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Jumat, 31 Januari 2025

๐Ÿ‘จ‍⚖️SBF’s parents seek pardon; why DeepSeek crashed your crypto

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Your Daily Digest of the ๐Ÿ”ฅHottest News in Crypto

Today's top stories:

๐Ÿ‘จ‍⚖️ SBF's parents seek pardon

๐Ÿ˜ž Why DeepSeek crashed your Bitcoin and crypto

๐ŸŽง Has President Donald Trump broken the wheel of crypto?

๐Ÿ“ฐ Keep reading to find out about all of today's top stories and more

SBF's parents seek pardon from President Trump: Report

The parents of former FTX CEO Sam "SBF" Bankman-Fried are reportedly exploring the possibility of a presidential pardon for their son, who was sentenced to 25 years in prison last March.

According to a Jan. 30 Bloomberg report citing anonymous sources, Bankman-Fried's parents have already met with lawyers and other figures close to the Trump administration to determine whether clemency was possible.

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Here's why DeepSeek crashed your Bitcoin and crypto

DeepSeek may have "nothing to do" with crypto, but its sudden entrance on the scene affected crypto prices.

The Bitcoin price dropped 6% on Jan. 27 when stock markets responded to the debut of China's open-source, highly efficient AI model that investor Marc Andreessen dubbed "AI's Sputnik moment."

DeepSeek spooked US markets on news that the model's developers were able to produce a worthy competitor to American AI firms like OpenAI at a fraction of the cost. The firm claims it was able to develop its AI model on a shoestring budget of just under $6 million using less advanced hardware from semiconductor manufacturer Nvidia.

[Cointelegraph Acceleration]

Telegram ecosystem is bigger than tap-to-earn: Interview with Storm Trade

Storm Trade breaks down tap-to-earn, learn-to-earn and new approaches to DeFi education.

ECB president 'confident' Bitcoin will not enter central bank reserves

European Central Bank President Christine Lagarde suggested the Czech National Bank was unlikely to approve of adopting Bitcoin as a reserve asset following a conversation with its governor.

Speaking to members of the press on Jan. 30, Lagarde said the European Council held the view that reserves of central banks have to be "liquid, secure and safe," implying that they would not include Bitcoin.

She added that she was "confident" that BTC would not enter the reserves of banks under the council.

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Has President Donald Trump broken the wheel of crypto?

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