ExtraOrdinal Daily #116 | First They Ignore You...

6th Feb 2025 ||| Issue #116
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Table of Contents

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Todays Top Stories

…Then They Laugh At You, Then They Fight You, Then You Win

For years, Senator Elizabeth Warren has been one of crypto’s most vocal critics. She has repeatedly warned of crypto’s ties to illicit activity, pushed for stricter regulations, and even championed an “anti-crypto army.” But in a surprising turn, Warren has now acknowledged that debanking legitimate crypto firms is a problem.

Warren’s History of Opposing Crypto

Warren has consistently positioned herself as an opponent of the crypto industry. She has argued that digital assets enable money laundering, fraud, and illicit finance, calling for tighter regulations and greater oversight. She has also backed measures that would make it harder for traditional banks to service crypto firms.

Despite this, her latest remarks signal a recognition of a broader issue: banks may be unfairly cutting off access to financial services—even for legal businesses.

Warren Speaks Out on Debanking

During a Senate Banking Committee hearing on February 5, Warren joined the conversation on debanking, stating:

“I don’t think for a second that you should be locked out of our banking system.”

She was speaking to Nathan McCauley, CEO of Anchorage Digital, a federally chartered crypto bank that was debanked in 2023. While Warren did not explicitly call out crypto debanking, she did express concern that banks may be closing accounts unfairly.

In a separate letter to President Trump, Warren highlighted that over 8,000 consumer complaints had been filed over debanking practices, demanding action against major financial institutions.

What Is Crypto Debanking?

Crypto firms have long faced difficulties accessing banking services. Many financial institutions have refused to work with crypto businesses, citing regulatory uncertainty, reputational risks, and pressure from government agencies.

This issue became particularly acute after the collapse of Silvergate Bank, Signature Bank, and Silicon Valley Bank in early 2023, all of which had been key banking partners for the crypto industry.

The crackdown—often referred to as Operation Choke Point 2.0—led many in the industry to believe that regulators were actively discouraging banks from servicing crypto clients.

Why This Matters

If banks can arbitrarily cut off financial services, it sets a dangerous precedent—not just for crypto, but for any industry that regulators or financial institutions deem risky. Today, it’s crypto firms. Tomorrow, it could be other legal but “controversial” businesses—and who is the arbiter of what is deemed controversial?

Warren’s acknowledgment of the issue could indicate a bipartisan shift toward addressing unfair debanking practices. While she remains skeptical of crypto, her stance suggests a recognition that even crypto firms deserve fair access to financial services.

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Daily Bites: Today’s Top Articles

Todays Markets

Catch up with Landy in yesterday’s Wednesday Check-In:

Ordinals

Top Ordinals now seem to be stuck in some hellish purgatory, unable to break out of their respective ranges.

For Bitcoin Puppets and NodeMonkes, that’s 0.055 to 0.07 BTC, for Quantum Cats, it’s 0.023 to 0.027 BTC, and for OMB—which fails to make the top 10 for volume today due to zero sales—it’s 0.128 BTC, barely moving above or below that level.

Pizza Pets makes a solid 21% gain today, while OCM climbs 4%, escaping the broader stagnation with four sales totaling 0.147 BTC.

Elsewhere, it’s business as usual, with bargain prices across many fan-favorite collections, all still sitting at severe discounts.

Runes (Bitcoin Memecoins)

After weeks of consistent appearances in the top 10 by volume—and often posting gains even on red days—$MORI does it again today, breaking into the top 5 with a 9% increase.

The market cap remains well below its ATH (but what isn’t?), yet the frequent strength on bad days is encouraging for holders.

$RICH is another token that’s been gaining attention lately and once again features in this section, climbing to 6th place.

However, it’s worth noting that while this is a positive move, overall volume remains extremely low, and a single person can sweep their way into the top 10 with a buy totaling just $2.5K.

The top 5 on OdinFun remain identical to yesterday’s rankings, with OdinDog pulling even further ahead, holding a $1.4 million market cap, while the rest continue to decline.

Following MicroStrategy’s rebranding to "Strategy" yesterday, a few tickers launched attempting to capitalize on the meta. Despite efforts—including someone posing as Michael Saylor in the comments to hype it up—the tokens failed to take off.

Todays Opportunities

Giveaways

There are currently four raffles live, so join the Discord below and make sure you have notifications on so you don’t miss out!

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Nothing in this or any other ExtraOrdinal Daily publication should be construed as financial or investment advice.

We trust this ExtraOrdinal Daily provided you with the information, insight and opportunities needed to have an ExtraOrdinal day! If you have any questions, suggestions, or a desire to contribute, reach out in the ExtraOrdinals Discord!

See you tomorrow!