GameStop CEO Plans Major Merger to Drive Company's Market Cap to $100 Billion

On Jan. 30, Bitcoin rebounded to break above $83,000, with its 24-hour drop narrowing to 5.60%, per HTX market data.

On January 30, Binance announced it will gradually convert its $1 billion stablecoin reserve into Bitcoin, with the conversion set to finish within 30 days. If the market value of the converted assets falls below $800 million due to volatility, Binance will replenish BTC to restore the reserve’s value to $1 billion.

**Binance China Issues Open Letter to Crypto Community Amid Market Concerns** On January 30, Binance China released an "Open Letter to the Crypto Community" addressing recent market and community concerns. The platform stated that as it scales, industry fluctuations impact its performance—and it will uphold higher standards, enhancing governance, risk control, and transparency. Key highlights: - **Asset Recovery**: Helped users recover 38,648 mis-deposited assets valued at $48 million in 2025; cumulative recovery exceeds $1.09 billion. - **Risk Control**: Assisted 5.4 million users in risk identification annually, preventing ~$6.69 billion in fraud losses. - **Law Enforcement Collaboration**: Partnered with global law enforcement to combat $131 million in illicit activity. - **Listings & Ecosystem**: By 2025, spot listings cover 21 public chains (focus on ETH, BSC, SOL); 13 new public chains onboarded. - **Asset Transparency**: As of end-2025, reserve proof covers ~$162

On January 30th, data from the Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN) shows that the "ETH Bear Whale" (address 0x20c) has amassed over $11 million in floating profits while continuously shorting ETH, with a return on investment (ROI) of 345%. The address has earned approximately $6.3 million in the past 24 hours, and its total historical profits exceed $80 million—with its maximum drawdown consistently remaining below 20%. Currently, it holds a 25x leveraged ETH short position valued at around $84 million, with an entry price of $3,117, a liquidation price of $3,674, and a current floating profit of roughly $11.5 million. Beyond gains from price fluctuations, it has also accumulated approximately $6.9 million in profits from funding rates. As one of the active on-chain ETH bears, this whale frequently adjusts its positions and leverage via intraday scalping, demonstrating a flexible trading style. Of its $80 million in total profits, nearly $50 million

Jan. 30 — Reuters, citing people familiar with the matter, reports that Elon Musk is pushing for a stock-swap merger between SpaceX and xAI to prep for SpaceX’s planned high-profile initial public offering (IPO). The deal is not yet finalized, but Musk has established a merger entity in Nevada, signaling the integration has entered a substantive stage. Upon completion, the merger would deeply integrate SpaceX’s rockets and space infrastructure with xAI’s Grok large language model (LLM) and data from the X platform, creating a unified "Space + AI" commercial ecosystem. Per latest valuations, SpaceX is valued at roughly $800 billion, xAI at approximately $230 billion—putting the combined post-merger valuation on track to reach $1.5 trillion.

On January 30, per HyperInsight monitoring, the "Lightning Backhand" whale wallet (address: 0x50b30) closed its 466.08 BTC short position one hour ago, netting a $103,000 profit. The address currently holds no open positions and is in wait-and-see mode. This wallet is known for rapid long-short position switches, often executing large-scale reverse position adjustments immediately after liquidating positions.