Hello, its another crypto digest here on HODLfm and you know how we do it. We’re bringing all the latest from the crypto space starting with KuCoin agreeing to shell out $300m without even putting up a fight.
Talking about million, the recent Ledger’s co-founder kidnapping has brought to light the crazy new trend where crypto moneymakers are now becoming the target of kidnappers.
And then, there’s Donald Trump, who has crossed his mind to milk out the crypto industry before he leaves office with project after project.
Before we dive in deeper, here are this week’s gainers and losers
Top Gainers of the Week
- MANTRA: MANTRA achieved an impressive 44.73% weekly gain, settling at $5.23. The surge is directly tied to its recent $1 billion tokenization deal with DAMAC and a $20 billion U.S. data center investment linked to TRUMP.
- Onyxcoin: Onyxcoin posted a strong 36.05% gain this week, reaching $0.03217. The rally is fueled by a new White Paper, Onyx XCN Ledger release on February 3rd, and a dispute resolution with HTX Global and Justin Sun.
- JUPITER: Jupiter recorded a 23.85% increase this week, hitting $1.06. The growth follows major announcements at their first-ever 'Catstanbul 2025' event, including a 3 billion JUP token burn and a new 50% protocol fee buyback program.
Top Losers of the Week
- PENGU: Pudgy Penguins experienced a steep 39.38% weekly decline to $0.0149. The drop is due to its struggling Layer-2 network Abstract, whose TVL plummeted to $109,231, raising sustainability concerns.
- FARTCOIN: Fartcoin tumbled 30.19% to $1.01 this week. The decline followed a major $25 million OTC sale by the Terminal of Truths operator, triggering widespread selling pressure and damaging market confidence.
- TRUMP: Official Trump token dropped 23.14% to $25.76. The decline comes after its initial surge to $74.71 on January 19, with profit-taking and regulatory concerns weighing on sentiment as Trump enters office.
KuCoin pleads guilty, agrees to pay nearly $300 million in US crypto case
KuCoin just coughed up $300 million in fines after pleading guilty to running an unlicensed crypto operation in the U.S.—essentially getting caught with its KYC/AML pants down.
The bill includes $184.5 million in forfeited profits and $112.9 million in fines, plus a two-year ban from the U.S. market (think of it as a very expensive time-out).
KuCoin will exit the U.S. for at least two years after a $297M settlement with DOJ.
— Max Dilendorf (@MaxDilendorf) January 28, 2025
They violated AML laws, neglected KYC, failed to report suspicious transactions, and didn’t register with FinCEN.
Guess that’s not exactly “responsible growth” under Trump’s Executive Order… pic.twitter.com/DnjZEecDhq
Founders Michael Gan and Eric Tang paid $2.7 million each and stepped down, dodging jail but not humiliation. The exchange allegedly let users trade anonymously for years, leading to billions in sketchy transactions—employees even called KYC checks "optional," which is like saying seatbelts are "decorative."
Oddly, KuCoin’s token KCS jumped 13.7% post-settlement, proving crypto traders thrive on chaos.
$100M Ledger Kidnapping: How Crypto Millionaires Became Crime Targets
Ledger co-founder David Balland and his wife just survived a $100 million Bitcoin kidnapping plot in France—a real-life crime thriller that makes Ocean’s Eleven look tame.
This is David Balland, co-founder of Ledger
— Skynet Insights (@NeuralSet) January 26, 2025
A few days ago he was kidnapped and brutally tortured
I spent 24h investigating his case and was shocked
Here's untold story of the first crypto kidnapping👇🧵
(Read this if you want to keep yourself and your funds safe) pic.twitter.com/QZp4jRyEPE
Kidnappers sliced off Balland’s finger (yes, you read that right) and demanded 100 BTC (~$100 million), only to get outsmarted by French police who sent 1 BTC (~$105k) to trace the ransom wallet.
Over 200 officers, including France’s elite GIGN unit, stormed in, arrested 10 suspects, and rescued the couple without firing a shot.
Balland is recovering (minus one digit), while his wife escaped unharmed. The irony? Ledger’s devices protect billions in digital assets, but this heist exposed how physical safety might need a firmware update.
Trump’s Media Firm Makes Finance Push in Latest Conflicts Test
Trump Media & Technology Group—the parent company of Truth Social—just dropped a $250 million crypto and ETF gambit under its new “Truth.Fi” brand, blending MAGA politics with finance in a move that’s either genius or ethically dubious (or both).
The company plans to funnel cash into Bitcoin, “America First” ETFs targeting U.S. manufacturing, and a “Patriot Economy” initiative custodied by Charles Schwab. TMTG’s shares surged 10%, pushing the company’s valuation past $7 billion.
Trump Media and Technology Group (TMTG), owner of Truth Social, is expanding into financial services.
— AnKit DuBey (@AnkitDubeyMBY) January 29, 2025
They plan to launch Truth .Fi, a fintech brand, with up to $250 million from their reserves possibly invested in bitcoin and other cryptocurrencies.
Shares of TMTG, under the…
Fun fact? Trump still owns 53% of TMTG through a trust managed by Don Jr., meaning policies his administration crafts could directly boost his portfolio. Critics are howling about conflicts of interest, especially with Trump’s $1 billion stash of $TRUMP and $MELANIA meme tokens floating around.
This crypto push comes as Trump’s yet-to-be-named SEC chief will oversee the very regulations shaping these markets. Meanwhile, Truth.Fi’s launch suspiciously aligns with Elon Musk’s X-Visa payments deal, proving “anti-establishment” billionaires love a good oligopoly.
Richard Adrian
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