In today’s cryptocurrency landscape, several significant events have unfolded, impacting exchanges, regulatory discussions, and market offerings.
Phemex Suspends Withdrawals Following Suspicious Outflows
Phemex, a prominent cryptocurrency exchange, has temporarily halted withdrawals after detecting nearly $30 million in suspicious outflows. Blockchain security firm Cyvers reported that these transactions spanned multiple blockchains, including BNB, Polygon, Arbitrum, and Base. The firm identified 125 suspicious transactions across 11 blockchains, with some assets already swapped to Ethereum to evade potential freezing measures. In response, Phemex announced an emergency inspection to enhance wallet security.
House Democrats Call for Ethics Investigation into Trump’s Crypto Activities
Democratic Representative Gerald Connolly has urged the U.S. House Committee on Oversight and Government Reform to investigate former President Donald Trump’s involvement in cryptocurrency ventures. Connolly expressed concerns that Trump’s association with World Liberty Financial and the Official Trump memecoin could breach ethical standards and pose national security risks. He highlighted that World Liberty’s major investor is Tron founder Justin Sun, who faces securities fraud charges from the Securities and Exchange Commission.
CME Signals Potential Launch of XRP and SOL Futures
The Chicago Mercantile Exchange (CME) briefly listed information suggesting the introduction of futures contracts for XRP and Solana (SOL), potentially debuting as early as February 10, pending regulatory approval. The proposed contracts would be available in standard and micro sizes, with specific lot sizes designated for each. This move indicates CME’s ongoing efforts to expand its cryptocurrency derivatives offerings.
