What Happened in Crypto Today: 2 January Latest Crypto News Highlights
Garanti BBVA to Offer Crypto Trading via Bit2Me
Garanti BBVA Kripto, owned by BBVA, will offer crypto trading services to the public through Bit2Me, a Spanish crypto exchange. This move follows the full implementation of MiCA regulation in the EU. Abel Peña of Bit2Me expects more banks to launch crypto services in early 2025. Regulatory clarity and President-elect Trump’s pro-crypto stance have spurred this shift. BBVA joins Deutsche Bank and Société Générale in embracing crypto services.
Switzerland Reviews Bitcoin Constitutional Proposal
Switzerland is considering adding Bitcoin to its constitution. The proposal, initiated by lawmaker Samuel Kullmann, aims to collect 100,000 signatures for a referendum. Dennis Porter, CEO of Satoshi Act Fund, supports this effort. The proposal is in the review stage, though skepticism exists, especially from the Swiss National Bank’s Thomas Jordan, who questioned Bitcoin’s suitability for reserves. The plan reflects years of preparation, with the city of Lugano already embracing Bitcoin for tax payments.
Bio Protocol to List on MEXC, Farming Ends Today
Bio Protocol’s listing on MEXC is confirmed for January 3, 2025, at 10:00 UTC, with the trading pair BIO/USDT. Deposits are open, and withdrawals start January 4, 2025. The farming period on Binance Launchpool ends today, concluding a phase from December 24, 2024, to January 2, 2025. Bio Protocol aims to amplify its presence in the DeSci sector with an initial circulating supply of 1,296,529,168 BIO from a total supply of 3,320,000,000 BIO.
China Tightens Crypto Trade with New Forex Rules
China has introduced new forex rules for banks to flag risky transactions, including those involving cryptocurrencies. The State Administration of Foreign Exchange mandates monitoring and reporting of illegal cross-border financial activities. China’s stance on crypto has hardened since banning exchanges and ICOs in 2017, followed by shutting down mining operations in 2021. Despite its crackdown, China still holds 194,000 Bitcoins from seizures. The country leads in central bank digital currency (CBDC) development.
Elon Musk’s PFP Switch Triggers $KEKIUS 87% Price Crash
Elon Musk’s profile picture update led to an 87% crash in $KEKIUS, dropping its value from $0.48 to $0.064 within 24 hours, then rebounding to $0.10. Crypto trader rektdolphin.eth lost $910,000 after swapping $1.2 million in $PEPE for $KEKIUS. The incident underscores the dangers of FOMO and the unpredictability of social media-driven market movements, urging traders to avoid hype, conduct thorough analysis, and stick to a clear strategy.
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