Crypto News Roundup: FTX Claims, Airdrops, and Meme Coins

The start of a new year is always exciting, and this year, we’re ready to lock in and make it great! We’re following all the latest crypto developments, airdrop claims, and trends to keep you informed. Right now, AI agents are gaining traction, and the FTX claims is just one of many hot topics. Let’s dive into the biggest crypto news of the week!

1) Elon Musk’s Name Change Sparks Meme Coin Surge

On January 1st, Elon Musk caused a stir in the crypto world with a temporary name change on his X account. He switched his handle to “Kekius Maximus”, referencing the famous Pepe the Frog meme and the character Maximus from the film Gladiator. This unexpected move sent Kekius Maximus (KEKIUS), an Ethereum-based meme coin, into a market frenzy.

The coin saw its market cap soar from $11.4 million to an incredible $380 million in just a matter of days. A lucky trader, who invested $66 in Ether at the start of the surge, turned that into nearly $3 million over 18 days.

However, after Musk reverted to his original name, the market cap of KEKIUS dropped to around $100.5 million. Despite this, over 23,600 investors are still holding on to their tokens. Musk’s playful involvement with the meme coin was further amplified by posts featuring AI-generated images of a Pepe-inspired character battling in Rome’s Colosseum. His posts gained massive attention, with one post alone attracting 48.2 million views.

This change in PFP also sparked a surge in $PEPE which saw approximately a 15% increase that day.

2) FTX Begins Repaying Customers

In a positive development for former FTX customers, repayments will begin today. The first group to receive funds will be those with claims of $50,000 or less. The repayments are scheduled to start within 60 days of the January 3, 2025 effective date.

The recovery plan is designed to provide 119% of the account values for the majority of customers, although some users may feel the sting of missing out on massive gains since FTX’s collapse in 2022. To assist with the distribution, Kraken and BitGo will be helping with the process. FTX customers can expect more details as the repayment process unfolds, with larger claims to follow in subsequent groups.

3) Do Kwon Appears in US Court After Extradition from Montenegro

After more than 18 months of legal battles, Do Kwon, the co-founder of Terraform Labs, has made his first appearance in a U.S. court. This marks a major milestone in the long-running saga surrounding Kwon’s extradition from Montenegro.

Kwon is facing charges related to the collapse of TerraUSD (UST) and LUNA, which resulted in billions of dollars in losses for investors. His court appearance is seen as a critical step in the ongoing legal drama, which has drawn significant attention in the crypto community.

In other news, check the EU regulations surrounding Tether (USDT)

4) Grayscale Adds Six New Crypto Tokens to Its Top 20 List for 2025

Grayscale Investments, one of the largest digital asset managers, has announced the addition of six new tokens to its curated list of Top 20 Coins for 2025. Funny enough we covered this entire list in our trading content. These tokens are considered to have high potential for growth in the coming year.

The new additions are:

• Hyperliquid (HYPE)
• Ethena (ENA)
• Virtuals Protocol (VIRTUAL)
• Jupiter (JUP)
• Jito (JTO)
• Grass (GRASS)

These tokens were selected based on a thorough analysis by Grayscale’s research team. They will be included in the FTSE/Grayscale Crypto Sector Indexes, which track top-performing digital assets. As the market continues to evolve, these new tokens could offer exciting opportunities for investors looking to diversify their portfolios.

5) KRAIN AI Sets TGE Date

For those following KRAIN AI, mark your calendars for January 27th, as the project is set to hold its Token Generation Event (TGE). This date is a significant one for the team, and it’s not too late to get involved with the KRAIN AI airdrop before the TGE. If you want to make sure you don’t miss out, check out the details in the Krain AI airdrop guide.

AI-based projects like KRAIN AI are increasingly gaining attention in the crypto space, and this TGE could be a game-changer for investors looking to get in early.

Wrapping Up the Week

It’s been an eventful start to the year in the crypto world. The FTX claims are on everyone’s mind, and meme coins, like Kekius Maximus, are making waves once again. Meanwhile, major developments like Do Kwon’s court appearance, and Grayscale’s new token additions are shaping the market in significant ways. Plus, the upcoming KRAIN AI TGE is sure to bring more excitement.

As we move forward into 2025, we’ll continue to follow these trends and keep you updated with all the important news. Let’s make this year a great one for crypto!

Stay tuned for more updates, and enjoy the ride! 🚀

If you enjoyed this blog, you may want to check our other crypto news updates.

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