Market Update - Friday, January 30

- Bitcoin continues to decline, now at $81,000, with over $1.75 billion liquidated in the past 24 hours.
- Former President Trump will announce the new Fed Chair, with Kevin Warsh's odds rising to 94%.
- The U.S. will release December PPI inflation data at 8:30 PM tonight:
- Year-over-year PPI inflation (Forecast = 2.9%, Previous = 3%)
- Year-over-year Core PPI inflation (Forecast = 3%, Previous = 3%)

ETF Spot Update as of January 29:
- Bitcoin is down $500 million, with Fidelity selling $168 million; BlackRock has no data available.
- Ethereum is down $100.8 million; BlackRock has no data available.
- Solana is down $2.2 million.

- Trump signed a tax order targeting any country selling oil to Cuba, aimed at Russia, Mexico, Venezuela, and others.
- The U.S. Senate Agriculture Committee narrowly approved a bill to structure the crypto market with a 12-11 vote.
- The new CFTC Chair has withdrawn the proposal to ban prediction markets under Biden and will develop new regulations for this sector.
- The U.S. Department of Justice seized over $400 million from Helix, a mixer service that laundered approximately 354,000 BTC from drug sales between 2014 and 2017.
- Kazakhstan plans to allocate seized crypto into its national reserve fund, having invested $350 million in foreign currency and gold into this fund.
- An Ethereum OG has reactivated 70,500 ETH (valued at $200 million) that was dormant since the 2016 DAO hack, generating approximately $8 million per year in staking rewards.
- Andre Cronje's Flying Tulip has raised an additional $75.5 million at a $1 billion valuation, bringing total funding to $225.5 million.