January 13: The cryptocurrency market is experiencing volatility. As of the time of writing, $Bitcoin (BTC.CC)$ Bitcoin rose 0.38%, trading at $92,016.59; $Ethereum (ETH.CC)$ Ethereum increased by 0.14%, trading at $3,134.43.
Key Focus
SEC Chair: The U.S. is advancing cryptocurrency legislation, aligning with Trump's goal of establishing a 'global cryptocurrency capital.'
SEC Chairman Paul Atkins revealed during an interview on Fox Business that the U.S. Congress passed and the President signed into law a landmark bill, "The Genius Act," at the end of last year. This marks the first time the U.S. government has formally recognized crypto-assets through regulation, providing a clear regulatory framework for stablecoins.
Atkins emphasized that Congress is actively promoting legislative work on the structure of the cryptocurrency market to enhance market certainty, consistent with Trump’s goal of establishing a "global cryptocurrency capital." He expressed optimism about the relevant bill being passed and signed this year, believing it will significantly promote the development of the crypto market and strengthen investor protection.
BitGo is pushing for an IPO! It plans to raise up to 201 million US dollars and may become the first cryptocurrency company to go public this year.
Crypto asset custodian$BitGo Holdings (BTGO.US)$and some of its existing shareholders are planning to raise up to $201 million through an initial public offering (IPO), potentially becoming the first cryptocurrency industry company to advance its listing plans in 2026. According to a filing with the U.S. Securities and Exchange Commission (SEC) on Monday, BitGo intends to offer 11.8 million shares at a price range of $15 to $17 per share.
The filing shows that in this IPO, BitGo will sell 11 million new shares, while existing shareholders, including some senior executives of the company, will sell approximately 821,600 shares. If calculated based on the upper limit of the offering price range, BitGo’s market capitalization post-listing will be approximately $1.96 billion, higher than its valuation of about $1.75 billion in a funding round in 2023. The company's management disclosed that the pricing of this offering is expected to take place on January 21.
Bipartisan cooperation draft of the U.S. crypto bill emerges: Banks may gain the upper hand in the current competition for stablecoin returns.
According to crypto journalist Eleanor Terrett, after months of intense negotiations involving Senate Republicans, Democrats, and industry representatives, a bipartisan draft of the 278-page cryptocurrency market structure bill has been released. Banks may gain the upper hand in the current competition for stablecoin returns. The latest draft (page 189) stipulates that companies may not pay interest solely based on user account balances. Users can receive rewards, but only when those rewards are linked to actions such as opening an account, conducting transactions, staking, providing liquidity, pledging assets, or participating in network governance. Senators now have 48 hours to propose amendments to the bill text, so it remains unclear whether these provisions will remain unchanged by Thursday.
The U.S. Senate Agriculture Committee postponed the review of the cryptocurrency market structure bill until the last week of January.
According to crypto reporter Eleanor Terrett, U.S. Senate Agriculture Committee Chairman John Boozman stated that the committee will delay the markup session of its cryptocurrency market structure proposal to the last week of January, instead of proceeding as originally planned on Thursday alongside the Senate Banking Committee. Boozman noted that more time is needed to maintain bipartisan support.
Strategy acquired an additional 13,627 Bitcoin last week for approximately $1.25 billion, increasing its total holdings to 687,400 Bitcoin.
According to $Strategy (MSTR.US)$ The Form 8-K filing disclosed that the company purchased 13,627 Bitcoin for approximately $1.2471 billion at an average price of $91,519 per Bitcoin using proceeds from the sale of shares through an ATM (At-The-Market) offering between January 5 and January 11, 2026. As of January 11, 2026, the company holds a total of 687,410 Bitcoin, with cumulative purchases amounting to approximately $51.8 billion at an average cost of $75,353 per Bitcoin.
Trump Media deposited 2,000 BTC, valued at $175 million, into Coinbase last week.
According to monitoring by Emmett Gallic, Trump Media deposited $Coinbase (COIN.US)$ 2,000 BTC (valued at $175 million) into Coinbase last week. The analyst noted that this could either serve as collateral for a loan or be intended for sale.
Tom Lee: If shareholders do not approve BitMine's new share issuance authorization, the company will be forced to slow down the pace of ETH accumulation.
$Bitmine Immersion Technologies (BMNR.US)$ In a statement released on Monday, Chairman Thomas "Tom" Lee stated that BitMine's ability to continue increasing its holdings of Ethereum (ETH) depends on whether shareholders approve additional authorization for issuing new shares. If such approval is not granted, the company may be forced to slow down its purchasing pace in the coming weeks.
Lee said: "We must immediately proceed with the new share issuance because BitMine's current authorized limit of 500 million shares is about to be exhausted, and once the limit is depleted, our ETH accumulation speed will slow down." The shareholder vote will take place on Thursday. According to regulations, the new share issuance proposal requires the support of 50.1% of all outstanding shares to pass. "This is an extremely high threshold, making it very difficult to obtain authorization for the new share issuance," Lee emphasized in the statement.
SEC Chair: It remains to be seen whether the U.S. will seize Bitcoin held by Venezuela.
According to a report by Cointelegraph, Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), did not rule out the possibility when asked if the U.S. would seize Bitcoin held by Venezuela. Previous reports suggested that Venezuela holds up to $60 billion worth of Bitcoin (approximately 600,000 coins), but several analysts have stated that the figures cannot be verified. Atkins responded that it remains to be seen what actions the U.S. might take if given the opportunity to seize these Bitcoin, adding that he was not personally involved in related decision-making. Earlier, Venezuelan President Maduro was arrested by the U.S. military under orders from President Trump and transferred to New York to face criminal charges.
Blackrock's New Year Report: Stablecoins are expected to reshape financial markets, and Ethereum's leading position as a settlement layer remains unshakable.
$Blackrock (BLK.US)$ In the '2026 Global Outlook,' it was noted that stablecoins are breaking beyond exchange boundaries and integrating into mainstream payment systems, showing potential for widespread adoption in cross-border transfers and everyday use within emerging markets. This positioning shifts the core market question: stablecoins are no longer just about benefits to the crypto industry but rather whether they can coexist with or even integrate into traditional financial settlement channels, leading to the critical issue of 'which blockchains will become the foundational infrastructure layer.'
Blackrock explicitly stated that stablecoins are 'no longer niche products' and are becoming 'a bridge between traditional finance and digital liquidity.' The rise of stablecoins stems from the volatility of crypto markets and the limitations of traditional financial settlements, while their current mainstream adoption has been facilitated by regulatory implementation and scale breakthroughs. Blackrock emphasized that for stablecoins to truly act as a bridge between traditional and digital finance, they require robust foundational infrastructure, with Ethereum currently remaining the cornerstone for institutional engagement under the existing framework.
SEC Chair: Supports Congress clarifying jurisdictional divisions between the SEC and CFTC on cryptocurrency regulation.
Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), posted on X platform: "This is a significant week for cryptocurrencies – Congress is at the forefront of upgrading the financial markets of the 21st century. I fully support Congress providing clear delineation on the jurisdictional division between the SEC and the Commodity Futures Trading Commission (CFTC). The most important thing we can do for investors now is to move the crypto asset market out of the regulatory gray area."
The bipartisan market structure legislation will help us guard against poor regulation and ensure the realization of President Trump's goal of making the United States the global capital of cryptocurrency. I look forward to President Trump signing the bipartisan market structure legislation into law in the coming months. Clear and principled rules based on bipartisan statutory text will promote innovation in our markets while continuing to protect investors."
Thai Prime Minister orders tightening of gold trading and digital asset-related regulations to combat 'gray money'.
According to The Nation Thailand, Thai Prime Minister Anutin Charnvirakul has officially launched a comprehensive campaign targeting 'gray money' and illegal fund flows, ordering stricter regulations on gold trading and digital assets. In the digital asset sector, the government will strictly enforce the 'Travel Rule,' requiring identification of both sender and recipient in all wallet-to-wallet transfers to eliminate anonymity. Additionally, Thailand will establish a National Data Bureau to centrally manage financial data, enabling regulators to track suspicious transactions in real time.
Democratic members of the Senate Banking Committee have called for a hearing before the markup session of the cryptocurrency bill scheduled for Thursday.
According to a disclosure by crypto journalist Eleanor Terrett, Democratic members of the Senate Banking Committee issued a late-night appeal, requesting a full hearing prior to the markup session on Thursday. Senators Chris Van Hollen, Tina Smith, and Jack Reed sent a letter to the Republican leadership of the Senate Banking Committee, criticizing that the text of the bill has not been released just two days before the markup (with an expected length of over 200 pages) and stating that the timeline is insufficient for voting on what they described as "the most important bill considered by this committee in this century."
Former New York City Mayor Eric Adams announces the launch of 'NYC Token'.
According to Fortune magazine, former New York City Mayor Eric Adams announced a cryptocurrency initiative called 'NYC Token,' aiming to raise funds to combat anti-Semitism, anti-American sentiment, and educate children about blockchain technology. However, the specific details of the plan remain quite vague. During a brief press conference held in Times Square, Adams did not specify how the token would combat anti-Semitism, nor did he reveal the collaborators, issuance timeline, or the intended use of funds.
Adams stated that he will not receive a salary from this project at present but may reassess this decision in the future. During his tenure, Adams strongly supported the cryptocurrency industry but faced controversy over ethical and conflict-of-interest issues. New York City Mayor Zohran Mamdani has indicated that he will not purchase the token. Additionally, according to information posted by Eric Adams on X platform, NYC Token appears to have been issued on the Solana network. Its market capitalization briefly surged to $700 million before quickly retreating, currently standing at $95.47 million.
U.S. Senator Lummis proposes the Blockchain Regulatory Certainty Act to protect developers in the cryptocurrency space.
According to The Block, Republican Senator Cynthia Lummis and Democratic Senator Ron Wyden introduced a bill clarifying that software developers who do not control user funds should not be considered money transmitters – as senators rapidly prepare for broader cryptocurrency legislation. The Blockchain Regulatory Certainty Act, proposed by Lummis and Wyden, was submitted on Monday, aligning with work already completed by the House of Representatives.
The bill will establish clear guidelines on when developers and service providers can be exempt from complying with laws related to money transmission. Wyden stated in a declaration: "Forcing developers who write code to follow the same rules as exchanges or brokers is technically unreasonable and infringes on Americans' privacy rights and freedom of speech." Sources indicate that this Senate bill may be incorporated into the current version of the cryptocurrency market structure legislation under consideration by the Senate Banking Committee.
The U.S. CFTC is restructuring a new Innovation Committee, with multiple well-known figures from the cryptocurrency industry as its first members.
According to a report by CoinDesk, Mike Selig, the newly appointed chairman of the U.S. Commodity Futures Trading Commission (CFTC), issued a statement on Monday indicating that he is currently restructuring the agency's advisory group and re-establishing the Innovation Committee. The core team of this committee will initially consist of a group of professionals from the cryptocurrency industry. Caroline Pham, the former acting chair of the CFTC, quickly formed a team of chief executives focused on innovative fintech areas during her final days at the agency.
Only one month after the announcement of the establishment of the Innovation Committee, Selig confirmed the individuals on this list as the 'founding members' of the Innovation Advisory Committee. This means that the first batch of members will include executives from crypto companies such as Gemini, Kraken, Bitnomial, Crypto.com, and Bullish, as well as executives from traditional enterprises like Nasdaq, CME Group, Intercontinental Exchange, and Cboe Global Markets.
The Innovation Committee will assist regulators in formulating new rules based on the original Technology Advisory Committee. This committee will be one of five such external committees aimed at helping guide the agency in its work within members' areas of expertise. The agency is expected to become one of the primary U.S. cryptocurrency regulatory bodies and is now inviting the public to submit additional member candidates and topics for consideration by the end of January.
Bitmine has once again staked over 150,000 ETH, valued at approximately $479 million.
According to monitoring by Onchain Lens,$Bitmine Immersion Technologies (BMNR.US)$ An additional 154,208 ETH (worth $478.77 million) has been staked. To date, a cumulative total of 1,344,224 ETH, valued at $4.15 billion, has been staked.
Bakkt agrees to acquire stablecoin payment infrastructure DTR.
According to an official announcement, $Bakkt Holdings (BKKT.US)$ has reached an agreement to acquire Distributed Technologies Research Ltd. (DTR), a global stablecoin payment infrastructure company, in exchange for approximately 9,128,682 Class A common shares. This move aims to integrate Bakkt’s stablecoin settlement and digital banking businesses. The transaction is expected to be completed upon receiving regulatory and shareholder approval, with ICE set to vote in favor of the deal. The company will change its name to 'Bakkt, Inc.' on January 22 and host an Investor Day at the New York Stock Exchange on March 17.
The Bank of Italy simulates a scenario where Ethereum (ETH) falls to zero, warning of risks associated with the Ethereum infrastructure.
According to a report by Cointelegraph, the Bank of Italy noted in its research titled 'What If Ethereum Goes to Zero? How Market Risks Evolve into Infrastructure Risks' that if the price of ETH were to drop to zero, it could lead to validators exiting, slower block production, and decreased network security, thereby affecting financial services such as stablecoins and tokenized assets that rely on Ethereum for settlement. The report recommends that regulators weigh whether to allow financial institutions to depend on public blockchains or introduce risk mitigation mechanisms like business continuity plans and validator security standards.
Bitmine Immersion Technologies purchases an additional 24,266 ETH, bringing total holdings above 4.16 million ETH.
According to an official announcement, $Bitmine Immersion Technologies (BMNR.US)$ the company purchased 24,266 Ethereum (approximately $75.37 million) last week, bringing its total holdings to 4,167,768 ETH (approximately $12.9 billion), accounting for 3.45% of the total network supply. Among these, 1,256,083 ETH have been staked, with the MAVAN staking network expected to launch in Q1 2026. Chairman Tom Lee issued a special statement urging shareholders to vote in favor of Proposal No. 2 – an increase in authorized shares – at the upcoming annual meeting on January 15. Due to the company's charter requiring over 50.1% of outstanding shares to support the proposal, the threshold is extremely high. If the proposal does not pass, the current authorization of 500 million shares will be exhausted, potentially limiting the ETH accumulation plan.
Latin American stablecoin payment company VelaFi completes $20 million Series B funding round with participation from Alibaba.
VelaFi, a Latin American stablecoin payment infrastructure company, announced the completion of a $20 million Series B funding round led by XVC and Ikuyo, with participation from Alibaba Investment, Planetree, and BAI Capital, among others, bringing the total funding to over $40 million. The funds will be used to expand compliance, banking connections, and operations in the United States and Asia. VelaFi has processed billions of dollars in transactions for hundreds of corporate clients, providing stablecoin solutions including cross-border payments, multi-currency accounts, and asset management.
Standard Chartered plans to establish a cryptocurrency prime brokerage business to expand its digital asset footprint.
According to Bloomberg citing informed sources, $STANCHART (02888.HK)$ the bank plans to establish a cryptocurrency prime brokerage business through its venture capital arm, SC Ventures, offering services including custody, financing, and market access. The initiative is still in the early planning stages. This move will help the bank avoid Basel III's 1250% capital requirement for unauthorized crypto assets. Standard Chartered has previously been involved in crypto projects such as Zodia Custody and Zodia Markets and will become the first globally systemically important bank to offer spot crypto trading in 2025.
Ikigii, the cryptocurrency exchange under Towerbank of Panama, has applied to El Salvador for a digital asset service provider license.
Towerbank, a Panamanian banking institution, has submitted an application to El Salvador's National Digital Assets Commission (CNAD) through its cryptocurrency trading and management platform, Ikigii, for a digital asset service provider license with the intention of commencing operations locally. The platform integrates traditional banking services with Bitcoin (BTC) and cryptocurrency asset management, offering support for BTC reception, fiat-to-crypto conversion, and instant cross-border transfers. Towerbank noted that El Salvador provides a favorable legal environment. In addition to transaction services, the bank is evaluating participation in local projects related to Bitcoin mining, energy infrastructure, and artificial intelligence financing. It also plans to optimize cross-border remittance efficiency using stablecoins.
Editor/Joe
