By Shikha Singh
Tuttle Files 10 Leveraged Crypto ETFs as Issuers Test Limits.
Tuttle Capital has filed for 10 crypto-based leveraged exchange-traded funds (ETFs), including funds for popular memecoins such as Donald Trump and Melania Meme tokens, along with others targeting assets like XRP, Solana, Litecoin, and Bonk.
Analysts suggest that these filings may push the limits of what the SEC, under Trump’s appointed crypto-friendly regulators, will allow.
The leveraged funds would track assets at a 2:1 ratio, which is higher than standard ETFs. If the SEC approves, these ETFs could be trading as soon as April. Given that the SEC recently approved ETFs for Bitcoin and Ether, the filings appear to be pushing the boundaries of regulatory approval.
Venice AI Token That Gives Private Access to DeepSeek Hits $1.6 bn Total Value.
Erik Voorhees, a proponent of Bitcoin, founded Venice AI, a privacy-focused platform, and launched its Venice Token (VVV) on Ethereum’s layer-2 network, Base, on January 27.
Within two hours, the token reached a fully diluted valuation (FDV) of $1 billion, later rising to $1.65 billion.
The token allows users to stake for private access to generative AI models, including the controversial DeepSeek R-1 model, while ensuring data privacy. Venice allocated 25 million tokens to the public and Base users, with the remaining distributed among Venice’s liquidity and incentive funds.
Since its May launch, Venice has gained over 400,000 registered users. Notably, there was no presale, and no governance mechanism is in place for the token.
Ripple Announces Money Transmitter Licenses in Texas & New York.
Ripple Labs has secured money transmitter licenses in Texas and New York, expanding its ability to offer cross-border payment solutions within the US.
With over 50 licenses across various jurisdictions, the company emphasized the importance of the stringent regulatory requirements in these states.
This move follows Ripple CEO Brad Garlinghouse’s announcement in December that New York’s Department of Financial Services approved Ripple’s RLUSD stablecoin.
Despite these regulatory victories, Ripple continues to fight the SEC over the status of its XRP token through ongoing appeals.
Additionally, Ripple executives have strong ties to former President Donald Trump, including political donations and meetings.
DraftKings Settles NFL Union Suit Over NFT Pay Dispute.
DraftKings has reached a settlement in principle with the NFL Players Association (NFLPA) over a lawsuit accusing the sports betting platform of using NFL player likenesses in non-fungible tokens (NFTs) without proper payment.
The two parties have requested a 60-day stay to finalize the agreement, with a March 28 deadline. The NFLPA had sued DraftKings for around $65 million in damages after the platform stopped paying for player likenesses following a federal ruling classifying the NFTs as securities.
DraftKings had previously partnered with the NFLPA in 2021 to create collectible NFTs for a fantasy sports game. Judge Analisa Torres will approve the settlement.
Scam Tokens Surge as DeepSeek AI Goes Viral.
Scam tokens impersonating the Chinese AI company DeepSeek have surged following the company’s recent viral success.
On Jan. 27, a significant increase from the previous day resulted in the creation of at least 75 scam tokens. These tokens are part of a broader trend of fraudulent projects capitalizing on trending events, similar to the surge in fake tokens after US President Trump’s memecoin launch.
DeepSeek, which released a popular AI app on Jan. 20, has warned users about scams, including a decentralized app designed to steal funds when users connect their wallets.
Despite the warnings, scammers have been quick to exploit the buzz around DeepSeek, with some fake tokens briefly achieving market caps in the millions before losing value.
Mudrex Resumes Crypto Withdrawals After Compliance Upgrade.
Indian crypto exchange Mudrex has resumed withdrawals on its platform after briefly pausing them on January 12 for compliance upgrades.
The company implemented AI-driven enhancements to strengthen its compliance infrastructure and safeguard against malicious actors.
Mudrex emphasized its commitment to compliance with local regulations, including the Financial Intelligence Unit (FIU) and Anti-Money Laundering (AML) guidelines, as well as the Financial Action Task Force (FATF) standards.
The exchange, which serves over 3 million users, also requires users to undergo verification through Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) processes. Mudrex has seen significant growth, reporting a 200% increase in its user base in 2024.
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