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First up, Solana Mobile is at it again, launching a second smartphone – because the first time was just a warm-up, right? Then, over in the stablecoin universe, Tether's $95 billion question mark gets a nod of confidence from Cantor Fitzgerald's Howard Lutnick.

We're also peeking into the courtroom drama featuring former Terraform Labs CEO Do Hyeong Kwon – it's like 'Law & Order: Crypto Unit'. And for a bit of extra spice, Socket's recent $3.3 million 'oopsie' reminds us that even in crypto, things can get a tad slippery.

Markets

Grayscale, BlackRock and Fidelity dominate spot ETF market with nearly 90% of volume on third day of trading (3 minute read)
Looks like the Bitcoin ETF world has its own 'Big Three'! Grayscale, BlackRock, and Fidelity are practically hogging the spotlight in the spot ETF market, nabbing nearly 90% of the trading volume. It's only day three and they're already playing keep-away with the market share. Tuesday's trading wrapped up with a cool $1.8 billion in volume – not too shabby, although it's a bit shy of last Friday's dazzling $3 billion.

Solana-based Jupiter to launch token on Jan. 31 (2 minute read)
Jupiter, the big fish in Solana's decentralized exchange ocean, is making a splash with its own JUP token, set to dive into the market on January 31st, says the co-founder. This isn't just another token launch; they're also sprinkling a community airdrop, riding the wave of recent Solana ecosystem airdrops that fueled a late-2023 bull run. But even as Solana was basking in its moment, the limelight shifted to the shiny new approval of Bitcoin ETFs in the US last week, causing Solana's price to take a breather on its skyrocketing journey.

Manta’s TVL Exceeds BASE, Prepares for Huge 50 Million MANTA Token Airdrop (3 minute read)
Manta Network is swimming past Coinbase's Base network, snagging the title of the fourth largest Ethereum layer-two scaling solution. Launched just last September, this newcomer has already amassed an impressive $840 million in total value locked (TVL). But wait, there's more – Manta Network is making a splash with a massive 50 million MANTA tokens airdrop.

Tech

Socket protocol loses $3.3M in confirmed approval exploit (2 minute read)
Socket, the cross-chain protocol, has hit some choppy waters. According to a Jan. 16 social media post from the team, they've been exploited, and a whopping $3.3 million has been drained from contracts linked to them. In a quick move to stem the tide, Socket has put the brakes on all contracts to prevent any more losses.

Solana Mobile to Sell Second Crypto Smartphone (2 minute read)
Solana Mobile is doubling down on its tech adventure! Despite the rollercoaster ride with its first crypto-ready smartphone, they're gearing up to launch a second one, according to someone in the know. The new kid on the block will share the same DNA as its big sibling, the Saga – think onboard crypto wallet, tailored Android software, and a snazzy 'dApp store' for all those crypto apps. But here's the twist: it's going to be easier on the wallet and sport some different hardware.

Misc

Wall Street CEO on Tether Controversy: 'They Have the Money' (2 minute read)
Tether's massive $95 billion stablecoin is under the microscope, with folks wondering if it really has the assets to back up its USDT. But Howard Lutnick from Cantor Fitzgerald, the guys managing Tether's money, is stepping up to the plate. He's saying, 'Yes, we've got this.'

Trial for former Terraform Labs CEO Do Kwon pushed back to March (2 minute read)
Former Terraform Labs CEO Do Hyeong Kwon is in the hot seat. Charged by the Securities and Exchange Commission back in February over the dramatic collapse of Terra USD, an algorithmic stablecoin, he's now facing a jury trial on fraud claims. This courtroom showdown was initially set for January 29.

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