The crypto world is buzzing with updates. From Trump’s executive orders to the pardoning of Ross Ulbricht, there’s a lot to unpack. The market is shifting, and we’re here to break down the latest developments.
1) Trump Pardons Silk Road Founder Ross Ulbricht
In an unexpected move, U.S. President Donald Trump granted a full pardon to Ross Ulbricht, the founder of the Silk Road. Ulbricht, who was sentenced to life in prison for running an underground marketplace that used Bitcoin for illicit trades, was arrested in 2013 and sentenced in 2015.
Trump made good on a campaign promise to free Ulbricht, and this decision has had significant implications. Ulbricht’s release could be seen as a major step toward reform in the criminal justice system, especially in cases involving cryptocurrency. Trump’s announcement marked a shift from the previous administration’s stance on crypto, and many are wondering what this means for future policies.
Trump expressed that Ulbricht’s pardon was “full and unconditional,” and he personally broke the news to Ulbricht’s mother. Ulbricht’s clemency attorney, Brandon Sample, emphasized that this decision gives Ross a chance to rebuild his life after more than a decade behind bars.
I remember when Trump first announced the potential pardon of Ross if he got elected. I remember thinking to myself, “This is bullshit”. But in the end, he followed through!
Follow Ross on X to learn more about this,
2) Vitalik Buterin Hints at Ethereum Foundation Staking $1B ETH Holdings
Vitalik Buterin, the co-founder of Ethereum, has hinted that the Ethereum Foundation might start staking its $1 billion ETH holdings. This has been a topic of discussion for a while, as many believe the Foundation could do more to contribute to the growth of the Ethereum ecosystem.
The Foundation has faced criticism for its minimal participation in the ecosystem, but Buterin is working to address these concerns. One of the key challenges to staking ETH has been regulatory risk, but now that pressure has eased, staking seems more feasible. By staking its holdings, the Foundation could generate rewards that could fund its operational costs and support more grants for Ethereum projects.
While there are still some concerns around decision-making and choosing the right chains during hard forks, Ethereum’s growing commitment to the ecosystem could lead to a more involved role in the community. The Ethereum Foundation is positioning itself to contribute meaningfully to Ethereum’s development.
3) 5 Airdrop Claims Are Live!
Several exciting airdrop claims have gone live recently, so if you want to earn some tokens, now’s the time to check eligibility. We linked to the official tweet announcement of the projects for your convenience. Make sure not to click any sus links in the comment section.
Here are the latest airdrop claims:
These airdrops are a great opportunity to earn tokens, so make sure you check them out before the deadlines!
4) Did Blockchain Detective ZachXBT Rug His Community?
ZachXBT, a popular blockchain investigator, has come under fire for his involvement in a meme coin. ZachXBT, who had voiced frustrations about his finances, was rewarded (or airdropped) with half of the ZACHXBT token supply. He then withdrew a significant amount of funds by providing single-sided liquidity, totaling $3.8 million, from the project.
Critics have accused ZachXBT of carrying out a rug pull, while his supporters argue that he was simply profiting from the coin. This controversy has sparked a debate within the crypto community about ethics and transparency. The issue raises important questions about trust and accountability in the crypto space.
My personal take, Zachxbt provides a free and important service to the whole community. He didn’t create this coin, it was created by someone else hoping to profit from his reputation. As a marketing gimmick, the creator decided to donate coins to Zach, hoping this would cause some hype. In the end, Zach sold the coins he received and the project was over. I don’t blame Zach for this at all. If someone creates a coin on our band name, and airdrops me 4 million dollars worth of coins, you bet your ass I’d be dumping that!
5) Otherside Demo Day and Potential Airdrop Coming
There’s a lot of buzz around Otherside, the metaverse project backed by Yuga Labs. The Demo Day for Otherside is coming soon on January 31st, and there are rumors of an upcoming airdrop.
Garga, the founder of Yuga Labs, has teased in Discord that Otherside holders will be rewarded this year. There’s speculation that KodaCoin could be part of the airdrop, though no official details have been confirmed. Keep an eye out for more announcements as we get closer to the Demo Day!
6) Dogecoin Logo Appears on Elon Musk-Led Government Website
In a strange twist, the Dogecoin logo appeared on the official website of the newly established Department of Government Efficiency (D.O.G.E.). The website’s appearance caused a 14% spike in the price of Dogecoin.
This move has led to significant speculation about the future of Dogecoin and its role in the U.S. government. The website, which was registered by an employee of the U.S. Cybersecurity and Infrastructure Security Agency, seems to be a nod to Elon Musk’s long-standing support for Dogecoin. However, it has also raised concerns about regulatory compliance and potential legal challenges.
7) Trump Signs Executive Orders on AI and Crypto
In addition to pardoning Ross Ulbricht, President Donald Trump signed two major executive orders this week. The first order focuses on removing barriers to U.S. leadership in artificial intelligence. The second is aimed at boosting the U.S. role in the crypto industry.
Trump’s crypto order establishes a Working Group on Digital Asset Markets, which will focus on creating a new regulatory framework for digital assets. The executive order also prohibits the U.S. government from creating its own Central Bank Digital Currency (CBDC), signaling a pro-crypto stance from the new administration.
Trump’s shift towards embracing crypto, coupled with his pro-business policies, could mark a turning point for the industry. His appointment of David Sacks as Crypto Czar signals that his administration is serious about fostering growth in the crypto sector.
The first few days with Trump back as president, have been action-packed!
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Final Thoughts
This week’s crypto news has been packed with major developments. From Trump’s pardon of Ross Ulbricht to his executive orders on AI and crypto, the landscape is shifting fast. Airdrops, a controversial rug pull by ZachXBT, and a spike in Dogecoin prices add even more excitement to the mix.
As we move forward, it’s clear that crypto is becoming an increasingly important part of the global economy. With Trump’s pro-crypto stance, the future looks bright for digital assets. Stay tuned for more updates as the crypto world continues to evolve!
If you enjoyed this blog, you may want to check our other crypto news updates.
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