Scenius Sync (Issue #135)
The Czar’s DC Crypto Ball, Lummis To Lead Senate Crypto Subcommittee, Usual Faces Backlash, Tether Nabs DASP License & Will Move To El Salvador, Soneium Launches, & Moonpay Buys Helio For $175M
Scenius: The intelligence and the intuition of a whole cultural scene. The communal form of the concept of genius.
Welcome to The Scenius Sync.
Our mission with this concise publication is twofold:
Share the essential stories driving the crypto industry and markets.
Highlight innovative applications and mainstream adoption of crypto and blockchain technology.
If you find this newsletter valuable, please subscribe and share The Scenius Sync with your network 💪
Essential News 🗞
Crypto Czar David Sacks to host high-profile Crypto Ball in Washington DC this year.
The crypto world is once again in the spotlight as David Sacks, the newly appointed AI and Crypto Czar, prepares to host the first-ever Crypto Ball in Washington DC. This exclusive event promises to be a game-changer, bringing together top policymakers, crypto advocates, and industry giants in a way never seen before. With a high-profile VIP reception and sky-high ticket prices, all eyes are on this groundbreaking occasion. What’s at stake? A crypto-friendly future under the new administration, and the possibility of a major shift in Washington’s approach to digital assets.
Cynthia Lummis Tapped to Lead First-Ever Senate Crypto Subcommittee
Wyoming Senator Cynthia Lummis is reportedly being tapped to lead a new subcommittee focusing on digital assets. According to FOX Business, this would be an offshoot of the Senate Banking Committee. It has a new chairman in the form of South Carolina's Tim Scott, who has previously said "crypto has the potential to democratize the financial world." Such a subcommittee already exists in the larger House of Representatives, which is also undergoing a leadership change. On Thursday, it was announced that Wisconsin's Bryan Steil will chair the House Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence—with jurisdiction over crypto, stablecoins and CBDCs.
Red-Hot DeFi Platform Usual Faces Backlash as Protocol Update Triggers Sell-Off
An unexpected update to Usual Protocol's USD0++ redemption mechanism sent its staked stablecoin briefly below $0.90 and caused its governance token, USUAL, to plunge 17% before partially recovering. Critics said the new "dual-path exit" feature, which allows early unstaking at a discounted rate, undermines the $1 peg and disrupted DeFi pools, catching investors off-guard. The Usual team said the change was communicated in advance and apologized for insufficient clarity.
Messari lays off roughly 15% of staff amid industry-wide cuts, CEO Turner confirms
Cryptocurrency data site Messari has laid off approximately 15% of its staff, CEO Eric Turner told The Block in a direct message. We made some changes to our organizational structure earlier this week to streamline the business and double down on the growth we've seen across our core product lines,” Turner said. The company has seemingly not yet publicized the news. The 15% figure accounts for "full-time" employees impacted by the downsizing. A source familiar with the situation said the company also decided not to renew a number of contractors, which is a common practice at the beginning of the new year.
MicroStrategy Acquires 2,530 Bitcoin For $243M, Reaching 450,000 BTC In Total Holdings
MicroStrategy has expanded its Bitcoin holdings by purchasing an additional 2,530 bitcoins for approximately $243 million, averaging $95,972 per coin, according to an SEC filing. This acquisition was funded through the sale of 710,425 shares of the company’s class A common stock, conducted between January 6 and January 12, 2025, under a previously established Sales Agreement, the filing states. This marks MISTR’s 10th consecutive week of Bitcoin purchases.
Innovation & Adoption 💡📈
North Dakota Considers Crypto Reserve as State Bitcoin Treasuries Gain Momentum
North Dakota is the latest U.S. state to consider including Bitcoin in its balance sheets. On Friday, the North Dakota State Legislature introduced a resolution aimed at investing “select state funds in digital assets and precious metals.” Also Friday, legislation for a state Bitcoin reserve was introduced in New Hampshire, and while that proposed bill also didn’t mention Bitcoin by name, Bitcoin would be the only coin eligible for the New Hampshire reserve based on market cap stipulations.
Tether will relocate to El Salvador after securing DASP license
Tether and its subsidiaries are about to complete all formalities to relocate to El Salvador, following the successful acquisition of a Digital Asset Service Provider (DASP) license and as a stablecoin issuer, marking a step in Tether’s journey to foster global Bitcoin adoption. This strengthens Tether’s position in one of the world’s most forward-thinking markets and fosters the development and implementation of cutting-edge solutions more efficiently in a dynamic environment where innovation thrives. It underscores the company’s dedication to leveraging Bitcoin’s transformative potential as it drives growth in emerging markets.
MoonPay Buys Crypto Payment Processor Helio for $175M
MoonPay, a crypto infrastructure service provider, has bought Helio, a Solana-powered crypto payment processor. According to Fox Business, the deal is reportedly worth $175 million. The Miami-based company aims to expand its trading and marketplace volume using Helio's products. "This acquisition is an important step in advancing our vision for the future of payments,” said Ivan Soto-Wright, CEO and co-founder of MoonPay, in a statement. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces." Helio, a London-based startup, was launched in 2022 and enables businesses to process payments via digital currencies such as USDC, SOL, BTC and ETH, among others. Helio has already processed over $1.5 billion in transactions and has integrated with platforms including Discord, WooCommerce, and Shopify.
Sony’s public blockchain platform Soneium launches on mainnet
Sony Block Solutions Labs, the multinational conglomerate's blockchain subsidiary based in Singapore, announced today the mainnet launch of Soneium blockchain. Soneium's mainnet launch follows the Ethereum-based Layer 2's testnet debut in August last year, which has seen 15.4 million active wallet addresses and over 50 million total transactions to date. “Soneium is a public blockchain—an open network that welcomes everyone without limitations,” Sony BSL wrote in a press release. The network, developed by leveraging Optimism’s OP Stack and Superchain, aims to bridge the gap between Web2 and Web3 and create a platform that is more inclusive, accessible and creative.
Azuki-Linked ANIME Token Launching on Ethereum This Month
The Animecoin Foundation announced it will launch its culture coin, ANIME, on Ethereum and Arbitrum this month. Linked to popular NFT project Azuki, the Animecoin Foundation will issue a total of 10 billion ANIME tokens, nearly 77% of which will be circulating on day one. The Foundation aims to use the token launch to “transform the anime ecosystem into a community-owned creative economy,” better aligning incentives for creators and fans of the growing industry—which the Animecoin Foundation suggested could reach $60 billion in 2030.