The Daily: Crypto markets go risk-off amid DeepSeek disruption, Ripple grows its US domestic footprint and more
2025-01-28
Category: None

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
I hope you had a good weekend, folks. With both traditional and crypto markets in turmoil following the release of the Chinese free and open-source AI app DeepSeek, let's take a moment to catch up on the latest.
In today's newsletter, crypto markets go risk-off while Standard Chartered says, "buy the dip," Erik Voorhees' AI platform Venice launches its token on Base, Ripple grows its U.S. footprint and more.
Meanwhile, the Pudgy Penguins-linked Ethereum Layer 2 Abstract Chain is live on mainnet.
Let's get started.
Crypto goes risk-off amid DeepSeek release
Cryptocurrencies began the week in risk-off mode, with bitcoin slipping below the $100,000 threshold for the first time since Jan. 16, driven by macroeconomic uncertainty ahead of Thursday's FOMC meeting and Chinese free and open-source app DeepSeek's AI breakthrough disrupting tech markets.
AI platform Venice launches token on Base
Erik Voorhees' privacy-focused AI platform Venice has launched its VVV token on the Ethereum Layer 2 Base, with 50% of the initial 100 million supply airdropped to users and AI community projects.
Ripple grows its US domestic footprint
Ripple has secured Money Transmitter Licenses in New York and Texas, expanding its U.S. footprint amid increasing demand for compliant real-time global payment solutions from banks and crypto firms.
Trump EOs drive $1.9 billion in crypto fund flows
President Trump's pro-crypto executive orders drove $1.9 billion in net inflows into global crypto investment products last week, according to asset manager CoinShares.
MicroStrategy banks $1.1 billion more bitcoin
MicroStrategy has acquired another 10,107 BTC for $1.1 billion, at an average price of $105,596 per bitcoin, raising its holdings to 471,107 BTC, worth over $47 billion.
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