Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced that it has received In-Principle Approval (IPA) from the Securities & Commodities Authority (SCA) of the United Arab Emirates (UAE) to operate as a Virtual Asset Platform Operator in the UAE. The approval, dated February 18, 2025, signifies a significant milestone in Bybit's efforts to provide a secure and compliant platform for crypto traders in the region. Bybit is now in the final stages of obtaining its fully operational license, demonstrating its commitment to meeting regulatory and compliance standards. This authorization brings Bybit closer to offering a wide range of digital asset services to retail and institutional clients in the UAE, aligning with its goal of fostering a compliant and innovative digital asset ecosystem. Bybit's progress in the UAE complements its existing regulatory approvals in the Middle East and reflects its dedication to compliance in key financial hubs worldwide.

On January 30th local time, US President Trump stated that he plans to fulfill his promise of imposing a 25% tariff on imported goods from Mexico and Canada on February 1st, and will decide whether to include oil in the list of goods subject to tariffs on the evening of January 30th. On January 20th, when signing a series of executive orders in the Oval Office of the White House, Trump told the media that he is considering imposing a 25% tariff on Mexico and Canada, and the tax may be implemented from February 1st this year. (CCTV News)

after attempting to arrest President Yoon Suk-yeol, Korean senior government officials from the Crime Investigation Department (CID) had a confrontation and physical conflict with security personnel inside the presidential residence today (January 3). The arresting officers have already passed through the main gate of the residence, but have not yet entered the building where Yoon Suk-yeol is located. 

1.Fed Governor Bowman: Be cautious about rate cuts

1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.

The US Securities and Exchange Commission (SEC) ruled that the actions of cryptocurrency company Terraform Labs and its founder Do Kwon constitute fraud. The company's bankruptcy in 2022 resulted in a loss of $40 billion in investor funds.

Terraform Labs and its founder Do Kwon will face trial in Manhattan on Monday, accused by regulators of lying to investors about the collapse of the company's two cryptocurrencies, LUNA and UST, which disrupted the market in 2022. Regulators also accuse them of falsely claiming that Terraform's blockchain was used for a popular mobile payment app in Korea. Do Kwon will not attend the trial. He was arrested in Montenegro last March and is awaiting extradition back to his home country of South Korea, where he faces criminal charges. A court in Montenegro postponed his extradition on Friday, citing concerns from the country's prosecutor's office about the extradition process.

Do Kwon, co-founder of Terraform, will be released from prison in Montenegro, but due to several criminal charges brought by national authorities, he will remain in the Balkans. The High Court of Montenegro ordered the confiscation of Kwon's passport on Friday to prevent him from leaving the country. According to the court's order, Kwon will leave Spuž prison on Saturday. The prosecutor opposes extraditing Kwon to South Korea and would prefer him to be sent to the United States, where he could face a longer sentence if convicted.

Market news: Terra co-founder Do Kwon has been released and is awaiting the extradition decision of the Supreme Court.