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A crypto market structure bill is unlikely to pass without the direct intervention of President Donald Trump, according to a report from research and brokerage firm TD Cowen. The Block reported that Jaret Seiberg, a managing director at TD Cowen, noted that industry divisions and political obstacles are complicating efforts to reach a consensus. Seiberg argued that the debate has moved beyond whether crypto platforms can pay interest or rewards on stablecoins, a development he considers inevitable. Instead, the key questions are now when these platforms will receive such authority and what level of regulatory oversight they will accept. From the banking industry's perspective, Seiberg believes stablecoins are unlikely to pose a meaningful threat to deposit rates until they are used for everyday transactions. Until then, he assesses that they present a greater competitive risk to money market funds.

Whale Alert reported that 3,483 BTC has been transferred from Coinbase Institutional to an unknown new wallet. The transaction is valued at about $274 million.

An address presumed to belong to Ethereum founder Vitalik Buterin sold 211.84 ETH ($500,000) and transferred 500,000 USDC to Kanro, a charity he founded, Lookonchain reported.

CryptoQuant CEO Ju Ki-young explained on X that BTC on-chain indicators remain useful. He noted that while they might miss short-term price fluctuations of around 30%, they accurately predict long-term movements of about 600%. Ju added that these indicators are best suited for long-term trend analysis, while short-term price changes can be more accurately forecast through technical analysis using market data.

The U.S. Department of Labor announced it is delaying the release of its January employment data due to the partial federal government shutdown.

Whale Alert reported that 5,000 BTC has been transferred from an unknown wallet to Binance. The transaction is valued at about $395 million.

Bed Bath & Beyond is acquiring blockchain financial infrastructure firm Tokens.com to enter the real-world asset (RWA) tokenization business, Cointelegraph reported. The financial terms of the deal were not disclosed. Tokens.com is set to become a subsidiary of Bed Bath & Beyond and will serve as the operational infrastructure for the company's broader blockchain initiatives. Bed Bath & Beyond previously filed for bankruptcy protection in 2023 and wound down its U.S. retail operations. Its brand name and intellectual property were later acquired by Overstock in a bankruptcy auction.

Rosa María González, a key suspect in a four-year-old Argentine cryptocurrency scam, has been arrested in Venezuela, DL News reported. González was on the run with Bitcoin worth $56 million. The case, known as the Generación Zoe incident, promised investors returns of up to 7.5%, resulting in tens of thousands of victims. The total damages are estimated to be at least $120 million.

New York prosecutors have warned that a stablecoin regulation bill known as GENIUS is inadequate for combating fraud, CNN reported. Attorney General Letitia James and a district attorney argued that the bill could provide legal immunity to stablecoin issuers, potentially increasing their ability to participate in or aid fraudulent activities. They pointed out that Tether has only selectively frozen suspicious transactions involving USDT, making it difficult for victims to recover their funds. They also noted that while Circle positions itself as an ally in fighting fraud, its victim protection policies are less comprehensive than Tether's. In response, Circle stated that the GENIUS bill clarifies standards for anti-money laundering and consumer protection. Tether also rebutted the claims, asserting that it maintains a zero-tolerance policy for illegal activities.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

According to CoinNess market monitoring, BTC has risen above $79,000. BTC is trading at $79,000 on the Binance USDT market.

Tom Lee, chairman of Fundstrat and Bitmine (BMNR), said on CNBC's Squawk Box that the cryptocurrency market is nearing a bottom. He attributed the recent correction to a shift in funds driven by the strength of gold and silver, as well as uncertainty surrounding U.S. policy. Lee stressed that prices could recover as the fundamentals of the crypto market improve.

Santiment noted on X that while fear, uncertainty, and doubt (FUD) have spread across the cryptocurrency market, this often precedes a short-term rebound. The analytics firm explained that with BTC down approximately 16% since Jan. 28, FUD is proliferating on social media. According to social data, retail investor sentiment is at its most bearish level since the sharp decline on Nov. 21 of last year. Santiment added that such peaks in negative public opinion are typically followed by short-term relief rallies.

Decentralized derivatives exchange Hyperliquid is launching "Outcome Trading" on its testnet, a feature designed for prediction markets and limited-risk options trading, The Block reported. The new function is an extension of the ongoing HIP-4 update. Outcome Trading provides fully collateralized binary contracts without leverage, margin calls, or liquidations, allowing it to be used for prediction markets or as a form of digital option.

A new wallet has withdrawn 671.48 BTC, worth approximately $52.15 million, from Binance, OKX, and Bybit, according to OnchainLenz. The whale now holds a total of 704.76 BTC, valued at around $55.32 million.

Cboe Global Markets is considering relaunching a binary options product for retail investors, The Wall Street Journal reported. The product operates similarly to prediction markets, allowing traders to bet on "yes/no" outcomes where they either receive a fixed payout or the contract expires worthless. This all-or-nothing structure involves contracts typically priced between $0.01 and $0.99. The move is seen as an effort to tap into the rapidly growing prediction market sector. Cboe first listed binary options tied to major financial indices in 2008 but later discontinued them due to low popularity. JJ Kinahan, Head of Retail Expansion at Cboe, said the company will follow a very strict process for legal and compliance requirements before any potential launch, adding that the contracts would be regulated by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Crimes targeting virtual asset holders are increasingly escalating to physical violence, Coindesk reported, citing a study by CertiK. According to the report, there were 72 so-called "wrench attacks" worldwide last year, a 75% increase from the previous year. These attacks, in which criminals use violence to steal private keys, were particularly prevalent in Europe. France recorded 19 such incidents, double the number seen in the U.S., with total financial losses from these crimes surpassing $40 million.

The three major U.S. stock indices opened lower today. - S&P 500: -0.32% - Nasdaq: -0.39% - Dow Jones: -0.1%

Coinbase has announced the listing of ZAMA perpetual futures. Trading is scheduled to begin at 2:45 p.m. UTC on Feb. 2, provided liquidity conditions are met.

Bitmain (BMNR) announced it purchased an additional 41,788 ETH last week. As of Feb. 1, the company holds a total of 4,285,125 ETH, which accounts for 3.55% of the total ETH supply. In addition, Bitmain holds 193 BTC and $586 million in cash.

Bybit announced that it will list TRIA for spot trading at 10:00 a.m. UTC on Feb. 3.

Wall Street asset manager Bernstein has projected that the crypto market will turn toward recovery this year. According to The Block, the firm stated that BTC is likely to bottom out near the previous cycle's high of around $60,000 in the first half of this year before recovering. Bernstein attributed this outlook to several factors: its relative weakness compared to gold, the continuation of an institution-led cycle, a favorable U.S. policy stance on crypto, limited ETF outflows, and the diversification of miner revenue streams. The asset manager concluded that the current price movement is not the beginning of a full-blown bear market but rather a late-cycle correction.

MicroStrategy announced it purchased an additional 855 BTC for approximately $75.3 million between Jan. 26 and Feb. 1, at an average price of $87,974 per coin. As of Feb. 1, the company holds 713,502 BTC at an average price of $76,052 per coin.