Want to know what’s happening in crypto today? Here’s the latest news on trends and events that are impacting Bitcoin prices, blockchain, DeFi, NFTs, Web3, and crypto regulations.
Today, analysts say that filings for leveraged memecoin ETFs show that issuers are testing the waters with regulators from the Trump era. MicroStrategy is also raising funds to buy more Bitcoin. Plus, the launch of DeepSeek is shaking up tech stocks and the price of Bitcoin.
Tuttle Capital has filed for ten leveraged crypto ETFs. These include some focused on memecoins. Analysts believe this indicates that issuers are pushing the limits of what regulators might allow.
The proposed ETFs by Tuttle feature funds that are two times leveraged long on popular memecoins. These include Official Trump (TRUMP), Melania Meme (MELANIA)—which was launched by Donald Trump and his wife, Melania—and Bonk (BONK).
James Seyffart, an analyst at Bloomberg, mentioned, “This is a case of issuers testing the limits of what the SEC is going to allow.” Tuttle’s filings come after Osprey Funds and REX Shares attempted to launch ETFs for several memecoins, including TRUMP, BONK, and Dogecoin (DOGE).
Seyffart expects the SEC’s new crypto task force, led by Commissioner Hester Peirce, to play a crucial role in deciding what’s permissible. Eric Balchunas, a senior ETF analyst at Bloomberg, noted that Tuttle’s filings are “unusual,” but if the SEC doesn’t reject them, they could be trading by April.
MicroStrategy is proposing a stock offering to raise cash. This money will be used for “general corporate purposes,” including buying more Bitcoin (BTC). This shows their commitment to accumulating the digital asset.
In a January 27 announcement, MicroStrategy stated it plans to offer 2.5 million units of its perpetual strike preferred stock. This type of stock has a liquidation preference and pays dividends at a fixed rate. Investors can also convert it into common stock.
MicroStrategy’s offering will have a liquidation preference of $100 per share, with dividends paid quarterly starting March 31.
The company identified itself as the “world’s first and largest Bitcoin Treasury Company,” indicating a shift from its business intelligence software to focus on Bitcoin holdings.
In its fiscal third quarter, MicroStrategy reported a 10.3% decline in revenue year-over-year, totaling $116.1 million. Its gross profit margin dropped to 70.4%, down from 79.4% in the same quarter of 2023.
Bitcoin has fallen below $100,000 for the first time since Trump took office. The world’s largest cryptocurrency dropped to as low as $98,046 on January 27. This decline is linked to rising competition in the AI sector and changing monetary policies.
Much of the volatility comes from the rapid rise of the China-based AI app DeepSeek. It recently took the top spot in Apple’s App Store rankings in the US, pushing ChatGPT down to third place just a week after its launch.
Alvin Kan, the COO at Bitget Wallet, said, “The hype around DeepSeek and the broader volatility in the US AI market has spooked investors, leading to a flight to safety.”
He added, “With the next Federal Reserve meeting approaching and expectations of no rate cuts, the market is pricing in a more hawkish tone, adding to the cautious mood.”
In the crypto market, around $864 million in positions were liquidated, with long positions in Bitcoin (BTC) accounting for $250 million of that total, according to CoinGlass data.