With another close of the week approaching, it’s that time where we look back at the happenings that made the crypto market lively over the last 7 days. 

There’s the trend of AI tokens skyrocketing, crypto regulation battles raging, and Tether suing the Swan Bitcoin saga—and trust us to give you the premium teas to the max. How do you want it served? We say, simple and sweet—as hot as possible.

Let’s start with the top gainers and losers of the week in the crypto market scene.

Top Gainers of the Week

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Source: Coinmarketcap
  • XDC Network (XDC) tops the chart of top gainers this week recording a 36% increase in value in the last 7 days.
  • XRP (XRP) isn’t far behind either, making it to second position with prices having increased by 29.86%.  
  • Fartcoin (FARTCOIN), a Solana based meme coin, also experienced massive growth to the tune of 26.43% increase in price—rounding out the top 3 gainers of the week. 

Top Losers of the Week

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Source: Coinmarketcap
  • THORChain (RUNE) isn’t having its best week as it topped the chart of the top losers in the crypto market following a 12.63% decline in its value for the past week.
  • Movement (MOVE), a newly introduced crypto gaming initiative, is already off on a rocky path with its price movement in the last 7 days geared towards red—a 7.89% decrease in value.
  • Mantle (MNT) rounds out the top three losers with a 5.62% price decrease. 

AI Tokens Surge Following Franklin Templeton's Predictions

According to the latest news report from the crypto AI sector, some of its major tokens, like AI16z and Virtuals Protocol, have been skyrocketing lately. Many experts believe this surge the sector is experiencing is due to a compelling report from Franklin Templeton, which acknowledges the excitement surrounding AI agents.

In the report, Franklin Templeton stated, “We can foresee AI agents launching their own brands, products, music, movies, and more, generating substantial economic value for their ecosystems.”

However, the researchers at Franklin Templeton caution that this technology is still developing. They remarked, “While these agents are not yet fully autonomous and have limited utility at present, this emerging sector shows significant promise and merits close observation as it evolves.”

The report has reignited interest in several AI tokens within the cryptocurrency market. For example, VIRTUAL surged nearly 8%, briefly surpassing $3 on January 15, while AI16z rose by 17.5%, trading at $1.35 at the time of reporting. 

Other tokens also saw positive movements; AIXBT increased by 28%, reaching around $0.70, while the Artificial Superintelligence Alliance token gained 3.7% in the past 24 hours.

SEC Delay Decision on Bitwise 10 Crypto ETF Until March 2025

The U.S. Securities and Exchange Commission (SEC) has delayed its decision regarding the Bitwise 10 Crypto Index exchange-traded fund (ETF) until March 3, 2025. This postponement allows the SEC more time for a thorough evaluation of the proposal, which aims to list the Bitwise 10 Crypto Index Fund on NYSE Arca.

According to a press release by the regulator, the extended review period will enable the SEC to assess the potential impact of this fund, which is designed to track the performance of major cryptocurrencies by market capitalization. It’s important to note that Bitwise has been managing this fund since its inception in 2018.

On November 14, 2024, NYSE Arca submitted the proposal to the SEC for approval. The SEC published this filing for public comment on December 3, 2024; however, no comments have been received thus far. The SEC is mandated to act on such filings within 45 days of publication, but this deadline has now been extended.

If approved, this ETF would represent a significant milestone in the SEC's approach to cryptocurrency investment products. The Commission's cautious stance reflects ongoing concerns about market manipulation and investor protection. 

Analysts like James Seyffart from Bloomberg noted that this delay was anticipated and suggested that further delays might occur for other proposals as well.

Tether Initiates Lawsuit Against Swan Bitcoin Over Joint Venture Dispute

Tether has filed a lawsuit against Swan Bitcoin, claiming serious violations of their joint venture agreement related to the Bitcoin mining initiative known as 2040 Energy. This legal action, confirmed by Tether and co-claimant 2040 Energy on January 15, 2025, marks a significant escalation in their ongoing dispute.

In its statement, Tether asserted that it has consistently acted in good faith and upheld all agreements during its partnership with Swan. However, Tether accused Swan of engaging in reckless conduct that resulted in major breaches of contract.

The conflict originated when Swan and Tether launched 2040 Energy in 2022, with Tether providing funding while Swan oversaw operations. Swan alleged that former employees misappropriated confidential information to establish a rival firm, Proton Management. This plan reportedly involved key personnel from Swan now linked to Proton.

To its defense, Swan claimed that Proton exploited trade secrets and persuaded Tether to cut ties with them. Following these events, Swan's CEO was ousted from his role at 2040 Energy, allowing Proton to assume control. Meanwhile, Tether denied any wrongdoing, maintaining that its actions were within contractual rights.

Additionally, Swan Bitcoin has initiated a malpractice suit against its previous law firm for purportedly neglecting its case against Proton after representing Tether. This series of legal challenges underscores the mounting tensions between the two companies and raises critical questions about the future of their joint venture.

Hong Kong courts have introduced the ability to serve tokenized legal notices on the blockchain to address anonymous owners of illicit wallet addresses. 

A recent court injunction revealed two Tron wallet addresses that received notices to freeze their assets. This innovative approach distinguishes Hong Kong's legal system by eliminating ignorance as a defense in such cases.

Joshua Chu, a cybersecurity consultant at Macro Systems, emphasized that transactions involving these wallets could violate criminal law, potentially deterring centralized exchanges from engaging with them due to their anti-money laundering obligations.

Traditionally, serving legal documents required in-person delivery or registered mail, but this new method addresses the challenges of reaching wallet holders. The injunction aimed to secure 2.65 million USDT lost in an online scam, although a portion of the assets had already been moved by the suspects.

While Tron is heavily used for illicit transactions, awareness among victims remains low, as many are unaware of the legal options available.