Rumors about Yuga Labs potentially selling the intellectual property (IP) rights to CryptoPunks caused a 13% surge in the NFT collection’s floor price, reaching 41 ETH (approximately $130,000) in just three hours. The speculation originated from a Jan. 14 post by NFT researcher “Wale.moca,” who claimed the buyer is not a Web2 brand or an established NFT company like Azuki or Pudgy Penguins. CryptoPunks, the most valuable NFT collection with a market cap of 414,700 ETH ($1.3 billion), was acquired by Yuga Labs from Larva Labs in March 2022. While the collection’s floor price has decreased 37% since the acquisition, Ethereum’s value has risen by 24% in the same period. Yuga Labs, which also owns the Bored Ape Yacht Club collection, has yet to confirm or deny the rumors.

Ripple Criticizes SEC’s Decision to Continue Appeal Ahead of Gensler’s Resignation

Ripple executives criticized the SEC for proceeding with its appeal against the company despite the imminent resignation of SEC Chair Gary Gensler on Jan. 20. Ripple’s chief legal officer, Stuart Alderoty, expressed frustration over the regulator’s decision to move forward with its brief filing in the $125 million judgment case, where Ripple was accused of using XRP as an unregistered security. Ripple CEO Brad Garlinghouse suggested that new SEC leadership under President-elect Donald Trump could lead to a shift in the agency’s approach to crypto enforcement. Trump has pledged to nominate former SEC Commissioner Paul Atkins as the next chair, pending Senate approval. Ripple and its executives have actively supported pro-crypto initiatives, with Alderoty donating $300,000 to Trump-related political efforts and Ripple contributing $70 million to the Fairshake PAC for promoting pro-crypto candidates.

Bitcoin Reserve Debate Gains Global Momentum Across Five Continents

Interest in Bitcoin as a reserve asset is gaining traction worldwide, with politicians and regulators across five continents considering its potential for economic stability and international trade. Countries like the United States and Brazil are reviewing bills to establish national Bitcoin reserves, while Czechia and Russia are exploring its use for diversification and circumventing sanctions. Switzerland, South Africa, Poland, Germany, Japan, Hong Kong, and Venezuela are also engaging in discussions or proposals regarding Bitcoin reserves. El Salvador remains the only country with an established Bitcoin reserve, led by President Nayib Bukele, who made BTC legal tender in 2021. However, skepticism persists, as many policymakers and citizens remain unconvinced of Bitcoin’s value as a strategic asset.

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