These Topics Lead Trending Stories Thursday
🗣️ According to social data on X, Reddit, Telegram, & other platforms, the top trending stories across crypto today, are:
👩💻 Zcash Team Resigned: Zcash's entire core development team resigned after a governance dispute with the Bootstrap board. The team plans to form a new company to continue advancing privacy technology independently. This caused a sharp 20% drop in $ZEC price and wiped out $1.6 billion in market cap. Meanwhile, Monero ($XMR) is gaining attention as the leading privacy coin amid Zcash's turmoil.
🌬️ Live Fartcoin Sold: Whales are actively trading $FARTCOIN with multiple large buys amid a $418M market cap, signaling strong speculative interest. Meanwhile, notable sales in $ZEC and $RAY suggest caution around privacy coins and Solana ecosystem tokens. President Trump’s move to restrict institutional home buying adds macro pressure, potentially driving liquidity into crypto and real assets. Solana’s SKR airdrop and private credit access via ZIGChain also fuel market chatter. 🇺🇸 Bessent Urges Rate Cuts: Treasury Secretary Scott Bessent is urging the Federal Reserve to accelerate interest rate cuts, calling lower rates the key missing factor for stronger U.S. economic growth. He highlights potential large tax refunds for millions of Americans as a positive outcome. Bessent's push comes amid cautious Fed officials and ongoing discussions about Powell's successor. The call signals a pro-growth stance aiming to boost investment and economic momentum.
💵 Charter for Stablecoin: World Liberty Financial, backed by Donald Trump, has applied for a U.S. national trust bank charter to issue and custody its USD1 stablecoin. This move aims to bring the stablecoin fully under federal oversight, enhancing regulatory compliance and institutional trust. USD1 has already surpassed $3.3 billion in circulation, signaling strong market adoption. The charter would enable fee-free minting, redemption, and custody services, positioning WLFI for broader institutional use.
📉 Ethereum, BTC Outflows: Bitcoin and Ethereum spot ETFs experienced significant outflows on January 7, with $486 million and $98 million withdrawn respectively, signaling cautious investor sentiment. Meanwhile, Solana saw modest inflows, indicating selective interest in altcoins. Morgan Stanley filed for a spot Ethereum ETF with staking, highlighting growing institutional demand for yield-bearing crypto products. Florida introduced a bill to allocate public funds to Bitcoin, reflecting increasing government-level adoption.