Jan 16, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines shaping the crypto industry, including Solana Mobile's plans to launch a second smartphone as it looks to ride the unlikely success of its first crypto-ready smartphone and crypto-friendly U.S. presidential candidate Vivek Ramaswamy suspending his campaign.

Video transcript

Vivek Ramaswamy suspends his campaign and Solana has a new mobile device in the works. You're watching coin desk daily, I'm your host, Jen Sani Crypto friendly us presidential candidate, Vivek Ramaswamy has suspended his campaign for Republican leadership after finishing fourth place in Iowa. As part of his campaign, Ramaswamy laid out a crypto plan that emphasized safeguarding software developers and unted wallets treating most crypto as commodities and reducing sec influence over the sector. Here's what he told first mover late last year, whatever the rules of the road are, they deserve to be clear. And my litmus test of whether or not they're clear is if the head of the SEC or the commissioners of the SEC cannot instantly answer whether or not some widely used Cryptocurrency or Coin Co Council Security or a commodity, that means the rules that we have right now are a failure. In his concession speech. The former biotech executive thanked supporters and endorsed former President Donald Trump. Trump won the Iowa caucus by around 30 points over his closest rival. Lot of mobile will sell a second crypto smartphone. That's according to a person familiar with the matter, the upcoming phone will have the same basic features as its predecessor called Saga. The features include an onboard crypto wallet, custom Android software and at App Store for crypto applications. The person told Coindesk that the phone will be cheaper than the first one and have different hardware. Saga gained unexpected popularity when crypto traders realized the phone came with an allocation of B tokens causing the phone to sell out in less than a week. The original phone cost $1000 when it launched but saw prices reduced amid struggling sales at price time on the Saga, phones were listed on ebay for as much as $3900. And the true US D stablecoin was knocked off its peg and is currently trading at 0.988 cents according to Coindesk indices. Data from Binance shows that in the last 24 hours, there have been over $444 million in T US D sell orders versus $301 million in buy orders resulting in a deficit of around 100 and $42 million. Crypto quant analyst Bradley Park told Coindesk on telegram. Quote T US D is related to Justin's son and its market cap is constantly shrinking. He added that it is likely due to the impact of the HTX. And Polonius Hacks Park also pointed to Binance killing fees on first digital's FD US D trading pairs with EB and B dot And Soul as another reason for the decline with the exchange, not including T US D as an option for staking new tokens on its launch pad. That's it for Coindesk daily. Get more updates on coindesk.com and we'll see you next time.

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