Crypto weekly is co-authored by @serdave

PRICE CHANGE: WTD/YTD

- Crypto Market Cap ($1.7T): -1% / -5%
- BTC ($41,835): +1% / -1%
- ETH ($2,250): -8% / -2%
- SOL ($95): +6% / -7%
- UNI ($5.92): -6% / -19%
- MATIC ($0.78): +1% / -19%
- Tether Mkt Cap ($96B): +1% / +5%
- USDC Mkt Cap ($26B): +2% / +7%
- BTC / ETH Dominance: 49% / 16%

THIS WEEK IN CRYPTO

- Ethereum’s Dencun update, which will make transactions cheaper on Layer-2 through proto-danksharding, will go live on testnet on January 30. The upgrade is technically a hard-fork and requires a software update for node operators. Link. Blog Post. 

- The 9 Bitcoin ETFs that debuted earlier this month have seen $5.2 billion of inflows, offsetting the $4.4 billion in outflows from GBTC, the Grayscale trust which was converted into an ETF. Link. 

- Terraform Labs, the company behind the UST Terra/Luna stablecoin, filed for bankruptcy. Link. 

- Presidential candidate Donald Trump said he would oppose a central bank digital currency. Link. Link. 

- Bankrupt FTX sold nearly $1.8 billion of crypto assets in December, nearly doubling its cash balance to $4.4 billion. Customer claims over $1 million are currently trading at over $0.73. Link.  

- Worldcoin is redesigning it’s eyeball scanning orb to make it appear more friendly. Link. 

- JPMorgan said net flows to its Bitcoin ETF were “disappointing”, citing it as a reason for downgrading Coinbase stock earlier in the week. Link. Link. 

- Lending startup Figure Technologies is seeking approval from US regulators to issue an interest-bearing stablecoin available to both retail and institutional investors in the US. Link. Filing (PDF).  

- Amazon MGM Studios launched development of a movie based on the life of crypto thief Heather “Razzlekhan” Morgan and her husband Ilya Lichtenstein, who in 2022 were charged by the FBI with conspiracy to launder over $4 billion in stolen Bitcoin from the 2016 Bitfinex hack. Link. 

- Smart contract platform Axiom raised $20 million in Series A funding led by Standard Crypto and Paradigm. Link.

- Polymer Labs raised a $23 million Series A led by Blockchain Capital for its Ethereum IBC interoperability hub. Link.