{"id":823966,"date":"2025-02-03T07:12:51","date_gmt":"2025-02-03T13:12:51","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/03\/top-crypto-news-this-week-bitcoin-reserve-bills-jup-buyback-ondo-summit-and-more\/"},"modified":"2025-02-03T07:12:51","modified_gmt":"2025-02-03T13:12:51","slug":"top-crypto-news-this-week-bitcoin-reserve-bills-jup-buyback-ondo-summit-and-more","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/03\/top-crypto-news-this-week-bitcoin-reserve-bills-jup-buyback-ondo-summit-and-more\/","title":{"rendered":"Top Crypto News This Week: Bitcoin Reserve Bills, JUP Buyback, ONDO Summit, and More"},"content":{"rendered":"
\n

The crypto markets are gearing up for a news-packed week, with several key events on the horizon.\u00a0Forward-looking or enlightened investors can capitalize on the volatility<\/a> around these events for trading opportunities. \u00a0<\/strong><\/p>\n

Meanwhile, Bitcoin (BTC) remains below the $100,000 milestone following a crash that has triggered massive liquidations across the crypto market.<\/p>\n

Kentucky State Bitcoin Reserve Bill<\/strong><\/h2>\n

Amid calls for a strategic national Bitcoin reserve in the US, several states have recently proposed and passed BTC bills.\u00a0Kentucky recently joined the movement with plans to introduce its own Bitcoin proposal.<\/p>\n

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\u201cI will be filing a bitcoin strategic reserve bill on the first week of my return to the General Assembly,\u201d wrote<\/a> TJ Roberts, Kentucky Representative.<\/p>\n<\/blockquote>\n

According to an official filing<\/a>, Kentucky is meeting in February to consider a Bitcoin Reserve. Others include Illinois, Indiana, Utah, and Arizona. South Dakota\u2019s State Representative, Logan Manhart, also recently indicated<\/a> plans to introduce a proposal.<\/p>\n

If Kentucky and South Dakota lawmakers follow through on their promises, the number of US states with Bitcoin reserve legislation will rise to 13.\u00a0This trend aligns with Dennis Porter\u2019s expectation that up to 15 states will work on \u2018Strategic Bitcoin Reserve\u2019 reserves in 2025. Porter is the CEO and co-founder of the Satoshi<\/a> Action Fund.<\/p>\n

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\u201cI can confirm that up to 15 states will be working on \u2018Strategic Bitcoin Reserve\u2019 legislation in 2025,\u201d Porter shared<\/a> on January 17 in an X (Twitter) post.<\/p>\n<\/blockquote>\n

In a follow-up post the same month, the Satoshi Action Fund executive articulated<\/a> that these filings would only be the start.<\/p>\n

Jupiter\u2019s JUP Buyback Mechanism Activation<\/strong><\/h2>\n

Jupiter\u2019s JUP buyback mechanism will be activated this week after an announcement on January 26. The network indicated that half, or 50%, of the protocol fees will go towards buybacks held in the long-term litter box.<\/p>\n

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\u201cAlignment in action, 50% of Jupiter Exchange protocol fees will now go towards JUP buybacks. The remaining 50% will be invested in the project\u2019s growth, future strategy, and full operational stability,\u201d Jupiter said<\/a>. \u00a0<\/p>\n<\/blockquote>\n

This decision followed an announcement that the firm\u2019s revenue reached $102 million in 2024. It highlighted the platform\u2019s seventh rank among Solana DApps<\/a>. <\/p>\n

According to the company\u2019s statement, the firm\u2019s primary source of revenue, Jupiter Perps, has an 84% market share among the players in the Solana<\/a> Perpetual DEX Market. Notably, Jupiter\u2019s income increased 7-fold between January and December 2024, growing from $3 million to over $21 million.<\/p>\n

\"JUP
JUP Price Performance. Source: BeInCrypto<\/a><\/figcaption><\/figure>\n

Jupiter\u2019s JUP token is down by almost 10%. BeInCrypto data shows<\/a> it was trading for $0.87 as of press time.<\/p>\n

HeyAnon Public Beta<\/strong><\/h2>\n

The public beta for Daniele Sesta\u2019s DeFAI<\/a> project HeyAnon will go live on Friday, February 7. HeyAnon (ANON) is a novel, AI-driven\u00a0decentralized finance\u00a0protocol that simplifies DeFi<\/a> interactions.<\/p>\n

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\u00a0\u201cHey Anon, Beta is Here \u2013 A Glimpse into the Future of DeFAI We\u2019ve skipped the Alpha stage entirely to bring you straight into Public Beta v0.1\u2014your first hands-on experience with DeFAI and Gemma on the 7th of February,\u201d the project shared<\/a> on X.<\/p>\n<\/blockquote>\n

By integrating conversational artificial intelligence (AI) with real-time data aggregation, HeyAnon empowers users to manage DeFi operations seamlessly.<\/p>\n

It combines natural language processing and actionable insights to redefine the DeFi user experience, from bridging\u00a0and\u00a0staking\u00a0to tracking project updates and analyzing trends.<\/p>\n

Ondo Finance Summit<\/strong><\/h2>\n

This week, the first-ever Ondo Finance summit is also among the top crypto news. It will begin on Thursday, February 6, and the project is expected to make a few big reveals.<\/p>\n

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\u201cThe Ondo Summit is just 7 days away\u2014where a bold new vision for Wall Street will be unveiled,\u201d the project shared<\/a> in a late January post.<\/p>\n<\/blockquote>\n

The event will take place in New York, as Ondo Finance strives to bring institutional-grade finance on-chain. According to the announcement<\/a>, leaders in the traditional finance (TradFi) and blockchain spaces will attend. Among them are Franklin Templeton<\/a>, BlackRock, and Fidelity Investments, all players in the real-world assets (RWA<\/a>) space.<\/p>\n

\"ONDO
ONDO Price Performance. Source: BeInCrypto<\/a><\/figcaption><\/figure>\n

Despite anticipation for the event, Ondo Finance\u2019s token price is down by over 8%. BeInCrypto data shows<\/a> ONDO was trading for $1.23 as of this writing.<\/p>\n

Injective\u2019s AI Agent Hackathon<\/strong><\/h2>\n

More closely, however, markets are also bracing for Injective\u2019s AI agent<\/a> Hackathon, slated for Tuesday, February 4. Notably, the ceremony kicks off on Monday, setting the pace for the main event. Key participants<\/a> include Google Cloud, elizaOS, and DoraHacks, among others.<\/p>\n

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\u201cIt\u2019s all about bringing AI and blockchain together to create the next generation of AI agents that can automate trades, manage assets, and maybe even handle the things we keep procrastinating on \u2013 like replying to emails or organizing our desk,\u201d one user on X remarked<\/a>.<\/p>\n<\/blockquote>\n

Builders compete to win over $100,000 in prizes, grants, funding, and more. They have four weeks to develop their ideas into projects. The top projects will be presented at Demo Day in front of the space\u2019s top builders and investors.<\/p>\n

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Disclaimer<\/p>\n

In adherence to the Trust Project<\/a> guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our\u00a0Terms and Conditions<\/a>,\u00a0Privacy Policy<\/a>, and\u00a0Disclaimers<\/a>\u00a0have been updated.<\/p>\n<\/div><\/div>\n

Read More<\/a>
\n Lockridge Okoth<\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto markets are gearing up for a news-packed week, with several key events on the horizon.\u00a0Forward-looking or enlightened investors can capitalize on the volatility around these events for trading opportunities. \u00a0 Meanwhile, Bitcoin (BTC) remains below the $100,000 milestone following a crash that has triggered massive liquidations across the crypto market. Kentucky State Bitcoin<\/p>\n","protected":false},"author":1,"featured_media":823967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,22791],"tags":[],"class_list":["post-823966","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/823966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=823966"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/823966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/823967"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=823966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=823966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=823966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}