Coin Telegraph

Bitfarms will sell its largest Paraguay mining farm to Hive Digital for $85 million as it focuses on its US expansion in Bitcoin and AI infrastructure.

Bitfarms, a multinational Bitcoin mining firm, will sell its 200 megawatt (MW) facility in Yguazu, Paraguay, to Hive Digital Technologies — a competing mining and AI company — for approximately $85 million. The capital will be reinvested to strengthen Bitfarms’ capacity in the US.

On Jan. 28, Hive signed a binding letter of intent to purchase one of the three Bitfarms-owned and operated Bitcoin (BTC) mining farms in Paraguay. 

Bitfarm’s Bitcoin mining site in Yguazu, Paraguay. Source: Bitfarms

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The National Football League Players Association’s lawsuit came a few weeks after DraftKings closed its NFT marketplace in July.

US sports betting site DraftKings has reached a settlement with the National Football League Players Association, which accused the platform of failing to pay for using NFL player likenesses featured in non-fungible tokens.

DraftKings and the NFLPA said in a Jan. 27 joint letter to New York federal Judge Analisa Torres that they had mediated the suit and reached a settlement in principle pending “a definitive settlement agreement.”

The pair requested a 60-day stay of suit — giving them until March 28 to finalize the settlement. The exact details of the settlement were not disclosed.

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Tuttle Capital filed for ETFs betting on memecoins, including from Donald and Melania Trump, in a move that analysts say will test Trump-era regulatory limits.

Tuttle Capital has filed for ten crypto-based leveraged exchange-traded funds (ETFs), including some for popular memecoins, with analysts saying issuers are testing the limits of Trump-appointed crypto-friendly regulators.

Tuttle’s proposed ETFs include funds that are two times leveraged long on memecoins from Donald Trump and his wife Melania, Bloomberg ETF analyst James Seyffart said in a Jan. 27 X post.

In addition to the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens, Seyffart said that Tuttle’s other proposed funds include “a bunch of memecoin products and assets” that don’t have ETFs yet.

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As US Treasury secretary, billionaire hedge fund manager Scott Bessent will have sway over fiscal policy, financial regulations, international sanctions and overseas investments.

The US Senate has confirmed Donald Trump’s pick for US Treasury secretary, billionaire hedge fund manager Scott Bessent.

On Jan. 27, the Senate voted 68 to 29 to confirm Besset, with 16 Democrats supporting the nomination.

Ripple CEO Brad Garlinghouse congratulated Bessent on X, adding that he was “confident he’ll enact common-sense economic policies, working with the Administration and Congress to grow US tech and crypto innovation.”

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The US market dipped amid the release of Chinese firm DeepSeek’s latest AI model, which can supposedly perform as well as ChatGPT for a fraction of the cost.

Apple, Meta and Amazon were the only three “magnificent seven” tech stocks that withstood a wide market rout amid panic over Chinese artificial intelligence firm DeepSeek’s latest model, which supposedly rivals OpenAI’s ChatGPT.

Apple (APPL) closed up 3.18% on Jan. 27, while Meta Platforms (META) gained 1.91%. Amazon also just crept over the line, closing up 0.24% on the day.

Meanwhile, shares in chip maker Nvidia Corp (NVDA) closed down nearly 17% on Jan. 27, wiping out almost $600 billion in value — the largest one-day value drop in US stock market history.

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KuCoin has admitted to operating an unlicensed money-transmitting business and will pay nearly $300 million in fines and forfeiture.

KuCoin has pleaded guilty to operating an unlicensed money-transmitting business and agreed to pay nearly $300 million in a settlement with the US, with its founders also forced to resign from the crypto exchange.

PEKEN Global Limited, operating as KuCoin, entered its guilty plea in a Manhattan federal court as part of a settlement deal, the Department of Justice said on Jan. 27.

The plea includes a forfeiture of $184.5 million and a $112.9 million fine, and KuCoin will exit the US market for two years. The exchange’s founders, Michael Gan and Eric Tang, will also forfeit $2.7 million and “will no longer have any role in KuCoin’s management or operations” in a deferred prosecution agreement.

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Venice AI, a startup that allows private access to DeepSeek’s AI model, hit a total value of over $1 billion within hours through its newly launched token.

Venice AI, a privacy-focused artificial intelligence platform founded by Bitcoin advocate Erik Voorhees, launched a token on Ethereum layer-2 Base that notched a fully diluted value of $1 billion within under two hours after its launch.

The platform’s self-titled Venice Token (VVV) hit a fully diluted value — the value of the total supply of its tokens — of more than $1 billion just after 6 pm UTC on Jan. 27 after launching around an hour and a half earlier, DEXScreener data shows. 

Its FDV is now at around $1.65 billion, with a market capitalization of $306.4 million, as 25 million tokens out of its 100 million total were released to the public. Basescan shows there are currently a little over 13,200 tokenholders.

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Malicious “DeepSeek” tokens have surged in the past 24 hours, underscoring scammers’ mobility in reacting to current events.

Malicious “DeepSeek” crypto tokens have surged over the past 24 hours as the Chinese AI company goes viral.

According to data from security firm BlockAid, at least 75 scam tokens were created as of Jan. 27, representing a threefold jump from the previous day. This mirrors the spike in fake tokens released after US President Donald Trump released his memecoin on Jan. 18.

DeepSeek launched the latest version of its AI app on Jan. 20, quickly going viral and rising to the top of the Apple app store. Along with it has come an unfortunate turn: a proliferation of scam tokens seeking to capitalize on the company’s success.

According to Oz Tamir, research analyst at BlockAid, scammers have already set up a decentralized application (DApp) that mimics the website of DeepSeek, with a “Connect Wallet” button that, when clicked, could potentially drain the crypto user’s wallet. Tamir noted that this DApp highlights the sophistication of these scams and the need for users to be vigilant.

Scam tokens impersonating DeepSeek skyrocketed. Source: BlockAid

Related: Trump memecoins boost ‘crypto’ Google searches to 3-year high

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The payments firm said with the addition of the two US states, it held more than 50 licenses across different jurisdictions.

Blockchain payments firm Ripple Labs said it had secured money transmitter licenses in the US states of Texas and New York.

In a Jan. 27 notice, Ripple said financial regulators in Texas and New York had approved money transmitter licenses for the payments firm, which reported holding more than 50 licenses across different jurisdictions. According to the blockchain firm, the licensing would allow it to offer users a cross-border payment solution in the US.

“Texas and New York have defined regulations and stringent licensing requirements with robust compliance standards and regulatory oversight,” said Ripple.

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Bitcoin’s sell-off to $97,777 was followed by a healthy response from dip buyers. Is a snap back to BTC’s range highs the next logical step?

Bitcoin (BTC) price witnessed a sharp decline of 7.13% toward the tail end on Jan. 26 to the early hours on Jan. 27, dropping under $100,000 for the first time since Donald Trump became the 47th US president.

Bitcoin 4-hour chart. Source: Cointelegraph/TradingView

Since then, the crypto asset has teased a position above $100,000 as the market contemplated the next directional bias.

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