Newly released emails from the U.S. Department of Justice (DOJ) revealed that Jeffrey Epstein made a $3 million investment in the cryptocurrency exchange Coinbase in December 2014. For the unversed, Epstein, an influential American financier, later became widely known for serious crimes, including sex trafficking of minors. He also had strong ties with people in politics and the technology sector.

The recently released emails reveal that the investment was arranged through Brock Pierce, co-founder of Tether and Blockchain Capital, and that Coinbase co-founder Fred Ehrsam was aware of the arrangement.

In one message dated December 3, 2014, Ehrsam wrote, “I have a gap between noon and 3pm today, but again, not crucial for me, but would be nice to meet him if convenient. Is it important for him?”

Epstein’s Coinbase investment and cash-out

According to the documents, the investment took place in 2014 when Coinbase was valued at $400 million. Today, the exchange is worth about $51 billion. 

In 2018, Epstein sold half of his Coinbase equity back to Blockchain Capital, receiving nearly $15 million, while retaining the other half of his stake. Brock Pierce confirmed the transaction in emails and at one point questioned whether the deal was fully completed, suggesting some confusion over the arrangement.

Epstein also had connections with other cryptocurrency ventures. The emails show he invested in Blockstream, a company co-founded by early Bitcoin developer Adam Back. He also met with prominent figures in tech and finance, including former U.S. Treasury Secretary Larry Summers, at his Manhattan townhouse to discuss Bitcoin. 

Pierce described the Coinbase fundraising round as “the most platinum-plated deal in the space.”

Epstein also asked LinkedIn founder Reid Hoffman for advice on how much he should invest. Hoffman replied, “I probably wouldn’t play. But I may not be up-to-date on interesting internal news.”

Tax concerns and other connections 

Epstein-related filings show he was concerned about cryptocurrency taxation in the United States. In a February 2018 email, he asked former White House advisor Steve Bannon for guidance on how the Treasury Department would respond to crypto-related questions.

Epstein’s involvement in cryptocurrency came after he was convicted in 2008 for procuring a child for prostitution and soliciting a prostitute, making him a registered sex offender at the time of the Coinbase investment. The newly unsealed records highlight his connections to wealthy investors and the early cryptocurrency world, without alleging any criminal wrongdoing in these deals.

Other high-profile figures appear in the email records, including Michael J. Saylor, Executive Chairman of Strategy, who was mentioned in a 2010 email from Hollywood publicist Peggy Siegal. The email described Saylor attending a charity event after giving a $25,000 donation. The records have caused discussions online about Epstein’s influence in the crypto space.

Also Read: XRP Maxis Blame Bitcoiners for Linking Ripple to Epstein Files

Hyperliquid, a decentralized exchange, announced the launch of HIP-4, a new protocol that will allow outcome trading on its platform. The feature will let users trade prediction markets and options-like contracts that are fully collateralized and settle within a fixed range.

HyperCore, Hyperliquid’s main trading engine, will support this new mode to expand activity and offer more trading options. The platform plans to offer a safer option for users who want to avoid risky leverage trading.

The launch is currently in the testnet stage, and live markets will come after testing is done. Additionally, HIP-4 will initially use USDH, Hyperliquid’s native stablecoin, to settle trades. Later, it will allow users to freely create new trading pairs without restrictions.

HyperCore will support outcome trading (HIP-4). Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive that are useful for applications such as prediction markets and bounded options-like instruments. There has been…

— Hyperliquid (@HyperliquidX) February 2, 2026

Details of the HIP-4 contracts

The new contracts in HIP-4 will be dated and allow derivative trading without leverage or liquidations. This design makes it less risky than traditional margin trading markets. The outcome contracts are general-purpose primitives, meaning developers can build prediction markets or other options-like instruments on top of HyperCore. 

Hyperliquid plans to offer permissionless deployment at the end stage, allowing new outcome pairs to be created freely by users.

HIP-4 comes after the success of HIP-3, which allowed the quick creation of markets like silver and gold trading on-chain. HIP-3 became highly active in just days and showed that the platform can support fast-growing markets.

HYPE token up 8% in 24 hours

Hyperliquid’s native token, HYPE, was quick to react to the announcement. At the time of writing, the token is trading for $32.29, up 8% in the last 24 hours. In the past week, the token has gained more than 35%, despite the recent overall market crash.

The recent update would likely increase adoption by attracting both leveraged and non-leveraged traders. The platform has already grown in market depth and even competes with Binance in trading volumes, though recent BTC open interest fell to $1.77 billion, with $4.97 billion in total open interest. 

Even after recent market losses, HIP-3 still has more than $1 billion in open interest and $4.8 billion in trading activity.

Since last week, HIP-3 markets reached new all-time highs of $1B in open interest and $4.8B in 24-hour volume. https://t.co/SdOcpcgDO2

— Hyperliquid (@HyperliquidX) February 2, 2026

Hyperliquid is positioning HIP-4 to capture attention in the prediction markets space, which is currently active on other networks. Once the testing phase is complete, the platform will use objective settlement sources to ensure transparent and reliable outcomes.

Also Read: Hyperliquid Slashes Team Payouts 98% to Protect HYPE Floor

Shiba Inu (SHIB), one of the well-known meme cryptocurrencies, saw its price fall sharply during the weekend market sell-off after Bitcoin (BTC) dropped below $80,000 for the first time since April 2025.

The market crash caused panic across the market, and SHIB was one of the coins hit the most. Its price fell to $0.00000616, which is the lowest level it has seen since June 2023. After that, it made a small recovery and now trades for $0.0000069, up about 5% from the previous day. Trading volume also fell, sliding about 22% to roughly $167 million in volume in the last 24 hours.

SHIB falls as traders panic sell

The drop came during a period of weak sentiment across the crypto space. In recent months, many traders have closed their positions with meme coins facing heavy selling pressure. In fact, SHIB has lost more than 9.49% over the past seven days.

Liquidations also added to the decline. According to Coinglass, around $196,390 in long positions were wiped out in 24 hours as traders betting on a price going up were forced to sell. Futures trading volume fell 18% to around $221 million, while open interest surged 6% to $76.56 million. In short, there are mixed expectations among traders at the moment.

Burn activity slows sharply

Another major issue has been the slowdown in SHIB’s burn activity. Burning means sending tokens to dead wallets so they are removed from circulation. This is believed to create scarcity for the token, which could drive the price up.

Shibburn, a tracker that monitors the token’s burns, reported that on January 31, zero SHIB was sent to dead wallets, meaning no supply was removed. This was surprising because just two days earlier, the burn rate jumped over 500%. However, the burn rate has increased by 480% in the last 24 hours.

A single transaction alone removed 1,887,367 SHIB tokens, briefly giving investors some hope for stronger deflationary pressure. However, SHIB still has a huge supply. More than 585 trillion tokens are still in circulation, and trillions more are locked in staking.

Another concern is the drop in activity on Shibarium, the layer-2 network linked to Shiba Inu. According to DeFiLlama, Shibarium’s Total Value Locked (TVL) has dropped to about $393,000, the lowest level ever recorded. This is a steep fall from a peak of more than $6 million in December 2024, showing a decline of over 41% in the last 24 hours and about 93% in just over a year.

Lower TVL often points to reduced user activity and less capital flowing through the network.

SHIB taps 2023 support: can it recover?

SHIB is now trading in a price zone that previously acted as support before its rise in late 2023. This is also its lowest support level since 2021. The current price is showing the daily candle rejecting off the support level. 

A solid bullish candle close above the level could spark a rally. Moreover, the 4-hour time frame also displayed multiple rejections, followed by an engulfing candle, suggesting a bullish move. Additionally, the Relative Strength Index (RSI) is currently at 40, while the moving average is at 36. This means the bears are still in control of the market.

In short, Shiba Inu may continue to face bearish pressure if the current price sentiment does not shift to bullish. A break below the current support zone could lead to a downtrend that could be hard to recover from.

Also Read: BitMine Boosts Treasury With 41,000+ ETH as Ethereum Prices Drop

Bitmine Immersion Technologies, Inc., an Ethereum (ETH) treasury firm, purchased 41,788 ETH last week amid the recent price decline. The company now holds around 4,285,125 ETH, worth $10.1 billion at the current price.

This represents roughly 3.55% of the total ETH supply, making Bitmine the largest Ethereum treasury in the world and the second largest crypto treasury overall, after MicroStrategy. 

Additionally, the firm holds 193 Bitcoin (BTC), about $586 million in cash, a $200 million stake in Beast Industries, and a $20 million stake in Eightco Holding, according to an update released on Monday.

The purchase comes as Ethereum faces selling pressure. The price dropped sharply over the weekend, falling below $2,500 and briefly touching $2,187 before bouncing back. Currently, ETH is trading at $2,374, up 3.05% in the last 24 hours but down 17.79% in the last seven days.

Previous Ethereum purchases and rewards

Earlier, on January 21, Bitmine purchased 35,228 ETH, which was after another 24,266 ETH from a week before its annual shareholder meeting on January 15.

The company has also staked 2,897,459 ETH, worth about $6.7 billion, generating annual staking revenue of around $188 million.

Once Bitmine’s Made in America Validator Network (MAVAN) becomes fully operational in early 2026, staking rewards could reach $374 million per year (using 2.81% CESR), which is equal to more than $1 million per day.

“This will be the ‘best-in-class’ solution offering secure staking infrastructure and will be deployed in early calendar 2026. Bitmine is currently working with 3 staking providers as the Company moves towards unveiling MAVAN in 2026,” Lee said.

Bitmine’s stock activity 

Bitmine (BMNR) is currently trading at $23.80, about a 6% drop in the last 24 hours, according to Yahoo Finance. The company said it ranks #105 among all U.S.-listed stocks by average daily trading dollar volume, with around $1.1 billion traded daily over the last five days, which places it ahead of many established companies. 

In its press release, the company highlighted that the changes in U.S. regulation, including the passing of the GENIUS Act and the SEC’s Project Crypto, could help digital assets become more widely used in finance.

Sitting on $6.6 billion in unrealized losses

As of the last week of January, Bitmine’s total holdings were worth about $12.8 billion combined. However, the recent market crash has reduced the value of its Ethereum holding, leaving the firm with an estimated unrealized loss of about $6.6 billion.

🚨New: Tom Lee’s ( @fundstrat ) Ethereum treasury company BitMine ($BMNR) is sitting on about $6.6 billion in unrealized ETH losses, putting it on track to become the fifth largest documented principal trading loss in history if the position is sold. pic.twitter.com/2ELqO5eA0R

— SolanaFloor (@SolanaFloor) February 2, 2026

Chairman Thomas “Tom” Lee mentioned this in the press release, noting, “ETH prices have dropped sharply in the past month from approximately $3,000 to approximately $2,300.” However, he added that Ethereum activity is strong, with 2.5 million daily transactions and 1 million active addresses per day.

Lee said the company believes the cryptocurrency is essential for the future of finance. With MAVAN and its growing treasury, Bitmine is positioning itself as a major player in the crypto and digital finance world.

Also Read: Ethereum To Rollout ERC-8004 On Mainnet To Empower AI Agents

Shares of Strategy Inc. (NASDAQ: MSTR), the Bitcoin-focused treasury firm, finished Friday’s session up 4.55% at $149.71, while Bitcoin (BTC) continued selling off after-hours and through Saturday, slipping below the $80,000 support level. Now the question is, will Strategy share maintain its value, or will it follow Bitcoin?

Unlike Bitcoin, which trades 24/7, U.S. equities do not trade on weekends. As a result, MSTR has not yet reacted to Bitcoin’s latest leg down.

Bitcoin is currently trading around $77,756, down from a daily high of $84,230. The cryptocurrency has fallen nearly 13% over the past week, while daily trading volume dropped 12% to $62 billion, according to CoinMarketCap.

This difference in price correlation is surprising considering the fact that the company’s stock moves amid Bitcoin price swings. The company holds 712,647 BTC, which is roughly 3.4% of the total Bitcoin supply. With that volume, the stock usually moves closely with Bitcoin’s price action, making MSTR’s rise unusual.

The move suggests that short-term market sentiment may be influencing the stock differently from Bitcoin. Some investors may see the recent Bitcoin sell-off as an opportunity to buy Strategy shares at lower levels.

Analysts warn of potential downside

Analysts are keeping a close eye on the stock. In a recent post on X, market analyst Aksel Kibar said the MSTR chart is displaying a “long-forming topping structure” on the weekly chart and could drop to $120. He added that the recent price swings are forming lower highs, which is a sign that the price could be trading downwards. The stock recently traded slightly below its 52-week low before rebounding.

$MSTR The amount of heat I got for posting that bearish setup. What was I thinking? https://t.co/mpQrmRpkic pic.twitter.com/sTQ9wut2nd

— Aksel Kibar, CMT (@TechCharts) January 29, 2026

Despite the recent bounce, MSTR is still down more than 7% for the year. Analyst Ted Pillows also shared his outlook, noting that the stock has lost its prior monthly upward trend and is trading below key momentum indicators.

Meanwhile, crypto analyst Benjamin Cowen compared the stock’s cycle to previous years, suggesting that it could reach a low point by October 2026. 

Peter Schiff criticizes Strategy’s Bitcoin plan

Economist Peter Schiff also weighed in, criticizing Strategy’s Bitcoin-focused approach. In a post on X, Schiff noted that the stock is “almost 70% below its peak,” seemingly attributing the decline to the company’s Bitcoin treasury plan. He noted that Strategy spent over $52 billion to buy more than 700,000 BTC at an average of $76,000 per coin.

$MSTR closed down 9.5% today, a new 52-week low. The stock is down nearly 70% from its high. @Saylor spent $54 billion over the past five years buying over 712K bitcoin at an average price of just over $76K. His total unrealized gain is less than 11%. Too bad he didn’t buy gold!

— Peter Schiff (@PeterSchiff) January 29, 2026

Schiff pointed out that in Q4 2025, the firm reported an unrealized loss of $17.44 billion after Bitcoin fell 25% in the quarter. He argued that the small 11% gain over five years would have been much larger if the company had invested in gold instead. Schiff added that central banks have continued to accumulate gold because it is seen as a safer store of value.

Strategy’s recent Bitcoin purchase

Earlier this month, Strategy bought 2,932 BTC for $264 million through a stock offering program. The company sold 1.57 million shares, raising $257 million, with $8.17 billion still available for future offerings. 

Despite Bitcoin’s drop, Strategy’s total Bitcoin holdings remain valued at about $59 billion. Other firms with large Bitcoin positions, like Marathon Digital and Japan-based Metaplanet, also saw stock declines, dropping 6.65% and nearly 4%, respectively, in response to Bitcoin’s price movement.

While Strategy’s large Bitcoin holdings make it a key player in the crypto market, they also add risk. The stock can sometimes move differently from Bitcoin in the short term, but long-term results still depend on how Bitcoin performs.

Also Read: Bitcoin Breaks $80K Support, Dragging ETH, SOL, BNB, and ADA Lower

The broader crypto market has turned red today as Bitcoin (BTC), the largest cryptocurrency in the market, fell to $78,890, marking a 2.43% decline in the last 24 hours and breaking the psychological $80,000 level, dragging the altcoin market with it.

Altcoins, including Ethereum (ETH), Cardano (ADA), Binance coin (BNB), and Solana (SOL), all dropped more than 6% during the same period.Overall crypto market valuation has declined by 2.91%, sitting at $2.73 trillion, while trading activity has fallen 25.22% to $135.35 billion, according to CoinMarketCap data. Bitcoin’s own trading volume also dropped by 34%, reaching $50.75 billion.

A billion dollars wiped out in 24 hours 

The sell-off was triggered by a wave of forced liquidations, wiping out around $1 billion in crypto positions in just 24 hours. According to Coinglass, about 245,103 traders were forced out of their positions as prices fell rapidly.

In this liquidation bloodbath, Ethereum accounted for the largest share of losses at $378 million, while Bitcoin recorded losses of around $184 million.

Long positions dominated the wipeout, with nearly $889 million in bullish bets erased. The liquidation created a fast chain reaction of selling that spread across other major coins.

Spot ETF outflow added fuel to the sell-off 

The ETF market was also hit. U.S. spot Bitcoin ETFs added pressure as investors went on a seven-day withdrawal spree. Over $1 billion has been withdrawn during the period.

In the past 24 hours alone, over $500 million was withdrawn. The majority of this was from Blackrock IBIT alone, which saw around $528 million in outflow. Other ETFs, including Fidelity’s CBOE and Ark & 21shares, saw only $7 million and $8 million in inflows.

Spot Ethereum ETFs also recorded similar outflows, with around $253 million being moved from the market. The majority of the withdrawal was from BlackRock, with $157 million in outflows in 24 hours. Fidelity followed with about $95.7 million in outflows, while other ETFs stayed dormant, according to Farside.

U.S. shutdown and traditional market volatility 

The situation was further complicated by the possibility of a partial shutdown of the U.S. government. Lawmakers have failed to vote on a temporary funding plan before recess, which has created uncertainty across the financial market.

Historically, when there is uncertainty in U.S. politics, it slows down trading and reduces liquidity, making leverage positions more vulnerable to forced liquidation.

Traditional markets also saw big swings. U.S. stocks fell sharply in early trading, while gold and silver declined. Gold briefly lost nearly $3 trillion in value, and silver about $750 billion, before partially recovering.

Right now, investors are cautious and pulling money from risky assets, especially crypto.

Also Read: Strategy Stock Slides 11% After Bitcoin Breaks $85K Support

XRP supporters are criticizing Bitcoin advocates for spreading claims that Ripple is connected to Jeffrey Epstein. The dispute began after the U.S. Department of Justice released millions of files on Epstein on Friday, followed by the circulation of a 2014 email that some interpreted as evidence of an alleged link to Ripple and Stellar. However, XRP supporters have pushed back, arguing that Ripple had nothing to do with Epstein.

😱 Ripple & Stellar in 2014 email from Austin Hill to Jeffrey Epstein:

I've been asked by the other cofounders to reduce or take your allocation away. Ripple, and Jed's new stellar are bad for the ecosystem we are building and it does our company damage to have investors who… pic.twitter.com/qzHQlkqk8n

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) January 31, 2026

Who is Jeffrey Epstein

Jeffrey Epstein was a wealthy American financier who became widely known for serious crimes, including sex trafficking of minors. He had connections with influential figures across business, politics, and the tech world.

Epstein also ran private investment funds and had ties to organizations like MIT Media Lab, where he had donated money through the foundations he controlled. He died in 2019 while in jail awaiting trial. Because of his wealth and connections, individuals and companies that had indirect links to him are often scrutinized, even when there is no evidence of wrongdoing.

What sparked the rumor

The rumor came from a 2014 email that had the names of four people: Austin Hill, Jeffrey Epstein, Joichi Ito, and Reid Hoffman. At the time, Hill was CEO and co-founder of Blockstream, a Bitcoin-focused company. He sent the email to Epstein and Ito, copying Hoffman, who was a Blockstream board member. 

According to crypto influencer Leonidas, the email does not show Ripple working with Epstein but reflects early competition between Bitcoin and projects like Ripple and Stellar. Hill reportedly pressured Epstein and Ito to reduce or remove support for Blockstream unless they “picked a horse” in the crypto race.

My two cents on the Ripple/Stellar Epstein file mention

The email mentions four people:
Austin Hill (author)
Jeffrey Epstein (recipient)
Joichi Ito (recipient)
Reid Hoffman (CC)

Austin Hill was the CEO and co-founder of Blockstream at the time, a company focused on Bitcoin.… https://t.co/mliy9AQI0G pic.twitter.com/vvypjrnUw8

— Leonidas (@LeoHadjiloizou) January 31, 2026

Ripple CTO Emeritus clears the air

Ripple CTO David Schwartz responded to the recent claims, stating that he knows of no “connection between Epstein and Ripple, XRP, or Stellar.” 

In an X post on Saturday, Schwartz said that he knows of no evidence suggesting anyone at Ripple or Stellar ever met Epstein or people closely linked to him.

I don't know of any connections between Jeffrey Epstein and Ripple, XRP, or Stellar. I know of any evidence anyone at Ripple or Stellar ever met with Epstein or anyone closely connected to him. There are some indirect ties between Epstein and people connected to Bitcoin in…

— David 'JoelKatz' Schwartz (@JoelKatz) January 31, 2026

He added that while some tech and people in the crypto industry had indirect links to Epstein, this is not unusual because he knew many wealthy and influential figures. Schwartz said the rumors were caused by misunderstandings of old emails from 2014, which he described as efforts by Bitcoin supporters trying to influence investors during an early competition in the crypto industry.

He also said that back then, few people imagined that giving out most of a cryptocurrency’s supply could later be worth billions of dollars. Schwartz made it clear that criticism of Ripple’s structure has nothing to do with Epstein.

Connection between Joichi Ito, MIT, and Epstein 

Joichi Ito had links across multiple tech and crypto projects. He co-founded Digital Garage, which invested in Blockstream, and served as an advisor to the Stellar Foundation in 2014. He was also connected to Epstein through donations made to the MIT Media Lab.

Ito later issued a public apology, saying, “I take full responsibility for my error in judgment. I am deeply sorry to the survivors, to the Media Lab, and to the MIT community for bringing such a person into our network.” He confirmed the lab received money from Epstein-linked foundations and promised to return the funds or donate an equivalent amount to nonprofit organizations supporting survivors of trafficking.

Also Read: XRP Ledger Token Escrow Amendment Enters Activation Countdown

The XRP Ledger Token Escrow amendment has officially entered its activation period. The update was confirmed by XRP Ledger validator Vet after the proposal reached the required support from network validators.

The proposal has now started its two-week activation timer following an 82.35% consensus, backed by 28 “yes” votes. Data from xrpscan shows the expected activation date is scheduled for February 12, 2026, at 9:21:01 p.m. UTC. A live countdown is already running, showing just under two weeks left before the feature becomes active on the XRP Ledger main network.

Token Escrow amendment is now officially in 2 weeks activation with 28 Yes votes.

Token Escrow allows you to escrow any issued on the XRP Ledger, think of RLUSD, Meme Coins, Real World assets.

Important tool for the ecosystem! https://t.co/AGlSF3x2IY pic.twitter.com/xYxeUpMJg5

— Vet (@Vet_X0) January 29, 2026

In an X post on Friday, Vet explained that this amendment will allow users to place many different tokens into escrow, not just XRP. This includes stablecoins like RLUSD, project tokens, meme coins, and even real-world asset tokens issued on the XRP Ledger.

He described the Token Escrow as an important tool because it gives the ecosystem more ways to lock tokens safely and use them in new financial setups.

“Token Escrow allows you to escrow any issued on the XRP Ledger, think of RLUSD, Meme Coins, Real World assets. Important tool for the ecosystem!” he wrote. 

How Token Escrow works

The amendment extends escrow beyond XRP to fungible tokens, making it possible for Trustline Tokens and Multi-Purpose Tokens (MPTs) to be held in escrow directly on the ledger. The amendment brings changes to ledger objects, transaction types, and transaction processing rules. These updates are designed to support token escrows while still keeping the ledger secure and respecting the controls set by token issuers.

The Token Escrow amendment, also known as XLS-85, allows users to lock tokens in time-based escrows or condition-based escrows without needing a third-party service. This makes it easier for projects to create clear vesting schedules and complete trustless deals directly on the blockchain. A companion fix amendment is also planned to solve a bug linked to transfer fees on multi-purpose tokens. Both changes still require validator approval, with at least 80% consensus needed for final activation.

Important issuer rules also apply. For Trustline Tokens to be escrowed, the issuing account must enable the Allow Trust Line Locking flag. For MPTs, issuers must turn on the Can Escrow and Can Transfer flags when creating the token.

They cannot create escrows with their own issued tokens, but they can still receive escrowed tokens as recipients. If a token requires authorization, the sender must be pre-approved by the issuer before creating an escrow, and both sender and recipient must remain authorized throughout the process.

Recent XRPL upgrades

The amendment comes during a busy period for XRP Ledger development. XRPL recently released version 3.1.0, which includes Single Asset Vaults, a Lending Protocol, and bug fixes.

At the same time, several fixed amendments from XRPL version 3.0.0 have already gone live on the XRP Ledger mainnet. These include:

• fixTokenEscrowV1 
• fixIncludeKeyletFields 
• fixMPTDeliveredAmount 
• fixAMMClawbackRounding 
• fixPriceOracleOrder 

The fixTokenEscrowV1 amendment fixes a minor accounting error in the handling of MPT escrows.

Another proposal, the permissioned domains amendment (XLS-80), has also reached a majority vote and is now in its own countdown period, with about 4 days and 18 hours remaining, according to xrpscan data.

All these changes show that the XRP Ledger is moving quickly, with multiple upgrades being introduced and voted on by validators in the coming days.

Also Read: US Court Tosses XRP Investor Lawsuit Against Ripple

Hong Kong is getting ready to officially authorize stablecoin companies. The Hong Kong Monetary Authority (HKMA) is preparing to formally authorize them under its newly implemented Stablecoin Ordinance. The regulator also confirmed that companies can now submit applications to operate legally.

The update was shared by the Secretary for Financial Services and the Treasury, Christopher Hui, during a Legislative Council briefing on Friday. Once approved, companies will be allowed to issue Hong Kong dollar–backed stablecoins under a regulated framework.

Clear rules for stablecoin issuers

The license comes with strict requirements to ensure the system remains safe for users. For instance, the issuer must always have all coins backed by real assets, such as cash and government securities. In addition, they must keep their assets separate from the company’s assets and hold them in a trust account.

Stablecoin holders can redeem their coins at face value without paying extra fees. Companies that have yet to get licensed must also have at least HK$25 million (roughly $3.3 million) in paid-up capital and a physical office in Hong Kong. They also must comply with strict anti-money laundering requirements.

Authorities confirmed that some applications are currently under review, and officials expect to start granting licenses in the first quarter of 2026. Officials say the process is cautious but designed to give businesses a clear roadmap while keeping investors safe.

Expanding crypto oversight

Hong Kong is also preparing to roll out rules for crypto trading platforms, as well as custody services, advisory services, and asset management. A law regarding these areas has already been drafted and will be submitted to the Legislative Council later this year. 

The city is also planning to introduce automatic tax reporting for cryptocurrency transactions starting in 2028, following international rules set by the OECD. This would let authorities share transaction info across borders.

All of these changes in the Hong Kong crypto policies are in line with the country’s 15th Five-Year Plan, which is a strategic roadmap to guide the nation’s economic and social growth as it seeks to maintain its position as the global financial hub.

The changes are designed to protect consumers but also provide a pathway to allow the digital asset market to grow responsibly. Clear rules for reserves, redemption, and custody are meant to prevent market shocks, like those caused by algorithmic stablecoins in other countries.

As a result, Hong Kong is positioning itself as one of the few major financial centers with a clear and regulated path for stablecoin businesses.

Also Read: Why Trump is Taking His Own Government to the Court

The governor of the Czech National Bank (CNB), Aleš Michl, has urged the financial sector to explore Bitcoin and other digital assets in reserves. He said the central bank is taking steps in learning about cryptocurrencies, stablecoins, and tokenized deposits.

In an X post on Friday, Michl wrote, “Don’t fight the future. Build it. Test it. Understand it. See you at @TheBitcoinConf.” He also encouraged banks, investors, and the public to understand these new technologies that could change how traditional financing works.

Don’t fight the future.
Build it. Test it. Understand it.
See you at @TheBitcoinConf.
First central bank testing Bitcoin, USD stablecoins, and tokenised deposits.
Here’s a snapshot of what we’re building at @CNB_cz for the future: https://t.co/9HgMhx4Abp pic.twitter.com/irewD0Qtyj

— Aleš Michl (@MICHLiq_) January 30, 2026

CNB’s push for Bitcoin and digital assets

The comment follows the CNB’s launch of a small Bitcoin and digital asset pilot to learn more about blockchain and the future of finance. The program began in November 2025 with a $1 million test portfolio.

According to the previous report, the goal of the test is not to make any major investment but to understand how the assets work and how they could affect the traditional payment system and reverse management. The project is being done through its special innovation unit called CNB Lab, with a test portfolio including Bitcoin, USD stablecoins, and USD tokenized deposits.

Previously, the bank said Bitcoin was bought on a regulated exchange, and the process took about three weeks because of strict KYC and AML checks. The pilot will test different ways of buying and storing these assets safely. It is also studying how blockchain works in real situations, including key security, approval steps, crisis handling, and compliance rules. The CNB expects a full review of the pilot in the next two to three years.

Michl’s view on Bitcoin 

This is not the first time Governor Michl has been pushing for the adoption of Bitcoin. Last year, he said Bitcoin could be useful for diversifying the bank’s reserves.

“For the diversification of our assets, bitcoin seems good,” he said, adding that it has “zero correlation to bonds” and could be worth considering for a large portfolio. However, he stressed that careful study was still needed before taking any real step in investing.

In another detailed statement, Michl warned that crypto investing is not for everyone. He advised people to be extremely cautious and only invest in things they truly understand. He compared today’s crypto market to the early investment boom in the Czech Republic during the 1990s, when many funds appeared and later collapsed. He explained that the crypto space will likely see both big successes and painful failures.

Michl also made it clear that Bitcoin is highly risky because of its sharp price swings. He said Bitcoin could end up having two extreme outcomes, either becoming very valuable or dropping to zero. Still, he believes central bankers should study it closely instead of ignoring it. “Studying bitcoin won’t harm us – on the contrary, it will strengthen us,” he noted.

CNB flags risks alongside pilot program

The Czech National Bank has recently shared research suggesting Bitcoin could improve returns in some cases. According to CNB backtests, if the bank had held 5% of its reserves in Bitcoin over the past decade, yearly returns could have risen by about 3.5 percentage points. However, volatility would have doubled, showing how unstable such an asset can be.

The CNB also warned citizens about financial dangers. In a recent public notice, the bank urged people to stay alert to fraudsters, online scams, hidden fees, and fake crypto promotions. It also reminded investors not to rely on advice from influencers who may not have their best interests in mind.

Odhalte včas podvodníky a vyvarujte se nástrahám finančního trhu. 🛡️🧨 Praktické rady a užitečné informace, které vám pomohou lépe se orientovat ve světe financí, u nás nově najdete na jednom místě! 👇🏻

➡️ https://t.co/sX4dKsDm5b ⬅️

ONLINE PODVODY
Podvodníci přicházejí s čím dál… pic.twitter.com/opakZkBNeT

— Česká národní banka (@CNB_cz) January 30, 2026

“Always remember to verify the identity of the other party. We regularly issue warnings about entities that show signs of fraud or do not hold the appropriate authorisation from the CNB,” the bank said.

For now, the Bitcoin test remains small, controlled, and focused on learning. The bank says the pilot is meant to gain real experience with blockchain processes, while the final evaluation will take place over the next two to three years.

Also Read: U.S. Government Builds Cash Reserves Ahead of Possible Shutdown

Strategy Inc. (NASDAQ: MSTR), the Bitcoin-focused treasury firm, saw its stock drop sharply on Thursday, falling as much as 11.85% during the afternoon trading session. The stock was currently trading for $140.18, close to the bottom of its 52-week range.

The decline came as Bitcoin (BTC) fell under $85,000, reacting immediately as the company holds a huge amount of Bitcoin; its stock often moves even more strongly than BTC itself. 

Bitcoins fell roughly 6% from the previous day. Earlier this week, it had briefly gone above $90,000 but quickly reversed and fell back. The token is trading around $84,300. At one point, the price was near $83,559, down about 7% in a single day. 

Trading activity also jumped strongly, with volume rising over 35% to above $55 billion, as traders began to close positions by panic selling. Bitcoin’s total market value also dropped by around 6.73% to $1.68 trillion.

Holding 3.4% of Bitcoin’s total supply

Strategy is known today as a “bitcoin treasury firm,” while still running its enterprise analytics software business. Earlier this week, the company purchased 2,932 BTC for $264 million, bringing its total Bitcoin holdings to 712,647 BTC, which is roughly 3.4% of Bitcoin’s fixed supply. 

The firm paid an average price of $90,061 per coin for the recent purchase. Overall, Strategy has spent about $54.2 billion to acquire all its Bitcoin, with an average cost of $76,037 per coin.

The company funded this purchase through its at-the-market stock offering program. Strategy sold about 1.57 million shares of its Class A stock, raising roughly $257 million in net proceeds. It also sold 70,201 shares of its preferred stock, bringing in another $7 million. The company said it still has about $8.17 billion available for future stock issuance under its program. 

At the previous price, the company’s holding was worth around $63 billion. However, with the current market dip, that figure has declined to about $58.95 billion, still more than some countries’ reserves.

Other Bitcoin-holding firms saw similar drops

Marathon Digital, another Bitcoin holding company, saw its stock drop by 6.65% due to the price drop in Bitcoin. The stock is currently trading for $9.67 from an intraday high of $10.2. The company holds about 52,850 BTC, which was valued at approximately $6.12 billion.

Share of Japan-based Metaplanet also fell nearly 4%, according to Yahoo Finance. The drop comes weeks after the company shared that it recorded a 104.6 billion yen (roughly $680 million) loss on its Bitcoin holdings last year. 

In short, companies like Strategy move with Bitcoin like a high-speed mirror. The company’s large Bitcoin holdings make it both powerful in the crypto market and vulnerable to price swings.

Also Read: Gold Prices Crash: Sheds More Than Whole Crypto Market

Bitcoin (BTC) has fallen below $85,000 again, currently trading near $84,704 after losing roughly 6.15% in the past 24 hours. The drop came after Bitcoin briefly reached highs above $90,000 earlier in the week.

Trading activity is up by 35% in the last 24 hours, resulting in over $55 billion in volume. However, the selling pressure suggests this is just traders selling their positions instead of buying.

This price drop came after the cryptocurrency failed to hold about key technical levels. After briefly crossing $90,000, the token quickly reversed, dropping to lows around $84,416, before moving up slightly. As a result, Bitcoin’s total market capitalization has dropped by 6.73% to $1.68 trillion.

Rate outlook and stock market volatility hit crypto

The drop comes amid recent macro events, including the U.S. Federal Reserve reporting today that the labor market is strong, with unemployment at 4.4%. With this, there was no signal reason for urgent rate cuts, which has influenced investors’ decisions, especially toward Bitcoin, which is seen as a risky asset.

Meanwhile, volatility in traditional markets intensified. Microsoft shares fell more than 11% after the company reported a steep growth in its cloud business, which was weaker than investors expected. This dragged the Nasdaq down by about 1.5%, increasing selling pressure across tech stocks.

The S&P 500 fell 1.2%, while the Dow Jones Industrial Average lost 304 points. The S&P 500 Volatility Index jumped to 19, its second-highest level since November, showing rising uncertainty in the market. At the same time, the DXY index, which tracks the U.S. dollar, rebounded to 96.6, putting extra pressure on risk assets like Bitcoin.

Nearly $850 million liquidated in 24 hours 

This turbulence in the stock market spilled over into the crypto market. Aside from Bitcoin, the overall market felt it, leading to a 4% drop in total market valuation from $2.91 trillion down to $2.87 trillion.

Major altcoins, including Ethereum, Solana, Dogecoin, and Cardano, lost between 5% and 6% during the same period. As a result, 216,843 traders were liquidated from the market. According to CoinGlass, around $849.73 million was liquidated in total. $730 million from the amount came from traders who had bet on prices going up, while $119 million came from short position traders.

Corporate Bitcoin holders also felt the impact, with Strategy (MSTR) down 8%, marking its worst day since December 12 and returning to September 2024 levels. Circle (CRCL) and Coinbase (COIN) posted losses between 4% and 8%.

Bitcoin to test key support levels at $80K

Looking at the chart on the daily timeframe, Bitcoin is dropping to $80k, where the nearest support level is located. The price has tested this zone multiple times, which could act as a critical level for stabilization in the coming days.

Moreover, the Relative Strength Index (RSI) is at 33, while the moving average is at 46. This confirms that the price is currently controlled by the seller. However, it is approaching an oversold condition, which could act as a stable position for buyers to take over. 

$8 billion in Bitcoin options set to expire

Looking ahead, traders are preparing for Friday’s Bitcoin options expiry, which is expected to be one of the largest this year. Options worth $8.27 billion will expire on Deribit at 8:00 UTC, the world’s largest crypto derivatives exchange. Traders appear bullish heading into the expiry, as the max pain price remains well above the current price at $90,000, with the put-call ratio standing at 0.56, showing more calls than puts.

🚨 Options Expiry Alert 🚨

At 8:00 UTC tomorrow, over $9.5B in crypto options are set to expire.$BTC: $8.27B notional | Put/Call: 0.54 | Max Pain: $90K$ETH: $1.27B notional | Put/Call: 0.74 | Max Pain: $3.1K

BTC is trading sideways just under $90K going into expiry, while… pic.twitter.com/vEXRIaIreO

— Deribit (@DeribitOfficial) January 29, 2026

Options allow traders to lock in prices now for future buying or selling, and the expiry could influence Bitcoin’s price action next week, especially if the Fed signals easier monetary policy.

Also Read: Bitcoin May Surge if Fed Intervenes in Yen, JGB Markets: Arthur Hayes

Avalanche (AVAX) is facing renewed pressure after breaking below a key support level near $12. The token is currently trading around $11.07, marking an 8% drop in the last 24 hours from an intraday high of $12.10.

Trading activity has also dropped by 6.18%, recording about $295 million in trading volume, while the market cap sits at $4.8 billion.

AVAX’s market structure is pushing bearish momentum as sellers continue to control the trend. Looking at the chart on the daily, the price has initially tapped up the current support zone it is in, which propelled it up to $12.22 before dropping again.

Meanwhile, this downtrend is shared across all altcoins as the overall market dropped by 2.04% to $2.94 trillion in the last 24 hours, influenced by a 2.34% drop in Bitcoin, the largest cryptocurrency, which saw its price fall below $90,000. AVAX happens to be one of the altcoins that is highly influenced by Bitcoin’s price action. If Bitcoin falls, AVAX could face more downside pressure before finding another strong support. 

Analyst Jesse Peralta noted in a recent post on X that the AVAX/BTC pair remains stuck in a descending channel, with risk of falling toward the 0.000110 BTC region if support breaks. This matters because when AVAX cannot outperform Bitcoin, it often drops harder during market pullbacks.

$AVAXBTC looks weak here!

Could drop to 0.000110BTC pic.twitter.com/JXuteZOMcB

— Jesse Peralta (@TheJessePeralta) January 29, 2026

Traders stay cautious despite ETF spotlight

Derivatives are also printing similar pictures. According to Coinglass, AVAX future volume is down 8.33% to $574 million in volume, while its open interest has also dropped by 3.27% to about $463 million. This means that traders are being cautious of the market as they slow down on opening new positions.

At the same time, over $881,000 has been liquidated from the market in the last 24 hours. $838,000 from that amount came from traders who had bet on the price going up, while $42,740 came from short position traders.

Meanwhile, the token is gaining attention in the traditional market as VanEck launched the first U.S.-listed Avalanche ETF on January 26. The ETF, which trades on Nasdaq under the ticker VAVX, is designed to allow investors to get exposure to AVAX without directly buying or holding the token. VanEck has also waived fees on the first $500 million in assets until late February. However, the ETF has not yet triggered a strong price jump.

AVAX heads straight for $10 support level

On the daily chart, AVAX has broken another key support at $11 and is heading toward the weekly support level at $10.94. In short, the price disrespected the $12 support level with a break of structure to the downside despite a short rally from December 2025.

If the current daily candle takes liquidity and rejects, it could spark a possible rally, with momentum to break out above $13 or push the price toward $14.80–$15. However, if the candle closes in a solid, the price would have to test the $10.94 support level to gather enough momentum for a possible rally.

Moreover, the Relative Strength Index (RSI) is currently at 39, while the moving average is at 32. This means that the sellers are still controlling the market, but a switch could happen if it enters an oversold condition.

Also Read: Crypto Trader Makes $2M in 24 Hours on Hyperliquid Amid HYPE Rally

The Senate Agriculture Committee voted on Thursday to move forward with the crypto market structure bill, sending it to the full Senate floor without support from both parties. The committee has reportedly approved the bill in a close 12-11 vote, giving new regulatory powers to the Commodity Futures Trading Commission (CFTC) over digital tokens.

The bill will later need to be merged with another part overseen by the Senate Banking Committee, which focuses on the Securities and Exchange Commission (SEC).

Under Chairman @JohnBoozman’s leadership, the Senate Ag Committee advanced crypto market structure legislation. This is a big move for consumer protection and innovation. pic.twitter.com/w0KpL2WXWM

— Senate Ag Committee Republicans (@SenateAgGOP) January 29, 2026

The vote follows months of delay and discussion between Agriculture Committee Chairman John Boozman, a Republican from Arkansas, and Sen. Cory Booker, a Democrat from New Jersey. However, an agreement was not made, so Boozman moved forward with a Republican-only bill. “There were fundamental policy disagreements,” Boozman said. He added, “It is now time to move this process forward.”

He described the bill as defining digital commodities clearly and providing the CFTC with the resources to take on its new responsibilities.

Democrats oppose party-line votes and amendments

Sen. Cory Booker criticized the GOP-only approach, saying Republicans abandoned the bipartisan process. That frustrates me because I see a bipartisan glide path to land this plane, to punch through the end zone,” he said.

Several Democratic-backed amendments were rejected, including a proposal from Sen. Michael Bennet that would stop federal officials and their families from issuing or endorsing digital assets. Other proposals, including measures to prevent crypto ATM fraud and to stop some crypto firms from getting federal bailouts, were also voted down along party lines.

Senator Amy Klobuchar, the committee’s ranking Democrat, said that while progress was made, more work is needed. “The progress that has been made here is good, but I think we believe that we’re not quite done yet,” she said.

Boozman noted that the bill can still be updated through manager amendments before it reaches the full Senate. He also agreed that the CFTC should have a full team of commissioners as it takes on crypto oversight.

Next steps for crypto oversight

After clearing the Agriculture Committee, the bill must pass the Senate Banking Committee and then be combined with its counterpart from the House. The House has already passed a version of the bill with strong support.

Meanwhile, the White House is expected to host another meeting next week to bring together crypto, banking, and political interests. U.S. President Donald Trump and his representatives have opposed some ethics provisions that Democrats wanted in the bill, citing conflicts of interest concerns.

This development represents one of the furthest steps the crypto industry has achieved in Congress. Last year, the space secured a major victory when the GENIUS Act bill, aimed at regulating stablecoins, was passed into law.

If this new bill is passed, it would give investors more confidence to trade digital assets and spread the adoption of cryptocurrency.

Also Read: Crypto in 401(k)s? SEC Chair Paul Atkins Says ‘Time is Right’

Bipartisan U.S. senators are preparing to vote on a major crypto market structure bill on Thursday in Washington, D.C., following an earlier delay this week due to bad weather. Lawmakers are expected to appear on Capitol Hill to discuss proposed changes and decide whether to add the bill to the CLARITY Act.

This markup is the first major attempt to advance the bill after the Senate Banking Committee delayed its own markup when Coinbase withdrew its support.

Senators introduce new changes to the bill

Multiple lawmakers have submitted amendments to adjust the bill before a final vote. Senator Michael Bennet of Colorado suggested rules to limit crypto holdings and activities for government officials and their families, which include the U.S. president, the Vice President, and United States Representatives. This is to avoid conflict of interest, though it is not yet clear if the committee will approve this proposal.

Senator Amy Klobuchar of Minnesota filed two amendments. One would delay the bill until the Commodity Futures Trading Commission (CFTC) has at least four commissioners, including two from the minority party. The second amendment narrows the definition of a “retail participant” and clarifies the responsibilities of the Digital Commodity Retail Advocate, a role meant to protect small investors.

Senator Dick Durbin proposed measures to ban bailouts for crypto issues and add rules to stop fraud in crypto ATMs. Meanwhile, Senators Tommy Tuberville and Jerry Moran introduced proposals aimed at limiting foreign adversaries from participating in U.S. crypto markets.

These amendments focus on improving oversight and protecting U.S. investors. Senators will discuss each proposal before voting, and all committee members are expected to attend after the weather is clear.

Push for clear crypto rules

In a video posted on X, Senator Kirsten Gillibrand highlighted the need for clear guidelines for the crypto market. She said the bill is essential so that companies and investors can understand how to follow the law. She highlighted that proper regulations would protect consumers and make sure buyers know the risks.

Common-sense crypto market structure regulation will protect consumers and market players alike.

It's a win-win. pic.twitter.com/NbXeytRFQY

— Kirsten Gillibrand (@SenGillibrand) January 27, 2026

“The need for market structure regulation could not be more important. We need these rules on the road so participants know how to do things legally and appropriately,” she said.

She added that clear rules would help crypto companies continue operating in the U.S., and also support New York’s position as a global financial hub.

The committee will review and vote on each amendment before deciding whether to send the bill to the Senate floor. Some senators, including Roger Marshall and Dick Durbin, expressed that they will not push their credit card swipe fee proposal during the markup. The process will be observed by the crypto space as the Senate faces the government funding deadline, which could lead to a shutdown if not resolved.

Also Read: Kansas Proposes Bitcoin Reserve Using Unclaimed Digital Assets

A U.S. federal appeals court has dismissed a lawsuit against Ripple Labs, the company behind the cryptocurrency XRP, ruling that the case was filed too late under securities law. The lawsuit, brought by investor Bradley Sostack, alleged that Ripple sold XRP as an unregistered security. 

In a recent filing, the Ninth Circuit Court ruled that Ripple started offering XRP to the public in 2013, and U.S. law only allows claims like this to be filed within three years. The court also said that XRP sales in 2017 were not a separate offering. As a result, Ripple does not have to face federal securities claims from the investor.

Investor lawsuit dismissed for being late

Sostack filed his complaint in 2019, six years after XRP was first sold to the public. He argued that the monthly XRP sales from Ripple’s escrow account should count as ongoing offerings. However, the court rejected this claim. It said the 2017 XRP sales were part of the original offering in 2013 and did not reset the three-year time limit for lawsuits.

XRP was created in 2012 through the XRP Ledger. Ripple Labs received 80 billion of the 100 billion tokens that were created. The ledger became available to the public either in 2012 or early 2013. In 2017, Ripple began releasing one billion XRP each month from its holdings. Thousands of users bought XRP during these sales, including via the ledger’s built-in exchange.

Sostack claimed that these later sales made XRP a continuing offering, but the court disagreed, saying all XRP stayed the same and were part of the original sale.

Another legal win for Ripple

This is another major win for Ripple. It follows the firm’s settlement with the U.S. Securities and Exchange Commission (SEC) in August 2025, which ended a nearly five-year legal battle. The agency accused Ripple of raising $1.3 billion by selling XRP without registering it as a security. As part of the settlement, Ripple was ordered to pay a $125 million penalty to the SEC, which had already been placed in escrow.

XRP hasn’t really reacted to the recent development. At the time of writing, the token is trading for $1.90. This is just a modest 0.08% drop from the previous day, with a 14% surge in trading activity reaching about $2.39 billion in trading activity with its market cap sitting at $116 billion.

This dismissal is another big win for Ripple. The case added to the debate that questions whether XRP is an unregistered security, a topic that has caused a lot of talk in the crypto world.

Also Read: Ripple Launches Treasury Platform to Target Enterprise Cash

Nigeria’s crackdown on crypto exchanges continues to intensify as regulators tighten rules on crypto exchanges. Over the past few years, authorities have increased oversight and placed heavy restrictions on banks, exchanges, and even crypto transfer services like peer-to-peer trading, making it harder for both users and businesses to trade freely. 

The latest development comes from Quidax, a Nigerian crypto exchange that has halted its peer-to-peer (P2P) trading service in the country just five months after it went live, according to a local report.

This decision seemingly follows increased regulatory pressure on crypto platforms, especially those involved in direct user-to-user transactions. It has also sparked a debate in the Nigerian crypto space on whether the government is trying to slow down the use of crypto in the country or turn it off completely.

Why P2P trading became popular in Nigeria

Peer-to-peer trading (P2P) has been one of the most common ways Nigerians transfer money with each other, either locally or internationally. The system allows users to trade directly with one another instead of going through the exchange itself. The payments are usually made through bank transfers, which the platform acts as a meeting point, in many cases, an escrow service.

The trading model made crypto easy for citizens to access and helped keep trading active even during periods when banks were restricted from offering crypto services. It also helped improve liquidity and allowed users to easily find buyers and sellers at any time.

However, the Nigerian regulators have long viewed it as a problem. Authorities claim that the system has been used by criminals to carry out fraud and move illegal money to avoid transaction trails, as well as to influence exchange rates outside official markets.

Quidax’s solution to the issue 

Initially, Quidax tried to address this issue by introducing strict control when it launched its P2P service. Users who wanted to operate as merchants were required to complete full identity checks, including two-factor authentication, and go through an approval process before being allowed to trade. Only verified traders were allowed to post ads and interact with customers.

Still, with the measure, the feature was still suspended, which suggested that the effort was to keep P2P activity within a controlled environment that regulators could monitor. However, even with these safeguards, the P2P feature was still suspended, showing that the effort to comply alone was not enough under the current regulations.

However, the exchange clarified that while P2P trading has been paused, other services remain active. Users can still access instant swaps and order-book trading.

Adoption despite regulatory crackdown

Despite this crackdown on crypto, Nigeria remains the largest crypto market in Africa. From 2024 to 2025 alone, the country processed around $92.1 billion in crypto transactions, which is three times that of other major African countries like South Africa. 

Last year, the House of Representatives, in a public hearing held in Abuja, Nigeria, also urged authorities to stop viewing young Nigerians as internet fraudsters. In a previous report, a member of the house, Olufemi Bamisile, said that the security agencies, including the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU), should stop the ‘misplaced aggression on Nigerians that trade crypto,’ saying that not every young person with a crypto wallet is a fraudster.

In short, Nigeria’s crypto market seems to be entering a new phase. Crypto is still active in Nigeria, but platforms are being forced to drop or rethink services that regulators see as risky. For now, P2P trading appears to be the most affected, even as other parts of the market continue to operate.

Also Read: Nigeria to Track Citizens’ Crypto Income Using National ID, TIN

Japan’s Financial Services Agency (FSA) is seeking opinions from the public concerning new draft rules that will govern how stablecoins are backed and how crypto-related services are supervised under the country’s updated payments law.

This process is open until February 27, 2026, and follows previous changes on the Payment Services Act, which was passed in June 2025 to set the rules for how money and electronic payments are handled in the country.

In a statement released on Monday, the FSA said it has prepared a set of draft regulatory notices linked to Act No. 66 of 2025. These notices are part of the country’s overhaul of rules that cover its settlement system and electronic payment methods. The agency explained that the drafts are meant to define how regulated stablecoins should be backed and supervised under the law.

Clear rules for stablecoin reserve assets

One major part of the rules focuses on reserve assets used by regulated stablecoins that rely on trust structures. In Japan, companies that issue stablecoins often rely on a structure known as “specified trust beneficiary interests.” The new rules explain how assets under this structure can be invested and what types of financial products are allowed to support stablecoin value.

According to the draft notice, only certain foreign-issued bonds will qualify as reserve assets. The FSA said these bonds must meet two conditions. First, they must carry a very high credit rating and fall within a credit risk category of “1–2” or higher, as assessed by an approved rating agency. Second, the foreign issuer must have a very large bond market, with at least 100 trillion yen in bonds already issued.

New guidelines for banks and subsidiaries

The regulator also released updated supervisory guidelines for banks, insurance companies, and their subsidiaries. A newly added rule says that when a subsidiary offers cryptocurrency intermediation services, it must give customers clear and appropriate explanations about the risk involved.

The FSA said the measure is to prevent people from thinking a crypto product is safe just because it is offered by a well-known financial group.

For companies that want to handle stablecoins issued outside Japan, the draft rules add another requirement. Firms must explain that the foreign issuer will not issue, redeem, or actively promote stablecoins to everyday users in Japan. The FSA said it will also work with overseas regulators to share information about these stablecoins and their issuers.

Japan’s push for a regulated stablecoin market

The consultation is part of Japan’s attempt to build a regulated stablecoin environment. In October 2025, local fintech company JPYC launched what it described as Japan’s first legally recognized yen-backed stablecoin.

The country’s three major banks, MUFG, SMBC, and Mizuho, have also been testing stablecoins and tokenized deposits for payments and settlements, with formal backing from the FSA in December.

With the stablecoin market becoming a thing of interest in the country. Japan is pushing to protect customers by making sure banks and subsidiaries explain risks when offering crypto services. Limiting eligible reserve assets to high-quality foreign bonds reduces financial risk and ensures stability. The FSA said the rules will be finalized after the public comment period ends and will be enforced following the necessary legal steps.

Also Read: Japan May Allow Crypto ETFs by 2028 as Global Markets Move Ahead

U.S. authorities have arrested Ryan Wedding, a former Canadian Olympic snowboarder, accusing him of leading a violent drug trafficking network that relied heavily on cryptocurrency and stablecoins to move and hide illegal money.

In an X post, FBI Director Kash Patel confirmed Wedding’s arrest. He was reportedly apprehended in Mexico City on Friday and is being transferred to the United States to face charges tied to cocaine trafficking, murder, and financial crimes linked to digital assets.

Thanks to President Trump’s leadership and commitment to global law enforcement – as of this morning, the DOJ/FBI officially apprehended our SIXTH Top Ten Most Wanted Fugitive within the last year. Thank you to @AGPamBondi for her relentless pursuit of justice, the US Attorney’s… pic.twitter.com/fnSP4IXQRI

— FBI Director Kash Patel (@FBIDirectorKash) January 23, 2026

Wedding had been on the FBI’s Ten Most Wanted Fugitives list since early 2025, with a reward of up to $15 million offered for information leading to his capture.

According to U.S. prosecutors, Wedding led a transnational drug operation that moved hundreds of kilograms of cocaine from Colombia through Mexico and Southern California before distributing it across the United States and Canada. Authorities say the group worked alongside Mexico’s Sinaloa cartel and operated across multiple jurisdictions, making it difficult to track using traditional financial systems.

Running money laundering through cryptocurrency

U.S. Treasury officials have identified cryptocurrency as a core financial tool used by Wedding’s organization. In November, the Treasury Department’s Office of Foreign Assets Control sanctioned Wedding, his associates, and front companies, stating that the network used crypto and stablecoins to move and launder drug proceeds while hiding their origins.

Court documents and Treasury sanctions link the operation to multiple major blockchains, including Bitcoin, Ethereum, Tron, Solana, and BNB Chain. Prosecutors also cited stablecoin use in drug transactions, including a recorded transfer of around 17,300 USDT in a cocaine exchange. Authorities have not disclosed the full scale of on-chain activity but described the operation as a multi-chain laundering network.

As part of the sanctions, Treasury officials added more than a dozen crypto wallet addresses tied to Wedding and his associates. Officials described the setup as a multi-chain laundering operation that matched the scale of the alleged drug trafficking activity.

Legal charges

Wedding is also accused of ordering violent attacks to protect his drug network. In June 2024, a superseding indictment charged him with running a continuing criminal enterprise, major drug trafficking crimes, and murder. Authorities allege he ordered killings over stolen drugs and unpaid debts in Canada and Colombia.

One major accusation is the January 2025 murder of a federal witness in the case in Colombia. According to authorities, the witness had provided information to investigators and was expected to testify against Wedding and his associates. Prosecutors say Wedding placed a bounty on the witness and ordered the killing.

When announcing Wedding’s placement on the most wanted list, Akil Davis, Assistant Director of the FBI’s Los Angeles Field Office, said, “Wedding went from shredding powder on the slopes at the Olympics to distributing powder cocaine on the streets of U.S. cities and in his native Canada.”

Wedding is also accused of working with senior figures in the drug trade and hiding in Mexico under cartel protection while using aliases to avoid capture. Authorities say he had been on the run for more than a decade before his arrest.

Also Read: Nigeria Uncovers N162B Crypto Fraud Involving Banks and Fintechs

CertiK, a New York-based blockchain security firm, is planning an initial public offering as it continues to grow its business and attract major investors.

Speaking at the World Economic Forum on Thursday, CEO and co-founder Ronghui Gu described the move as a “natural next step” as the company seeks to bridge the gap between decentralized technology and traditional institutional finance. He told Acumen Media, “ We still do not have a very concrete IPO plan but this is definitely the goal we are pursuing.”

He explained that the firm remains committed to strengthening the trust, security, and transparency that regulators, institutions, and users expect from the Web3 ecosystem.

Strong backing from Binance

Cerkit has reportedly raised $296 million since it was founded in 2018 and reached a valuation of over $2 billion by early 2022. Recently, the firm partnered with YZi Labs, the family office of Binance founder Changpeng Zhao. 

“Recently, Binance also made a follow-up multi-eight-figures investment into CertiK and became our largest investor,” Gu said. The funding is expected to help CertiK expand its products and meet the requirements for institutional clients.

Moreover, Certik is expanding Skynet Enterprise, a security platform designed for regulators and large financial institutions. The firm is also growing its auditing business through formal verification technology powered by its proprietary Spoq engine, which uses artificial intelligence to improve efficiency.

To date, CertiK has audited more than 4,200 blockchain projects and safeguards over $340 billion in digital assets.

CertiK joins IPO trend

CertiK’s IPO bid follows a broader wave of crypto firms going public. Last year, Circle raised $1 billion through its IPO, while companies such as Bullish, Gemini, Galaxy Digital, Figure, and Exodus also entered public markets. More recently, BitGo raised $213 million in its IPO, and firms like Kraken, Ledger, Consensys, and Animoca Brands are preparing their offerings.

The IPO push comes as investors seek more access to crypto infrastructure and service providers.

Addressing past controversies

CertiK has faced multiple controversies in recent years. In 2024, the company’s X account was hacked. It also faced criticism for exploiting a $3 million bug at the crypto exchange Kraken, which it called a “whitehat” test. Later, CertiK apologized for working with a Cambodian marketplace linked to illegal activity.

Despite these issues, the company is moving forward with its IPO plans. This IPO could allow CertiK to connect Web3 security with traditional finance and offer investors exposure to the infrastructure behind decentralized applications.

Also Read: Waltio Files Complaint Over Extortion and Crypto Data Breach

Nigerian authorities have uncovered a large-scale financial fraud involving a new-generation commercial bank, six fintech companies, and several microfinance banks.

The Economic and Financial Crimes Commission (EFCC) said these institutions allowed suspicious crypto transactions to move through their systems without proper checks, helping fraudsters launder huge sums of money.

Weak controls flagged in customer transactions

Authorities said crypto transactions worth N162 billion, along with N18.7 billion in other fraud proceeds, were processed without adequate verification. “A total sum of N18.1 billion was moved through the financial system without due diligence of customers by the banks,” said Wilson Uwujaren, Director of Public Affairs.

Investigators said the banks and fintechs allowed suspicious transactions to pass through their systems, which exposed some serious weaknesses in internal controls. In some cases, criminals were converting stolen funds into digital assets and sending them to accounts outside the country.

In one case, a single person operated 960 accounts in a bank, all used for fraudulent activities. The authorities said they have already recovered N33.62 million and returned it to some victims.

EFCC exposes two major scams 

According to EFCC, two major scams were spotted. The first involved a fake airline ticket scheme. Victims were told they were paying a foreign airline directly for discounted tickets, but after they made payment, funds were emptied from their accounts.

“The payment module was designed in such a way that the victims’ payments appeared to be credited to the airline,” Uwujaren said. Over 700 people lost an estimated N651 million in this scam. Authorities said the scheme was run by a foreign national who recruited young Nigerians to carry out the fraud using specialized software.

The second scam involved a fake investment company known as Fred and Farid Investment, also known as FF Investment. More than 200,000 Nigerians were tricked into buying fake investment plans, which resulted in about N18 billion stolen from them. The company ran through several smaller firms, including Credio Banco Limited, Deliberty Rock Limited, and Newpace Technology Services Limited. Three Nigerian accomplices have been arrested, while the foreign leaders are still on the run.

Crypto push and response

Nigeria remains Africa’s largest crypto market. According to a recent report, the country processed about $92.1 billion in crypto transactions from 2024 to 2025. This is almost three times more than in other major countries in Africa, such as South Africa.

Assets like Bitcoin and stablecoins are used the most, particularly among young, tech-savvy users, students, and entrepreneurs. Recently, the government passed new regulations that allow authorities to tax up to 25% on crypto profits made by citizens.

However, following recent scam reports, authorities have issued a warning that institutions must check their customer records properly and report any suspicious transactions immediately. They said companies that help fraudsters should be suspended and handed over for investigation.

Also Read: Kansas Proposes Bitcoin Reserve Using Unclaimed Digital Assets

Revolut, the UK-based fintech company which also offers crypto trading services, is eyeing to drop its plans to acquire a US bank and will instead apply for a standalone banking license in the United States.

The London-based company is reportedly in discussions with US regulators through the Office of the Comptroller of the Currency (OCC) as part of its plan to expand in the United States, according to the Financial Times. Revolut expects the approval process to move faster under the Trump administration, which has shown a more crypto-friendly stance.

Push for standalone banking license

Revolut had previously thought about buying a local U.S. bank to speed up its entry into all 50 states. However, people familiar with the matter said the purchase would have been slower and more difficult. Acquiring a bank might have required Revolut to maintain physical branches, which does not fit its digital-first model.

Instead, the company is now pursuing a “de novo” banking license, a type of charter for new banks. While no final decision has been made, the US market remains a central part of the company’s global strategy.

Revolut first announced its plan to expand in 2025 and committed $13 billion to support growth over the next five years. The firm was valued at $75 billion in 2025 after a share sale in November, placing it among the world’s most valuable fintech companies. 

The company has also been securing approvals in other countries. It obtained banking licenses in Colombia and Mexico in late 2025 and received a Markets in Crypto-Assets (MiCA) license in Cyprus in October.

Expanding crypto and international presence

Revolut is still in the process of fully rolling out as a bank in the UK, having received a restricted banking license from the Prudential Regulation Authority in 2024, which limits some services. The company has also expanded its crypto offerings, partnering with Trust Wallet to allow instant cryptocurrency purchases in the European Union, with some transactions having zero fees.

The standalone license move comes just a week after Trump family-backed crypto platform World Liberty Financial filed for a national trust bank charter in the US. The company’s subsidiary, WLTC Holdings LLC, applied with the Office of the Comptroller of the Currency (OCC) to create a national trust bank called World Liberty Trust Company.

If approved, the bank would allow the firm to issue, hold, and convert its USD1 stablecoin under federal supervision. In short, these developments show crypto firms trying to combine banking and crypto under one regulated system. This could change how people and businesses manage money, making crypto and traditional banking work together more smoothly in the US.

Also Read: UBS Plans Crypto Trading for Some Clients in Digital-Asset Push

Kansas lawmakers have introduced Senate Bill 352, a proposal that would create a Bitcoin and digital assets reserve fund managed by the state treasury.

The bill was filed this week for the 2026 legislative session in Kansas, United States, and aims to place unclaimed digital assets into a state-controlled reserve to modernize how abandoned property is handled.

If passed, the Kansas State Treasurer would oversee the reserve, which would be funded entirely through digital assets classified as unclaimed property. Kansas law defines abandoned assets as property left inactive for a specific period, after which it must be turned over to the state for safekeeping until claimed by the rightful owner. Senate Bill 352 extends this framework to cover Bitcoin, cryptocurrencies, and other digital-only assets.

Under the proposal, digital assets like Bitcoin and other cryptocurrencies would be treated as abandoned after three years of no activity and failed communication with the owner. Once this happens, the assets would be transferred to the state treasurer or a qualified custodian. These assets could be held in their original form or used for staking, depending on the asset type. 

Unclaimed assets will be used for staking

The proposed bill says these assets could be held in their original form or used for staking, depending on the asset type. Staking is a process where digital assets are locked on a blockchain network to help support and secure it. In return, the holder receives rewards. The bill also allows Kansas to collect staking rewards, airdrops, or interest that come from these abandoned digital assets.

If the original digital assets remain unclaimed three years after being transferred to the state, only the rewards earned from staking or airdrops would be moved into the Bitcoin and digital assets reserve fund. The original assets would still belong to the owner and could be reclaimed later under state law.

Special rules for Bitcoin and oversight

The bill aims to treat Bitcoin differently from other digital assets. While 10% of most non-Bitcoin digital asset deposits would be transferred to Kansas’ general fund, Bitcoin would be excluded from general fund use and kept entirely within the reserve. Instead, Bitcoin would stay fully inside the reserve fund. The proposal also makes it clear that Kansas would not buy Bitcoin directly from the market.

Kansas isn’t the first state to introduce a proposal to create a crypto reserve. Last year, New Hampshire filed a similar proposal, becoming the first state to set up a crypto reserve. 

Texas followed shortly after with Senate Bill 21, introduced by State Senator Charles Schwertner. The bill passed with 105 votes in favor and 23 against. 

At the federal level, U.S. Treasury Secretary Scott Bessent recently reaffirmed that seized Bitcoin would be added to the national digital asset reserve, saying, “The policy of this government is to add seized Bitcoin to our digital asset reserve after the damages are done.”

JUST IN: 🇺🇸 Treasury Sec. Scott Bessent says, “The policy of this government is to add seized #Bitcoin to our digital asset reserve.”
pic.twitter.com/e6X2D4peSv

— Bitcoin Magazine (@BitcoinMagazine) January 20, 2026

The bill has moved from the Federal and State Affairs Committee and is now under review by the Kansas Senate Committee on Financial Institutions and Insurance.

The proposal adds another initiative for how unclaimed properties can be put to use for long-term financial planning. By holding Bitcoin and other assets, the state could benefit from the staking rewards, including interest, without having to spend taxpayer money. Bitcoin adoption has also expanded widely since President Donald Trump came into office, with the U.S. government finding its way to include digital assets in its public finance. 

Also Read: Bitcoin Futures Hit 14-Month High as Market Cap Tops $3 Trillion

For years, investors have argued over whether Bitcoin or Gold is the better hedge against inflation. Bitwise Asset Management has decided that the answer is “Both.” On Thursday, together with Proficio Capital Partners, it launched the Bitwise Proficio Currency Debasement ETF (NYSE: BPRO), a first-of-its-kind exchange-traded fund (ETF) designed to protect investors from the declining value of money.

It allows investors to put their money in assets that usually keep their value, like Bitcoin, gold, silver, other precious metals, and mining companies.

Today, the debasement trade has a new weapon in its arsenal.

Introducing the Bitwise Proficio Currency Debasement ETF (NYSE: BPRO), a first-of-its-kind, actively managed investment strategy targeting assets poised to benefit from the eroding purchasing power of fiat currencies… pic.twitter.com/kpKPFK26p0

— Bitwise (@BitwiseInvest) January 22, 2026

According to the official release, BPRO is actively managed, which means the managers can change how much is invested in each asset depending on the market. At least 25% of the fund will always be in gold. The total expense for investors is 0.96% of the fund each year.

Focus on currency debasement risk

By combining the explosive upside of Bitcoin with the centuries-proven stability of Gold, BPRO aims to modernize the traditional “60/40” portfolio for an era of $38 trillion national debt.

BPRO mixes crypto and commodity-linked assets, which makes it attractive to wealth managers and investors who want Bitcoin exposure without putting all their money in a single crypto product.

“Despite its stellar performance, gold remains a ghost in the modern portfolio. Currency debasement isn’t just a theoretical risk; it is an active tax on every dollar an investor saves,” said Bob Haber, Chief Investment Officer at Proficio Capital Partners.

Why inflation protection matters

This launch arrives at a critical moment. As illustrated by recent market data, Bitcoin and Gold have recently decoupled. BPRO is designed to navigate exactly this kind of environment by providing a hedge against currency debasement. The U.S. dollar lost around 40% of its purchasing power in the last 20 years. At the same time, the national debt grew from $7.5 trillion to nearly $38 trillion. Interest payments on this debt alone are over $1 trillion a year, which is more than what the U.S. spends on defense.

“By combining the historical scarcity of gold with the modern, digital scarcity of Bitcoin, BPRO offers a powerful new way to hedge against the persistent decline of fiat currency. We believe this ‘hard asset’ approach is the missing piece for the modern portfolio,” said Matt Hougan, Chief Investment Officer at Bitwise.

This combined approach allows the fund to shift between Bitcoin, gold, silver, and related assets as market conditions change, using both modern digital tools and traditional hard assets to guide investment decisions. For investors who want crypto exposure but can’t stomach the volatility of a 100% Bitcoin allocation, BPRO offers a regulated, NYSE-traded middle ground.

Also Read: iShares Bitcoin ETP Issues 180K New Securities on London Exchange

Swiss investment firm 21Shares has officially launched the 21Shares Dogecoin ETF (TDOG) on NASDAQ, giving investors direct exposure to Dogecoin without the need for crypto wallets or trading on exchanges.

As announced on Thursday, the exchange-traded fund (ETF) is fully backed, holding Dogecoin on a 1:1 basis in institutional custody. TDOG tracks the spot price of DOGE using the CF Dogecoin-Dollar US Settlement Price Index.

The ETF allows both retail and institutional investors to buy and sell shares using standard brokerage accounts. It charges a 0.50% annual management fee, which is counted every day and paid weekly in DOGE.

For security, the Dogecoin is stored with multiple companies, including Coinbase Custody Trust, Anchorage Digital Bank, and BitGo, while Bank of New York Mellon serves as administrator, cash custodian, and transfer agent. This setup is employed to reduce counterparty risk for investors.

Third Dogecoin ETF approved in the U.S.

TDOG is the third Dogecoin ETF approved in the U.S., following the previous launch by Grayscale and Bitwise in November 2025. However, 21Shares’ ETF is the only one backed by the House of Doge, the corporate side of the Dogecoin Foundation.

This makes the fund more official and gives the company unique marketing rights. Moreover, the approval from the U.S. Securities and Exchange Commission (SEC) confirms that Dogecoin is not considered a security, which allows TDOG to trade under full regulatory oversight.

“TDOG offers investors regulated, physically backed exposure to DOGE through an ETF structure they already understand and trust,” said Federico Brokate, the company’s head of Business Development, in the release.

21Shares expands crypto offerings

The Dogecoin ETF launch builds on 21Shares’ push to offer more cryptocurrency exchange-traded products. The company already offers spot ETFs for Bitcoin, Ethereum, XRP, and Solana, as well as a 2x leveraged Dogecoin ETF (TXXD) and a Dogecoin ETP in Europe.

Recently, 21Shares partnered with FalconX, a company that provides full crypto services, including brokerage, lending, investment management, and liquidity. This team-up has helped  21Shares reach more markets worldwide.

Meanwhile, Dogecoin rose about 3% today and is currently trading for $0.12 with a market cap of over $20.98 billion, according to CoinMarketCap. DOGE has remained one of the largest meme coins by market capitalization, with a market capitalization of around $21 billion. It has a large and active community, and more businesses are starting to accept it.

Also Read: Nasdaq Moves to Lift Options Limits on Bitcoin and Ethereum ETFs

World Liberty Financial, a crypto company linked to U.S. President Donald Trump’s family, has collaborated with Spacecoin on a project that uses satellites to expand decentralized finance (DeFi).

As per the official release, the initiative, announced on Thursday, aims to combine internet access and financial services so that people in remote or underserved areas can connect online and make transactions.

🛰️ MAJOR ANNOUNCEMENT 🛰️

In a move anchored by a token swap with @worldlibertyfi, we’re entering into a strategic partnership to explore new solutions that converge the decentralized technology of finance and satellite internet connectivity.

Together, we will continue… pic.twitter.com/XnTRfdOKUx

— Spacecoin™ 🛰️ (@spacecoin) January 22, 2026

The partnership includes token swap functionality, which links the two companies and sets up future plans for payments, settlements, and other financial coordination in places where normal banks and networks do not reach.

Satellite network to connect remote communities

Spacecoin has already launched three satellites into low-Earth orbit. These satellites are designed to provide internet access without needing traditional internet providers or government control.

Tae Oh, Spacecoin’s founder, commented on the initiative, stating, “Our mission is to provide connectivity to everyone, everywhere, but that is only half the battle. True digital freedom also requires access to robust, fair, and open financial services.” World Liberty Financial will ensure that when new users connect to the internet, they can also access financial tools to send, receive, and settle payments.

WLD to support using USD1 stablecoin 

World Liberty Foundation is supporting the project through its USD1 stablecoin, which was launched last year. USD1 is backed by the U.S. dollar and has reportedly reached a market capitalization of over $3.2 billion. The company also runs World Liberty Markets, which allows people to lend and borrow money using USD1.

“USD1 is intended to support payment and settlement activity in the real world, and partnerships like this are focused on exploring payments, settlement, and coordination in environments where traditional financial rails may be limited,” said Zak Folkman, co-founder of World Liberty Financial.

The partnership comes weeks after World Liberty Financial’s subsidiary, World Liberty Trust Company, applied for a national charter with the U.S. Office of the Comptroller of the Currency. The company aims to establish a regulated trust bank for stablecoin operations. Many crypto firms are also seeking this type of federal approval to connect digital money with regular banking systems.

Meanwhile, Spacecoin, which launched its first satellites in 2024, offers a network service that gives an alternative to other satellite internet services like Starlink. Its platform allows users to store data, send messages, and perform financial transactions directly through the satellites. The company has already tested sending secure information through space, making it one of the first in the industry to do so.

The collaboration between World Liberty Financial and Spacecion aims to expand access to both internet services and financial tools globally, targeting regions where standard infrastructure remains limited.

Also Read: Paradex Revokes Trading Bot Access After Mithril Subkey Breach

South Korean prosecutors have reportedly lost a large amount of Bitcoin seized from criminal cases after falling victim to a phishing attack. Around 70 billion won, which is roughly $48 million, is believed to have been stolen.

The incident occurred in the summer of 2025, according to the Gwangju District Prosecutors’ Office, which discovered the loss during a routine inspection of confiscated crypto assets.

As per claims by local reports, a staff member accidentally accessed a fake website while checking the seized Bitcoin. The office had reportedly stored cryptocurrency passwords on USB drives, a practice considered less secure than standard industry custody methods. The official said they have since launched an investigation. However, once Bitcoin is transferred to wallets outside official control, it is usually very hard to get back.

History of crypto losses in Gwangju

This is not the first time authorities in Gwangju have faced issues with seized Bitcoin. In November 2021, police reportedly lost 1,476 BTC during a raid on an illegal gambling site. In March 2024, prosecutors also tried to recover around 170 billion won ($127 million) tied to illegal gambling. Those cases are still going through South Korea’s Supreme Court.

The incident follows just a month after South Korea’s Supreme Court ruled that Bitcoin kept on exchanges can be legally taken by authorities under the Criminal Procedure Act. The ruling involved 55.6 BTC, worth about 600 million won, that was seized from a money laundering suspect. The court said digital tokens have value and can be treated as evidence or property that can be seized.

Ongoing threats and scams in crypto space

Crypto scams and phishing attacks remain a major problem in the crypto space. According to a report from PeckShield, scams and phishing resulted in $1.37 billion in losses in 2025, which is 64% more than the previous year. South Korea has more than 16 million people with crypto accounts, about one-third of the population, which makes it important to be security cautious.

#PeckShieldAlert 2025 has witnessed a record-breaking year for crypto-related theft, driven primarily by systemic vulnerabilities in centralized infrastructure and a strategic shift toward targeted social engineering.

The total loss in 2025 exceeded $4.04B, reflecting a ~34.2%… pic.twitter.com/PRlGDPOLH1

— PeckShieldAlert (@PeckShieldAlert) January 13, 2026

Earlier this year, a MetaMask phishing scam targeted crypto users by tricking them into giving out their wallet recovery phrases. The scammers copied MetaMask security alerts and showed fake two-factor authentication (2FA) steps to fool users into handing over their private seed phrases. Once entered, attackers could empty wallets instantly.

According to SlowMist’s Chief Security Officer, scammers start with a fake security warning page that looks like MetaMask. Users are later shown a fake 2FA page, often with a timer, and are asked to provide their seed phrases. These incidents highlight the importance of strong security practices for both users and institutions alike.

Also Read: Crypto User Loses $500K USDT in Ethereum Address Poisoning Scam

Nasdaq has filed a proposal with the US Securities and Exchange Commission (SEC) seeking approval to remove existing options trading restrictions on several Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs).

The request, filed on January 21, focuses on changing Nasdaq’s rules for how many options contracts traders can hold or exercise on these crypto-linked ETFs.

Nasdaq’s proposal for crypto ETF options

According to the SEC notice, Nasdaq wants to remove the current cap of 25,000 contracts that applies to options trading on Bitcoin and Ethereum ETFs. If approved, these ETF options will no longer have special limits just because they are linked to crypto. Instead, they will follow the same rules used for options trading on other exchange-traded funds listed on Nasdaq.

The proposal will affect options tied to BlackRock’s iShares Bitcoin Trust ETF (IBIT) and BlackRock’s Ethereum ETF (ETHA). It will also raise options limits for ETFs issued by Grayscale, Bitwise, Fidelity, ARK 21Shares, and VanEck. Nasdaq stated in the filing that the change would ensure consistent treatment across ETF options and improve how these products trade on the exchange.

Nasdaq said the proposal supports “just and equitable principles of trade,” prevents unfair discrimination, and helps maintain a free and open market. The exchange added that the rule change places no significant burden on competition and protects investors and continued that similar adjustments are expected to be adopted by other options exchanges.

The exchange also asked the SEC to waive the usual 30-day waiting period, allowing the rule to become effective without delay. The SEC has confirmed it is reviewing the proposal and is now asking the public to share comments. A final decision is expected before the end of February.

ETFs’ performance in recent days

BlackRock’s Bitcoin ETF has been seeing a surge in activity in the past few weeks. According to OpenCharts, the ETH has bagged 11th among US-listed assets with the highest options open interest, with more than 5.3 million open contracts. However, these options still rank below gold and silver ETFs, as many large investors move away from assets with high risk like Bitcoin.

This shift has been reflected in the drop of the Bitcoin ETF. In the last three days, Bitcoin ETFs recorded a total outflow of about $1.48 billion, according to Farside Investor. BlackRock’s IBIT led the withdrawals with $356.6 million, while Fidelity’s FBTC followed with $287.7 million in redemptions.

Bitcoin is currently trading for $89,030, just a modest 0.77% drop from the previous day but a 7% drop in the last week, while Ethereum trades below $3,000 after a sharp drop earlier in the week, according to CoinMarketCap.

In a statement shared with CryptoTimes, analysts from Bitfinex said that this recent Bitcoin drop below $90,000 is based on aggressive selling linked to geopolitical tensions and the U.S.-Greenland issue, but whale-sized spot buying has been actively buying the dip, which still supports the price.

The analysts added that although the demand for ETFs has dropped since the end of last year, inflows from exchanges are still low compared to big sell-offs, and also, long-term holders are starting to sell less.

“From here, the focus is on stabilization signals: ETF flows flattening or turning positive, spot taker CVD staying net positive, and price reclaiming the $90K–$92K zone with declining volatility. If those don’t align, this move looks like redistribution instead of the previously assumed consolidation before an uptrend,” the analysts said.

Also Read: Bitcoin Futures Hit 14-Month High as Market Cap Tops $3 Trillion

The Central Bank of Iran (CBI) purchased $507 million in Tether’s USDT stablecoin between April and May 2025, with payments made in UAE dirhams. The bank reportedly did this to support the Iranian rial, which recently fell to a record low, and to continue international trade even though Iran faces many sanctions.

According to UK-based blockchain research firm Elliptic, a network of cryptocurrency wallets was used by the CBI to systematically collect USDT. Elliptic co-founder Tom Robinson explained that leaked documents detail purchases made via an entity called Modex, which “may be a crypto broker that is willing to do business with the Iranian government.” 

How the USDT was handled

Elliptic’s investigation mapped out the full wallet network, which showed a deliberate accumulation of USDT worth at least $507 million. The figure is considered a “lower bound,” as some wallets could not be attributed to the CBI with certainty. At first, most of the acquired USDT was initially sent to Iran’s largest cryptocurrency exchange, Nobitex, which allows users to store, trade, and sell digital assets for rials.

However, following a hack on June 18, 2025, that resulted in over $90 million being drained from Nobitex. After this, the CBI moved its USDT to a cross-chain bridge, changing the tokens from TRON-based USDT to Ethereum-based USDT. The stablecoins were then converted to other digital assets, moved to different blockchains, and sent to other exchanges. This process lasted until the end of 2025.

Iran moves to USDT and digital dollars

The main reason for CBI’s purchases appears to be stabilizing the Iranian rial and injecting US dollar liquidity into the local market. “The routing of funds to Nobitex indicates a strategy of injecting US dollar liquidity into the local market to prop up the rial,” Elliptic’s research noted. Beyond domestic intervention, Iran wanted a system that could work around sanctions, using USDT as “digital off-book eurodollar accounts” to store value outside of U.S. control.

Meanwhile, Tether froze around $37 million in wallets linked to the CBI in June 2025. Iran continues to face economic challenges, including domestic unrest and repeated sanctions, including UN sanctions over its nuclear program in September 2025. These conditions appear to have driven the country to explore digital assets for both domestic market support and international trade.

Also Read: Iran’s IRGC Quietly Shifted $1B Through UK Crypto Platforms

Caroline Ellison, former co-CEO of Alameda Research, is scheduled to be released from federal custody today after serving roughly 440 days of a two-year prison sentence. She will leave a “residential reentry management” facility in New York, often called a halfway house.

She is being released early due to good conduct credits and cooperation with federal prosecutors, which allows her to leave nearly ten months ahead of her original schedule. According to the Federal Bureau of Prisons website, Ellison began her two-year sentence in November 2024 at a federal prison in Danbury, Connecticut, before being transferred to community confinement in October 2025.

Why was Ellison sentenced

Caroline Ellison, 31, pleaded guilty in December 2022 to multiple charges, including conspiracy to commit wire fraud, commodities fraud, securities fraud, and money laundering. Subsequently, she cooperated with authorities and testified against Sam Bankman-Fried, the founder of FTX and her former boyfriend, during his 2023 trial.

In court, she stated Bankman-Fried directed her to commit acts that led to the collapse of FTX and Alameda Research. She described how Alameda had access to customer deposits through an unlimited line of credit and a bank account called “fiat@.”

Role in FTX collapse

During her sentencing, Judge Lewis Kaplan said her cooperation was essential in securing Bankman-Fried’s conviction. She explained in court how Alameda used customer money for risky trades, political donations, buying luxury items, and even alleged bribes, which contributed to FTX’s dramatic collapse in November 2022. Her cooperation and plea agreement resulted in a sentence substantially shorter than those of others linked to the exchange’s downfall.

After her release, Ellison will be under post-release supervision while she completes the final part of her sentence.

What happens next for FTX executives

Sam Bankman-Fried was sentenced to nearly 25 years in prison in March 2025 and ordered to repay up to $11 billion to investors and lenders. Other executives, including Gary Wang and Nishad Singh, were charged but cooperated with authorities and served no prison time. The Securities and Exchange Commission has barred Ellison, Wang, and Singh from being officers or directors of public companies for several years. Ellison herself received a 10-year ban.

Meanwhile, SBF has been active on his X account, which is managed by a friend but posts in his words. In December, he praised Trump’s pardon of former Honduran President Juan Orlando Hernández, saying “few are more deserving than him.” However, earlier this year, Trump stated that he has no plans to pardon Sam Bankman‑Fried.

Also Read: Trump’s Crypto Advisor Pushes Swift Passage of Market Structure Bill

Ondo Finance has expanded its tokenized securities business by launching Ondo Global Markets on the Solana blockchain, making more than 200 tokenized U.S. stocks and exchange-traded funds available to users.

This launch, announced on Wednesday, allows people to buy, sell, and trade popular public market assets directly onchain using Solana wallets and apps, instead of traditional stockbrokers.

Today, Solana goes TradFi.

Hundreds of tokenized stocks & ETFs are now live on @solana, bringing the full TradFi portfolio to crypto’s largest trading ecosystem.

Millions of Solana users can now access Wall Street-grade liquidity across 200+ assets, including tokens tracking:… pic.twitter.com/JRZxcScOXj

— Ondo Finance (@OndoFinance) January 21, 2026

Tokenized stocks’ expansion to Solana

Ondo Global Markets is one of the largest issuers of tokenized real-world assets. With this move, the platform becomes a direct competitor to other tokenized stock offerings on Solana, including XStocks. The platform is also now the largest real-world asset issuer on Solana by asset count. Before Ondo’s arrival, Solana supported about 319 tokenized assets.

Over 200 existing tokenized stocks have been migrated to Solana. These assets are among Ondo’s most actively traded products and will now be accessible to Solana’s large user base, which ranges from about 2.8 million to 3.2 million daily active users. The listed assets include U.S. blue-chip equities, technology and growth stocks, broad-market and sector-focused ETFs, and commodity-linked products such as gold and silver ETFs.

Liquidity from traditional markets

One of the main points of Ondo Global Markets is how liquidity works. Many tokenized stock platforms depend on small onchain pools, which limit how much users can trade. Ondo uses a different model. Its tokenized assets are connected to liquidity from major traditional exchanges such as NASDAQ and NYSE. This allows users to trade tokenized stocks in larger amounts and receive prices close to those they would see with traditional stockbrokers.

“We’re excited to bring hundreds of onchain securities with Wall Street liquidity to Solana’s thriving ecosystem,” said Ian De Bode, President of Ondo Finance. “For the first time, Solana users can rest assured that they can buy tokenized stocks in size at brokerage prices, giving them peace of mind when trading onchain.”

The liquidity model also enables Ondo to launch with hundreds of assets at once. The company plans to add thousands more tokenized stocks and ETFs in the future. Access to these assets is supported through existing tools such as JupiterZ. More than 200 tokenized stocks are available through request-for-quote trading, with just-in-time minting and redemption during market hours and open liquidity after markets close.

Jupiter x @OndoFinance

200+ tokenized stocks now live with billions in NYSE-backed liquidity, accessed exclusively via JupiterZ (RFQ).

Just-in-time mint & redeem during market hours, permissionless liquidity after close.

Wall Street, onchain. pic.twitter.com/e49R35dAOm

— Jupiter (@JupiterExchange) January 21, 2026

Expansion on other blockchains

The Solana launch follows earlier deployments on Ethereum and BNB Chain in late 2025. Since its initial launch, Ondo has attracted strong global users around the world who want access to U.S. stocks onchain. The company has reported between $460 million and $520 million in total value locked and between $5.1 billion and $6.8 billion in total trading volume across its supported blockchains.

Nick Ducoff, Head of Institutional Growth at the Solana Foundation, said Solana was picked because it “is designed to support high-performance financial applications at global scale” and described real-world assets as “an important part of that future.”

Also Read: NYSE Prepares Tokenized Platform As 24/7 Trading Moves Closer

The Solana Policy Institute (SPI) is pushing for more legal protections for software developers after Roman Storm, the developer behind Tornado Cash, was found guilty on a money transmitting charge in August 2025.

In an open letter, the organization said that this case is “not an isolated dispute” and could influence how the United States treats open-source innovation in the future. SPI leaders Kristin Smith and Miller Whitehouse-Levine stressed that criminalizing the act of writing code risks driving talented developers out of the system entirely.
The group is urging lawmakers in Washington to pass legislation that would clarify when software developers are exempt from money transmitting laws.

Today, we published a letter in support of developer @rstormsf – written by SPI President @KristinSmith and CEO @millercwl.

If you can be punished for publishing open-source code, no developer is safe.

This case is a test of whether the U.S. will protect builders, privacy, and… https://t.co/dJbxu06GLP pic.twitter.com/wjIrE54Z00

— Solana Policy Institute (@SolanaInstitute) January 21, 2026

$6.3 million raised for Storm’s support

Tornado Cash is a decentralized cryptocurrency mixing service designed to give users privacy when making transactions. While Storm faced charges for money transmitting, the jury did not reach a verdict on money laundering or sanctions-related counts.

Since the verdict, supporters across the crypto industry have donated over $6.3 million to Storm’s legal defense. Earlier, Ethereum co-founder Vitalik Buterin published a letter supporting Storm, advocating for software freedom and personal privacy rights.

Meanwhile, SPI CEO Miller Whitehouse-Levine commented on the case, stating, “It’s really unfortunate because this is certainly the largest regulatory, and in this instance criminal, overhang for the ecosystem in the United States at the moment. Given that sentencing has not occurred, hope springs eternal.”

Seeking protection for developers

The Solana Policy Institute emphasized that protecting developers is essential for open innovation and digital security. Across the crypto ecosystem, developers work globally to build software that anyone can inspect, use, or improve. The institute highlighted that open-source software secures networks, protects users, and enables permissionless innovation worldwide. 

They warned that treating software creation as a crime confuses builders with bad actors and punishes people for creating lawful code. Privacy-enhancing tools, in particular, are important for safeguarding sensitive data, securing transactions, and protecting communities from surveillance or abuse.

The Blockchain Regulatory Certainty Act (BRCA), included in the latest Senate Banking Committee bill, would provide protections for non-custodial developers who do not control user funds. It would give clear guidance on when software developers are not considered money transmitters. “That is a major highlight in the bill, and is a huge, huge win,” Whitehouse-Levine added.

Why the case matters

Storm’s conviction could make software developers less confident in building new tools or publishing code. Many developers may worry that creating legal, open-source software could lead to criminal charges. SPI leaders said this could lead to developers avoiding working on privacy tools or other important software.

SPI concluded by stating, “We stand with the developer community. We stand for innovation. For privacy. For constitutional protections. We stand with Roman Storm.”

Also Read: Vietnam SSC Begins Accepting Crypto Trading License Applications

David Sacks, U.S. President Donald Trump’s appointed Crypto Czar, said banks will fully enter the cryptocurrency industry once a new market structure bill is passed. 

Speaking in an interview with CNBC at DAVOS 2026, Sacks said, “I think what’s gonna happen is, after the market structure bill is passed, the banks are going to get fully into the crypto industry, so we are not going to have a separate banking industry and crypto industry. It’s going to be one digital assets industry.”

When asked if the crypto firm would be regulated the same way that the banks are regulated, Sacks said that “everyone offering the same product should be regulated the same way.”

He also noted that there’s a debate over whether stablecoins should be able to pay yield. According to him, Banks are cautious about it, while some in the crypto space want to keep yield as a key feature. Sack said that he supports a compromise so the bill can reach the president’s desk.

“If there’s no deal, then [banks] are going to lose on this issue. So I think it’s in their interest to work something out.” He encouraged crypto companies to see the bigger picture, saying that while yield is important, getting an overall market structure bill is equally critical. He added that a good compromise often leaves some parties unhappy, but it is necessary for progress. 

Push for quick passage

Earlier the same day, Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, also commented on the bill. He warned that delaying could allow future administrations to create more difficult rules. “You might not love every part of the CLARITY Act, but I can guarantee you’ll hate a future Dem version even more,” Witt added.

Earlier this month, the Senate Banking Committee circulated a draft of the bill. One major rule in the bill limits interest on stablecoins. Users can earn rewards only by taking part in activities like staking, posting collateral, or providing liquidity. Simply holding stablecoins will not earn yield. In short, the rule is meant to help banks avoid unregulated deposits while keeping stablecoins mainly for payments, not savings.

Industry concerns

Some crypto firms, like Coinbase, have raised some concerns. The exchange recently stopped supporting the CLARITY Act. In a previous statement, CEO Brian Armstrong said, “Parts of the bill could limit tokenized stocks, restrict DeFi platforms, and weaken CFTC oversight.”

After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.

There are too many issues, including:

– A defacto ban on tokenized equities
– DeFi prohibitions, giving the government unlimited access to your financial…

— Brian Armstrong (@brian_armstrong) January 14, 2026

The White House criticized Coinbase’s decision, calling it a “rug pull,” and warned it could remove support for the bill unless the exchange works on stablecoin yield rules. Some crypto users online also said the law could favor big companies and reduce flexibility for smaller companies.

Meanwhile, multiple senators are observing the bill closely and taking their time to make careful decisions. Senator Mark Warner recently commented that the bill “has a way forward,” as he believes there is a path for it to become law, but it still needs careful discussion and support from other lawmakers. Senator Cynthia Lummis said it will take time to review and fix.

Experts warn that if the bill is delayed, it could slow down how people use crypto in the U.S., limit trading, and make it harder for the country to compete with other nations in the digital money market.

Also Read: Trump-Backed World Liberty Plans CFO Hire for Crypto Bank

Tether, the issuer of USDT stablecoin, has burned 3 billion USDT, permanently removing the tokens from circulation.

According to data from etherscan, the transaction was initiated on Tuesday, January 20, 2026, at 14:56:35 UTC by the address “ 0xC6CD****a828.” Whale Alert identified the said address as a verified Tether Treasury address.

The tokens were sent to a burn address, which is a digital address from which coins cannot be recovered. This is a normal process for Tether to manage the supply of USDT when users exchange it for real money.

The transaction was logged on the Ethereum blockchain to provide a public record of the burn. Although the tokens were destroyed, the burn did not affect the dollar reserve behind USDT. This burn is about 3–4% of the total supply of Tether, which usually ranges between 80 and 110 billion USDT. The size of this burn makes it one of the largest ever.

Previous USDT burns

Tether uses two main ways to manage the USDT supply: minting new tokens when users deposit dollars, and burning tokens when they redeem them. Most big burns happen after large redemptions from institutions. The company also publishes quarterly reports to show the amount of reserves it holds. 

Tether has burned large amounts of USDT in the past. The company burned 1.5 billion USDT in April 2021 and 2 billion USDT in July 2022. This latest burn is the biggest so far. So far, market response to the burn has been calm.

According to data from CoinMarketCap, USDT has maintained its $1 peg but with little fluctuations of less than 0.1%. Liquidity in major trading pairs like BTC/USDT and ETH/USDT went down slightly but returned to normal quickly.

Tether mints 1 billion USDT on Tron

The burn comes days after Tether’s first major USDT mint of 2026, creating 1 billion USDT on the Tron network on January 9. According to previous reports, the mint was an “authorized but not issued” transaction, which means the tokens were created but held in reserve, not yet released into the market.

Tether does this to prepare for future demand to keep liquidity ready for exchanges, institutional clients, and market makers. 

Education and crypto access initiative

In another recent development, Tether recently partnered with Bitqik, a licensed cryptocurrency exchange in Laos, to launch a joint education program to teach people about Bitcoin and stablecoins in 2026.

The initiative, announced on Monday, would benefit students, young workers, business owners, and local communities. The program will offer seminars and online content designed for them to understand how Bitcoin, stablecoins, and blockchain technology work and how they can be used safely in everyday life.

Why it matters

Large USDT burns help keep the stablecoin balance with real demand. When people redeem USDT for cash, removing extra tokens helps prevent oversupply.

This process helps maintain its $1 price and shows that Tether can handle large cash redemptions without problem. It also keeps USDT trustworthy for exchanges and businesses that use the stablecoin.

Also Read: Chainlink Launches 24/5 Data Streams for U.S. Stocks and ETFs

Chainlink, the oracle platform, launched 24/5 U.S. Equities Streams today, a new service providing market data for U.S. stocks and ETFs across all major trading sessions.

The service allows blockchain developers and institutions to access real-time equity data beyond standard market hours, including regular, post-market, and overnight trading.

JUST SHIPPED: Chainlink 24/5 U.S. Equities Streams brings the ~$80T U.S. equities market onchain.

Fast, secure stock & ETF data is now live across 40+ chains—24 hours a day, 5 days a week.

Trusted by @lighter_xyz, @BitMEX, @OfficialApeXdex, & more.

🧵https://t.co/DMzBK5yJ71

— Chainlink (@chainlink) January 20, 2026

According to the announcement, the rollout is expected to fix an issue in the blockchain market where traditional stock markets only allow trading for a few hours a day. By using this system, on-chain platforms can now trade equities safely, keep prices accurate, and create new financial products without stopping during off-hours. Chainlink built this service on its Data Standard, which has handled over $27 trillion in transactions.

What the streams offer

The streams include more than just price updates. They offer bid and ask prices, trade volumes, market status flags, mid-prices, staleness indicators, and last traded prices, giving developers the information needed to build better pricing models and manage risks.

“A core reason for this is structural: blockchain-enabled trading operates continuously 24/7/365, while U.S. equity markets trade across fragmented sessions during dedicated market hours. Furthermore, most onchain data solutions only provide a single price point for equities during standard trading hours (weekdays 9:30 AM – 4:00 PM ET), creating a gap where onchain markets are unable to reliably replicate market conditions all 24 hours of the day,” the firm said.

The system operates on a “pull” model, sending sub-second updates only when trades occur, which helps reduce on-chain costs and improves efficiency for high-frequency trading.

Industry support

Multiple exchanges and platforms are already using the streams. For instance, BitMEX and Lighter rely on the data to run perpetual futures contracts that never expire, while ApeX, HelloTrade, Decibel, Monaco, Opinion Labs, and Orderly Network have integrated it for other RWA applications.

Lighter CEO Vladimir Novakovski commented on the service, stating, “This enables us to extend our fair, low-latency perp execution beyond regular market hours without compromising data integrity.” Meanwhile, BitMEX CEO Stephan Lutz said, “For derivatives markets, security and data integrity matter more than anything. Chainlink’s 24/5 U.S. Equities Streams are a critical component of our professional-grade 24/7 equity derivatives infrastructure.”

Why this matters

Until now, blockchain platforms could not trade U.S. stocks safely outside normal hours, which left decentralized exchanges unable to maintain accurate prices during off-hours. But now, with continuous data, Chainlink allows tokenized equities to function properly around the clock.

The firm is also working with Swift, Euroclear, and DTCC to automate corporate actions like dividends, stock splits, and mergers, ensuring tokenized assets stay accurate.

Live across more than 40 blockchains, developers can now integrate the streams to support equity perps, lending platforms, synthetic assets, prediction markets, and other on-chain applications.

Also Read: XRP Open Interest Climbs to $566M as Volatility Builds

BitMine Immersion Technologies, led by Tom Lee, disclosed that it bought 35,268 Ethereum (ETH) last week. The company now holds over 4.2 million ETH, representing about 3.48% of Ethereum’s total supply.

Tom Lee confirmed the purchase, stating, “The most recent ETH purchases are a sign of increasing institutional trust in Ethereum’s use in financial markets.”

The acquisition comes after the firm added 24,266 ETH the week before its annual shareholder meeting on January 15, 2026, held at the Wynn Encore in Las Vegas. According to CoinGecko, BitMine’s combined crypto holdings, cash, and strategic investments have now reached about $12.7 billion, with 99.86% of its crypto portfolio in Ethereum, while it holds only 0.14% in Bitcoin, the largest cryptocurrency.

BitMine expands staking operations

Ethereum staking has also reached an all-time high. As per the official release, BitMine currently has about 1.84 million ETH staked, worth around $5.9 billion as of January 19, 2026. Staking means locking up ETH to help run the Ethereum network while earning rewards.

Across Ethereum, the total staked ETH has reached $118 billion, with over 976,000 validators active and more than 2 million ETH waiting to be staked. BitMine plans to grow its staking through its Made in America Validator Network (MAVAN). “At scale, the ETH staking fee is $374 million annually… or greater than $1 million per day,” Lee said.

Shareholders approve key proposals

BitMine also shared that all four proposals tabled at its recent annual shareholder meeting were passed on January 15. One proposal, which sought approval to increase the company’s authorized shares, received 81% approval from votes cast.

Lee said, “We view the fact that 81% of votes cast favored increasing authorized shares… as a message from BitMine stockholders that they understand our accretive ETH accumulation strategy.”

BitMine bets on MrBeast

In addition to increasing its holdings, BitMine invested $200 million into Beast Industries on January 15, 2026, a private company run by content creator MrBeast. According to a previous report, the deal, expected to close around January 19, is viewed as the firm’s approach to push beyond crypto markets into global media and creator-led platforms.

Lee highlighted the reach of Beast Industries, saying, “Each of his bi-monthly videos garner ~250 million views… the equivalent of two Super Bowls monthly.” He added that Beast Industries connects strongly with Gen Z and Gen Alpha audiences, and that BitMine sees “strong alignment between BitMine’s capital strategy and Beast Industries’ reach and innovation model.”

BitMine remains the largest known Ethereum treasury and the second-largest crypto treasury globally, behind Strategy Inc. (MSTR), which holds Bitcoin worth $61 billion. The company’s stock is also actively traded, with an average daily trading volume of $1.5 billion, ranking it #60 out of 5,704 US-listed stocks.

Also Read: Trend Research Adds 9,939 ETH After $30M Loan from Aave

Trend Research, a Hong Kong–linked crypto investment firm, has increased its Ethereum (ETH) holdings again after using borrowed funds from decentralized finance platforms. 

According to on-chain records from Lookonchain, Trend Research borrowed $30 million in USDT from Aave, a decentralized lending platform, and used the funds to purchase 9,939 ETH, worth about $30.84 million at the time of purchase.

Trend Research borrowed another 30M $USDT from #Aave to buy 9,939 $ETH($30.84M) today.

They then deposited the 9,939 $ETH into Aave and borrowed another 20M $USDT, which was sent to #Binance — likely to buy even more $ETH.

Trend Research now holds 636,819 $ETH($1.98B) on-chain.… pic.twitter.com/PGRlKHeEjF

— Lookonchain (@lookonchain) January 20, 2026

After the purchase, the company deposited the ETH back into Aave as collateral, which allowed it to borrow an additional $20 million in USDT. The funds were subsequently transferred to Binance, one of the world’s largest crypto exchanges. 

No further trade has been confirmed yet, but such transfers suggest that the company might be planning to buy more cryptocurrency. With this recent transaction, Trend Research’s on-chain holdings have now climbed to 636,819 ETH, worth roughly $1.98 billion.

Frequent purchases in recent weeks

Trend Research has been steadily buying Ethereum in the past month. About three weeks ago, the company purchased 46,379 ETH, which pushed its total holdings close to 580,000 ETH at the time. That same week, it bought about $35 million worth of Ethereum, pushing its total holdings to over 601,000 ETH, valued at roughly $1.83 billion. 

These purchases placed the private company among the largest known holders of Ethereum in the world. Only two public companies, SharpLink Gaming and BitMine Immersion Technologies, report holding more ETH, even though Trend Research does not appear on most public crypto treasury lists.

Trend Research is linked to Jack Yi, founder of LD Capital. The firm has borrowed close to $958 million in stablecoins from Aave across multiple transactions, with an average Ether purchase price of about $3,265.

In a translated post shared on X in December, Yi said his firm was preparing “another $1 billion” to continue buying Ethereum and urged traders “not to short.” He added that he remains bullish on crypto into the first half of 2026 and plans to keep buying regardless of short-term price swings.

我宣布Trend Research再准备10亿美金，在此基础上继续增持买入ETH，我们言行一致，强烈建议不要做空，毫无疑问这将是历史性机会。 https://t.co/bJCjdABpB0

— JackYi (@Jackyi_ld) December 24, 2025

Corporate firms adopt Ethereum

Trend Research’s accumulation is a trend that has been picking up in the crypto industry lately, which involves corporate firms adopting crypto like Ethereum as a long-term reserve asset. For instance, BitMine Immersion Technologies has also been expanding its Ethereum strategy.

The firm has been one of the most active corporate buyers of Ethereum in recent months. Earlier this year, BitMine disclosed that it purchased another 24,266 ETH in a single week, which lifted its total holdings to about 4.17 million ETH, valued at close to $13 billion. This makes BitMine the largest known corporate holder of Ethereum.

Recent filings show BitMine now controls more than 3.4% of Ethereum’s circulating supply, a level it reached in roughly six months. Internally, the firm refers to its long-term goal as reaching 5% of total supply, a target executives believe would give it strong influence within the Ethereum network.

Also Read: Vitalik Calls for “Garbage Collection” to Prevent Ethereum Bloat

MegaETH, an Ethereum Layer 2 blockchain project, has announced plans to open its mainnet to users starting January 22, 2026, beginning with a large-scale global stress test designed to push the network to its limits. The seven-day test is designed to push the network hard and is expected to process a total of 11 billion transactions.

In an X post shared on Monday, the MegaETH team said the network will be opened to users for “several latency-sensitive apps while the chain is under intense sustained load.”

The MegaETH Global Stress Test

11B transactions in 7 days.

On Jan 22nd, we’re opening mainnet to users for several latency-sensitive apps while the chain is under intense sustained load.

Ultra-low fees. Real-time transactions.

Public Mainnet in the days that follow. pic.twitter.com/ZIOZnctCZJ

— MegaETH (@megaeth) January 19, 2026

The goal is to show that the network can handle heavy use while delivering real-time blockchain performance. The team highlighted ultra-low fees and real-time transactions as key features during this phase. Public access to the full mainnet is expected in the days following the stress test.

MegaETH said the stress test will aim for a steady transaction speed of between 15,000 and 35,000 transactions per second. The team said the test is meant to be difficult on purpose. “Stress tests only matter if they’re uncomfortable,” the team wrote, adding that problems should appear so they can be fixed. If successful, the test would result in the highest number of transactions ever recorded on any EVM-compatible chain.

Games and apps on the network

Users who would be taking part in the test will be able to use several onchain games. These include Stomp, Smasher, and Crossy Fluffle. 

Stomp is a fully onchain player-versus-player monster battle game built by 0xmons, which will offer what the team calls a Web2-level user experience while remaining entirely onchain. Smasher is a fast-paced game inspired by crypto culture and classic whack-a-mole gameplay, while Crossy Fluffle, which already has a strong community, will also be deployed across other networks like Base and Monad.

On the backend, MegaETH said it will push a mix of Ethereum transfers and version-three automated market maker swaps through Kumbaya infrastructure until the network reaches the 11-billion-transaction target. The team noted that if issues arise during the test, they will be identified and fixed in real time. “In the end, MegaETH will have the largest tx count in history across all EVM chains,” the project stated.

What comes next

After the stress test, MegaETH plans to open its public mainnet with a group of applications powered by its USDM stablecoin. These include DeFi platforms such as Brix, Avon, and WCM, as well as consumer-focused apps like Hit.one, TopStrike, and Showdown TCG. Additional applications, including Euphoria, Blitzo, and Rocket, are expected to follow.

The upcoming launch follows the Frontier mainnet beta opened to developers in December, which focused on real-time execution features such as sub-millisecond latency and in-memory processing.

The Frontier is Open

MegaETH mainnet has been live for weeks to infra teams like @LayerZero_Core, @eigen_da, @chainlink, @redstone_defi, @Alchemy and @safe.

Today is day 1 for builders.

Apps will deploy and test while users track progress through explorers and dashboards. pic.twitter.com/NQr5tbuxD7

— MegaETH (@megaeth) December 18, 2025

The project’s MEGA token is expected to officially launch and begin trading in January 2026, following an oversubscribed public sale completed in October 2025.

Also Read: PancakeSwap Community Approves Reducing CAKE Max Supply to 400M

PancakeSwap, a decentralized exchange, has officially passed its proposal to reduce the maximum supply of CAKE tokens from 450 million to 400 million. The decision comes just a week after the proposal was introduced to the community and approved through voting.

In an X post on Monday, the supply reduction is designed to make CAKE tokens rarer while still leaving a small number for future platform needs.

🗳️ The CAKE Max Supply Reduction Proposal has passed!

✅ Max supply has now been adjusted to 400M CAKE

🙏Thank you to our community for the thoughtful discussion and votes

With CAKE’s max supply reduced to 400M, we’re reinforcing long-term sustainability and a… https://t.co/9wzsGbcbOl

— PancakeSwap (@PancakeSwap) January 19, 2026

Smaller supply, more control

Before the change, around 350 million CAKE tokens were in circulation. After the new maximum supply is applied, only 50 million tokens will remain for PancakeSwap to use in the future. This reduction is part of the exchange’s plan to make CAKE a deflation-first token. 

In April 2025, the platform introduced Tokenomics 3.0, which reduced the number of tokens given out daily and removed the veCAKE staking system. These changes helped lower the circulating supply from 380 million to 335 million CAKE. PancakeSwap also increased the number of tokens burned from trading fees, lottery money, and initial farm offerings, with one week alone seeing 715,000 CAKE burned.

The exchange has also collected about 3.5 million CAKE in its Ecosystem Growth Fund to support development before using any more tokens. PancakeSwap has indicated that returning to an inflationary system is unlikely, showing its commitment to a stable token economy.

Meanwhile, a critic on X commented on the announcement, stating that “Supply cuts do not create value. Demand and liquidity do. If CAKE incentive weakens faster than usage, scarcity becomes a constraint, not a catalyst.”

This means that reducing the token supply alone does not guarantee an increase in the value of the token. For CAKE to maintain or increase its worth, the platform must continue generating liquidity as well as its adoption.

CAKE price drops despite supply cut

Despite the announcement, the CAKE token didn’t react positively, as the price dropped by 2.83% in the last 24 hours. At the time of writing, the token is trading for $2.02. Trading activity is up by 54% today to about $59.38 million in trading volume, with its market cap sitting at $675 million. Still, the token has performed well in the last month, recording a 9.68% increase from a low of $1.78.

The recent drop coincided with the fear of the U.S. tariff on European goods, which triggered uncertainty across the market. The overall market, as of now, is down by 2.55% to $3.14 trillion, according to CoinMarketCap. 

PancakeSwap’s steady rise

PancakeSwap continues to perform well since its launch in 2020. Last year, the exchange managed about $2.36 trillion in trading volume, which is over a 600% increase from 2024, and hosted 35.37 million unique traders. 

Its total value reached $2.45 billion by the end of 2025, but is now slightly lower at $2.38 billion. PancakeSwap operates across ten blockchains and recently launched PancakeSwap Infinity with flexible liquidity pools, as well as CAKE.PAD, a token access platform that burned over 157,000 CAKE.

This latest reduction continues PancakeSwap’s long history of managing the CAKE supply. In 2023, the maximum supply was reduced from 750 million to 450 million following a community vote. Limiting the token’s supply helps protect its value, which creates predictability for users and supports the platform’s long-term growth.

Also Read: XRP Price Drops Below $2 as Death Cross Hits the Market

XRP, the native token of Ripple, is under pressure after dropping below the $2 key target following the appearance of a death cross on its chart. This comes just two days after the token had a golden cross, which is usually a positive sign.

A death cross happens when a short-term price average goes below a long-term average. This often makes traders sell quickly because it can signal more selling momentum. Despite the price decline, trading activity is up 193% in the last 24 hours to about $3.86 billion in volume. This mix of rising volume and falling price suggests increased selling activity. 

At the time of writing, XRP is trading for $1.97, down 3.42% on the day. The token has lost 5% of its value in the last seven days, dropping from a weekly high of $2.1, which it was at on January 14, according to CoinMarketCap.

$40 million liquidated in 24 hours

The price fall is caused by traders who are closing their positions. In fact, the drop wiped out billions in a long position. According to Coinglass, traders who bet on the price going up were hit hard, with nearly $40 million liquidated. 

Long positions, which are bets that the price will go up, were hit hard, with nearly $2 billion liquidated in the last 24 hours, while short positions amounted to $1.47 million. About $40.76 million was liquidated in total.

In addition, XRP’s open interest, which had surged by 12% over the weekend with $1.4 billion committed on future price expectations, was effectively nullified by the sudden shift. Now, it is down by 9.81% to $3.57 billion.

The broader crypto market also contributed to the sell-off. During early trading hours today, the overall market dropped as fears of new U.S. tariffs on European goods triggered anxiety across the market. Bitcoin, the largest cryptocurrency in the market, saw its price drop from above $95K to $93K, while Ethereum’s price is down by 3.44% today to $3,216. In short, overall market valuation is down by 2.55% to $3.14 trillion.

The fear also affected the stock markets. U.S. equity-index futures, including Nasdaq 100 and European futures, dropped sharply, while safe-haven assets like gold and silver went up. 

What’s next for XRP?

The crypto market started the year on a positive note after a sluggish end to 2025, but recent market events have quickly erased these early gains. XRP specifically marked 12 of 13 days in losses since January 5, dropping from a five-day high of $2.41 on January 5.

On the 4-hour chart via TradingView, the price went as low as $1.85 during earlier trading hours but was quickly rejected from a support level at the same range. The range also acts as a demand zone, considering the fact that the token recently broke out of a bullish flag pattern earlier this month, which confirmed that the market was really ready for a rally. A retest of the range was expected, which the price has nicely respected.

If the current buying momentum from this demand zone remains strong, a surge back to the $2 key level is expected. Moreover, the Relative Strength Index (RSI) is currently at 39, while the moving average is at 37. This was after the price entered an oversold condition, which suggested that the buyers could soon take over the market.

Also Read: NYSE Prepares Tokenized Platform As 24/7 Trading Moves Closer

Tether, the issuer of USDT stablecoin, and Bitqik, a licensed cryptocurrency exchange in Laos, have announced a joint education program to teach people about Bitcoin and stablecoins.

As per the official release, the program will run across Laos throughout 2026 and is meant to help people understand how digital money works and how it can be used in daily life.

Tether and Bitqik Collaborate to Promote Stablecoin Education in Laos
Learn more: https://t.co/Mbj5xto5ZL

— Tether (@tether) January 19, 2026

Bitqik believes that digital currencies can help people get more control over their money and take part in the global economy. These ideas align with Tether’s goal of making digital finance easier to access. With this team-up, the two companies would explain blockchain technology in simple ways and show how stablecoins like USD₮ can support financial inclusion.

Activities targeting local communities

The program will focus on students, young workers, business owners, and local communities. Additionally, Bitqik will develop online educational materials designed to encourage responsible and informed use of digital assets.

Bitqik plans to hold events every three months in major cities such as Vientiane, Pakse, Vang Vieng, and Luang Prabang. These events will feature discussions and real-life examples of how stablecoins can be used for payments, savings, and digital business. The goal of the program is to educate more than 10,000 people through seminars, roadshows, and online content.

Tether CEO Paolo Ardoino said the partnership will focus on building understanding at the community level. “Financial inclusion is not only achieved by access but by having a clear understanding. This collaboration with Bitqik reflects our commitment to grassroots education and to empowering communities in Laos with the knowledge and tools to participate meaningfully in the digital economy,” he said.

Bitqik CEO Virasack Viravong said the company is pleased to work with Tether on this effort. He explained that Bitqik Academy will lead activities to educate the Lao community about blockchain, Bitcoin investment, and the use of stablecoins, especially USD₮. He added that the program will help Lao people gain better access to digital assets through different learning activities in 2026.

Tether expands Bitcoin holdings and reserves

The education initiative comes as Tether continues to expand its presence in the digital asset. Earlier this month, CEO Paolo Ardiono confirmed in a post on X that the company bought 8,888 Bitcoin in late 2025, valued at roughly $800 million at the time.

The purchase brought Tether’s total Bitcoin holdings to more than 96,000 BTC, which is worth around $8.4 billion at the current market price. This makes Tether one of the largest corporate holders of Bitcoin in the world.

Tether has also shared that it puts around 15% of its quarterly profits into Bitcoin purchases. This means the company adds to its Bitcoin holdings every few months rather than making one large, one-time bet

Also Read: Tether’s $182M USDT Freeze on Tron Reignites Centralization Concern

The XRP Ledger (XRPL) is set to host its first prediction market, called Axiom, offering new opportunities for XRP and Ripple’s RLUSD stablecoin holders. The platform will officially launch its beta on January 19 and would allow XRPL holders to trade real markets without creating a new token.

In an X post on Friday, Axiom announced the plan, saying it will provide the “cleanest way” for XRP and RLUSD holders to put money behind the ideas they have debated for years. The protocol aims to transform discussions around timelines, catalysts, IPOs, lawsuits, and bank integrations into actual trading markets, where conviction meets liquidity.

For years, the $XRP community has debated timelines, catalysts, IPOs, lawsuits, ISO standards, bank integrations, and regulatory moves. But all of that energy has only lived on Twitter threads, YouTube comments, and Discord predictions.

Axiom Protocol turns that culture into… pic.twitter.com/3Ru6ileixO

— Axiom (@AxiomProtocol_) January 16, 2026

XRP and RLUSD for fast trading 

Axiom confirmed the platform will operate entirely with XRP and RLUSD, with no new token launched. The prediction market will run on XRPL’s EVM sidechain, which would enable fast trading, smart contracts, and the use of XRP liquidity. It will also use Axelar and SquidRouter to handle the technical parts of bridging and other infrastructure. 

The protocol will include penalty and reward systems to encourage honest governance. Pepe, Axiom’s Marketing Lead, explained that the platform will have performance cards showing profits, losses, and stats for different XRPL projects, making it easy to track results.

The XRP community has reacted positively. XRPL validator Vet said the idea is great because it avoids creating a token that “does nothing” and keeps the platform easy to use. Community member Crypto ERI said it could be the “biggest thing in 2026 for XRPL.” 

Prediction markets and legal challenges

Prediction markets are already popular in crypto. Platforms like Polymarket on Ethereum and Kalshi on Solana offer similar services. However, some U.S. states have started cracking down on sports-related event contracts.

Recently, the state of Tennessee issued cease-and-desist letters to Kalshi, Polymarket, and Crypto.com because they were running sports betting without a license. The state said the platforms “pose an immediate and significant threat to the public interest of Tennessee” and ordered them to refund users by January 31.

BREAKING: Tennessee Sports Wagering Council sends cease-and-desist letters to Kalshi (📸), Polymarket and Crypto, demanding that they cease offering sports event contracts to TN customers immediately, void all pending contracts and issue refunds by Jan. 31. Lawsuits are imminent. pic.twitter.com/jDIPIwsrCn

— Daniel Wallach (@WALLACHLEGAL) January 9, 2026

Other states, including Nevada, Arizona, Illinois, Maryland, New Jersey, Montana, and Ohio, have taken similar action, saying these platforms hurt tax revenue and don’t protect consumers properly.

Axiom avoids these issues by focusing on XRP and RLUSD trading, not sports events. Shen, Axiom’s Lead, highlighted that the protocol fills a gap for XRP holders, who previously had no access to prediction markets despite being one of the most predictive communities in crypto.

“No new token. No new learning curve. Just bring the XRP you already hold, and trade the beliefs you already talk about every day,” he said. The platform offers a way for XRP holders to turn discussion into action, where being right matters and being wrong has a cost.

Also Read: XRPL 3.0.0 Upgrades Go Live – Node Operators Must Act

The Trump family’s crypto company, World Liberty Financial, has created a new branch called World Liberty Trust Co. and is looking for a chief financial officer (CFO) to help run the proposed bank.

According to documents filed on January 5, 2026, the company has applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC). If approved, it would be able to hold digital assets and provide services like traditional banks.

“The proposed World Liberty Trust Company will have a world-class executive team befitting its station,” said company spokesperson David Wachsman.

Regulators open doors for crypto banks

The CFO position is currently listed as “to be identified,” but the company expects to fill it quickly. This move comes as U.S. regulators have become more open to crypto companies joining the federal banking system.

Jonathan Gould, who leads the OCC, said at a recent policy meeting that creating new banks is a “key priority,” adding that companies working with digital money “should have a pathway to become federally supervised banks, if they so desire.” Several other crypto firms, including Ripple and Paxos, have already received preliminary approvals to start trust banks.

World Liberty Trust’s board will include Zachary Witkoff, CEO of World Liberty Financial and son of co-founder Steven Witkoff, as chairman. Other members include Robert Witkoff and Scott Alper, an executive at the Witkoff family’s real estate company, who helped develop the USD1 stablecoin. Two independent directors, Jeffrey Weiner and Erin Baskett, will provide outside oversight.

Political scrutiny

The application has also drawn political attention. Critics, including Senator Elizabeth Warren, have raised concerns about possible conflicts of interest, given the Trump family’s direct financial stake in the company. 

World Liberty Financial was founded months before the 2024 election by the Trump family and Steven Witkoff. Since its launch, the firm has issued the WLFI token and USD1 stablecoin, which have added hundreds of millions of dollars to the family’s wealth.

World Liberty Trust said it aims to “drive mainstream adoption” of USD1 and make it safe for big investors to hold digital assets. If approved, the bank would allow the Trump family to operate under federal supervision while offering services similar to traditional banks.

Additionally, the move could help make crypto more widely accepted and show that digital money can work alongside regular banks.

Also Read: The Raid of the Century? Trump, Maduro, And The Rumored $60B BTC

The Republic of Moldova is set to introduce its first comprehensive cryptocurrency law by the end of 2026, aligning with the European Union’s Markets in Crypto-Assets (MiCA) framework, according to Finance Minister Andrian Gavrilita.

Speaking on state TV channel TVR Moldova on Wednesday, Gavrilita said the government is working closely with regulators to create rules that let citizens hold and trade cryptocurrencies. However, he emphasized that digital assets will not be recognized as legal money in the country.

“We have the responsibility to regulate them, and it will be the right of citizens to hold these currencies,” Gavrilita said. “You can’t prohibit cryptocurrencies — this is our engagement with the European Union.”

How the law will work

The draft law is being prepared with input from several institutions, including the Ministry of Finance, the National Bank of Moldova, the country’s financial markets regulator, and the Anti-Money Laundering authority.

The legislation will focus on allowing people to own and exchange cryptocurrencies safely, while stopping short of letting them use crypto for payments within Moldova. Gavrilita said the law is part of the country’s alignment with EU standards after the MiCA framework came fully into effect on December 30, 2024, for crypto service providers across Europe.

Gavrilita on cryptocurrency risks 

Gavrilita warned about the speculative nature of digital currencies. “I avoid using the term investments when it comes to cryptocurrencies,” he said. “I see them more as a speculative domain, but citizens have the right to operate them either way, and this year we’ll have the legislation.”

The central bank of Moldova has repeatedly flagged risks like high price swings, fraud, and money laundering. These warnings match the cautious approach the new law will take, focusing on regulation without full endorsement of digital assets as legal money.

Moldova is looking at Estonia as an example for its cryptocurrency rules because of the simplicity and clarity of its laws. Meanwhile, across Europe, countries are pushing for stricter supervision. In 2025, France joined Austria and Italy in asking the European Securities and Markets Authority (ESMA) to oversee major crypto firms, following criticism of Malta’s licensing system, which ESMA said “only partially met expectations.”

The proposed law shows that Moldova wants to be part of Europe’s regulated crypto scene while keeping strong limits on payments and systemic risks. If passed as planned, it would be the country’s first formal crypto law and give citizens the right to hold and trade cryptocurrencies safely under EU-aligned rules.

Also Read: Iran Protests: Bitcoin as Both Lifeline for Citizens and State Weapon

Midnight, a privacy-focused blockchain network backed by Cardano’s Input Output Global (IOG), is building a decentralized identity system designed to help users prove facts about themselves without revealing their personal information.

According to the announcement, this effort is aimed at securing confidential applications across the Midnight ecosystem and is already being developed by multiple partners. The system is built using decentralized identifiers (DIDs) and zero-knowledge technology, which allow users to confirm details like age, nationality, or membership without sharing names, documents, or other private data.

The goal is to give users control over their identity instead of storing information in large central databases.

Midnight is building a robust identity layer using decentralized identifiers and zero-knowledge technology, allowing users to prove facts about themselves without revealing personal data.

This work is happening across the ecosystem from foundational infrastructure to real-world…

— Midnight (@MidnightNtwrk) January 16, 2026

Several partners are working to build the core parts of this system. Midnames is creating a standard way to manage identities on the Midnight network. This includes a new DID method called did:midnight. It is also launching a name service called MidNS, which works as an address book by linking readable names to digital identities, similar to how contact lists work.

The system also supports W3C Verifiable Credentials, which allow users to store digital documents like passports and only share specific details when needed.

Firms contributing to the identity foundation

Identus, an open-source platform for building digital identity solutions, is bringing its tools to Midnight as well. The company is setting up a Verifiable Data Registry, which records identity information safely on the blockchain. In addition, the platform will support different DID methods so the systems can work together.

With this foundation in place, other partners are building applications that rely on privacy and verification. Triple Play is creating a compliance-focused protocol that allows users to prove attributes such as age, nationality, or KYC status without exposing personal details. These proofs are verified by approved validators rather than being made public.

What this enables in real applications

ClarityDAO, an on-chain governance protocol on the Cardano network, is migrating its no-code DAO platform, Agora, to Midnight. This move aims to enable private voting systems where members can prove they are eligible to vote while keeping both their identity and voting choices confidential.

Other projects are exploring new ideas. For instance, Creditcoin, a Layer 1 blockchain protocol that connects real-world assets to Web3, is researching how on-chain credit history can be used to verify human users without revealing financial data. 

Webisoft, a project development platform, is building a decentralized dark pool trading platform using Midnight’s privacy tools, while Fluid Tokens is developing a lending platform that links collateral to verified users without exposing identities.

NIGHT token down 85% since launch

Despite ongoing development, Midnight’s token is still struggling in the market. After launching in December, the NIGHT token fell more than 80% from its high of $0.45 to around $0.06.

At the time of writing this report, the token is trading for $0.06. It is up 2.53% from the previous day but 8% down in the last 7 days. Trading activity is down by 32% today, to about $28.88 million in volume. As of now, NIGHT has a circulating supply of 24 billion tokens and a market capitalization of about $1.05 billion, according to CoinMarketCap.

Also Read: Jefferies’ Christopher Wood Swaps Bitcoin for Gold Over Quantum Fears

Global bank messaging system SWIFT has tested a euro-backed stablecoin from Societe Generale to see how blockchain and traditional banking can work together. 

The trial involved Societe Generale’s blockchain arm, SG-Forge, successfully exchanging and settling tokenized bonds using both fiat currency and the digital EUR CoinVertible (EURCV) stablecoin.

The trial took place on Thursday and demonstrated that tokenized bonds can work with existing payment infrastructure, offering faster settlements and secure, compliant operations through ISO 20022 standards. SG-Forge described EURCV as the first stablecoin onchain that is MiCA-compliant and natively compatible with SWIFT’s systems.

How the Trial Worked

According to the press release, the trial allowed transactions to cover key financial operations such as issuance, delivery-versus-payment (DvP) settlement, coupon payments, and redemption. SG-Forge shared its open-source Compliance Architecture for Security Tokens (CAST), including its security token and the EURCV stablecoin, to support the project. 

“This initiative showed that tokenized bonds can leverage existing payment infrastructures, enabling financial institutions and corporates to benefit from faster settlements and secure, compliant operational processes through the integration of ISO 20022 standards,” SG-Forge said. 

Banks and Technology Behind the Project

SWIFT works with over 30 banks worldwide on a blockchain-based ledger that started with a prototype developed by Ethereum software firm ConsenSys. The upcoming system will provide a secure, real-time record of transactions, and use smart contracts to make sure rules are followed. Other banks, including BNP Paribas Securities Services and Intesa Sanpaolo, acted as paying agents and custodians during the trial. 

The project also proved that tokenized assets can follow ISO 20022 messaging standards, making them compatible with existing banking workflows. SWIFT highlighted that it has worked with UBS Asset Management, Chainlink, Citi, Northern Trust, and the Reserve Bank of Australia on similar projects to link digital assets with traditional finance. 

The new ledger will allow 24/7 cross-border payments and help make digital finance safer and faster. Dugauquier said, “This milestone demonstrates how collaboration and interoperability will shape the future of capital markets.”

Also Read: LMAX and Ripple Partner to Boost Institutional Crypto Trading

LMAX Group, a global marketplace for FX and digital assets, and Ripple, a company that provides crypto solutions for businesses, have started a multi-year partnership to connect traditional finance with digital assets.

According to the press release, LMAX will make Ripple USD (RLUSD) a main collateral asset in its trading system. This means banks, brokers, and other big financial companies will be able to use RLUSD to trade spot crypto, perpetual futures, and CFDs more efficiently and with better margin control.

We are thrilled to announce a partnership with Ripple to accelerate institutional stablecoin adoption and cross-asset mobility.

This multi-year collaboration will see LMAX Group integrate RLUSD collateral across its institutional trading infrastructure enabling clients to… pic.twitter.com/xwFUWkj2vV

— LMAX Group (@LMAX) January 15, 2026

Ripple to provide $150 Million Support 

Ripple will also provide $150 million in financing to support LMAX’s long-term growth plan across different types of assets. 

David Mercer, CEO of LMAX Group, said: “Partnering with a leader like Ripple is a milestone for LMAX, reflecting confidence and momentum in our cross-asset growth strategy. With the benefit of greater US and global regulatory clarity, fiat-backed stablecoins will be a key catalyst in driving the convergence of TradFi and digital assets and we firmly believe that RLUSD is positioned at the forefront.”

Better Trading Tools for Institutions

LMAX clients will benefit from multiple enhancements. RLUSD will act as a settlement currency for spot crypto and fiat trading to improve liquidity. 

Clients will have better margin efficiency, as RLUSD can be used for funding trades in futures and CFDs. In addition, Secure custody will be provided through LMAX Custody using segregated wallets, to make sure the assets are secure and can be transferred. LMAX Kiosk also will give institutions an easy way to trade multiple FX and digital products using RLUSD. RLUSD will also give access to markets 24/7, which is not possible with normal fiat currencies.

Digital Assets Gateway and Security

The collaboration also integrates LMAX Digital with Ripple Prime, Ripple’s multi-asset prime broker. This combination of regulated exchange infrastructure and credit and brokerage capabilities will offer institutions a smoother gateway for digital asset trading while reducing counterparty risks. Ripple Prime customers can now use LMAX Digital for price discovery and deep liquidity when trading and holding digital assets.

“Institutions are increasingly recognising the transformative potential of blockchain technology to modernise global financial market structure. This partnership will accelerate the utilisation of RLUSD—already a top 5 USD-backed stablecoin—within one of the largest and most sophisticated trading environments.” Jack McDonald, SVP of Stablecoins at Ripple, said.

Ripple holds over 75 regulatory licenses globally, which has made it possible for the company to provide the compliant infrastructure required for financial institutions to store, move, and exchange value. Moreover, this news comes after a record year for LMAX, with $8.2 trillion in institutional exchange volumes in 2025, and after Ripple’s purchase of Hidden Road, a multi-asset prime broker, for $1.25 billion.

Also Read: CME Group to Launch Cardano, Chainlink, and Stellar Futures

Elon Musk’s X is taking action against apps that pay users for posting with digital tokens, Head of Product Nikita Bier said on Thursday. 

The change affects InfoFi projects, which turn user activity into money-making opportunities. In a post, Bier explained that these apps caused “a tremendous amount of AI slop [and] reply spam on the platform.” X has taken away API access for these projects. He said the goal is to make the platform better for regular users and that their experience “should start improving soon” as bots can no longer earn money from posting.

We are revising our developer API policies:

We will no longer allow apps that reward users for posting on X (aka “infofi”). This has led to a tremendous amount of AI slop & reply spam on the platform.

We have revoked API access from these apps, so your X experience should…

— Nikita Bier (@nikitabier) January 15, 2026

Developers affected by the ban can get support to move their apps to other platforms, including Meta’s Threads or Bluesky, a decentralized alternative that gained users after Musk bought Twitter in 2022. Meanwhile, his move hits projects like Kaito AI, which became popular after launching last February. 

“We are revising our developer API policies: We will no longer allow apps that reward users for posting on X (aka ‘infofi’). This has led to a tremendous amount of AI slop & reply spam on the platform. We have revoked API access from these apps, so your X experience should…” Bier shared the news on X.

Kaito Token and NFT prices drop sharply following the news

Shortly after the announcement, Kaito’s token price fell by 15% from an intraday high of $0.7 to $0.56. The token’s market capitalization has also dropped by 15% to $138 million, according to CoinMarketCap. Meanwhile, trading activity is up by 111$, however, the drop suggest that this mostly involves traders selling the token. 

The decline also affected the Yapybaras NFT collection linked to Kaito, which lost over 50% of its floor price, falling to 0.21 ETH on OpenSea. Bier said developers whose accounts were cut off could get help moving to other platforms like Meta’s Threads or Bluesky, a decentralized social network that grew in popularity after Musk bought Twitter in 2022.

New Features and Developer Support

The decision comes as X continues other crypto initiatives. The company recently introduced Smart Cashtags, which link ticker symbols to real-time financial data. Tapping a Smart Cashtag shows live prices, charts, and posts mentioning the asset.

Meanwhile, Kaito announced it is sunsetting Yaps, a feature that rewarded users with tokenized scores for engagement. Kaito founder Yui Hu said Yaps “embodied the core Web3 ethos” but admitted it did not fit “the needs of high-quality brands, serious content creators, or X as a platform.” Critics said Yaps encouraged “attention farming,” where users made repetitive posts to earn rewards.

InfoFi apps give rewards for posting, which makes both real users and bots post a lot. Kaito AI became a main example of InfoFi. However, X’s new rules show how changes on a social platform can quickly affect crypto tokens and NFT markets. The company is trying to reduce spam and AI content while helping developers move to other networks. 

Also Read: U.S Crypto Market Bill Faces Delays Amid Lawmaker Disagreements

Lawmakers and crypto leaders in the United States are at a standstill over the crypto market structure bill, leaving its future uncertain as negotiations stall in early 2026. 

The bill was designed to create clarity for how the U.S. government oversees crypto. However, it has faced delays after missing its original September 2025 deadline, then the end-of-year target, and now faces further postponements. 

Officials are having disagreements stablecoin interest among other things, and who controls rules have made the bill very difficult to pass, with major industry groups pulling their support and crucial Senate hearings canceled.

I’ve spoken with leaders across the crypto industry, the financial sector, and my Democratic and Republican colleagues, and everyone remains at the table working in good faith.

As we take a brief pause before moving to a markup, this market structure bill reflects months of…

— Senator Tim Scott (@SenatorTimScott) January 15, 2026

Senate hearings postponed as talks stall

Just two weeks into 2026, the Senate Banking Committee postponed a planned markup vote, which was meant to define the language and framework of the bill. Chairman Tim Scott, a Republican from South Carolina, described the pause as “brief.”

He added that “I’ve spoken with leaders across the crypto industry, the financial sector, and my Democratic and Republican colleagues, and everyone remains at the table working in good faith.” The cancellation follows a similar delay by the Senate Agriculture Committee, which postponed its markup session to January 27.

Coinbase pulls back on its Support

Meanwhile, Coinbase CEO Brian Armstrong has recently announced his company can no longer support the bill because it has “too many issues.” In a tweet, he highlighted some of this issues including the proposed bans on tokenized equities, rules against decentralized finance, limits on stablecoin interest, and a shift of power from the Commodity Futures Trading Commission to the Securities and Exchange Commission.

After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.

There are too many issues, including:

– A defacto ban on tokenized equities
– DeFi prohibitions, giving the government unlimited access to your financial…

— Brian Armstrong (@brian_armstrong) January 14, 2026

According to Armstrong, “This version would be materially worse than the current status quo. We’d rather have no bill than a bad bill. Hopefully we can all get to a better draft.”

At the same time, other crypto executives stressed the need for responsible rules that protect consumers without stifling innovation. Ji Hun Kim of Crypto Council for Innovation said, “It remains critical to preserve consumer choice and ensure any framework supports responsible competition. Clear, workable rules should protect consumers and drive innovation without narrowing the range of financial services available.”

Kraken co-CEO Arjun Sethi also added, “Market structure legislation is, by definition, complex. Resolving it was never going to be frictionless. The existence of remaining issues does not mean the effort has failed. It means we are doing the hard work of governing.”

Experts says rulemaking could take years

Experts also said that even if a bill passes, it could take years to be fully implemented. Justin Slaughter from Paradigm said the law requires 45 separate rules to be written, and the work could last through the next presidential term.

Despite these setbacks, industry lobbying groups remain hopeful. Summer Mersinger of the Blockchain Association called the delay a “moment of recalibration, not an end point,” highlighting the ongoing effort to refine the bill. The Clarity Act, as it is sometimes called, continues to face political and procedural hurdles, but the push to establish U.S. crypto regulations persists.

Also Read: Florida Lawmakers Push Strategic Bitcoin Reserve Plan