This week has been a whirlwind for Bitcoin (BTC) and the crypto world. After hitting a record high, Bitcoin’s value took a dive following comments from Federal Reserve Chair Jerome Powell, who raised concerns about inflation and hinted at only two rate cuts in 2025. Let’s break down what happened across Bitcoin, tech, business, and Web3 this week.

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**Bitcoin (BTC)**

Bitcoin’s rollercoaster week started with big news. President-elect Donald Trump has announced plans to sign an executive order to establish a Bitcoin reserve on his first day in office. This bold move has sparked debates about how it might impact Bitcoin’s famous four-year boom-and-bust cycle.

Meanwhile, El Salvador remains bullish on Bitcoin. Despite agreeing to tweak its Bitcoin policies to secure a $1.4 billion loan from the IMF, the country has pledged to keep adding BTC to its reserves.

On Monday, Bitcoin soared to an all-time high of $106,500, fueling hopes that the current bull market would keep going strong. However, warning signs of an overbought market suggested a correction was likely. By midweek, Bitcoin tumbled nearly 6% after Powell’s comments at the FOMC meeting, which left crypto markets reeling.

Adding to the conversation, Powell clarified that the Federal Reserve is prohibited from owning Bitcoin and has no plans to help establish any form of Bitcoin reserve.

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**Technology**

Kraken surprised everyone by launching its Layer2 blockchain, Ink, earlier than expected. Initially slated for 2025, Ink went live this week thanks to strong developer enthusiasm and community support. Built using Optimism’s OP Stack, this launch marks a big step forward for blockchain tech.

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**Business**

Riot Platforms, a leading Bitcoin mining company, made waves by purchasing $510 million worth of BTC in just two days. This massive buy brings the company’s total Bitcoin holdings to almost $1.7 billion, solidifying its position as a major player in the industry.

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**Web3**

Binance unveiled its new Binance Alpha platform to spotlight promising blockchain projects for 2025. This initiative aims to shape the future of Web3 innovation.

In gaming, Pixelverse teamed up with popular meme coins to bring meme-inspired games to life on the Base Network. This partnership will combine gaming with crypto culture.

Cloud services provider io.net joined forces with Dell Technologies through a new partnership aimed at delivering scalable and affordable cloud solutions. The collaboration also expands io.net’s reach into Web2 partnerships.

MetaMask has integrated support for the EOS Network, making it easier for millions of users to interact with EOS without needing any changes to their wallets.

Fraction AI is changing how data labeling works by blending AI efficiency with human insights. Backed by $6 million in pre-seed funding from investors like Near’s Illia Polosukhin and Polygon’s Sandeep Nailwal, the company is pushing boundaries in AI-driven solutions.

For those wondering how to cash out their crypto, there are plenty of options—crypto exchanges, peer-to-peer platforms, and on/off ramps are just a few ways to convert digital assets into fiat currency.

Zoth and Singularity Finance launched Zoth Tokenized Liquid Notes Prime (ZTLN-P), a DeFi product tailored for institutional investors.

AI meme coin TURBO partnered with Aurora Labs and NEAR Protocol to create TurboChain, a new blockchain platform. They also plan to launch TurboSwap, a portal designed to make buying and selling crypto easier.

Io.net teamed up with AI agent provider Zerebro to power Ethereum validator operations using io.net’s GPU network.

OpenLedger joined forces with Ether.Fi to improve network security and scalability through Ether.Fi’s $6 billion total value locked (TVL).

Ape Terminal announced the upcoming launch of EARN’M—a new platform connected to over $1.7 billion in assets and half a million active accounts.

Deploying smart contracts can be tricky even for seasoned developers, but simplifying this process is crucial for driving innovation in decentralized AI. Decentralized AI frameworks are paving the way for more accessible and inclusive contributions to the AI industry.

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**Security**

Crypto theft reached staggering heights last year. North Korean hackers stole over $1.4 billion worth of crypto in 2024—double their haul from 2023. This puts North Korea at the center of global crypto thefts, accounting for 61% of the total $2.2 billion stolen worldwide.

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**Regulation**

Crypto.com has dropped its lawsuit against the SEC after its CEO Kris Marszalek held discussions with President-elect Donald Trump. This development could signal a turning point in regulatory relations for the crypto industry.

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From exciting blockchain launches to turbulent market shifts and groundbreaking partnerships, this week showcased the fast-paced evolution of crypto and Web3. Stay tuned as these developments continue to shape the future of technology and finance!