OX.FUN Exchange Denies Claims of Liquidity Problems

The market saw significant movements in various sectors, with cryptocurrency and AI industries leading the way in recent news. The GROK Token surged by an impressive 82% amid xAI’s impending groundbreaking launch. Similarly, BigBear.ai experienced volatile trading sessions, eventually closing up by 1.51%. Tech stocks made a recovery following a selloff induced by DeepSeek, leaving investors wondering about the sector’s future trajectory. China’s AI competition intensified as Alibaba introduced the Qwen Model in a challenge to DeepSeek.

Goldman Sachs made a substantial investment of $2 billion in a Q4 Bitcoin ETF, indicating continued interest in the digital asset. HIVE Digital reported a profitable Q3 with a revenue of $29.2 million, showcasing growth and stability in the cryptocurrency market. OpenAI made headlines by rejecting a staggering $97.4 billion acquisition offer from a group led by Elon Musk. Meanwhile, USPS halted package deliveries from China and Hong Kong due to new trade regulations, impacting cross-border commerce.

In the realm of cryptocurrency scandals, Sam Bankman-Fried spoke from behind bars, confidently claiming that his exchange had sufficient assets. Conversely, founders of HashFlare faced legal repercussions after admitting to a $577 million mining fraud scheme. The Department of Justice revealed charges in $65 million cryptocurrency platform breaches, shedding light on the vulnerability of digital asset platforms. An investigation also uncovered the extent of social engineering losses in Coinbase, a major player in the cryptocurrency market.

Price volatility continued to plague the cryptocurrency market, with Raydium experiencing a 27% drop following revelations about the Pump.fun platform. Dogecoin’s trading sentiment shifted as its price declined, reflecting the unpredictable nature of the market. On the other hand, Cardano’s network growth accelerated as its price tested resistance levels, indicating strong investor interest. Solana’s price saw uncertainty as network metrics sent mixed signals about market conditions.

Political and economic factors also had an impact on market movements, as cost-cutting measures by Trump and Elon Musk raised questions about DOGE’s ability to deliver on dividend promises. Economists forecasted a moderated hiring pace and steady unemployment in the January 2025 job report. Global currencies tumbled due to Trump’s tariffs driving a surge in the dollar, affecting international trade dynamics. Trump’s imposition of new tariffs triggered market declines and heightened tensions in international trade relations.

In other news, the combined jackpots of Powerball and Mega Millions exceeded $300 million in January, attracting widespread attention. Macau’s economy underwent significant changes as former judge Sam Hou Fai took control of the casino-dominated industry. Crown Melbourne faced a $2 million fine for self-exclusion violations, highlighting the importance of responsible gambling practices. The BGC released an international guide for online gambling regulation, aiming to create a framework for safe and fair gaming practices.

Lastly, Alphabet stock experienced fluctuations after Q4 cloud revenue fell short, leading to plans for a $75 billion capital expenditure in 2025. The creators’ community expressed concerns as TikTok faced a potential ban in January, with ByteDance rejecting sale offers. On a positive note, Alphabet Inc.’s stock received a boost from the success of the Willow Quantum Chip, resulting in the biggest daily gain since October. Xiaomi expanded its presence, reflecting the dynamic nature of the technology sector.