Hello SnapShotters,
The new U.S. administration has started its first month on a crypto-positive spree, from crypto industry hearings to new leadership in the Securities and Exchange Commission (SEC). At this week’s FII PRIORITY Summit in Miami, President Trump reinforced this direction, saying he is “committed to making America the crypto capital.”
Part of this plan is a U.S. Strategic Bitcoin Reserve. If you want to keep up to date on how this is going, state by state, check out the Bitcoin Reserve Monitor.
Staying with the topic of the wider impact crypto is having on the economy, a recent study found that the Bitcoin mining industry created over 31,000 jobs in the U.S. alone.
Read on for more crypto news from around the globe.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
Want more? Get weekly Market and DeFi Updates from Crypto.com’s Research Team.
News Snaps
🏦 BNY Mellon Discloses Crypto ETF Holdings
The Bank of New York Mellon (BNY Mellon) reportedly disclosed that it holds approximately$15 million in shares of BlackRock’s iShares Bitcoin Trust (IBIT) and WisdomTree Bitcoin Fund (BTCW). This move aligns with a growing wave of traditional finance institutions seeking exposure to BTC via exchange-traded funds (ETFs).
📑 Two New XRP ETF Filings
The U.S. SEC acknowledged two more XRP ETF filings from Bitwise and 21Shares, with the decisions made just hours apart. They join Grayscale in the review process, with filings from WisdomTree and Canary reportedly still pending acknowledgment.
💲 Metaplanet Adds More Bitcoin
Tokyo-based Metaplanet acquired 269.43 more bitcoins for $26.4 million, bringing the company’s total holdings to 2,031.41 bitcoins. The MicroStrategy-inspired tactic has also been adopted by other non-crypto companies, with some seeing increased valuations as BTC’s value has climbed.
🤖 ASI Hub Aims to Boost AI Agents Security
SingularityNET, which previously merged with Fetch.ai and Ocean Protocol to form the Artificial Superintelligence Alliance (ASI), teamed up with Mind Network to launch the ASI Hub, a solution that seeks to strengthen AI agent security by tackling key challenges like provable on-chain randomness.
📚 Polkadot Launches Courses for Policymakers
The Polkadot Blockchain Academy is conducting a three-day course for policymakers in Zug, Switzerland, to equip attendees with knowledge about blockchain and Web3. The need to educate lawmakers comes amid the implementation of the Markets in Crypto-Assets (MiCA) regulations in Europe.
What’s Ahead
🪙 Hong Kong Stablecoin Underway
A joint venture consisting of Standard Chartered, Animoca Brands, and Hong Kong Telecommunications (HKT) plans to launch a Hong Kong dollar-backed stablecoin on the island.
The roadmap for the endeavor involves exploring real-world applications, such as cross-border payments.
Number of the Week
Chart of the Week
Bitcoin’s realized price reached an all-time high of $43,321 on February 16, according to CryptoQuant. Realized price is the average acquisition price of the token weighted by the supply, which some investors interpret as a support price or its fair value in the long term.
BTC’s realized price increased by 86% in the past year, while Bitcoin’s market price increased by 84% in the same period.
Research & Insights
Monthly Feature Article | The Evolution of the Institutional Crypto Market
This report presents an overview of the growing institutional crypto market, focusing on liquidity and global adoption.
Read the full report.
Crypto Trivia
What does AUM stand for in financial markets?
A) Assets Under Management
B) Automated Utility Mechanism
C) Advanced Unspent Mining
Scroll for the answer at the end of this newsletter. 👇
NFT Spotlight
Driven by the enchanting spirit of its cherished mascot, Flaky the rabbit, and infused with the dynamic artistry of anime, Project Ishin transcends boundaries to pioneer a new era in storytelling.
In IshinVerse, “legends are forged, and aspirations thrive amidst the ever-shifting tides of innovation.” Join the creators as they redefine “the narrative landscape, where every endeavor heralds a new chapter in the saga of boundless creativity.”
Each of the 1,950 Ishin Revengers collection packs contains one Ishin Revenger NFT, that “arrived to their world from a distant feudal universe,” and fulfill half of the requirement to be eligible for future airdrops.
These packs are minted with varying levels of rarity, generated at random, available for US$50 each, and contain 1 piece from the collection — which can be virtually unwrapped and kept or traded on the Crypto.com/NFT marketplace.
“Legends born, where hope dies.”🐰⛩️🔥Find your legend here.
Product Updates
USC Stablecoin (USC) Is on Earn Plus and Flash Rewards!
Enjoy up to 8% p.a. on USC with higher allocation limits up to $2,000,000. You can deposit a maximum allocation limit of $500,000 for fixed-term allocations and up to $2,000,000 for fixed- and flexible-term allocations combined. Learn more about Earn Plus here. Plus, from now until March 3, you can get 20% p.a. on your USC deposits in a 14-day fixed term with the USC Flash Rewards campaign. Learn more here.
Crypto.com Web Is Live in the EU
EU users can now access their Crypto.com App account on their desktop. Easily view live price charts and grow your portfolio with over 350 crypto assets from your favourite web browser. Plus, you’ll enjoy instant logins by scanning a QR code with your App, 24/7 trading with no downloads required, and seamless EUR and crypto deposits. Check It Out.
Trade the Outcome of Two Major Championships in the App or on the Web
Two major championships have been added to Crypto.com Sports! U.S. users can now profit by correctly predicting the outcome of the UEFA European and English Soccer Championships in the Crypto.com App or on the Crypto.com web. Simply select a potential outcome of a sports event to trade, with the option to change your prediction anytime before the event begins. Try It Now.
New Token Listings
USC Stablecoin (USC)
USC is the native stablecoin on the Orby Network, a crypto lending protocol on the Cronos blockchain designed to facilitate DeFi lending and enable interest-free borrowing of USC.
Heima (HEI)
Previously known as Litentry (LIT), Heima is a Layer-1 blockchain that aims to enable cross-chain interoperability. It leverages cryptographic techniques, such as trusted execution environments (TEEs) and its identity management module, to ensure seamless and verifiable transactions across multiple blockchains.
This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.
Crypto Learn
What Is Dual Invest?
Offered by several crypto exchanges, Dual Invest is a product that allows token holders to commit their crypto to a specific target price and settlement date, earning returns regardless of market direction. Dual Invest is unique, as it allows users to receive rewards in a different token than what was committed.
Potential Benefits
- Attractive Returns: Offers reward rates that can reach as much as triple digits
- Portfolio Diversification: Allows users to gain exposure to multiple digital assets
- Flexible Options: Offers customizable target prices and term lengths
Potential Risks
- Market Volatility: Price fluctuations may affect asset value and conversions
- Opportunity Cost: There may be missed gains if you receive rewards in an alternate token while the value of your committed token increases
- Strategic Risk: Incorrect target prices and market timing may result in suboptimal outcomes
Discover Crypto.com’s Dual Invest product here. Availability depends on jurisdiction.
CryptoIRL
Pumping up the volume with the Lion and @DamoCoin’s Crypto.com Jade Green Card.
Hashtag #CryptoIRL with your Crypto.com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
Deepfake Crypto Frauds on the Rise
Scammers used deepfake videos of Tanzanian billionaire Mohammed Dewji to promote a fake cryptocurrency, defrauding investors of $1.48 million. The videos showed a digitally recreated Dewji endorsing the $Tanzania token, misleading viewers into believing the token was legitimate.
A 2024 study revealed that 57% of crypto companies have encountered audio deepfake fraud, while 53% have reported video deepfake incidents, highlighting deepfakes as a major concern. While there have been discussions on how blockchain technology can be used more effectively in deepfake prevention, users should stay alert to protect their assets.
Here are some red flags to look out for:
- Unnatural facial expressions or lip movements that don’t sync with the audio
- Shadows appearing in unexpected places
- Promises of unrealistic returns in a short time
Crypto Trivia Answer
A) In financial markets, AUM stands for assets under management.
That’s it for this week’s SnapShot. Want more? Find out what’s trending in the crypto world.
