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Stablecoin Transactions Rose to Record $33 Trillion, Led by USDC
Stablecoin transactions reached unprecedented heights last year, buoyed by favorable policy in the US under pro-crypto President Donald Trump.
Total stablecoin transaction volumes soared 72% to $33 trillion in 2025, according to data compiled by Artemis Analytics Inc. Leading the way was USDC, a digital dollar developed by Circle Internet Group Inc., which accounted for $18.3 trillion worth of transactions, while Tether Holdings SA’s USDT recorded $13.3 trillion.
Stablecoins are a kind of cryptocurrency engineered to mimic the price of a mainstream asset, most often the US dollar. Trump’s administration has embraced them, pushing through dedicated legislation under the Genius Act in July. That in turn led to a broader adoption of the technology among institutions, with heavyweights including Standard Chartered, Walmart and Amazon exploring launches. World Liberty Financial Inc., one of the Trump family’s crypto ventures, launched a stablecoin called USD1 in March.
Bank of America Analysts Upgrade Coinbase to “Buy“
Bank of America analysts upgraded Coinbase to “Buy” from “Neutral” on Thursday, describing the exchange as a leader in tokenization that stands to benefit from its own blockchain network.
Without changing their price target of $340 per share, the bank’s analysts wrote in a note that the exchange’s outlook improved following its debut of several products last month. Stock trading and predication markets are among those that could broaden revenue, they wrote.
Still, as asset managers grow increasingly interested in issuing digital representations of securities like exchange-traded funds, the analysts argued that Coinbase is in a unique position compared to its competitors, highlighting a non-consumer-facing product.
Ethereum Treasury Firm SharpLink Stakes $170 Million of ETH on Linea
Publicly traded Ethereum treasury firm SharpLink Gaming has deployed $170 million worth of ETH to Ethereum layer-2 scaling network, Linea, the firm announced on Thursday.
The Minneapolis, MN-based firm previously said that it would stake up to $200 million worth of Ethereum as part of a multi-year effort on the network as a way to optimize on-chain yields for its Ethereum holdings.
“This deal allowed SharpLink to generate additional yield, in excess of its current staking rewards, while pushing the industry to embrace institutional-grade DeFi,” SharpLink CIO Matt Sheffield told Decrypt.
Bitcoin, Ethereum Sell-Off May Be Bottoming Out: JPMorgan
JPMorgan (JPM) said there are growing signs that the recent selloff in crypto markets may be nearing a bottom, with flow and positioning indicators pointing to stabilization after heavy de-risking late last year.
"Signs of a bottoming out in January are also seen in other crypto indicators in perpetual futures and in our position proxies on CME futures," analysts led by Nikolaos Panigirtzoglou wrote.
Bitcoin and ether exchange-traded funds (ETFs) saw notable outflows in December, even as global equity ETFs attracted a record $235 billion of inflows, the bank said in a Wednesday report. That divergence underscored how sharply investors reduced crypto exposure into year-end.
President Trump Says He Won't Pardon FTX Founder Sam Bankman-Fried
US President Donald Trump ruled out a pardon for FTX co-founder Sam Bankman-Fried on Thursday, seemingly drawing a line between his crypto-friendly agenda and the industry’s most infamous fraud case.
Trump was responding to questioning from a New York Times reporter who also asked about pardon requests for several high-profile figures, including Sean “Diddy” Combs.
A jury convicted Bankman-Fried in November 2023 on multiple fraud and conspiracy counts tied to the misappropriation of billions in FTX customer funds. He was sentenced in March 2024 to 25 years in prison and has since appealed both his conviction and sentence.
Bitcoin & Ethereum Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Thursday was $398.95 million. The total net asset value of Bitcoin spot ETFs is $117.66 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.48%.
The Bitcoin spot ETF with the highest net inflow on January 8 was Bitwise Bitcoin ETF (BITB), with a net inflow of $2.96 million, according to SoSoValue.
Source: SoSoValue
The overall net outflow of the US Ethereum spot ETF on Thursday was $159.17 million. The total net asset value of Ethereum spot ETFs is $18.93 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 5.05%.
The Ethereum spot ETF with the highest net outflow on January 8 was iShares Ethereum Trust ETF (ETHA), with a net outflow of $107.65 million, according to SoSoValue.
Source: SoSoValue
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