Mainstream Cryptocurrencies Experience Another Downturn, Exchange Funding Rates Turn Sharply Bearish
Evening of January 21 — Mainstream cryptocurrencies slid again, with Bitcoin briefly dropping more than 0.5% and moving closer to its previous lows. Ethereum fell over 1%, holding precariously above the $2,900 mark.
According to Coinglass data, current funding rates across centralized (CEX) and decentralized (DEX) exchanges reflect a market-wide bearish sentiment toward Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Notably, ETH and SOL funding rates on Binance have turned negative.
BlockBeats Note: The funding rate is a fee set by crypto trading platforms to align contract prices with the underlying asset’s price, typically applicable to perpetual contracts. It operates as a capital exchange mechanism between long and short traders — the platform does not collect this fee; instead, it adjusts the cost or profit for traders holding contracts to keep the contract price close to the underlying asset’s value.
A 0.01% funding rate is the baseline. Rates above 0.01% indicate a ge
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Vietnam Launches Cryptocurrency Exchange Licensing Pilot
On January 21, Vietnam’s Ministry of Finance issued a resolution this week launching a pilot program to officially license cryptocurrency exchanges—aiming to move the industry from a long-standing legal gray area into a regulated framework.
Per the resolution, the State Securities Commission will oversee issuing, modifying, and revoking operating licenses for crypto exchanges, and has released detailed application guidelines.
The program requires applicants to be Vietnamese local companies with at least 100 trillion Vietnamese dong (≈$3.8 billion) in charter capital, plus meeting strict standards for infrastructure, governance, cybersecurity, and professional staffing. Currently, around 10 securities firms and banks have signaled plans to enter the market once licensed.
(Source: Cryptonews)
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Dutch Cryptocurrency Platform Finst Raises €8 Million in Series A Funding Round Led by Endeit Capital
Jan 21st — Beincrypto reports Finst has closed an €8 million Series A funding round led by Endeit Capital. Existing investors Eelko van Kooten (Spinnin’ Records founder) and DEGIRO co-founder Mark Fransen also participated in the round.
This funding pushes Finst’s total capital raised to €15 million. Proceeds will support European market expansion, new product and service development (including broader collateral coverage, market-leading rates, expanded asset selection, and enhanced platform functionality), and additional product lines for institutional and professional users.
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Whale Trader "pension-usdt.eth" Trims BTC Long Position, Opens ETH Short Position
On January 21, Hyperinsight data indicates that a Binance whale address (pension-usdt.eth) cut its BTC long position and opened a 3x-leveraged ETH short position over the course of nearly an hour.
As of press time, the address continues to shift between long and short positions, currently holding:
- A 5x-leveraged BTC long position of 751.87 BTC
- A 3x-leveraged ETH short position of 10,065 ETH
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$3.7M Worth of AIA Transferred from Team Wallet, Potentially for Sale
January 21st — Per monitoring from onchainschool.pro, roughly 5 hours ago, $3.7 million worth of AIA tokens were transferred out of the project team’s wallet.
Subsequently, a portion of these tokens (valued at approximately $778,000) has been sent to a new wallet, likely in preparation for a sale. Analysis indicates that if these tokens are ultimately sold, the remaining tokens may also be distributed.
As of press time, AIA is trading at $0.255, with a market capitalization of $51.03 million. Binance launched AIAUSDT perpetual contracts yesterday.
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