Trump Will Nominate Brian Quintenzi As CFTC Chairman
US President Donald Trump is preparing to nominate former CFTC commissioner and a16z crypto’s global policy head Brian Quintenz as the new CFTC chair. Quintenz served as a CFTC commissioner from 2017 to 2021. Trump’s choice aligns with policies aimed at making the CFTC more proactive in crypto regulation. Current CFTC Chair Caroline Pham and Blockchain Association CEO Kristin Smith stated that Quintenz’s experience in the crypto sector makes him an ideal fit for the role.
SEC Reviewing Spot Solana ETF Applications
The US Securities and Exchange Commission (SEC); has reviewed spot Solana ETF applications made by 21Shares, Bitwise, VanEck and Canary. Cboe BZX Exchange has filed rule change requests to list the ETFs. Bloomberg analysts estimate the Solana ETF has a 70% chance of approval. However, it remains unclear whether the SEC will classify Solana as a commodity or security.
Franklin Templeton Registers Solana Trust in Delaware
Franklin Templeton is preparing to file for a spot Solana ETF by registering Franklin Solana Trust in Delaware. The asset management firm would join other applicants including Grayscale, Bitwise, VanEck, 21Shares and Canary Capital. The SEC is considering spot Solana ETF applications from 21Shares, Bitwise, Canary Capital and VanEck. Bloomberg analysts estimate the Solana ETF has a 70% chance of approval by the end of 2025. JPMorgan estimates that the ETF, if approved, could attract between $3 billion and $6 billion in assets in its first year.
Fed to Examine Crypto Firms Being Excluded from Banks
Fed Chairman Jerome Powell said that they will address growing concerns about crypto companies being excluded from the banking system in the U.S.
Speaking to the Senate Banking Committee, Powell said that he was also disturbed by reports of “debanking,” and that banks being overly cautious about money laundering rules was putting the industry in a difficult position. He also said that stablecoins could have a great future and that he supports regulation.
Goldman Sachs Increases Ethereum ETF Investments by 2,000%
Goldman Sachs increased its spot Ethereum ETF investments by 2,000% in the fourth quarter of 2024 to $476 million. In the same period, it increased its Bitcoin ETF position by 114% to $ 1.52 billion. The bank made major investments in BlackRock and Fidelity’s Ethereum ETFs, while strengthening its Bitcoin ETF assets through iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC). As institutional crypto adoption accelerates on Wall Street, Goldman Sachs’ move drew attention in the markets.
Tether to Power Next-Generation Cross-Chain Stablecoin with Arbitrum
Tether, the world’s largest stablecoin issuer, has chosen Arbitrum as the infrastructure provider to support its new cross-chain stablecoin USDT0. Arbitrum One will be the main hub connecting USDt distributions on Ethereum, Tron, TON, and Celo. Deep liquidity and fast transactions will be provided across blockchains thanks to Legacy Mesh technology. Tether’s move aims to increase the adoption and scalability of the stablecoin. The company’s record profit of $13 billion in 2024 and its $113 billion portfolio in US Treasury bonds reinforce its power in the stablecoin market.
Bitcoin Supply Hits Three-Year Low at 2.5 Million BTC
Bitcoin’s reserves on crypto asset trading platforms fell to 2.5 million BTC, the lowest level since 2022. This indicates that a “supply shock” may be experienced amid increasing institutional demand from ETFs. Bitcoin managed to stay above the psychological support of $95,000 despite the pressure created by global trade wars. Analysts predict that the market may switch from selling to buying due to “seller exhaustion.” However, the stalled inflows in spot Bitcoin ETFs and a possible drop below the $95,000 level could lead to major liquidations. In the long term, it is estimated that the Bitcoin price could reach the $160,000-$180,000 range by the end of 2025.
224,410 ETH Withdrawn from Platforms
Between February 8 and 9, Ethereum investors withdrew a total of 224,410 ETH from centralized cryptocurrency trading platforms, marking the largest net outflow in two years. This move suggests that investors are inclined to hold ETH for the long term. According to Santiment data, there are currently only 9.63 million ETH (about $26 billion) on platforms, the lowest level since August 29, 2024. The increase in ETH accumulation by large investors (whales) could have a positive impact on the market. At the same time, weekly institutional inflows into Ethereum have surpassed Bitcoin, exceeding $800 million.
Meme Coins Likely Outside SEC Jurisdiction
SEC Commissioner Hester Peirce noted that most meme coins are not considered under current securities regulations. Speaking to Bloomberg Crypto, Peirce said the SEC evaluates each meme coin individually, but many may fall outside its jurisdiction. Peirce argued that the SEC is trying to change its approach to policymaking and that a regulatory framework that is more open to innovation is needed. She also said that Congress or the Commodity Futures Trading Commission (CFTC) could introduce clearer regulations on meme coins.
Poland’s National Bank Not Considering Bitcoin Reserves
Poland’s National Bank (NBP) Governor Adam Glapiński said that they are “under no circumstances” considering adding Bitcoin to bank reserves. Glapiński emphasized that an asset must be “absolutely safe” to be included in reserves, and considered gold a more solid option compared to Bitcoin. In contrast, the Czech National Bank launched a study last week to investigate the possibility of investing in Bitcoin. European Central Bank (ECB) President Christine Lagarde also argued that Bitcoin should not be included in central bank reserves.
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BITCOIN (BTC)
BTC is priced at $95,600 as of the morning hours, down 0.20%. While the 102,451.99 level works as a strong resistance, the 108,000 – 110,000 region (red area) above is a large supply area. The price experienced a strong decline after testing this level. Currently, the price is testing the support set at 96,060.85 and is currently trading at 95,528.53. If this support level is lost, the critical support level below stands at 91,370.06. Breaking this level could lead to a deeper correction.
ETHEREUM (ETH)
ETH is priced at $2,595 with a 0.33% loss in value as of the morning hours. The 3,443.93 level has been determined as a strong resistance, and above there is a strong sell zone (red area) between 3,829.69 – 4,009.66. After testing these levels, the price entered a sharp downtrend. Currently trading at 2,591.95, ETH previously tested the 2,676.44 level, but failed to get a reaction from there. When downward support levels are examined, the 2,461.59 and 2,338.99 areas stand out as strong buy levels. In a deeper decline scenario, the 2,169.63 – 2,168.07 range could be a critical support area.
RIPPLE (XRP)
XRP is priced at $ 2.4030 with a 0.41% loss as of the morning hours. On the upper side, the 3.2000 level stands out as a strong resistance, while the 2.8716 – 2.7220 area (orange area) stands out as an important supply area. Since the price could not overcome this area, it entered a downtrend. Currently trading at 2.4013, XRP has entered a consolidation process between 2.6000 – 2.4000. As long as it remains below 2.7220, it can be expected that upward movements will be limited. While the 2.4000 level works as support in the short term, there is a strong support area (blue area) in the 2.0000 – 1.8000 band below. If the price drops below 2.4000, the probability of a decline towards 2.0000 will increase.
AVALANCHE (AVAX)
AVAX is traded at $25.14 with a 1.06% loss in value as of the morning hours. On the upper side, the 54.43 level stands out as the strongest resistance, while the 45.80 and 42.06 levels below are determined as intermediate resistances. The blue zone at the 42.06 level has been an area where the price has faced selling pressure in the past, and as long as it remains below this level, increases may be limited. AVAX, currently trading at 25.14, has fallen to 21.88 in a downtrend and is showing a slight recovery from here. In order for upward movements to continue, the 30.85, 32.95 and 35.63 levels must be exceeded. In the short term, the price is consolidated between 25.00 – 26.00.
SOLANA (SOL)
SOL is priced at $195.14 with a 1.41% loss in value as of the morning hours. While the levels of 229.30 and 245.52 stand out as strong resistance areas, the price entered a downward trend after approaching these levels. The level of 201.83 is an important support point, and the price is currently trading at 194.96. There is a support area (orange area) in the 201-205 range on the chart, and the price is testing this area again. If this support is broken, the price will be more likely to decline towards the 180-170 levels, as there is no strong support area below. However, if it reacts from this area, the first resistance level is in the 210-220 range (blue area). If this zone is exceeded, the price can be expected to rise towards 229.30 again.
