help WazirX hack victims. However, scams and vulnerabilities are still ways to defeat users and platforms, reinforcing the necessity for consciousness and integral protection.

Late last year, it was announced that collapsed crypto exchange FTX would begin the distribution of funds to investors who suffered serious losses through Kraken and BitGo by early January, 2025. A recent post on X by FTX creditor Sunil reveals that Kraken has sent emails to customers to receive FTX-distributed funds.

Three Russian citizens have been charged in federal court in the Northern District of Georgia for running Blender.io and Sinbad.io, crypto tumblers. Allegedly, these platforms that help hide the sources of transactions were used by hackers for crypto-currency laundering of money received from ransomware attacks, virtual currency thefts, and other unlawful activities.

Raoul Pal, CEO of Real Vision, announces a new explosive phase in the altcoin market that he calls "banana singularity," characterized by a widespread increase in prices. This prediction comes as Bitcoin consolidates around $93,000 after having crossed the $100,000 mark in early January.

Non-fungible token (NFT) sales climbed 10.7% over the past week, amassing $155.6 million in sales within a seven-day window. Penguins, Abstract Beings, and Base's Meteoric Rise According to data from cryptoslam.io, while overall NFT sales increased, the number of buyers dropped by a staggering 85.1% compared to the prior week.

Travis Ford, a co-founder of Wolf Capital, pleaded guilty to crypto fraud and receiving money by luring investors with false promises of higher returns.

Amid the ongoing global tensions, the cryptocurrency market has experienced a major setback this week. However, taking the opportunity of the ongoing crypto crash, whales are actively stacking altcoins at a highly discounted price.

The newly appointed AI and Crypto Czar David Sacks will host the inaugural Crypto Ball with several industry leaders in attendance next week. As Donald Trump takes charge as President on January 20, the crypto industry has high hopes from Sacks with expectations of more crypto-friendly policies.

The Consumer Financial Protection Bureau has proposed a rule requiring crypto service providers to refund customers for losses due to hacks.

A founder of the Web3 product studio argues that venture capital (VC) participation in token launch events has filled the gap left by the decline of initial coin offerings as a fundraising method.

Messari layoffs have occurred, with 15% of its full-time staff affected as part of annual restructuring amid wider layoffs in the crypto industry.

FDIC Vice Chairman Travis Hill urges clearer guidelines for banks on managing crypto.

A majority of participants on Pump.fun, a decentralized platform focused on Solana-based memecoins, have not achieved profits exceeding $10,000, recent analytics reveal. Despite the platforms popularity, few traders have managed to capitalize significantly on its offerings.

Cryptocurrency analytics and research firm Messari has laid off approximately 15% of its workforce as part of an organizational restructuring, CEO Eric Turner confirmed to The Block on Friday. We made some changes to our organizational structure earlier this week to streamline the business and double down on the growth weve seen across our core product lines, Turner said in a direct message.

Russian nationals face charges for allegedly using cryptocurrency mixers to launder proceeds from ransomware, wire fraud, and theft, obscuring illicit funds' origins, the DOJ says. Russian Nationals Face DOJ Charges for Laundering Cryptocurrency Theft Proceeds The U.S. Department of Justice (DOJ) announced on Jan.

While Dune data suggests most Pump.fun traders haven't realized over $10,000 in profit yet; an onchain analyst argues it doesn't fully capture what's happening.

Kenyan Treasury is shifting from its earlier ban on cryptocurrencies with proposed legislation to create a regulated market.

Oh, an innovative platform blending AI with Web3 technology has secured $4.5 million in seed funding, according to a Jan. 10 statement shared with CryptoSlate. The oversubscribed round saw contributions from major players like Tangent, Big Brain Holdings, Kosmos Ventures, Tagus Capital, and Bodhi Ventures.

European crypto exchange-traded products (ETPs) have experienced a significant influx of investments in the second half of 2024, showcasing the rising confidence in Bitcoin and other digital assets among the region's retail investors.

Over the past week, the cryptocurrency market has faced a decline, shedding $190 billion since Jan. 4. However, by Friday, as the weekend nears, the market exhibited a modest recovery, posting a 2.2% gain over the preceding 24 hours.

The apparent success of many investors in the crypto market may hide the fact that most traders have losses. On Pump.fun, a meme token launchpad, only 0.4% of traders have a profit of more than $ 10,000, statistics according to recent data.

Several billionaire money managers have modified their portfolios and poured about $1.8 billion into new assets, according to a new report. Billionaires Philippe Laffont, Stanley Druckenmiller, Chase Coleman, Stephen Mandel and Larry Robbins are accumulating AI-centered equities, reports The Motley Fool.

FDIC Vice Chair Travis Hill has criticized past actions by federal agencies that limited banks' involvement in crypto activities.

Cryptocurrency research site Messari has laid off approximately 15% of its full-time staffers, CEO Eric Turner told The Block.

The Consumer Financial Protection Bureau is attempting to protect customers against crypto payment fraud and excessive surveillance.

A recent report by Bitwise and VettaFi reveals that 56% of financial advisors are more likely to invest in crypto this year, with the 2024 US election results pivoting sentiment. The 2024 surge in crypto prices and increased regulatory clarity have sparked greater interest from clients and advisors alike.

Are you looking to shake up your crypto portfolio in 2025? The crypto world is evolving fast, and with Bitcoin and Ethereum dominating headlines, many investors are turning their eyes to altcoins that could offer even bigger returns. The buzz around new and innovative projects has never been louder, and for good reason.

A study by Foresight Ventures and Primitive Ventures has revealed that Asia leads other continents with the largest number of crypto users globally. According to the report, countries such as India, Vietnam, and Indonesia made it to the top ten countries with the largest crypto-savvy population worldwide.

The United States sanctioned Blender in May 2022 after finding North Korean hackers had used it to launder millions of funds.

The U.S. Consumer Financial Protection Bureau (CFPB) is reportedly proposing a refund requirement for digital assets following a slew of crypto hacks.

Kenya is set to legalize cryptocurrencies, as Treasury Secretary John Mbadi announces plans to regulate the industry. The framework aims to balance opportunities in blockchain with challenges like fraud, money laundering, and consumer protection. The post Kenya Prepares to Legalize Cryptocurrencies: Report appeared first on Cryptonews.

An unexpected change in the redemption mechanism of the protocol's yield-generating token caught investors off-guard, throwing the DeFi community into disarray.

The Kenyan government invited public comments on draft crypto policies. According to the country's Ministry of National Treasury and Economic Planning, the draft regulations were developed through a multi-agency task force.

GOP leader and Billionaire businessman Donald Trump will be the first sitting U.S. President to hold meme coins.

Chair Gensler's farewell bid included a warning to the altcoin sector and intermediaries enabling it.

The UK government has revised its financial regulations to exempt crypto staking from the scope of “collective investment schemes” (CIS), which are subject to strict oversight.

Ammon Simon, ex-SEC lawyer and crypto advocate, joins Senate Banking as Chief Counsel, signaling a balanced digital asset approach. The post Pro-crypto advocate Ammon Simon appointed chief counsel to Senate Banking Committee appeared first on Crypto Briefing.

Ian McGinley, the enforcement director at the Commodity Futures Trading Commission, is stepping down days before President-elect Donald Trump's inauguration.

The US Consumer Financial Protection Bureau (CFPB) has proposed a rule to make wallet providers responsible for hacks resulting in crypto asset loss. In a notice published on January 10, the regulator suggested that the US Electronic Fund Transfer Act could also apply to digital currencies.

The Consumer Financial Protection Bureau (CFPB) proposed a new interpretive rule on Jan. 10 that could extend the Electronic Fund Transfer Act (EFTA) protections to crypto wallets, potentially holding them accountable in case of hacks.

In an interview with popular crypto-focused YouTube channel Altcoin Daily, veteran financier and SkyBridge Capital founder Anthony Scaramucci revealed his top altcoins to buy and hold in 2025. Scaramucci, a former White House Communications Director and longtime Wall Street professional, provided his insights on various crypto assets—starting with his bullish stance on Ethereum (ETH) and expanding to a range of altcoins he believes will play a central role in shaping the future of decentralized technology.

The U.S. CFPB is looking for public input on proposed rules aimed at protecting consumers against fraud while using crypto.

Senator Cynthia Lummis is set to head the Senate's first crypto subcommittee, advancing digital asset legislation under the GOP-led Congress.

The U.S. Department of Justice has indicted three Russian nationals for operating sanctioned crypto mixers allegedly tapped by North Korean criminals.

The Consumer Financial Protection Bureau proposed a crypto rule just days before Donald Trump takes the White House and can name a new agency head.