Crypto.com Slashes Workforce By 12% in AI Push

Concerns have been raised by India's income tax authorities regarding the challenges in tracking and taxing crypto transactions, as the government faces enforcement gaps due to the nature of virtual digital assets. The Finance Ministry aims to address issues related to decentralization, privacy-focused systems, and offshore exchanges.

Matthew Hougan, Chief Investment Officer of Bitwise, believes a stable crypto market, steady equity market, and the passage of the Clarity Act are necessary for Bitcoin to reach levels seen in October last year. The market needs to avoid major blow-ups like the "October 10-style" liquidation event to establish a renewed rally.

World Liberty Financial, linked to President Donald Trump's family, has applied to form a national trust bank for its USD1 stablecoin, aiming for federal supervision. This move follows Anchorage Digital as the only crypto firm with a national trust bank charter.

Solana Mobile will airdrop 2 billion unlocked SKR tokens to Seeker smartphone users and developers on January 20. The airdrop excludes users of the earlier Solana Saga phone, with 30% of the total 10 billion SKR tokens allocated for incentives.

Wyoming's Frontier Stable Token, the first state-issued stablecoin in the U.S., is now available to the public, with potential plans for offering yield still under consideration. The token's reserves will be managed by Franklin Templeton, and revenue will be diverted to the state's School Foundation Fund quarterly.

Chen Zhi, the alleged mastermind behind a scam ring that stole billions, was arrested in Cambodia and extradited to China. Zhi's conglomerate forced individuals to run crypto fraud schemes, accumulating over 127,271 Bitcoin valued at $11.6 billion.

The debate over stablecoin rewards intensifies as the Senate Banking Committee nears a crucial vote on a crypto market structure bill. High-profile figures like Coinbase's Faryar Shirzad argue against restrictions, while the American Bankers Association expresses concerns about the impact on local communities.

JPMorgan's Kinexys blockchain unit is collaborating with Digital Asset to launch JPM Coin on Canton Network, a privacy-enabled network for financial markets. The partnership aims to enhance efficiency and liquidity by enabling institutions to issue, transfer, and redeem JPM Coin near-instantly on Canton.

BitMEX co-founder Arthur Hayes predicts that Trump's Venezuela policies could drive Bitcoin's price surge due to potential seizure of oil reserves. Hayes believes US monetary policies will boost Bitcoin's value as the Federal Reserve continues printing money.

Kontigo, a neobank in Latin America, reimbursed over 1,000 users for $340,905.28 in USDC stolen by hackers. The company detected unauthorized access affecting user funds and has processed refunds for affected accounts.