Here’s a quick recap of the crypto landscape for Friday (January 2) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$89,036.29, up by 1.8 percent over 24 hours.
Bitcoin price performance, January 1, 2025.
Chart via TradingView
Ether (ETH) was priced at US$3,028.99, up by 2.3 percent over the last 24 hours.
Altcoin price update
- XRP (XRP) was priced at US$1.88, up by 2.5 percent over 24 hours.
- Solana (SOL) was trading at US$127.74, up by 2.8 percent over 24 hours.
Today’s crypto news to know
Bitcoin ETFs suffer worst two-month exodus on record
U.S.-listed spot Bitcoin ETFs closed 2025 with a combined US$4.57 billion in net outflows for November and December, marking their worst two-month stretch since launching in early 2024.
December alone saw US$1.09 billion pulled from the funds, following an even steeper $3.48 billion in November, according to SoSoValue data. The selloff also coincided with a roughly 20 percent drop in Bitcoin’s price.
Meanwhile, Ether ETFs were also swept up in the retreat, losing more than US$2 billion over the same period.
While the scale of redemptions appears severe, optimistic outlooks still persist. Some market participants say the flows reflect portfolio rebalancing rather than outright panic.
For instance, others note that weaker hands exited into year-end, while longer-term capital absorbed supply.
Turkmenistan moves to legalize crypto mining and exchanges
Turkmenistan has formally legalized cryptocurrency mining and exchanges after President Serdar Berdimuhamedov signed the Law on Virtual Assets into effect in late November.
The legislation establishes a legal framework for creating, trading, and holding digital assets as part of a broader push to stimulate economic growth and attract foreign investment.
Under the law, cryptocurrencies are classified as property rather than legal tender or securities and are divided into secured and unsecured assets, such as Bitcoin.
Further, mining is permitted for both individuals and companies, provided they register with the Central Bank of Turkmenistan and comply with technical standards.
The rules also explicitly ban illicit practices like cryptojacking and require licensed operations. Crypto exchanges and custodial services are also authorized, subject to central bank approval and strict KYC and anti-money-laundering requirements.
Tether expands Bitcoin, gold reserves with year-end purchase
Tether added 8,888 Bitcoin on New Year’s Eve, lifting its disclosed holdings to more than 96,000 BTC and placing the stablecoin issuer among the largest corporate holders globally.
CEO Paolo Ardoino said the purchase continues Tether’s policy of allocating up to 15 percent of quarterly earnings into Bitcoin, with the latest tranche valued at roughly US$780 million at the time of acquisition.
The accumulation makes Tether’s wallet the fifth-largest known Bitcoin address and the second-largest among private corporate treasuries.
Bitcoin remains only part of the firm’s reserve strategy, which also includes a sizable gold position. Tether bought 26 tons of gold in the third quarter, bringing its total holdings to 116 tons.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
