Nasdaq's official X account was attacked by hackers and used to promote fraudulent meme coins. The hackers associated a fake X account as a subsidiary account of Nasdaq, and used Nasdaq's official account to repost the account's posts, promoting a meme coin named STONKS created that day. The post has been deleted, and the fake X account has been suspended.
The meme coin appears to be a counterfeit of an existing meme coin with the same name on Solana, of which Solana owns the intellectual property rights. According to DEXscreener's data, the market cap of the counterfeit meme coin STONKSD once soared to $80 million but then quickly collapsed. This incident follows a pattern of well-known X account hacks being used to promote fraudulent tokens, similar incidents involving celebrities and institutions have occurred in the past.
The Trader Funds

Despite Trump officially "ascending" today, he did not sign any executive orders related to Cryptos, but the market still holds great expectations for the USA to establish a Bitcoin (BTC) strategic reserve. Analyst at The Trader Funds are optimistic about this, but the pathway to realization may not align with public imagination.
This possibility was first proposed by Trump himself last summer, sparking limitless imagination in the cryptocurrency market. Especially within the first 100 days after Trump officially took office, the market predicted that the likelihood of this initiative being implemented exceeded 50% (according to Polymarket data), but as of the time of writing, that prediction has fallen back to 36%.
So, how will the USA's Bitcoin strategic reserve be realized? The following explores several potential pathways for realization.
Strategic reserves are critical resources stored by a country to respond to emergencies, urgent situations, or special crises such as wars. The most famous example is the USA's Strategic Petroleum Reserve (SPR), which is the largest national oil reserve system in the world, holding approximately 0.7 billion barrels of oil. This reserve system was created by a congressional act in 1975 to address the impact of the 1973-1974 Arab oil embargo on the USA economy.
Historically, the USA has drawn from oil reserves multiple times, such as during wars, when the Gulf Coast oil infrastructure was hit by hurricanes, or during the energy crisis of the Ukraine war.

Trump's return not only reshaped the political landscape of the USA but also injected new vitality into the Cryptos market. Bitcoin has shown a rare upward trend in the past two months, and the personal cryptocurrency "Trump Coin" ($Trump) launched by Trump has become a market focus, driving the entire Crypto Industry into a new development stage.
On January 20, Trump's official return to the White House inauguration ceremony became the focus of global attention. On that day, the Cryptos market also saw two major highlights. First, Bitcoin prices continued to rise, with a daily increase of 2.75%, reaching $107,479 per coin. Bitcoin's increase this month has exceeded 10%, and investors have shown great optimism about its future prospects.
Since Trump won the presidential election last November, Bitcoin prices have repeatedly hit new highs, breaking the $100,000 mark for the first time last month. Market analysts believe that this upward trend is closely related to Trump's policy expectations. He excitedly posted on the social platform Truth Social: "Congratulations to all Bitcoin holders! One hundred thousand dollars! Let's make America great again together!"
In addition, Trump has decided to appoint cryptocurrency supporter Paul Atkins as the head of the US Securities and Exchange Commission. This move is interpreted as a major bullish signal for the cryptocurrency market, as it implies that the US government may further "de-regulate" to create a more relaxed development environment for cryptocurrencies.
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The crypto market recently experienced a major shakeup. US President-elect Trump posted on his social account on January 18th local time, announcing the launch of his personal meme coin TRUMP. Users need to visit the website named 'gettrumpmemes' to obtain the token, and according to the information on that website, TRUMP is the only 'official Trump Meme coin'.
Once launched, TRUMP coin quickly became popular. CoinGecko's price data shows that the token started trading at an opening price of $0.1824, surging over 15000% within just 12 hours to reach around $30, with its fully diluted market cap skyrocketing to $32 billion, surpassing established tokens like TRON, Avalanche, ChainLink, and Shiba Inu. At the time of writing, the price of TRUMP coin has risen to $62.83, with a token FDV reaching $62.89 billion.
Some analysts point out that Trump's direct involvement in the token issuance blurs the lines between government role and business interests, and 80% of TRUMP coins are owned by the Trump Group, essentially 'profiteering from the presidential position.' However, analysts at The Trader Funds believe that the issuance of TRUMP coin marks the opening of the political meme coin market and the token's issuance on decentralized exchanges is a major innovation for the crypto ecosystem, optimistic about the 'Chain...

After the latest release of the Producer Price Index (PPI) data in the USA, the price of Bitcoin rebounded strongly, breaking through the $96,000 mark, with a 2.5% increase in the past 24 hours. Among mainstream altcoins, XRP and DOGE have performed well, each with a rise of 6% to 7%. The market sentiment is warming up, showing that investors' confidence in the crypto market is gradually strengthening.
PPI data surpassing expectations injects momentum into the market.
According to reports, the US PPI in December only increased by 0.2% month-on-month, lower than the previous month's 0.4% and also lower than the economists' consensus of 0.4%. As a forward-looking indicator of the Consumer Price Index (CPI), the cooling of PPI signals further easing of inflationary pressure, which is a bullish signal for the Federal Reserve's monetary policy. The market generally believes that this will reduce the likelihood of further rate hikes by the Federal Reserve, thereby boosting the risk assets market.
Meanwhile, The Washington Post reported that sources close to the new Trump administration revealed plans by the President-elect to issue executive orders related to Cryptos after taking office. These orders may target the issue of 'debanking' and are expected to overturn the controversial SAB 121 policy, which restricts banks from providing services to cryptocurrency companies.
Cryptocurrency billionaire and Galaxy Digital founder Mike Novogratz mentioned last year that SAB...

On January 13, QCP Capital's latest analysis shows that the US non-farm payroll data reached 0.256 million, far higher than the expected 0.164 million, indicating signs of overheating in the economy. This has led to a slight cooling of market expectations for interest rate cuts and the possibility of a reintroduction of tariff policies from the Trump era, causing concerns in the market about inflation.
Despite the macroeconomic pressure and lingering FUD sentiment related to the Silk Road, the support levels for Bitcoin and Ethereum are temporarily stable at $0.091 million and $3100 respectively. The options market volatility is showing a mild downward trend, only showing a slight Put bias before President Trump's inauguration. Data such as PPI, CPI, and unemployment rate will be successively released this week. Against the backdrop of the ongoing warming of the US economy, this week may be a key period to verify the role of Cryptos as an inflation hedging tool.

Behind the fluctuations in the cryptocurrency market hides complex capital flows and behavioral patterns. From market rises to falls, wealth effects, marginal buyers, leverage risks all play important roles. This article will explore how these factors drive the cyclical volatility of the market and provide some coping suggestions for investors.
The fundamental reason for the market's rise is the influx of new funds. This inflow of funds not only drives prices up but also creates wealth effects, stimulating further development of the ecosystem. Airdrops are important tools for creating wealth effects. In September 2020, Uniswap distributed 400 UNI tokens to over 0.25 million addresses (valued at approximately $1400 at the time), with a total value exceeding $0.9 billion. This airdrop not only benefited users but also acted as a catalyst for the explosive growth of the DeFi ecosystem. In December 2023, Jito distributed 90 million JTO tokens to users, with a total value of up to $0.165 billion. Some users obtained returns of up to $0.01 million by transferring JitoSOL tokens worth only $40. Similar to Uniswap's impact on DeFi, Jito's airdrop drove the growth of Solana's total value locked (TVL) and sparked a significant amount of on-chain activities. In addition, the Jupiter project distributed 0.7 billion JUP tokens to over 2.3 million wallets, becoming one of the widest distribution airdrops in crypto history. These airdrops convert users into stakeholders, and beneficiaries often reinvest wealth back into the ecosystem, creating a self-reinforcing positive cycle.