## German Authorities Take Action Against Crypto ATMs

German authorities have made a significant move in the fight against unregulated cryptocurrency activities by seizing **almost €25 million ($28 million)** in cash during a nationwide operation targeting cryptocurrency ATMs. The operation was announced by the country's financial regulator, **BaFin**, in a statement released on Tuesday.

### Details of the Operation

The crackdown resulted in the seizure of **13 cryptocurrency ATMs** that were found to be operating without the necessary permits. These machines posed a **risk of money laundering** and were trading **Bitcoin** and other cryptocurrencies across **35 different locations** in Germany.

BaFin collaborated closely with law enforcement agencies and the **German Bundesbank** to execute this operation effectively. 

*Note: The seized amount has been corrected to reflect **$28 million**, rather than the previously mentioned **$25 million**.*

German authorities have seized almost 25 million euros ($28 million) in cash in a nationwide operation targeting cryptocurrency ATMs, the country's financial regulator BaFin said in a statement on Tuesday.  BaFin worked together with law enforcement and the German Bundesbank to conduct the operation.

Germany's Massive Crypto ATM Crackdown: $28 Million Seized in Nationwide Operation

The crypto market is currently **deep in the red** ahead of Donald Trump’s inauguration, influenced by an **unexpected jobs report** and fears of **higher-than-expected inflation data**. This situation highlights the growing **interconnection** between the crypto market and broader macroeconomic trends.

### Cryptocurrencies to Watch

Here’s a closer look at the cryptocurrencies that are capturing attention this week:

#### Bitcoin (BTC)
Bitcoin has seen a **drop of over 9%** in the past week, trading at **$90,303**. The market is bracing for increased volatility as Trump prepares for his inauguration, with speculation surrounding potential **favorable policies for crypto miners**.

![Bitcoin](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/21216b4e9d998690a33858235e380fae.jpg)
*Illustration: Chesnot (Getty Images)*

#### Ether (ETH)
Ether, the second-largest cryptocurrency, has underperformed Bitcoin, posting a **17% loss** over the past week, now at **$3,037**. The decline is attributed to a **sustained outflow from Ether exchange-traded funds (ETFs)**.

![Ether](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/851a541188a1997f04c836300c99d3ec.jpg)
*Illustration: Dan Kitwood (Getty Images)*

#### XRP
XRP is under the spotlight as Ripple faces a pivotal hearing on January 15 regarding its legal battle with the **U.S. Securities and Exchange Commission (SEC)**. Currently, XRP is trading at **$2.45**, with a slight increase of **0.74%** over the week.

![XRP](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/cb16ac2c2166251d60f19049b7e3fefd.jpg)
*Illustration: INA FASSBENDER (Getty Images)*

#### Dogecoin (DOGE)
Dogecoin is also in focus, trading at **$0.32** with a **17% weekly decline**. Speculation about potential price swings is fueled by Elon Musk's close ties to Trump.

![Dogecoin](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/58283c555db5f5c77ecad1105bb935d7.jpg)
*Illustration: Chesnot (Getty Images)*

#### Bitget Token (BGB)
In contrast, **Bitget Token (BGB)** is on the rise, trading at **$6.6** with a **5.8% increase** this week. This growth is linked to Bitget introducing **Solana limit order functionality** and burning **40% of its circulating tokens**, reducing supply and potentially increasing value.

![Bitget Token](https://i.kinja-img.com/image/upload/c_fit,q_60,w_645/3ed7a16a14bf12559f6912cd77bc1cf5.jpg)
*Image: SOPA Images (Getty Images)*

The crypto market is in the deep red ahead of Donald Trump's inauguration

This Week's Crypto Watch: Bitcoin, XRP, Dogecoin & More Amid Market Turmoil

### A Pastor's Dream Turns into a Nightmare
A Miami pastor, **Francier Obando Pinillo**, has been indicted on **26 counts of fraud** for allegedly running a cryptocurrency scam that defrauded unsuspecting investors out of millions between late **2021 and 2023**. Pinillo, who led a Spanish-speaking church in **Pasco, Washington**, reportedly claimed that his investment scheme, dubbed **"Solano Fi"**, was inspired by a divine dream.

Pinillo's scam was heavily marketed through social media and his church's pulpit, promising investors a **miraculous 34.9% monthly return** with no risk, thanks to a process called **cryptocurrency staking**. However, the indictment reveals that the only miracle was how quickly investors' funds disappeared into accounts controlled by Pinillo and his accomplices.

When investors sought to withdraw their funds, they were met with a series of excuses, including claims that **"crypto markets stink today"** and demands to bring in new investors to cash out their accounts. Additionally, Pinillo purportedly charged **"repair" fees** to maintain the investment system.

U.S. Attorney **Vanessa Waldref** highlighted the challenges of cryptocurrency scams, noting that fraudsters often move funds to international accounts, complicating recovery efforts for victims. If convicted, Pinillo faces up to **20 years in prison**.

### Bitcoin Hard Drive Recovery Attempt Fails
In a separate story, **James Howells** from Newport, Wales, faced disappointment when a judge dismissed his lawsuit to excavate a landfill site in search of a hard drive he believes contains **Bitcoin worth approximately £598 million ($725 million)**. Howells claims the drive was accidentally thrown away in **2013** and has been battling the Newport City Council for access to the site. The judge ruled there were no reasonable grounds for the claim, leaving Howells feeling frustrated and without recourse. He is now contemplating launching his own cryptocurrency as a new venture.

Plus: Man who tossed Bitcoin drive worth millions barred from digging in dump

Pastor Indicted for Alleged $26 Million Cryptocurrency Scam Inspired by a 'Dream'

### Cryptocurrency Market under Trump

As the United States gears up for **Donald Trump’s inauguration** on January 20, all eyes are on the **cryptocurrency markets**. Following **Bitcoin’s historic price surge** to $100,000 in December 2024, the cryptocurrency community is buzzing with anticipation about Trump’s promise to establish the US as the **“crypto capital of the planet.”** Analysts predict Bitcoin’s price could soar between **$78,000 and $250,000 in 2025**.

### The Allure of Speculative Investments

While **blockchain technology** offers vast applications beyond crypto payments, the **price surges** of Bitcoin, Ethereum, and various **meme coins** dominate public attention. Investors are often driven by the prospect of **short-term profits** rather than the asset’s underlying value. Meme coins, heavily influenced by **social media culture**, often lack substantial utility, leading to highly speculative investments.

### Institutional Interest and Regulatory Changes

With expectations for a **more favorable regulatory environment** under the Trump administration, institutional interest in cryptocurrencies is rising. Major players like **BlackRock** are diving into the crypto derivatives market, enhancing liquidity and attracting more investors. However, this speculative nature raises concerns about potential **market bubbles**, reminiscent of the dotcom era.

### Risks of Financial Contagion

Financial bubbles can lead to significant market collapses, triggering a **contagion effect** across various sectors. Recent events like the **Terra Luna** and **FTX collapses** highlight the interconnected vulnerabilities between cryptocurrencies and traditional finance, as seen with **Silicon Valley Bank’s** bankruptcy in 2023. The collapse of major crypto firms can have far-reaching impacts on traditional markets, with investors facing swift sell-offs at the first sign of trouble.

### The Role of Influencers in Crypto Promotion

Influential figures like **Elon Musk** have significantly impacted meme coin prices, often leading to **pump-and-dump schemes**. The **SEC** has initiated investigations into celebrities promoting cryptocurrencies without disclosing their financial interests. As the regulatory landscape shifts, the crypto community is concerned about the potential for increased market manipulation and a lack of consumer protection.

### A Step Back in Financial Freedom

While easing regulations might seem beneficial for **crypto asset prices**, it could ultimately hinder the pursuit of **transparency and accountability** in the financial sector. Strong political endorsements of crypto could undermine its **decentralized ethos**, leaving investors vulnerable to financial losses.

In 2025, the crypto market is poised to go mainstream, but investors should remain cautious of the inherent risks and challenges that lie ahead.  

*Larisa Yarovaya is an associate professor of finance and director of the Centre for Digital Finance at Southampton Business School.*

His easing of regulations could leave many unprotected from financial manipulation, misconduct and bursting bubbles, says Larisa Yarovaya, an associate professor of finance

Cryptocurrency's Mainstream Surge Under Trump: A Double-Edged Sword for Investors

### MicroStrategy's Bitcoin Accumulation Continues

Michael Saylor's **MicroStrategy (MSTR)** has made headlines again by increasing its **bitcoin (BTC)** holdings for the **tenth consecutive week**. In the week ending January 12, **MicroStrategy purchased 2,530 BTC for $243 million**, bringing its total holdings to an impressive **450,000 BTC**. The average price of this latest acquisition was **$95,972**, while the overall average purchase price for the company's holdings now stands at **$62,691**.

### Market Reactions

Despite these significant purchases, shares of MicroStrategy are down nearly **5%** in premarket trading, coinciding with a similar dip in the price of bitcoin, which is currently hovering just above **$90,000**.

### Additional Acquisitions by Semler Scientific

In related news, **Semler Scientific (SMLR)** has also expanded its bitcoin portfolio, acquiring an additional **237 BTC for $23.3 million**. This purchase was made using proceeds from an **at-the-market (ATM)** offering and operating cash flow, with an average buy price of **$98,267**. Semler now holds a total of **2,321 BTC**, with an aggregate investment of **$191.9 million** and an average purchase price of **$82,867**. Shares of Semler have seen a decline of almost **7%** in premarket trading.

### Analyst's Note

**Disclaimer:** The author, James Van Straten, is a senior analyst at CoinDesk and holds shares in MicroStrategy and Semler Scientific. 

![James Van Straten](https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2Ff36b57a149322aa0611866fd05406f32ee68421f-512x512.png%3Fw%3D64%26h%3D64%26fit%3Dcrop%26crop%3Dfocalpoint%26auto%3Dformat&w=1080&q=75&dpl=dpl_8sUDf8q1fC1hKygj83X2Zug7BKAF)

The Michael Saylor-led company added to its bitcoin stack for the 10th consecutive week.

MicroStrategy's Bold Bitcoin Acquisition: 2,530 BTC Added in a Record Streak!

### BTC Update
Between **December 16, 2024** and **January 10, 2025**, Semler Scientific acquired **237 bitcoins** for **$23.3 million** at an average price of **$98,267** per bitcoin, inclusive of fees and expenses. This brings their total holdings to **2,321 bitcoins**, purchased for an aggregate of **$191.9 million** at an average price of **$82,687** per bitcoin.

### ATM Update
Semler Scientific has been actively utilizing an **ATM offering** with Cantor Fitzgerald, increasing their total offering to **$150.0 million**. As of January 10, 2025, they have raised approximately **$121.8 million** in gross proceeds from this initiative.

### BTC Yield as a Key Performance Indicator (KPI)
From **October 1, 2024** to **January 10, 2025**, the company's **BTC Yield** was an impressive **72.6%**. Following their treasury strategy initiated in mid-2024, the yield from **July 1, 2024** to **January 10, 2025** reached **99.3%**. This KPI helps Semler assess the performance of its bitcoin acquisition strategy, which aims to be beneficial for stockholders.

### Important Information about BTC Yield KPI
**BTC Yield** measures the percentage change period-to-period of the ratio between Semler's bitcoin holdings and its **Assumed Diluted Shares Outstanding**. The company has emphasized that this KPI should not be confused with traditional financial performance metrics, as it does not represent a return on investment or income generated from operations.

### Forward-Looking Statements
This announcement contains forward-looking statements about Semler's strategy regarding bitcoin and its ATM offerings. Risks include market volatility and the company's ability to generate cash from operations.

### About Semler Scientific, Inc.
Semler Scientific is dedicated to developing technology products for healthcare providers, with a focus on combating chronic diseases. They have adopted bitcoin as their primary treasury asset, showcasing a commitment to integrating cryptocurrency into their financial strategy.

Semler Scientific acquires 237 bitcoins at $98,267 average price, bringing total holdings to 2,321 BTC. Company raises $121.8M through expanded ATM offering with Cantor Fitzgerald.

Semler Scientific Boosts Bitcoin Portfolio to 2,321 BTC with $23.3M Investment: What You Need to Know!

### RBC iShares Expands Access to BlackRock’s Bitcoin ETP Platform

TORONTO, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, **RBC iShares** has expanded access to **BlackRock’s digital asset investment platform** with the launch of the **iShares Bitcoin ETF (IBIT)** in Canada. The iShares Fund aims to reflect the performance of the price of **bitcoin**, minus its expenses and liabilities. An additional **U.S.-dollar denominated class (IBIT.U)** will also be available.

The iShares Fund invests in the U.S.-listed **iShares Bitcoin Trust ETF (U.S. IBIT)**, which is recognized as the world’s largest **spot bitcoin exchange-traded product**. U.S. IBIT is managed by **BlackRock**, the largest asset manager globally, utilizing a multi-year technology integration developed with **Coinbase Prime**, the largest institutional **digital asset custodian**.

By holding **U.S. IBIT**, the iShares Bitcoin ETF is supported by the same **institutional-grade technology** and **risk management expertise** that powers over **1,400 ETFs** globally. The launch of the iShares Bitcoin ETF is a significant milestone in the firm’s **digital assets program**, providing Canadian investors with innovative access to bitcoin.

Helen Hayes, Head of iShares Canada at BlackRock, stated, “The launch of the iShares Bitcoin ETF in Canada underscores BlackRock’s commitment to **innovation** and providing clients access to an expanding world of investments. The iShares Fund offers Canadian investors a **convenient** and **cost-effective** way to gain exposure to bitcoin, alleviating the operational complexities of holding bitcoin directly.”

The iShares Fund has completed its initial offering of units, which will be listed on **Cboe Canada** when markets open today. The Fund will be managed by **BlackRock Asset Management Canada Limited**.

| **Fund Name**         | **Ticker**       | **Management Fee** | **Listing Date**      |
|-----------------------|------------------|---------------------|-----------------------|
| iShares Bitcoin ETF   | IBIT, IBIT.U     | 0.32%               | January 13, 2025      |

RBC iShares aims to empower clients in achieving their investment objectives, building efficient portfolios, and taking control of their financial futures. They are dedicated to delivering a differentiated ETF experience and positive outcomes for clients.

TORONTO, Jan.  13, 2025  (GLOBE NEWSWIRE) -- Today, RBC iShares expands access to BlackRock’s digital asset investment platform with the launch of the...

RBC iShares Launches Groundbreaking Bitcoin ETF in Canada!

### A Promising Year for Crypto ETFs

2025 is shaping up to be a **significant year** for cryptocurrency exchange-traded funds (ETFs), as highlighted by **Laser Digital**, the digital asset subsidiary of the financial services giant **Nomura**. According to a recent report, more than **twelve new crypto ETFs** could potentially launch in the U.S. this year, pending approval from the **Securities and Exchange Commission (SEC)**.

### The SEC Filings

As of now, asset managers have submitted **12 filings** to the SEC, which include exciting potential products like a **ProShares ETF** that tracks the S&P 500's return in Bitcoin, as well as combined Bitcoin/Ether ETFs and products based on **Litecoin, XRP, and Solana**.

**Laser Digital** anticipates that the **Bitcoin/Ether ETF** will likely be the first to receive approval, paving the way for further developments in the crypto ETF landscape.

### Previous Successes

The launch of **spot Bitcoin ETFs** in the U.S. last January was a remarkable success, with **Blackrock's iShares Bitcoin Trust (IBIT)** gathering approximately **$53 billion** in assets under management within its first 11 months, outpacing all prior ETF launches.

### Regulatory Changes and Future Outlook

With the recent appointment of **Paul Atkins** as the new SEC chairman and the exit of **Gary Gensler**, the environment for crypto regulation is changing. This shift is expected to lead to a decrease in ongoing lawsuits against crypto companies, enhancing the likelihood of approval for new ETFs.

**Laser Digital** projects that the ETF market will continue to grow in terms of **assets under management (AUM)** and will see broader adoption among **institutional investors** in 2025, especially with **Donald Trump** returning to office alongside a supportive regulatory team.

### Grayscale's Moves

In related news, asset manager **Grayscale** is looking to convert its **Grayscale Solana Trust (GSOL)** into an ETF by December, indicating a broader trend towards ETF adoption in the crypto space.

**Read more:** [Grayscale Files to Convert Solana Trust Into ETF](https://www.coindesk.com/markets/2024/12/03/grayscale-files-to-convert-solana-trust-into-etf-filing)

More than 12 new digital asset ETFs could be launched in the U.S. this year, if approved by the SEC, the report said.

Germany's Massive Crypto ATM Crackdown: $28 Million Seized in Nationwide Operation

Summary:

German Authorities Take Action Against Crypto ATMs

Details of the Operation

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Semler Scientific Boosts Bitcoin Portfolio to 2,321 BTC with $23.3M Investment: What You Need to Know!

RBC iShares Launches Groundbreaking Bitcoin ETF in Canada!

2025: The Year Crypto ETFs Could Transform the Market