The Crypto Roundup: 07 February 2025

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

Fueled by a resurgent interest in bitcoin futures and options, cryptocurrency trading volumes on the Chicago Mercantile Exchange (CME) rose to a new $285 billion all-time high in the first month of the year, according to CCData’s latest Exchange Review.

Czech Republic president Peter Pavel has signed into law a bill exempting long-held bitcoin holdings from capital gains taxes.

The Trump-supported decentralized finance project World Liberty Financial plans on establishing a “strategic reserve” using tokens it has bought, according to the project’s co-founder Chase Herro.

Top stories in the Crypto Roundup today:

CME Crypto Volumes Hit New $285 Billion All-Time High
Czech President Signs Bill Exempting Long-Held Bitcoin from Capital Gains Tax
Trump-Supported DeFi Project Plans 'Strategic Reserve' of Tokens

CME Crypto Volumes Hit New $285 Billion All-Time High

The figure marks an 8% increase from the previous month, according to a CCData report, with bitcoin futures seeing a 12% rise to $220 billion, while options surged 125% to $6 billion.

In contrast, ether futures trading volumes fell by nearly 13% to around $41 billion. While the CME saw record trading activity, derivatives volumes across centralized exchanges dropped by nearly 19% in Jan., CCData’s report shows.

The report also shows that spot and derivatives trading volumes on Binance dropped by 20.3% and 19.2% to $754 billion and $2.44 trillion respectively, in their first decline in four months. Nevertheless, Binance’s spot market share rose to 26.2% as other exchanges experienced stronger declines.

Similarly, Bybit saw its market share rise to 13.3%, despite seeing an 11% decline in spot trading volume to $220 billion and an 18.5% drop in derivatives volume to $977 billion. It remains the second-largest exchange by volume.

Czech President Signs Bill Exempting Long-Held Bitcoin from Capital Gains Tax

Czech Republic president Peter Pavel has signed into law a bill exempting long-held bitcoin holdings from capital gains taxes.

The law, which received unanimous approval from the Czech Parliament in early December, also stipulates that cryptocurrencies acquired before 2025 will be exempt from capital gains tax if held for more than three years before being sold, if the sale meets specific conditions.

Taxpayers will also not need to declare transactions valued at less than 100,000 Czech koruna, approximately $4,100, contrasting with previous regulations that made every transaction a taxable event.

Parliamentary representatives have said that these tax amendments are part of a broader national effort to align the Czech Republic with the European Union’s Markets in Crypto Assets (MiCA) framework, which went into effect late last year.

Trump-Supported DeFi Project Plans 'Strategic Reserve' of Tokens

During Ondo Finance’s inaugural summit in New York, Herro appeared on a panel alongside co-founders Zak Folkman and Zach Witkoff, being introduced at the event by Donald Trump Jr., who sat on the panel.

While Herro did not elaborate on the specific objective of the project’s token reserve, the concept resonates with President-elect Donald Trump’s proposal for the creation of a digital asset stockpile.

Earlier in the week, following a cryptocurrency market downturn, World Liberty Financial added tens of millions of dollars worth of ether to its holdings.

State of the Crypto by Top Tier Exchange Volume

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