Ndax Weekly TL;DR Feb 2

• Trump Nominates Former Fed Governor Kevin Warsh as Federal Reserve Chair
• Optimism Approves OP Token Buyback Program
• Vitalik Buterin Allocates $45 Million in ETH to Open-Source Projects

U.S. President Donald Trump said he will nominate former Federal Reserve Governor Kevin Warsh to replace Jerome Powell as chair of the U.S. central bank, a move that will require Senate confirmation. Warsh, who served on the Fed’s board from 2006 to 2011, has been critical of prolonged loose monetary policy and has expressed a more open view toward Bitcoin than Powell, arguing it does not necessarily undermine monetary control. The nomination has prompted market speculation and sets the stage for a closely watched confirmation process focused on Warsh’s policy views and regulatory stance. Cointelegraph

Optimism’s governance community has approved a proposal to allocate 50% of Superchain revenue to buy back the OP token over the next 12 months, starting in February. The program will use Ether generated from sequencer revenue across the Superchain’s layer-2 networks, with monthly ETH-to-OP conversions conducted through an over-the-counter provider and the tokens held in the treasury. The initiative is intended to better align the OP token with the economic performance of the Superchain, with potential future uses including ecosystem funding, token burns, or participant incentives. Cointelegraph

Ethereum co-founder Vitalik Buterin said he has set aside 16,384 ETH, valued at about $45 million, from his personal holdings to fund privacy-focused technologies, open-source hardware, and secure software infrastructure. The funds will be deployed gradually over several years and may be supplemented through staking-based strategies. Buterin described the move as aligned with the Ethereum Foundation’s shift toward “mild austerity” while maintaining its core technical roadmap, positioning the initiative as complementary to Ethereum’s long-term development rather than a departure from it. Cointelegraph

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News Nuggets

• Bitcoin and Ether ETFs Record Nearly $1 Billion in Outflows Amid Crypto Market Drop Cointelegraph
• El Salvador Adds Gold to Reserves While Continuing Bitcoin Accumulation CoinDesk
• UAE Central Bank Approves First U.S. Dollar–Backed VRCA CoinDesk
• Metaplanet Plans Equity Raise to Expand Bitcoin Treasury Holdings The Block
• SEC Confirms Tokenized Securities Fall Under U.S. Federal Securities Laws The Block
• Ethereum Prepares to Launch ERC-8004 Standard for AI Agent Identity and Trust crypto news
• Hong Kong Plans to Submit Draft Digital Asset Regulatory Framework in 2026 Cointelegraph

As of 02-02-2026 at 9:20 AM EST

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$4.07 trillion to CA$3.59 trillion.
• Bitcoin's market dominance stands at 59.3%, while Ethereum's share is 10.7%. 

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$101K and CA$107K registering a 11.7% change over the past week and a market cap of CA$2.1 trillion. (At time of writing) 

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