Crypto News: BTC Drops, Trump Shifts, ETH Dying, DeepSeek & More!

"this Chinese built LLM AI chatbot uh came out a week ago I think it came out on Monday obviously the day that Trump was being inaugurated so eyes and attention were very much focused elsewhere um and suddenly everyone has realized that not only is this does this apparently outdo things like chat GPT and and other LLM models um but is also like ridiculously cheaper I think what was it6 Million they built it $6 million now bear in mind guys that some of the executives at these Western AI firms and companies their annual take-home pay is probably more than three to four times $ million"

"it shows that the chip sanctions that were put on China have not hindered this development of AI yeah um and also because it's optimizations in the software component of it and it's they've used these slightly older chips and that's why big stocks like Nvidia are massively down in the pre-market the NASDAQ is down in the pre-market so basically um there's a massive fall there you can see nasda nasdaq's down on the Futures pre-market and in videos fall in because they say well if these were done with slightly older chips less optimized and they just optimized with a software component that means that all this hype around needing these Advanced you know Computing chips that videos being creating for AI is that really necessary"

"one is obviously the FED meeting fomc Wednesday keep an eye on that there's the PC PC inflation print which is coming out on Friday but also on the 31st of January we've got a very big options expiry on derit bitcoin options expiry about $7.8 billion in total is expiring"

"Sab 121 yeah this is really big I mean the implications of this obviously this basically was staff accounting bulletin 121 which is of course the controversial SEC rule that forbid you know if you wanted to hold crypto on your balance sheet as a bank you know for clients as a custody you would have to put that on your balance sheet right so you weren't viewed it wasn't viewed as a custody asset and many banks hated this obviously they actually got through the overturning last year in through Congress and Biden vetoed it"

"but it's really big because obviously this means that now tradire institutions can have utilize custodians to hold these Bitcoin assets they don't have to utilize a ETF anymore and if they want to go and you know create Structured Products around Bitcoin they can hold the Bitcoin with these custodians big Banks like and big custodians like bny melon are already you know super keen and lined up so it's big news"

"Trump signed as well um protected banking services um and that is an illusion to uh the winding up or the the halting of operation choke point 2.0 yeah thank God yeah yeah"

"a US court overturned the sanctions on tornado cach yeah that's great although it didn't um I think that the founders are still facing jail time facing the criminal convictions and things like that which is unfortunate uh but I think this made sense right because how can you sanction a smart contract piece of code it's like a free speech right so it just makes sense right"

"the appeals court clarified that immutable smart contracts are Beyond human control cannot be owned it's interesting and do not qualify as agreements or services that challenging oax expanded definition of property"

"thorchain revealed to be insolvent last week and I should say that article that we've got up on screen there from blockworks is a really good explainer of what happened and what went wrong tldr for swap itself the Dex is fine it's still working as normal it is still generating fees that doesn't appear to be a problem but thorchain itself has become insolvent it's it's liabilities The Lending The Lending component of it yes yeah exactly the liabilities the the liabilities exceed the assets and um it's it's basically the fact I think it's because of the fact that over the time it's literally been long Rune right ter of like you me and redeem Rune to basically in and out of the protocol right when it comes to lending the assets and the collateral is swapped and if Rune is decreasing against bit the the assets being loaned out Bitcoin ethereum over time it's going to naturally become slowly insolvent"

"it seems that they've kind of got two options either they kind of let it ride and see what happens and hope it resolves itself which doesn't doesn't sound ideal um or they try to salvage what they can of the protocol and you know kind of I guess sort of tear it down and start again yeah I think it's like just let the bad debt go bad like just you know ins and then just basically Salvage yeah the protocol itself and then maybe give run a chance in the market the cryptocurrency itself and the and the swap feature itself an opportunity to grow"

"they've also just burned three billion jup tokens and uh also lots of EXC announcements for Jupiter last week they bought two protoc well they bought a majority stake in moonshot which you see how moonshot performed last week I know it went to it was number one finance app was it insane yeah exactly I mean and so what a good what a good acquisition there in terms of the majority stake and moonot they also bought something called sonar watch"

"29th of January two days time it is the FOMC meeting damn straight now there's obviously no chance of a cut if you look at the FED funds rate probabilities but what's important is of course what will be said it's the first fed meeting this year it will lay the foundation for what we could see in coming in the coming year in terms of rate Cuts potentially"

"on Friday um on the 31st um some more data um core pce uh the PC is obviously the fed's preferred inflation measure last uh it's the previous slot was 2.4% exactly and the forecast is 2.6 so obviously watch where the number comes in versus that"