Coin Telegraph

SushiSwap’s total value locked has declined sharply since 2021 highs, according to DefiLlama.

Sushi Labs has acquired Shipyard Software, a cryptocurrency trading software developer, in a bid to improve the performance of the SushiSwap decentralized exchange (DEX), Sushi Labs said on Jan. 28.

The acquisition seeks to address several common challenges facing DEXs, such as SushiSwap. They include “mitigating impermanent loss, optimizing liquidity provisioning, and enhancing multichain trading efficiency,” Sushi Labs said in a statement shared with Cointelegraph. 

The deal comes as SushiSwap seeks to regain lost ground after a protracted decline in total value locked (TVL) since 2021. The DEX is also facing increasing competition from DEXs on Solana and emerging chains such as Hyperliquid, which specializes in trading. 

Read more

XRP Ledger’s decentralized exchange has seen a total of more than $1 billion in swap volume since launching in 2024, according to Ripple’s CEO.

XRP Ledger’s native decentralized exchange (DEX) has clocked $400 million in swap volume in January, averaging approximately $17 million per day, Ripple CEO Brad Garlinghouse said on Jan. 28. 

The DEX has handled upward of $1 billion in cryptocurrency swaps since launching in 2024, he said during a discussion on the X platform as part of XRP Community Day. 

Its rapid growth is among several reasons “why 2024 will certainly stand out as one of the most monumental years for Ripple,” Garlinghouse continued. 

Read more

Unsustainable memecoin frenzies, global uncertainty and investors’ risk-averse positioning could complicate Solana’s chances of hitting new all-time highs.

Solana’s native token SOL (SOL) saw its price drop by 17.2% between Jan. 24 and Jan. 27. After touching its lowest levels in 10 days, the price recovered to $235, but this is still 26% below its Jan. 19 all-time high of $295. This recent downturn partially reflects a 40% decline in Solana’s network onchain trading activity. Despite the short-term weakness, SOL has the potential for further gains in 2025.

7-day onchain trading volumes rank, USD. Source: DefiLlama

Solana’s competitors have shown more resilience. BNB Chain volumes dropped by just 1%, while Ethereum’s base layer saw a 10% reduction in activity over seven days. However, it’s important to note that other competitors and Ethereum layer-2 solutions also reported 25% to 30% lower onchain volumes during the same period.

Read more

Binance has faced its fair share of legal probes around the world, often forcing it to withdraw from countries or pay hefty fines.

Cryptocurrency exchange Binance has come under scrutiny from governments in multiple countries in recent years, with authorities in France launching the latest legal challenge.

On Jan. 28, authorities in France reportedly opened an investigation into the exchange over allegations of money laundering and tax fraud. The money laundering is reportedly associated with drug trafficking. The investigation is looking into a period between 2019 and 2024 but is not limited to France and will include all European Union countries.

It is not the first time Binance has been in the crosshairs of the French government. The country has been examining the company’s activities since 2022, with the exchange reportedly failing to have adequate Know Your Customer procedures to check on users and possible money laundering activity.

Read more

Tokenized T-Bills can now be traded on the Arbitrum network using Spiko’s money market funds.

French fintech company Spiko has deployed its money market funds on Arbitrum One, bringing institutional-grade investment assets to the layer-2 blockchain.

According to a Jan. 28 announcement, Spiko’s tokenized US and EU T-Bill Money Market Funds are now available on Arbitrum One. The funds are regulated under the European Commission’s Undertakings for Collective Investment in Transferable Securities (UCITS), which provides a framework for selling mutual funds. 

Net assets held by Spiko’s US T-Bills Money Market Fund have grown by 8% over the past 30 days, reaching more than $50 million, according to RWA.xyz. The fund offers an annual percentage yield (APY) of 4.37%.

Read more

Bitcoin coils below $103,000, but dovish comments from this week FOMC could send BTC price to new highs.

After a brief drop below $100,000, Bitcoin's (BTC) price closed its daily candle at $102,000 on Jan. 28. Over the past 24 hours, the crypto asset has consolidated above the six-figure range, as the market braced itself for the upcoming Federal Open Market Committee (FOMC) meeting.

Target Rate probabilities for Jan. 29 Fed meeting. Source: CME

CME’s FedWatch tool has predicted that there is a 99.5% chance that the Fed will keep its interest rates unchanged at 4.25% to 4.50%.

Read more

Lawyers for Cynthia Lummis filed an amicus brief as part of Coinbase’s appeal over a ruling in its case with the SEC, claiming the commission “flouts” its enforcement authority.

Wyoming Senator Cynthia Lummis, a crypto holder and US lawmaker vocal about her support for legislation and regulation favoring the digital asset industry, has penned an amicus brief in support of Coinbase’s appeal against the Securities and Exchange Commission.

In a Jan. 24 filing in the US Court of Appeals for the Second Circuit, Lummis claimed that the SEC “flouts” its approach to crypto enforcement cases, arguing that the regulator exceeded its authority. The senator said that “decades-old securities statutes and regulations” could not always be applied to modern assets like cryptocurrencies and called for lawmakers to establish a framework for digital assets.

“With lawsuits pending across the country that rely on the SEC’s overzealous interpretation of the securities laws, it is vital that the Second Circuit — the country’s leading securities law court — weigh in now and halt the SEC’s contravention of the separation of powers and encroachment on Congress’s lawmaking powers,” said the amicus brief. “A Second Circuit standard regarding when digital assets qualify as securities is urgently needed.”

Read more

Bitcoin Cash advocate Roger Ver has made a public plea to President Trump to commute his tax evasion charges.

Early Bitcoin adopter Roger Ver has launched a social media campaign pleading with US President Donald Trump to pardon his tax evasion and mail fraud charges, claiming he is the victim of “lawfare” — just like recently pardoned Silk Road founder Ross Ulbricht and Trump himself.

Currently awaiting extradition to the US, Ver says he faces “109 years” behind bars for crimes he did not commit. In his view, US authorities unjustly pursued him.

However, crypto proponents appear divided over whether Ver deserves a pardon. Some argue he did commit these crimes and that his character is what makes him worthy of the sheer size of the punishment.

Read more

Upon launch, Ondo’s OUSG tokens will be redeemable using Ripple’s RLUSD stablecoin.

Tokenization protocol Ondo Finance plans to deploy its tokenized US Treasury fund on the XRP Ledger, giving investors access to institutional-grade government bonds that can be redeemed with stablecoins.

According to a Jan. 28 announcement, the Ondo Short-Term US Government Treasuries (OUSG) fund will go live on the XRP Ledger within the next six months. The announcement said Ondo and XRP Ledger developer Ripple plan to “seed OUSG liquidity” immediately upon launch.

OUSG provides exposure to short-term US Treasurys and is backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). According to Ondo, OUSG offers intraday settlement and redemptions. 

Read more

The Paris Public Prosecutor’s Office reportedly launched a probe into the crypto exchange’s activities between 2019 and 2024.

Authorities in France have reportedly launched an investigation into cryptocurrency exchange Binance over allegations of money laundering and tax fraud.

According to a Jan. 28 Reuters report, the economic and financial crime division of the Paris Public Prosecutor’s Office said it had opened a probe into the crypto exchange’s activities between 2019 and 2024 over money laundering allegedly connected to drug trafficking. Binance users also reportedly said the exchange incorrectly communicated information to them, resulting in investing losses. 

Earlier reports suggested that French authorities had been investigating Binance’s local arm since at least 2022 over allegations of money laundering and other illicit activities. Cointelegraph reached out to Binance for comment but had not received a response at the time of publication. 

Read more