Today's Top Crypto Headlines:

CFTC Chair Urges Crypto Rules | Virtuals Protocol Discord Hack | Musk Backs Pro-Bitcoin Poilievre and more...

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. CFTC Chair Urges Crypto Rules: Outgoing CFTC Chair Rostin Behnam called for tighter crypto regulations to address risks from digital assets in traditional finance.

  2. 📈Technical Analysis Masterclass - GALA’s current price action shows signs of potential upward momentum, supported by key technical indicators. Watch UseTheBitcoin’s latest Youtube video “GALA: Bullish Divergence Spotted!” to see a concise breakdown or join our Official Telegram Channel for more alpha!

  3. Virtuals Protocol Discord Hack: Virtuals Protocol's Discord was hacked, with scammers posting fake links due to a moderator's compromised key.

  4. 💡Feature of the Day - Musk Backs Pro-Bitcoin Poilievre: Canadian PM Trudeau resigned, and Pierre Poilievre, a pro-Bitcoin advocate, became the election frontrunner.


    All this and more in today’s headlines!

Earn $15 when your referral trades!

📰 News Highlights:

CFTC Chair Urges Crypto Guardrails [Source][Source][Source][Source]

Outgoing CFTC Chair Rostin Behnam has called for stronger crypto regulations, citing risks as digital assets integrate with traditional financial systems.

In a fireside chat at The Brookings Institution, Behnam warned of challenges for his successors if the regulatory gap remains unaddressed.

He emphasized the need to update the derivatives industry’s rules to tackle novel crypto products and activities.

Behnam, stepping down on Feb. 7, joins SEC Chair Gary Gensler, who also announced his departure.

 📈Technical Analysis Masterclass:

Key Observations

  • 100-Day Moving Average (MA):
    GALA is trading above this critical support level, which often signals bullish control. A slight dip to retest the 100-day MA is possible before upward momentum resumes.

  • Fair Value Gap (FVG):
    GALA is trading within an FVG zone, which is typically a consolidation or retracement area. Staying within this zone offers a safer environment for buyers.

  • RSI Bullish Divergence:
    The RSI is trending upward, signaling building momentum, while price remains flat—indicating a potential reversal to the upside.

Key Levels to Watch

  • Support Levels:

    • 100-Day MA: A break below this line could signal bearish momentum.

    • FVG Zone: Remaining within this range keeps the bullish setup intact.

  • Upside Potential:
    If the bullish divergence plays out, expect GALA to test higher resistance levels for profit opportunities.

🎁Freebie:

Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!

Virtuals Protocol Discord Breached [Source][Source][Source]

Virtuals Protocol suffered a Discord server hack on Jan. 8, with scammers posting fraudulent links mimicking the platform’s website.

The breach stemmed from a compromised moderator’s private key. Though resolved, the attack highlights the risks of phishing scams in the crypto space.

Scam Sniffer also flagged malicious links on Google Search impersonating the Virtuals Protocol site.

Phishing scams caused over $1 billion in crypto losses in 2024, according to CertiK’s year-end report.

Crypto tax reports in under 20 minutes!

Koinly calculates your cryptocurrency taxes and helps you reduce them for next year. Simple & Reliable.

  • Available in 20+ countries

  • Free report preview

  • Form 8949 & Schedule D

  • TurboTax & TaxAct

  • HMRC / ATO / CRA Report

💡 Feature of the Day: 

Musk, Crypto Leaders Back Poilievre [Source][Source][Source]

Canadian PM Justin Trudeau resigned on Jan. 7, making Conservative leader Pierre Poilievre the frontrunner for the Oct. 20 election.

Poilievre, a pro-Bitcoin advocate, has garnered widespread crypto industry support.

Elon Musk praised Poilievre’s stance on inflation, while Coinbase CEO Brian Armstrong echoed approval.

Poilievre has proposed a national Bitcoin reserve to bolster economic stability.

During his campaign, Poilievre promoted Bitcoin adoption and criticized central bank digital currencies.

Today’s Sponsor:

This week we have partnered with Gemini.

Gemini is crypto-obsessed and compliance-focused, making it safe and easy to buy and sell crypto.

Over $200 billion USD in volume traded.

Join the movement today with Gemini.

😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

Buy, sell, store, and convert crypto with today’s sponsor Gemini, full-reserve and highly-regulated cryptocurrency exchange and custodian!

See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com