Cryptocurrency advocates have sent thousands of emails opposing the renomination of U.S. Securities and Exchange Commission (SEC) commissioner Caroline Crenshaw, urging lawmakers to reject the reappointment.

The Pudgy Penguins, a collection of cartoon penguin non-fungible tokens (NFTs) that made its way into toy sales at major retailers, has launched its native token PENGU through a massive airdrop.

Tokyo-based investment firm Metaplanet, which recently embraced Bitcoin as a treasury asset, is projecting it’ll record its first consolidated operating profit in seven years partly thanks to its cryptocurrency holdings.

Top stories in the Crypto Roundup today:

• Crypto Advocates Flood Senators with Emails Opposing SEC Commissioner Crenshaw's Renomination
• Pudgy Penguins LaunchNative PENGU Token Through Massive Airdrop
• Metaplanet Sees First Operating Profit Since 2017 Thanks to Bitcoin Holdings
• Spot Bitcoin ETFs Weekly Inflows Average 1,911 BTC

Crypto Advocates Flood Senators with Emails Opposing SEC Commissioner Crenshaw's Renomination

Cryptocurrency advocates have sent thousands of emails opposing the renomination of U.S. Securities and Exchange Commission (SEC) commissioner Caroline Crenshaw, urging lawmakers to reject the reappointment.

According to the nonprofit crypto advocacy group Stand With Crypto, approximately 107,000 emails were sent by 52,000 individuals to U.S. senators over the renomination. The email flood comes as a Senate Banking Committee twice postponed a vote on Crenshaw’s renomination.

The delays have been attributed to Republication objections and scheduling conflicts. Kara Calvert, vice president of U.S. policy at Nasdaq-listed cryptocurrency exchange Coinbase, said the emails show crypto advocates aren’t just focused on elections, but also on policy.

Crypto advocates are opposing Crenshaw’s renomination over her perceived anti-crypto stance, which stems from her opposition to the launch of spot Bitcoin exchange-traded funds (ETFs) earlier this year, and her description of crypto markets as “Petri dishes of fraudulent conduct.”

Pudgy Penguins LaunchNative PENGU Token Through Massive Airdrop

The Pudgy Penguins, a collection of cartoon penguin non-fungible tokens (NFTs) that made its way into toy sales at major retailers, has launched its native token PENGU through a massive airdrop.

That airdrop was marked by its subsequent volatility, as the Solana-based token initially jumped into the top 100 cryptocurrencies by market capitalization, reaching $2.1 billion, before its price started retreating and losing over half of its value.

PENGU was airdropped to holders of Pudgy Penguins NFTs, owners of NFTs from partner collections, eligible traders across Ethereum and Solana, and even holders of FTT, the utility token of collapsed cryptocurrency exchange FTX.

The token has a total supply of 88.88 billion, and approximately 44.8 billion tokens were airdropped for a total value of well over $1.5 billion. Claimants have until March 15 to get their airdropped tokens, before these are permanently removed from circulation.

Ahead of the airdrop, the price of Pudgy Penguins NFTs surged to break the $100,000 mark, but after the airdropped started their prices started plunging.

Metaplanet Sees First Operating Profit Since 2017 Thanks to Bitcoin Holdings

Tokyo-based investment firm Metaplanet, which recently embraced Bitcoin as a treasury asset, is projecting it’ll record its first consolidated operating profit in seven years partly thanks to its cryptocurrency holdings.

The firm announced on Dec. 18 that it projects it will generate 890 million Japanese yen (around 5.8 million) in revenue for the fiscal year ending Dec. 31, a substantial increase from the 261 million yen it generated in the previous year.

Metaplanet’s operating profit if expected to hit 270 million yen, upon from a 468 million yen loss. The firm attributed a significant portion of its revenue — 520 million yen — to the sale of put options on its BTC holdings.

Put option sales allow Metaplanet to earn a premium, regardless of whether the options are exercised or not. Put options give their holders the right but not the obligation to sell an asset at a specific price at a predetermined date.

Spot Bitcoin ETFs Weekly Inflows Average 1,911 BTC

With the approval of spot Bitcoin exchange-traded funds in the United States earlier this year, institutional investors gained a way to get exposure to BTC through traditional investment vehicles.

The approval has had a significant impact on Bitcoin’s price performance year-to-date, leading to a 137% surge and a new all-time high above the $100,000 mark. Since their launch, spot Bitcoin ETFs have become the best-performing in history, with over 500,000 BTC in net flows so far in the year.

Since Republican Presidential candidate Donald Trump won the U.S. elections, spot Bitcoin ETFs added nearly 2,000 BTC per week on average. ETF inflows typically gain momentum in the years after their launch, which could mean inflows are still set to accelerate.

Dig deeper into the crypto market’s trends via CCData’s 2025 H1 Outlook Report.

State of the Crypto by Top Tier Exchange Volume

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