[PRESS RELEASE – Victoria, Seychelles, January 24th, 2025]

On January 23, 2025, BYDFi, a global crypto exchange, announced the launch of the VINE/USDT spot trading pair. Within the first 24 hours of trading, the VINE token recorded significant activity, reaching a temporary market capitalization of $400 million before stabilizing. While it has since experienced a slight decline, its trading volume continues to rise, currently reaching $1.37 billion, securing a spot among the most traded assets on the Solana blockchain. On-chain data indicates activity among new wallet addresses, with some reporting unrealized gains exceeding $1 million.

The $VINE token was launched by its founder, Rus Yusupov, marking the first major tech company founder to issue a cryptocurrency after the Trump Coin craze. Its core mission is to disrupt the traditional centralized economic model by introducing a decentralized ecosystem aimed at transforming content creation and monetization. The token’s potential lies in giving creators direct ownership and control over their content, creating a more transparent and fair platform compared to centralized alternatives. As of this writing, the $VINE token price is $0.25, up by 1697.34% in the last 48 hours. Eight hours ago, a tweet from founder Rus Yusupov on X led to a 39.37% increase in VINE’s trading volume.

Currently, BYDFi supports VINE/USDT spot trading with a minimum trade amount of just $10. The platform has also launched several other popular tokens, including SONIC/USDT, AIOS/USDT, and BUZZ/USDT. Additionally, BYDFi is offering new users a welcome bonus of up to 8100 USDT. Users can claim this reward by completing simple tasks. For more details, users can refer to the BYDFi website.

About VINE

VINE, the platform that gave rise to the token, was established in 2012 and quickly gained 200 million users with its innovative 10-second video format. It was later acquired by Twitter, leading to the platform’s shutdown. For U.S. users, Vine was not only a short video platform but also a pioneering force behind individual content creation and the rapid spread of consumer culture. On January 19, 2025, Elon Musk mentioned in a public reply that X (formerly Twitter) was considering bringing Vine back, sparking renewed excitement and anticipation for the Vine brand.

About BYDFi

Founded in 2020, BYDFi is a Forbes-certified top 10 global crypto exchange with more than 1,000,000 loyal users worldwide. The platform has earned multiple MSB (Money Services Business) licenses across various countries and regions. Further, it joined an alliance of South Korea’s CODE VASP to further solidify its position among the leaders across the world’s crypto landscape. To ensure security and transparency, BYDFi follows strict asset management protocols. All user assets are stored in offline multi-signature wallets, with at least a 1:1 reserve ratio. BYDFi regularly publishes proof-of-reserves(POR) reports, ensuring that users’ funds are always in a verifiable and secure status.

In addition to offering more than 600 coins spot trading pairs, BYDFi supports perpetual contracts with up to 200x leverage to cater to the diverse investment needs of its users. The platform also allows fiat deposits from over 150 countries, supporting payment methods like Visa, MasterCard, Google Pay, and Apple Pay to ensure seamless access for users around the world. BYDFi, with its low trading fee structure reducing trading costs, is committed to ensuring world-class crypto trading for users worldwide.

• Website: https://www.bydfi.com
• Support Email: CS@bydfi.com
• Business Partnerships: BD@bydfi.com
• Media Inquiries: media@bydfi.com

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TL;DR

What Might Come Next?

Gary Gensler’s tenure at the US Securities and Exchange Commission (SEC) might be over, but the lawsuit against Ripple remains ongoing. The former Chairman resigned on January 20 (the day Donald Trump officially became America’s 47th President) and was replaced by Mark Uyeda.

Gensler was considered an enemy of the cryptocurrency industry, while his successor stands in the opposite corner. Last year, Uyeda criticized the SEC’s previous leadership for its negative stance on the sector:

“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm.”

The XRP Army has interpreted the changes as a positive factor that could lead to a faster and potentially favorable resolution in the Ripple case. Most recently, John Deaton (an American lawyer representing thousands of XRP investors in the lawsuit) also gave his two cents.

He believes there are now three possible scenarios. The first involves continuing the SEC’s appeal. The securities regulator opposed a verdict from 2023 when Judge Torres ruled that XRP sales on public exchanges to retail investors did not constitute securities transactions.

The second option is a dismissal of the appeal. According to him, this would require Ripple to pay the previously ordered $125 million penalty. Recall that Judge Torres ruled that the company should settle the amount due to violating certain rules.

While the figure sounds substantial, it actually represents just a fraction of the $2 billion the watchdog initially asked for. Somewhat expected, many Ripple proponents viewed the decision as a major victory, while some of the company’s executives promised to respect the court’s ruling.

The third scenario seems like the most favorable (and most unlikely) for Ripple. According to Deaton, this includes the SEC withdrawing its appeal and scrapping the firm’s $125 million fine.

“I don’t see the SEC saying: “No, we’re going to deny a judge’s ruling.” So that’s why I think the middle one is the option.”

The SEC Looks Like the Underdog

Despite not outlining when the case might be officially over, Deaton believes Ripple’s victory is just a matter of time. He based his thesis on the fact that the current President of the USA – Donald Trump – has completely changed his stance on the digital asset sector, planning to make the country the crypto capital of the world. 

Last week, he doubled down on his supposed affection for the industry, launching a meme coin of his own. At first, the token, called Official Trump (TRUMP), experienced a spectacular price increase before heading south.

Most recently, Trump signed an executive order to review the creation of a “National Digital Asset Stockpile.” His initial intention was to establish a strategic BTC reserve in the US, but now the effort’s scope seems to have expanded to other cryptocurrencies, too.

US President Donald Trump has issued an executive order establishing the Presidential working group on digital asset markets.

The move signals progress on some key commitments, such as halting federal efforts toward CBDCs and granting high-profile pardons. However, certain elements, like the promised creation of a “strategic national Bitcoin stockpile,” remain notably absent or vague, leaving questions about the full scope and direction.

Trump Advances Digital Finance Agenda

According to Fox reporter Eleanor Terrett’s latest update, the working group, if established, is tasked with developing a Federal regulatory framework for digital assets, including stablecoins, and assessing the creation of a strategic national digital assets stockpile.

This stockpile in question, however, does not mention Bitcoin despite Trump’s campaign promise at a Nashville BTC conference in July to create a “strategic national Bitcoin stockpile” using the over $20 billion worth of BTC seized by the Justice Department. Several Bitcoin maximalists pointed this out, with some suggesting that the stockpile should only consist of BTC.

Meanwhile, the working group, chaired by White House AI & Crypto Czar David Sacks, will include top officials such as the Treasury Secretary, SEC Chairman, and leaders from other key agencies. The AI & Crypto Czar will consult leading industry experts to ensure informed decision-making.

Crypto Campaign Promises

The executive order also directs federal departments and agencies to identify and recommend modifications or rescissions of existing regulations affecting the digital assets sector. It also revokes the Biden administration’s Digital Assets Executive Order and the Treasury’s international engagement framework, citing their negative impact on innovation and US economic leadership.

Interestingly, the order prohibits any federal action to establish or promote central bank digital currencies (CBDCs). As part of his campaign promises to the crypto industry, Trump had previously pledged to order federal agencies to cease any efforts toward developing CBDC. He also fulfilled his promise to grant a full and unconditional pardon to Ross Ulbricht, who operated the dark web marketplace Silk Road.

While Trump’s executive order represents significant steps toward his digital finance goals, the authority of U.S. presidents to enact certain laws and policies through executive orders remains contentious.

For example, Trump previously issued an order to revoke birthright citizenship under the 14th Amendment, which Judge Coughenour, a Reagan appointee, declared “blatantly unconstitutional.” The judge criticized the Justice Department’s defense and expressed disbelief that legal professionals could support such a directive.