FameEX Morning Crypto News Recap | January 10, 2025

2024 Projected Growth of 56,325 Bitcoin Millionaire Wallets

By the end of the year, a total of 56,325 millionaire wallets are projected to be added, according to ChainCatcher. In 2024, an average of 154 new Bitcoin addresses holding over $1 million are created daily, with a 58.21% annual growth rate. 

U.S. Department of Justice Greenlights Sale of $6.5 Billion in Bitcoin from Silk Road Case

On January 9, the U.S. Department of Justice was authorized to sell 69,370 BTC, worth around $6.5 billion, seized from the Silk Road case. The DOJ requested permission to liquidate due to Bitcoin price fluctuations. A spokesperson stated that further actions will depend on the case’s ruling.

Opinion: Bitcoin's Future Hinges on Trump's Crypto Promises

Reuters reported that the cryptocurrency industry is lobbying President Trump to issue an executive order within his first 100 days in office. The order would establish a U.S. Bitcoin reserve, secure banking access for the industry, and create a cryptocurrency advisory committee, according to anonymous sources.

Analysts Forecast Major Crypto Market Recovery in February

On January 9, crypto analyst Miles Deutscher predicted a significant improvement in the market by February. He suggested that President Trump’s potential policies could be beneficial for crypto, while the market has already absorbed the impact of the Department of Justice’s Bitcoin sell-off, paving the way for recovery.

Cryptocurrency Exchanges Experience User Surge Following South Korea's State of Emergency Declaration

After South Korean President Yoon Seok-yeol declared a state of emergency on December 3, 2024, data from the Democratic Party revealed a surge in cryptocurrency exchange users. A Financial Supervisory Service survey showed that simultaneous online users at major exchanges peaked at 500,000 to 1.1 million, 11 times higher than usual.

Taiwan to Submit Draft Special Law on Virtual Assets by June 30

Taiwan’s financial regulatory authority chairman, Peng Jinlong, expressed a cautiously favorable stance on the virtual asset market. The draft special law on virtual assets is complete and will undergo public hearings. It is expected to be submitted to Taiwan’s executive agency by June 30 this year.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.